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Cable Update (GBPUSD)

  • #731,981
  • Feb 24, 2023 11:38am Feb 24, 2023 11:38am
Quoting Whale
Weekend is calling. bye all . i have 0 clue about next week
Long to around 1.2340
POSTMASTER
  • #731,982
  • Feb 24, 2023 11:44am Feb 24, 2023 11:44am
Quoting Robinhood1
{quote} Long to around 1.2340
gracias RH

possible.

i think dxy need to get a another lift and then reverse a little.
  • #731,983
  • Feb 24, 2023 11:49am Feb 24, 2023 11:49am
Quoting Coreg2004
{quote} I gave you at the morning...{image}Edit: Whale, we have a mess...Hard to predict with the swings of 100-120 pips.{image}{image}
yeah same conflict, dxy is the key.
  • #731,984
  • Feb 24, 2023 12:01pm Feb 24, 2023 12:01pm
Quoting Waveskierrob
{quote} ...and another one SHORT 1.1965 no sl no tp
Closed last SHORT 1.1945 +20 pips......have a good weekend one and all...
  • #731,985
  • Feb 24, 2023 12:04pm Feb 24, 2023 12:04pm
Quoting AlfieSolomon
Can we get 10 pips everyday form GU with low or zero drawdown. I think it's possible
Yes I have created Trade Explore with small deposit. Target is 10-20 Pips in total. for this account I have my rules. Usually I wait for average daily range to complete and when price is at daily S/R I counter trade for 5-10 pips. Moreover, when a candle breaks previous day high/low with average momentum, I counter trade for 3-5 Pips target. same I do when price breaks current week high/low.
I draw daily SR lines and when price approaches, I counter trade for 5-10 pips.
I don't get greedy...I have my rules, I never like to break my rules.
One more thing. I don't place SL... rather I open counter trade (hedge) if price clearly goes against. I leave this trade until daily range is complete and price is expected to retrace.
Daily range must be complete at Daily S/R... other wise wait until it is complete.
I mainly trade EURUSD...USDCAD, AUDUSD, AUDNZD, AUDCAD...
One of the setup is explained in the image, If this setup forms I risk 5% and Target at 38% Fib against daily trend, 61% in line with trend.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDCAD Strategy.png Size: 40 KB

Thanks for reading.
Regards.

Edit: MTF MA is Multitime frame moving average 200EMA. this is calculated on daily candles, regardless of the current time frame. Thanks
  • #731,986
  • Feb 24, 2023 12:06pm Feb 24, 2023 12:06pm
Quoting DrDave
{quote} How are you defining low drawdown?
2-3 pips Max
  • #731,987
  • Feb 24, 2023 12:08pm Feb 24, 2023 12:08pm
Quoting AlfieSolomon
{quote} 2-3 pips Max
Simply Impossible... absolutely NOT
  • #731,988
  • Feb 24, 2023 12:22pm Feb 24, 2023 12:22pm
Quoting Coreg2004
{quote} I gave you at the morning...{image}Edit: Whale, we have a mess...Hard to predict with the swings of 100-120 pips.{image}{image}
this week ATR was not completed I think we might see another fall next week
MY OPINION NOT FINANCIAL ADVISE
  • #731,989
  • Feb 24, 2023 12:25pm Feb 24, 2023 12:25pm
USD/JPY
Short... target the wick bottom for now. (Exploratory trade, probably a market maker testing the market to see how low buyers are), 134.8 - 134.5 on the extreme side, then some sideways action before going north. Looking like a possibly dovishfed report, but let's see what the next couple of weeks bring. For now IMO DXY has a small pullback then finishes the uptrend that will then give us 7-10 days of bearish then sideways movement. Wed March 15th I switch back to bullish if my previous call downward pans out. lets see

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 12 KB
Don't compare your trades to others. Most often the masses are the asses
  • #731,990
  • Feb 24, 2023 12:26pm Feb 24, 2023 12:26pm
Quoting Indigo45
{quote} Yes I have created Trade Explore with small deposit. Target is 10-20 Pips in total. for this account I have my rules. Usually I wait for average daily range to complete and when price is at daily S/R I counter trade for 5-10 pips. Moreover, when a candle breaks previous day high/low with average momentum, I counter trade for 3-5 Pips target. same I do when price breaks current week high/low. I draw daily SR lines and when price approaches, I counter trade for 5-10 pips. I don't get greedy...I have my rules, I never like to break my rules....
you don’t need a notebook to make 10pips make sure u double ur profit if the first attempt fail example first attempt 1:1 second 1:2 third 1:3 I do this sometime
MY OPINION NOT FINANCIAL ADVISE
  • #731,991
  • Feb 24, 2023 12:33pm Feb 24, 2023 12:33pm
Quoting ninner
{quote} yeah he said he was going to give one on supply and demand and he never showed !!!
hahaha he i not serious
  • #731,992
  • Feb 24, 2023 12:34pm Feb 24, 2023 12:34pm
Added extra shorts earlier to end things with a bang
Master your mind. Master Trading.
  • #731,993
  • Feb 24, 2023 1:04pm Feb 24, 2023 1:04pm
Quoting AlfieSolomon
{quote} 2-3 pips Max
Then no, it is not possible to consistently reach 10 pips profit with a maximum of 3 pips drawdown.

Recently, I did a little experiment for 25 several consecutive trades on 1 instrument.
this was on a live account, "zero spread", with commission.

Target: 41 points
5 trades had 0 DD
24 had less than 91 points

drawdown range
bin.......frequency
0-30 ......13
31-60..... 6
61-90......5
91-120....0
121-150..1
>150......0
To free Gazans of Hamas, use whatever it takes.
  • #731,994
  • Feb 24, 2023 1:06pm Feb 24, 2023 1:06pm
Have a great weekend folks

catch ya Sunday
Insane in the Brain..
  • #731,995
  • Feb 24, 2023 1:09pm Feb 24, 2023 1:09pm
Quoting eyefeelsix
{quote} in-out from yesterday, the battle is still continue.. ~ hit the jackpot on the weekend is my goal, win or nothing lol {image}
I'm not sure the fifth will occur 3 hours before the market close.

profits taking closed all orders --- see you soon
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM5.png Size: 19 KB
https://breakpullback.com
  • #731,996
  • Feb 24, 2023 2:07pm Feb 24, 2023 2:07pm
In slow motion, 11900 - 11880 would be nice to close the week.
20ema atempting to cross below 200ema.
Attached Image (click to enlarge)
Click to Enlarge Name: _20230224_200329.JPG Size: 170 KB
  • #731,997
  • Feb 24, 2023 2:19pm Feb 24, 2023 2:19pm
A couple of wins this week.
Will be waiting for a retest of resistance above to try shorting again next week.
Have a great weekend
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH4.png Size: 7 KB
Compulsions can be hard to resist
  • #731,998
  • Feb 24, 2023 2:47pm Feb 24, 2023 2:47pm
Scalper paradise
I am planning to exit my long at 1.19524 at short it for 1 scalp at least
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_2023-02-24-22-46-14-929-edit_net.metaquotes.metatrader4.jpg Size: 654 KB
yes yes yes
  • #731,999
  • Feb 24, 2023 3:15pm Feb 24, 2023 3:15pm
USD seems to have taken the support area seriously.
Looks to be heading back to 109 area IMO.
A wonderful shorting opportunity if it gets there.

GU looks to be pushing hard to get down towards the 1650's from what I can see.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDOLLARMonthly.png Size: 8 KB
Click to Enlarge Name: USDOLLARWeekly.png Size: 12 KB
Click to Enlarge Name: GBPUSDDaily.png Size: 9 KB
Click to Enlarge Name: GBPUSDWeekly.png Size: 9 KB
Compulsions can be hard to resist
  • #732,000
  • Feb 24, 2023 3:16pm Feb 24, 2023 3:16pm
Quoting Coreg2004
If you are an income trader/ day trader, do this every day and you will be fine. {image}
Hi Coreg,
I want to ask a question about the chart you posted. The 50% retracement level at 2075 is from which swing? Because the swing high to low of that days has 38.2% retracement at 2075.
Thank you in advance.
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