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Cable Update (GBPUSD)

  • #671,281
  • Jul 24, 2022 12:19pm Jul 24, 2022 12:19pm
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MY GRID. Markets are NOT random.
  • #671,282
  • Jul 24, 2022 12:24pm Jul 24, 2022 12:24pm
goodluck
  • #671,283
  • Edited 2:23pm Jul 24, 2022 1:47pm | Edited 2:23pm
Quoting navk
{quote} This is m1/m30 combo. First m1 momentum signal ( Buy arrow ) at 1976. 5 min candle develops at 1976. 15 min candle develops at 1983. 30 min candle develops around 1985/1890. That a is BUY ! Until now the price moved up to 2005. Potential profit of 15 pips. {image}
Hi Navk thank you for sharing.
I was wondering when you take such a trade setup:
- do you monitor your exit on the M1, M5 or M30 time frame?
- And do you use a Level target or a counter momentum signal to exit?

thanx
in wondering about yourself, you forgot what you came here to be part of
  • #671,284
  • Jul 24, 2022 3:28pm Jul 24, 2022 3:28pm
GBPUSD price action on the daily time frame went a bullish pullback after the breakdown of the 1.20780/1.19590 long-term horizontal support zone (green) seen on the weekly time frame but became sideways within the zone. Although we may see some northward market engineering for liquidity grab, such bullish move would be temporary, giving way to a southward rotation.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #671,285
  • Jul 24, 2022 4:04pm Jul 24, 2022 4:04pm
Quoting Wavegarrick
{quote} Hi Palpite, The reason I do not rely on longer term trend lines with bar charts is because your trend line is drawn on the weekly time frame and based on the next bar. Translate that to the smaller time frames and you find a massive difference. It is the space that is created on your chart to form the next bar on your chart that becomes unreliable. Perhaps line charts become more reliable, Cheers. {image}
I did what you said, and the chart H4 is showing better the breakout of the trendline. For while 1.24 is the resistence.

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Together we can be strongest
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  • #671,286
  • Jul 24, 2022 5:03pm Jul 24, 2022 5:03pm
Quoting Fardeen1209
Yellen: "I'm not seeing evidence of a Us recession now" 75 - 100 bps. Tomorrow Tokyo session, might we see an upward moving for Uj?

Says the woman blindsided by inflation
Who in their right mind doesn't trust grandma?

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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #671,287
  • Jul 24, 2022 6:10pm Jul 24, 2022 6:10pm
Quoting Pat Chiko
{quote} Says the woman blindsided by inflation Who in their right mind doesn't trust grandma? {image}
Indeed their speeches and Economic data, majority of time stand in sharp contrast to each other
More time in the market, does not mean you trade better!
  • #671,288
  • Edited 6:30pm Jul 24, 2022 6:12pm | Edited 6:30pm
Quoting knkie
{quote} Hi Navk thank you for sharing. I was wondering when you take such a trade setup: - do you monitor your exit on the M1, M5 or M30 time frame? - And do you use a Level target or a counter momentum signal to exit? thanx
The price has the tendency to test the lows or highs ( where you seen the momentum arrow ) , so it is better to avoid the first signal. In this case, the price will be inbetween 50 ema and 200 ema, however, the 50 ema will be trading below 200 ema.

The second signal + candle combo is valid.

This time, in 1 min chart, the 50 ema will be trading above 200 ema.

This is valid trade to take.

exit ?

when 50 ema falls below 200 ema, in long trade.

Vice versa for short trade.

See the LONG trade in took in this asian session.
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Intraday only.
  • #671,289
  • Jul 24, 2022 6:19pm Jul 24, 2022 6:19pm
Quoting navk
{quote} The price has the tendency to test the lows or highs ( where you seen the momentum arrow ) , so it is better to avoid the first signal. In this case, the price will be inbetween 50 ema and 200 ema, however, the 50 ema will be trading below 200 ema. The second signal + candle combo is valid. This time, in 1 min chart, the 50 ema will be trading above 200 ema. This is valid trade to take. exit ? when 50 ema falles below 200 ema, in long trade. Vice versa for short trade. See the LONG trade in took in this asian session. {image}
Another way to look at exit for trade taken as per 1 min chart.

Shift the chart to 5 min.

Exit when the price hits 200 EMA.

See the example posted here.

In this case, 200 ema is 136.50.

I am setting 136.50 as TP.
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Intraday only.
  • #671,290
  • Edited Jul 25, 2022 1:03am Jul 24, 2022 6:30pm | Edited Jul 25, 2022 1:03am
EU
QM Long Setup
If the minor support (Blue line) is broken, which would probably not
the next support is at the Qm Level.
Reasons:
#1 Ignored Qm in the past
#2 RSF
However,, that level has been already visited twice, meaning PO might have already been filled.
It might be a TP zone, wait for PA for an entry confirmation
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More time in the market, does not mean you trade better!
  • #671,291
  • Edited 7:29pm Jul 24, 2022 7:17pm | Edited 7:29pm
Quoting navk
{quote} Another way to look at exit for trade taken as per 1 min chart. Shift the chart to 5 min. Exit when the price hits 200 EMA. See the example posted here. In this case, 200 ema is 136.50. I am setting 136.50 as TP. {image}
The price hit the set TP.

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Intraday only.
  • #671,292
  • Edited 8:29pm Jul 24, 2022 8:09pm | Edited 8:29pm
GU Buyers to be beware.

Currently is sell mode.

See the development of 15,30,60 min candle once momentum picked up after tokyo open.

May be in London session, buy may ( may ) develop.

Let us see.

Anyways, i go as per chart.
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Intraday only.
  • #671,293
  • Jul 24, 2022 8:25pm Jul 24, 2022 8:25pm
Somewhere close to 1930, I see support.

There one can see candle development and buy.
Intraday only.
  • #671,294
  • Jul 24, 2022 9:09pm Jul 24, 2022 9:09pm
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yes yes yes
  • #671,295
  • Jul 24, 2022 10:03pm Jul 24, 2022 10:03pm
i cannot trade this, so the only option left for me is to wait for more liquidity
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  • #671,296
  • Edited 10:59pm Jul 24, 2022 10:13pm | Edited 10:59pm
Quoting Moty
{image}
to me no Moti, the price further going down.

Resistance for now 2000.

As I said, price may drop close to 1930 area.

London may see buyers.
Intraday only.
  • #671,297
  • Jul 24, 2022 11:07pm Jul 24, 2022 11:07pm
Quoting navk
{quote} to me no Moti, the price further going down. Resistance for now 2000. As I said, price may drop close to 1930 area. London may see buyers.
Agree, im in buy, but UP seem have a hard time now in smaller TF, let wait a bit more
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  • #671,298
  • Jul 24, 2022 11:43pm Jul 24, 2022 11:43pm
Quoting GODofMC
{quote} Agree, im in buy, but UP seem have a hard time now in smaller TF, let wait a bit more {image}
yes, hourly chart and below making it lower.
Intraday only.
  • #671,299
  • Jul 25, 2022 12:32am Jul 25, 2022 12:32am
Quoting Whale
IMO scalping week. just try not to be in positions on the edges {image}
chart update from last Monday -
before-

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after


im waiting for development to short ( more downside, then correction and boom - sl above fridays high, probably wyckoff spring)
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  • #671,300
  • Jul 25, 2022 12:40am Jul 25, 2022 12:40am
1960 may support in line with my chart.

Let us see if London holds that support.
Intraday only.
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