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Cable Update (GBPUSD)

  • #650,601
  • Feb 2, 2022 5:45am Feb 2, 2022 5:45am
Quoting Jolita
{quote} Your time frame - 1 minute? I see as a sell signal.
I see as a sell signal

Whether or not there is a sell SIGNAL is up to one's sell criteria being met. (Mine wasn't.)
To free Gazans of Hamas, use whatever it takes.
  • #650,602
  • Feb 2, 2022 5:47am Feb 2, 2022 5:47am
Quoting chess king
to me 3549/56 is the ST target break 3435 invalidate the target
Of course, it didn't take a week to reach the target. but the market is like this likes to scare before doing
  • #650,603
  • Feb 2, 2022 5:51am Feb 2, 2022 5:51am
early we had some news, f.i. about the out of Boris, no hope today
  • #650,604
  • Feb 2, 2022 5:52am Feb 2, 2022 5:52am
Quoting chess king
{quote} Of course, it didn't take a week to reach the target. but the market is like this likes to scare before doing
the market is like this likes to scare before doing
Hmmm. Seems to me that if you are entering trades and feeling scared while they are open, you either have little confidence in the criteria of your trading system or that you fail to implement those criteria (for whatever reason).
To free Gazans of Hamas, use whatever it takes.
  • #650,605
  • Feb 2, 2022 5:56am Feb 2, 2022 5:56am
Quoting DrDave
{quote} I see as a sell signal Whether or not there is a sell SIGNAL is up to one's sell criteria being met. (Mine wasn't.)

Ok.

Would you please share 4h view?

1minute graph is unreliable, unless you scalp on 1 m timeframe.
  • #650,606
  • Feb 2, 2022 5:59am Feb 2, 2022 5:59am
there is a possible hold zone at 3555-3560 on the M5 frame for re-entry long.
If it breaks then there is a zone on M30 3535-3545.

just my opinion
in wondering about yourself, you forgot what you came here to be part of
  • #650,607
  • Feb 2, 2022 6:02am Feb 2, 2022 6:02am
Quoting kuroro001
Trying short here 3583 Positionning is clearly saying upside, but its overextended here
Quick +25 for now

Either reload near the top, or i'll buy below 3540 as trend is up
COT: The precious data ignored
  • #650,608
  • Feb 2, 2022 6:08am Feb 2, 2022 6:08am
Quoting Jolita
{quote} Ok. Would you please share 4h view? 1minute graph is unreliable, unless you scalp on 1 m timeframe.
1minute graph is unreliable
LOL
More misconceptions.
You, like many others, fail to SCALE DOWN your perspective as you scale down the TF.

The probability of you (or anyone else) correctly identifying which TF is being posted if there are no indications to give you clues, such as many of the images that I post, is nearly 0.

Think about this: If the M1 plots are unreliable, then what makes them unreliable? It COULD be that the underlying data that are used to construct the plot are unreliable. Or it could be that the algorithms being used to construct the plots are unreliable. That is, we have a function that we expect to return the same result if the same input is used, no matter how many times the input is applied, but we discover that sometimes an unexpected result is returned. Then, if either of these cases are true, wouldn't EVERY TF that is used also be unreliable, simply because every TF is using the same underlying data and same algorithms?
To free Gazans of Hamas, use whatever it takes.
  • #650,609
  • Feb 2, 2022 6:15am Feb 2, 2022 6:15am
Quoting Jolita
{quote} Ok. Would you please share 4h view? 1minute graph is unreliable, unless you scalp on 1 m timeframe.
As for H4, well, that is merely an upswing that has continued all the way through D1 to paint its up continuation. D2 is expected to go up with it. I already spoke about in this post yesterday.

Quoting DrDave
I have an expectation that when the D2 down swing completes, it will be only a pullback, and then the ensuing D2 up continuation to keep W2 going up.
By the way, why be concerned about the H4??? It CANNOT stop going up if the H2 doesn't stop. And H2 CANNOT stop going up if the H1 doesn't stop. And H1 CANNOT stop going up if M30 does not stop. I think you get the progression, no?
To free Gazans of Hamas, use whatever it takes.
  • #650,610
  • Feb 2, 2022 6:23am Feb 2, 2022 6:23am
Quoting knkie
there is a possible hold zone at 3555-3560 on the M5 frame for re-entry long.
the M5 zone held so im long again from 3563.
tight stop until 3578 on m30,
then let it run again.
in wondering about yourself, you forgot what you came here to be part of
  • #650,611
  • Feb 2, 2022 6:32am Feb 2, 2022 6:32am
Quoting DrDave
{quote} 1minute graph is unreliable LOL More misconceptions. You, like many others, fail to SCALE DOWN your perspective as you scale down the TF. The probability of you (or anyone else) correctly identifying which TF is being posted if there are no indications to give you clues, such as many of the images that I post, is nearly 0. Think about this: If the M1 plots are unreliable, then what makes them unreliable? It COULD be that the underlying data that are used to construct the plot are unreliable. Or it could be that the algorithms being used...

I trust higher timeframes weekly, daily and 4 hr, these are my main times I use. 15 mins is great of opening/closing trades.
Saying 1 minute is unreliable is right as the next minute could be a different story. Only for this reason is unreliable. I know some traders are scalping 1m charts and works well.

Your graphs remind me of EMA's principle. I would only be comparing higher TF settings. Depends of your trading method.

Sure it works for you.
In a scale of 10 how many profitable trades you had using your observations?
  • #650,612
  • Feb 2, 2022 6:35am Feb 2, 2022 6:35am
Quoting knkie
{quote} the M5 zone held so im long again from 3563. tight stop until 3578 on m30, then let it run again.
OK. But I don't see any zone there. But no matter, because unless evidence to the contrary, for me, an M5 buy now is a RETRACEMENT buy, not an up continuation buy, so carries a lot of (unnecessary) risk.
To free Gazans of Hamas, use whatever it takes.
  • #650,613
  • Feb 2, 2022 6:41am Feb 2, 2022 6:41am
Quoting ForexGoose
Why GBP/USD will rally. https://www.bnnbloomberg.ca/the-boe-...hike-1.1709009 {quote} Next week, I expect range trading around the 1.34 level on GBP/USD until the rate hike. Then I expect GBP/USD to rally towards 1.38 at least. Trade setups: 1. Buy from 1.34 level, stop loss under 1.33 for weaklings and mere mortals. 2. Buy from 1.34 level, stop loss under 1.316 for pros to protect against fat fingers and crazy volatility. Have fun and good luck. {image}
I think that 1.36 could be the top for this pair prior to the BOE meeting on Thursday. If the BOE is not hawkish enough, then there could be a dump from the 1.36 level towards 1.33 and under.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD_2022-02-02_09-39-54.png Size: 127 KB
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #650,614
  • Feb 2, 2022 6:42am Feb 2, 2022 6:42am
Quoting Jolita
{quote} I trust higher timeframes weekly, daily and 4 hr, these are my main times I use. 15 mins is great of opening/closing trades. Saying 1 minute is unreliable is right as the next minute could be a different story. Only for this reason is unreliable. I know some traders are scalping 1m charts and works well. Your graphs remind me of EMA's principle. I would only be comparing higher TF settings. Depends of your trading method. Sure it works for you. In a scale of 10 how many profitable trades you had using your observations?
hello jolita how are you, hope you fine shine, i am also use 1 mint and 5 mint TF for short time trading for long entry i use 4 hour .. as you say every one have own trading method, you saying right...
  • #650,615
  • Feb 2, 2022 6:45am Feb 2, 2022 6:45am
Quoting DrDave
{quote} OK. But I don't see any zone there. But no matter, because unless evidence to the contrary, for me, an M5 buy now is a RETRACEMENT buy, not an up continuation buy, so carries a lot of (unnecessary) risk.
hmmm wel i think we just retraced from 83-high and continuing upward.
But i could be wrong.

The zone is something dynamic i developed, still testing it.
No worries, i can get out with a few pips loss and ive already hit enough pips for the day som just playing around a bit now.

thanx for your input though
in wondering about yourself, you forgot what you came here to be part of
  • #650,616
  • Edited 7:07am Feb 2, 2022 6:48am | Edited 7:07am
Quoting Jolita
{quote} I trust higher timeframes weekly, daily and 4 hr, these are my main times I use. 15 mins is great of opening/closing trades. Saying 1 minute is unreliable is right as the next minute could be a different story. Only for this reason is unreliable. I know some trades are scalping 1m charts and works well. Your graphs remind me of EMA's principle. I would only be comparing higher TF settings. Depends of your trading method. Sure it works for you. in a scale of 10 how many profitable trades you had using this observations?
Saying 1 minute is unreliable is right as the next minute could be a different story.

OK, let's do a generalization on that and see where it leads us. On M1 TF, the next minute is the next bar. We accept that the same data are used to plot all TFs.
Then, the generaliztion: TF XN is unreliable is right as the next BAR could be a different story.

So there we have it. Your criteria of being unreliable is the possibility of the next bar being "a different story" leads to the conclusion that EVERY TF is unreliable because for EVERY TF, we CANNOT know what the next bar will be like, so the next bar "could be a different story".

So with EVERY TF being unreliable, we can confidently select any TF that makes us "feel" like it is better than some other TF without any worries about its actual reliability making it any different than any other TF.
To free Gazans of Hamas, use whatever it takes.
  • #650,617
  • Feb 2, 2022 6:50am Feb 2, 2022 6:50am
Quoting DrDave
{quote} By the way, why be concerned about the H4??? It CANNOT stop going up if the H2 doesn't stop. And H2 CANNOT stop going up if the H1 doesn't stop. And H1 CANNOT stop going up if M30 does not stop. I think you get the progression, no?

''Performing the top-down analysis encourages trading with the larger trend''.

Here is good explanation about the timeframes-
https://www.investopedia.com/article...-timeframe.asp
  • #650,618
  • Feb 2, 2022 6:53am Feb 2, 2022 6:53am
Quoting Jolita
{quote} ''Performing the top-down analysis encourages trading with the larger trend''. Here is good explanation about the timeframes- https://www.investopedia.com/article...-timeframe.asp
thanks jolita for this
  • #650,619
  • Feb 2, 2022 6:54am Feb 2, 2022 6:54am
Quoting Bigbul
{quote} hello jolita how are you, hope you fine shine, i am also use 1 mint and 5 mint TF for short time trading for long entry i use 4 hour .. as you say every one have own trading method, you saying right...

Hey Bigbul, how are you?

Long time no see around! Trading in private?

I am great, thank you. I am stuck with my shorts, thinking whether to close them.

Got to go now. Speak soon.
  • #650,620
  • Feb 2, 2022 6:57am Feb 2, 2022 6:57am
Quoting knkie
{quote} hmmm wel i think we just retraced from 83-high and continuing upward. But i could be wrong. The zone is something dynamic i developed, still testing it. No worries, i can get out with a few pips loss and ive already hit enough pips for the day som just playing around a bit now. thanx for your input though
I always find it interesting to see what ideas other folks are using.

Well, looks like my expectation of just a rally on M5 has been met. Still need to see how the current down leg plays out to see how "convincing" this M5 down trend is.

Attached Image
To free Gazans of Hamas, use whatever it takes.
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