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Cable Update (GBPUSD)

  • #720,721
  • Jan 13, 2023 6:55am Jan 13, 2023 6:55am
Quoting Wavegarrick
{quote} Usdjpy possible target 128.376. Cheers. {image}
Hopefully you got a long entry in close to 128.100/200 support zone. Entered my long swing entry @128.100 the ride back up for USDJPY is going to be a long one.

Guy
  • #720,722
  • Edited 7:11am Jan 13, 2023 6:55am | Edited 7:11am
And now look what we have pre-NY, look what London just did.

I DON'T TRADE IT BECAUSE IT'S FRIDAY!!! Do not take it!!!
But if this was Monday to Thursaday, I take this all the time.
Attached Image (click to enlarge)
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Short setup 10:00, one hour into London. It took out Asia High and yesterdays High.
Asia Low was left untouched, that's target.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD_2023-01-13_13-58-24.png Size: 36 KB

and that's how London played out.
This repeats all the time. Does it always work? NO, you have losing trades. But if this setup gets stopped yo still took a good trade! Because the setup is profitable LONGTERM. I trade this all the time, this pays the bills.
Be careful on Mondays and Fridays! It can play out, it might as well not.
Tue, Wed, Thu - that's your intraday setups.
That's the ICT Marketmaker Model in a nutshell and it repeats like clockwork.
I just gave you an ATM. Use it.
Happy weekend
you are not expected to understand this
  • #720,723
  • Jan 13, 2023 6:58am Jan 13, 2023 6:58am
Quoting Teek
{quote} To trade London, you must be there early! The London setup starts building 2 hours before London open: 8:00 (one hour before London) is Frankfurt Open: look to the left! Does Frankfurt take out the Asia High/Low? That's your setup, London will run the other side, they already executed. Target is the opposite Asia High/Low. If 8:00 to 9:00 (London Open) does not take out the Asia High/Low, watch London Open. Do NOT punt the Open, only Dummies do that, wait and watch priceaction! Until 10:00 (one hour into London) there should have been a...
Just because I am a little slow, can you walk through today's example and/or critique my guess?
What I see:
Frankfurt appears to simply continue with the upward trend established in Tokyo.
London appears to marginally take out both the high and the low.
NY should take the price to a new high?


<EDIT> saw your post after I entered this one.
  • #720,724
  • Jan 13, 2023 6:58am Jan 13, 2023 6:58am
Quoting mysterio
{quote}this imbalance has to hold, or I get out BE. {image}
Closed remaining at 1.2173
  • #720,725
  • Jan 13, 2023 7:05am Jan 13, 2023 7:05am
Quoting bilal1947
Just for brainstorming asking below questions, as many here are exposed to the ICT concepts, as to why this FVG not that one or why this OB why not that one. {image} FVG H1 - 1st FVG failed but 2nd one worked Order Block H4 Bearish Order block is there on small right side H4 chart H1 Bearish and Bullish order blocks on both the sides. any one like to respond, and everyone is welcome. Thank you regards bilal
Bilal, and, if may know, what is your point about that? thanks
Newbie trader
  • #720,726
  • Jan 13, 2023 7:09am Jan 13, 2023 7:09am
Quoting Teek
And now look what we have pre-NY, look what London just did. I DON'T TRADE IT BECAUSE IT'S FRIDAY!!! Do not take it!!! But if this was Monday to Thursaday, I take this all the time.{image} Short setup 10:00, one hour into London. It took out Asia High and yesterdays High. Asia Low was left untouched, that's target.{image} and that's how London played out. This repeats all the time. Does it always work? NO, you have losing trades. But if this setup gets stopped yo still took a good trade! Because the setup is profitable LONGTERM. I trade this all...
Why not on a Friday?
  • #720,727
  • Jan 13, 2023 7:15am Jan 13, 2023 7:15am
Quoting Georginson
{quote} This will mean consistent 600 pips gain each month, staking 5% of the starting equity... Possible but difficult... As there will be some unproductive months in between...
If we can add 13 Pips daily with 0.10 lot size for every 1000 or 250 Pips of .05 Lot size for every 1000. This result will come. But we need quick money and loose it quickly.
  • #720,728
  • Jan 13, 2023 7:18am Jan 13, 2023 7:18am
Sad to have closed my sell from 1.2235 earlier but hey capital preservation is the most important...

Today is Friday... What are the market makers cooking... It's all about trap setting for retail traders...

1.2000 or 1.2300 which one today...?

Break 1.2150 and welcome 1.2000 area
Find support 1.2150 and welcome 1.2300 area...

Catalyst? Maybe the News in few hours time will be the mighty catalyst...

Careful guys...

Quoting Indigo45
{quote} If we can add 13 Pips daily with 0.10 lot size for every 1000 or 250 Pips of .05 Lot size for every 1000. This result will come. But we need quick money and loose it quickly.
The question is how consistent will the trader be to acquire all these targets... The bigger the pips needed, the more difficult it becomes...

Timing of entries is super important... Everything is forex trading has to do with timing... Possible to trade the right price at the wrong time and also possible to trade wrong price at the right time...

Market makers are watching all your moves... Best bet is to learn to trade like them, otherwise one will join the 99% failed traders.
Data + Stat + Risk/Emotions Management
  • #720,729
  • Jan 13, 2023 7:26am Jan 13, 2023 7:26am
Quoting Pat Chiko
{quote} GU taken the bus ride now.{image}
The chards are slight up. only h4 not, of course all can change, as often in forex. I need stable chards for only 20 or 30 minutes, I m modest
  • #720,730
  • Jan 13, 2023 7:30am Jan 13, 2023 7:30am
Quoting noox
{quote} Why not on a Friday?
Because Friday Smart Money trades OUT. (They cover longs and shorts). Friday is "Risk off"
The same happens before Red Flags.
Big Money trades out (Risk off), they start covering their positions before events, that's why you see price always "crawl" to a significant high or low before an event.
"Smart Money" trades OUT when you trade IN. (quote myself: "the Lines are my targets, not my entries")

Mondays often are directionless or slow. I don't like Mondays.
I often trade London on a Friday if the setup is there. (today I did not because I was not at the charts).
Tue, Wed, Thu, the setup is super reliable if it builds around certain times of day. Only then I take it.
Time of Day is super important in this!

It does not always win, it does not create a 100% winrate but a serious trader does not care about this.
It is a high probability setup with very good Risk vs Reward, easy to see if you train your eyes to "time & price".
Very methodical trading. If the setup is there you trade, if it isn't you don't.
Easy trading, no stress, no "I hope it will", no guessing.
The trade on this setup is always a good trade because it's methodical, it follows an algorythmic footprint that repeats often enough to be very profitable, and it gives you clear entries, stops, and targets. And when you get stopped on this setup, you know it's time to stay away.
you are not expected to understand this
  • #720,731
  • Jan 13, 2023 7:30am Jan 13, 2023 7:30am
Quoting Indiara
Is time for a shower and sleep for me now as I have an early start tomorrow..last one of the week My first week back trading for the new year and 5 wins out of 5 and my weekly target met is all I could ask for, so I am very happy. I thank the universe for helping me and I look forward to more trades next week. I hope all you NY traders do well and you finish your week with a smile Have fun, take care and have a great weekend See you back for Uncle Frankie on Monday Indiara
With your time to sleep, probably you will not be soon the best trader from Australia good night and sweet dreams !
  • #720,732
  • Jan 13, 2023 7:31am Jan 13, 2023 7:31am
Quoting Georginson
Sad to have closed my sell from 1.2235 earlier but hey capital preservation is the most important... Today is Friday... What are the market makers cooking... It's all about trap setting for retail traders... 1.2000 or 1.2300 which one today...? Break 1.2150 and welcome 1.2000 area Find support 1.2150 and welcome 1.2300 area... Catalyst? Maybe the News in few hours time will be the mighty catalyst... Careful guys... {quote} The question is how consistent will the trader be to acquire all these targets... The bigger the pips needed, the more difficult...
It is sooooo easy with CALCULATOR.
  • #720,733
  • Edited 7:49am Jan 13, 2023 7:36am | Edited 7:49am
Quoting Pat Chiko
{quote} GU Waititng for the bus to arrive to to add position{image}
Your SL at 1.2162 is my buy limit

edit: SL at 1.2144

Next and final line of defence for bulls is at 1.2123 with SL below yesterday's low.

I expect 1.2254 then maybe 1.2311
  • #720,734
  • Jan 13, 2023 7:37am Jan 13, 2023 7:37am
Quoting Indigo45
{quote} There are two suggestion: Lot size Target.. I checked your last trade was closed at 3.8 Pips. In case this goes wrong way, what you are going to loose and $1 trade at 30 Pips SL 30% of your account. While you are risking 30% of your Equity for just a few pips. You need to work for risk and reward ratio and trade with smaller lots to be successful. Please look at below chart if you earn $300 in a month for every $1000 Equity. Slow and Steady can win in forex...{image} in longer Run.
Money comes from good trading, accounting can only count, not decide whether good or bad
  • #720,735
  • Jan 13, 2023 7:39am Jan 13, 2023 7:39am
I think that is part of the truth about Crypto...

Inserted Video


...I am also waiting for recommendations from you...

God bless everyone!
The only impartial feeling is love. It is also the only feeling of God.
  • #720,736
  • Jan 13, 2023 7:40am Jan 13, 2023 7:40am
Quoting Teek
{quote} To trade London, you must be there early! The London setup starts building 2 hours before London open: 8:00 (one hour before London) is Frankfurt Open: look to the left! Does Frankfurt take out the Asia High/Low? That's your setup, London will run the other side, they already executed. Target is the opposite Asia High/Low. If 8:00 to 9:00 (London Open) does not take out the Asia High/Low, watch London Open. Do NOT punt the Open, only Dummies do that, wait and watch priceaction! Until 10:00 (one hour into London) there should have been a...
I had that observation, but you validated that. Now this is going to benefit most of us. This setup is more than 70% success.
  • #720,737
  • Jan 13, 2023 7:46am Jan 13, 2023 7:46am
Quoting LvMMT
I think that is part of the truth about Crypto... https://www.youtube.com/watch?v=YQ_xWvX1n9g ...I am also waiting for recommendations from you... God bless everyone!
Another Crypto Show: do only what you understand and can use for profit
God bless everyone! but it doesn't increase your bank account
  • #720,738
  • Jan 13, 2023 7:49am Jan 13, 2023 7:49am
Quoting dantpm
{quote} Just because I am a little slow, can you walk through today's example and/or critique my guess? What I see: Frankfurt appears to simply continue with the upward trend established in Tokyo. London appears to marginally take out both the high and the low. NY should take the price to a new high? <EDIT> saw your post after I entered this one.
Frankfurt appears to simply continue with the upward trend established in Tokyo.
--> leaving the Asia Low untouched. You don't have a buy setup because neither Frankfurt nor London took out the Low. You now know they are running the Highs. Look to the left, what do you see? Equal Highs. You know where to look and wait for a short setup. If the setup forms at the equal highs up there, the leftover Asia Low is your target.
If the setup forms too late, don't take it. It's Friday.
This one, I would have traded it but I wasn't at the chart.
Regardless if the target was hit or not I would have closed the trade before 8:30 NY time (14:30 London).

In a nutshell:
If Frankfurt/London does not take out an Asia High/Low with a clean setup (Smart Money Reversal), don't trade it. They usualy run the other side first if this happens and that's where you watch for the next setup. It MUST form around significant highs/lows. Not somewhere in nowhere land.
Also! Look at the higher timeframes! This is most important. Always keep in mind the overall direction of the market. The same setup forms on every timeframe btw... it's algorythmic.

You don't need to catch every trade. The market is always there and the next setup will always come.
Be methodical. If the setups is there (taking out a significant High/Low) trade it. If it is not there you have no trade, but you know where to look for the next one.

The only real difference besides capital between "Smart Money" and "Dumb Money" is: Smart Money is methodical. No guessing.
you are not expected to understand this
  • #720,739
  • Jan 13, 2023 7:51am Jan 13, 2023 7:51am
Quoting palpite
add sell - 1.2175
Quoting palpite
sell - 1.2143 stop loss - 1.2165
Quoting palpite
add sell - 1.2162
trades closed - 1.2160

I'll leave only one trade running before the news.
Together we can be strongest
Vantage Return This Month: na
  • #720,740
  • Jan 13, 2023 7:54am Jan 13, 2023 7:54am
GJ trade enjoy
Attached Image (click to enlarge)
Click to Enlarge Name: d.PNG Size: 23 KB
MA provides the market's current direction and strength.
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