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Cable Update (GBPUSD)

  • #672,501
  • Jul 30, 2022 8:09am Jul 30, 2022 8:09am
If one does not have a plan then one is lost in the woods. A trader with a plan is ahead of the heard.
  • #672,502
  • Jul 30, 2022 8:09am Jul 30, 2022 8:09am
Quoting chess king
The hard thing in forex is having the ability to make a plan in advance and having the psychology to trade it all the way through. (it's my opinion)
100% U have to understand it is about learning how u deal with life, ultimately it will show up in your trading. Take a chance a be strong enough to hold your conviction. IMHO it is all about how we embrace fear and success

are we positive or negative mostly..if positive u will expect positive outcomes, if negative, then we manifest negative results..The trick i believe is to understand we are fighting with our inner selves

Lets get fortunate and be blessed
  • #672,503
  • Jul 30, 2022 8:29am Jul 30, 2022 8:29am
Quoting tiborf71
gbp/jpy. the odds say this pair could be good for a long position. h1.
the fact is that JPY is very strong right now.
but this will not always be the case.
h1.
  • #672,504
  • Jul 30, 2022 8:31am Jul 30, 2022 8:31am
Cables path on Monday should be upwards, then retrace and then continue up.
  • #672,505
  • Jul 30, 2022 8:39am Jul 30, 2022 8:39am
Quoting Houtbay
Cables path on Monday should be upwards, then retrace and then continue up.
Mate.
Why is that?
because I see no reason for it.
  • #672,506
  • Jul 30, 2022 8:47am Jul 30, 2022 8:47am
What is your view or levels Tibor out of interest?
  • #672,507
  • Jul 30, 2022 8:48am Jul 30, 2022 8:48am
Quoting nAVIN2007
{quote} 100% U have to understand it is about learning how u deal with life, ultimately it will show up in your trading. Take a chance a be strong enough to hold your conviction. IMHO it is all about how we embrace fear and success are we positive or negative mostly..if positive u will expect positive outcomes, if negative, then we manifest negative results..The trick i believe is to understand we are fighting with our inner selves Lets get fortunate and be blessed
Mate, if you accept unsolicited advice, I can only say that you shouldn't be so concerned with spiritual things.
just think of it as a complicated puzzle to be solved.
  • #672,508
  • Jul 30, 2022 8:57am Jul 30, 2022 8:57am
Quoting Houtbay
What is your view or levels Tibor out of interest?
gbp/usd.
for me, there is no possibility, nor is it forced
-------------------------------------------------- -------------------------------------------------- ------
however, I see opportunities in these pairs.
gbp/jpy-long
usd/jpy-long
aud/jpy-long
eur/jpy-long

this is my position.
  • #672,509
  • Jul 30, 2022 8:59am Jul 30, 2022 8:59am
GBP/USD: M30 chart TF using Heiken Ashi H1 MTF candles
Attached Image (click to enlarge)
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Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
  • #672,510
  • Jul 30, 2022 9:46am Jul 30, 2022 9:46am
Quoting tiborf71
{quote} Mate, if you accept unsolicited advice, I can only say that you shouldn't be so concerned with spiritual things. just think of it as a complicated puzzle to be solved.
I do not understand
  • #672,511
  • Jul 30, 2022 10:01am Jul 30, 2022 10:01am
no doubt things complicated , wave down likely ended , h4 hs inverted broken , pullback and likely continue to the target next but may not all in direct and simple ways , still may chances enough bottoming effects to bull and bear too. multi week correction 3rd candle may more range to confirm by 4th ! take care
Attached Image (click to enlarge)
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #672,512
  • Jul 30, 2022 10:01am Jul 30, 2022 10:01am
Now gu sell.

Tp = 1.19966.
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  • #672,513
  • Jul 30, 2022 10:27am Jul 30, 2022 10:27am
@fontu:

DXY > = 107.364.

See my pic plz.
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  • #672,514
  • Jul 30, 2022 10:32am Jul 30, 2022 10:32am
Quoting tiborf71
{quote} I have been trading usd/jpy this week and yes the pair went up until wednesday then a bigger drop this week I waited for the shopping zone I now have a long usd/jpy position. so far everything is fine. H1. I HOPE I WAS CLEAR.?
No Sir,
I AM NOT CLEAR. but what I do know is that UJ is in a downward trajectory. I do not discount a retrace towards my weekly pivot at 134.365 either. So if you are a scalper you may coin some dollars, but do not get on the wrong side of direction.
Cheers.
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Trade to trade another day
  • #672,515
  • Jul 30, 2022 10:44am Jul 30, 2022 10:44am
Quoting Wavegarrick
{quote} No Sir, I AM NOT CLEAR. but what I do know is that UJ is in a downward trajectory. I do not discount a retrace towards my weekly pivot at 134.365 either. So if you are a scalper you may coin some dollars, but do not get on the wrong side of direction. Cheers. {image}
now the JPY is strong, but this will not always be the case.
the USD can strengthen at any time.
now my eyes are on the JPY.

H1.
  • #672,516
  • Jul 30, 2022 1:00pm Jul 30, 2022 1:00pm
Quoting nAVIN2007
{quote} 100% U have to understand it is about learning how u deal with life, ultimately it will show up in your trading. Take a chance a be strong enough to hold your conviction. IMHO it is all about how we embrace fear and success are we positive or negative mostly..if positive u will expect positive outcomes, if negative, then we manifest negative results..The trick i believe is to understand we are fighting with our inner selves Lets get fortunate and be blessed

nice post very soft and eloquent
MY OPINION NOT FINANCIAL ADVISE
  • #672,517
  • Jul 30, 2022 1:49pm Jul 30, 2022 1:49pm
GBUPSD broke the weekly Trendline, and is now leaning against the monthly Trendline.
You think he'll go down to SR level, and then we'll see what he does.
Will the bulls or the bears win?

Attached Image (click to enlarge)
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  • #672,518
  • Jul 30, 2022 4:10pm Jul 30, 2022 4:10pm
good so you all setup ur weekly directions. nice
  • #672,519
  • Jul 30, 2022 7:26pm Jul 30, 2022 7:26pm
Quoting Reverso
{quote} May I know why did you open the same position multiple times? My best guess is that, multiple 1.95 lots actually equals to your acceptable risk per trading session (for example I am willing to risk 1.00 lot per trade, so I split them into five 0.20 lots for different targets), you intentionally split it into a few because you want to TP each of them differently, some exit earlier while some hold on for longer to ride bigger waves?

Hi Reverso.

Multiple Entry is all about slippages.

How aggressively we want the trade done.
You can usually get a big order done in one go if you are willing to bear large slippage, or you can work it more gently in bits until you get there at very probably a better average price.

At the top of the book most brokers have only 1-2 mil (10-20 lots).
So if you trade above 10 lots you'll almost certainly be slipped at least 0.2 pips.
The first 10 levels of book depth have around 25 mil (on GBP/USD), so you can fill 25 lots with 2-2.5 pips of slippage if you send a market order.

I regularly trade 20 lot positions, and I fill them in multiple clicks, 2 or 4 lots at a time, with around nano sec between clicks. (by using Private ALGO) which also use slippage protection (it's called Maximum Deviation in MT4).

Sometimes I don't trade through MT4, I have my custom front-end connected through FIX to the broker.

Most of the times brokers that don't widen srpeads are simply bucket shops.
That's just the way it is.
In fact fixed speads are a complete farce since we often get such bad slippage that a 5 pip spread slippages.

Broker will not let you scalp on large trade sizes without slipping your unprofitably.
They will delay execution, they will wider the spread

Only thing you have to watch is slippage. price accepted at should be at or very close to what was offered at the specific time that you sent the order through.
The exceptions of course would be related news announcements or world events.

But if prices are coming direct from the market itself (banks) and the orders are GOING directly to the market (banks), then it should be filled relatively quickly at the current market price.

The only alternatives is to trade moderate size on multiple accounts with a few separate brokers. (which is messy).
So we are a bit more at the mercy of the market in a big position compared to a small one.
Retail traders are spared these problems for the most part, at least one advantage they have over the big boys!

Best Regards

PAT
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #672,520
  • Jul 30, 2022 7:52pm Jul 30, 2022 7:52pm
The Bank of England stealing South American gold?........
To be fair, it does have something of a reputation in that area.
Attached Image (click to enlarge)
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Why do they pretend to be a court?
Why London court and not international court?
expect a fair and just hearing?

The mask is coming off, they’re just grabbing what they can now before everyone withdraws. (Afghanistan/Russia/Venezuela Gold)
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
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