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Cable Update (GBPUSD)

  • #624,601
  • Sep 20, 2021 12:13pm Sep 20, 2021 12:13pm
Quoting bilal.cybrog
{quote} What do you mean by exhausting buyers? Please explain?
Market makers making life difficult for any early buyers trying to get long by repeatedly sweeping the lows and taking their stops. Once the MMs have taken enough liquidity from the early participants price can shoot up. Notice the last time we were down at 1.36 how similar the price behaved. They want to match as many buyers down here as possible before sending price up which means accumulating, moving price up and down past highs and lows
  • #624,602
  • Sep 20, 2021 12:15pm Sep 20, 2021 12:15pm
Quoting Wavegarrick
{quote}{quote}{quote} Wow, it turns out that Snowflower has an additional username. I suspect who he is. Just look at the way he posts. Also a regular popular trader here. Be careful who you trust folks. Forex is a cruel world. Cheers.


i am curious to know why someone will come to forum to bully

this forum is not just a forum but wealth, people are running huge amount of funds in live account and yet someone come here to show rudeness and disrecpect .

my post may get extracted but i have never been suspended on FF.
MY OPINION NOT FINANCIAL ADVISE
  • #624,603
  • Sep 20, 2021 12:16pm Sep 20, 2021 12:16pm
Quoting mysterio
{quote} Market makers making life difficult for any early buyers trying to get long by repeatedly sweeping the lows and taking their stops. Once the MMs have taken enough liquidity from the early participants price can shoot up. Notice the last time we were down at 1.36 how similar the price behaved. They want to match as many buyers down here as possible before sending price up which means accumulating, moving price up and down past highs and lows
WOW!! Thanks for the knowledge.
May be someday we can f.. the market makers and take their liquidity.
  • #624,604
  • Sep 20, 2021 12:19pm Sep 20, 2021 12:19pm
NY didnt buy
if you notice they open below 3675 and stayed between for 3hrs

i had 2 long 13675 for longer-term if it work and 13650 for scalp tp didnt hit and closed manually, i either end a day with less loss or less profit thats my goal.

still waiting for that retrace and 1 final push down if it happen.
MY OPINION NOT FINANCIAL ADVISE
  • #624,605
  • Sep 20, 2021 12:23pm Sep 20, 2021 12:23pm
Quoting pipibrasci
{quote} Played out nicely. {image}
MY OPINION- Near term target from highs/pull back
1.3540
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD Near term target 16H.JPG Size: 72 KB
Grit; Knowledge; Right Mindset; All you need to overcome. KIS!
  • #624,606
  • Sep 20, 2021 12:25pm Sep 20, 2021 12:25pm
Quoting bilal.cybrog
{quote} WOW!! Thanks for the knowledge. May be someday we can f.. the market makers and take their liquidity.
Sorry to jump in. But curious to ask this question. Why would you want do that ? There no such thing as market makers. If I were you, I would be spending more time to be good trader in all the aspects. No offence though.
Fools Rushing
  • #624,607
  • Sep 20, 2021 12:29pm Sep 20, 2021 12:29pm
Quoting MTF Test
{quote} Sorry to jump in. But curious to ask this question. Why would you want do that ? There no such thing as market makers. If I were you, I would be spending more time to be good trader in all the aspects. No offence though.
OK I am trying but seeing the charts with so many levels and things like that I think it might take like some years.
Until that time i look through all the posts and find real traders who trade and educate starters like me.
Cheers.
  • #624,608
  • Sep 20, 2021 12:36pm Sep 20, 2021 12:36pm
My observation- For the last three months, whenever cable goes down, it goes down like a freefall without much retracement. But when cable wants to move up, it struggles with lots of pullback and retest.

For the last few months, cable moves at the mercy of the USD. Unless BoE intervenes, this scenario should not be changed.

If cable convincingly breaks the 1.3570 level, it is game over for bull at least for the rest of the year.
  • #624,609
  • Sep 20, 2021 12:37pm Sep 20, 2021 12:37pm
Quoting rifsss
My observation- For the last three months, whenever cable goes down, it goes down like a freefall without much retracement. But when cable wants to move up, it struggles with lots of pullback and retest. For the last few months, cable moves at the mercy of the USD. Unless BoE intervenes, this scenario should not be changed. If cable convincingly breaks the 1.3570 level, it is game over for bull at least for the rest of the year.

bearish market are usually very fast and aggressive than the bull
MY OPINION NOT FINANCIAL ADVISE
  • #624,610
  • Sep 20, 2021 12:43pm Sep 20, 2021 12:43pm
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.png Size: 30 KB
yes yes yes
  • #624,611
  • Sep 20, 2021 12:44pm Sep 20, 2021 12:44pm
Quoting donfriday
{quote} i am curious to know why someone will come to forum to bully this forum is not just a forum but wealth, people are running huge amount of funds in live account and yet someone come here to show rudeness and disrecpect . my post may get extracted but i have never been suspended on FF.
No, I don't think you will be suspended. You have not attacked anyone. We have the right to know about the dangers of forex. It is your own hard-earned cash at stake. If someone tries to break your confidence it could affect your trading and that is a no-no for me.
Trade your trade and I believe sharing here makes you more focused in your trading and ultimately more confident in your trading. Don't let anyone take that away from you.
Cheers.
Trade to trade another day
  • #624,612
  • Sep 20, 2021 12:59pm Sep 20, 2021 12:59pm
Quoting bilal.cybrog
{quote} What do you mean by exhausting buyers? Please explain?
Good explanation from mysterio!


Just want to add:
(If you are not familiar with orders matching mechanics next will sounds like abracadabra.. )
Large participants usually trade with limit orders, they need to mask their activity as much as possible. The exchange also offers them special order types -- ghost- and iceberg limit orders. Which is invisible or partly visible in DOM.

If more volume is traded at the ask side during the day, but the price does not move up or even falls -- then sell-limit orders are placed few ticks behind the price, market-buy orders can't lift price higher.
At the same time sell-market orders easily moves price down without meeting much resistance from the passive buyers.
Many nuances here, actually. I will not go deeper.

Maybe I used wrong word, because classical definition for exhaustion is different.
Bottom line is: it's not time to buy, yet. But soon, I believe.

PA on July 20 -20 and Aug 17 -20 indeed is very similar in this terms.

Regards

(Excuse me my English)
Air force
  • #624,613
  • Sep 20, 2021 1:03pm Sep 20, 2021 1:03pm
New York Market trading transactions... Since it's ping pong between 1.3640 - 1.3690... more break expected tomorrow...
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20210920-190152.png Size: 155 KB
Data + Stat + Risk/Emotions Management
  • #624,614
  • Sep 20, 2021 1:06pm Sep 20, 2021 1:06pm
Quoting Georginson
New York Market trading transactions... Since it's ping pong between 1.3640 - 1.3690... more break expected tomorrow... {image}
Excellent work sir Keep it up.
  • #624,615
  • Edited 2:01pm Sep 20, 2021 1:07pm | Edited 2:01pm
Quoting MTF Test
{quote} Sorry to jump in. But curious to ask this question. Why would you want do that ? There no such thing as market makers. If I were you, I would be spending more time to be good trader in all the aspects. No offence though.
What is the definition of MMs?
https://www.cmegroup.com/confluence/.../Market+Makers
There are special order execution algorithms for them.
On emerging markets they also creates liquidity (DOM) so one can trade.
They exist)
Air force
  • #624,616
  • Sep 20, 2021 1:17pm Sep 20, 2021 1:17pm
Quoting Moty
{image}
start of fibo is 0.0 end is 100

like this its a retracement and price projection
Attached Image (click to enlarge)
Click to Enlarge Name: bandicam 2021-09-19 10-28-16-401.jpg Size: 301 KB
MY OPINION NOT FINANCIAL ADVISE
  • #624,617
  • Sep 20, 2021 1:24pm Sep 20, 2021 1:24pm
Quoting W0lfram
{quote} Good explanation from mysterio! Just want to add: (If you are not familiar with orders matching mechanics next will sounds like abracadabra.. ) Large participants usually trade with limit orders, they need to mask their activity as much as possible. The exchange also offers them special order types -- ghost- and iceberg limit orders. Which is invisible or partly visible in DOM. If more volume is traded at the ask side during the day, but the price does not move up or even falls -- then sell-limit orders are placed few ticks behind the price,...
Oh nice !! Indeed insightful.
  • #624,618
  • Sep 20, 2021 1:26pm Sep 20, 2021 1:26pm
Quoting bilal.cybrog
{quote} WOW!! Thanks for the knowledge. May be someday we can f.. the market makers and take their liquidity.
bank robbery through the metatrader platform?
Air force
  • #624,619
  • Sep 20, 2021 1:31pm Sep 20, 2021 1:31pm
Quoting Georginson
New York Market trading transactions... Since it's ping pong between 1.3640 - 1.3690... more break expected tomorrow... {image}
Wow nice scalping. Not easy to take a dozen trades all winners like that, takes confidence
  • #624,620
  • Sep 20, 2021 1:37pm Sep 20, 2021 1:37pm
Quoting donfriday
{quote} start of fibo is 0.0 end is 100 like this its a retracement and price projection {image}
The way we have seen the pound drop 141 looks a galaxy away
Insane in the Brain..
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