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Cable Update (GBPUSD)

  • #704,881
  • Nov 8, 2022 4:19am Nov 8, 2022 4:19am
Coming soon to a critical point. Cable will probably come to support, move quickly upwards to my reference point and back down again
  • #704,882
  • Nov 8, 2022 4:19am Nov 8, 2022 4:19am
Quoting kuroro001
{quote} Imagine a very hot CPI...it would be ugly for now my m1/m5 are down....so i'll keep selling
im only imagine my chart with simple logic:
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  • #704,883
  • Nov 8, 2022 4:23am Nov 8, 2022 4:23am
Common sense is not very common as we realise as we age.
  • #704,884
  • Nov 8, 2022 4:24am Nov 8, 2022 4:24am
Still waiting to hit support
  • #704,885
  • Nov 8, 2022 4:25am Nov 8, 2022 4:25am
Quoting Houtbay
Coming soon to a critical point. Cable will probably come to support, move quickly upwards to my reference point and back down again
Did you attach a chart to show what you are describing?
  • #704,886
  • Nov 8, 2022 4:26am Nov 8, 2022 4:26am
I'm still none the wiser

On the 30 minute we're in a down trend but also starting an uptrend?

Are we taking the highs at 1.1540 or the lows at 1.1430? Both?
  • #704,887
  • Nov 8, 2022 4:26am Nov 8, 2022 4:26am
Quoting Headland
...so bulls launch a with 1hr uptrend attempt to go higher (after the pullback) from deeper in that prev 1hr sw lo zone confluence with the daily pivot & 2 x fibs. 1hr below {image}
Quoting Headland
...last 1hr close bullishly engulfs last 3 candle bodies...bulls now struggling at breached asc t/line -underside / a prev 30min sw hi zone. Last gmt+2 4hr close a bullish-bodied pinbar a few mins ago 1hr below {image}

Headland.

Thanks for the head ups.
Appreciate your posting, non bias but looking at what price is doing NOW.
Just follow the price.

Keep it up Bro.


pat CHIKO
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #704,888
  • Nov 8, 2022 4:27am Nov 8, 2022 4:27am
Attached Image (click to enlarge)
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yes yes yes
  • #704,889
  • Nov 8, 2022 4:31am Nov 8, 2022 4:31am
Quoting MrFanciful
I'm still none the wiser On the 30 minute we're in a down trend but also starting an uptrend?
This is a great reason to do nothing at all except preserve your capital until there is a clear picture, which may or may not be today. You do not HAVE to be in the market all the time. In fact it is better to only be in the market when you have a clear picture of what is likely to happen.
I am neither brave nor stupid...I am just a part time trader
  • #704,890
  • Nov 8, 2022 4:35am Nov 8, 2022 4:35am
Quoting Indiara
{quote} This is a great reason to do nothing at all except preserve your capital until there is a clear picture, which may or may not be today. You do not HAVE to be in the market all the time. In fact it is better to only be in the market when you have a clear picture of what is likely to happen.
When we're already in the trend, I think it's too late and start looking for reversals.
  • #704,891
  • Nov 8, 2022 4:38am Nov 8, 2022 4:38am
,
Quoting MrFanciful
I'm still none the wiser On the 30 minute we're in a down trend but also starting an uptrend? Are we taking the highs at 1.1540 or the lows at 1.1430? Both?
I don't know to whom your question is addressed specifically so i'll assume it's an open question to the thread.

If per your analysis method for gauging chart conditions (ie ranging or trending) you think 30min is in a downtrend then you will be looking for a short entry on 5min or even 1min if proficient. If you believe it is at the '..start of an uptrend...' then you may prefer to look for a long entry in the same way but this will be theoretically riskier as there is no defined uptrend yet just the '...start ...' of a trend as you say.

Also be PA led, if you miss say a 1min entry wait for the 3min close or 5min close etc etc...

Be sure of your t/f combinations, ie 1min 5min, 30min, 2hr and/or 3min, 15min, 1hr, 4hr etc etc...
Trader with an Edge.
  • #704,892
  • Nov 8, 2022 4:42am Nov 8, 2022 4:42am
Quoting MrFanciful
{quote} When we're already in the trend, I think it's too late and start looking for reversals.

So wait. Waiting costs nothing. Even if you only find one decent opportunity in the whole week, that's better than trying to invent trades that burn your account every time.

I lost 6 pips in one trade today, and I have not seen any other opportunities. So I wait. If this uptrend continues, it has to first get over the 1.1500 line, and then the price has to make a higher high to confirm the uptrend continuation. This is a safer way to enter a trade. If this run down becomes a full blown reversal, again, wait until it is confirmed. There will be opportunities in both cases. Wait for them to come to you. If you try to force it to happen, you will lose.
I am neither brave nor stupid...I am just a part time trader
  • #704,893
  • Nov 8, 2022 4:47am Nov 8, 2022 4:47am

And the Common Denominator is (maybe)




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  • #704,894
  • Nov 8, 2022 4:48am Nov 8, 2022 4:48am
Quoting Headland
,{quote} I don't know to whom your question is addressed specifically so i'll assume it's an open question to the thread. If per your analysis method for gauging chart conditions (ie ranging or trending) you think 30min is in a downtrend then you will be looking for a short entry on 5min or even 1min if proficient. If you believe it is at the '..start of an uptrend...' then you may prefer to look for a long entry in the same way but this will be theoretically riskier as there is no defined uptrend yet just the '...start ...' of a trend as you say....
Trying to catch swing reversal in timeframe less than 15mins is fatal. A trader can easily get caught on the wrong side or even if he/she is correct, he will run the risk of being stopped out first, then expected direction resume
More time in the market, does not mean you trade better!
  • #704,895
  • Nov 8, 2022 4:50am Nov 8, 2022 4:50am
...potential at least for 1hr to close as dark clour cover or more? 10mins to go.
Trader with an Edge.
  • #704,896
  • Nov 8, 2022 4:53am Nov 8, 2022 4:53am
m5 still down, m1 up...waiting for m1 to turn back down so i can add shorts
COT: The precious data ignored
  • #704,897
  • Nov 8, 2022 4:54am Nov 8, 2022 4:54am
Quoting Fardeen1209
{quote} Trying to catch swing reversal in timeframe less than 15mins is fatal. A trader can easily get caught on the wrong side or even if he/she is correct, he will run the risk of being stopped out first, then expected direction resume
It is potentially riskier yes, but if you have definite pre-identified potential supp/res/sbr/rbs on your higher t/f's and are guided priamarilly by PA and a couple of other studies to back it up, like osc div for example, it can be less risky, and get's you in sooner.
Trader with an Edge.
  • #704,898
  • Nov 8, 2022 4:59am Nov 8, 2022 4:59am
[quote=Indiara;14214235]{quote} So wait. Waiting costs nothing. Even if you only find one decent opportunity in the whole week, that's better than trying to invent trades that burn your account every time. I lost 6 pips in one trade today,

Indi, U/J 4 hour chart, uk time.
1= outside bar.
2 =break of outside bar plus showing bullish.
x = 2 inside bars.
3 = outside bar showing bullish but it also broke the 2 inside bars.
4 = this too broke the inside bars high, but ended up showing bearish.
the last bar, dropped and also broke the previous bar low.
Attached Image (click to enlarge)
Click to Enlarge Name: UJ 08 F.png Size: 5 KB
i know you trade differently and look for other triggers, but these i posted are standard good old timers.
Trade well.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #704,899
  • Nov 8, 2022 4:59am Nov 8, 2022 4:59am
Quoting Yngwie
Buy limit 1.1455 SL 1.1415
Shitty market. Wasted. Closed
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #704,900
  • Nov 8, 2022 5:01am Nov 8, 2022 5:01am
Come on drop below 11450 and open the door to 11380
Insane in the Brain..
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