Interesting to see. One is 5 min chart since last night, and the other is 4hr since the last big drop.
I have no clue where it's going
Cable Update (GBPUSD)
- #716,062
- Dec 23, 2022 4:23am Dec 23, 2022 4:23am
- | Commercial User | Joined Jul 2021 | 3,280 Posts
CADJPY LONG
My telegram: https://t.me/avidforex
- #716,063
- Dec 23, 2022 4:24am Dec 23, 2022 4:24am
- Joined Apr 2020 | Status: Trader | 8,806 Posts
Trader with an Edge.
- #716,064
- Dec 23, 2022 4:26am Dec 23, 2022 4:26am
- | Joined Dec 2008 | Status: MMA Pro Wrestler | 17,549 Posts
I come from the future.
Karen X Mas Bonus 2025 All Time Profit:
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- #716,065
- Dec 23, 2022 4:33am Dec 23, 2022 4:33am
{quote} Sorry to ask you my Newbie question. How does Average daily range measure if price has reached its limit. I donno how to use it. Can you give me some brief insight how averages measure as price at times is volatile and at times it just calm. I suppose Average daily range measure the past week or days data, how do we know it will measure future movement ?. BTW, what setting do you use for this tools ?. Thank you
Lou Vincii Code
- #716,066
- Dec 23, 2022 4:36am Dec 23, 2022 4:36am
- Joined Apr 2020 | Status: Trader | 8,806 Posts
Trader with an Edge.
- #716,067
- Dec 23, 2022 4:38am Dec 23, 2022 4:38am
- | Joined Dec 2008 | Status: MMA Pro Wrestler | 17,549 Posts
{quote} Newbie
You're rich man....
Thank you
I come from the future.
Karen X Mas Bonus 2025 All Time Profit:
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!! Radha Radha !!- #716,069
- Dec 23, 2022 4:44am Dec 23, 2022 4:44am
- | Joined Dec 2008 | Status: MMA Pro Wrestler | 17,549 Posts
...this prev near-term 1hr/4hr descending rangy channel has proved an obstacle for bulls so they really need to get upside of it, certainly above thurs's hi anyways, to establish any kind of bullish tone on this 4hr t/f. Of course, the channel may prevail, ie a pullback from a LL and then continue south? 4hr below {image}
I like you sentence " obstacle for bulls" and giving me some hope my short trades will survive.......lets pray on that.
BTW,
Today, US PCE inflation data is due today in few hours.
The forecast is for core PCE to have increased +0.2% m/m and for the YoY figure to print +4.7% (prev. 5.0%)
Important data to reaffirm that inflation has peaked.
Looking forward seeing your analysis and chart everyday.
Merry Christmas to you Bro, and enjoy the break...
I come from the future.
Karen X Mas Bonus 2025 All Time Profit:
$15,104
- #716,070
- Dec 23, 2022 4:45am Dec 23, 2022 4:45am
- Joined Oct 2020 | Status: Trader | 14,051 Posts | Online Now
Insane in the Brain..
{quote} Sorry to ask you my Newbie question. How does Average daily range measure if price has reached its limit. I donno how to use it. Can you give me some brief insight how averages measure as price at times is volatile and at times it just calm. I suppose Average daily range measure the past week or days data, how do we know it will measure future movement ?. BTW, what setting do you use for this tools ?. Thank you
Sorry if explained badly. Hope you got me.
Always try to buy on low and sell on high. Lower & higher the better. If you insert 10 pips round numbers on the chart, you'll see it. :o) I may create new thread about this. If anyone is interested, let me know. We can use small stops that way with high amount of lots.
SF
- #716,072
- Dec 23, 2022 4:47am Dec 23, 2022 4:47am
{quote} Sorry to ask you my Newbie question. How does Average daily range measure if price has reached its limit. I donno how to use it. Can you give me some brief insight how averages measure as price at times is volatile and at times it just calm. I suppose Average daily range measure the past week or days data, how do we know it will measure future movement ?. BTW, what setting do you use for this tools ?. Thank you
What I have learned in this year. (I work on EU only)
There is always a certain Pips move based on News. If News are "CPI, NFP, FOMC Meeting or Presser, PPI, ISM ***" There is a defined Price Move. How I calculate on the basis of history;
- Usual Daily Price move (EU) is 80 Pips
- CPI Strong Positive/Negative Data daily move is 150-200 Pips (If data is in the favor of Federal Price move extends other wise price reverses upto 50% or move and always honors Market Sentiment).
- If ISM or PCE type data Price move is 100-120 Pips.
This is how I trade, show me the history, where price is not honored rules of Big economies. This is happening every day.
every day when I open my laptop I first see the news, I see historical News Data then I define an expected daily price range. I never follow the trend if daily range is met, I go against the trend.
(My other rule I don't use stop loss, rather I use Stop Order. My win loss ration is more than 3:1. so if stop order triggers, trade is hedged. On next confirmed move, I close the Profit trade and open another trade in right direction. My losing trade closes at BE and My new position gives me some pips) This strategy I learned from my cousin who is professional trader since 2008.
Below image I use to define expected daily move and I am on right side 95% of the times. I said 95%...
- #716,073
- Dec 23, 2022 4:47am Dec 23, 2022 4:47am
- Joined Apr 2020 | Status: Trader | 8,806 Posts
{quote} Thanks Headland for your very update informative chart to keep me aware what price is doing.
Trader with an Edge.
- #716,074
- Dec 23, 2022 4:47am Dec 23, 2022 4:47am
- | Membership Revoked | Joined Jun 2011 | 9,885 Posts
To free Gazans of Hamas, use whatever it takes.
- #716,078
- Dec 23, 2022 4:54am Dec 23, 2022 4:54am
- | Joined Dec 2008 | Status: MMA Pro Wrestler | 17,549 Posts
I come from the future.
Karen X Mas Bonus 2025 All Time Profit:
$15,104
- #716,079
- Dec 23, 2022 4:55am Dec 23, 2022 4:55am
- | Commercial User | Joined Jul 2021 | 3,280 Posts
I didn’t see the dsc line I just figure it out now. I hope price breaks the dsc… if it does then we shall get to drl.
My telegram: https://t.me/avidforex
- #716,080
- Dec 23, 2022 5:01am Dec 23, 2022 5:01am
- Joined Apr 2020 | Status: Offline | 3,298 Posts
"Exchange of hands"