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Cable Update (GBPUSD)

  • #676,961
  • Aug 19, 2022 6:03am Aug 19, 2022 6:03am
Short gold at 1752
  • #676,962
  • Aug 19, 2022 6:03am Aug 19, 2022 6:03am
Quoting Reverso
{quote} I tried a few iq tests and i noticed a pattern is that, the iq test is testing your ability to recognise pattern and give the correct answer. In trading, we rely on patterns too, so i think iq test is somewhat related to trading, the higher your iq, maybe you're able to recognise repetitive patterns that are seldom spotted by others that you can exploit for yourself? Just thinking out loud.
Yeh, these online tests have a lot of that, and to that extent you make a good point. Recognising repeating patterns (and knowing whether they are worth trading in the particular overall PA and market conditions they present themselves in on any given occasion,) are an important part of trading However, if you take the Mensa test (a society for people with IQ's 140 and greater) there are a lot of other things tested as well.

-----------------------------------

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  • #676,963
  • Aug 19, 2022 6:05am Aug 19, 2022 6:05am
Quoting thatRichDude
{quote} IMO, I want to see 1.17602 wiped before a bullish market may be suggested. LOL Again, my opinion, not financial advice. Kind regards, RD
I have longs at 1.1818 1.1775 1.1714 £1 per pip for each trade, they may go down but theres always a bounce.
  • #676,964
  • Aug 19, 2022 6:07am Aug 19, 2022 6:07am
Quoting Mitiblotch
Many bulls have their teeth on edge now around the world. Hehe {image}
On which site did u get this data ?
do u mind sharing the name of the site.
thank you in advance
  • #676,965
  • Aug 19, 2022 6:08am Aug 19, 2022 6:08am
Quoting Reverso
{quote} The ongoing perfect trade is doing well, retest the lower end of long term pivot then continued downwards, further enhancing the confidence. {image}
TP gracefully hit, that's it for this week.
Finally broke my losing streak, ending the week with TP, like phoenix risen from ashes.
With the pain endured throughout Tues, Wed, Thurs, I think I grown up a bit in trading, moving forward I hope I will make less mistakes and keep my performance stable.
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  • #676,966
  • Aug 19, 2022 6:09am Aug 19, 2022 6:09am
Look at the volume in both the events which changed the trend. June 16th heavy buying in June which started the bull phase. 11th August heavy sell volume which started bear phase. So logically wait for the green candle with heavy volume to go long again.
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  • #676,967
  • Aug 19, 2022 6:11am Aug 19, 2022 6:11am
Quoting greenpips4
{quote} On which site did u get this data ? do u mind sharing the name of the site. thank you in advance
https://fxssi.com/tools/current-ratio
  • #676,968
  • Aug 19, 2022 6:11am Aug 19, 2022 6:11am
Quoting Theoak
All markets are on extremes. Very hard to make calls now. Like enter a black hole when normal realities don't work anymore. I don't think the data was that bad! I kind of think it can't go any lower, but I think you'd be mad to make any calls now. Any ideas? Everything is pointing down!!
I guess one good thing about just following rule based system is that I remove a lot of subjective thinking, market extremes or whatever that's happening, to be honest I did not know about it, people might be thinking I was mad going short today after quite a big down move before this, I just follow the signal regardless and came out fine =)
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  • #676,969
  • Aug 19, 2022 6:11am Aug 19, 2022 6:11am
There is nothing to trade long now yet.

However there is an opportunity to buy in the next 4hr candle.
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Intraday only.
  • #676,970
  • Aug 19, 2022 6:11am Aug 19, 2022 6:11am
Quoting anandy1
Look at the volume in both the events which changed the trend. June 16th heavy buying in June which started the bull phase. 11th August heavy sell volume which started bear phase. So logically wait for the green candle with heavy volume to go long again. {image}
From where you have data about volume? Only your broker? Or all brokers?
People don't plan to lose. They lose because they don't plan.
  • #676,971
  • Aug 19, 2022 6:11am Aug 19, 2022 6:11am
Quoting thatRichDude
{quote} Do you mind driving home your point? Kind regards, RD
well there is just not one certain conclusion as your question suggest to me. It's more like, in the process of finding an opinion about your trading decisions how much do you want to weight these "sentiments" into? If the retail traders only represent 2% of the money flow, how much does this actually help you out? It's not a rhetorical question, i'm keen to find out your view on this.
  • #676,972
  • Aug 19, 2022 6:13am Aug 19, 2022 6:13am
Quoting Pat Chiko
{quote} GU Maybe she want to go for QM ?. Keeping scalping open till QM or NY Open. {image}
GU

Common GU... One Spike to QM....
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I come from the future.
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  • #676,973
  • Aug 19, 2022 6:14am Aug 19, 2022 6:14am
Bears are in crazy mood today and TBH I don't see it waning. I am doing many little things here. Selling as hedge and just banked at 1832. Just want to reduce loss before SL hits for my original buy. This is what we call FRYday.

Most times when price gives those beautiful sell entries it will range and move a little. Days like today it is just straight down! Scala, I hope you are surviving this dump?
  • #676,974
  • Aug 19, 2022 6:15am Aug 19, 2022 6:15am
Quoting Reverso
{quote} I tried a few iq tests and i noticed a pattern is that, the iq test is testing your ability to recognise pattern and give the correct answer. In trading, we rely on patterns too, so i think iq test is somewhat related to trading, the higher your iq, maybe you're able to recognise repetitive patterns that are seldom spotted by others that you can exploit for yourself? Just thinking out loud.

Rightly said!!!

Kind regards,

RD
  • #676,975
  • Aug 19, 2022 6:17am Aug 19, 2022 6:17am
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  • #676,976
  • Aug 19, 2022 6:17am Aug 19, 2022 6:17am
DxY already close the gap, but no sign of stopping
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  • #676,977
  • Aug 19, 2022 6:17am Aug 19, 2022 6:17am
Quoting Mitiblotch
Bears are in crazy mood today and TBH I don't see it waning. I am doing many little things here. Selling as hedge and just banked at 1832. Just want to reduce loss before SL hits for my original buy. This is what we call FRYday. Most times when price gives those beautiful sell entries it will range and move a little. Day's like today it is just straight down! Scala, I hope you are surviving this dump?
No worry, drawdown is my second name, lot of margin, added so at 1840 one more I have pending 1820, thats all, I want 2000 next week, lets see I think I can survive till 1,14
People don't plan to lose. They lose because they don't plan.
  • #676,978
  • Aug 19, 2022 6:19am Aug 19, 2022 6:19am
Quoting JameRomeo168
Trailing Stop Activated. Breakeven or Take Profit, it is up to the market. I have done my best on my side, lets the market decide the rest. {image}
TP Hit
With courage, patience, and discipline, success is a matter of time.
  • #676,979
  • Aug 19, 2022 6:19am Aug 19, 2022 6:19am
IQ or work. IQ helps us to grasp things quicker, however those with high IQs tend to give up quickly
  • #676,980
  • Aug 19, 2022 6:21am Aug 19, 2022 6:21am
This month Aug from height of 17.58% dropped to 7.98%, it is shameful to look at.
I still have 8 trading days this month to redeem myself to a more acceptable return rate.
With that said, I am glad I am still positive.
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