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Cable Update (GBPUSD)

  • #679,881
  • Sep 1, 2022 2:22am Sep 1, 2022 2:22am
As I said EUR/AUD is my new favorite pair. Was shorting from 1.471 and took the profit now at 1.467. This will be all for this morning. Now, I'll let London destroy the market.
  • #679,882
  • Sep 1, 2022 2:25am Sep 1, 2022 2:25am
This is an interesting start to the session. There is no Buy entry for me just yet, I need to see more before I can spend my money. I can wait some more
I am neither brave nor stupid...I am just a part time trader
  • #679,883
  • Sep 1, 2022 2:29am Sep 1, 2022 2:29am
I wonder why people insist on trading EUR/USD and GBP/USD only. These are the hardest pairs to trade in my opinion. Compare EUR/USD and EUR/AUD for example. Most manipulated pairs are EUR/USD, GBP/USD and USD/JPY. Most manipulated currency is definitely Pound.
  • #679,884
  • Sep 1, 2022 2:30am Sep 1, 2022 2:30am
Let's see how far the price takes us today
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  • #679,885
  • Edited 3:07am Sep 1, 2022 2:34am | Edited 3:07am
breaks immediate limit and now testing next 1621 next immediate , if breaks and more bounce try next for 1649/56 + ! so watching 1621 or 1596 if top fail again !
first attempt survived 1596 , likely back 2nd !
perfect done 1696 , so can expect 1580 and 74 test next before some bounce!
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #679,886
  • Sep 1, 2022 2:38am Sep 1, 2022 2:38am
Quoting Waveskierrob
{quote} Closed 1.1586 +10 ...."it ain't what you do it's the way that you do it and that's what gets results dodododododo dada dodododododo dada"
Hi Waves
i had a question:
surely at some point in a trade that goes against your coin flip, you need to cut your losses.
What is your trigger for that?
Is it a nr of pips or a certain level?

thanx
in wondering about yourself, you forgot what you came here to be part of
  • #679,887
  • Sep 1, 2022 2:40am Sep 1, 2022 2:40am
My View: GU_30M for Today
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Intraday Trading is an Art _ hoda
  • #679,888
  • Sep 1, 2022 2:48am Sep 1, 2022 2:48am
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yes yes yes
  • #679,889
  • Sep 1, 2022 2:49am Sep 1, 2022 2:49am
Quoting Mitiblotch
{quote} There is. See the heavy bullish price RSI divergence on the 4hr. That's enough reason. If it works or not is a different thing all together!
I agree with you, in addition; I also see an SMT-divergence on EU.
GU is making LL while EU is doing the opposite!
Face 'ur fears & tame 'ur greed
  • #679,890
  • Sep 1, 2022 2:50am Sep 1, 2022 2:50am
Quoting Theoak
Long in at 1.1600 sl 1.1588 Target hit... Trail it!!
Stopped out, but looking to go long again!
Don't trade what you think. Just what you see!!!
  • #679,891
  • Sep 1, 2022 2:51am Sep 1, 2022 2:51am
I booked my profits in long. In this spike.

Now waiting.
Intraday only.
  • #679,892
  • Sep 1, 2022 2:55am Sep 1, 2022 2:55am
Quoting Matej.FX
I wonder why people insist on trading EUR/USD and GBP/USD only. These are the hardest pairs to trade in my opinion. Compare EUR/USD and EUR/AUD for example. Most manipulated pairs are EUR/USD, GBP/USD and USD/JPY. Most manipulated currency is definitely Pound.
If you really want to learn TA, the most manipulated pairs are the best take.
Endure the pain and learn, thank me later!
Face 'ur fears & tame 'ur greed
  • #679,893
  • Sep 1, 2022 3:03am Sep 1, 2022 3:03am
Good afternoon
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  • #679,894
  • Sep 1, 2022 3:07am Sep 1, 2022 3:07am
Quoting knkie
{quote} Hi Waves i had a question: surely at some point in a trade that goes against your coin flip, you need to cut your losses. What is your trigger for that? Is it a nr of pips or a certain level? thanx
Well the math is simple, but realization isn't. Let's say you flip a coin and your TP is 30 pips and SL 15 everytime. Being right even 40% of the time will make you money in the long run.
The real problem is we want to trade the whole day and are entering trades million times. Funny thing is, the price changes direction perhaps one or two times in a day and that's it. It's better to find some trade which you think should be most promising. Some traders here jump from GBP/USD to NZD/CAD for example if they see a promising trade. Wanting to be right is the main reason for the downfall. We are almost all perfectionists. We want to get in at the best price all the times and that is never going to happen. ATR is useful for trading. If you are looking at Hourly TF, look at the ATR, put the SL 2x ATR or whatever you think it's right. Close the pair so you don't look at it anymore and focus on the next pair. YOU CANNOT ENDURE PRESSURE THEY ARE PUTTING ON YOU CONSTANTLY. Few percent of the people are stone cold and that's it. We are not, so forget about it. Switching to lower TF then to even lower, well, you are going to fuck up 100% if this is what you are doing. I am also doing it and I also fuck up doing this. We have to catch ourselves and leave the trade alone. Also Reverso is right, if you fuck up 2 times go away and return tommorow. This is what neither of us actually follows. Perhaps taking a break for a week or two isn't a bad idea. It's not like you will miss anything great, some 1000 pip move or whatever. Also how.many times did you actually go long at the top? I did plenty of times. Why? Fear of missing out.. It's not being right so much as staying cool in forex.
  • #679,895
  • Sep 1, 2022 3:09am Sep 1, 2022 3:09am
Quoting JereMi256
{quote} If you really want to learn TA, the most manipulated pairs are the best take. Endure the pain and learn, thank me later!
I don't know. I see PA much better at EUR/AUD for example than on EUR/USD. I see where price will potentially return to (last HH) and that's it. The only reason why I closed the trade is because of the London. Just compare these two pairs how they moved yesterday and then tell me which was easier to understand.
  • #679,896
  • Sep 1, 2022 3:10am Sep 1, 2022 3:10am
Whatever I do before Frankfurt and or London open, it happened to be wrong these days.

Having said that, whatever I did after FF/LO open happened to be very good for me, especially in this pair.
Intraday only.
  • #679,897
  • Sep 1, 2022 3:12am Sep 1, 2022 3:12am
Quoting DailyChart
Good afternoon {image}
Good afternoon...
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Intraday Trading is an Art _ hoda
  • #679,898
  • Sep 1, 2022 3:15am Sep 1, 2022 3:15am
Quoting Matej.FX
{quote} Well the math is simple, but realization isn't. Let's say you flip a coin and your TP is 30 pips and SL 15 everytime. Being right even 40% of the time will make you money in the long run. The real problem is we want to trade the whole day and are entering trades million times. Funny thing is, the price changes direction perhaps one or two times in a day and that's it. It's better to find some trade which you think should be most promising. Some traders here jump from GBP/USD to NZD/CAD for example if they see a promising trade. Wanting to...
I get the math.
In your answer you speak of SL and TP and that is precisely NOT what Waves is doing.

So i do appreciate your chime in but id still like Waves answer since he is quite succesfull with this method.
in wondering about yourself, you forgot what you came here to be part of
  • #679,899
  • Sep 1, 2022 3:15am Sep 1, 2022 3:15am
Quoting knkie
{quote} I get the math. In your answer you speak of SL and TP and that is precisely NOT what Waves is doing. So i do appreciate your chime in but id still like Waves answer since he is quite succesfull with this method.
Sure! I also am interested.
  • #679,900
  • Sep 1, 2022 3:17am Sep 1, 2022 3:17am
Quoting navk
Whatever I do before Frankfurt and or London open, it happened to be wrong these days. Having said that, whatever I did after FF/LO open happened to be very good for me, especially in this pair.
London creates a lot of confusion and gets all the traders out of long and out of short positions. Then when NY open, they start for real.
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