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Cable Update (GBPUSD)

  • #641,081
  • Nov 23, 2021 9:17am Nov 23, 2021 9:17am
Quoting mauroby
order block? pat, can you support me if i am right? {image}

Again

ORDER BLOCK [OB]

OB is a Down/Up Candle at/near Support or Resistance before the move Up/Down, respectively.
Down Candle is a Bearish Candle
Up Candle is a Bullish Candle

Bullish Order Block [BuOB] is Down candle at/near Support level, before the move up
Bearish Order Block [BeOB] is Up Candle at/near the Resistance level, before the move down


Attached Image (click to enlarge)
Click to Enlarge Name: ob 4.jpg Size: 26 KB

Attached Image (click to enlarge)
Click to Enlarge Name: ob 3.jpg Size: 30 KB
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #641,082
  • Nov 23, 2021 9:18am Nov 23, 2021 9:18am
Quoting mauroby
order block? pat, can you support me if i am right? {image}
That is Supply at SRF level
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #641,083
  • Nov 23, 2021 9:22am Nov 23, 2021 9:22am
Quoting Pat Chiko
{quote} Again ORDER BLOCK [OB] OB is a Down/Up Candle at/near Support or Resistance before the move Up/Down, respectively. Down Candle is a Bearish Candle Up Candle is a Bullish Candle Bullish Order Block is Down candle at/near Support level, before the move up [b]Bearish Order Block [BeOB] is Up Candle at/near the Resistance level, before the move down {image} {image}
OB=same as Supp&Dem level?

Convince me i'm wrong
  • #641,084
  • Nov 23, 2021 9:27am Nov 23, 2021 9:27am
Quoting mysterio
{quote} OB=same as Supp&Dem level? Convince me i'm wrong
Not exactly.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #641,085
  • Nov 23, 2021 9:29am Nov 23, 2021 9:29am
Quoting Pat Chiko
{quote} Not exactly.
as far as I know OB is something the ICT guy came up with and started TMing it

appears to be an S&D level that occurs at a particular time and fibonacci level range after hunting local short term highs ? The block is a particular level at the base of down close candle body before leg up and vice versa

S&D level more like a 'basing' candle zone before leg out and BoS

Think thats roughly the difference but v similar regardless
  • #641,086
  • Nov 23, 2021 9:31am Nov 23, 2021 9:31am
Quoting mysterio
{quote} OB=same as Supp&Dem level? Convince me i'm wrong
i think other word area of value
MY OPINION NOT FINANCIAL ADVISE
  • #641,087
  • Nov 23, 2021 9:33am Nov 23, 2021 9:33am
BREAKING NEWS: Dollar weakens as GBPUSD rises higher to close bullish for the week, we have seen week support @ 1.3326 an area suitable for bottom buying and its safe just taking LONG positions at that level and below for maximum profit taking later in the week. Last week Tuesday we posted this same level at 1.3468 ceiling fro selling and we all saw how price fell to close the week bearish . Its critical haing this spot price weekly to help take profitable decisions before trading as it drastically reduces loss trading along the Major TREND. Happy tradinga
  • #641,088
  • Nov 23, 2021 9:35am Nov 23, 2021 9:35am
Quoting gabolan3
BREAKING NEWS: Dollar weakens as GBPUSD rises higher to close bullish for the week, we have seen week support @ 1.3326 an area suitable for bottom buying and its safe just taking LONG positions at that level and below for maximum profit taking later in the week. Last week Tuesday we posted this same level at 1.3468 ceiling fro selling and we all saw how price fell to close the week bearish . Its critical haing this spot price weekly to help take profitable decisions before trading as it drastically reduces loss trading along the Major TREND. Happy...
breaking news? Who is the source? You?
  • #641,089
  • Nov 23, 2021 9:42am Nov 23, 2021 9:42am
Quoting gabolan3
BREAKING NEWS: Dollar weakens as GBPUSD rises higher to close bullish for the week, we have seen week support @ 1.3326 an area suitable for bottom buying and its safe just taking LONG positions at that level and below for maximum profit taking later in the week. Last week Tuesday we posted this same level at 1.3468 ceiling fro selling and we all saw how price fell to close the week bearish . Its critical haing this spot price weekly to help take profitable decisions before trading as it drastically reduces loss trading along the Major TREND. Happy...
but it’s dropped …..
Insane in the Brain..
  • #641,090
  • Nov 23, 2021 10:01am Nov 23, 2021 10:01am
Quoting gatenio
{quote} breaking news? Who is the source? You?
I know the source its Maheeeeeeee
  • #641,091
  • Nov 23, 2021 10:03am Nov 23, 2021 10:03am
Quoting AlfieSolomon
{quote} I know the source its Maheeeeeeee
are you 500000000% sure
Insane in the Brain..
  • #641,092
  • Nov 23, 2021 10:15am Nov 23, 2021 10:15am
Quoting Pat Chiko
{quote} GU Add scalp {image}

GU


One for the road.


Attached Image (click to enlarge)
Click to Enlarge Name: gu 415.jpg Size: 104 KB
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #641,093
  • Nov 23, 2021 10:21am Nov 23, 2021 10:21am
Quoting Wavegarrick
{quote} Sell trade opened at 1.33742 s/loss 50 pips Cheers.
Here is what I would like to see Folks. Just maybe the Pound could be decoupling from the Euro. Eu has played its course for the year. Gu is lagging and in much need of a correction. We shall see.
Cheers.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_1388.png Size: 71 KB
Trade to trade another day
  • #641,094
  • Nov 23, 2021 10:37am Nov 23, 2021 10:37am
how do you decide when to add to an open position when price goes against you and when close the position with a loss?
  • #641,095
  • Nov 23, 2021 10:43am Nov 23, 2021 10:43am
the scenario i am watching... 136 seem very important and that could be my short trigger level for my final trade in 2021.
Attached Image (click to enlarge)
Click to Enlarge Name: guview2.png Size: 129 KB
MY OPINION NOT FINANCIAL ADVISE
  • #641,096
  • Nov 23, 2021 10:53am Nov 23, 2021 10:53am
Quoting stevepatt
{quote} GBP/USD Short Trade 1.34060 STOP 1.34188 TARGET 1.33860 {image} {image}

GBP/USD Short Trade Result

Target Hit 1.33860 +20 Pips

GBP/USD Pending Short Trade
Attached Image (click to enlarge)
Click to Enlarge Name: 23rd Nov 21 GBP_USD M30 Pending Short Trade_20211123_16.45.png Size: 120 KB
  • #641,097
  • Nov 23, 2021 10:58am Nov 23, 2021 10:58am
i’m in long
  • #641,098
  • Nov 23, 2021 11:06am Nov 23, 2021 11:06am
Quoting genadi
how do you decide when to add to an open position when price goes against you and when close the position with a loss?
I was watching a scalper’s explanation to this question in YouTube, but he was scalping off 1M chart, looking for 2-3 pip profit per trade and if the trade goes against him, he would add to a losing position, doubling the bet. In his words this is not adding to a losing position but adding margin to get out at BE or he would cut it completely in case the price goes against him with another 2-3 pip. I guess with longer moves ( 10+ pips ) it becomes much riskier in case the price does not come back. I have moved stops and still do sometimes, but as a general rule I would avoid adding to a losing position in case the price goes against me. At the end of the day, placing the stop is an art, not an extremely precise science and getting out of a losing trade is tricky, unless you are super confident in the price action IMO.
Did you place your stop loss order? Why not?!? Story of my life...
  • #641,099
  • Nov 23, 2021 11:14am Nov 23, 2021 11:14am
Quoting buddha-
i’m in long
what is your entry price?
where is your stop loss?
where is your take profit?
how much % of acc you are risking on this particular trade?
  • #641,100
  • Nov 23, 2021 11:15am Nov 23, 2021 11:15am
Quoting coyoteuglyxxx
{quote} I was watching a scalper’s explanation to this question in YouTube, but he was scalping off 1M chart, looking for 2-3 pip profit per trade and if the trade goes against him, he would add to a losing position, doubling the bet. In his words this is not adding to a losing position but adding margin to get out at BE or he would cut it completely in case the price goes against him with another 2-3 pip. I guess with longer moves ( 10+ pips ) it becomes much riskier in case the price does not come back. I have moved stops and still do sometimes,...
imagine scalping for 2-3 pips when your spread is bigger than 2 pips.
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