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Cable Update (GBPUSD)

  • #719,081
  • Jan 8, 2023 3:04pm Jan 8, 2023 3:04pm
so what is the plan for tomorrow? will we sell hard as hell?

  • #719,082
  • Jan 8, 2023 3:18pm Jan 8, 2023 3:18pm
Market will open @ 1.20758
  • #719,083
  • Jan 8, 2023 3:18pm Jan 8, 2023 3:18pm
Quoting genadi
so what is the plan for tomorrow? will we sell hard as hell?
Forex rule #1
Don't anticipate the market, follow whatever the market gives you.
Rule #1 was demonstrated (?), reinforced (?), confirmed (?) Friday where lots of people lost money by not following rule #1!
  • #719,084
  • Jan 8, 2023 3:32pm Jan 8, 2023 3:32pm
Quoting genadi
so what is the plan for tomorrow? will we sell hard as hell?
Because of directional "conflict of interest", between D1 and TFs below H4, from the start, I will be monitoring M5 and smaller TFs to see which direction is initially favored.
To free Gazans of Hamas, use whatever it takes.
  • #719,085
  • Jan 8, 2023 3:45pm Jan 8, 2023 3:45pm
Quoting DrDave
{quote}Because of directional "conflict of interest", between D1 and TFs below H4, from the start, I will be monitoring M5 and smaller TFs to see which direction is initially favored.
While I am not 100% certain, I am more than 50% sure that you don't trade in time frames less than 1 hr from what you have said!
  • #719,086
  • Jan 8, 2023 3:48pm Jan 8, 2023 3:48pm
Quoting dantpm
{quote} Would you please direct me to where I could learn more about your VAP strategy?
Sir,
there is no place you can learn about VAP.
I created the method from scratch.
  • #719,087
  • Jan 8, 2023 3:49pm Jan 8, 2023 3:49pm
The bullish drive of GBPUSD market operation towards the 1.22880/1.24570 horizontal resistance zone (purple) six weeks ago met some bearish challenge. On the daily time frame, GBPUSD price action went sideways after a bearish pushback from a bullish retest of the 1.22880/1.24570 horizontal resistance zone (purple) seen on the weekly time frame. Meanwhile, last Friday saw a bullish attempt to relaunch another northward move. Such a move may lead to a northward market engineering to an area of value before a southward rotation.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDDaily.png Size: 13 KB
Do your homework, follow the footprints of smart money
  • #719,088
  • Jan 8, 2023 3:59pm Jan 8, 2023 3:59pm
I think this is to be expected.
Attached Image (click to enlarge)
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  • #719,089
  • Jan 8, 2023 4:00pm Jan 8, 2023 4:00pm
I think friday's low will break in US session. US got the Yearly high. Will go for low before any trend north.
  • #719,090
  • Jan 8, 2023 4:03pm Jan 8, 2023 4:03pm
Quoting dantpm
{quote} While I am not 100% certain, I am more than 50% sure that you don't trade in time frames less than 1 hr from what you have said! 
Sure I do. I have posted on other threads trades made on M5 and M15 to demonstrate that those "useless, nothing but noise" TFs can be successfully traded the same way as higher TFs due to the fractal-like nature of financial time series.
To free Gazans of Hamas, use whatever it takes.
  • #719,091
  • Jan 8, 2023 4:18pm Jan 8, 2023 4:18pm
Quoting dantpm
{quote} So VWAP and VAP are the same?
VWAP is volume weighted average price, it works like a moving average

VAP is volume at price, it shows the volume of transactions at different price levels - right of chart. This is useful to identify areas of balance and imbalance, the high volume areas indicate balance, sideways price action around S&R levels usually whilst the negative space or low volume areas are like vacuums that price will pass through quickly once it rejects a balanced level. Also, many strategies do not work well in a balanced environment so it can give good insight into when not to trade, waiting until such a level has been rejected.
Attached Image (click to enlarge)
Click to Enlarge Name: 61F8B407-EE5D-46F0-82D5-1EF988B45E84.png Size: 38 KB

Anna Coulling and Rubén Villahermosa Chaves have written excellent books on using volume profile.
  • #719,092
  • Jan 8, 2023 4:25pm Jan 8, 2023 4:25pm
Quoting dantpm
{quote} So VWAP and VAP are the same?
They are very different sir.
VWAP is volume weighted average price (known and used globally).
While VAP is Volume Adjusted Price (created by me).
I noticed something wasn't quite right with the computation for VWAP. They use the typical price (HLC/3) during their calculation. So I decided to veer off at that point and create my own approach to it.
  • #719,093
  • Edited Jan 9, 2023 5:47am Jan 8, 2023 4:47pm | Edited Jan 9, 2023 5:47am
Ill put a sell limit @ 1.21126 with 30 pips SL.

edit: stopped out, i was the liquidity
How to succeed in zero sum game?
  • #719,094
  • Jan 8, 2023 4:52pm Jan 8, 2023 4:52pm
Quoting pipcenturion
{quote} They are very different sir. VWAP is volume weighted average price (known and used globally). While VAP is Volume Adjusted Price (created by me). I noticed something wasn't quite right with the computation for VWAP. They use the typical price (HLC/3) during their calculation. So I decided to veer off at that point and create my own approach to it.
Others are talking about volume adjusted price. Are you familiar with their approaches and can you contrast your approach to theirs?

When you are ready to talk about your approach, I am sure that people are interested. You appear to be pretty good with your predictions...
  • #719,095
  • Jan 8, 2023 4:53pm Jan 8, 2023 4:53pm
For my longs targetting from friday i am targetting 1.21400+++
Extreme gut feeling trader
  • #719,096
  • Edited 5:21pm Jan 8, 2023 5:00pm | Edited 5:21pm
Attached Image (click to enlarge)
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  • #719,097
  • Jan 8, 2023 5:33pm Jan 8, 2023 5:33pm
Attached Image (click to enlarge)
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Weekly quote: I haven't failed, I've just found 10,000 ways that won't work
My telegram: https://t.me/avidforex
  • #719,098
  • Jan 8, 2023 5:33pm Jan 8, 2023 5:33pm
Almost everything suggests that the USDX is continuing to fall for the time being. It is what the US gets for printing money instead of raising taxes to pay their bills!
  • #719,099
  • Jan 8, 2023 5:35pm Jan 8, 2023 5:35pm
Quoting dantpm
Almost everything suggests that the USDX is continuing to fall for the time being. It is what the US gets for printing money instead of raising taxes to pay their bills!
They should keep playing!!
My telegram: https://t.me/avidforex
  • #719,100
  • Edited 5:48pm Jan 8, 2023 5:37pm | Edited 5:48pm
Quoting BigNumbers
{quote} They should keep playing!!
Playing (kind of like Nero playing while Rome burned) or printing?
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