Cable Update (GBPUSD)

why do you choose to use ATR stops instead of stops based on S/R ?

Hi Genadi,
I notice you're very keen in understanding price movement. Let me give you some of mu ways of thinking about market. Sometimes I win and lose the trade. Understanding what price is doing is important. All in the price chart.

First you need to think in terms of market inefficiencies.
Higher time traders will often only trade against lower time frame traders because the higher time frame signals have that much more directional bias in terms of clarity.
Lower time frame traders will often be trading against higher time and lower time frame traders.

So when the fight between lower time frame traders drifts into higher time frame s&r territory we have a huge imbalance or market inefficiency effect causing a much more probable directional outcome in favour of the higher time frame traders.

We can then look at the smaller time frame s&r levels to reduce risk.
Rinse and repeat.

There is no guarantee of the level working out that's why you trade with probabilities and losses are business costs.

Higher time frame levels are a lot more obvious and easier to trade which makes the smaller time frame levels around these levels higher probability which can be used for day or swing/position trades.
Just make sure you are high & low on the higher time frame curve.

When day trading the levels I use 3 time frames (Daily/H4/M30), two for the levels and one smaller one for identifying price action within those levels as the trend changes at higher time frame S&R.

Stops are always the other side of the confirmation candle as if that candle fails then its telling me it was not the right time to get in (not that the zone is invalid), then wait for the next PA to show or not at the level.

Large traders need liquidity so they will create bullish candles into supply ( happened at LO just now) to encourage buyers so that the large sellers have buyers to take their large orders.

Amateurs will always get in late and thus lose.

Hope this helps to build your knowledge base on price movement.

Regards

PAT

Bla bla liked me bla bla disliked me. Just be silent
No BS

sixth sense
???

Will have to see some bear pressure or else will have to cut this with a loss as this could fly shortly

See chart below.

ATR was around 22 when entering the trade.

Towards the end ATR was around 38. ( Increase during LO)

My algo didn't moved the SL according to ATR, ( must run check what's wrong with the program).

If Algo moved the SL, my trade still alive now and not necessary to re-enter the second trade.

Lol

Not trading today back tomorrow, too busy

Well jealous of anyone who caught this absolutely beaut short setup

786 retrace straight into RN & supply then boom, sad to miss it

Yesterday was a loss day for me unfortunately but we continue the fight, hope you enjoy this beautiful hindsight trade genadi

PS i wouldnt look for buys until 1.3784-94

I think GU is finally bearish with EMA 50/200 crossing downward but it could be reset back up tomorrow... anything can happen

Here we go!!!!!

Yeah, I'm of the same opinion too

this was temptation of pulling selling in , ill just stay in line while 1.38000 still hold , or else price can fly anytime

as i see M30 can be high possibility of forming W pattern

In order to go long, the market has to validate the 1.3815 level. If this 4H candle closes above this level it will be time to go long.

Hi .... asl pls

... the prev 1hr/4hr sw lo x 2 zone = prev supp = pot sbr too much for the bulls to overcome and another drop down after that pullback. Now in this overall 3808-3766 potential 4hr/dly demand zone and specifically the current dly lo @ a prev 1hr sw hi zone = prev res = pot rbs.

1hr below. [pink zone is a prev 30min sw lo zone only.]

Hi.....

2 x 10 pips ... Stops BE run the rest!!

Good news everyone I'm back

If any 4HR candle close below this zone and another rejects it.... Then the bulls have lost the fight absolutely

what are you going to do here now?