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Cable Update (GBPUSD)

  • #716,221
  • Dec 23, 2022 1:09pm Dec 23, 2022 1:09pm
Could have sworn there are 3 more trading hours to go

Is it just my own broker or the FX markets are now closed for the week??
  • #716,222
  • Dec 23, 2022 1:20pm Dec 23, 2022 1:20pm
Quoting dempire1
{quote} love it love it love it. Happy holidays Pat! {image}
Take Care Bro and enjoy your holiday
Merry Christmas to you.

Pls send me postcard from Estonia, do you have Snowmen and Snow White standing outside the house ?
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #716,223
  • Edited 2:13pm Dec 23, 2022 1:39pm | Edited 2:13pm
Quoting Pat Chiko
{quote} Take Care Bro and enjoy your holiday Merry Christmas to you. Pls send me postcard from Estonia, do you have Snowmen and Snow White standing outside the house ?
Will do. Send me your aadress

Last week we had huge storm, it was Monday. More than 10cm snow within couple of hours very very very beautiful(not so beautiful for people who got stuck)

Every day until this Monday we had alot of snow and around -10 degrees daily. White nights because of lots of snow. Very magical. I love this kind of winter.
But from Sunday we had +1-+3 degrees daily and now its dark and not beautiful unfortunately, very bad timing. Just before christmas so no snowman outside of house anymore. Only alot of water and ice

Merry christmas

I couldn't upload video idk how, if anyone know then let me know. I can post some storm pictures. But here is a picture of a christmas tree without decarations
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How to succeed in zero sum game?
  • #716,224
  • Dec 23, 2022 2:10pm Dec 23, 2022 2:10pm
Quoting xav
{quote} Which indicator is that?
It shows traders positions. It's contrarian indicator. Most people buy, we sell. If most people sell, we buy. It's simple. There are lots of them. Tons of option to use. :o)
  • #716,225
  • Dec 23, 2022 2:12pm Dec 23, 2022 2:12pm
Quoting Pat Chiko
{quote} GU - Real time live trades. WHY ? Reactive to Price Action. No guessing, just plain observation. All three trades based on Price Action. Chart attached. NOTE : Start analyzing with understanding of Price Structure, then go with the flow.{image}{image}
Nice analysis
What i need to read market like you?
  • #716,226
  • Edited 3:50pm Dec 23, 2022 2:55pm | Edited 3:50pm
APTN did work word perfect novelties happy FELIZ NAVIDAD

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easy listenin for the holidays KISS orban
  • #716,227
  • Dec 23, 2022 3:01pm Dec 23, 2022 3:01pm
For some reason, which is unexplainable to say the least, there is no news on Forex Factory that Kuroda is about to give a speech on monetary policy during holidays!?

Bank of Japan Governor Haruhiko Kuroda will hold a press conference about monetary policies in Tokyo.

December 25th/26th depending on where you live.. Listen to what Bob Iaccino has to say about it.. he says it could be market moving for days or weeks to come, yet no news on Forex Factory about this event at all. Wouldn't it be great that market suddenly makes a CHF-like move? Now it might or might not, but who knows.. God knows what to expect anymore with Yen. For those of you trading Yen, watch out for this event or don't trade Yen pairs.

Video: https://www.forexfactory.com/news/11...iaccino-122322

You have it on Home Page also under News / Latest Stories..

You still have one hour to put SL or whatever you need to do, because if something happens while market is "closed", you'll be in deep shit, or lucky..
  • #716,228
  • Dec 23, 2022 3:22pm Dec 23, 2022 3:22pm
Well Well Well

Last Comment Before I Had Off

Tables Have Turned It Seems

Next Week May See A Start of GBPUSD Up

And Consequently USDCAD and Others Down
Shekh In Desert
  • #716,229
  • Dec 23, 2022 3:34pm Dec 23, 2022 3:34pm
For the next week.

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Together we can be strongest
Vantage Return This Month: na
  • #716,230
  • Dec 24, 2022 12:15am Dec 24, 2022 12:15am
Quoting PatienceFx
{quote} using this indicator {file} if the bullish word changes to bearish, i will definitely short {image}
cable ended the week bearish
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  • #716,231
  • Dec 24, 2022 12:59am Dec 24, 2022 12:59am
Quoting Pat Chiko
{quote} GU - Real time live trades. WHY ? Reactive to Price Action. No guessing, just plain observation. All three trades based on Price Action. Chart attached. NOTE : Start analyzing with understanding of Price Structure, then go with the flow.{image}{image}
Hello sir,
I am thinking we will first go up to 1.2112 or slightly higher before sellers step in to take us down to 1.1832 (instead of the 1.1975 I was saying before).

Merry Christmas my friend and thanks for all the amazing charts and insight you gave us in this year 2022.
  • #716,232
  • Edited 1:45am Dec 24, 2022 1:08am | Edited 1:45am
Quoting SilentFather
{quote} It shows traders positions. It's contrarian indicator. Most people buy, we sell. If most people sell, we buy. It's simple. There are lots of them. Tons of option to use. :o)
Sir,
I noticed that the buy sentiment has increased to 63%.
There is a H4 channel (down sloping) within which price has been trading since we saw buy sentiment surpass the sell sentiment.
I recommend that one keeps selling at the upper extremely of the channel until we see the buy sentiment get to about 92% - 96% by this time, the current buyers will have been squeezed thin and one can start looking for buy entry.
Edit: the buy sentiment increased to 62% and not 63%
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  • #716,233
  • Dec 24, 2022 1:28am Dec 24, 2022 1:28am
Quoting pipcenturion
{quote} Sir, I noticed that the buy sentiment has increased to 63%. There is a H4 channel (down sloping) within which price has been trading since we saw buy sentiment surpass the sell sentiment. I recommend that one keeps selling at the upper extremely of the channel until we see the buy sentiment get to about 92% - 96% by this time, the current buyers will have been squeezed thin and one can start looking for buy entry. {image}
Its dangerous using sentiment of other traders to trade this market sir.

their sentiment are right just as any new trader can be lucky making few pips in there first trades, the most problem with the sentiment is that it can only be a clue of what to expect soon but not the current market direction.

For example the sentiment this year for GU was bullish since we got to 1.20 region there sentiment was right but the market blew them away when GU crashed to Historical low.
MY OPINION NOT FINANCIAL ADVISE
  • #716,234
  • Dec 24, 2022 1:43am Dec 24, 2022 1:43am
Quoting donfriday
{quote} Its dangerous using sentiment of other traders to trade this market sir. their sentiment are right just as any new trader can be lucky making few pips in there first trades, the most problem with the sentiment is that it can only be a clue of what to expect soon but not the current market direction. For example the sentiment this year for GU was bullish since we got to 1.20 region there sentiment was right but the market blew them away when GU crashed to Historical low.
Thanks so much sir. Your counsel is duly noted.
  • #716,235
  • Dec 24, 2022 1:44am Dec 24, 2022 1:44am
Quoting donfriday
{quote} Its dangerous using sentiment of other traders to trade this market sir. their sentiment are right just as any new trader can be lucky making few pips in there first trades, the most problem with the sentiment is that it can only be a clue of what to expect soon but not the current market direction. For example the sentiment this year for GU was bullish since we got to 1.20 region there sentiment was right but the market blew them away when GU crashed to Historical low.
trading is easy if you know when to trade
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  • #716,236
  • Dec 24, 2022 2:44am Dec 24, 2022 2:44am
Current Price: 1.2058

Haven't paid this much attention before, but is it normal that price freezes on a day before Xmas?

I mean, I know price still moves some even during weekends. But it's been stationary for hours, to my fair surprise.

Reason I'm following price action is simply because I have heavy open BUY positions. My forgettable broker chose to disable trades 3 hours before official market close. Normally, I opt against holding positions over weekends, but I was caught unawares about 20 pips in the negative at 1.2031 and I'm also very aware of the possibility of holiday wild swings. But my plan was just to scalp and close all positions just before normal market close.

So here I am, hunting down live quotes to get an idea if my capital gets wiped out before my cowardly broker re-enables trading.

It's going to be a tense albeit determinedly jolly Christmas for me. Fingers crossed
  • #716,237
  • Dec 24, 2022 3:17am Dec 24, 2022 3:17am
Quoting dantpm
{quote} I tend to look for a confirmation across the 15, 5, and 1 min time frames.
That's a good start, but more TFs yield better results.

In addition, did you think about the multiples between TFs and the distance between adjacent TFs???
1X5 = 5
5X3 = 15
15X2 =30
30X2 = 60 (H1)
60X4 = 240 (H4)
240X6 = 1440 (D1)

When there is no consistency related to the TFs that you view, wouldn't you expect higher cognitive load in interpreting what is there, resulting in higher probability of confusion and poor results?
To free Gazans of Hamas, use whatever it takes.
  • #716,238
  • Edited 5:42am Dec 24, 2022 3:40am | Edited 5:42am
Quoting bilal1947
Seeing a blank chart is like looking at the world without eyes, in this struggle using indicators acts as crutches which shows the way to the blind man, thanks to the indicators. Once you have spend time with indicates and used to of them ! guess what ! You have stunted your mind that is it no more growth towards reading the Price ! sorry i bring you to this ! the only savior left is risk management. Open yourself to Learning the price/charts with no crutches ! which needs study and practice. Dare Devil the blind Child scene: https://www.youtube.com/watch?v=zOBjYLwkRNE...
I go the opposite way. A data analyst looks at a plot and first sees what appears to be a nearly random placement with nothing useful to be seen. But then he applies some function such as a least squares regression line and plots it along with the raw data points. NOW he sees something interesting: the raw data is not evenly distributed around the regression line; the regression line has a positive slope that was not readily detectable in the raw plot; he has a mean value calculated; he has the slope value calculated; he has the median value calculated; he goes further and plots the residuals, and sees more interesting things that were not visible from the raw data plot alone. So what did the analyst do? He did some DATA SMOOTHING to get a more "compact" view. And to the surprise of many people that claim to not use indicators but only traditional bar charts, every one of the bars uses DATA SMOOTHING, with a COMPACTED view! The raw data (incoming ticks) is HIDDEN from your view inside the bar. Just as the data analyst got some calculated values to work with, the bars have calculated values such as open, high, low, close for you to work with.
[EDIT: The raw data are not actually hidden inside of the bar: If they were, it would be possible to retrieve and use them. The raw data are simply discarded.]

So, rather than using no indicators as you think you have done to perform your analysis, you have in reality used exactly one indicator--the bars. And if one indicator is able to help you "see something", perhaps additional indicators can help you to "see" some other things, just as the data analyst added the residuals plot and was able to "see" more useful information.

I have posted several times that I often turn off display of the price bars and use my indicators to get the "smoothed view" and determine if there is a trade setup. If yes, then I display the price bars just to refine the actual entry spot. In reality, in the long run, it is not even very important to refine the entry point because management of the trade is more important.
To free Gazans of Hamas, use whatever it takes.
  • #716,239
  • Dec 24, 2022 3:50am Dec 24, 2022 3:50am
Quoting donfriday
{quote} Its dangerous using sentiment of other traders to trade this market sir. their sentiment are right just as any new trader can be lucky making few pips in there first trades, the most problem with the sentiment is that it can only be a clue of what to expect soon but not the current market direction. For example the sentiment this year for GU was bullish since we got to 1.20 region there sentiment was right but the market blew them away when GU crashed to Historical low.
Exactly as you said Don. That's why we trade against the sentiment, not with sentiment. See this, when more people sell, trend is bullish. When more people buy, trend is bearish..

This simply works. You need to be on the other side. Except one time. When sentiment is changing from bullish to bearish and vice versa, you CAN go with sentiment most of the time. (Not always, but can be. I will not explain this today. You should look at chart with sentiment and see for yourself. You will be surprised) . Because people are right for a while.

P.S - there is more to it than just "omg sentiment is bullish i will open sell now". It's kinda fun. Also keep check on levels on the sentiment. Also bigger timeframe is better.
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  • #716,240
  • Dec 24, 2022 4:16am Dec 24, 2022 4:16am
Quoting PatienceFx
{quote} trading is easy if you know when to trade {image}
For people trading shorter TF's there should be a rule: no news, no trade. Without the news you'll end up getting price ranging 8/10 times. Trading Range seems easy, but it's not because you never know when that "S" or "R" will fail. Another thing is, you have to recognize the Range on time otherwise you'll lose money. What do I know anyway.. I am trading H4 or higher.. great thing I found when trading higher TF's is that I don't care at all of there is a Range or not.. I just wait patiently in the dark..
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