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Cable Update (GBPUSD)

  • #730,401
  • Feb 20, 2023 6:52am Feb 20, 2023 6:52am
Quoting KareemAliFx
{quote} today is a bank holiday, there is no ny open
NY will open.

Liqudity will be less.

Erratic move can happen. Spreads may be high.
Intraday only.
  • #730,402
  • Feb 20, 2023 6:54am Feb 20, 2023 6:54am
Quoting Indigo45
{quote} But unfortunately that strategy is not clearly disclosed. If you can explain that strategy...that would be great.
Navk's strategy for the London open is to wait until 4 am est then look at the 1 hr candle that formed at 3 am and take a trade in the opposite direction.
There are some days when this doesn't work typically because of momentum in the opposite direction.
Most of Navk's trades tend to be smaller, 50-100 point moves.
Hope this helps. You can also read the charts he posts.
  • #730,403
  • Feb 20, 2023 7:04am Feb 20, 2023 7:04am
Quoting navk
{quote} NY will open. Liqudity will be less. Erratic move can happen. Spreads may be high.
IT IS A HOLIDAY ! Here is proof! Don’t believe me still? Then don’t reply ! I don’t like losing brain cells

https://www.tradinghours.com/markets/nyse
Master your mind. Master Trading.
  • #730,404
  • Feb 20, 2023 7:04am Feb 20, 2023 7:04am
US (CME) trading hours
https://www.cmegroup.com/trading-hou...0&pageNumber=1
  • #730,405
  • Feb 20, 2023 7:05am Feb 20, 2023 7:05am
Quoting dantpm
{quote} Navk's strategy for the London open is to wait until 4 am est then look at the 1 hr candle that formed at 3 am and take a trade in the opposite direction. There are some days when this doesn't work typically because of momentum in the opposite direction. Most of Navk's trades tend to be smaller, 50-100 point moves. Hope this helps. You can also read the charts he posts.
I think the operative word here was "clearly". What you wrote is "in a nutshell". As far as I know he didn't disclose any more detail than what you collected in your post.
  • #730,406
  • Feb 20, 2023 7:07am Feb 20, 2023 7:07am
Quoting noox
{quote} I think the operative word here was "clearly". What you wrote is "in a nutshell". As far as I know he didn't disclose any more detail than what you collected in your post.
I am pretty sure that there isn't any more to it than that. I have been following him for months.
  • #730,407
  • Feb 20, 2023 7:10am Feb 20, 2023 7:10am
Time to take the short with H1 three swing up correction is done, if we get the impulse down should be very nice for swing 3 , possibly 2-300 pips
Follow The Markets Structure - Patience and Discipline
  • #730,408
  • Feb 20, 2023 7:13am Feb 20, 2023 7:13am
Quoting pipfarm
Time to take the short with H1 three swing up correction is done, if we get the impulse down should be very nice for swing 3 , possibly 2-300 pips
Does the market ever move in an impulse in either direction? Aren't there typically gyrations up and down as well as liquidity sweeps prior to a move?
  • #730,409
  • Feb 20, 2023 7:16am Feb 20, 2023 7:16am
Quoting KareemAliFx
{quote} IT IS A HOLIDAY ! Here is proof! Don’t believe me still? Then don’t reply ! I don’t like losing brain cells https://www.tradinghours.com/markets/nyse
you mean NY stock market. ok.

FX moves 24 x 5 for me.
Intraday only.
  • #730,410
  • Feb 20, 2023 7:19am Feb 20, 2023 7:19am
Quoting noox
{quote} I think the operative word here was "clearly". What you wrote is "in a nutshell". As far as I know he didn't disclose any more detail than what you collected in your post.
noox, the first hour of trading after opening (any session) is called the initial balance (IB). You can trade it as a range in direction of the trend or as a counter-trend, just aline it with your strategy. Let's see how the price will oscillate around NY opening for now.
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Always trade your own plan...I don't provide trading signals.
  • #730,411
  • Feb 20, 2023 7:20am Feb 20, 2023 7:20am
Quoting dantpm
{quote} Does the market ever move in an impulse in either direction? Aren't there typically gyrations up and down as well as liquidity sweeps prior to a move?
When you say either direction, it depends on what price action precedes the current pa. Yes corrections can have 2 impulses or 1.
Follow The Markets Structure - Patience and Discipline
  • #730,412
  • Feb 20, 2023 7:22am Feb 20, 2023 7:22am
Quoting navk
{quote} you mean NY stock market. ok. FX moves 24 x 5 for me.
it is the stock market and banks that are closed today. NY is closed that’s the only point I was getting across. I’m well aware of forex being open still. New York stock exchange does impact FX big time as USD is heavily involved. IT IS A HOLIDAY IN THE US TODAY that’s all I was saying. I’m ignoring you now because I feel like if I told you the sky was blue you would argue with me otherwise .
Master your mind. Master Trading.
  • #730,413
  • Feb 20, 2023 7:23am Feb 20, 2023 7:23am
I am reminded by my Firm, of every tradeble/Non tradeble instrument on any holiday, even saturday and sunday
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Intraday only.
  • #730,414
  • Feb 20, 2023 7:24am Feb 20, 2023 7:24am
Quoting navk
{quote} you mean NY stock market. ok. FX moves 24 x 5 for me.
I believe that since the CME (Chicago) is operating on a reduced schedule, there is a belief that trading volume will be down. Here is a tick chart summary of volume. So far it isn't having much of an impact. US and Canadian Institutional traders probably won't be active today. Everyone else can trade using the automated redundant exchanges.
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  • #730,415
  • Feb 20, 2023 7:27am Feb 20, 2023 7:27am
Quoting dantpm
{quote} I believe that since the CME (Chicago) is operating on a reduced schedule, there is a belief that trading volume will be down. Here is a tick chart summary of volume. So far it isn't having much of an impact. US and Canadian Institutional traders probably won't be active today. Everyone else can trade using the automated redundant exchanges. {image}
Yes, volume ( liquidity ) will be less.

FX market moves 24x5.

We trade FX, and not stocks here.

There were days, on holidays, FX made large moves.
Intraday only.
  • #730,416
  • Feb 20, 2023 7:28am Feb 20, 2023 7:28am
Quoting Coreg2004
{quote} noox, the first hour of trading after opening (any session) is called the initial balance (IB). You can trade it as a range in direction of the trend or as a counter-trend, just aline it with your strategy. Let's see how the price will oscillate around NY opening for now. {image}
Thank you for the reply and I'm certainly interested in developing a proper strategy around this. I think many in this thread would profit from this. My point was that "fade the market after 1 hour of the open" is more like a "tip" and definitely not a "clear strategy".
  • #730,417
  • Feb 20, 2023 7:28am Feb 20, 2023 7:28am
US bank may holiday, but cable thread is never die
https://breakpullback.com
  • #730,418
  • Feb 20, 2023 7:30am Feb 20, 2023 7:30am
Once again, Immaturity at its best.
Intraday only.
  • #730,419
  • Feb 20, 2023 7:33am Feb 20, 2023 7:33am
Quoting dantpm
{quote} His trading statements from MetaTrader suggest that it is a real account. What other proof would you suggest would be acceptable to you? Has any other trader that you know offered or been asked to provide more proof than that?
how does his trading statements suggest it is a live account? I must have missed something. I asked cause it would be very inspiring..that’s all
I think u are reading way to deep into this
  • #730,420
  • Feb 20, 2023 7:35am Feb 20, 2023 7:35am
Quoting KareemAliFx
{quote} it is the stock market and banks that are closed today. NY is closed that’s the only point I was getting across. I’m well aware of forex being open still. New York stock exchange does impact FX big time as USD is heavily involved. IT IS A HOLIDAY IN THE US TODAY that’s all I was saying. I’m ignoring you now because I feel like if I told you the sky was blue you would argue with me otherwise .
im waiting for your trade calling... open n close doesn't bother me
demo tok kenal barey boh!
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