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Cable Update (GBPUSD)

  • #695,581
  • Oct 13, 2022 3:08am Oct 13, 2022 3:08am
Quoting Pat Chiko
{quote} I'm at the gas station right now. You want something?
Yes please half a Curly Wurly, packet of Love Hearts and the love of a good women
  • #695,582
  • Oct 13, 2022 3:11am Oct 13, 2022 3:11am
Quoting Yngwie
1.1050 preferable Long
That would shake out a few stop losses...
  • #695,583
  • Oct 13, 2022 3:13am Oct 13, 2022 3:13am
Quoting billytt
{quote} good advice, once he tries trading hedging which can be done with demo. When it clicks , he will know. It is that eureka moment when it clicks, and then Happy days.
...on the nail, that's why it's so hard to explain, hence why I tell to experience it, can't really be put into words ..., thanks for the post
  • #695,584
  • Oct 13, 2022 3:15am Oct 13, 2022 3:15am
Quoting Pat Chiko
GU Trade Ideas Any comment welcome. Englis good or bad , no issue, just write, we can story here. If you cannot "brain" this, just ask question Let hear from each other.... wrong or write (typo) right, nenver mind we learn together. Thank you{image}

I believe GU may get to the bottom of this range and possibly beyond
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  • #695,585
  • Oct 13, 2022 3:16am Oct 13, 2022 3:16am
I have conflicting thoughts about CPI. On the one hand, I think it continues to be underestimated how deep the problem is. Inflation is self-reinforcing and tends to gradually spread to new areas. Hikes as such do not reduce inflation, they first have to make economic conditions much worse, and it did not happen in US so far.

On the other hand, I don't believe for a moment that the market makers don't know how the print will look like. And the last two times, we saw a big rally in stocks for a few days before CPI drop. This time, nothing like it. So market seems to be positioning for a lower figure (or maybe one within expectatiins).
  • #695,586
  • Oct 13, 2022 3:18am Oct 13, 2022 3:18am
Quoting Pat Chiko
{quote} Hello MapleLeaf. should've quote the source, if not it's just hearsay. BTW, the figure you've mentioned above is not official. It is median consensus estimated by group of banks ahead of CPI. Most traders took those number as "leaked" ahead of official data release Honestly, from my Newbie perspective,those estimates sure all seem to be too low. At this stage haven't banks realised they're constantly underestimating? The best estimate so far I've seen is Cleveland Fed, which has underestimated by a few tenths, but has been pretty close each...

Hello dude, all those sources you are quoting are expecting an SP500 between 3600 and 4000 for the end of the year, and obviously they will fail big time. Believe it or not, SP500 will be close to 3000 for the end of this year.

They usually fail in their predictions. JP Morgan, Morgan Stanley, etc, are the same people predicting Bitcoin at 100K for December 2021. Definitely not serious.

Let me tell you that they will definitely fail big time. Don't need to be a NASA guy to figure that out.
The Black Swan: The Impact of the Highly Improbable
  • #695,587
  • Oct 13, 2022 3:18am Oct 13, 2022 3:18am
Quoting Pat Chiko
{quote} I'm at the gas station right now. You want something?
tropical skittles and some bubbleicious
Insane in the Brain..
  • #695,588
  • Oct 13, 2022 3:21am Oct 13, 2022 3:21am
Quoting Indiara
{quote} I don't really have any experience at long term (or short term for that matter) analysis or forecasting. I trade things as I see them at the time....you've probably noticed! BUT....hee hee hee.....when I see you chart forecast and I look at my own H4 chart I agree with the direction of going up, but I don't know about the levels that the action might stop at on the way up. The reason I say this is because the MACD is looking to turn up, as is the Stochastic (with my own settings). Also, the RSI is hovering around the 50 level and if it gets...
Have you ever tried using the RSI and a moving average? Tradingview allows this, you set the RSI to a period of 150 and the moving average to 35. Now the RSI shows you up and down momentum and strength of momentum whether the indicator is above or below 50.

I would appreciate knowing your custom stochastic and MACD settings.
  • #695,589
  • Oct 13, 2022 3:22am Oct 13, 2022 3:22am
Quoting Waveskierrob
{quote} ok if you are SHORT and the price rises, and you've been hedging LONG if what you have banked more than the SHORT loss then you could close the SHORT, you've made profit happy days then start over again....or carry on hedging LONG but then also place another SHORT no TP no SL. so now you will 1 x LONG with TP and no SL and 2x SHORTS, 1 with original TP no SL and 1 with no TP no SL, carry on hedging if price goes up. if price goes down then you can close both SHORTS when original SHORT TP is hit and the 1 x LONG, if you do this you will be...
thank you very much for your detailed answer!

I will now let this set and continue to practice, practice, ...and then I will surely come back with questions;-) thank you
trading is like dancing, don't think and just listen to the music!
  • #695,590
  • Oct 13, 2022 3:23am Oct 13, 2022 3:23am
[quote=Indiara;14177745]{quote} I don't really have any experience at long term (or short term for that matter) analysis or forecasting. I trade things as I see them at the time....you've probably noticed! BUT....hee hee hee.....when I see you chart forecast and I look at my own H4 chart I agree with the direction of going up, but I don't know about the levels that the action might stop at on the way up. The reason I say this is because the MACD is looking to turn up, as is the Stochastic (with my own settings). Also, the RSI is hovering around the 50 level and if it gets abov

These times are slightly different from times gone Re:- trading.
A major problem is, the profit expectations one has.
A person may well have 40 pips in profit expecting 100, and wham ,price goes against them and they lose.
I cannot see the point in trailing stops etc as if we make a pip, we keep a pip. not let it go.

Get your chart, see the levels, resistance/support , pivots etc . GET A TRIGGER forget rsi etc. and trade what is happening now.
Trade well.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #695,591
  • Oct 13, 2022 3:24am Oct 13, 2022 3:24am
Waiting 1H candle to open above 1.1130 to add lot

Yes I have a dream
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #695,592
  • Oct 13, 2022 3:24am Oct 13, 2022 3:24am
Quoting billytt
{quote} good advice, once he tries trading hedging which can be done with demo. When it clicks , he will know. It is that eureka moment when it clicks, and then Happy days.
it has actually clicked in the last few days as you say, but the finishing touches are now the hard work;-)

but i won't put this tool down again, thank you both!

it took years for me...
trading is like dancing, don't think and just listen to the music!
  • #695,593
  • Oct 13, 2022 3:24am Oct 13, 2022 3:24am
This is not similar LO as we see everyday. Subdued.

Probably due to NY CPI release
Intraday only.
  • #695,594
  • Oct 13, 2022 3:28am Oct 13, 2022 3:28am
Hedge time one thinks. First trades not going the way I like it but of juggling to be had I think
  • #695,595
  • Oct 13, 2022 3:28am Oct 13, 2022 3:28am
Quoting birdland
{quote} it has actually clicked in the last few days as you say, but the finishing touches are now the hard work;-) but i won't put this tool down again, thank you both! it took years for me...

yes indeed, good.
But Wavesr explained it better than moi. What he posted is very similar to how i trade a fail....
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #695,596
  • Oct 13, 2022 3:30am Oct 13, 2022 3:30am
Quoting MapleLeaf
{quote} Hello dude, all those sources you are quoting are expecting an SP500 between 3600 and 4000 for the end of the year, and obviously they will fail big time. Believe it or not, SP500 will be close to 3000 for the end of this year. They usually fail in their predictions. JP Morgan, Morgan Stanley, etc, are the same people predicting Bitcoin at 100K for December 2021. Definitely not serious. Let me tell you that they will definitely fail big time. Don't need to be a NASA guy to figure that out.
Hello Sir.
I'm not dude.
Yes, you may be right.
But, what I'm tryin to say, any info with reliable source will be a reference to begin with.

As Professional Newbie, I always look at data and study the micro not just hearsay
And I agree with you bank, will always give wrong estimate to fill up their book order.
Same as CPI, they always make an under estimate so the can dumb the market at the expenses of retailers.

We don't have to NASA guy to figure this.
Without reliable source , it is just a prediction or guessing.

Good luck to your trade.
And remember , treat FF like a place to learn, not to argue
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #695,597
  • Oct 13, 2022 3:33am Oct 13, 2022 3:33am
Quoting Waveskierrob
{quote} ok if you are SHORT and the price rises, and you've been hedging LONG if what you have banked more than the SHORT loss then you could close the SHORT, you've made profit happy days then start over again....or carry on hedging LONG but then also place another SHORT no TP no SL. so now you will 1 x LONG with TP and no SL and 2x SHORTS, 1 with original TP no SL and 1 with no TP no SL, carry on hedging if price goes up. if price goes down then you can close both SHORTS when original SHORT TP is hit and the 1 x LONG, if you do this you will be...
Hedging is the mother of all profits
WARNING: This post warps space and time in its vicinity.
  • #695,598
  • Oct 13, 2022 3:34am Oct 13, 2022 3:34am
Quoting billytt
Quoting Indiara
{quote} I don't really have any experience at long term (or short term for that matter) analysis or forecasting. I trade things as I see them at the time....you've probably noticed! BUT....hee hee hee.....when I see you chart forecast and I look at my own H4 chart I agree with the direction of going up, but I don't know about the levels that the action might stop at on the way up. The reason I say this is because the MACD is looking to turn up, as is the Stochastic (with my own settings). Also, the RSI is hovering around
...
quote. Cable daily RSI, oversold. IT's BOLLOCKS.
Attached Image (click to enlarge)
Click to Enlarge Name: gu 13 10 B.png Size: 7 KB
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #695,599
  • Oct 13, 2022 3:38am Oct 13, 2022 3:38am
Quoting WizardTrade
{quote} Hedging is the mother of all profits
Hedging gives you time for your original trade to go into profit, stop losses don't, not saying that stop losses are bad, they are just another tool in your arsenal and if used correctly can be beneficial, I just prefer hedging, personal choice
  • #695,600
  • Oct 13, 2022 3:38am Oct 13, 2022 3:38am
Quoting dantpm
{quote} Have you ever tried using the RSI and a moving average? Tradingview allows this, you set the RSI to a period of 150 and the moving average to 35. Now the RSI shows you up and down momentum and strength of momentum whether the indicator is above or below 50. I would appreciate knowing your custom stochastic and MACD settings.
No I have never tried that, what type of moving average do you suggest?

My MACD settings are standard 12, 26, 9 but I remove the histogram part so I am just left with 2 lines, the Signal line and the MACD line. It works like a stochastic.

Stochastic settings are: K period = 38, D Period = 18 and slowing = 13. MA is set to LWMA and Price Field is set to Close/Close

I am neither brave nor stupid...I am just a part time trader
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