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Cable Update (GBPUSD)

  • #732,101
  • Feb 26, 2023 3:11pm Feb 26, 2023 3:11pm
Cheers fellow traders, love you all, with no exception. And wow

Bloody laughable loveable thread !!! So much so, that I never quite know where to start, where to go, or where to end, when I venture in this other dimension

Once I open the GbpUsd thread door, I am taken away to a faraway land where nothing and everything is unrecognizable, and where the truth "lies".

Thank you so much for sharing.

Size doesn't matter(or anything else for that matter, shape, smell, quality, etc)

Keep on being yourself, that's what matters

Diversity of views is key to trading success in the long run

Have a wonderful trading week folks !

P.S this man here just entered the "GbpUsd thread" "where the truth 'lies'" dimension
Attached Image (click to enlarge)
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If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #732,102
  • Feb 26, 2023 3:15pm Feb 26, 2023 3:15pm
Quoting pipcenturion
{quote} First let me say a big thanks to you sir for taking out time to answer my questions. Regarding the bolded, I am of the opinion that a higher sample population will give a more precise and stable value. Secondly, I do not target little pips like 10 or 20. For any pair that I trade, I aim at making at least 70% of the instrument's average daily range. Sometimes I make slightly less than 70% but that is the baseline with which I measure my performance. Where I come from, 70% is the lower limit for an A. So I always use this as the metric for...
I am of the opinion that a higher sample population will give a more precise and stable value.
If that is your aim, then it would be worthwhile to check an even larger ADR setting, such as 500 or even 1000. This will give you a "baseline" to plot the smaller ADRs against.

I aim at making at least 70% of the instrument's average daily range.
It would likely be of value to also know 20% of the ADR.

Where I come from, 70% is the lower limit for an A.
Hmmm. The institute where I competed my last graduate studies had 85% as the lower limit. I don't use such a metric for performance measurement. I ask, "Has the 'value' of this task/project reached a level considered adequate to call it completed? If yes, is the additional time and effort expected to be required to increase the 'value' by some significant amount small enough to make it worthwhile to continue?"
To free Gazans of Hamas, use whatever it takes.
  • #732,103
  • Feb 26, 2023 3:16pm Feb 26, 2023 3:16pm
Quoting BigNumbers
USD is very strong. All my forecast is in favor of the dollar and also the Canadian dollar
Just curious to know how you determined that USD is "very strong".
To free Gazans of Hamas, use whatever it takes.
  • #732,104
  • Feb 26, 2023 3:18pm Feb 26, 2023 3:18pm
Quoting dempire1
{quote} what strategy are you trading?
I look for push/manipulation to one side then for accumulation of orders/reversal and then trade with small SL and larger TP and always anticipate average daily range. Something like that, very simple strategy on 5-15min timeframe however it needs to understand market structure and ofc there are some loses along the way.
  • #732,105
  • Feb 26, 2023 4:00pm Feb 26, 2023 4:00pm
Quoting DrDave
{quote} Just curious to know how you determined that USD is "very strong".

The index of any currency pair can give you an insight but you can also do it with the currency pair itself...

when there are 4 levels to sell or buy and the distance between each level is far apart.. and price breaks the first level, then you can measure the distance in pips between these levels which the pair is meant to cover.... This will determine the strength of that pair.. but you also need to use another method to find entry... this will only tell you the overall direction of the trend but usually price mess around so badly in these areas because the big players take entry in these levels.. If you think i am wrong study the thick black line on GU i sent to you.


AUD is very weak and USD is very strong..... so pair "the very weak currency" versus and "the very strong one" .... then look at price action before taking entry...AUDUSD is a good pair to short... Once price goes above the thick line on AUDUSD this is a different ball game and often times only news can influence this setup. then you look at the price action again... price action is highly needed for entry.. The engulfing candle is very important.

When price arrive fresh demand or fresh supply level you should expect two scenarios ... Resupply... or redemand

For Example the levels on thick black lines on GU are support levels, when price break below... pounds will lose its strength and price will fall to the next thick black level...

Now the optimum trade entry occur on the second line because the big players took their entry on the first line and it is always difficult to go with them on the first line... the second line is less manipulative and it is the optimum trade entry for good traders..
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSD_2023-02-26_13-33-50.png Size: 30 KB
Click to Enlarge Name: AUDUSD_2023-02-26_13-45-43.png Size: 30 KB
My telegram: https://t.me/avidforex
  • #732,106
  • Edited 4:12pm Feb 26, 2023 4:01pm | Edited 4:12pm
usdchf
POSTMASTER
  • #732,107
  • Feb 26, 2023 4:11pm Feb 26, 2023 4:11pm
USDCAD buy orders placed at 1.35000 area
Master your mind. Master Trading.
  • #732,108
  • Feb 26, 2023 4:16pm Feb 26, 2023 4:16pm
Quoting Robinhood1
{quote} Mayor reverse to the upside today. I am dragging the Algo with me.
Bitcoin
POSTMASTER
  • #732,109
  • Feb 26, 2023 4:16pm Feb 26, 2023 4:16pm
Quoting Robinhood1
usdchf
CHF is weak the index of chf is down... This USDCHF will continue going up.... it may retrace to the black line. but it will start going up... Usually i'll wait to confirm the price action before entry..
Attached Image (click to enlarge)
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My telegram: https://t.me/avidforex
  • #732,110
  • Feb 26, 2023 4:19pm Feb 26, 2023 4:19pm
Usdcad has a bit of room to the upside and then its dead.
POSTMASTER
  • #732,111
  • Feb 26, 2023 4:20pm Feb 26, 2023 4:20pm
Quoting KareemAliFx
USDCAD buy orders placed at 1.35000 area

USDCAD is likely to range in this week because CAD is going up and down.. the direction is unknown so we can't tell whether it it weak or strong but it is showing some sign of strength... so it is usually not advisable to pair two strong pairs together..
Well Lets see how it goes...
Just check it out though.
My telegram: https://t.me/avidforex
  • #732,112
  • Feb 26, 2023 4:22pm Feb 26, 2023 4:22pm
Quoting Robinhood1
Long 1.1940
Cable
POSTMASTER
  • #732,113
  • Feb 26, 2023 4:28pm Feb 26, 2023 4:28pm
Quoting DrDave
{quote} Just curious to know how you determined that USD is "very strong".
Stick this on your chart to find out

POSTMASTER
  • #732,114
  • Feb 26, 2023 4:29pm Feb 26, 2023 4:29pm
Done waisting my time. See you next week
POSTMASTER
  • #732,115
  • Feb 26, 2023 4:53pm Feb 26, 2023 4:53pm
Attached Image (click to enlarge)
Click to Enlarge Name: gu.png Size: 10 KB
yes yes yes
  • #732,116
  • Feb 26, 2023 5:10pm Feb 26, 2023 5:10pm
Quoting BigNumbers
{quote} USDCAD is likely to range in this week because CAD is going up and down.. the direction is unknown so we can't tell whether it it weak or strong but it is showing some sign of strength... so it is usually not advisable to pair two strong pairs together.. Well Lets see how it goes... Just check it out though.
Thanks for ur opinion
Master your mind. Master Trading.
  • #732,117
  • Feb 26, 2023 5:49pm Feb 26, 2023 5:49pm
Quoting Robinhood1
{quote} Stick this on your chart to find out
lol
  • #732,118
  • Feb 26, 2023 5:52pm Feb 26, 2023 5:52pm
Quoting KeenPips
On Tuesday, GBPUSD price action on the H4 time frame made a 61.8 Fib retracement of the 1.22700/1.190130 bearish swing before heading southward for about 220 pips. Presently, there is a slowdown in bearish drive, and we may see a northward pullback to an area of value before further southward drive. I may be wrong. Trade safe and prosper. KP {image}
Are you a bot???
  • #732,119
  • Feb 26, 2023 6:22pm Feb 26, 2023 6:22pm
The 5,10,21 and momentum studies are all turning south....this is heading south!!!
  • #732,120
  • Feb 26, 2023 6:45pm Feb 26, 2023 6:45pm
Quoting Moty
{image}
First, for me, the price likely to rise from 1925/1900 for 2000 or r1 today
Intraday only.
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