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Cable Update (GBPUSD)

  • #625,101
  • Sep 22, 2021 10:00am Sep 22, 2021 10:00am
Quoting Pat Chiko
{quote} GU End of scalping. This turn out to be long term scalping. Price may want to go up (or ranging) until FOMC later for another bear slam. Good luck guys. Trade safe. {image}
PAT,
Brilliant as always!
Happy days
  • #625,102
  • Sep 22, 2021 10:01am Sep 22, 2021 10:01am
Quoting jezzode
{quote} Just let us know the page number if that's easier for you! It would be silly to explain what you have already explained
I will find it but I actually want to throw more explanation that's why I said it will be explained on Friday after New York close.
Data + Stat + Risk/Emotions Management
  • #625,103
  • Sep 22, 2021 10:05am Sep 22, 2021 10:05am
I have longed gbpusd
  • #625,104
  • Sep 22, 2021 10:05am Sep 22, 2021 10:05am
Quoting gatenio
{quote} intraday trader?
tbh - I am aiming for that, but last trade lasted from yesterday LO to today at NYL.

Daily ranges in GU has been so dry lately - shrug
I AM BIASED - MY THOUGHTS ARE AGAINST YOURS
  • #625,105
  • Sep 22, 2021 10:11am Sep 22, 2021 10:11am
If price manage breach 1.36500 that will be the first pit spot
"Buy Cheap and Sell Expensive , Its Market Anyways where People Get profit"
  • #625,106
  • Sep 22, 2021 10:11am Sep 22, 2021 10:11am
Quoting Treeny
1M trading sounds stressful!!
M1 and M5 both are useless and have lost their relevance this month, particularly in EURUSD and GBPUSD pair.
  • #625,107
  • Sep 22, 2021 10:14am Sep 22, 2021 10:14am
TP 1.3580
  • #625,108
  • Sep 22, 2021 10:20am Sep 22, 2021 10:20am
Quoting jezzode
{quote} tbh - I am aiming for that, but last trade lasted from yesterday LO to today at NYL. Daily ranges in GU has been so dry lately - shrug
so you are short-term trader.
and you with chillin with glass of wine right now which is great.
what if price will get 3700+ before your new low, its worth it?
  • #625,109
  • Sep 22, 2021 10:23am Sep 22, 2021 10:23am
[quote=silolo;13710448] ]

Silolo,

This one for you.
Ta, J
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  • #625,110
  • Sep 22, 2021 10:24am Sep 22, 2021 10:24am
Quoting jezzode
{quote} Just let us know the page number if that's easier for you! It would be silly to explain what you have already explained
Too many previous posts to find it out, let me just give some explanation here...

✓ The smaller the range used in calculating the projected high/low the higher the percentage of occurrence. This means that it is easier to get 330 pips range in a month than 630 pips range in a month.
✓ Why give 1.4256 (15% chance of occurrence)? As at time of typing last week, the price was 1.3731 with a low of 1.3726 which means the low was vulnerable to break than the high, which in turn reduces the possibility of 1.4256, the lower the price drops, the lower the percentage of chance of 1.4256 happening.

As I type the percentage of 1.4256 happening this September has reduced to 5% considering the price now trades at 1.3630/50 area which in turn increases the possibility of 1.3583 happening to 88% This September.

The Idea is make use of the Minimum monthly range (330 pips) to create these scenarios by looking at the current trend in relationship with the current Month High and Low prices...

This is a skeletal explanation. I will explain better after New York market close on Friday.
Data + Stat + Risk/Emotions Management
  • #625,111
  • Sep 22, 2021 10:29am Sep 22, 2021 10:29am
BTW, traders who dont like the Baby Shark that i post this morning.
bullish valid crab

almost same 1st target as the shark and the bullish divergence.
stop loss must be in place.

3660 is massive R on 1h. keep eyes on it.
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  • #625,112
  • Sep 22, 2021 10:33am Sep 22, 2021 10:33am
Quoting PatienceFx
long position taken in both eu n gu purely on technicals {image}
7 hours of waiting for the fruit to ripen ;;target is Pivot level in both
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  • #625,113
  • Sep 22, 2021 10:34am Sep 22, 2021 10:34am
Quoting gatenio
{quote} so you are short-term trader. and you with chillin with glass of wine right now which is great. what if price will get 3700+ before your new low, its worth it?
That is a very valid point!

However, I should have been more clear, I was out of short at 3627 from 3682

Very tempted to sell 3690 though if we spike up at news.... what to do, what to do
I AM BIASED - MY THOUGHTS ARE AGAINST YOURS
  • #625,114
  • Sep 22, 2021 10:39am Sep 22, 2021 10:39am
Quoting PatienceFx
{quote} 7 hours of waiting for the fruit to ripen ;;target is Pivot level in both {image}
excellent work keep it up bro
  • #625,115
  • Sep 22, 2021 10:40am Sep 22, 2021 10:40am
Quoting jezzode
{quote} That is a very valid point! However, I should have been more clear, I was out of short at 3627 from 3682 Very tempted to sell 3690 though if we spike up at news.... what to do, what to do
ok..
from you post it sounds like you looking for tp new lows, possible target but the risk for few sometimes could be disaster for the mind.
GL
  • #625,116
  • Sep 22, 2021 10:42am Sep 22, 2021 10:42am
Quoting Jolita
{quote} PAT, Brilliant as always! Happy days
Great to hear from Jolita.
Hope all is well.

Spending my time hunting Dragon.

The set up is clear and a bit easier with low drawdown entry.
Less manipulation and great moves.

I will come to visit Cable thread if there is set up to share.
Take care and all the best with FOMC trade later.
Wishing you many many green pips

Regards

PAT
Attached Image
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #625,117
  • Sep 22, 2021 10:43am Sep 22, 2021 10:43am
Quoting gatenio
{quote} ok.. from you post it sounds like you looking for tp new lows, possible target but the risk for few sometimes could be disaster for the mind. GL
Words of wisdom, absolutely correct there.

i've had a few +60pip runs in GU that miss TP by a pip or two.

Horrible, but all part of the game (at least this is what you tell yourself the next day after smashing up monitor)

Today was almost a perfect example, 3 hours waiting for less than 2 pips lol
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I AM BIASED - MY THOUGHTS ARE AGAINST YOURS
  • #625,118
  • Sep 22, 2021 10:44am Sep 22, 2021 10:44am
Thanks Pat for your shared wisdom. Many thanks
  • #625,119
  • Sep 22, 2021 10:45am Sep 22, 2021 10:45am
Quoting Pat Chiko
{quote} Great to hear from Jolita. Hope all is well. Spending my time hunting Dragon. The set up is clear and a bit easier with low drawdown entry. Less manipulation and great moves. I will come to visit Cable thread if there is set up to share. Take care and all the best with FOMC trade later. Wishing you many many green pips Regards PAT {image}
the real dragon is also having fun, cable can drag it to 150.85
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  • #625,120
  • Sep 22, 2021 10:47am Sep 22, 2021 10:47am
Quoting genadi
bought GU 1.6335
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