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Cable Update (GBPUSD)

  • #621,641
  • Sep 6, 2021 6:25pm Sep 6, 2021 6:25pm
Quoting alwaysloser
{quote} Hi Pat Chiko, I have been learning from all your trades and thank you for sharing your idea behind why you take trades. It has been really helpful. I just wanna ask some newbie questions related to the trade that you just took. I understand why you took the buy trade but my question is- there is a tiny dotted line at 1.3850 that you drew which I thought was a 4 hour resistance level as well as psycho level. Why did you not take this sell trade? What do you do when you are trapped between a good support level as well as resistance level?...
this is getting annoying, where the hell they coming from, f muppets
If you are new to Forex? Say Goodbye to your account!!
  • #621,642
  • Sep 6, 2021 6:29pm Sep 6, 2021 6:29pm
myidea.....pair eurusd if blue set up buy and green set up sell
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  • #621,643
  • Sep 6, 2021 6:53pm Sep 6, 2021 6:53pm
Quoting alwaysloser
{quote} Hi Pat Chiko, I have been learning from all your trades and thank you for sharing your idea behind why you take trades. It has been really helpful. I just wanna ask some newbie questions related to the trade that you just took. I understand why you took the buy trade but my question is- there is a tiny dotted line at 1.3850 that you drew which I thought was a 4 hour resistance level as well as psycho level. Why did you not take this sell trade? What do you do when you are trapped between a good support level as well as resistance...
Thanks for your interest Always Loser .

The set up idea are based on Support & resistance set up on H4 TF with M30 entry.

Here's the chart with some marking & description.

Hope it help.

Regards

PAT

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There set up are based on many assumptions.
It is based on probability and previous action.
We have support and resistance, trends and patterns that continue to repeat.

So the predictive nature is to assume that will continue/reverse.
Trades are based on what is seen and the most probable outcome.
I don't always get it right, but that's where money management comes in.
I don't necessarily see it as lagging either. coz I don't use any indicator.

As a technical analyst, I don't tend to bother with too many fundamentals as they will and do appear in the charts.
I normally trade larger timeframes so news spikes are generally within an acceptable range and the trend generally continues.

Personally I've always looked at where we are now and then looked back to see if there was congestion or reversals in the past at that level, to ascertain if it might be a support / resistance point....
What did the market do when it was last as this level, historically?
Was this level significant chart wise?"..

Support and resistance - correction and continuation - will never go out of style as long as there's supply and demand.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #621,644
  • Sep 6, 2021 7:11pm Sep 6, 2021 7:11pm
Quoting alwaysloser
{quote} Hi Pat Chiko, I have been learning from all your trades and thank you for sharing your idea behind why you take trades. It has been really helpful. I just wanna ask some newbie questions related to the trade that you just took. I understand why you took the buy trade but my question is- there is a tiny dotted line at 1.3850 that you drew which I thought was a 4 hour resistance level as well as psycho level. Why did you not take this sell trade? What do you do when you are trapped between a good support level as well as resistance level?...
Yes, I agree with your analysis on need to analyze S&R Level from achieving a reasonable profit if price decides it ain't going any lower.
This has to be balanced with how far upwards your stop-loss level is in relation to that level (Risk to Reward)

It's the basis to all T/A.
Need to spend time looking through your available time frames checking for possible support/resistance areas (including trend lines & pivots fibs etc) if not we are on flying blind.

This act as a great road map.
As you mentioned... When you see that statement made, it may be mentioning a major level that can't be seen unless you zoom out to a larger time frame.
The most significant levels are the ones on the daily charts or higher. OR, when a level is hit on the H4 charts many many times.

Regards

PAT
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #621,645
  • Sep 6, 2021 7:16pm Sep 6, 2021 7:16pm
Quoting KiwiTrada
{quote} this is getting annoying, where the hell they coming from, f muppets
Another Bully as if he's smartest in the whole world.

When newbie wanted to learn , I notice he would called them "names,.

He always posted other pair chart beside GBP/USD ( Cable), but refuse cox he is ignorant.

I think, he has been on losing streak and mental pressure is too great , thus bully is the only way to vent his pressure.

Please stop this bully.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #621,646
  • Sep 6, 2021 7:23pm Sep 6, 2021 7:23pm
Quoting Pat Chiko
{quote} GU Starting to range ? {image}
GU

End of scalping.

Wait for next set up after pull back

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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #621,647
  • Edited 7:44pm Sep 6, 2021 7:30pm | Edited 7:44pm
yesterday was an holiday in the us
this is the reason why there was a poor move
fuck those holidays

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yes yes yes
  • #621,648
  • Sep 6, 2021 7:38pm Sep 6, 2021 7:38pm
Quoting Pat Chiko
{quote} Yes, I agree with your analysis on need to analyze S&R Level from achieving a reasonable profit if price decides it ain't going any lower. This has to be balanced with how far upwards your stop-loss level is in relation to that level (Risk to Reward) It's the basis to all T/A. Need to spend time looking through your available time frames checking for possible support/resistance areas (including trend lines & pivots fibs etc) if not we are on flying blind. This act as a great road map. As you mentioned... When you see that statement made,...
Thank you so much for your clarifications. One more newbie question. What is compression? Why does price compress? How can I identify compression? How can identifying compression help in trading?
  • #621,649
  • Sep 6, 2021 7:42pm Sep 6, 2021 7:42pm
Quoting Moty
{image}{image}
Moty,

To me, short only today below 3870.
Intraday only.
  • #621,650
  • Sep 6, 2021 7:53pm Sep 6, 2021 7:53pm
Quoting navk
{quote} Moty, To me, short only today below 3870.
the bias for the all move depend on where the Monday daily pivot opens according to the weekly pivot
if it open below , the bias is short
if it open above , the bias is long
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yes yes yes
  • #621,651
  • Sep 6, 2021 7:56pm Sep 6, 2021 7:56pm
Quoting Pat Chiko
{quote} GU End of scalping. Wait for next set up after pull back {image}
Dear Pat.

Would you please share your technique to be applied in xauusd (in another thread maybe) ?
I'm having trouble finding support and resistance on the gold chart.

Thank you.
  • #621,652
  • Sep 6, 2021 8:08pm Sep 6, 2021 8:08pm
Quoting Moty
{quote} the bias for the all move depend on where the Monday daily pivot opens according to the weekly pivot if it open below , the bias is short if it open above , the bias is long {image}
yes, see my chart.

That is one rule what you speak, perfect.

Second thing, friday channel top is formed, a retrace below 3800 ( or 3800 ) is needed for weekly to close bullish.
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Intraday only.
  • #621,653
  • Sep 6, 2021 8:38pm Sep 6, 2021 8:38pm
perhaps today we can see above 1.3900 or more , or retest that level once again
"Buy Cheap and Sell Expensive , Its Market Anyways where People Get profit"
  • #621,654
  • Sep 6, 2021 9:15pm Sep 6, 2021 9:15pm
Quoting Moty
{quote} the bias for the all move depend on where the Monday daily pivot opens according to the weekly pivot if it open below , the bias is short if it open above , the bias is long {image}
The " only " thing for me to consider short bias for today is top of channel tested on Friday.

The bounce that had happened at 3820 in NY is weak buy channel which has been prompty resisted around 3860.

My stop is 3870. That is ok to me.
Intraday only.
  • #621,655
  • Sep 6, 2021 9:28pm Sep 6, 2021 9:28pm
Quoting kris89
perhaps today we can see above 1.3900 or more , or retest that level once again
to me, if 3900 ( top of channel ) is tested, it is double top... then a strong sell.

For this week to remain bullish or range, the price should not go above 3870.


Let us see.

May be wrong.
Intraday only.
  • #621,656
  • Sep 6, 2021 9:44pm Sep 6, 2021 9:44pm
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yes yes yes
  • #621,657
  • Sep 6, 2021 9:51pm Sep 6, 2021 9:51pm
Quoting navk
{quote} to me, if 3900 ( top of channel ) is tested, it is double top... then a strong sell. For this week to remain bullish or range, the price should not go above 3870. Let us see. May be wrong.
but i prefer a bear for next week , so i expected bull take out the level of liquidation and FO
and next week to taken down all the liquidation below
"Buy Cheap and Sell Expensive , Its Market Anyways where People Get profit"
  • #621,658
  • Sep 6, 2021 9:54pm Sep 6, 2021 9:54pm
Quoting kris89
{quote} but i prefer a bear for next week , so i expected bull take out the level of liquidation and FO and next week to taken down all the liquidation below
This week, I expect the PA to close bullish or in a range.

However, the price should drop more to see buyers.

The buy we saw in NY is weak channel buy.

IMO
Intraday only.
  • #621,659
  • Sep 6, 2021 10:10pm Sep 6, 2021 10:10pm
Quoting Theoak
{quote} Added to long in at 1.3844 and 41. This should fly soon. The Bulls on the higher timeframes should take control {image}
3 Lots on up +40 pips . Stops to BE run it!!!
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Don't trade what you think. Just what you see!!!
  • #621,660
  • Sep 6, 2021 10:46pm Sep 6, 2021 10:46pm
today PP 1.3841

and quite tight range:

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happy trading
dolce vita
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