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Cable Update (GBPUSD)

  • #729,381
  • Feb 16, 2023 4:21am Feb 16, 2023 4:21am
Quoting Pat Chiko
{quote} Gauge on the meter. I understand how it feel by looking at the meter.{image}
Operating on the smaller t/f's has the advantage that even in small pip ranges there are generally good hi-prob trading opportunities. For eg I have had 5 trades this London morning since 07:30am London time own trading session start.
Trader with an Edge.
  • #729,382
  • Feb 16, 2023 4:24am Feb 16, 2023 4:24am
Blue bulls , Hold tight to supply zone then that's
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I'm enjoying the wins because I was once terrified by loses
  • #729,383
  • Feb 16, 2023 4:30am Feb 16, 2023 4:30am
Quoting Headland
{quote} Operating on the smaller t/f's has the advantage that even in small pip ranges there are generally good hi-prob trading opportunities. For eg I have had 5 trades this London morning since 07:30am London time own trading session start.
Real talk.
For instance, there's a low-risk SHORT ripe for the taking right now @ 2062
It's less risky cos SL can be safely planted just around daily high.
But I seek only between 5 - 10 pips is all.
  • #729,384
  • Feb 16, 2023 4:30am Feb 16, 2023 4:30am
boring or not, it was good to buy at 2050 !
  • #729,385
  • Feb 16, 2023 4:31am Feb 16, 2023 4:31am
Quoting smtchris71
Buy here 1.2045 tp 1.2100. No stop loss
Trade manually closed at 1.2060
  • #729,386
  • Feb 16, 2023 4:32am Feb 16, 2023 4:32am
Quoting BrainBucks
{quote} Real talk. For instance, there's a low-risk SHORT ripe for the taking right now @ 2062 It's less risky cos SL can be safely planted just around daily high.
Hi, I have no shorting set-up there (yet?) so, so far for me, unless something changes on my charts/indicators - an upside break of it is looking more probable, (doesn't mean to say it will happen of course,) but yeah it's a 2nd test of that potential resistance zone to current dly hi. G/L

1hr below
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Trader with an Edge.
  • #729,387
  • Feb 16, 2023 4:49am Feb 16, 2023 4:49am
Quoting BrainBucks
{quote} Real talk. For instance, there's a low-risk SHORT ripe for the taking right now @ 2062 It's less risky cos SL can be safely planted just around daily high. But I seek only between 5 - 10 pips is all.
I'm now tempted by the last 2 x 15min closes lol! But will sit it out.
Trader with an Edge.
  • #729,388
  • Feb 16, 2023 4:55am Feb 16, 2023 4:55am
One thing is clear, once this push-and-pull breaks, price action is going to be extremely volatile...
  • #729,389
  • Feb 16, 2023 5:00am Feb 16, 2023 5:00am
Another rejection of 12070 area. Slow morning time for another coffee
Insane in the Brain..
  • #729,390
  • Feb 16, 2023 5:01am Feb 16, 2023 5:01am
Quoting Moty
it will scalp until data {image}
I am with you
  • #729,391
  • Feb 16, 2023 5:02am Feb 16, 2023 5:02am
In the 5 min timeframe, there have been 3 tests to the 1.206-ish area. It occurs to me that this kind of testing is usually followed by a small spike up in this pair, searching for liquidity followed by a drop.
  • #729,392
  • Feb 16, 2023 5:02am Feb 16, 2023 5:02am
...look @ those 3 spikes on last 1hr closes now....bulls certainly struggling to get upside of current dly hi...another drop to some liquidity for a 3rd attempt or will the bears build on the drop?
Trader with an Edge.
  • #729,393
  • Feb 16, 2023 5:05am Feb 16, 2023 5:05am
Quoting Headland
...look @ those 3 spikes on last 1hr closes now.
I still see this as a potential liquidity sweep...
  • #729,394
  • Feb 16, 2023 5:06am Feb 16, 2023 5:06am
Quoting BrainBucks
{quote} Real talk. For instance, there's a low-risk SHORT ripe for the taking right now @ 2062 It's less risky cos SL can be safely planted just around daily high. But I seek only between 5 - 10 pips is all.
Your 10 pip move was there.
  • #729,395
  • Feb 16, 2023 5:07am Feb 16, 2023 5:07am
Quoting dantpm
{quote} I still see this as a potential liquidity sweep...
Well there's a prev 30min sw lo zone = prev supp = pot supp now as 1st pot area where liquidity may exist?

1hr below
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Trader with an Edge.
  • #729,396
  • Feb 16, 2023 5:11am Feb 16, 2023 5:11am
I trust my H4 more than those lower TF's. Just my thing..

Dr.Dave: "Snail, all of the time frames matter"

I know Dave.. haha , but.. I like H4.

I said this to Pat way back that H4 is an anomaly.
  • #729,397
  • Feb 16, 2023 5:18am Feb 16, 2023 5:18am
Quoting SnailFX
I trust my H4 more than those lower TF's. Just my thing.. Dr.Dave: "Snail, all of the time frames matter" I know Dave.. haha , but.. I like H4. I said this to Pat way back that H4 is an anomaly.
It's all personal preference and playing to your own strengths. You have to recognise what type of person you are and build your trading around that. So as my wife never tires of telling me, I have no patience, nil, zero, niet, nada! So for me I want to do 4hrs a day (average) and I prefer instant gratification, (!,) so the smaller t/f's scalping suit my personality traits.

I do use 1hr/4hr/dly for potential supp/res zones and tyrend/range analysis, and try to enter on the smallest t/f that sets up. Obviously, in a dly or wkly pot supp/res/sbr/rbs zone it is generally more difficult to do so on a 1min or 5min, so the t/f will be higher, even up to 1hr/4hr.
Trader with an Edge.
  • #729,398
  • Feb 16, 2023 5:21am Feb 16, 2023 5:21am
Quoting Headland
{quote} It's all personal preference and playing to your own strengths. You have to recognise what type of person you are and build your trading around that. Ss my wife never tires of telling me, I have no patience, nil, zero, niet, nada! So for me I want to do 4hrs a day (average) and I prefer instant gratification, so the smaller t/f's scalping suit my personality traits. I do use 1hr/4hr/dly for potential supp/res zones and try to enter on the smallest t/f that sets up. Obviously, in a dly or wklypot supp/res/sbr/rbs zone it is difficult to do...
Irony. I don't have patience to look at lower TF's, but I think I have the patience if I'm trading longer TF and not looking at my trades. As I'm doing now, out of house, drinking coffee in bar. Can't close my trade even if I want to hahah.
  • #729,399
  • Feb 16, 2023 5:21am Feb 16, 2023 5:21am
Quoting Headland
{quote} It's all personal preference and playing to your own strengths. You have to recognise what type of person you are and build your trading around that. Ss my wife never tires of telling me, I have no patience, nil, zero, niet, nada! So for me I want to do 4hrs a day (average) and I prefer instant gratification, so the smaller t/f's scalping suit my personality traits. I do use 1hr/4hr/dly for potential supp/res zones and tyrend/range analysis, and try to enter on the smallest t/f that sets up. Obviously, in a dly or wklypot supp/res/sbr/rbs...
Funny how that works, I have a wife as well who keeps on reminding me of various shortcomings as well.
  • #729,400
  • Feb 16, 2023 5:23am Feb 16, 2023 5:23am
Meybe after today PPI data.
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