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Cable Update (GBPUSD)

  • #677,201
  • Edited 1:55am Aug 20, 2022 1:42am | Edited 1:55am
Hi, a lot drama over the price drop
I truly believed the 1.1875 is the target of the bears according my daily analysis.

but I still think price is in a good condition to climb up even above 1.23 next month.

My daily chart is below
Attached Image (click to enlarge)
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  • #677,202
  • Edited 2:08am Aug 20, 2022 1:55am | Edited 2:08am
Quoting Coreg2004
{quote} navk, I don't have a problem with either ranging or trending markets. I watch closely other traders' opinions here in case I have too strong bias in one direction. My A$$ was saved more times than I can remember, and I am grateful for it. I try to reciprocate with my posts.
Let me tell you why I mentioned that way.

1. Your chart is clear with levels. ( Range )

And most importantly, others can look at the chart and take trading decision, that way it helps. Your chart does not give trading advice.
2) Charts showing just bias. This is ok. Traders can define the range on their own.

2. Showing Chart analysis without levels ( even range ). And changing bias frequently. This one is no use.

3) Charts showing trades with TP and stop loss in the charts. This also does not help others much . It will help others only copy trading. However if chart shows trades, a follow up post is important if stop or TP hits or exited the trades earlier or whatever..

4) Trading calls are fine which has most importantly stop level. Defining bias. This is ok too.

No. 1 is number one.
Intraday only.
  • #677,203
  • Aug 20, 2022 2:07am Aug 20, 2022 2:07am
Quoting Whale
Hi, a lot drama over the price drop I truly believed the 1.1875 is the target of the bears according my daily analysis. but I still think price is in a good condition to climb up even above 1.23 next month. My daily chart is below {image}

solution to the drama is patience

if ur chart says it’s bullish then it’s bullish.

it’s easy to manage ur trade following ur own analysis except if to compare.
MY OPINION NOT FINANCIAL ADVISE
  • #677,204
  • Aug 20, 2022 2:10am Aug 20, 2022 2:10am
Quoting donfriday
{quote} solution to the drama is patience if ur chart says it’s bullish then it’s bullish. it’s easy to manage ur trade following ur own analysis except if to compare.
Patience helps only if Risk is managed. I keep an eye on 5 %.

lol
Intraday only.
  • #677,205
  • Aug 20, 2022 2:18am Aug 20, 2022 2:18am
Quoting navk
{quote} Patience helps only if Risk is managed. I keep an eye on 5 %. lol

patience for who already know risk management is a win win in long run
MY OPINION NOT FINANCIAL ADVISE
  • #677,206
  • Aug 20, 2022 2:21am Aug 20, 2022 2:21am
Quoting donfriday
{quote} patience for who already know risk management is a win win in long run
If you do not see me in NY session the possible scenario :

1) 5 % Exhausted.

2) 2 to 5 % Profit made before NY open.
Intraday only.
  • #677,207
  • Aug 20, 2022 2:25am Aug 20, 2022 2:25am
Quoting Whale
Hi, a lot drama over the price drop I truly believed the 1.1875 is the target of the bears according my daily analysis. but I still think price is in a good condition to climb up even above 1.23 next month. My daily chart is below {image}
I'm seeing a possible drop to 1.1560 - 1660 area as early as Monday Tuesday next week... Before a return to 1.19 - 1.20 area. I will be closing all buy trades in negative, unfortunate that my mff evaluation will now be down to 5.3% from 7.7%...

I will load buy from 1.16 and 1.15 area next week, as this looks like the normal 200 pips lower lows on monthly since the beginning of the year...

April Low : 1.2411
May Low : 1.2155
June Low : 1.1933
July Low : 1.1760
August Low : ???? (1.1576)

A break of 1.1760 will clearly expose 1.1576... which will make August range become 717 pips, similar range as April...

For bulls to take control price needs to bounce off the low by at least 110 pips...

This means if price fails to attain 1.1912 area, bears will slam it down to 1.1667 - 1.1576 before any meaningful bounce may occur.

I may be wrong but this is what i see...
Data + Stat + Risk/Emotions Management
  • #677,208
  • Aug 20, 2022 2:43am Aug 20, 2022 2:43am
my mistakes made during the week, it was an easy trade and i messed up.
  • #677,209
  • Aug 20, 2022 3:06am Aug 20, 2022 3:06am
Quoting navk
{quote} If you do not see me in NY session the possible scenario : 1) 5 % Exhausted. 2) 2 to 5 % Profit made before NY open.

i don’t want to near that 5% bro it’s scary I mostly use 4%

next year I want to target 5% monthly from the 300k
I want to quit day trading and enjoy life more
MY OPINION NOT FINANCIAL ADVISE
  • #677,210
  • Aug 20, 2022 3:06am Aug 20, 2022 3:06am
Quoting PatienceFx
my mistakes made during the week, it was an easy trade and i messed up.
Form is temporary; class is permanent
Don't trade what you think. Just what you see!!!
  • #677,211
  • Aug 20, 2022 3:08am Aug 20, 2022 3:08am
Quoting Georginson
{quote} I'm seeing a possible drop to 1.1560 - 1660 area as early as Monday Tuesday next week... Before a return to 1.19 - 1.20 area. I will be closing all buy trades in negative, unfortunate that my mff evaluation will now be down to 5.3% from 7.7%... I will load buy from 1.16 and 1.15 area next week, as this looks like the normal 200 pips lower lows on monthly since the beginning of the year... April Low : 1.2411 May Low : 1.2155 June Low : 1.1933 July Low : 1.1760 August Low : ???? (1.1576) A break of 1.1760 will clearly expose 1.1576... which...
Yeah brother a lot of IFS

i dont really know the ranges theory, i believe you know what you’r saying.

in fact im counting waves/fractals
and HTF showing this is the end/close to it.
LTF showing correction (at least)

will see next week.. my SL below Friday low, no chance i will close it before.
  • #677,212
  • Aug 20, 2022 3:20am Aug 20, 2022 3:20am
wappy heekend
IgorFX
  • #677,213
  • Aug 20, 2022 3:35am Aug 20, 2022 3:35am
Quoting Whale
Hi, a lot drama over the price drop I truly believed the 1.1875 is the target of the bears according my daily analysis. but I still think price is in a good condition to climb up even above 1.23 next month. My daily chart is below {image}
With two digits inflation, price could could rise to 1.23. But a above? Well, Government Debt Compare to GDP is over 85% despite Govermerment surplus deposit has decreased. Not yet even talk about Central Bank Balance Sheets rise nearly 50% Which require CB Need to sell this kind of asset first in order to pull inflation back down so GBPUSD price can move higher. So above 1.23 is in doubt. I think inflation can rise up to 12.5% to 13% before CB can pull it back down. Remember CB need at least inflation down to 2%. Before that happen, I'm not interesting in long term buying and expect price to move above 1.23 or even 1.25.
With courage, patience, and discipline, success is a matter of time.
  • #677,214
  • Aug 20, 2022 6:46am Aug 20, 2022 6:46am
* No predictions, guesswork, thinking, or feeling, about what will happen next- just probabilities - Based on a representative historical sample, there is a 60% chance of last week's bear thrust candle seeing a with trend follow thru (at some point) of at least the size of that candle, over however long, to a new lo. So it is the greater probability, but not by much. There is still a 40% chance that it won't, before a stop at the top of it would be triggered.
* I'm not gonna bore the thread with all my stats, but if you look at the last 2 x 4Hr (gmt+3) candles before the close, there is a very good chance of (at least) a deeper upside pullback.
* Nothing is certain, just probabilities, anything can happen, on any given individual occasion, whether or not it is the greater probability.

1Hr below
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Trader with an Edge.
  • #677,215
  • Aug 20, 2022 6:56am Aug 20, 2022 6:56am
low can get lower.
many expected a bounce on Friday. (however it is too weak)
  • #677,216
  • Aug 20, 2022 7:11am Aug 20, 2022 7:11am
Quoting navk
{quote} nice chart
thanks navk, keep healthy friend

Quoting RaHaG0D
{quote} I agree with your view. Of course, maybe the price will come up to 1.1900, as you said, the price fluctuates up to 100p Or ranging. 1.175 is certain for next week. Of course, this is my view of the chart {image}
your scenarios makes sense, nice one!
https://breakpullback.com
  • #677,217
  • Aug 20, 2022 7:42am Aug 20, 2022 7:42am
Trend: downtrend
LH at 1.2250
LL at 1.1824

My plan for Monday.

If the price falls below LL and returns to LL I will trigger Buy order with 50 pips SL and 50 pips TP. Will post a trade once it is executed. See you on Monday!
  • #677,218
  • Aug 20, 2022 8:22am Aug 20, 2022 8:22am
Quoting Georginson
{quote} I'm seeing a possible drop to 1.1560 - 1660 area as early as Monday Tuesday next week... Before a return to 1.19 - 1.20 area. I will be closing all buy trades in negative, unfortunate that my mff evaluation will now be down to 5.3% from 7.7%... I will load buy from 1.16 and 1.15 area next week, as this looks like the normal 200 pips lower lows on monthly since the beginning of the year... April Low : 1.2411 May Low : 1.2155 June Low : 1.1933 July Low : 1.1760 August Low : ???? (1.1576) A break of 1.1760 will clearly expose 1.1576... which...

I doubt think we gonna go this low
USD is definitely charged, but Euro is very close to parity, this should help GU find some resistance to fall..I find myself in DD 50%, which is crazy
I think GU is at an extreme to cut a loss here, and seeing it rise would cause more damage that blowing the account for me..

what to say
  • #677,219
  • Aug 20, 2022 8:47am Aug 20, 2022 8:47am
1760 ..there is another level no doubt.

But... keep watching 1792... if it breaks. then 1760.

If no break.. 100 pips up as retrace.
Intraday only.
  • #677,220
  • Edited 10:39am Aug 20, 2022 9:55am | Edited 10:39am
Quoting navk
{quote} Let me tell you why I mentioned that way. 1. Your chart is clear with levels. ( Range ) And most importantly, others can look at the chart and take trading decision, that way it helps. Your chart does not give trading advice. 2) Charts showing just bias. This is ok. Traders can define the range on their own. 2. Showing Chart analysis without levels ( even range ). And changing bias frequently. This one is no use. 3) Charts showing trades with TP and stop loss in the charts. This also does not help others much . It will help others...
navk, you definitely missed my numerous post where I stated my reason for being here. Allow me to repeat myself for the sake of clarity the last time.

I'm not here to provide trading signals, I'm here to interact with people who trade using TA.
Yes, I'm surprised that you complain about my style of posting because some time ago you told us that you didn't have a losing trade in two years (why would you want a trading signal?). Besides, you have your guru guy Greg from forexville who provides you with the information you need to enter the trade, set the SL, and on. Why do you need me? Just ignore my posts bc there is nothing for you.
My belief is that to be successful in the trading business you need to stand on your own, but that is just me. If you want to jump from website to website looking for a piece of advice feel free to do so. Live the way you love and allow others to do so. You also missed my trading philosophy which I posted in my profile. Here it is again:
A successful man must have a plan and rules and follow them. -W.D. Gann
Also, don't forget about my message under my post: Always trade your own plan.

2. Showing Chart analysis without levels ( even range ). And changing bias frequently. This one is no use.
To understand my charts better I give you a hint...green box is the support zone, the red box is the resistance box, yellow target zone for the day. Do you know what happens when support/resistance breaks? Ask Greg, if you don't know the answer. Description of my trading method anyone can find in my profile under the tab: files
I have no idea why do you lie about my posting, but if you wanted to bring me one notch down, you definitely misread my character. Here are some examples to set the record straight.

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and the result...
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Good luck with your trading bc you need as much as you can get, or just start to learn TA.
Always trade your own plan...I don't provide trading signals.
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