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Cable Update (GBPUSD)

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pp at 2393 addled on the top line stop on 2493 for that third trade now . And we will try to move the pp up to 2400 if it move before end of play
Safe to say that that quick peep into the 1.2400s may have just been to shake off SLs above.
Still the BEARS aren't doing the best job at fending off the BULLS.
Holding on to my SHORTS though...
A very good trade would likely come up for GBPUSD tonight... Stay Put.. I trade all pairs sorry for that.. I like trading set up not pair!.. sometimes I would trade before looking at the trade pair.
Whatever it takes…
Quoting BrainBucks
Safe to say that that quick peep into the 1.2400s may have just been to shake off SLs above. Still the BEARS aren't doing the best job at fending off the BULLS. Holding on to my SHORTS though...
me too, will be happy to get to 12250 at b/e or even worse case 12270 taking a small hit
Quoting Bainbrito
There is no nice way to describe the character of cable - it is crazy!
Yes. I can understand you well.
  •  Bones
  • Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 22,783 Posts | Online Now
Quoting RemyLou
{quote} I think a range followed by a downtrend or just a downtrend. Reason being the bulls are losing power
maybe another?
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#doyourownanalysisordietryin
This looks like a trap.

Sellers ought to be at 1.24018

Let's see whether there will be a gap to the down side.

The high of the just completed week might stay intact.
Quoting suhas316
{quote} Bro... that calculation only look good in excel sheet... it's very hard to apply in real world... 800 pips every month... not possible... if market stay in range 3-5 days.. you whole calculation will messed up ....
You can divide It by 2 then. The kings at this thread are doing over 1000 pips everyday. Who is the sweet dreamer? And who is the fool who beleives It.. I am only stating 20 pips average a day if divided. I have seen you state 100 pips one only trade. Its not about averaging though, its about having a high swing winrate. It puzzles me that such a good trader like you questions 40 pips a day. I was expecting newbies to resopond.
Train your eyes
The trades are difficult yesterday per my fibo retracement strategy.
1. JPY is bearish without any good retracement until first 2 hours of NY session.
2. others like USD, EUR, GBP, AUD, USD ranging until first 2 hours of NY session for breakout without any good retracement.
Even after entry, the volatility is high and SL cannot be tight to let the position run.

How do i define a good retracement?
1. as little ranging as possible on shorter time frames. (<15min)
2. at least 38% pullback
3. for entry: trendline (horizontal or vertical) break convincedly with margin of safety.

I guess patience is the KEY as the trigger for my system only starts late in the day at times as seen yesterday (with risk management of + comfortable size positions)
Quoting firsttimer
The trades are difficult yesterday per my fibo retracement strategy. 1. JPY is bearish without any good retracement until first 2 hours of NY session. 2. others like USD, EUR, GBP, AUD, USD ranging until first 2 hours of NY session for breakout without any good retracement. Even after entry, the volatility is high and SL cannot be tight to let the position run. How do i define a good retracement? 1. as little ranging as possible on shorter time frames. (<15min) 2. at least 38% pullback 3. for entry: trendline (horizontal or vertical) break convincedly...
JPYs do you mean JPY pairs ... or JPY as a currency . . .?
Be yourself
Quoting Robinhood1
{quote} You can divide It by 2 then. The kings at this thread are doing over 1000 pips everyday. Who is the sweet dreamer? And who is the fool who beleives It.. I am only stating 20 pips average a day if divided. I have seen you state 100 pips one only trade. Its not about averaging though, its about having a high swing winrate. It puzzles me that such a good trader like you questions 40 pips a day. I was expecting newbies to resopond.
My avg is over 100 pips a day lol...but it's not that easy that's I'm saying .... Because if you trade pair like GBPUSD ... Then it's definitely not possible 800 pips a month. Everyone know how cable in range for many days ... Sometimes even getting 20 pips in cable is hard.. I have double my capital in sigal month (I did it three times but not in a row )... But that did not happen every time.. it also depends on market. I win rate and risk reward is really good in Crude Oil ... But if you compare it with Cable then you will see the difference. It also depends on which pair you trade. I am not pulling you down but if trade with a mindset that I will make 50 pips everyday then you will messed up. Do not set targets... See what market is offering you and how much you can take from it.
I am sorry if u get hurt by my word ..

Suhas
Born to Trade Forex !!!
Quoting firsttimer
The trades are difficult yesterday per my fibo retracement strategy. 1. JPY is bearish without any good retracement until first 2 hours of NY session. 2. others like USD, EUR, GBP, AUD, USD ranging until first 2 hours of NY session for breakout without any good retracement. Even after entry, the volatility is high and SL cannot be tight to let the position run. How do i define a good retracement? 1. as little ranging as possible on shorter time frames. (<15min) 2. at least 38% pullback 3. for entry: trendline (horizontal or vertical) break convincedly...
Rather then 15 min ... Try one hour chart for fibo... And always try to draw fib level to the latest swing rather than big swing we saw it on chart ,.. it works really good n risk reward ratio is awesome... In my experience if you want to be successful one thing you have to look at HHHLLHLL. D day I strted looking at that and mix it with my strategy I got really good results.
Born to Trade Forex !!!
Quoting JereMi256
{quote} Gap filled and respected! {image}
Well, me switching trade to Short hit SL, GU just disrespect the bearish engulfing and go up somehow.
The SL is compensated by the early decent profit from the previous Long, doesn't hurt as much.

But if you'd ask me, I did not regret changing direction, it is what I would do as per my system, if you look back, there are many instance price stalls and form S/R zone, respond to that zone in new London open again usually will give you TP most of the time, this time is just 1 of the few times it did not work out and hit SL instead.

....somehow i think when I post my trade here, things will not end well for me, i will go back to hibernation then hahaha, maybe some force here is watching me and want to make sure I fail by trading against me O_O
GBPUSD only, M15 timeframe only. Aim for strong trend trades.
Quoting Moty
{quote} I'm taking a break for 2-3 weeks Take care my friends
What is happening bro? Is it due to risk management? Risking more than intended and cause this?
GBPUSD only, M15 timeframe only. Aim for strong trend trades.
Quoting Robinhood1
{quote} 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 traderīs progress....
If you trade like a Market maker, day trading is easier than swing trading to be honest, its totally skill based.
If you check who are the top traders (not investors), they are day traders mostly and almost all don't trade Forex.
Trading thin liquidity at the boundary of the charts
Quoting Reverso
{quote} Well, me switching trade to Short hit SL, GU just disrespect the bearish engulfing and go up somehow. The SL is compensated by the early decent profit from the previous Long, doesn't hurt as much. But if you'd ask me, I did not regret changing direction, it is what I would do as per my system, if you look back, there are many instance price stalls and form S/R zone, respond to that zone in new London open again usually will give you TP most of the time, this time is just 1 of the few times it did not work out and hit SL instead. ....somehow...
I lost you on the last paragraph

I used to believe the same thing too(for me it was my work station, I thought it was cursed), but I realized those are just consolations to the bitter fact that you were wrong. I had that feeling too but lately my mental stability is picking up the pieces of the GU puzzles.

Patience is the key, your mindset is the lock!
The two have to be in synch
Face 'ur fear & Tame 'ur greed
This pair seems to have trapped buyers.
They market makers have been very subtle in their dealings.
Notice that the candle on Wednesday ENGULFS both Thursday and Friday candles (so Thurs and Fri were INSIDE BARS as compared to that of Wednesday). The candle of CONTROL is still the one for Wednesday.
Now go to the daily time frame and see the BEARISH imbalance from December 14, 2022. My VAP analysis shows that demand was consumed at 1.2423 on this day.
Follow carefully . . . the Wednesday candle high has come back to retest this (1.2423) level and created a new consumed VAP demand at 1.24018
I am taking the risk of going SHORT at 1.24018 risking the December 14 high around 1.2448 (maybe 1.2558 for headroom allowance)
I won't be surprised if we get a very unexpected gap down by market open on Sunday night.
One last thing, two candles on daily have failed to exceed Wednesday's high meaning that we already have a DEGREE 2 SWING HIGH in place on the daily time frame.
I just feel many buyers have been trapped!!!!
Quoting suhas316
{quote} My avg is over 100 pips a day lol...but it's not that easy that's I'm saying .... Because if you trade pair like GBPUSD ... Then it's definitely not possible 800 pips a month. Everyone know how cable in range for many days ... Sometimes even getting 20 pips in cable is hard.. I have double my capital in sigal month (I did it three times but not in a row )... But that did not happen every time.. it also depends on market. I win rate and risk reward is really good in Crude Oil ... But if you compare it with Cable then you will see the difference....
No offense my friend. I never said just cable trading. In fact, I am one of the few who trades any pair that suits my strategy. I have been prohibited from posting other non-cable pairs on this thread, while anyone can. I have an amazing email that I won't post here for privacy reasons. He also says that I am colluding with another member just because he is giving me likes and Romanian. With this discussion you will get all the likes, I probably won't get any and I don't even care because I'm not a corporate scammer. if your average is 100 pips it takes us to 2000 per month. You would be well known because here everything is known through bank accounts. It would not be so if you were a smuggler. Larry Williams is known for making 1 million from 10,000 in a year a few decades ago as as a swing trader and that is much less than you are capable of. His daughter repeated the same feat later and she is an actress, she is not interested in markets. I am positioned short EU from 2 Thursdays ago at the highest zone and you will have to wait until I break the MMs for the market to run as usual. Cheers.
Train your eyes
Quoting Robinhood1
{quote} No offense my friend. I never said just cable trading. In fact, I am one of the few who trades any pair that suits my strategy. I have been prohibited from posting other non-cable pairs on this thread, while anyone can. I have an amazing email that I won't post here for privacy reasons. He also says that I am colluding with another member just because he is giving me likes and Romanian. With this discussion you will get all the likes, I probably won't get any and I don't even care because I'm not a corporate scammer. if your average is 100...
This month i have dobled my account so far but stuck for las 7 busness days. I may post my account results till december. I know what i am talking about. Trading since week after 11 sept 2001.

BTW, I should think that Moty is a reflex of true daytrader. I like him/her. Honesty.

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Train your eyes
Quoting pipcenturion
This pair seems to have trapped buyers. They market makers have been very subtle in their dealings. Notice that the candle on Wednesday ENGULFS both Thursday and Friday candles (so Thurs and Fri were INSIDE BARS as compared to that of Wednesday). The candle of CONTROL is still the one for Wednesday. Now go to the daily time frame and see the BEARISH imbalance from December 14, 2022. My VAP analysis shows that demand was consumed at 1.2423 on this day. Follow carefully . . . the Wednesday candle high has come back to retest this (1.2423) level and...
They are trying to break what i beleive is natural law on dollar. EU starts to look like 2015 eurchf peg. They could lose their pants like back then.
Train your eyes
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