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Cable Update (GBPUSD)

  • #717,681
  • Jan 4, 2023 3:34am Jan 4, 2023 3:34am
Hey guys, so today test.

1. Opened positions just because of sentiment, completely without analysis.
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For GBP/USD, here's great strong level for sell position. 1.2109
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  • #717,682
  • Jan 4, 2023 3:36am Jan 4, 2023 3:36am
...you can see the perfect 5min bullish hidden div that developed at y/day's pullback ie a prev 1hr/4hr sw hi zone = prev res = pot rbs.

5min below.
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Trader with an Edge.
  • #717,683
  • Jan 4, 2023 3:42am Jan 4, 2023 3:42am
Hoping to get lucky.
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The market hides a perfect geometry.
  • #717,684
  • Jan 4, 2023 3:44am Jan 4, 2023 3:44am
Price formed liquidity on the 5 mins.. and we got in on the sell but it was ignored... which means we may head up...
Price again trying to form liquidity on the 30 mins... if this happen we may get a short signal but as it NOW... We should head up
My telegram: https://t.me/avidforex
  • #717,685
  • Jan 4, 2023 3:45am Jan 4, 2023 3:45am
Quoting BigNumbers
Price formed liquidity on the 5 mins.. and we got in on the sell but it was ignored... which means we may head up... Price again trying to form liquidity on the 30 mins... if this happen we may get a short signal but as it NOW... We should head up
Please don't scare me bro.
The market hides a perfect geometry.
  • #717,686
  • Jan 4, 2023 3:49am Jan 4, 2023 3:49am
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30 min Big Fundamental
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  • #717,687
  • Jan 4, 2023 3:52am Jan 4, 2023 3:52am
Quoting Pat Chiko
{quote} Most important knowledge to be good forex trader is to understand Support & Resistance. If you master this, you can understand any system (with or without indicator). Find your own method to trade, everyone trade differently. If may find my system is not suitable for you. Stay with one system, no system hopping. A different system every week. The rule seems to be "If you get three losing trades in a row, then your system is no good. Time to go find another one." This is so sad because so many traders fail to recognize two things. First,...
After spending years in learning forex systems and setups, I have learned that all the indicators follow the price, not the Price that follows them. Thats' why at current indicators can be decisive, they give sell signal and you open sell, while at candle close they give Buy signal and you stopped out. because these lines are drawn after the move...

This year I become successful (though still a student, might have learned 1-2% ), and my success started when I throw away all the indicators and started to observe Price Action with the help of Support and Resistance.

I have learned that all the Big fundamental moves stop at Support or Resistance. Every day price moves at support and resistance lines. That's the key to my success.

(though I am a New Bee yet) I fully support Pat CHIKO... Price Action with S/R is a long term winning strategy.

Respect for Pat CHIKO who took time to write this all for us. and also respect for those who share good knowledge that helps others.

Regards.
Kashif
  • #717,688
  • Jan 4, 2023 3:56am Jan 4, 2023 3:56am
Quoting tradexyz
{image} 30 min{image}
Just out of curiosity, have you ever published a key to your charts so that someone besides yourself would be able to look at them and understand what you are trying to communicate?
  • #717,689
  • Jan 4, 2023 3:58am Jan 4, 2023 3:58am
Quoting Indigo45
{quote} After spending years in learning forex systems and setups, I have learned that all the indicators follow the price, not the Price that follows them. Thats' why at current indicators can be decisive, they give sell signal and you open sell, while at candle close they give Buy signal and you stopped out. because these lines are drawn after the move... This year I become successful (though still a student, might have learned 1-2% ), and my success started when I throw away all the indicators and started to observe Price Action with the help...
Where do you believe the best information for understanding price action and support / resistance can be found?
  • #717,690
  • Jan 4, 2023 4:00am Jan 4, 2023 4:00am
1.20572 if price break below sell...
My telegram: https://t.me/avidforex
  • #717,691
  • Jan 4, 2023 4:14am Jan 4, 2023 4:14am
Quoting TheWolf
{quote} TP-ed, +20 pips.. Anyway, have another trade open on USD/JPY (Short).. Hourly.. {image}
Closed USD/JPY +1 pip. Waiting for the price now, to perhaps enter Short again.

Now is the perfect time for retracement to kick in before Buy continues on GBP/USD and Sell on USD/JPY..
  • #717,692
  • Jan 4, 2023 4:22am Jan 4, 2023 4:22am
Quoting dantpm
{quote} Where do you believe the best information for understanding price action and support / resistance can be found?
First of all learn to draw Support and Resistance on Daily/Weekly charts. Price stops at these support or resistance why? because most of the Big traders and Stops at S/R. Then you can draw H4 and H1 chart S/R lines. (I use different colors for different time frames learned from Mr. T721 credit goes to him Mr. Terry Taylor).

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After that you need to learn when price is breaking the SR, whether it is Breakout or False Breakout. Below images will help you to learn.
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These images will tell you price action, Remember, best strategy to enter is to enter at retest, until you have learned enough.
One thing more to mention, what I have learned (soon I will share in a New Thread) there is an expected daily Price move based on that day fundamental news. I determine and never follow the trend when that day expected move is complete rather I look for trend reversal signs (as shown in above chart pics), and trade in Reverse. I have analyzed data of months and years and found this very profitable.

Regards,
Kashif
  • #717,693
  • Jan 4, 2023 4:28am Jan 4, 2023 4:28am
Quoting dantpm
{quote} Just out of curiosity, have you ever published a key to your charts so that someone besides yourself would be able to look at them and understand what you are trying to communicate?
NO UBS Cross Asset Trading
  • #717,694
  • Jan 4, 2023 4:29am Jan 4, 2023 4:29am
Quoting Indigo45
{quote} First of all learn to draw Support and Resistance on Daily/Weekly charts. Price stops at these support or resistance why? because most of the Big traders and Stops at S/R. Then you can draw H4 and H1 chart S/R lines. (I use different colors for different time frames learned from Mr. T721 credit goes to him Mr. Terry Taylor). {image} After that you need to learn when price is breaking the SR, whether it is Breakout or False Breakout. Below images will help you to learn. {image}{image}{image}{image}{image}{image}{image}{image}{image} These...
This is GREAT STUFF! You explained very nicely where most of the traders fail.. they are too quick to enter the trade and not wait for the price to show them the real path. You HAVE TO WAIT for the retest of S or R and you have to wait for confirmation candle. EMOTIONS are good, but suck in Forex. Impulsive trading will drain your account in no time..
  • #717,695
  • Jan 4, 2023 4:35am Jan 4, 2023 4:35am
Quoting palpite
sell again 1.2080
trade closed - 1.2079
Together we can be strongest
Vantage Return This Month: -97.0%
  • #717,696
  • Jan 4, 2023 4:37am Jan 4, 2023 4:37am
Quoting Indigo45
{quote} First of all learn to draw Support and Resistance on Daily/Weekly charts. Price stops at these support or resistance why? because most of the Big traders and Stops at S/R. Then you can draw H4 and H1 chart S/R lines. (I use different colors for different time frames learned from Mr. T721 credit goes to him Mr. Terry Taylor). {image} After that you need to learn when price is breaking the SR, whether it is Breakout or False Breakout. Below images will help you to learn. {image}{image}{image}{image}{image}{image}{image}{image}{image} These...
Thanks!
Sitting here kicking myself because I had just identified the 1.206 area as a pull back area from where I expected the price to rise. Got in and out for small gains but largely remained chicken because of uncertainty. Missed the bounce. Didn't cost me anything but I would have preferred to be in on the bounce!
  • #717,697
  • Jan 4, 2023 4:44am Jan 4, 2023 4:44am
Quoting TheWolf
{quote} This is GREAT STUFF! You explained very nicely where most of the traders fail.. they are too quick to enter the trade and not wait for the price to show them the real path. You HAVE TO WAIT for the retest of S or R and you have to wait for confirmation candle. EMOTIONS are good, but suck in Forex. Impulsive trading will drain your account in no time..
Thanks for supporting my words. Patience is the key... very difficult to control emotions, but when you start control that is the point where you will become successful.

As we bargain for a price at local markets and if price is not what we need, we simply go for another shop.
but in forex market, we can't wait for price to come at our price where we plan to buy...
  • #717,698
  • Jan 4, 2023 4:48am Jan 4, 2023 4:48am
...bulls currently struggling somewhat at the prev 1hr/4hr sw hi zone coexistent with the prev 30min sw hi zone - that leads to current dly hi.

1hr below
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Trader with an Edge.
  • #717,699
  • Jan 4, 2023 4:48am Jan 4, 2023 4:48am
Quoting Indigo45
{quote} Thanks for supporting my words. Patience is the key... very difficult to control emotions, but when you start control that is the point where you will become successful. As we bargain for a price at local markets and if price is not what we need, we simply go for another shop. but in forex market, we can't wait for price to come at our price where we plan to buy...
Emotions are because of the big money, or big leverage involved

If you have 10k$, and losing 10 dollars out of 100 pips, is not the same of having 10k$ and losing 1k$ out of 100 pips

i have stopped caring how right/wrong i am since i lowered all the leverage to barely nothing
COT: The precious data ignored
  • #717,700
  • Jan 4, 2023 4:52am Jan 4, 2023 4:52am
Price should pull back from here. I'm relying on the 45 min LQ
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My telegram: https://t.me/avidforex
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