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Cable Update (GBPUSD)

  • #724,321
  • Jan 29, 2023 10:55am Jan 29, 2023 10:55am
Quoting dantpm
{quote} I believe that to trade effectively you have to know what is happening globally. If you follow the 'smart money' concept of trading the press is getting funded by big businesses trying to manipulate the news and markets to create profitable trading patterns for themselves. Our challenge is to figure out what to incorporate and what to ignore to complement the other trading strategies.
There is no "smart money concept" out there.
How to succeed in zero sum game?
  • #724,322
  • Jan 29, 2023 10:57am Jan 29, 2023 10:57am
Quoting Ferna
{quote} I don't like burdens, i am a new trader so i dont understand things. Better you guys attack me and tell me what i am doing wrong Come on, i am the easiest target you will ever aim for.
The only people getting "attacked" here are the ones with big ego and nothing to back it up(show off wannabe gurus) or if you are like really dumb No one gets attacked by posting analysis and learning.
How to succeed in zero sum game?
  • #724,323
  • Jan 29, 2023 10:58am Jan 29, 2023 10:58am
Quoting Kwt4x
{quote} si te conviertes en un objetivo, serás golpeado, así que no hay reglas y todo es justo : el mercado no es un juego de adivinanzas, si no puedes leer la dirección, ahorre su dinero. La mejor manera de entender la dirección es la "Teoría de Dow" para aprender las etapas de tendencia. saludos,
Hello Kwt4x: do you have any indicator with the Dow theory? what I found in tradingview of Aizen Mt, it is a free download indicator, it is not a page that makes it easy for you, it is a theory that is years old, and that nothing has been done ???, if you can guide me, I will I would appreciate it a lot, a hug and many pips!
  • #724,324
  • Jan 29, 2023 11:00am Jan 29, 2023 11:00am
Quoting dantpm
{quote} There are thousands of trading systems that have been published and a greater number of experts are willing to take your money to teach you forex trading! If your intention is to become a profitable forex trader, it going to take time and require effort. Here is a link to a gentleman who is very successful and experienced and who teaches mainly with youtube videos: https://www.youtube.com/c/InnerCircleTrader Here is a journal of a trader who has a system that she trades profitably: https://www.forexfactory.com/thread/...just-a-journal...
How do you know he/she is profitable when no Trade Explorer is linked?
  • #724,325
  • Jan 29, 2023 11:00am Jan 29, 2023 11:00am
Quoting dempire1
{quote} There is no "smart money concept" out there.
There appear to be a lot of people out there who disagree. Many label it as following institutional money flow others label it as following smart money and still others call it the smart money concept.
  • #724,326
  • Jan 29, 2023 11:01am Jan 29, 2023 11:01am
Quoting dantpm
{quote} There appear to be a lot of people out there who disagree. Many label it as following institutional money flow others label it as following smart money and still others call it the smart money concept.
Yes none of them make any real money also
How to succeed in zero sum game?
  • #724,327
  • Jan 29, 2023 11:08am Jan 29, 2023 11:08am
Quoting Elknit
{quote} How do you know he/she is profitable when no Trade Explorer is linked?
I did a little due diligence beyond trade explorer and I am satisfied that his system works. In the post, I pointed out that these systems are worth exploring as a starting point. I could have been clearer that the responsibility lies for selecting any system and vetting it lies with the person doing the selection.
  • #724,328
  • Jan 29, 2023 11:12am Jan 29, 2023 11:12am
Quoting dempire1
{quote} The only people getting "attacked" here are the ones with big ego and nothing to back it up(show off wannabe gurus) or if you are like really dumb No one gets attacked by posting analysis and learning.
So what do you think about the GBP/USD direction?
You have an IQ lower than 90 if you interact with this user.
  • #724,329
  • Jan 29, 2023 11:14am Jan 29, 2023 11:14am
Quoting Kwt4x
{quote} you can watch video's in YouTube about Dow Theory, when understand it fully, you will see this in price action all the time. HHHL for uptrend, LHLL for downtrend {image} translated in chart, H4/D1/W1 {image} cheers,
In the black chart, can you label the lines?
You have an IQ lower than 90 if you interact with this user.
  • #724,330
  • Jan 29, 2023 11:16am Jan 29, 2023 11:16am
Quoting Uru
{quote} Hello Kwt4x: do you have any indicator with the Dow theory? what I found in tradingview of Aizen Mt, it is a free download indicator, it is not a page that makes it easy for you, it is a theory that is years old, and that nothing has been done ???, if you can guide me, I will I would appreciate it a lot, a hug and many pips!
Hello Uru,

you can use time-based zigzag, for example: if using M30 TF and want to read 6H Dow you use setting of 12 in ZZ.
just remember, you are not trading the M30 TF candles, you are trading 6H Dow reading.

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cheers,
"the public is not yet ready for it" W.D. GANN
  • #724,331
  • Jan 29, 2023 11:16am Jan 29, 2023 11:16am
Attached Image (click to enlarge)
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Quiet day Friday. Expect a break one way or another tomorrow. Not much news out though.
  • #724,332
  • Jan 29, 2023 11:18am Jan 29, 2023 11:18am
Quoting Ferna
{quote} In the black chart, can you label the lines?
White BB= 4H
Blue BB= D
Gold BB= W
"the public is not yet ready for it" W.D. GANN
  • #724,333
  • Jan 29, 2023 11:20am Jan 29, 2023 11:20am
Tomorrow will start trading in Frankfurt, let price build up a little since it gonna be a hell of a week, this week
More time in the market, does not mean you trade better!
  • #724,334
  • Jan 29, 2023 11:27am Jan 29, 2023 11:27am
Quoting Ferna
{quote} So what do you think about the GBP/USD direction?
I don't know
How to succeed in zero sum game?
  • #724,335
  • Edited 11:41am Jan 29, 2023 11:28am | Edited 11:41am
Quoting Ferna
{quote} So what do you think about the GBP/USD direction?
My advice, concentrate more on money management than direction but don't take my word for it (underwater at the mo with 10 SHORTS...), you need to experience it yourself....
  • #724,336
  • Jan 29, 2023 11:33am Jan 29, 2023 11:33am
Quoting dempire1
{quote} I don't know
Great post ...so much wisdom in only three words
  • #724,337
  • Jan 29, 2023 12:00pm Jan 29, 2023 12:00pm
Germany 40 is worth a look for a break out in the morning.
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  • #724,338
  • Jan 29, 2023 12:03pm Jan 29, 2023 12:03pm
My trading plan for tomorrow, subjected to changes.

I expect my current running short trade to hit TP (only gunning for 16 pips) from early fluctuations. That gives me 1.2396 to 1.2380. After which, I will be looking for shorts above 1.24, namely in the 1.2430 region, although I see a possible extension to 1.25. It is also interesting to note that EUR/USD is observing 1.0930 resistance so if we line it with Cable, we can short when Fiber hits that region.

Other things to note is that NZD/USD retained more strength than other XXX/USD pairs and JPY pairs are pushing highs of the year. Potential other trades that can be taken other than Cable.
  • #724,339
  • Jan 29, 2023 12:10pm Jan 29, 2023 12:10pm
Kissed the round number a minute or two ago, and then a swift 15-pips drop in the last few seconds
  • #724,340
  • Jan 29, 2023 12:14pm Jan 29, 2023 12:14pm
Waiting for up move tonight to sell later.. every structure shift on LTF is a sell sign
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