Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

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#717,461
Jan 3, 2023 4:23am Jan 3, 2023 4:23am

DrDave
| Membership Revoked | Joined Jun 2011 | 9,885 Posts

Quoting tiborf71

Disliked

{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.

Ignored

you enter M5 because you think the trend has started

And right there is a very big reason for an entry to end up being in the wrong direction--thinking/guessing a trend change instead of FOLLOWING after it has changed.

To free Gazans of Hamas, use whatever it takes.

#717,462
Jan 3, 2023 4:23am Jan 3, 2023 4:23am

TheWolf
Joined May 2022 | Status: I'm Done | 2,577 Posts

Quoting DrDave

Disliked

{quote} I think the main reason that few people can trade small TFs profitably is because they fail to scale-down the price objectives as they scale down the TF size, which is also related to scaling of the vertical movement of the price bars. That is, if you can reliably take 50 pips in a D1 swing, do you see price march along a straight path to the TP, or did it churn up-and-down on the way? If you are entering a swing on M5, it is HIGHLY unusual to be a swing of 50pips, but more likely to be a swing of 5-10 pips and OFTEN price WILL appear to...

Ignored

I think that is true yeah.. traders expecting way too much of the signal or pattern on lower TF's. The higher the TF the stronger the move. This is weird. We should be all trading higher TF's, because they're miles better and clearer. However, I think it's psychological. I think traders refuse higher TF's because of fear of big numbers. Of course, you just lower the pip size and that's it..

Great comment Dave! You wrote a lot of useful stuff here and I like the way you explained it. Okay..

"It is helpful to consider that EVERY retracement being made to the larger TF is an ATTEMPT to reverse that larger TF. The smaller the TF making the attempt, the less likely it is is to succeed. But the ONLY way that the larger TF can finally reverse is if EVERY TF that is smaller is also in that reversed direction. This is REQUIRED because every TF smaller than that larger TF IS that larger TF! Smaller TFs are nothing more than "zoomed-in" views of what comprises the larger TF." - this is great!

Also the ship analogy is awesome.

HOWEVER, now that we know what we know, how on Earth do you decide when to enter the trade? You enter when you see a trend started to form on Minute TF and then go from there? I don't think so. Monthly? Hardly.. While all of this sounds amazing really, where on Earth should one start? What has to become true for you to enter the trade? Probably multiple TF's saying the same? Minute, M5, M15, M30, H1 and when H4 confirms you enter for example? When do you get out of the trade? When M15 isn't trending any longer, perhaps M30?

Thanks!

#717,463
Jan 3, 2023 4:34am Jan 3, 2023 4:34am

SilentFather
Joined Jul 2018 | Status: Hello | 798 Posts

Quoting TheWolf

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{quote} So, there is always something somewhere.. no double bottom on Hourly, but there was on M5 for example. It's interesting how the price ALWAYS has to retest the R or S before "running" away.. This is nice actually! This could prove like a great method on strong R and S levels. You identify S or R and then just wait as you say for price to slow down and create a pattern like double top or bottom or whatever it is.. Nice!

Ignored

You got it right

nice

Exactly! Plus the best of all is, that when price will not move away immediately, your trade is mostly wrong. So you don't need 10 pips TP and 10 pips SL. It's nonsense.

If we look at last GBPUSD move... It's always better to sell or buy on the wick. So you can keep that small SL. It appears daily at least 15 times. Only problem is to sit & watch it. I can't automate this.

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#717,464
Jan 3, 2023 4:53am Jan 3, 2023 4:53am

Headland
Joined Apr 2020 | Status: Trader | 8,807 Posts

...bottom of that prev horizontal 4hr range (that broke dramatically to the downside after an attempt to get north of the prev 1hr/4hr sw hi zone that extends to asian/current dly hi) might be difficult for bulls to get upside of, ie potential sbr, on any pullback attempt (s?) to it?

4hr below

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Trader with an Edge.

#717,465
Jan 3, 2023 4:54am Jan 3, 2023 4:54am

ToSatisfy
| Membership Revoked | Joined Nov 2022 | 304 Posts

Quoting ToSatisfy

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{quote} I am reaching 1.05000 Eurusd anybody with me or what? Reaching Usdcad 1.37000 anybody off me Haha Gbp already TPD More is More

Ignored

AAH Here is the outlook of trades

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Waiting Huge TPs

Shekh In Desert

#717,466
Jan 3, 2023 4:57am Jan 3, 2023 4:57am

bilal1947
Joined Apr 2020 | Status: Offline | 3,298 Posts

Quoting bilal1947

Disliked

DXY Chart: Q: where are next old highs/lows to be taken? {image} and Dxy follow the yields: so the yields are going higher but DXY hunting lows so expecting to go higher too. {image}

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before

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after

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and GU accordingly.

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"Exchange of hands"

#717,467
Jan 3, 2023 5:01am Jan 3, 2023 5:01am

Moty
Joined Dec 2017 | Status: Trader | 30,688 Posts

Quoting navk

Disliked

Probably 1970/75/80 then will test lows again.

Ignored

yes !
1.18999 will hold

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yes yes yes

#717,468
Jan 3, 2023 5:02am Jan 3, 2023 5:02am

tradexyz
| Membership Revoked | Joined Nov 2022 | 1,789 Posts

Quoting DrDave

Disliked

{quote} you enter M5 because you think the trend has started And right there is a very big reason for an entry to end up being in the wrong direction--thinking/guessing a trend change instead of FOLLOWING after it has changed.

Ignored

103300 Results "get das bild burgers" hotel california call a towtruck cheka

#717,469
Jan 3, 2023 5:08am Jan 3, 2023 5:08am

Pat Chiko
| Joined Dec 2008 | Status: MMA Pro Wrestler | 17,549 Posts

Quoting dantpm

Disliked

{quote} You also had a 2nd target of 1.84, is that still valid (after a pull back)?

Ignored

Hi Dan,

GU

I'm looking at 1.18 demand zone for correction phase.
There's liquid in that zone.

Partial TP around that level

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I come from the future.

Karen X Mas Bonus 2025 All Time Profit: $15,104

#717,470
Jan 3, 2023 5:12am Jan 3, 2023 5:12am

ToSatisfy
| Membership Revoked | Joined Nov 2022 | 304 Posts

Quoting ToSatisfy

Disliked

Alright Things are setting up now nicely I Believe Table Have Turned I have taken off the Sells from USDCAD AND I am in with Buys Targetting Currently 1.37000 Will show the Chart Later I have also taken off the Buys from EURUSD AND I am in with Sells Targetting Currently 1.05000 and Below Will Update Chart Later GBPUSD Long term is yet to hit my SL but its in slight very slight +ve If it does I am in with Sells there that is at 1.20296 Targetting 1.19596 Will Update Chart Later GBPUSD Short term I am already in with Sell TP 1.20092 Screenshot for...

Ignored

Here are the graph and chart

EURUSD

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Target Green Line 1.05000

USDCAD

Target Green Line 1.37000

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How the Tables have turned

Shekh In Desert

#717,471
Jan 3, 2023 5:14am Jan 3, 2023 5:14am

shakmoney
| Joined Jan 2012 | Status: Trader | 766 Posts

Quoting Pat Chiko

Disliked

{quote} Hi Dan, GU I'm looking at 1.18 demand zone for correction phase. There's liquid in that zone. Partial TP around that level {image}

Ignored

do you expect a pullback to 1.20 before dropping again

#717,472
Jan 3, 2023 5:21am Jan 3, 2023 5:21am

navk
Joined Oct 2010 | Status: Trader | 21,479 Posts

Quoting shakmoney

Disliked

{quote} do you expect a pullback to 1.20 before dropping again

Ignored

Your stop MUST be 1901/00

Expectin a pull back by 60 to 90 pips today

Intraday only.

#717,473
Jan 3, 2023 5:24am Jan 3, 2023 5:24am

Pat Chiko
| Joined Dec 2008 | Status: MMA Pro Wrestler | 17,549 Posts

Quoting TheWolf

Disliked

{quote} Is there anything new we can hear tommorow from the Fed? I think we won't hear anything new, you?

Ignored

Single news will only have knee jerk reaction to price.

Lets look at what on this week. Bigger picture of macro.
Will be a busy week in the US with center stage taken by labour market report, FOMC meeting minutes, ISM manufacturing and services PMI, foreign trade, factory orders, and Jolts Job Openings.

Jay is trying to fight inflation hard ( no more soft landing).
The unemployment rate is 3.7%, initial jobless claims at historic lows and JOLTS/Indeed numbers show a massive overhang in job openings.
Most reads of service sector show wages on the rise.
How Jay going to tame 7-8% inflation with 4% rates. ?

Wednesday (FOMC) & Friday (NFP) should be fun.
We can only guess what Jay going to do with slowing down of interest rates.

The next COT will be 6th Jan.
The last COT was 30 Dec, we use that ATM to projct money flow and non commercial net position.

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I come from the future.

Karen X Mas Bonus 2025 All Time Profit: $15,104

#717,474
Jan 3, 2023 5:36am Jan 3, 2023 5:36am

Moty
Joined Dec 2017 | Status: Trader | 30,688 Posts

500 $ from 112 $ in 3 trading day and second comeback from 2 digits floating loss today

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yes yes yes

#717,475
Jan 3, 2023 5:43am Jan 3, 2023 5:43am

josip
Joined Dec 2015 | Status: Trader | 2,290 Posts

usindex

the pound seems to have found its bottom 4 today

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Trendlines H1,H4, SMC

#717,476
Jan 3, 2023 5:49am Jan 3, 2023 5:49am

BeeTogether
Joined Oct 2020 | Status: Trader | 14,017 Posts

Happy new year folks. The euro data really kicked off today. Surprising that the effect on GU was so severe. Let’s see if we can see 120-121 in the next few days.

Insane in the Brain..