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Cable Update (GBPUSD)

  • #706,141
  • Nov 10, 2022 2:00pm Nov 10, 2022 2:00pm
They doing it again.. time to fold and cry in bed.
  • #706,142
  • Nov 10, 2022 2:01pm Nov 10, 2022 2:01pm
Quoting Pat Chiko
{quote} GU Last scalping trades open. Moved to positive stop Price pulling back befire continue to Target 3. Hoping to get some luck{image}
GU

End of scalping.
331 pipa.
Attached Image (click to enlarge)
Click to Enlarge Name: gu 005.jpg Size: 187 KB


Friday US Holiday.
Projecting the manipulation pattern ahead.
(based on S& R)
Subject to revision at LO, as we may see what's price want to do by then.


Afterthought
In reality a good trader must have a method of entry and exit that gives them a demonstrable edge.

Exit demands that the brain make a decision while there is money at risk, and if there is anything less than total confidence in a clearly defined method, then the decision must come from elsewhere.
Very simply, if my method has no objectively provable edge, then I'm only guessing.

Many will fail because if they’re not prepared to wait several years to reach financial freedom, hence start undercapitalized relative to the position sizes that leverage allows them to take.
Positions should be sized small enough to allow emotional detachment.
Scared money never wins.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #706,143
  • Nov 10, 2022 2:02pm Nov 10, 2022 2:02pm
GU now below 1700...big move for one day...I expect some correction tomorrow...bulls should be tired and its profit taking day tomorrow, too. 15xx wouldn't surprise me.
Everyone can see the chart, but only a few can actually read it.
  • #706,144
  • Nov 10, 2022 2:02pm Nov 10, 2022 2:02pm
Swing sell placed at 1.1696, target 1.1462...
Data + Stat + Risk/Emotions Management
  • #706,145
  • Nov 10, 2022 2:07pm Nov 10, 2022 2:07pm
Quoting dantpm
{quote} So Pat and Coreg2004 are two different people who contribute different things to this forum. It is great that you like Pat's style. Coreg2004 has a different style and makes a different contribution to the forum.
dantpm, I'm innocent... I only provide analysis of the position of the market atm to the best of my knowledge. Where is the market right now? What do we expect after 1-5 or ABC patterns? That's all.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GU 11.10 3M.png Size: 40 KB
Click to Enlarge Name: VeryShortThermWaveScheme5_15minto1H.png Size: 82 KB
Always trade your own plan...I don't provide trading signals.
  • #706,146
  • Nov 10, 2022 2:10pm Nov 10, 2022 2:10pm
Was a good day once again, even underwater long turned in a nice profit. I've also added long this morning from 11375 area, which I manuallyclosed for +300pips.
NU also closed.

Trying risky short.
Russia pulling out from Ukraine?
  • #706,147
  • Nov 10, 2022 2:13pm Nov 10, 2022 2:13pm
Quoting BeeTogether
This MoFo just don’t wanna go down…
May be she want to do this stunt tomorrow......
Attached Image (click to enlarge)
Click to Enlarge Name: gu 006.jpg Size: 161 KB
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #706,148
  • Nov 10, 2022 2:13pm Nov 10, 2022 2:13pm
Current week range is 413 pips as at time of typing, last week's range was 485 pips... Buying limited to 1.17xx bears will come in any moment for first target of 1.1452...
Data + Stat + Risk/Emotions Management
  • #706,149
  • Nov 10, 2022 2:14pm Nov 10, 2022 2:14pm
Quoting BeeTogether
This MoFo just don’t wanna go down…
Thing is if equities (near the lows) stage a big rally....then GU will be around 1.3 really

So watch out
COT: The precious data ignored
  • #706,150
  • Nov 10, 2022 2:14pm Nov 10, 2022 2:14pm
Gang, the stakes are so high, even a 20pip retrace would be generous.
I'd be extremely careful shorting this. Anyone seen the monthly chart?

I have a few other GBP/XXX setting up for a bullish move tomorrow.
Cheers
  • #706,151
  • Nov 10, 2022 2:14pm Nov 10, 2022 2:14pm
Quoting Coreg2004
{quote} dantpm, I'm innocent... I only provide analysis of the position of the market atm to the best of my knowledge. Where is the market right now? What do we expect after 1-5 or ABC patterns? That's all. {image} {image}
I think it is becoming a bit more clear what the confusion is, not sure what caused it.
  • #706,152
  • Nov 10, 2022 2:15pm Nov 10, 2022 2:15pm
Quoting Coreg2004
{quote} dantpm, I'm innocent... I only provide analysis of the position of the market atm to the best of my knowledge. Where is the market right now? What do we expect after 1-5 or ABC patterns? That's all. {image} {image}
Sir, you are the most sincere.
  • #706,153
  • Nov 10, 2022 2:16pm Nov 10, 2022 2:16pm
Quoting Coreg2004
{quote} dantpm, I'm innocent... I only provide analysis of the position of the market atm to the best of my knowledge. Where is the market right now? What do we expect after 1-5 or ABC patterns? That's all. {image} {image}
Interesting enough to see similarity in your analysis with mine, even we are using different tools to analyse the same pairs.
I cannot say you copied me coz you've posted 6 mins ahead of mine....

Best Wishes
PAT
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #706,154
  • Nov 10, 2022 2:20pm Nov 10, 2022 2:20pm
Quoting Whale
They doing it again.. time to fold and cry in bed.
Please translate
  • #706,155
  • Nov 10, 2022 2:21pm Nov 10, 2022 2:21pm
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD_2022-11-10_15-16-01.png Size: 51 KB
  • #706,156
  • Nov 10, 2022 2:23pm Nov 10, 2022 2:23pm
Quoting kuroro001
{quote} Thing is if equities (near the lows) stage a big rally....then GU will be around 1.3 really So watch out
Why do you believe equities would stage a big rally?
  • #706,157
  • Nov 10, 2022 2:26pm Nov 10, 2022 2:26pm
Quoting nishantforex
Easy buys {image}
Target achieved... Now daily trend reversal in play...
  • #706,158
  • Nov 10, 2022 2:28pm Nov 10, 2022 2:28pm
Quoting dantpm
{quote} Why do you believe equities would stage a big rally?
I don't believe in it at all
Inflation near 8% and bulls calling for FED pivot, with more QE. They are just sick

But don't underestimate bear market rallies...they can bring 15/20% in the face before printing new lows again

Dollar bulls will suffer if so.

I still don't believe in this scenario yet. Dollar bulls got plenty of space left, same as equity bears.
COT: The precious data ignored
  • #706,159
  • Nov 10, 2022 2:30pm Nov 10, 2022 2:30pm
Quoting dempire1
{quote} I don't understand what is wrong with 400 pips draw down, please explain? 400 pips draw down and 10 lots is total of lets say roughly 20k. IF you have account worth of more than 250k it's 8% of total account. Now everyone's trading is different but 8% draw down is not that bad tbw. If you understand PA and liquidity then sometimes it's also fine 8% draw down.
Hi Dempire,

subject on drawdown.

Here's the Paradox.
Trading in general, attracts those of us that believe we can be successful at anything we put our mind to.
Some would say; those that consider themselves Winners.

So how does a Winner feel when s/he is 500Pips in the hole?
Does s/he feel like a Winner?
Depends: {not the garment although sometimes...}

Is the Account Up 1,000Pips overall?
Or, is the account now down 50Pips.

The toughest part for a Winning Trader to assimilate is the Fact that we will not Win them all.
That occasionally, even, they will be a Loser.

So, in fact, to be a Winner in this game, it is crucial that you learn how to handle the loser.
Handling it on the Money side is easy. At least the math is.
Handling it on the Mental side is a little more complex.

Math is a science and therefore absolute.
The Mental side has to accommodate for errors and accept it.

Try measuring our errors as a method of tracking our success rate.
Less errors this month v last month = progress.

Therefore, measure our results over the long haul
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #706,160
  • Nov 10, 2022 2:31pm Nov 10, 2022 2:31pm
USD / Try plummet 1000pips today.
Monthly looks juicy, I am in.
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