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Cable Update (GBPUSD)

  • #717,641
  • Jan 4, 2023 1:53am Jan 4, 2023 1:53am
Quoting Yngwie
1.2149
Rocket exactly on the 50 fibs and break 61.8 that's why fly high
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Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #717,642
  • Jan 4, 2023 1:55am Jan 4, 2023 1:55am
Quoting Robinhood1
{quote} Just lucky {image}
depends on the TL and the TL-break....
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  • #717,643
  • Jan 4, 2023 2:06am Jan 4, 2023 2:06am
Quoting Jolita
{quote} Guess could be worse than it is everywhere else. In UK it is a disaster, future for yougsters is doomed. Bloomsberg article explains steps taken to prevent inflation from rising (shared a page back).
Thank you, I will get a look on it
  • #717,644
  • Jan 4, 2023 2:15am Jan 4, 2023 2:15am
Any idea why the pound is going to the moon?
  • #717,645
  • Jan 4, 2023 2:17am Jan 4, 2023 2:17am
Quoting TheWolf
{quote} Correctly identifying where R and S zones are is crucial. Not messing this up is the most important thing. Then patience.. It's hard when you don't know what to look, not as hard when you know what to look for. Takes time to learn it, but it's quite effective. New traders lose money because they are trading too early or too late. Trading in the zone between R and S is always bad and isn't recommended. Also trading way above R or below S is also not good. You have to be patient and act when you need to act.
If one is hard working. Forex will take a minimum of 5years with at least 15 hours of daily practice during these periods or we can choose to continue playing with indicators.
Our Forex journey begins when indicators have thought us how to look at the naked chart. If you make money trading with indicators is just a matter of time you’ll loose the money again and the cycle continues; make money lose more money.
Don’t get me wrong indictors are good, if not for indicators I wouldn’t have known anything in Forex but they are just gate way to learning Forex.

A simple moving average can teach you a lot of price actions likewise other indicators. The moving average thought me where liquidity are sitting in the market. My advise is— whenever you place an indicator in your chart and it gives a signal, look around the candle sticks action and why the indicator gave a signal at that particular point in time. That’s how I got to understand price actions.

But forex is too difficult, if I had known that it was this difficult, I would have opt for something else.


Good Luck.
My telegram: https://t.me/avidforex
  • #717,646
  • Jan 4, 2023 2:17am Jan 4, 2023 2:17am
Quoting Waveskierrob
{quote} Added SHORT 11988 no sl no tp
Another SHORT added 12085 no.sl no tp
  • #717,647
  • Jan 4, 2023 2:17am Jan 4, 2023 2:17am
Short @ Fib Levels
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!! Radha Radha !!
  • #717,648
  • Jan 4, 2023 2:19am Jan 4, 2023 2:19am
Quoting TheWolf
{quote} Correctly identifying where R and S zones are is crucial. Not messing this up is the most important thing. Then patience.. It's hard when you don't know what to look, not as hard when you know what to look for. Takes time to learn it, but it's quite effective. New traders lose money because they are trading too early or too late. Trading in the zone between R and S is always bad and isn't recommended. Also trading way above R or below S is also not good. You have to be patient and act when you need to act.
yes, the theory sounds very nice.

as always.
  • #717,649
  • Jan 4, 2023 2:19am Jan 4, 2023 2:19am
Quoting MrFanciful
Any idea why the pound is going to the moon?
Just watch the price. Where is R and S? Which pattern is forming? We have another leg up in the end on Hourly Chart.

To have better chance of predicting the price, it's useful to look at other pairs including USD. For example go and look at 15M chart on EUR/USD and you'll see there that price conquered the R and established a new temporary S. The price was either going to make an M pattern or provide another leg up on Hourly Chart today. Now, this leg is probably going to reach another R (R2).

Identify R and S before anything else, then just observe..
  • #717,650
  • Jan 4, 2023 2:21am Jan 4, 2023 2:21am
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yes yes yes
  • #717,651
  • Jan 4, 2023 2:22am Jan 4, 2023 2:22am
Quoting tiborf71
{quote} yes, the theory sounds very nice. as always.
This theory works and is what many traders live by. Most popular case being Pat Chiko. Learn from the best, the proper way.

Takes time of course..
Theory is a theory until it's tried in practice. Then, it's a system.
  • #717,652
  • Jan 4, 2023 2:28am Jan 4, 2023 2:28am
Quoting TheWolf
{quote} This theory works and is what many traders live by. Most popular case being Pat Chiko. Learn from the best, the proper way. Takes time of course.. Theory is a theory until it's tried in practice. Then, it's a system.
I am not interested in trading based on S/R.
I'm sorry.
  • #717,653
  • Jan 4, 2023 2:30am Jan 4, 2023 2:30am
Quoting TheWolf
{quote} Just watch the price. Where is R and S? Which pattern is forming? We have another leg up in the end on Hourly Chart. To have better chance of predicting the price, it's useful to look at other pairs including USD. For example go and look at 15M chart on EUR/USD and you'll see there that price conquered the R and established a new temporary S. The price was either going to make an M pattern or provide another leg up on Hourly Chart today. Now, this leg is probably going to reach another R (R2). Identify R and S before anything else, then...
That's pretty much how I do it. I always have the DXY on a chart which has almost made it back to support.
  • #717,654
  • Jan 4, 2023 2:31am Jan 4, 2023 2:31am
Quoting tiborf71
{quote} I am not interested in trading based on S/R. I'm sorry.
Look, if you're making money flipping the coin (WATCHING AT YOU WAVESKI!! ), then flip the coin man. Whatever works is best!
  • #717,655
  • Jan 4, 2023 2:31am Jan 4, 2023 2:31am
sell again 1.2080
Together we can be strongest
Vantage Return This Month: na
  • #717,656
  • Jan 4, 2023 2:38am Jan 4, 2023 2:38am
Multiple long tails 15 min candle on dxy.. is this the point of reversal??trying a short here for 20-30 pips lets see…
Extreme gut feeling trader
  • #717,657
  • Jan 4, 2023 2:38am Jan 4, 2023 2:38am
Shekhs Secret

https://mega.nz/file/QgJiAAbZ#_oDzXV...BnHnICbPWzaUvw

HAHA
Shekh In Desert
  • #717,658
  • Jan 4, 2023 2:39am Jan 4, 2023 2:39am
Quoting TheWolf
{quote} Look, if you're making money flipping the coin (WATCHING AT YOU WAVESKI!! ), then flip the coin man. Whatever works is best!
do you really think that there is nothing else besides S/R strategy?
if you use this, to your health.
  • #717,659
  • Jan 4, 2023 2:40am Jan 4, 2023 2:40am
TPD

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Thats Nearly Around 100 Pips
Shekh In Desert
  • #717,660
  • Jan 4, 2023 2:41am Jan 4, 2023 2:41am
Quoting TheWolf
{quote} Look, if you're making money flipping the coin (WATCHING AT YOU WAVESKI!! ), then flip the coin man. Whatever works is best!
Whether they are making money or not, it is their trading, their money, their strategies!
You do you. I'll do me. There are a bunch of us that have similar approaches and thought processes who share ideas and respect the ideas of others even if we don't follow or subscribe to them!
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