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Cable Update (GBPUSD)

  • #729,601
  • Feb 16, 2023 12:08pm Feb 16, 2023 12:08pm
Quoting Pat Chiko
{quote} GU maybe it reach target before high impact news later. Target is where "kink" is.{image}
GU

few more position to cash out tonight.
LQ sweep at demand zone are powerful indication of price rejection.
It will minimise drawdown to negligible.
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #729,602
  • Feb 16, 2023 12:16pm Feb 16, 2023 12:16pm
From what I can see on the H4 chart, the dollar is in trouble.
  • #729,603
  • Feb 16, 2023 12:17pm Feb 16, 2023 12:17pm
I like drawing haha..
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  • #729,604
  • Edited 12:33pm Feb 16, 2023 12:22pm | Edited 12:33pm
Quoting Waveskierrob
{quote} So you made profits going LONG and I'm in profit going SHORT on the same day with RED NEWS as well, so bottom line what does this tell us...
That's the beauty of trading........

After some time, I tend to prefer reading from people who are articulate and can express their thoughts effectively, particularly with regard to foresight and real-time information.

Hindsight post or information is useless to me.

For me, trading is a logical activity, not a religion.
I consider myself a very lazy trader and do not want to waste time sifting through thousands of pages to find one or two useful ideas that have likely already been discussed.

The difference between following the ideas of people like you, Coreg, Kareem, and Headland is that you provide real examples and facts, with a foresight view.
I must admit that I no longer read foresight hindsight posts, even if I am tagged in them. (correction)

The purpose of this thread is to encourage independent thinking and understanding.
Anyone hoping to find a good trading system won't find one in here.... It's exactly the opposite.


Regards

Pat Chiko
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #729,605
  • Feb 16, 2023 12:27pm Feb 16, 2023 12:27pm
Quoting Pat Chiko
{quote} That's the beauty of trading........ After some time, I tend to prefer reading from people who are articulate and can express their thoughts effectively, particularly with regard to foresight and real-time information. Hindsight post or information is useless to me. For me, trading is a logical activity, not a religion. I consider myself a very lazy trader and do not want to waste time sifting through thousands of pages to find one or two useful ideas that have likely already been discussed. The difference between following the ideas of...
"The purpose of this thread is to encourage independent thinking and understanding.
Anyone hoping to find a good trading system won't find one in here.... It's exactly the opposite."

"nail the on hit the head" ..there's a saying in there somewhere...
  • #729,606
  • Feb 16, 2023 12:39pm Feb 16, 2023 12:39pm
Quoting Waveskierrob
{quote} "The purpose of this thread is to encourage independent thinking and understanding. Anyone hoping to find a good trading system won't find one in here.... It's exactly the opposite." "nail the on hit the head" ..there's a saying in there somewhere...
Waveskie, allow me to point out that we have a bunch of systems used here. EW, HP, range trading, S/D zone, S/R, market profile, coin toss, revenge trading, moving avg.'s, indicators, quantitative analysis (statistical and mathematical modeling), and others I don't recognize. What other system possibly would you recommend for newcomers to this thread?
Always trade your own plan...I don't provide trading signals.
  • #729,607
  • Feb 16, 2023 12:41pm Feb 16, 2023 12:41pm
trading is a bit more than a system
but following a strategy is already something to start working on!
  • #729,608
  • Feb 16, 2023 12:43pm Feb 16, 2023 12:43pm
Quoting Coreg2004
{quote} Waveskie, allow me to point out that we have a bunch of systems used here. EW, HP, range trading, S/D zone, S/R, market profile, coin toss, revenge trading, moving avg.'s, indicators, quantitative analysis (statistical and mathematical modeling), and others I don't recognize. What other system possibly would you recommend for newcomers to this thread?
Coreg, is that a trick question?
  • #729,609
  • Feb 16, 2023 12:45pm Feb 16, 2023 12:45pm
Bears, do you want it or not?
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  • #729,610
  • Feb 16, 2023 12:45pm Feb 16, 2023 12:45pm
Quoting Coreg2004
{quote} Waveskie, allow me to point out that we have a bunch of systems used here. EW, HP, range trading, S/D zone, S/R, market profile, coin toss, revenge trading, moving avg.'s, indicators, quantitative analysis (statistical and mathematical modeling), and others I don't recognize. What other system possibly would you recommend for newcomers to this thread?
From what has been posted in the thread, there are almost no systems presented. But there are bits and pieces taken from those ideas and theories that you listed and posted along with some screen captures: But that hardly constitutes a system.
To free Gazans of Hamas, use whatever it takes.
  • #729,611
  • Feb 16, 2023 12:47pm Feb 16, 2023 12:47pm
Quoting Coreg2004
{quote} Waveskie, allow me to point out that we have a bunch of systems used here. EW, HP, range trading, S/D zone, S/R, market profile, coin toss, revenge trading, moving avg.'s, indicators, quantitative analysis (statistical and mathematical modeling), and others I don't recognize. What other system possibly would you recommend for newcomers to this thread?
Firstly I would like to point out that that quote in BLUE was from Pat C's post which I agree with....the system I would recommend to newcomers is their own...
  • #729,612
  • Edited 1:23pm Feb 16, 2023 12:52pm | Edited 1:23pm
Quoting Purple
{quote} what is this list for?
How to Vanquish Fear
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...government (governa = control, mente = mind, 'they' r telling u in front of ur face, hiding in plain site, that governments r mind control institutions/corporations, and, u do not hold any shares in the corporation so u have no say, no voting rites, elections/selections r just pacification ploys..wakey, wakey)
  • #729,613
  • Feb 16, 2023 12:54pm Feb 16, 2023 12:54pm
Quoting DrDave
{quote}From what has been posted in the thread, there are almost no systems presented. But there are bits and pieces taken from those ideas and theories that you listed and posted along with some screen captures: But that hardly constitutes a system.
I agree, here's my thoughts. Most systems are based on some of the theories/strategies Coreg listed above, and experience has taught me that to become a successful trader you must master all the core principles of price action. I purely trade based on Wave Theory, but I did not fully understand Wave Theory until I understood support, resistance, linear regression, currency and pair correlation etc. Out of all theories, the simple understanding of candle formation is what switched the lights on for me, and yet that is unfortunately the book that gets closed as soon as traders get to the first chapter.

Cheers
Guy
  • #729,614
  • Feb 16, 2023 12:54pm Feb 16, 2023 12:54pm
Quoting Waveskierrob
{quote} Firstly I would like to point out that that quote in BLUE was from Pat C's post which I agree with....the system I would recommend to newcomers is their own...
...





Always trade your own plan...I don't provide trading signals.
  • #729,615
  • Feb 16, 2023 12:56pm Feb 16, 2023 12:56pm
Quoting Pat Chiko
{quote} detailed analysis of economic indicators and events, {image}
From Previous post above.
Quoting lucaswalliam
Guys, do you know where to see accurate fundamental data interpretations? Been interested in this piece lately. Maybe it can save my helpless technical analysis.
Shall we continue....?

As far as we are all aware, price movements in Forex are generally caused by events in the outside world, such as news announcements, elections, storms, or changes in oil prices.

Sometimes these events are very unpredictable.
Additionally, technical factors can also cause the market to move, such as when the market hits a key level of support or resistance.

Occasionally, there are significant price moves that occur for no apparent reason.
One of the most interesting aspects of Forex is how news and price relate to each other.
For example, a news release that is very bearish for the dollar (much worse than expected) may lead to a weakening of the dollar against other currencies, but sometimes it does the complete opposite.

To better understand how Forex operates, it is helpful to understand the various players and their roles.
You could start by going to the Fed Reserve website and reading their ebook, which provides a good introduction.

Initially, I made the mistake of looking at Forex exclusively from a speculator's point of view, which limited my understanding of how the market moves.
Finally, it is important not to be fooled by what analysts say after a big price move takes place.
They often state a reason why it moved as though it's very obvious, but it isn't.

There's always news floating around, and if the price goes up, they report some bullish news.
If it goes down, they focus on the bearish stuff.
You can verify this by looking in some news archives, especially the dates of big news releases, and see how inconsistent it is.

In summary, everything I have written above is just based on my readings and observations.
I hope it helps you gain a better understanding of Forex.

Regards
Pat CHIKO
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #729,616
  • Feb 16, 2023 1:05pm Feb 16, 2023 1:05pm
Quoting Robinhood1
Informing SnailFx. We are taking the stairs to 0.9330 and be coming down by elevator to 0.9170. usdchf
Lets keep climbing. Pullback modified to below 0.9125. I am being a good man telling AI where it can release all the shit is collecting
POSTMASTER
  • #729,617
  • Feb 16, 2023 1:07pm Feb 16, 2023 1:07pm
Tomorrow is Friday..... whooo hoo ... Party time....

Not yet party, .....
Friday which is a special day in the forex market.
It's a day when we can see some drastic moves, often caused by traders themselves, as they try to close out their positions for the week.

This is particularly true for professional traders working for account management firms and other institutions.
They want to ensure that their positions close out positively for the week and avoid any negative movement during the weekend period when brokers are closed.
Pro traders, like everyone else, have quotas to fill.

Sometimes, the market moves as traders attempt to take profits at opportune points.
The key point to remember is that the market moves solely in response to traders' decisions.
Someone, at some point, made a decision to buy or sell for whatever reason, and that moves the market.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #729,618
  • Feb 16, 2023 1:09pm Feb 16, 2023 1:09pm
I better not say anything, canīt stop laughing
POSTMASTER
  • #729,619
  • Feb 16, 2023 1:11pm Feb 16, 2023 1:11pm
Quoting DrDave
{quote}From what has been posted in the thread, there are almost no systems presented. But there are bits and pieces taken from those ideas and theories that you listed and posted along with some screen captures: But that hardly constitutes a system.
Dave, I believe if someone is in this business for 1-3 years, the person has a playbook on what trades to take and knows the probable outcome.
1) setup
* entry- what triggers the trade (SH/SL taken out on STF, 2BR, a momentum indicator, moving avg. cross over, etc.)
* exit - target, trailing stop, stop loss
* MM- stop loss, trailing stop, lot size, $ amount risk
and then waiting for the outcome.
Always trade your own plan...I don't provide trading signals.
  • #729,620
  • Feb 16, 2023 1:17pm Feb 16, 2023 1:17pm
Quoting Coreg2004
{quote} Waveskie, allow me to point out that we have a bunch of systems used here. EW, HP, range trading, S/D zone, S/R, market profile, coin toss, revenge trading, moving avg.'s, indicators, quantitative analysis (statistical and mathematical modeling), and others I don't recognize. What other system possibly would you recommend for newcomers to this thread?
Hi C2004. Allow me to mention one of the most important, news
POSTMASTER
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