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Cable Update (GBPUSD)

  • #727,181
  • Feb 8, 2023 4:31am Feb 8, 2023 4:31am
Quoting pipfarm
There are some nice looking possible reversals setting up on audusd , usdchf, usdjpy,usdcad, nzdusd, audcad, chfjpy,
All reversed from H1 into 4H corrective swing
Follow The Markets Structure - Patience and Discipline
  • #727,182
  • Feb 8, 2023 4:34am Feb 8, 2023 4:34am
Okey, we should expect the spike today as we have FOMC member with High-Impact expected today. Prepare to trade accordingly and not shit yourself as I did yesterday hahah.
  • #727,183
  • Feb 8, 2023 4:41am Feb 8, 2023 4:41am
Quoting SnailFX
Okey, we should expect the spike today as we have FOMC member with High-Impact expected today. Prepare to trade accordingly and not shit yourself as I did yesterday hahah.
@Wavegarrick handled it nicely. He selected lot sizes for his multiple trades that he could hold through the 950-point swing and ended up profiting on all of his trades.
  • #727,184
  • Feb 8, 2023 4:41am Feb 8, 2023 4:41am
Quoting SnailFX
GBP/JPY 15M Chart Went Short at 158.126 SL 25 pips 15M candle broke the S it seems. Reasoning behind not waiting for confirmation: H4 Chart suggests Short as does Daily. I was just waiting for some lower TF to break some S and it did on 15M. Trade: Risky, we still don't have lower TF's confirming Short. {image} {image} {image}
SL hit!

Kuroda: "Sorry son, maybe next time."
Snail: "Whatever dude.."

Haha
  • #727,185
  • Feb 8, 2023 4:42am Feb 8, 2023 4:42am
A possible selling pressure
Attached Image (click to enlarge)
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  • #727,186
  • Feb 8, 2023 4:45am Feb 8, 2023 4:45am
Quoting dantpm
{quote} @Wavegarrick handled it nicely. He selected lot sizes for his multiple trades that he could hold through the 950-point swing and ended up profiting on all of his trades.
He's on another level..
I don't possess this kind of patience. No way..

Among the best swing traders in my opinion.
  • #727,187
  • Feb 8, 2023 4:48am Feb 8, 2023 4:48am
Can anybody tell me what 'scaled out' means, i added a screenshot to give context, it says scaled out by the latest trade underneath the pair?
Attached Image (click to enlarge)
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  • #727,188
  • Feb 8, 2023 4:49am Feb 8, 2023 4:49am
Has the bulls finally ran out of steam? It's been a very boring few hours with the range actions, let's see if we will get some actions before fed william speaks.
  • #727,189
  • Feb 8, 2023 4:51am Feb 8, 2023 4:51am
Quoting Finndis
Can anybody tell me what 'scaled out' means, i added a screenshot to give context, it says scaled out by the latest trade underneath the pair? {image}
"Scale out" in forex trading refers to a strategy of closing a portion of a trade that has become profitable, instead of exiting the entire position at once. (me used Partial TP)
The idea is to lock in some profits while leaving the remaining position open to potentially generate more profits.

The decision of how much of the position to close is based on a number of factors such as the trader's risk tolerance, market conditions, and the level of profits already achieved.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #727,190
  • Feb 8, 2023 4:52am Feb 8, 2023 4:52am
Quoting Pat Chiko
{quote} "Scale out" in forex trading refers to a strategy of closing a portion of a trade that has become profitable, instead of exiting the entire position at once. (me used Partial TP) The idea is to lock in some profits while leaving the remaining position open to potentially generate more profits. The decision of how much of the position to close is based on a number of factors such as the trader's risk tolerance, market conditions, and the level of profits already achieved.
thank you
  • #727,191
  • Feb 8, 2023 4:52am Feb 8, 2023 4:52am
Quoting Finndis
Can anybody tell me what 'scaled out' means, i added a screenshot to give context, it says scaled out by the latest trade underneath the pair? {image}
Some brokers allow you to partially close trades.
It is also possible to open progressively larger trades in the opposite direction and then once the volume from the initial trade is covered simply offset all the transactions.
  • #727,192
  • Feb 8, 2023 4:59am Feb 8, 2023 4:59am
Big news coming soon. no position atm
Attached Image (click to enlarge)
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Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #727,193
  • Feb 8, 2023 5:02am Feb 8, 2023 5:02am
CPI M/M forecasted at 0.5% from previous -0.1%. (USD)
This could give boost to USD next week. Something to pay attention to.
  • #727,194
  • Feb 8, 2023 5:03am Feb 8, 2023 5:03am
Will probably take a short on EUR/JPY as soon as it shows some bearish candles on the almost reached resistance level, after the short i will buy back to catch the possible move up at the next support level, view screenshot for better context. What do you guys think?
Attached Image (click to enlarge)
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  • #727,195
  • Feb 8, 2023 5:10am Feb 8, 2023 5:10am
Quoting Han2019
Has the bulls finally ran out of steam? It's been a very boring few hours with the range actions, let's see if we will get some actions before fed william speaks.
What can he say? wasn't Powell the star of the show yesterday?
Do they control different policies? sorry my knowledge base not so good.
You have an IQ lower than 90 if you interact with this user.
  • #727,196
  • Feb 8, 2023 5:11am Feb 8, 2023 5:11am
Quoting SnailFX
Okey, we should expect the spike today as we have FOMC member with High-Impact expected today. Prepare to trade accordingly and not shit yourself as I did yesterday hahah.
what are you expecting from this hawkishness or Dovishness?

Cause according to Powell deflation has already started
I'm enjoying the wins because I was once terrified by loses
  • #727,197
  • Feb 8, 2023 5:11am Feb 8, 2023 5:11am
Quoting Finndis
Will probably take a short on EUR/JPY as soon as it shows some bearish candles on the almost reached resistance level, after the short i will buy back to catch the possible move up at the next support level, view screenshot for better context. What do you guys think? {image}
It sounds like you have a plan, just be aware that the bulls still boss the weekly and monthly on this pair.

EDIT: Here's the immediate trading channel for the daily.

Trade safe.
Guy
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  • #727,198
  • Feb 8, 2023 5:15am Feb 8, 2023 5:15am
Quoting Moty
{quote} Crooky mf Switched to short Tp 1.20000 {image}
lol
  • #727,199
  • Feb 8, 2023 5:16am Feb 8, 2023 5:16am
Quoting Erto
{quote} what are you expecting from this hawkishness or Dovishness? Cause according to Powell deflation has already started
It doesn't matter what 'we' expect, it is all about what the MM's want to do with the market.
Powell is the grand poobah and his words carry more weight. In any event, the market will do what it wants to do independent of the content of the speech!
  • #727,200
  • Feb 8, 2023 5:17am Feb 8, 2023 5:17am
Quoting DrDave
{quote}{quote} This confirms the trend, it isn't an entry or exit signal.
13 and 48 periods EMA's were supposed to be the most profitable combination according to a study that I read. This is an important obaservation: 48/13 ~4.[/quote]

486 on 5 min tf buy everytime it drop below on an uptrend. selling viceversa
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