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Cable Update (GBPUSD)

  • #698,221
  • Oct 19, 2022 9:46am Oct 19, 2022 9:46am
Quoting TheWolf
{quote} If the sell gave more pips down, I would have stayed, however the sell was too weak in my opinion for this particular pair. Of course you helped me to look more objectively at the sell. H4 did confirm sell, but this Daily chart is what I'm worried about.. Daily chart still suggests this is buy. It just touched gray line and retracted up, like it bounced off of gray line up, 1.122 which a lot of traders were mentioning here today could be a strong Support. It didn't break the gray line (Support). {image}
But consider two things: The Daily has already closed 5 bars in an up swing; change comes from smaller TFs and progresses upward through the TFs.
To free Gazans of Hamas, use whatever it takes.
  • #698,222
  • Oct 19, 2022 9:47am Oct 19, 2022 9:47am
Quoting Polimini
{quote} the grandpa is like 80 or something, high on 10 different meds

You mean dementia Joe
  • #698,223
  • Oct 19, 2022 9:50am Oct 19, 2022 9:50am
added more position , go to the gap mf
Attached Image (click to enlarge)
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yes yes yes
  • #698,224
  • Oct 19, 2022 9:51am Oct 19, 2022 9:51am
Quoting bilal1947
Long GU at 1.12521 - 5pip SL {image}
1:4RR +22pips wow - in the machine - by the way this is not the trend so dont long for longer
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 22 KB
"Exchange of hands"
  • #698,225
  • Oct 19, 2022 9:52am Oct 19, 2022 9:52am
out from longs.

Enuff for the day
Attached Image (click to enlarge)
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Intraday only.
  • #698,226
  • Oct 19, 2022 9:54am Oct 19, 2022 9:54am
Quoting TheWolf
{quote} Oh.. yeah yeah yeah. You mentioned some custom TF's already which we don't have on MT4 yeah.. I'm satisfied with what I have. I'm also not good at programming so.. and I don't even know which TF is good and don't have time for finding out.
There is no such thing as A good TF: All TFs are essentially the same--a product of financial time series being fractal-like in nature. That is why it is important to examine multiple TFs to see your specific pattern unfolding, and which bigger TF is the "controller" of the smaller one that you are working with at the moment.

Because the control TF as well as the TF that you focus on for your trade are changing dynamically as price progresses, sticking with a single TF will make it very difficult to find good trades consistently.
To free Gazans of Hamas, use whatever it takes.
  • #698,227
  • Oct 19, 2022 9:55am Oct 19, 2022 9:55am
Quoting Moty
added more position , go to the gap mf {image}
I think you'll need a bigger hammer at the moment.
To free Gazans of Hamas, use whatever it takes.
  • #698,228
  • Oct 19, 2022 9:55am Oct 19, 2022 9:55am
Quoting DrDave
{quote} But consider two things: The Daily has already closed 5 bars in an up swing; change comes from smaller TFs and progresses upward through the TFs.
15M did confirm buy. Now, I wait 30M. But won't be trading anymore just so you know!
  • #698,229
  • Oct 19, 2022 9:56am Oct 19, 2022 9:56am
GU shorted: 7 pip SL
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 22 KB
"Exchange of hands"
  • #698,230
  • Oct 19, 2022 9:58am Oct 19, 2022 9:58am
I think this is a fake sell move. Retracement... 32 pips.
It's getting rangy though..

Anyway, I'm off. See you on Friday! Tommorow busy..
  • #698,231
  • Oct 19, 2022 10:01am Oct 19, 2022 10:01am
Quoting DrDave
{quote} I think you'll need a bigger hammer at the moment.
uj is awaken again , it will be enought
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.png Size: 22 KB
yes yes yes
  • #698,232
  • Oct 19, 2022 10:03am Oct 19, 2022 10:03am
Quoting TheWolf
{quote} 15M did confirm buy. Now, I wait 30M. But won't be trading anymore just so you know!
But remember to watch 1H as well. I already mentioned that 30m had its turn at the rally, so 1H is expected next. And it would be wise to include 2H. (For the astute reader, you can know if 2H is joining the rally by examining the smaller TF charts that you have to choose from on MT4/MT5.)
To free Gazans of Hamas, use whatever it takes.
  • #698,233
  • Oct 19, 2022 10:04am Oct 19, 2022 10:04am
Quoting navk
out from longs. Enuff for the day {image}
On average, how many trades a day?
  • #698,234
  • Oct 19, 2022 10:04am Oct 19, 2022 10:04am
Quoting DrDave
{quote} There is no such thing as A good TF: All TFs are essentially the same--a product of financial time series being fractal-like in nature. That is why it is important to examine multiple TFs to see your specific pattern unfolding, and which bigger TF is the "controller" of the smaller one that you are working with at the moment. Because the control TF as well as the TF that you focus on for your trade are changing dynamically as price progresses, sticking with a single TF will make it very difficult to find good trades consistently.
I have a mindset different from most (probably why I'm such a loser at this) but I've never understood why higher TFs are seen as more "powerful" than lower ones. The way I see it, a 1hr candle, is simply the aggregate to 60 1min candles. The 1hr is simply telling you the range that the previous 60 1min candle traded within. In fact, I just see the candles, and price action as simply a lagging indicator.

This comes from a book by Al Brooks that I read. Basically, no one knows, whether the next order to come in will be a buy or a sell, what time it will occur, or the volume of that order. Therefore, it doesn't matter much what the previous candles did. You might get an overall sense of a general theme, but at any given time, you have about 60/40 split of being correct on any given trade at the very best.

I find it hard to argue with that.
  • #698,235
  • Oct 19, 2022 10:07am Oct 19, 2022 10:07am
Gbpcad long 1.55100
  • #698,236
  • Oct 19, 2022 10:07am Oct 19, 2022 10:07am
You might want to consider NZDUSD, seems a bit more active (range) than GBPUSD
  • #698,237
  • Oct 19, 2022 10:10am Oct 19, 2022 10:10am
Daily S1 holding out so far
Insane in the Brain..
  • #698,238
  • Oct 19, 2022 10:14am Oct 19, 2022 10:14am
Gbocad changed from long to short.
  • #698,239
  • Oct 19, 2022 10:23am Oct 19, 2022 10:23am
Attached Image (click to enlarge)
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yes yes yes
  • #698,240
  • Oct 19, 2022 10:24am Oct 19, 2022 10:24am
Quoting MrFanciful
{quote} I have a mindset different from most (probably why I'm such a loser at this) but I've never understood why higher TFs are seen as more "powerful" than lower ones. The way I see it, a 1hr candle, is simply the aggregate to 60 1min candles. The 1hr is simply telling you the range that the previous 60 1min candle traded within. In fact, I just see the candles, and price action as simply a lagging indicator. This comes from a book by Al Brooks that I read. Basically, no one knows, whether the next order to come in will be a buy or a sell, what...
Go here and click the first link and pay attention to the part about the random walk and probability of returning to the same flower again. Applying this to your single bar that aggregates ticks for that period of time, when the bar closes, the ticks in that bar are the flowers that are in your field for visiting and have a probability of being visited during the next bar. So rather than a randomly generated price value to appear, there is a higher probability that the price that appears on the next tick will be in the just-closed bar. And the "most recently visited" tick in that closed bar has a higher probability of being "visited" again in the current bar than the other ticks.

Even in chaotic systems, the attractor produces areas of higher and lower density. So even though you cannot predict where a point in the chaotic system will next be plotted, as time passes, you can observe zones of higher density and position yourself in one of those zones to increase the probability that the next point will land on you, and definitely increase the probability that it will land nearer to you--that is in your zone--than farther away from you.
To free Gazans of Hamas, use whatever it takes.
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