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Cable Update (GBP/USD) without Idiots 23 replies

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Attachments: Cable Update (GBPUSD)
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Cable Update (GBPUSD)

Quoting Jolita
{quote} Due to New Years day beeing on Sunday, none working day rolled into today, Monday. All this week many train strikes announced, majority will be working from home this week. Happy New Year! Still having lots of snow? How is Christmas tree in Vilnius this year?
Hi.

There is no snow in Vilnius anymore. The temperature is +5C. So we can enjoy the warm weather. It is funny, but i still havent seen the Christmas tree. Do you guys have one in your city? How is UK doing? Any changes in economics? Are you smarter than old Europe and will prevent your country from economical recession?

Stay safe
Anyone here who was saying we will make new highs when sentiment was buying? I told you guys to always look for doing the opposite of majority. By the way 1.2080 was cool level to sell. Specially on 5m chart you could sell GBPUSD on the second touch of 1.2084 (small high)

SF
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Quoting TheWolf
Since using lower TF's for identifying trend is just not working at all, here are Daily, Weekly and Monthly Charts. From the looks of it, Big Short has just started.. Longterm Outlook is Bearish. (This is for those who wants to know the future of this pair).. problem with the future is, you will have to wait and wait and wait. Hence why noone uses anything above Daily Chart even though they are perhaps even easier to trade. {image} {image} {image}
The "trend" moves from TF-to-TF, so using multiple TFs can help guide your decision for direction to place orders. Just keep in mind that if you spot a trend on a larger TF, EVERY TF that is smaller than the trend TF is simply showing you how price is moving INSIDE of the trend TF. So despite what gyrations you see on the smaller TFs, the trade direction bias is not changed until you see some evidence that confirms that the trend TF has changed direction.

And you WILL see "trends" develop on the smaller TFs that are both with the larger TF trend direction and against it: This is evidence of the fractal-like nature of financial time series. You can read in this post about the smaller TFs needing to go down first today, and then higher TFs expected to go up. So which direction is the trend then?? If smaller TFs need to go down and there are selling opportunities, then the trend must be down. But how can that be if the larger TFs are trending up? Because "trend" and trade direction bias must be assessed from higher TFs to lower TFs, with the lower TFs showing the price moving INSIDE of of the higher TF.
The markets are speaking to you. Do you know their language? I M T
i removed the sl
added position at 1.19000
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Must see!! the drunkenness that the English have! They must have the Ramaruya calendar, yes, the Indian calendar!!! Every day is a new movie!!! no one gets bored with these .............(put the adjective you want), anyone who thinks this is fine, please!! tell me a story, it sure is more believable!!!
Quoting sk966
Lets see {image} {image} {image}
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Is it buy back time ??
Quoting elbert3
Is it buy back time ??
you mean its time to buy ?
RedcaT 3003
FTMO 10K - 2 (passed ) All Time Return: 6.8%
Quoting elbert3
Is it buy back time ??
No, I would recommend looking for sell on highs. Watching price doing its job and when sell signal will appear you can go for it. Sentiment is trying to buy for more than a week. And it's all wrong. I was saying that for at least a week. Nobody was listening. Price will go up, sure why not, but main thing people should do is to sell GBPUSD when good signal appears. Why trying to buy when we clearly have bearish market with only retracements up?

And I'm not saying no one can't buy.. it's just bad idea if you get it wrong. I do buy if I want, but remember we should be mainly selling


SF
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my previous long entry was bad because i didn't
get conformation from all indi's
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Quoting DrDave
{quote} The "trend" moves from TF-to-TF, so using multiple TFs can help guide your decision for direction to place orders. Just keep in mind that if you spot a trend on a larger TF, EVERY TF that is smaller than the trend TF is simply showing you how price is moving INSIDE of the trend TF. So despite what gyrations you see on the smaller TFs, the trade direction bias is not changed until you see some evidence that confirms that the trend TF has changed direction. And you WILL see "trends" develop on the smaller TFs that are both with the larger...
From higher to lower, exactly.. only this makes sense.

The thing about those trends on lower TF's, I mean how trustworthy is a trend on a 5 minute chart? Higher the TF, stronger the trend.
Also the moment you identify the trend on lower TF's like 5-minute, the trend is already over probably.. not useful for trading purpose at all.

While I understand what you're saying, I don't see the need to identify the trend on the lower TF's. Just my personal opinion. I think smaller TF's are just noise as many traders say.

Pro traders say that Daily TF is the best TF to trade on and I agree. Not too long, but long enough to provide you plenty of information and time to think about the trade.

What I think: M1 and M5 is horrible along with M15. Hardest TF's to trade on by far.. if 5% of traders are making money, then 0.001% are using these TF's and making money.
M30 acceptable, but still not that great. H1 the same.
H4 is just weird. Anomaly as I like to say. It creates a total confusion when looking at the H4 and Daily. One doesn't go with the other that well.
Daily the best. Weekly just too long and acts like H4, weird, and Monthly is the TF to identify the trend. Monthly and Daily are both great for trend. Daily is best for identifying where the trend will stop and rest for a little bit or resume..

These are just my opinions..

M1 Horrible
M5 Horrible
M15 Horrible
M30 Okay
H1 Okay
H4 Weird
D The Best
W Weird
M Second Best

Remember! This is my opinion only and how I see different TF's. If someone is actually making money on M1, then M1 is the best TF for them..
before.and after.
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Quoting dantpm
People trying to jump in long so MM's take everything short?
Might be filling long orders, important to keep in mind that.... today is the 1st day of the week, month, and year.
Always learning
While waiting for GU entries, sideline to UJ. No more excuses this 2023. If price will not come to me, so be it.
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UK S&P Mfg PMI
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I come from the future.
Quoting TheWolf
{quote} From higher to lower, exactly.. only this makes sense. The thing about those trends on lower TF's, I mean how trustworthy is a trend on a 5 minute chart? Higher the TF, stronger the trend. Also the moment you identify the trend on lower TF's like 5-minute, the trend is already over probably.. not useful for trading purpose at all. While I understand what you're saying, I don't see the need to identify the trend on the lower TF's. Just my personal opinion. I think smaller TF's are just noise as many traders say. Pro traders say that Daily...
Its on system build. One of my system 1 Min only for GU. It give sell me at 1.2055 and out @ 1.1925 and SL 1.2075.
Probably 1970/75/80 then will test lows again.
Intraday only.
Exactly 1.19000 LoL..

Just as if there is something in the background moving the price and not supply and demand..
CON$PIRACY.
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Quoting TheWolf
{quote} From higher to lower, exactly.. only this makes sense. The thing about those trends on lower TF's, I mean how trustworthy is a trend on a 5 minute chart? Higher the TF, stronger the trend. Also the moment you identify the trend on lower TF's like 5-minute, the trend is already over probably.. not useful for trading purpose at all. While I understand what you're saying, I don't see the need to identify the trend on the lower TF's. Just my personal opinion. I think smaller TF's are just noise as many traders say. Pro traders say that Daily...
the trend can take hold in any TF, for example you enter M5 because you think the trend has started, but it is possible that only h1 will be a bullish candle. and the trend stopped..


this way of entering position does not work.
Quoting tiborf71
{quote} the trend can take hold in any TF, for example you enter M5 because you think the trend has started, but it is possible that only h1 will be a bullish candle. and the trend stopped.. this way of entering position does not work.
Trader One: LOOK! THE TREND! (looking at the M1 Chart)
Trader Two: Where!?

Trader One: Awww.. it's gone..

LoL
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