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Cable Update (GBPUSD)

  • #736,161
  • Mar 15, 2023 4:50am Mar 15, 2023 4:50am
Quoting BrainBucks
2100...
And beyond...
Magnet 2100 + Fill Weekly Gap.
  • #736,162
  • Mar 15, 2023 4:50am Mar 15, 2023 4:50am
ty mister drop
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yes yes yes
  • #736,163
  • Mar 15, 2023 4:54am Mar 15, 2023 4:54am
Quoting Geester
{quote} What time frame do you trade on? What time frame do you analyse on?
I try to do my analysis on the daily for overall daily bias, 4hr and 1h for intraday structure, entry on 15 and 5 minute. Ranges kill me because it introduces so much doubt that my analysis was wrong that I start entering in both directions then it takes me out of both directions and I take massive losses.

After a long series of losses, I then know that the break out of the range is likely closer now and so "This could be the break out move" thought enter my head and I continue, knowing that the moment I stop trading, the range will break out just like it has done.
  • #736,164
  • Mar 15, 2023 4:55am Mar 15, 2023 4:55am
I entered at a price of 163.286 and gradually increased my position. I have accumulated paper losses of nearly $300. I am also very worried, but from my chart really show that the price may fall. I tell myself to trust the chart analysis and wait until the momentum grows larger, then it drops.
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  • #736,165
  • Mar 15, 2023 4:55am Mar 15, 2023 4:55am
Quoting mysterio
today looks a bit unclear we still have a dxy gap to fill and we're sitting on demand (dollar index). after a range day yesterday we may go to fill that. levels, i can see a drop to 1.2115, retest of the LTF supply then drop, if that move is to complete today.. that said I think this pair is headed to 1.2450 sooner rather than later apart from that, just scanning across assets and NASDAQ looks primed for a sell from 12300 and watching for a Goldi sell at 1903.15. but I think I want to sell EURUSD at 1.0746/7 instead today and see if we can fill...
missed my euro limit sell by two pips. then my pb entry got tapped out BE. crying lol.

I dont think GU bears are done until dollar gap is filled so will look to enter short GU on a pullback to 1.2141 if we get there (doubt)

otherwise will look to buy to 1.2230 in ny session once the gap is filled.
  • #736,166
  • Mar 15, 2023 4:56am Mar 15, 2023 4:56am
Quoting Moty
eu is going down {image}
wow , almost 100 pips
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yes yes yes
  • #736,167
  • Mar 15, 2023 5:07am Mar 15, 2023 5:07am
Quoting navk
{quote} Finally broke down, and took profit at s1. Now after a small retrace up... will take short. {image}
Did buy in 1 min chart for a quick buy and made nice 450-460 bucks.

Now.. will wait for good retrace up.

No more trading.
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Intraday only.
  • #736,168
  • Mar 15, 2023 5:08am Mar 15, 2023 5:08am
Quoting MrFanciful
{quote} I try to do my analysis on the daily for overall daily bias, 4hr and 1h for intraday structure, entry on 15 and 5 minute. Ranges kill me because it introduces so much doubt that my analysis was wrong that I start entering in both directions then it takes me out of both directions and I take massive losses. After a long series of losses, I then know that the break out of the range is likely closer now and so "This could be the break out move" thought enter my head and I continue, knowing that the moment I stop trading, the range will break...
Sorry to hear your predicament, your using way too many timeframes.

Stick to one timeframe for direction, ie

If the daily is swing trending then that is building the structure of a weekly swing.
Take your entry from 4H

If the 4H is swing trending that is building the structure of a daily swing
Take your entry from the 1H

etc

For scalping follow a single swing using the price bars on one timeframe and enter on a lower

Good luck

Trade at your own risk

PS Never open two positions in opposite directions on the same pair
Manage your risk and set weekly monthly targets and use a compounding method to slowly build your account up.
Follow The Markets Structure - Patience and Discipline
  • #736,169
  • Mar 15, 2023 5:10am Mar 15, 2023 5:10am
Quoting MrFanciful
Blown another account this week. Seems like a weekly event now. Never blew an account in my 6 years of trying until September, now it's a regular occurrence. At every single point on the chart, it simulaneously looks like its continuing and reversing at the same time. I enter buys and sells at the same time because it looks like it's going in both directions. As I'm typing this, it's going in the direction I thought it was going in but I've lost 50% of my account this morning because I'm chopping and changing direction. I'm going to be told that...

i feel with you.

believe me, there are many here who have had similar or even worse things happen to them. i know from their private messages to me. hardly anyone wins this game in the long run.

to be able to make a living from it, you definitely don't have to aspire to want to make a living from it. i know it sounds paradoxical, but there is no other way.

you just have to enjoy doing it, have reserves, keep your lifestyle modest, show humility and no goals like "i want to earn so and so much every day, every week"...

that doesn't work, i can say that after more than 30 years of active trading.
trading is like dancing, don't think and just listen to the music!
  • #736,170
  • Mar 15, 2023 5:11am Mar 15, 2023 5:11am
Im walking always two ways, love CT trades 😉🍀🏛 that was risky but fast 80 bucks 😉
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People don't plan to lose. They lose because they don't plan.
  • #736,171
  • Mar 15, 2023 5:11am Mar 15, 2023 5:11am
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yes yes yes
  • #736,172
  • Mar 15, 2023 5:13am Mar 15, 2023 5:13am
What's happening?
GER40 is down a lot. so is GU.
Just follow the trend.
  • #736,173
  • Mar 15, 2023 5:17am Mar 15, 2023 5:17am
Exactly even the indian market fell like crazy in last 30 min. I am trying to find if some event happened ?
Quoting lucaswalliam
What's happening? GER40 is down a lot. so is GU.
  • #736,174
  • Mar 15, 2023 5:19am Mar 15, 2023 5:19am
Quoting MrFanciful
{quote} I try to do my analysis on the daily for overall daily bias, 4hr and 1h for intraday structure, entry on 15 and 5 minute. Ranges kill me because it introduces so much doubt that my analysis was wrong that I start entering in both directions then it takes me out of both directions and I take massive losses. After a long series of losses, I then know that the break out of the range is likely closer now and so "This could be the break out move" thought enter my head and I continue, knowing that the moment I stop trading, the range will break...
I would strongly advise against being a breakout trader. When price is in a so-called range (it isn't really a range but that's another story), there is buying and selling going on between big money. When one side of that arrangement has had its fill and no longer needs to buy or sell, they are out of the market leaving a huge imbalance. If the large buyer stops buying price will collapse short, if the seller stops selling, price will catapult long. It's got nothing to do with momentum or impulse moves or anything like that, it's pure imbalance.

You can try and guess the direction it will break from the so-called range and you might make an educated guess and be correct. IMHO, it would be better to let price break out of the so-called range. At known points, if you understand where they are, price will be turned back and retrace the big breakout move as it is the market makers obligation to redistribute liquidity/orders over the illiquid area that the poorly auctioned breakout covered. The trick is to trade with the big money. When the market makers turn price around after the illiquid move away from the so-called range, it's then you jump into the trade - on the way back. Breakout traders are like cannon fodder so don't be one.
  • #736,175
  • Mar 15, 2023 5:23am Mar 15, 2023 5:23am
Quoting MrFanciful
Blown another account this week. Seems like a weekly event now. Never blew an account in my 6 years of trying until September, now it's a regular occurrence. At every single point on the chart, it simulaneously looks like its continuing and reversing at the same time. I enter buys and sells at the same time because it looks like it's going in both directions. As I'm typing this, it's going in the direction I thought it was going in but I've lost 50% of my account this morning because I'm chopping and changing direction. I'm going to be told that...
whats your strategy ? give me an idea of rules, checklists etc
  • #736,176
  • Mar 15, 2023 5:27am Mar 15, 2023 5:27am
Quoting lucaswalliam
What's happening? GER40 is down a lot. so is GU.
GU Gap filling, Friday 10th March Close-Monday 13th Open.

1.2030 will fill the gap.
All Assets NAS100 GLD BTC AUS JPY GBP All Time Return: 18.2%
  • #736,177
  • Mar 15, 2023 5:29am Mar 15, 2023 5:29am
Buy limit@1.2095
Face 'ur fears & tame 'ur greed
  • #736,178
  • Mar 15, 2023 5:30am Mar 15, 2023 5:30am
Quoting eyefeelsix
{quote} My Cable Updated, Re-Accumulation or Distribution? idk.. just trade it lol {image}
2 cut in a row, from win to loss
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https://breakpullback.com
  • #736,179
  • Edited 6:37am Mar 15, 2023 5:32am | Edited 6:37am
Quoting MrFanciful
Blown another account this week. Seems like a weekly event now. Never blew an account in my 6 years of trying until September, now it's a regular occurrence. At every single point on the chart, it simulaneously looks like its continuing and reversing at the same time. I enter buys and sells at the same time because it looks like it's going in both directions. As I'm typing this, it's going in the direction I thought it was going in but I've lost 50% of my account this morning because I'm chopping and changing direction. I'm going to be told that...
I'm going to be told that I'm over leveraging. I'm risking a maximum of 2%.
Hi, mate. Feel you. I saw your entries are 0.16, with $1600 equity = 10x leverage. With 2% risk = 20pips ($32) SL(?).
If not risk management, then maybe entry rules/strategy is not precise enough to fit your management?
Air force
  • #736,180
  • Mar 15, 2023 5:35am Mar 15, 2023 5:35am
Quoting JereMi256
Buy [email protected]
Filled
Face 'ur fears & tame 'ur greed
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