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Cable Update (GBPUSD)

  • #722,221
  • Jan 20, 2023 6:06am Jan 20, 2023 6:06am
Quoting dantpm
{quote} You might want to watch some of the ICT (Inner Circle Trader) videos on youtube. I believe you will find them interesting!
These videos are simply Awesome.
  • #722,222
  • Jan 20, 2023 6:07am Jan 20, 2023 6:07am
Quoting Pat Chiko
GU Back to back with DXY. Watch the S&R zones. {image}
Why after the terrible retail sales GU isn't lower? Cable doing its thing...bamboozling everyone with its PA!
Price = the amount a greater fool is willing to pay!
  • #722,223
  • Jan 20, 2023 6:10am Jan 20, 2023 6:10am
Quoting Moty
I'm staying alive mf I have no money to deposit for 2-3 week So i hope i will grow from that {image}
Sometimes we gain profit and sometimes not. I'm sure you will grow your account soon
  • #722,224
  • Jan 20, 2023 6:11am Jan 20, 2023 6:11am
We need a break of last low
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yes yes yes
  • #722,225
  • Jan 20, 2023 6:16am Jan 20, 2023 6:16am
Quoting Indigo45
{quote} These videos are simply Awesome.
Still trying to digest them. I also found a bunch of ICT indicators on Telegram that I am trying to digest.
Teamview has an interesting smart money flow indicator by stock in shots.
  • #722,226
  • Jan 20, 2023 6:23am Jan 20, 2023 6:23am
Moty you can short Audusd
  • #722,227
  • Jan 20, 2023 6:34am Jan 20, 2023 6:34am
Quoting Robinhood1
Last little spike tells me the game is over {image}
Trading swings is easier than daytrading if you have the appropiate mindset for it. Normally, mindset is not available because MarketMakers insist on day trading where the indicators work from time to time. For swing trading it is necessary to have spent many hours of study, less than daytrading of course. Keep leverage low and no SL. And do not be in a hurry during the first months. Beware that Soros, buffet and all this gang do not day trade. I wonder if a daytrader is in top 500 traders? This is an agenda for a swing trader´s progress.

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POSTMASTER
  • #722,228
  • Jan 20, 2023 6:41am Jan 20, 2023 6:41am
Quoting dantpm
{quote} Still trying to digest them. I also found a bunch of ICT indicators on Telegram that I am trying to digest. Teamview has an interesting smart money flow indicator by stock in shots.
I don't think that there is need of any indicator. just naked charts, Price action, Order Blocks near Demand & Supply or S/R Zones are enough.
  • #722,229
  • Jan 20, 2023 6:41am Jan 20, 2023 6:41am
Weak start to the year, price is mostly ranging after the first few days of Jan 2023, it is 20th already and I'm still at 15.9% return, not sure if I should be happy or sad.
But one thing is for sure, I am facing lesser and lesser frequency of having regret due to making bad decisions, feeling pretty good I can finally quit my day job within this year and go full time forex.
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  • #722,230
  • Jan 20, 2023 6:42am Jan 20, 2023 6:42am
GU
I know this dance. It's the same annoying, frustrating, senseless, exhausting, irritating, costly and bloody ranging game that transpired 24hrs ago.
That dance kicked my butt in brutal fashion!
Take a SHORT, it pops.
Change position. Take a LONG, it reverses and dumps.
Stay respectful to SL, then change position. Again. Price goes opposite every single gaddem time!
Gradually capital is depleting. Urge to revenge trade kicks in.
More ass whooping follows.

Yup, I know this mf dance!!
  • #722,231
  • Jan 20, 2023 6:44am Jan 20, 2023 6:44am
Quoting Moty
We need a break of last low {image}
I agree , however we aren’t going there today as cable seems to be in a range area for time being. No major data to help it follow path either.

first we need to drop to 12330 and a decent break below
Insane in the Brain..
  • #722,232
  • Jan 20, 2023 6:45am Jan 20, 2023 6:45am
Quoting Indigo45
{quote} I don't think that there is need of any indicator. just naked charts, Price action, Order Blocks near Demand & Supply or S/R Zones are enough.
You are right. I however have been looking for indicators that assist with correctly identifying order blocks, supply and demand zones and support and resistance zones. The challenge that I have is picking the right ones to pay attention to. This is why I would like to make a Pat Chiko indicator, he seems to get it right a lot of the time.

They also highlight killszones, trading sessions and so forth to save you the time of marking up your chart.
  • #722,233
  • Jan 20, 2023 7:02am Jan 20, 2023 7:02am
Quoting BrainBucks
GU I know this dance. It's the same annoying, frustrating, senseless, exhausting, irritating, costly and bloody ranging game that transpired 24hrs ago. That dance kicked my butt in brutal fashion! Take a SHORT, it pops. Change position. Take a LONG, it reverses and dumps. Stay respectful to SL, then change position. Again. Price goes opposite every single gaddem time! Gradually capital is depleting. Urge to revenge trade kicks in. More ass whooping follows. Yup, I know this mf dance!!
I suggest that you SELL and hold the position.
Price ought to take out yesterday's low and once that is done, the low of the last 2 days (Wednesday) will also be taken out.
Just sell and hold that's my recommendation.
All the best sir!
  • #722,234
  • Jan 20, 2023 7:07am Jan 20, 2023 7:07am
Quoting BrainBucks
GU I know this dance. It's the same annoying, frustrating, senseless, exhausting, irritating, costly and bloody ranging game that transpired 24hrs ago. That dance kicked my butt in brutal fashion! Take a SHORT, it pops. Change position. Take a LONG, it reverses and dumps. Stay respectful to SL, then change position. Again. Price goes opposite every single gaddem time! Gradually capital is depleting. Urge to revenge trade kicks in. More ass whooping follows. Yup, I know this mf dance!!
Haha, I got pissed too by its refusal to go lower this morning! Especially after the terrible retails sales.
Classic cable price action.
Price = the amount a greater fool is willing to pay!
  • #722,235
  • Jan 20, 2023 7:07am Jan 20, 2023 7:07am
Quoting pipcenturion
{quote} I suggest that you SELL and hold the position. Price ought to take out yesterday's low and once that is done, the low of the last 2 days (Wednesday) will also be taken out. Just sell and hold that's my recommendation. All the best sir!
I'm actually waaaayy past ignoring your recommendation.
Of course I'll do the needful for safeguards.
But I'm SHORTING @ 1.2360 as soon as yesterday!
Thanks and best wishes to you too.
  • #722,236
  • Jan 20, 2023 7:14am Jan 20, 2023 7:14am
I'm waiting for double top pattern formation and after i will sell hard
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  • #722,237
  • Jan 20, 2023 7:18am Jan 20, 2023 7:18am
GU

Still looking at structure of GBPUSD seems to be developing as a diagonal structure.

From TA, there is one more move higher to complete the pattern and following that a move to the downside as part of a retracement.
For now, wait for more confirmation before committing to any trade setup.
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  • #722,238
  • Jan 20, 2023 7:21am Jan 20, 2023 7:21am
market should spike then sell off around 75
  • #722,239
  • Jan 20, 2023 7:24am Jan 20, 2023 7:24am
Quoting Pip-hunter
{quote} Haha, I got pissed too by its refusal to go lower this morning! Especially after the terrible retails sales. Classic cable price action.
Lately the news does the opposite to the price, better just stick to TA, the news will follow whatever setup the TA has, been working well.
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  • #722,240
  • Jan 20, 2023 7:24am Jan 20, 2023 7:24am
Quoting dantpm
{quote} You are right. I however have been looking for indicators that assist with correctly identifying order blocks, supply and demand zones and support and resistance zones. The challenge that I have is picking the right ones to pay attention to. This is why I would like to make a Pat Chiko indicator, he seems to get it right a lot of the time. They also highlight killszones, trading sessions and so forth to save you the time of marking up your chart.

Hey Dantpm..... that was funny....
Lol.......... sound like I'm a big time scammer...............
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Happy Chinese New Year.
A lot of fire works just started in my neighborhood..... like War zones.....but bright and colorful
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