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Cable Update (GBPUSD)

  • #657,521
  • Apr 28, 2022 7:36am Apr 28, 2022 7:36am
US data not too good we could see a retrace upto 125 but the trend is down
Insane in the Brain..
  • #657,522
  • Apr 28, 2022 7:39am Apr 28, 2022 7:39am
Quoting IBabyTrader
{quote} I am not buying yet, just an idea of short term scalps. But there should be some point where would reverse. I cannot just keep going down to zero right?
No we will not go to zero. If you mean reverse in terms of a relief rally, yes we will turn but all the big money will be waiting to sell you more on any rally. Don't swim upstream!!
Plan, Prepare, Execute, Repeat
  • #657,523
  • Apr 28, 2022 7:44am Apr 28, 2022 7:44am
Quoting OnlineAddict
{quote} Because we have all seen clear downtrends turn into clear uptrends and vice versa.
So, its been almost 15 years, when were you thinking it could turn...today? maybe next week?
I totally agree that it will turn, however most of the guys and gals on this thread will be on account number 12 before it does.

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Plan, Prepare, Execute, Repeat
  • #657,524
  • Apr 28, 2022 7:49am Apr 28, 2022 7:49am
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  • #657,525
  • Apr 28, 2022 8:00am Apr 28, 2022 8:00am
Time to long BRN 1.24?
  • #657,526
  • Apr 28, 2022 8:01am Apr 28, 2022 8:01am
Quoting IBabyTrader
{quote} I am not buying yet, just an idea of short term scalps. But there should be some point where would reverse. I cannot just keep going down to zero right?
I again mate, but you were asking me about 1.3, right? I guess you typed wrong if you are looking to scalp? General scalp definition is quick in and out trades, can be many a day... Did I understand your first question all wrong because of a typo?:
Quoting IBabyTrader
{quote} Very nice mate. Where do you think we can expect a bull resume back to 1.3x? Do you see anywhere near? I am thinking of start to buy from 1.237x area all the way up. Is that a good idea?
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #657,527
  • Apr 28, 2022 8:05am Apr 28, 2022 8:05am
Quoting swingtrade65
{quote} So, its been almost 15 years, when were you thinking it could turn...today? maybe next week? I totally agree that it will turn, however most of the guys and gals on this thread will be on account number 12 before it does. {image}
15 years? WTF? We are not trading 10 year candles here, dude! GU, not so long ago, was crazy weak below 1.15, dropping like a stone...if you were selling the "trend" back then, soon you would be in a 2700 pip drawdown over above 1.42.
Everyone can see the chart, but only a few can actually read it.
  • #657,528
  • Apr 28, 2022 8:15am Apr 28, 2022 8:15am
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Intraday Trading is an Art _ hoda
  • #657,529
  • Apr 28, 2022 8:16am Apr 28, 2022 8:16am
Quoting OnlineAddict
{quote} 15 years? WTF? We are not trading 10 year candles here, dude! GU, not so long ago, was crazy weak below 1.15, dropping like a stone...if you were selling the "trend" back then, soon you would be in a 2700 pip drawdown over above 1.42.
15 years was to make a point, apparently something that is over your head. Since you have it all figured out, make sure and post a pic of your new Porsche.
The posts were meant for less experienced people to be very careful about jumping to buy a strong downtrend. Simple advice that is always distorted and twisted by folks like you because you don't have shit else to do but argue with folks.
Plan, Prepare, Execute, Repeat
  • #657,530
  • Apr 28, 2022 8:22am Apr 28, 2022 8:22am
Quoting swingtrade65
{quote} 15 years was to make a point, apparently something that is over your head. Since you have it all figured out, make sure and post a pic of your new Porsche. The posts were meant for less experienced people to be very careful about jumping to buy a strong downtrend. Simple advice that is always distorted and twisted by folks like you because you don't have shit else to do but argue with folks.
You "trend" guys always come too late into threads...most of the time it means trend is turning. I still remember the USDCAD bulls...buying at 1.45 and laughing at people who were selling...because you know...it was a strong uptrend.
Everyone can see the chart, but only a few can actually read it.
  • #657,531
  • Apr 28, 2022 8:28am Apr 28, 2022 8:28am
Definitely selling the low of this 1H candle -1pip. IF it ever gets back there I had same volatility in trend setup Tuesday at around this time, worked great.
IMPORTANT!Past result does not guarantee future... But with a little mm magic, all works out in the long run. Long term focus is where the magic lies for me, no matter the amount or type of trades.
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #657,532
  • Apr 28, 2022 8:30am Apr 28, 2022 8:30am
Good Morning y'all! Happy Thursday!
Maybe abounce off the 23.6 Fibo Line... Might be a bounce back down... Going in for a sell...
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My Future is so Bright I gotta wear Shades! https://www.youtube.com/watch?v
  • #657,533
  • Apr 28, 2022 8:31am Apr 28, 2022 8:31am
It’s interesting to see all the different approaches to trading. Trading is like people no one is the same, everyone is different.
  • #657,534
  • Apr 28, 2022 8:40am Apr 28, 2022 8:40am
My prediction for the FUTURE! It will go down to the support for the day... Will it hold or break? What Say Ye? (Yes "Americans" can speak old English!)

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My Future is so Bright I gotta wear Shades! https://www.youtube.com/watch?v
  • #657,535
  • Apr 28, 2022 8:42am Apr 28, 2022 8:42am
Quoting OnlineAddict
{quote} You "trend" guys always come too late into threads...most of the time it means trend is turning. I still remember the USDCAD bulls...buying at 1.45 and laughing at people who were selling...because you know...it was a strong uptrend.
Every trend that has a beginning must have an end. Asking someone to follow the trend might be right but what if the trend is being followed at the extreme end? Of course stop loss can be applied for short term solution but if the stop loss gets taken out and the trade eventually turn out to have a big win if the stop had not taken it out? Big IF right?

What we should educate ourselves about are

✓how to identify breakouts in order to quickly follow the trend;
✓how to identify ranging price for easy scalping which happens 70% of the times and know when to flee from it before next break out;
✓how to manage effectively manage risks and control emotions in trading.

This isn't about feeding our egos, it's all about how to show humanity to others during losses and helping one another to get better.

90% of the things I have learned so far in forex trading were learnt immediately after heavy losses and gradually making me a better trader than I was yet perfection isn't still dining and wining with me as it's almost impossible to attain perfection.

As it stands this current April range has stretched to 745 pips and it's dangerously approaching maximum of 800 pips axis last attained September 2020 and July 2020.

Should 800 pips happen this April, it means 1.2360 area will be attained and that's a very old support and my optimum take is this usually bounced by at least 680 pips after such relentless fall.

See January to April 2013 and January to April 2020 for more clues...

Cheers, George.
Data + Stat + Risk/Emotions Management
  • #657,536
  • Apr 28, 2022 8:43am Apr 28, 2022 8:43am
Quoting OnlineAddict
{quote} You "trend" guys always come too late into threads...most of the time it means trend is turning. I still remember the USDCAD bulls...buying at 1.45 and laughing at people who were selling...because you know...it was a strong uptrend.


Hey Online Addict, when did this happen.. Just curious...
My Future is so Bright I gotta wear Shades! https://www.youtube.com/watch?v
  • #657,537
  • Apr 28, 2022 9:06am Apr 28, 2022 9:06am
Quoting fxmasterdxb
I expect between 1.2415-1.2400 the bear move will terminate
PA came back to take me on board and then fly the buy limit is activated
  • #657,538
  • Apr 28, 2022 9:12am Apr 28, 2022 9:12am
Quoting OnlineAddict
{quote} You "trend" guys always come too late into threads...most of the time it means trend is turning. I still remember the USDCAD bulls...buying at 1.45 and laughing at people who were selling...because you know...it was a strong uptrend.
Strange. I have seen many shares of successful trend trading. On another note, me, personally, with one given pair, I have regularly up trend trades at the same time of downtrend trades and to another trader price could be only ranging... Sometimes I'm ranging trading while another is trend trading, sometimes I'm countertrend trading while another is trend trading. It's all the same to me... Just different interpretations in time. It's all so relative and diverse, and that is the beauty of it, at least for me. Managing of it all for long-term consistency might be the bigger, more juicy story... So I cannot see "trend, ranging, countertrend, breakout, etc. guys" I just see my own narrow view restricted by my mechanical strategies, all quite different from one another, all the while complementing each other in the end... In my beginnings, and for a quite a few years before I started developing other approaches, I traded exclusively the 5min+15min trends, when they were of quality. But it is not always possible to get it right, hence mm. The rest of the times, when ranging went on and on, it was tough. Curve was much more rougher than today. Adding more TFs and Diversification in approaches, like decent ranging strats, is grand and was a must for me, but I couldn't do without some trending optimized approaches. My first , the trend !
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #657,539
  • Apr 28, 2022 9:26am Apr 28, 2022 9:26am
Attached Image (click to enlarge)
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yes yes yes
  • #657,540
  • Apr 28, 2022 9:27am Apr 28, 2022 9:27am
Quoting mtako
{quote} Strange. I have seen many shares of successful trend trading. On another note, me, personally, with one given pair, I have regularly up trend trades at the same time of downtrend trades and to another trader price could be only ranging... Sometimes I'm ranging trading while another is trend trading, sometimes I'm countertrend trading while another is trend trading. It's all the same to me... Just different interpretations in time. It's all so relative and diverse, and that is the beauty of it, at least for me. Managing of it all for long-term...
I very much agree with you. That's what fractal is. In a downturn, a larger uptrend is formed and In a uptrun, a larger downtrend is formed at different times;And at one point the game changes again.You can be both a seller and a buyer. And both sides are right.The most important issue is how much profit you want to get from both sides.fractal is about change time
There is nothing wrong with being kind & loving to each other
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