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Cable Update (GBPUSD)

  • #704,701
  • Nov 7, 2022 1:13pm Nov 7, 2022 1:13pm
I feel like we're getting pretty close to shorting territory at this point. I just have a hard time believing g/u will break this longer term trendline (which it has been respecting up until now) prior to CPI release on Thursday. More likely seems like a pullback and range trading over the next few days. A better then expected CPI report could send this pair shooting up though. Dollar is in similar position at potential trendline area and is due for a pullback after a very bearish past few days as well. But hey, what do I know? Market could certainly prove me wrong.
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  • #704,702
  • Nov 7, 2022 1:13pm Nov 7, 2022 1:13pm
Quoting Georginson
{quote} @Coreg2004, @elbert... You guys are one of the few that post charts and extremely useful set ups... Not necessarily posting profits or losses. Traders giving massive attention to post involving 400k in one week shows how vain most of us are... Though posting of profits can encourage others having losses to believe they can turn it around but I'm of the school of thought that charts and set up posting can be generally useful to genuine traders that want to follow learning process not just ephemeral results without consistency. Keep up the...
Georginson, I'm not saying there is anything wrong with posting profits and other success stories. I read these posts with great interest and admiration in my free time although I concentrate on posts that can have an immediate impact on my trading (profits). Too many traders to mention who sharpen my focus after I read their posts. We have a bunch of very good people here and I'm glad I'm part of this thread.
Always trade your own plan...I don't provide trading signals.
  • #704,703
  • Nov 7, 2022 1:19pm Nov 7, 2022 1:19pm
Quoting Coreg2004
{quote} Georginson, I'm not saying there is anything wrong with posting profits and other success stories. I read these posts with great interest and admiration in my free time although I concentrate on posts that can have an immediate impact on my trading (profits). Too many traders to mention who sharpen my focus after I read their posts. We have a bunch of very good people here and I'm glad I'm part of this thread.
I totally get your point mate, I just used the opportunity to state my view on the subject.
Data + Stat + Risk/Emotions Management
  • #704,704
  • Nov 7, 2022 1:21pm Nov 7, 2022 1:21pm
All aboard
  • #704,705
  • Nov 7, 2022 1:22pm Nov 7, 2022 1:22pm
I'm getting mixed signals based on this post from yesterday...

A dual scenario is playing out now, I will close my sell once price gets back to 1.1500.

I will wait for price to trade below 1.1422 tomorrow before pulling the sell trigger, failure to trade below 1.1422 tomorrow will mean 1.1680 - 1.1720 is very much a possibility and I will react accordingly by buying to that area on any pull back above 1.1422...
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Data + Stat + Risk/Emotions Management
  • #704,706
  • Nov 7, 2022 1:22pm Nov 7, 2022 1:22pm
Quoting Coreg2004
{quote} Georginson, I'm not saying there is anything wrong with posting profits and other success stories. I read these posts with great interest and admiration in my free time although I concentrate on posts that can have an immediate impact on my trading (profits). Too many traders to mention who sharpen my focus after I read their posts. We have a bunch of very good people here and I'm glad I'm part of this thread.
count yourself in that bracket buddy . Regards E
  • #704,707
  • Nov 7, 2022 1:27pm Nov 7, 2022 1:27pm
Quoting bilal1947
{quote} If your e following ICT let me mark it for you: we will only use terms as Liquidity or hold highs/lows, Fvg and OB, i hardly see BOS as well Price can flip upon filling of fvg, tap in to OB or after taking a swing, if price has to go up it will comes back to fill the fvgs and tapping into OB and making HLs as we noticed in todays GU / EU scenario. {image}

Very very thank you Bilal for your correction. It is very hard to find high impact member who spend their valuable time to correct someone’s mistake with valuable detail and information. But thank god, I found you

I have been learning ICT & SMC for for only 6 months and I think I have a lot of thing more to learn. Finding daily bias and valid order block are two of my challenges. I failed a lot of time but still not giving up on learning.

Your information is very helpful to correct my mistake and to improve my self as SMC trader.

God bless you Bilal
Have a nice day
With courage, patience, and discipline, success is a matter of time.
  • #704,708
  • Nov 7, 2022 1:33pm Nov 7, 2022 1:33pm
Time to do a temporary balance
you remember that i made 2850 $ from 140 $ in 3 weeks and then lost
almost all into 250 $ , now the balance from 29th of September is 1276 $
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yes yes yes
  • #704,709
  • Nov 7, 2022 1:36pm Nov 7, 2022 1:36pm
Quoting Whale
{quote} 1.1585 is dead line.. my stop. if it will hit my whole map is ruined
It doesn't look good for bears at all. I am in it only for a few. Monthly is gready for 1.20, weekly overbought Stochatic. 4 hr no signs of bears. I think China will smash dollar overnight. Not sure what to expect from US elections. Risk on.

4hr.
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  • #704,710
  • Nov 7, 2022 1:39pm Nov 7, 2022 1:39pm
Quoting Jolita
{quote} It doesn't look good for bears at all. I am in it only for a few. Monthly is gready for 1.20, weekly overbought Stochatic. 4 hr no signs of bears. I think China will smash dollar overnight. Not sure what to expect from US elections. Risk on. 4hr. {image}
Election results are tomorrow night
  • #704,711
  • Nov 7, 2022 1:43pm Nov 7, 2022 1:43pm
As always, it was sure nice spending time with you all!

I hope to wake up and see all my remaining untriggered orders triggered, then pinch myself and still not wake up

Nighty night folks,!

Oh, I almost forgot, Sell stop 1465 ! Cheers !!! ! !
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If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #704,712
  • Nov 7, 2022 2:02pm Nov 7, 2022 2:02pm
Quoting Jolita
{quote} It doesn't look good for bears at all. I am in it only for a few. Monthly is gready for 1.20, weekly overbought Stochatic. 4 hr no signs of bears. I think China will smash dollar overnight. Not sure what to expect from US elections. Risk on. 4hr. {image}
price never lie, although some of here think it is.. its lies when its against them, and when they are in the money the price is right.

im running circa -200 average short. -11290$ right now.
lets hope i will not say goodbye.

And the funny story is that I was driving to work today, and I had a flat tire on the way, I pulled over, opened the phone and saw the price (before LO) I pushed a few shorts because I was sure that the route to 1.1 is open. I finished changing a tire, arrived at the office, washed my hands, opened my computer and was shocked. One hour I lost over 100 pips.
  • #704,713
  • Nov 7, 2022 2:10pm Nov 7, 2022 2:10pm
Quoting Whale
{quote} price never lie, although some of here think it is.. its lies when its against them, and when they are in the money the price is right. im running circa -200 average short. -11290$ right now. lets hope i will not say goodbye. And the funny story is that I was driving to work today, and I had a flat tire on the way, I pulled over, opened the phone and saw the price (before LO) I pushed a few shorts because I was sure that the route to 1.1 is open. I finished changing a tire, arrived at the office, washed my hands, opened my computer and was...
11k --- Ouch . hope you recover or minimise the dd
  • #704,714
  • Nov 7, 2022 2:10pm Nov 7, 2022 2:10pm
Mid terms tomorrow eurusd pushing nicely took awhile but weekly eurusd looks good for serious upside
Master your mind. Master Trading.
  • #704,715
  • Nov 7, 2022 2:14pm Nov 7, 2022 2:14pm
Quoting Whale
{quote} price never lie, although some of here think it is.. its lies when its against them, and when they are in the money the price is right. im running circa -200 average short. -11290$ right now. lets hope i will not say goodbye. And the funny story is that I was driving to work today, and I had a flat tire on the way, I pulled over, opened the phone and saw the price (before LO) I pushed a few shorts because I was sure that the route to 1.1 is open. I finished changing a tire, arrived at the office, washed my hands, opened my computer and was...
It will go down at some point, question is when? Usually first takes ones sl, then moves where it should.
I hope not this time and all will work out well for you.
Those signs today for you were sick!
  • #704,716
  • Nov 7, 2022 2:15pm Nov 7, 2022 2:15pm
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already in short with a long hedge . So let’s see if the rule comes into play we see the short candle closed on the left under the ema . So enter as price breaks that candle with a stop on the top . Let’s see
  • #704,717
  • Nov 7, 2022 2:16pm Nov 7, 2022 2:16pm
Quoting Jolita
{quote} It doesn't look good for bears at all. I am in it only for a few. Monthly is gready for 1.20, weekly overbought Stochatic. 4 hr no signs of bears. I think China will smash dollar overnight. Not sure what to expect from US elections. Risk on. 4hr. {image}
While I understand your points I'm going to take the exact opposite approach.

The part about China smashing the dollar - I don't get that so I'll ask for clarification please.

US elections - confusion and uncertaininy until Thursday at the earliest; best case scenario: Republicans take control of House and Senate = GRIDLOCK = EQUITY MARKETS LOVE THAT!

As for direction - I believe it will be lower on Friday then it is now. Reasoning:

1. US rates will continue to rise despite the talking heads and their PIVOT

2. Cable is overextended and I believe that this is a minor bull trap in a bear market.

3. I'm playing for a drop down to the 1.14 level - I'm still short and underwater since 1.1478.
...because you never know - until you do!
  • #704,718
  • Nov 7, 2022 2:25pm Nov 7, 2022 2:25pm
1.1450 is going to be a strong support
POSTMASTER
  • #704,719
  • Nov 7, 2022 2:26pm Nov 7, 2022 2:26pm
Quoting Georginson
{quote} @Coreg2004, @elbert... You guys are one of the few that post charts and extremely useful set ups... Not necessarily posting profits or losses. Traders giving massive attention to post involving 400k in one week shows how vain most of us are... Though posting of profits can encourage others having losses to believe they can turn it around but I'm of the school of thought that charts and set up posting can be generally useful to genuine traders that want to follow learning process not just ephemeral results without consistency. Keep up the...
You only need to post %%%, percent profit. That way it can equate to any amount. 5% could = £5 or £50k
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #704,720
  • Nov 7, 2022 2:26pm Nov 7, 2022 2:26pm
Quoting Robinhood1
1.1450 is going to be a strong support
Maybe from 1.1450 to above 1.1600
POSTMASTER
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