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Cable Update (GBPUSD)

  • #675,461
  • Aug 12, 2022 2:21pm Aug 12, 2022 2:21pm
Trend for Sunday/part Monday is down
  • #675,462
  • Aug 12, 2022 2:56pm Aug 12, 2022 2:56pm
Quoting Moty
All out !!! Started the with a nice 107 $ profit And finished it with a.small loss after being in 200 $ Floating loss for the all day ( was on 310 $ in the running positions {image}
0.20 on a small account ...


work on ur risk management
MY OPINION NOT FINANCIAL ADVISE
  • #675,463
  • Aug 12, 2022 3:28pm Aug 12, 2022 3:28pm
Quoting Moty
Close short 10 $ profit End day with -6 $ loss I hope next time I will follow my indicators and not not just put them in the chart
i have said to you that Be patient on Wednesday when GBPUSD was 2270 and you have sold @2260
I do not understand your movements
These pressures and stresses eventually have diabetes for you ...after years
take care
Hussin
  • #675,464
  • Edited 3:56pm Aug 12, 2022 3:40pm | Edited 3:56pm
Friday saw a 118pip range, (90% of 30day adr which is currently 132.) The week sees a 229pip range - 83% of the current 13week awr. Most of this week ranged (Mon, Tues, Thurs,) with Weds seeing the U.s Cpi move up, and today, (Friday,) the Uk Gdp inspired move down.

Fundamentally, what we know now that we didn't last Friday is that U.s inflation may have topped out (for now,?) and that Uk may be nearer a recession than previously thought. Oh yeh, and that Trump may be going to jail lol!

Technically;

* Wkly This t/f has now, with the close off this week's candle, printed it's 9th consecutive LH now (@ 2293) in it's downtrend from the trend hi of 4249 - last year's hi. The wkly candle closes as a bullish-bodied hammer and you could be forgiven for seeing a tweezer top on this t/f at that prev sw hi that extends to 2333, what with this week and last week's candles. A new steepest desc t/line is now joining 3644 with 2293 and caps what is effectively a falling wedge again on this t/f . The wkly candle is inside the previous week's.
* Dly This t/f's last few fractal prints have been, starting @ 2293, HH,HL,LH so the t/f can either be said to be struggling to establish it's general uptrend, or ranging. Both Thurs and Friday's dly candles are inside the Weds U.s Cpi react dly candle. Friday's candle on this t/f closes bearishly.
* 4Hr This t/f closes the week as rangy overall but the move down on Friday may be the beginning of a downtrend with 2 LH's and a LL now. I can't find much more to say about this t/f.
* 1Hr This t/f closes the week in a general downtrend. The current downtrend lo is @/around Friday's Dly S3 / 76.4% of the recent 2063-2276 swing up, these in a prev minor 1hr sw hi zone = prev res = pot rbs/a prev 30min sw lo zone = prev supp = pot supp. This current downtrend lo has become a prev 1hr/minor 4hr sw lo zone in itself now, = prev supp = pot supp.

All in all - a real mixed bag across the 1Hr+ t/f's.

NB: chart conditions per 3 candle fractal swing analysis.

Wkly, Dly, 4Hr, then 1Hr below
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Trader with an Edge.
  • #675,465
  • Aug 12, 2022 6:35pm Aug 12, 2022 6:35pm
i have a stupite habit to see the price go against mu position ,
and i immediately take profit , WHICE IS GOOD ,
BUT Instead of waiting for a good set up in the direction of the trend , i take the opposite .
and without stop loss and like today i turn a 107 $ profit to a daily floating loss of 200 $
usually i get wipe out with my account , luckily today it doesn't happend
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yes yes yes
  • #675,466
  • Aug 12, 2022 7:03pm Aug 12, 2022 7:03pm
Quoting Moty
i have a stupite habit to see the price go against mu position , and i immediately take profit , WHICE IS GOOD , BUT Instead of waiting for a good set up in the direction of the trend , i take the opposite . and without stop loss and like today i turn a 107 $ profit to a daily floating loss of 200 $ usually i get wipe out with my account , luckily today it doesn't happend {image}
My advice dont use bb stop indicator at small time frame..use it minimum m30 ..its will work to catch trends
  • #675,467
  • Aug 12, 2022 7:03pm Aug 12, 2022 7:03pm
Quoting Moty
i have a stupite habit to see the price go against mu position , and i immediately take profit , WHICE IS GOOD , BUT Instead of waiting for a good set up in the direction of the trend , i take the opposite . and without stop loss and like today i turn a 107 $ profit to a daily floating loss of 200 $ usually i get wipe out with my account , luckily today it doesn't happend {image}
What I see, time frame is too small, position size is too big

Please adjust both to suit the price action and trade accordingly

Good Luck
It takes a lot for me to IGNORE you, but you can try.
  • #675,468
  • Aug 12, 2022 7:50pm Aug 12, 2022 7:50pm
Quoting Moty
i have a stupite habit to see the price go against mu position , and i immediately take profit , WHICE IS GOOD , BUT Instead of waiting for a good set up in the direction of the trend , i take the opposite . and without stop loss and like today i turn a 107 $ profit to a daily floating loss of 200 $ usually i get wipe out with my account , luckily today it doesn't happend {image}
I know what you mean. I get impatient and want to try to make something happen and it always seems to be a problem for me. I am learning to wait for the setup to come to me

Keep plugging away.
Tall tails tell tales.
  • #675,469
  • Aug 12, 2022 9:04pm Aug 12, 2022 9:04pm
Quoting Inthebox
{image}
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ITB - Seeing Orderliness amongst 'Randomness'
  • #675,470
  • Aug 12, 2022 11:51pm Aug 12, 2022 11:51pm
Quoting Jolita
{quote} At last someone is having fun trading 28 pairs €0.10/trade. Some are winning positions. With this capital invest in major stock, better returns.

This is actually no joke. Let's say you were shorting Euro against everything yesterday, well, you would have made 550 pips. If you did the same for Pound also that would have been another 550 pips in profit. That means if you were shorting both of these currencies against every other of 8 majors, you would have made over 1000 pips in one day! But how do we get to that that we short both of these? Well, I already identifiyed trends and established which currencies are currently the weakest and which are the strongest.

I read somewhere that this is what banks do. They identify weak currencies and just sell them, strong currencies they buy and this goes on and on, until the trend changes. This is that new period when we again have to identify which currencies are weak and strong. As of this moment Euro and Pound are definitely the weakest currencies, now even against Yen (which was considered THE weakest currency of 2022) they started to depreciate. We can see some shift in Yen. Strongest by far and wide, unbelievably strong, is CHF. But has CHF reached it's limits? We may very well be in time when trends are starting to change.

Well, that's all I wanted to say, perhaps someone will find this as interesting as I do.
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  • #675,471
  • Aug 13, 2022 12:19am Aug 13, 2022 12:19am
Quoting TheWolf
{quote} This is actually no joke. Let's say you were shorting Euro against everything yesterday, well, you would have made 550 pips. If you did the same for Pound also that would have been another 550 pips in profit. That means if you were shorting both of these currencies against every other of 8 majors, you would have made over 1000 pips in one day! But how do we get to that that we short both of these? Well, I already identifiyed trends and established which currencies are currently the weakest and which are the strongest. I read somewhere that...
Looking forward to seeing you post your result next week using this currency strength method, sounds promising!
https://www.myfxbook.com/members/NGplus/freedom-you-deserve/11268620
Freedom you deserve. All Time Return: 56.0%
  • #675,472
  • Aug 13, 2022 12:23am Aug 13, 2022 12:23am
After London opens on next Monday, the daily pivot will be 1.21403 - 1.21572 .
Currently price stayed below the pivot mentioned above, if this goes on towards next London open, bias will be Short, otherwise Long.

Not much resistance upside, but there are 2 strong support towards downside, overall trend still up as per my system rule.
I would bet the Long scenario will materialize by then. Happy weekend~
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https://www.myfxbook.com/members/NGplus/freedom-you-deserve/11268620
Freedom you deserve. All Time Return: 56.0%
  • #675,473
  • Aug 13, 2022 12:38am Aug 13, 2022 12:38am
Quoting Reverso
After London opens on next Monday, the daily pivot will be 1.21403 - 1.21572 . Currently price stayed below the pivot mentioned above, if this goes on towards next London open, bias will be Short, otherwise Long. Not much resistance upside, but there are 2 strong support towards downside, overall trend still up as per my system rule. I would bet the Long scenario will materialize by then. Happy weekend~ {image}
Impeccable logic ! Either up or down
But I will reveal a great secret, there is a third option. This movement is sideways (flat)
Desire is a set of possibilities And reluctance - a lot of reasons ....
  • #675,474
  • Aug 13, 2022 12:41am Aug 13, 2022 12:41am
Quoting lipopos
{quote} Impeccable logic ! Either up or down
Well, you can't be wrong with statements like that!

My take is that we're in a downtrend and about to kick off a new range.
More than that I can't say because they haven't established a range yet, but Monday is usually a good day for it.
I also suspect that Friday's low is not safe come Monday
  • #675,475
  • Aug 13, 2022 2:33am Aug 13, 2022 2:33am
Quoting lipopos
{quote} Impeccable logic ! Either up or down But I will reveal a great secret, there is a third option. This movement is sideways (flat)
Yup, sorry to disappoint you, i do not predict directions.
I trade when my system tells me the market has aligned itself with my system to form a valid entry, even after entry I only can hope it goes my direction, i can't know for sure where it will go. =)

If you want to know the direction with certainty, you may consult Bogdanoff, he has IQ over 200.
https://www.myfxbook.com/members/NGplus/freedom-you-deserve/11268620
Freedom you deserve. All Time Return: 56.0%
  • #675,476
  • Aug 13, 2022 3:38am Aug 13, 2022 3:38am
Most important support 1.204
Resistance 1.215

Wednesday could be crucial Fed and CPI.
I say with 97% of confidence that if Daily closes above 1.215, perhaps at 1.22, up-trend has started.

If Daily closes below 1.204, downtrend should continue.

However, after a long time I started getting trend reversal signals.
For the trend to be officially up-trend Daily has to close above 1.25 respectively.
  • #675,477
  • Aug 13, 2022 3:44am Aug 13, 2022 3:44am
checking one of my old long term chart to see pa . immediate term bearish , intermediate bullish and long more bearish ! and as usual nothing in straight line ! take care
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #675,478
  • Aug 13, 2022 3:58am Aug 13, 2022 3:58am
“Leo loves the full moon because Leo is all about passion and creativity and enthusiasm,” Dr. Perrakis says.

Full Moon give me boost in energy and makes me wide awake.

How does the Full Moon affect you?
  • #675,479
  • Aug 13, 2022 5:45am Aug 13, 2022 5:45am
Out of interest thewolf how do you determine various currency trends. What process do you use?
  • #675,480
  • Aug 13, 2022 8:59am Aug 13, 2022 8:59am
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