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Cable Update (GBPUSD)

  • #668,201
  • Jul 8, 2022 3:48pm Jul 8, 2022 3:48pm
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yes yes yes
  • #668,202
  • Jul 8, 2022 4:12pm Jul 8, 2022 4:12pm
Quoting ScalaFX
{quote} Still have time, D1 can close bullish today
Perfect daily looks juicy for further upside, bears loose this battle today with support in good data, I expect monday candle like a huge green dildo first target for me 2235 next 2500, wish all good weekend and see you monday
People don't plan to lose. They lose because they don't plan.
  • #668,203
  • Jul 8, 2022 4:23pm Jul 8, 2022 4:23pm
Quoting Moty
{image}{image}
Moty, don't dismiss the 1.2067-1.2104 zone. If GU continues down this is the most likely zone that may stop the progress up.
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Always trade your own plan...I don't provide trading signals.
  • #668,204
  • Jul 8, 2022 4:54pm Jul 8, 2022 4:54pm
Good night all, Eid Mubarak to those celebrating and see ya on Sunday
Insane in the Brain..
  • #668,205
  • Jul 8, 2022 9:59pm Jul 8, 2022 9:59pm
Quoting Fardeen1209
{quote} Hey Pat, is there any book or link where i can learn about the jigsaw?
Sorry fro late reply.

You can find and use Jigsaw Day tradring system by using Genetic Algorithms in existing software out there that does most of about in GA trading stuff and analysis.

There is Trade Station, its the platform of choice for quants, and you will find it can support all of your needs.
Another is Optimus Flow with TPO Profile Chart.

There is The Jigsaw Power Meters give a graphical representation of the “3 gears” of the market - Trade Execution, Market Intent, Market Manipulation. Those algo run of different string.

My beliefs is that there is NO algorithm that can predict market behavior.
Basically I think the general movement of the market is random, there is no ryhme or reason for why it moves how it does.

What i try to do is focus on the times when human emotion (which is somewhat predictable) is most at work. for instance, there is a lot of emotion and crowd reaction when the NFP report comes out.

If you study just NFP report days, then you start to find some interesting things.


P/S I does not represent any of those Algo or do not gain any monetary benefit by mentioning the above GA Algo platform.
Do not ask me to post the GA chart, as I only post MT4 in FF.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #668,206
  • Jul 8, 2022 10:20pm Jul 8, 2022 10:20pm
Quoting donfriday
{quote} We should see 1.22 first than a drop to 1.17. My view
This is also a strong possibility and an alternate scenario which means should 1.2065 breaks and price closes above it, that will be an invitation of 1.2200 first target and that occurence will likely invalidate 1.17 in the near term.

Quoting Mitiblotch
{quote} Meaning you may go short on Monday if 2065 fails? First I expect a spike to take out today's high then I'll see what happens after that. 188x was my target for a long time and I expected it to happens with divergence on the daily. If 1800 happens then early bulls may be flushed out. Also, price has this knack to rise against the dollar on a "good" NFP day then on Monday they rectify it. I will be watching keenly.
You have been paying attention to price behaviour which is advance price action, which is helping you a lot these days. You are now decoding these big players with relative ease, we all need foresight to succeed in this business

Quoting eyefeelsix
{quote} your underline pin point is the most important level, can determine the next trend direction, it has make a gree with my wave counting ( swing trade only guys ) btw, to avoid misunderstanding due to my language limitation, I just want to say thanks and thumbs up to you and all here, this thread is full of color lol I got addicted here and I hope this is not my last post here EFS
You are a good addition to this thread, we have lost many valuable members due to attacks from some impolite members, please do stay around and contribute more.
Data + Stat + Risk/Emotions Management
  • #668,207
  • Jul 8, 2022 10:50pm Jul 8, 2022 10:50pm
Quoting TheWolf
Just to inform you fellow traders I am going to try day trading and perhaps, if this proves to be a better strategy for me than scalping, also give a chance to swing trading too. But, I will start with day trading first. Starting on Monday. I just feel it would suit me much better than scalping, since I am not a fast thinker and like to take it easy and think long-term. Will it give a try and see..
Hi Wolf..... hope you're having a nice weekends fun..

First of all all the best and wish you find a good trading strategy next week on.

First off - don't get freaked out!
Confidence is the biggest requirement for any trading system or style.
Without it, you will fail regardless of how good your system is or isn't.

What moves the market may change over time; and the dominant driving currencies may change over time; but the underlying mechanics of the market will never change regardless of all else.

If you are a intra-day or swinger, your style or system may need to adjust to a changing market based on world events or sentiments - but I would never be as arrogant to tell someone that they must scrap their entire system and start over.

Adjust your system as the market adjusts, and you should never have to "invent" a new system.

Trade smart- watch for trend re-directions.
Markets can become biased quickly.
Trust your indicators and don't try to out guess them which is a huge temptation for seasoned traders that feel they know the market or currency pair well enough.

Lastly, you are the best judge of your trading system/style.
No one else can determine what will or won't work best for you as a trader.
It's best to develop a "confidence system" - which is a little "self check" of your confidence level of the position you are about to enter.
Low confidence - trade light and use tighter stops - more confidence - heavier entry - loosers stops.

Over time traders know(whether they recognize it or not) when a position is golden or may turn on them.
It's like driving down a dark and icey road - experienced drivers slow because they recognize the unapparent risk - new drivers still barrel on down the road because they lack the experience and intuition of self preservation to slow down and be careful - "just in case".

Believe in your self - believe in your system - there is no reason you can't succeed regardless of what others may say.

Wishing you all the green pips in the world.

PAT
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #668,208
  • Edited 11:21pm Jul 8, 2022 11:04pm | Edited 11:21pm
Quoting TheWolf
Preparing a lawsuit against Pat Chiko in case something goes wrong!
Peace Brother.

As token of peace and friendship , I offer you one piece of this, just don't drag me into lawsuit.......

I hope you accept it, can last at least one month.

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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #668,209
  • Jul 8, 2022 11:36pm Jul 8, 2022 11:36pm
Quoting Waveskierrob
Think we may have one of these amongst us. be careful folks {image}
I like to tell a story, sorry for my English, with limited vocabulary as non native English speaker.

Imagine someone who is driving around but has no where in particular to go.
We'll call him Warrick Dunn ( Footballer) .
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Mr. Dunn (or Done) stops at a fast food restaurant and orders a sandwich.
The sandwich turns out to be the worst sandwich he's ever had.
It's been burnt, dropped, and the sauce on it is spoiled.
As a result, Warrick complains and then talks to the other restaurant patrons about the food.

The manager is not very happy and kicks Warrick out.
Now Warrick is infuriated and starts a campaign through the local newspaper to have the restaurant closed.
This goes on for weeks and Warrick is willing to spend the time because he doesn't have anything else to do.

When people are loosing and not doing well in trading, they run into distractions.
Warrick had no place to go, no motivating force behind him, so he just attached himself to a poor tasting sandwich and his campaign against the restaurant took up a lot of his time.

Now imagine someone who has an important appointment that they must make within the next three hours.
They still have a 2.5 hour drive to make the appointment.
However, they stop at the same restaurant and get the same bad tasting sandwich.
Does the sandwich suddenly consume them?
No, they might complain and throw it away, but then they move on because they are committed to something else.

They either stop at another restaurant to buy something to go or they skip lunch.
To the successful person, the most important thing is the destination.

When a person are committed to becoming a good trader, they do whatever it takes.
And little things don't throw you off track.
When distractions arise, you just avoid them and focus on your goal.
That's the power of successful trader.
And commitment is essential to trading success.

In my experience, people who are not committed will find numerous distractions that will take up most of their time.
They complain that other trader are bad and cause bad decision in their trades, beside do what it takes to be successful as a trader, but most of their time is pre-occupied with distractions. Just look at Mr Dunn account recently, that's bad..

Leave him along, need time to pull up together , as monthly bills keep piling up.

The above is just a fictitious story.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #668,210
  • Jul 9, 2022 12:19am Jul 9, 2022 12:19am
Quoting eyefeelsix
{quote} S/L works when we are wrong thanks friends, U2
I kept my sister in law as SL when I got married, things went wrong when she got married, my SL vanished - pat
  • #668,211
  • Jul 9, 2022 1:17am Jul 9, 2022 1:17am
Quoting Pat Chiko
{quote} I like to tell a story, sorry for my English, with limited vocabulary as non native English speaker. Imagine someone who is driving around but has no where in particular to go. We'll call him Warrick Dunn ( Footballer) . {image} Mr. Dunn (or Done) stops at a fast food restaurant and orders a sandwich. The sandwich turns out to be the worst sandwich he's ever had. It's been burnt, dropped, and the sauce on it is spoiled. As a result, Warrick complains and then talks to the other restaurant patrons about the food. The manager is not very happy...
Brilliant
  • #668,212
  • Jul 9, 2022 1:32am Jul 9, 2022 1:32am
Quoting Pat Chiko
{quote} Hi Wolf..... hope you're having a nice weekends fun.. First of all all the best and wish you find a good trading strategy next week on. First off - don't get freaked out! Confidence is the biggest requirement for any trading system or style. Without it, you will fail regardless of how good your system is or isn't. What moves the market may change over time; and the dominant driving currencies may change over time; but the underlying mechanics of the market will never change regardless of all else. If you are a intra-day or swinger, your...
Thanks for kind words and optimism. I ran across this YouTube channel (a while back actually) called No Nonsense Forex ran by a guy who calls himself VP (Patrick). To keep it short, this is the best channel I came across and contains a hell lot of useful info. He is trading Daily TF and explains why it is that he decided to trade only Daily. I would HIGHLY encourage traders to go and look at his channel, because it just might change everything for you. It might change it for me, at least I am going to give it a shot. As I stated before, I like to take things slowly, hence decided on Daily and what's great this guy promotes Daily trading as the best thing that happened to him.
Tools I will be using is the indicator I already have and ATR which will actually serve the purpose, so I know where to put the SL at, he explains this in depth and goes through the math of it. Still have some things to go through before setting everything up. I will trade 15 pairs which means, the currencies I decided not to trade are AUD and NZD, so the other 6 I will trade with all of their combinations adding up to 15 pairs.

I will start adding trades 20 to 15 minutes before the Daily candle closes and will provide a chart of course with SL and TP with it. Trend is the friend, so if I get a signal to go long but we have a down-trend I decided I will risk 1% of the account and if I get a signal to go long and it is up-trend I will be risking 2%. No signal no trade.

The main idea is to minimize the losses in every way possible. Not losing is winning.

Well, I guess I will be seeing you all tommorow with my first Daily trade, of course, if I get a signal .

GL to us all!

Well, that is all for now, I will be seeing you
  • #668,213
  • Jul 9, 2022 3:19am Jul 9, 2022 3:19am
A 102% 13wk awr week, and a 98% 30day adr day, on Friday. A somewhat muted, but not untypical (nowadays) U.s NFP response on Friday.

* The Wkly chart closes the week close still in it's general downtrend, a classic downtrend since 3749 (ie all LL's, and LH's). The week saw a new LL @ 1876 in this downtrend. The close of the bearish bodied (but hammer type) wkly candle makes 2333 the 8th consecutive LH in that downtrend now. The potential sbr that began @ 1933 and extends to circa 2212 is the 1st potential upside obstacle on this t/f. Price challenged the 2nd half of this @ the wkly hi. (It's a wide zone.) The wkly falling wedge is still intact with price still inside it.
* The Dly chart sees Friday close still in it's general downtrend, and again, like the wkly, obviously, a new LL in that downtrend @ 1876. Friday's dly candle close is an inverted pinbar / hangingman type candle but whether the candle is actually bullish or bearish in and of itself,? only subsequent PA will tell us. This candle hi is challenging the prev sw lo zone that began @ 1976, = prev supp = pot sbr, and on this t/f extends to circa 2086. There is a repeating pattern of regular bullish divergence in the oscillators (@ that 1876 lo,) on this t/f.
* The 4Hr closes the week still in it's general downtrend but like dly there is a repeating pattern of regular bullish divergence in it's oscillators @ 1876 and a classic reversal pattern, the expanding triangle (exp tri) that has begun to play out with the move up from pt.5, which targets a fib ext of move 4-5. The last candle close (gmt+3 feed) was a 3rd consecutively bullish close on this t/f. The prev sw hi zone to Friday's hi = prev res = pot res, is the 1st real potential upside obstacle on this t/f.

Wkly, Dly, 4Hr below
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Trader with an Edge.
  • #668,214
  • Jul 9, 2022 3:30am Jul 9, 2022 3:30am
Hello guys, it is time to Vote....

Which of these prices will be seen first next week

1.1757 or 1.2305

Voting Closes 5 minutes before market close...
Data + Stat + Risk/Emotions Management
  • #668,215
  • Jul 9, 2022 3:33am Jul 9, 2022 3:33am
1.23
People don't plan to lose. They lose because they don't plan.
  • #668,216
  • Jul 9, 2022 3:36am Jul 9, 2022 3:36am
Hi Pat, your vote is needed...
Data + Stat + Risk/Emotions Management
  • #668,217
  • Jul 9, 2022 3:38am Jul 9, 2022 3:38am
Quoting Georginson
Hello guys, it is time to Vote.... Which of these prices will be seen first next week 1.1757 or 1.2305 Voting Closes 5 minutes before market close...
Equidistant 274pips up/down from the week's close...my 13wk (1/4 year) awr is 281. Weds may have a say in it with Uk Gdp and U.s Cpi, No idea though, it would just be a guess (which is not how my edge is derived,) and as I am always carping on about those that think they can predict, (they can't - for the avoidance of any doubt,) or what they feel/think/expect (like the market gives a shit about what we feel/think/expect,) I'll stay quiet lol! It would somehow be hypercritical to guess.
Trader with an Edge.
  • #668,218
  • Jul 9, 2022 3:39am Jul 9, 2022 3:39am
Quoting Georginson
Hello guys, it is time to Vote.... Which of these prices will be seen first next week 1.1757 or 1.2305 Voting Closes 5 minutes before market close...
1.2305 by the end of the month, not necessarily next week.
  • #668,219
  • Jul 9, 2022 3:44am Jul 9, 2022 3:44am
Quoting Headland
{quote} Equidistant 274pips up/down from the week's close...my 13wk (1/4 year) awr is 281. Weds may have a say in it with Uk Gdp and U.s Cpi, No idea though, it would just be a guess (which is not how my edge is derived,) and as I am always carping on about those that think they can predict, (they can't - for the avoidance of any doubt,) or what they feel/think/expect (like the market gives a shit about what we feel/think/expect,) I'll stay quiet lol! It would somehow be hypercritical to guess.
Hi mate, you like too much grammar, lol.. just a simple harmless vote needed nothing hypocritical about it. Let's have some fun.
Data + Stat + Risk/Emotions Management
  • #668,220
  • Jul 9, 2022 3:54am Jul 9, 2022 3:54am
Quoting Georginson
Hello guys, it is time to Vote.... Which of these prices will be seen first next week 1.1757 or 1.2305 Voting Closes 5 minutes before market close...
1.1757
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