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Cable Update (GBPUSD)

  • #742,281
  • Apr 21, 2023 12:41am Apr 21, 2023 12:41am
Quoting Pat Chiko
{quote} Sometimes, I get confused when people say, “I am not going to trade today because there’s no volatility ”. As traders we don’t have the luxury to pick and chose day type. The market could lack vol for months. We need to adapt and have a plan for differing volatility conditions.
There is chop and then there is volatility. Trading into chop is often counterproductive.
I try to find some sense of direction and trade into the direction.
Today's chop in a downtrend was a little more challenging for me to 'see', so yes I chose to sit on my hands.
Besides we are in the in-between TO and LO zone which often turns around!
  • #742,282
  • Apr 21, 2023 12:55am Apr 21, 2023 12:55am
Quoting Pat Chiko
{quote} Sometimes, I get confused when people say, “I am not going to trade today because there’s no volatility ”. As traders we don’t have the luxury to pick and chose day type. The market could lack vol for months. We need to adapt and have a plan for differing volatility conditions.

GU

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The worst thing traders can do when confused is prematurely jump into trades. (most newbie, like me does that on regular basis....)

Traders do that because they cannot tolerate not knowing: they cannot accept uncertainty.
If we're threatened with "I don't know", we'll trade without true knowledge.

When market behavior is all over the place and things aren't lining up, that's our cue that, like the physician, we need to look in new places, gather more and different information.
Sometimes that means sitting and letting the market gives us that new information.
Confusion can be our cue that it's time to sit and gather information, "to be aggressive in generating ideas rather than in risk-taking."

Let me hear you idea guys. Reading my newbie analysis won't hwep your trading decision...
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #742,283
  • Apr 21, 2023 12:57am Apr 21, 2023 12:57am
good morning

we can start...
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Trendlines H1,H4, SMC
  • #742,284
  • Apr 21, 2023 1:05am Apr 21, 2023 1:05am
Quoting ScalaFX
{quote}Gold revenge trade sell one more 2004, SL for all 2015
Good morning traders! GOLD finally at my first trade, closed worst, partial profits, last only this 2005 protected to target! Good to see at the morning some shekels
People don't plan to lose. They lose because they don't plan.
  • #742,285
  • Apr 21, 2023 1:06am Apr 21, 2023 1:06am
Quoting josip
good morning we can start... {image}
Is this representing a rising diamond pattern?
  • #742,286
  • Apr 21, 2023 1:12am Apr 21, 2023 1:12am
Good morning everyone. Lots of flash pmk data today, expect volatility and be cautious… have a good day!
  • #742,287
  • Apr 21, 2023 1:13am Apr 21, 2023 1:13am
Quoting dantpm
{quote} Is this representing a rising diamond pattern?
Channel still kinda of intact with rising support trendline.
We could see 1.25 area first before a plunge.
Exhausted
  • #742,288
  • Apr 21, 2023 1:13am Apr 21, 2023 1:13am
Quoting dantpm
{quote} Is this representing a rising diamond pattern?
I've never traded diamond patern, but the green line is ok...

another look...
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Trendlines H1,H4, SMC
  • #742,289
  • Apr 21, 2023 1:17am Apr 21, 2023 1:17am
Morning all is it take profit Friday today? If so what profit there not been a real up or down! And we are down from. Last weeks high by over a 100 pips.
poor UK data even though on dailyfx it was amber it could have an effect later on
Insane in the Brain..
  • #742,290
  • Apr 21, 2023 1:18am Apr 21, 2023 1:18am
I think you are right
Quoting Elysion
{quote} Channel still kinda of intact with rising support trendline. We could see 1.25 area first before a plunge.
  • #742,291
  • Apr 21, 2023 1:32am Apr 21, 2023 1:32am
Quoting ScalaFX
What a beautifull day, partial taken before, now Sl BE took my positions, Im reloading from here 2462 till 2500 with same target 2310 last h4 close above 2450 so I must be carefull, cheers!
patience, trade your plan, thats it partial taking, rest to target
People don't plan to lose. They lose because they don't plan.
  • #742,292
  • Apr 21, 2023 1:39am Apr 21, 2023 1:39am
Attached Image (click to enlarge)
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yes yes yes
  • #742,293
  • Apr 21, 2023 1:39am Apr 21, 2023 1:39am
Quoting Bogdanoff
{image} Done for today Have 1 underwater @1996 Will short again gold tommorow @2010 above Gud luck guys
Closed @1986
Wait for short again
my loss is your gain
  • #742,294
  • Apr 21, 2023 1:39am Apr 21, 2023 1:39am
Now?

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I have no clue where it's going
  • #742,295
  • Apr 21, 2023 1:40am Apr 21, 2023 1:40am
Now the graph of the diamond pattern is intact
Also, I still stand by my opinion .. the dollar index has risen to 104
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  • #742,296
  • Apr 21, 2023 1:41am Apr 21, 2023 1:41am
Quoting ScalaFX
{quote} Good morning traders! GOLD finally at my first trade, closed worst, partial profits, last only this 2005 protected to target! Good to see at the morning some shekels
Gold closing next partial rest to 1970
People don't plan to lose. They lose because they don't plan.
  • #742,297
  • Apr 21, 2023 1:55am Apr 21, 2023 1:55am
Quoting ScalaFX
{quote} Gold closing next partial rest to 1970
Well done , looks like we were on the right side for now.
Follow The Markets Structure - Patience and Discipline
  • #742,298
  • Apr 21, 2023 1:58am Apr 21, 2023 1:58am
Movement that's what I'm talking about!!!
Don't trade what you think. Just what you see!!!
  • #742,299
  • Apr 21, 2023 2:02am Apr 21, 2023 2:02am
2150 area is the target overall for the short side

As i have been saying for the past week D1 down against W1 up means corrective bias to the short side.

AND H4 moving up against D1 down means correction to the D1 down swing, that is why i kept saying the origin for the short is H4 top and stop should go above the swing high.

H4 is now in a trend so should hold this trade until the finalle
Follow The Markets Structure - Patience and Discipline
  • #742,300
  • Apr 21, 2023 2:02am Apr 21, 2023 2:02am
Quoting Theoak
Movement that's what I'm talking about!!!
Yup indeed! Although wrong end for me. 12350 as my area of if it breaks then it’s 122 else a run up to 125. Been a slow stubborn week with no movement from red sticker data but funny enough amber worked lol
Insane in the Brain..
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