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Cable Update (GBPUSD)

  • #702,761
  • Nov 2, 2022 10:11am Nov 2, 2022 10:11am
Gu sits at a QM on 1hr TF rn, if it holds then high probable it is UP.
More time in the market, does not mean you trade better!
  • #702,762
  • Nov 2, 2022 10:15am Nov 2, 2022 10:15am
Quoting navk
I may skip trading FED decision as the result of my daily trading appears so for good. However, I may trade some retrace after news event if that happens with small lot size. I am controlling emotions not to push sell/buy buttons. At times. I even close mt4 to control emotional trading. {image}
navk, you entered your long trades below PP, so how did you know the level won't hold? Any advice will be greatly appreciated.
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Always trade your own plan...I don't provide trading signals.
  • #702,763
  • Nov 2, 2022 10:17am Nov 2, 2022 10:17am
Quoting Moty
{quote} finally {image} {image}
crooky mf
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yes yes yes
  • #702,764
  • Nov 2, 2022 10:19am Nov 2, 2022 10:19am
Quoting Fardeen1209
Gu sits at a QM on 1hr TF rn, if it holds then high probable it is UP.
I cannot see QM, as I know it must be first HH that will be higher previous high HL, and then N3 from previous support
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  • #702,765
  • Nov 2, 2022 10:21am Nov 2, 2022 10:21am
Funny fact or not

Everytime the US raises rates USD rises, everytime ANY other countries do the same, their currency falls

The world should get rid of the USD as THE currency
COT: The precious data ignored
  • #702,766
  • Nov 2, 2022 10:23am Nov 2, 2022 10:23am
Quoting Fardeen1209
Gu sits at a QM on 1hr TF rn, if it holds then high probable it is UP.


QM is an abbreviation for what words?
I am confused here.
He who loves correction loves knowledge, but he who hates reproof is stupid
  • #702,767
  • Nov 2, 2022 10:25am Nov 2, 2022 10:25am
Quoting barbaruiva
{quote} QM is an abbreviation for what words? I am confused here.
https://tradingstrategyguides.com/qu...ding-strategy/
  • #702,768
  • Nov 2, 2022 10:28am Nov 2, 2022 10:28am
Quoting Coreg2004
{quote} navk, you entered your long trades below PP, so how did you know the level won't hold? Any advice will be greatly appreciated. {image}
4 hr candle was buy.

30 min HA candle was buy.

Having said, the price tend to go up to or above pivot ( in asia, or Frankfurt or LO ) though daily close of previous day was bearish.

The price doing now what it is supposed to do.

see the chart.

Infact the buy signal came in yesterday NY session, where you see the momentum candle ending in 4 hr buy candle
Attached Image (click to enlarge)
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Intraday only.
  • #702,769
  • Nov 2, 2022 10:33am Nov 2, 2022 10:33am
Quoting DmShka
{quote} Cover with tight sl, some tp, hope for double bottom, GL everyone, I think next bus stop FOMC, I will not trading more till FOMC {image}
SL triggered,
  • #702,770
  • Nov 2, 2022 10:40am Nov 2, 2022 10:40am
Next support at 1.14590
  • #702,771
  • Nov 2, 2022 10:41am Nov 2, 2022 10:41am
Gold support at 1640
  • #702,772
  • Nov 2, 2022 10:41am Nov 2, 2022 10:41am
Quoting DmShka
{quote}I cannot see QM, as I know it must be first HH that will be higher previous high HL, and then N3 from previous support {image}
Sometimes (many times) the structure does not always go as prescribed by the book.
You Point is it should make a HH first then on pullback, the low (left shoulder) is the QM.

Attached Image (click to enlarge)
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But many times it holds. Even tho no HH is made
More time in the market, does not mean you trade better!
  • #702,773
  • Nov 2, 2022 10:42am Nov 2, 2022 10:42am
Quoting kuroro001
Funny fact or not Everytime the US raises rates USD rises, everytime ANY other countries do the same, their currency falls The world should get rid of the USD as THE currency
It's a funny fact indeed. I thought the same when Gu was in a downtrend. After the UK rate increase Gu just went spiraling down, but nosedived even more with the Us rate increase. But then I ask myself, is it not that the market makers will do their own thing anyway? In line with the current trend. Priced in and so forth will always be used as an excuse afterwards.
Usdx looks like it wants to go down.
I could be wrong of course.
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Trade to trade another day
  • #702,774
  • Nov 2, 2022 10:43am Nov 2, 2022 10:43am
Quoting navk
{quote} 4 hr candle was buy. 30 min HA candle was buy. Having said, the price tend to go up to or above pivot ( in asia, or Frankfurt or LO ) though daily close of previous day was bearish. The price doing now what it is supposed to do. see the chart. Infact the buy signal came in yesterday NY session, where you see the momentum candle ending in 4 hr buy candle {image}
navk, I thought you trade the PP method the traditional way. My bad.Thanks.
Attached Image(s) (click to enlarge)
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Always trade your own plan...I don't provide trading signals.
  • #702,775
  • Nov 2, 2022 10:45am Nov 2, 2022 10:45am
Quoting Wavegarrick
{quote} It's a funny fact indeed. I thought the same when Gu was in a downtrend. After the UK rate increase Gu just went spiraling down, but nosedived even more with the Us rate increase. But then I ask myself, is it not that the market makers will do their own thing anyway? In line with the current trend. Priced in and so forth will always be used as an excuse afterwards. Usdx looks like it wants to go down. I could be wrong of course. {image}
Indeed, its something i'd like to understand

And for the USD, if it doesn't drop soon enough, economies will be in serious trouble (especially EM ones)

I guess all eyes on Powell and see if he can brings some relief on the current DXY rate
COT: The precious data ignored
  • #702,776
  • Nov 2, 2022 10:46am Nov 2, 2022 10:46am
Quoting mrluckystar
{quote} In... TP and buy limit change @ 1.1380 {image}
Tp1 @ 1.1440
Tp2 @ 1.1380
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Peace Yo!
  • #702,777
  • Nov 2, 2022 10:48am Nov 2, 2022 10:48am
Quoting Coreg2004
{quote} navk, I thought you trade the PP method the traditional way. My bad.Thanks. {image} {image}
Pivot points are for my guide lines.

Daily open below daily pivot means...some time in the day the price will go down and hit s1.

Search for short entry.

During asia, or late NY session the price tend to reverse to daily pivot of next day or just above that.

If you watch PA in asia, you can see.
Intraday only.
  • #702,778
  • Nov 2, 2022 10:48am Nov 2, 2022 10:48am
Quoting Fardeen1209
{quote} {image}
Sorry cannot see, I have bad imagination))))) in my broker it's cup, this pattern was good in that day)))))
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  • #702,779
  • Nov 2, 2022 10:54am Nov 2, 2022 10:54am
What is happening rn is clearly manipulation.
VOL is relatively low, PA spread is wide.
MM move to liquidity zone yesterday low?
More time in the market, does not mean you trade better!
  • #702,780
  • Nov 2, 2022 10:56am Nov 2, 2022 10:56am
Squeezing pips… good enough for today a 100% gain…
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Extreme gut feeling trader
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