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Cable Update (GBPUSD)

  • #687,101
  • Sep 23, 2022 5:01am Sep 23, 2022 5:01am
time to book all
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  • #687,102
  • Sep 23, 2022 5:04am Sep 23, 2022 5:04am
Clearly a falling knife dont try catch it.....Us still to join....NO rockets here.....
average dude treading water
  • #687,103
  • Sep 23, 2022 5:04am Sep 23, 2022 5:04am
Anybody who follows what I put up . Remember a few years ago me saying my friend in jersey works in a currency dealer .. he said the pound would go to 1.1 and here we are
  • #687,104
  • Sep 23, 2022 5:05am Sep 23, 2022 5:05am
So i was late to the party today as working and using phone which I don't usually do. The pepperstone ctrader app is very awkward to set TP and SL.

Anyway I noticed we are in unknown territory, and that that bull spike heavily respected the 50 fib.

My theory is that as we are in New territory people will resort to simplified trading techniques such as fib retracement. Likely the lower fibs so FOMO.

I targeted a round number and just above with the idea some people would have FOMO orders pending just above. Then people on the downmove would jump out when they see resistence because its so unknown.

I am trying to use smaller positions and not get multiple moves as greed seems to be an issue. Then emotionally binding myself to a position that may aswell close and reopen at a better price.
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The markets are neutral to us. Our emotions are the enemy.
  • #687,105
  • Sep 23, 2022 5:07am Sep 23, 2022 5:07am
Quoting Headland
...quick further spike down to 1107...no pre-identified pot supp/rbs here but with price . 76.4% downside ext of y/day's lo-hi and @ 164% 30day adr it almost didn't matter...extr osc reads 1min, 3min, 30min, 1hr @ that lo - 1hr and that phenomenon again on 3min and 5min (In fact 2 x 3 min reversal candles outside 20 bol) for a nice scalp. 5min eg below {image}
Nice, I have hard time grasping entries with BB but it seems you done it easily.
I know overshooting BB strongly will have it's pullbacks
Exhausted
  • #687,106
  • Sep 23, 2022 5:08am Sep 23, 2022 5:08am
Quoting PatienceFx
time to book all {image}
+183.90 pips today, it was fun
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  • #687,107
  • Sep 23, 2022 5:08am Sep 23, 2022 5:08am
Quoting elbert3
Anybody who follows what I put up . Remember a few years ago me saying my friend in jersey works in a currency dealer .. he said the pound would go to 1.1 and here we are
Crazy week for GU, might go lower sheeeesh
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No pen no gen
  • #687,108
  • Sep 23, 2022 5:09am Sep 23, 2022 5:09am
Quoting Pat Chiko
{quote} Thanks Wizard...... Copy trade. {image}
GU

Stopped out
Re-enter
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #687,109
  • Sep 23, 2022 5:11am Sep 23, 2022 5:11am
Quoting PatienceFx
{quote} +183.90 pips today, it was fun {image}
Well done!!
I am neither brave nor stupid...I am just a part time trader
  • #687,110
  • Sep 23, 2022 5:12am Sep 23, 2022 5:12am
Dx has made its high for today,111.900 is adr high
yes yes yes
  • #687,111
  • Sep 23, 2022 5:14am Sep 23, 2022 5:14am
Quoting Elysion
{quote} Nice, I have hard time grasping entries with BB but it seems you done it easily. I know overshooting BB strongly will have it's pullbacks
...that particular set-up is based on the fact that the 20bols contain 95% of PA, so when price deviates outside them and particularly when you get a whole candle closing outside, preferably @ potential supp or res on next higher t/f (at least,) and when your osc's are o/s or o/b, it can lead to a good hi-prob trading opp -an effective 'mean reversion' pullback (at least.) In the circumstances I describe the set-up has a high win rate.
-----------------------------

1hr below
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Trader with an Edge.
  • #687,112
  • Sep 23, 2022 5:14am Sep 23, 2022 5:14am
Quoting Moty
Dx has made its high for today,111.900 is adr high
yes, when NY opens, likely to reverse.

Until then scalp
Intraday only.
  • #687,113
  • Sep 23, 2022 5:14am Sep 23, 2022 5:14am
Quoting Indiara
{quote} Well done!!
thank you ma'am
  • #687,114
  • Sep 23, 2022 5:15am Sep 23, 2022 5:15am
Can we see 11050 today?? Let’s hope so lol
Insane in the Brain..
  • #687,115
  • Sep 23, 2022 5:17am Sep 23, 2022 5:17am
it is rocket for me.

Trust me...all profits made in long trade.
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Intraday only.
  • #687,116
  • Sep 23, 2022 5:17am Sep 23, 2022 5:17am
Quoting Headland
{quote} ...that particular set-up is based on the fact that the 20bols contain 95% of PA, so when price deviates outside them and particularly when you get a whole candle closing outside, preferably @ potential supp or res on next higher t/f (at least,) and when your osc's are o/s or o/b, it can lead to a good hi-prob trading opp -an effective 'mean reversion' pullback (at least.) In the circumstances I describe the set-up has a high win rate. ----------------------------- 1hr below {image}
Thanks for the detailed explanation.
Another one into the book!
Exhausted
  • #687,117
  • Sep 23, 2022 5:17am Sep 23, 2022 5:17am
I will now wait to see the lows again to buy
Intraday only.
  • #687,118
  • Sep 23, 2022 5:20am Sep 23, 2022 5:20am
Quoting dantpm
{quote} Getting close to your short target?
Yeah. I will be out at 1.100xx
WARNING: This post warps space and time in its vicinity.
  • #687,119
  • Sep 23, 2022 5:22am Sep 23, 2022 5:22am
Quoting BeeTogether
Can we see 11050 today?? Let’s hope so lol
ON my charts below , the 138.2 level is the GREED level on both

and it was hit, so i am not taking chances now , it will be stupidity which may or may not work
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  • #687,120
  • Sep 23, 2022 5:23am Sep 23, 2022 5:23am
Dxy still has room to get to 114. More fall for GBP? Buys locked in from 1.118 to 1.103. Targets 1.13
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