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Cable Update (GBPUSD)

  • #719,281
  • Jan 9, 2023 6:11am Jan 9, 2023 6:11am
Quoting MrFanciful
All day...Takes my stops and then reverses. Gets right up to my TP and reverses and takes my stop. Think I'm going to have to close my account or otherwise I'll have a stroke.
Best Idea is to place you TP at your SL and SL at your TP... Let's see what happens... LOL
  • #719,282
  • Jan 9, 2023 6:12am Jan 9, 2023 6:12am
Quoting Pat Chiko
{quote} I usually break it down into smaller pieces for easy digestion. Here , how I see to playground until US CPI on Thursday. ( See chart) To swallow 136.7 pips (imbalance) in one gulp will choke us. Unless you're a python{image}
Thank you for giving me such a beautiful answer It definitely takes you a lot of time to answer, & many people always ask you questions, but I have never seen you not answer. By the way, you take the time to explain with examples in the chart. Being a professional also has such problems Thank you again for your reply. you have a beautiful soul . well done
There is nothing wrong with being kind & loving to each other
  • #719,283
  • Jan 9, 2023 6:14am Jan 9, 2023 6:14am
Quoting Pat Chiko
{quote} I usually break it down into smaller pieces for easy digestion. Here , how I see to playground until US CPI on Thursday. ( See chart) To swallow 136.7 pips (imbalance) in one gulp will choke us. Unless you're a python{image}
This chart looks very clear, but not easy to digest, how to look for filling the long candles. Can you please explain a bit more, where you will expect the price to retrace... or do different way... to will look for the price moves and then follow these SR lines for entry and exits...

Thanks.
  • #719,284
  • Jan 9, 2023 6:14am Jan 9, 2023 6:14am
Quoting MrFanciful
All day...Takes my stops and then reverses. Gets right up to my TP and reverses and takes my stop. Think I'm going to have to close my account or otherwise I'll have a stroke.
Hi there, show me some of your trades. Plot them on chart please. If you don't mind.

SF

Quoting MrFanciful
All day...Takes my stops and then reverses. Gets right up to my TP and reverses and takes my stop. Think I'm going to have to close my account or otherwise I'll have a stroke.
Don't worry, I also have bad ones... This one was "Hmm, I want some trade.. Ok let's open sell on totally stupid level."

I had enough of that so I closed it...
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 16 KB
  • #719,285
  • Jan 9, 2023 6:21am Jan 9, 2023 6:21am
Quoting Pat Chiko
{quote} I usually break it down into smaller pieces for easy digestion. Here , how I see to playground until US CPI on Thursday. ( See chart) To swallow 136.7 pips (imbalance) in one gulp will choke us. Unless you're a python{image}
As a junior member i can't upvote you, but these are outstanding posts. Thank you!
  • #719,286
  • Jan 9, 2023 6:21am Jan 9, 2023 6:21am
Quoting Moty
{image}
why are you fighting the trend? You will lose?
I'm enjoying the wins because I was once terrified by loses
  • #719,287
  • Jan 9, 2023 6:21am Jan 9, 2023 6:21am
Quoting Indigo45
{quote} Best Idea is to place you TP at your SL and SL at your TP... Let's see what happens... LOL
Made me chuckle.
  • #719,288
  • Jan 9, 2023 6:21am Jan 9, 2023 6:21am
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.png Size: 31 KB
yes yes yes
  • #719,289
  • Jan 9, 2023 6:22am Jan 9, 2023 6:22am
Quoting Pat Chiko
{quote} I usually break it down into smaller pieces for easy digestion. Here , how I see to playground until US CPI on Thursday. ( See chart) To swallow 136.7 pips (imbalance) in one gulp will choke us. Unless you're a python{image}
Saw kink on your FB post bro. What's that?
More time in the market, does not mean you trade better!
  • #719,290
  • Jan 9, 2023 6:23am Jan 9, 2023 6:23am
Quoting Pat Chiko
{quote} I usually break it down into smaller pieces for easy digestion. Here , how I see to playground until US CPI on Thursday. ( See chart) To swallow 136.7 pips (imbalance) in one gulp will choke us. Unless you're a python{image}
2 years ago, I remember this model of imbalance in the market was happening more than expected. which finally had a 30% correction & again grew as much as the big candle and sometimes more. Today reminded me of 2 years ago and I wasn't very confident about going back. That's why I was interested to know if it always fills up or if there is an alarm for never filling up. I mean such growth with a sharp angle, which happens a lot
Attached Image (click to enlarge)
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There is nothing wrong with being kind & loving to each other
  • #719,291
  • Jan 9, 2023 6:25am Jan 9, 2023 6:25am
Quoting MrFanciful
All day...Takes my stops and then reverses. Gets right up to my TP and reverses and takes my stop. Think I'm going to have to close my account or otherwise I'll have a stroke.
Same problem today. It's annoying. At least with small orders the losses are also small!
  • #719,292
  • Jan 9, 2023 6:25am Jan 9, 2023 6:25am
Quoting Erto
{quote} why are you fighting the trend? You will lose?
Having a trend does not mean price will not go other way for a while. I can even see a gap. I'm not saying they will fill it today or this week, but retracement is needed. Retail is heavily SHORT. They will push price down so they think "Oh I'm right!" and then reverses.

This must be done first.
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  • #719,293
  • Jan 9, 2023 6:26am Jan 9, 2023 6:26am
Quoting RaHaG0D
{quote} Thank you for giving me such a beautiful answer It definitely takes you a lot of time to answer, & many people always ask you questions, but I have never seen you not answer. By the way, you take the time to explain with examples in the chart. Being a professional also has such problems Thank you again for your reply. you have a beautiful soul . well done
Thats the helping side of PAT and also the reason why Karen hates PAT so much!
More time in the market, does not mean you trade better!
  • #719,294
  • Jan 9, 2023 6:29am Jan 9, 2023 6:29am
Quoting MrFanciful
{quote} Made me chuckle.
Same happened to me many times. Now my analysis is a bit improved. I started to move my TP to breakeven...price started to kiss my BE SL and hit my TPs.
Then I decided to Exit Half of the position where I should have BE, and half to go.
However what I lack is to let go the winning trades. Still learning to be Profitable from BE level. currently.
  • #719,295
  • Jan 9, 2023 6:30am Jan 9, 2023 6:30am
Back from my long holiday. Let's see how are the trades doing.

Cable. I left it over the new year. So, just added a few short trades as it went up from 1.188888.

USDJPY. Entered short on non-farm. Still holding it. Entered another short just now. Target 129.

GBPJPY. Entered a short just right now. Target 155.
Attached Image(s) (click to enlarge)
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  • #719,296
  • Jan 9, 2023 6:35am Jan 9, 2023 6:35am
Anticipating a spike up to take the stops above the 1.2145
Attached Image (click to enlarge)
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  • #719,297
  • Jan 9, 2023 6:39am Jan 9, 2023 6:39am
Quoting cchin
Back from my long holiday. Let's see how are the trades doing. Cable. I left it over the new year. So, just added a few short trades as it went up from 1.188888. USDJPY. Entered short on non-farm. Still holding it. Entered another short just now. Target 129. GBPJPY. Entered a short just right now. Target 155. {image} {image} {image}
Nice setup you have cchin

You are resolute in your plan That is really good
Shekh In Desert
  • #719,298
  • Jan 9, 2023 6:39am Jan 9, 2023 6:39am
While Cable is in Range
Crude Oil Long in 80+ pips now
Target 150 pips
Attached Image (click to enlarge)
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!! Radha Radha !!
  • #719,299
  • Jan 9, 2023 6:43am Jan 9, 2023 6:43am
I really hope all of you shorted when I posted my screenshot. I'm the best indicator you guys have.
  • #719,300
  • Jan 9, 2023 6:44am Jan 9, 2023 6:44am
Quoting RaHaG0D
{quote} 2 years ago, I remember this model of imbalance in the market was happening more than expected. which finally had a 30% correction & again grew as much as the big candle and sometimes more. Today reminded me of 2 years ago and I wasn't very confident about going back. That's why I was interested to know if it always fills up or if there is an alarm for never filling up. I mean such growth with a sharp angle, which happens a lot {image}
Take it like a Normal Distribution Curve (google it) you will see after a steeper move, the curve becomes flatter, then top out, reverse.
The steeper the curve, the great the momentum will be, and as it gets flatter, indicating buying/selling pressure is fading.
As in today's example, your 2nd leg blue line (which is flatter) after it top out (with a gravestone doji on 1hr timeframe),
These PA you can easily get 40-50pips for GU while 60-70pips for UJ, which I usually trade these Momentum faded PA setup outside my usual risk management.
But many times this doesn't meant a change in trend, as after 50pips for GU and 70UJ the PA start reversing and by that time your TP already hit and trend resumes as falling price is met with high buying interest

I learn this cute setup by trying to catch UJ reversal last year

Hope it sheds some light on what PAT's answer to your question, since you asked him


Edit: In short, consider it as an Institutional TP levels
More time in the market, does not mean you trade better!
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