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Cable Update (GBPUSD)

  • #692,581
  • Oct 6, 2022 6:41am Oct 6, 2022 6:41am
Quoting BigNumbers
CHFJPY LONG 147.085 SL Take 50 pips first,,,
this morning we took 50 pips from CHFJPY long.
now we are going to take the opposite trade again.

CHFJPY SHORT
TAKE 50 pips.

possible TP 146.533
My telegram: https://t.me/avidforex
  • #692,582
  • Oct 6, 2022 6:44am Oct 6, 2022 6:44am
Quoting TheWolf
{quote} Will manually close 1.127 if I see strong movements above 1.127 now. We should see big 4H candle going down now though to at least 1.121...we'll see..stay sharp!
Looking at the ADX and it appears that there are more reasons to sit on the side lines than to trade right now.
  • #692,583
  • Oct 6, 2022 6:45am Oct 6, 2022 6:45am
Quoting tenkanzen
{quote} {image}
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The moment I give up waiting it drops...
  • #692,584
  • Oct 6, 2022 6:45am Oct 6, 2022 6:45am
...bulls fall @ 1st hurdle - so far...5min bearish hidden div doing the business at that prev 30min sw lo zone = prev supp = pot sbr/23.6% of the current dly hi-lo

Any residual demand left in this prev 1hr/4hr sw lo zone down to y/day's lo?

5min below
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Trader with an Edge.
  • #692,585
  • Edited 7:00am Oct 6, 2022 6:46am | Edited 7:00am
Quoting fxpider
I am suffering from severe PE , I mean premature Exit . can someone please guide me on how to deal with this? if I hold on to trade then the SL gets hits however whenever I TP a small profit.... it goes for a healthy run. Please help.
Look at How PAT Chiko do it!
Well, thats wholly depend on what type of trader you are. If you are like caveman (primitives- who used only Support and resistance, liquidity zone with no indicators) then PAT's trading style might be useful to you.
If you are a similar school of thought, using no indicators for entry and exit but wholly depend only on S&R, how PAT do it- is explained in his open educational thread which will put you ahead of many traders here who are constantly suffering from bad entries and exits.
I'm talking from experience.
When i start trading i did not have a good entry and exit setup. i didn't even know how to do it. I used to rely on RSI(overbought/oversold) and price action formation only, but majority of the time, i enter too late or too early. Either way, i would be stopped out.
So when i get access to PAT educational thread "nothing to hid" and "Sang Real notes", the whole thing changed for me. With his strategy, you get to have an insight where the money lies, what the institution wants.
Now my whole generation will be in debt to him.

**Note: Even tho it is a high winning rate strategy, it is not a "sure-thing" and carry Risks!

Hope that help mate.

Regards
Fardeen
More time in the market, does not mean you trade better!
  • #692,586
  • Oct 6, 2022 6:48am Oct 6, 2022 6:48am
Quoting tenkanzen
{quote} {image} The moment I give up waiting it drops...
Think GU will be ranging at the Liquidity zone below yesterday's low, while EU will also go down to its yesterday's low
More time in the market, does not mean you trade better!
  • #692,587
  • Oct 6, 2022 6:50am Oct 6, 2022 6:50am
...re 10/20/50 ema crosses, 4hr holding out!
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Trader with an Edge.
  • #692,588
  • Oct 6, 2022 6:52am Oct 6, 2022 6:52am
As Pat says, take the profit while you have it ! 1.127 out. 1.125 running.
I'm also quilty of TP-ing too soon. But I'm newer to scalping..
  • #692,589
  • Oct 6, 2022 6:54am Oct 6, 2022 6:54am
... 50% of the total 0327-1495 move up is 0911. Just saying!

Quoting TheWolf
As Pat says, take the profit while you have it ! 1.127 out. 1.125 running. I'm also quilty of TP-ing too soon. But I'm newer to scalping..
Who is this Pat guy? Is he that Patmartski type? ie the one that Wavegarrick thinks is WaveskierRob and possibly even Martinez1 as well, lol! Apparently their/his evil plan for world (well, forum thread at least) domination will all become apparent soon. I can't keep up with the conspiracy theories. I always think if you are thinking ' outside the box, ' you should always have the box in view! Sorry for any spelling mistakes, just in case the spelling police are monitoring.
Trader with an Edge.
  • #692,590
  • Oct 6, 2022 7:00am Oct 6, 2022 7:00am
Quoting Headland
... 50% of the total 0327-1495 move up is 0911. Just saying! {quote} Who is this Pat guy? Is he that Patmartski type? ie the one that Wavegarrick thinks is WaveskierRob and possibly even Martinez1 as well, lol! Apparently their evil plan for world (well forum thread) domination will all become apparent soon. I can't keep up with the conspiracy theories.
Hahah LoL..
Also, I've took some profit out of 1.125. Will reload perhaps. 1.125 reloaded!
Waiting for sell, first stop at 1.125. If not, that's okay..
1.1275 possible place to short from.
  • #692,591
  • Edited 7:11am Oct 6, 2022 7:00am | Edited 7:11am
Quoting TheWolf
As Pat says, take the profit while you have it ! 1.127 out. 1.125 running. I'm also quilty of TP-ing too soon. But I'm newer to scalping..
Wise words...those bulls who were gloating are now kareeming, sorry I meant careening into losses.
  • #692,592
  • Oct 6, 2022 7:06am Oct 6, 2022 7:06am
Quoting TheWolf
{quote} I think it's critical to examine first where possible Supports and Resistances are. If you get this right, you are doing great. Then identify the trend and also identify where LH, LL, HH, and HL are. These are the spots price will most often reach. Example: {image}
Great post! I would like to add that these retests make great areas to enter with very tight stops. Many people believe you need to have big stops to protect yourself. Big risk = big reward?? But the point of failure is the retest so you can enter with a tiny SL and if it fails so what. Small risk = big reward.
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  • #692,593
  • Oct 6, 2022 7:07am Oct 6, 2022 7:07am
Quoting tenkanzen
{quote} Wise words...those bulls who were gloating are not kareeming, sorry I meant careening into losses.
Woah, Woah, Woah! Spelling Alert, I think it's kareering actually, but you might get let off with a caution on account of your danishness!
Trader with an Edge.
  • #692,594
  • Oct 6, 2022 7:07am Oct 6, 2022 7:07am
Quoting dantpm
{quote} I tried an EA that creates hidden stop losses but they were hunted just like the regular ones. Moving on to one of the EA's that works on equity, available margin and so on to see if I can find one that protects that account without stop losses. Equity works well so far.
LOL. I think you will find that the EA you used has the SL "hidden" only in the sense that it does not show up on your broker's books. But the EA is STILL going to be triggering the order to close when price reaches that level. So there is no practical difference for you to use one or the other.
To free Gazans of Hamas, use whatever it takes.
  • #692,595
  • Oct 6, 2022 7:09am Oct 6, 2022 7:09am
Quoting Bainbrito
{quote} Great post! I would like to add that these retests make great areas to enter with very tight stops. Many people believe you need to have big stops to protect yourself. Big risk = big reward?? But the point of failure is the retest so you can enter with a tiny SL and if it fails so what. Small risk = big reward. {image}
Exactly! I remember Navk and others in the past putting SL's 7 pips...I was like what? 7 pips SL? Funnily enough the trade went through for him not touching SL haha . I'm pretty sure it was Navk back then doing this tight SL's.
  • #692,596
  • Oct 6, 2022 7:10am Oct 6, 2022 7:10am
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Gold and Silver turned green again. Will play Gold and Silver for the US data news. Not looking at Cable for now.
  • #692,597
  • Oct 6, 2022 7:10am Oct 6, 2022 7:10am
Quoting Headland
... 50% of the total 0327-1495 move up is 0911. Just saying! {quote} Who is this Pat guy? Is he that Patmartski type? ie the one that Wavegarrick thinks is WaveskierRob and possibly even Martinez1 as well, lol! Apparently their/his evil plan for world (well, forum thread at least) domination will all become apparent soon. I can't keep up with the conspiracy theories. I always think if you are thinking ' outside the box, ' you should always have the box in view! Sorry for any spelling mistakes, just in case the spelling police are monitoring.
Patmartskiland........I like it
  • #692,598
  • Oct 6, 2022 7:14am Oct 6, 2022 7:14am
Done waiting... Bought at 1.1258... target 1.1358, second buy limit at 1.1150... stop at 1.1100 .
Data + Stat + Risk/Emotions Management
  • #692,599
  • Oct 6, 2022 7:14am Oct 6, 2022 7:14am
Quoting Fardeen1209
{quote} Look at How PAT Chiko do it! Well, thats wholly depend on what type of trader you are. If you are like caveman (primitives- who used only Support and resistance, liquidity zone with no indicators) then PAT's trading style might be useful to you. If you are a similar school of thought, using no indicators for entry and exit but wholly depend only on S&R, how PAT do it- is explained in his open educational thread which will put you ahead of many traders here who are constantly suffering from bad entries and exits. I'm talking from experience....
Thanks mate, I will look into PAT's system.
Success = Practice + Patience + Persistence
  • #692,600
  • Oct 6, 2022 7:16am Oct 6, 2022 7:16am
booked all shorts on cable - dry for us news
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