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Cable Update (GBPUSD)

  • #667,041
  • Jul 4, 2022 9:44am Jul 4, 2022 9:44am
Needs to drop below 121 to confirm the near time bear bias
Insane in the Brain..
  • #667,042
  • Jul 4, 2022 9:47am Jul 4, 2022 9:47am
Quoting Tronis
{quote} Ha ha, you like to find QMs, I didn't even see that and again you are on the opposite side Don't worry I'm not offended
Lol...........

Sometimes and every time, we see what we want to see.

But that QM is not that strong as price already broken H1 structure and about to RT H4 structure.
Taken into consideration Price need to find liquidity to move /continue her journey, next possible level is going into testing the H4 Resistance level.

BTW, that was just my theory, price may want to do her things as you know it.

Thanks for your sporting spirit and my apology again if I offended you.

Trading should be fun and profitable. If not, we going to be very lonely journey talking to our self.

Take care Bro and Be Safe,.

Pat cHikO

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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #667,043
  • Jul 4, 2022 9:56am Jul 4, 2022 9:56am
Quoting eyefeelsix
{quote} QM is one of the best price action reactions

The best tool is still Price Action and Basic Structure.
Master the Basic, the rest will follow, because......

Most systems are adapt to one market condition but not another.
Most new traders are completely unaware of varying market aspects and view it in a very micro environment.

Never really seeing the big picture or attempting to understand market behavior.
Not just technical and fundamentals...those are catalysts to movement, but not the true behavior.

EDIT :

Example of the above statement.
USD JPY

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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #667,044
  • Jul 4, 2022 9:59am Jul 4, 2022 9:59am
Quoting BeeTogether
Needs to drop below 121 to confirm the near time bear bias
It will happen. That inverse HS is too obvious and it is on a small timeframe. It will breakdown. I have seen this happen over and over and over again. In my experience, for a good QM/inverse HS, the right hand that holds right shoulder should break the high of the left hand that holds the left shoulder. I had to draw this to show what I mean:
Attached Image (click to enlarge)
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So when it doesn't, it isn't a good Quasimodo pattern for me. The same thing if it is a proper HS pattern. The right hand side breaking the high/low for an inverse HS/proper HS shows an intent that price wants to continue in the direction shown. In GU's case today, the rjght hand didn't even touch the high of the left hand. In my books, bad QM!

It may work out still, but I don't like taking such.
  • #667,045
  • Jul 4, 2022 10:06am Jul 4, 2022 10:06am
Quoting Pat Chiko
{quote} Lol........... Sometimes and every time, we see what we want to see. But that QM is not that strong as price already broken H1 structure and about to RT H4 structure. Taken into consideration Price need to find liquidity to move /continue her journey, next possible level is going into testing the H4 Resistance level. BTW, that was just my theory, price may want to do her things as you know it. Thanks for your sporting spirit and my apology again if I offended you. Trading should be fun and profitable....
At the moment we are both making money on those trades. Can you give up on them and help me pull my short down I have bigger bills to pay and I don't know why you keep apologizing
  • #667,046
  • Jul 4, 2022 10:11am Jul 4, 2022 10:11am
Quoting Pat Chiko
{quote} The best tool is still Price Action and Basic Structure. Master the Basic, the rest will follow, because...... Most systems are adapt to one market condition but not another. Most new traders are completely unaware of varying market aspects and view it in a very micro environment. Never really seeing the big picture or attempting to understand market behavior. Not just technical and fundamentals...those are catalysts to movement, but not the true behavior. EDIT : Example of the above statement. USD JPY {image}
KISS ..Keep It Stupidly Simple ....... if they made Trading "Top Trump" cards. Money management would beat everything
  • #667,047
  • Jul 4, 2022 10:15am Jul 4, 2022 10:15am
Quoting BeeTogether
{quote} yup H&s I’ve heard of QM was in a disney film
Lol yeah, the Hunchback. Whoever came up with this pattern must be really creative or high on something.
  • #667,048
  • Jul 4, 2022 10:21am Jul 4, 2022 10:21am
Quoting Wavegarrick
{quote} Nice little bounce from my weekly support 2 at 1.20888. I would like to see a weekly close back above 1.22000 to bring Bulls back into the picture. In the meantime Grind, grind and more grind. All the best for tomorrow, last day of the week and 1st day of July. Cheers. {image}
Hi Guys,
Right now I am in a buy trade and could look to add more buy trades. Important to me is for price to stay above 1.21000. My weekly open at 1.21020 ish is important and a solid break below 1.21000 will invalidate my trade, at any rate I have a 50 pip s/loss on it.
Have a great week,
Cheers.
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Trade to trade another day
  • #667,049
  • Jul 4, 2022 10:37am Jul 4, 2022 10:37am
Quoting Pat Chiko
{quote} The best tool is still Price Action and Basic Structure. Master the Basic, the rest will follow, because...... Most systems are adapt to one market condition but not another. Most new traders are completely unaware of varying market aspects and view it in a very micro environment. Never really seeing the big picture or attempting to understand market behavior. Not just technical and fundamentals...those are catalysts to movement, but not the true behavior. EDIT : Example of the above statement. USD JPY {image}...
Exactly my friend! that is the main point. I use PA as steering, gas and brakes on the car, and EW as my maps and GPS,.. that's how I navigate the market movement

btw your english is realy good

salam, EFS

Quoting Waveskierrob
{quote} KISS ..Keep It Stupidly Simple ....... if they made Trading "Top Trump" cards. Money management would beat everything
the best strategy in the world!
https://breakpullback.com
  • #667,050
  • Jul 4, 2022 10:40am Jul 4, 2022 10:40am
Quoting Wavegarrick
{quote} Hi Guys, Right now I am in a buy trade and could look to add more buy trades. Important to me is for price to stay above 1.21000. My weekly open at 1.21020 ish is important and a solid break below 1.21000 will invalidate my trade, at any rate I have a 50 pip s/loss on it. Have a great week, Cheers. {image}
it seems to be scrapping the 121 barrel atm
Insane in the Brain..
  • #667,051
  • Jul 4, 2022 10:41am Jul 4, 2022 10:41am
Quoting eyefeelsix
{quote} Exactly my friend! that is the main point. I use PA as steering, gas and brakes on the car, and EW as my maps and GPS,.. that's how I navigate the market movement btw your english is realy good salam, EFS
Due to his success his ability to attract trolls is also second to none .....ps hate him because his Engilsh is better than mine
  • #667,052
  • Edited 11:21am Jul 4, 2022 11:06am | Edited 11:21am
Quoting Mitiblotch
They said today is Monday and it will be slow. Lol... Bulls are having a great time. My 2114 and 2130 shorts are stuck for now. I am still aiming for 2060 or below. Not today, though, as Monday is one-way traffic.
All trades in profit. I repeat, in profit. Lol.. now bank all and leave just the one from 2130. I should have added at 2157 but wanted to play safe. ScalaFX is bolder in these situations.

Tomorrow we sink it lower!
  • #667,053
  • Jul 4, 2022 11:07am Jul 4, 2022 11:07am
Quoting Georginson
Bought at 1.2050, target 1.2180, target is expected to be met between Monday Tuesday next week. I will start adding long term buys from 1.2000 to 1.1900 for a target of 1.3800 year end. In summary July Target 1.2500 November/December Target 1.3800.
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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #667,054
  • Jul 4, 2022 11:12am Jul 4, 2022 11:12am
Quoting TooSlow
{quote} {image}
where's the stop?
https://breakpullback.com
  • #667,055
  • Jul 4, 2022 11:20am Jul 4, 2022 11:20am
Quoting ScalaFX
GU sell 2120 TP 1970 pendings 2130 2140 2150 shorts
Closed half and all protected
People don't plan to lose. They lose because they don't plan.
  • #667,056
  • Jul 4, 2022 11:22am Jul 4, 2022 11:22am
...missed the short down from today's current dly hi - nice bearish div plays 1min + on there, 5min in particular with the hanging man trigger close. An edge of the cliff fall on 1hr after the retest of the hi. I Decided to finish after a long up to there from some 5min bullish hidden div lower down discussed here earlier. It was that general zone again - discussed earlier and shown on 4hr below...it touched the bottom of it.

Currently challenging a prev minor 30min sw lo zone = prev supp = pot supp (more 15min than 30min actually re a true fractal swing,) shown on 1hr below in pink. Over 76.4% of the rise today given back at the current pullback lo of that rise.

4hr then 1hr below
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Trader with an Edge.
  • #667,057
  • Jul 4, 2022 11:28am Jul 4, 2022 11:28am
Set TP to 12060 SL moved to b/e (accumulation 12130)
Insane in the Brain..
  • #667,058
  • Jul 4, 2022 11:35am Jul 4, 2022 11:35am
...there is bullish hidden div (valid whilst price above current dly lo) on 30min and 1hr at the current pullback lo off the current dly hi but niot much of a 2hr or 4hr [respectively,] uptrend to enter after such a pullback in those t/f combo's.
Trader with an Edge.
  • #667,059
  • Jul 4, 2022 11:36am Jul 4, 2022 11:36am
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yes yes yes
  • #667,060
  • Jul 4, 2022 11:54am Jul 4, 2022 11:54am
...wasn't perfect re that hidden div as 1. There isn't much of a 2hr or 4hr uptrend, and 2. There wasn't any 2hr or 4hr potential rbs [respectively] at the current pullback lo for the 30min or 1hr hidden div. Was however the 85.4% of the dly rise so far....only a scalp - Serpendipity really as was back at desk updating 1hr/4hr potential supp/res charts. Good regular bullish div plays to get involved earlier (generally riskier) from 1min upwards, 5min below by way of eg, with double div on the histo osc.

5min then 1hr below (sorry chart posted above was 30min not 1hr as labelled...Do'h!)
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Trader with an Edge.
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