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Cable Update (GBPUSD)

  • #743,581
  • May 1, 2023 3:44pm May 1, 2023 3:44pm
Price testing support. Sells still active. Still wouldn't rule out 1.26 from the plan,sell order there to be safe. TP 1.237
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  • #743,582
  • May 1, 2023 5:23pm May 1, 2023 5:23pm
Quoting ScalaFX
Risky Long GU 2485 SL 2440 TP above 2600
It's good you have your stop loss in place as minimum first two trade days of the of the last 6 months is 164 pips and currently done 90 pips (1.2570 - 1.2480) which means at least 74 more pips to break either 1.2570 or 1.2480...

Simulations below
1.2570 minus 164 pips = 1.2406
1.2480 plus 164 pips = 1.2644

This means either 1.2644 or 1.2406 will happen tomorrow...

✓1.2406 has 55% chance
✓1.2644 has 25% chance
✓none of the two prices Happening has 20% chance.
Data + Stat + Risk/Emotions Management
  • #743,583
  • May 1, 2023 8:12pm May 1, 2023 8:12pm
Quoting Georginson
{quote} ✓1.2406 has 55% chance ✓1.2644 has 25% chance ✓none of the two prices Happening has 20% chance.
Hey sir, can you please explain how do you calculate the probability behind the possible price movement. Like what criteria you used?
Always want to do this but don't know where to start, instead i simply trade infavour of market structure, red data figures, daily candle formation and mostly liquidity levels.
The problem here, when the level holds, thats great, but price going to your TP, thats a different story.
More time in the market, does not mean you trade better!
  • #743,584
  • May 1, 2023 9:23pm May 1, 2023 9:23pm
Quoting Fardeen1209
{quote} Hey sir, can you please explain how do you calculate the probability behind the possible price movement. Like what criteria you used? Always want to do this but don't know where to start, instead i simply trade infavour of market structure, red data figures, daily candle formation and mostly liquidity levels. The problem here, when the level holds, thats great, but price going to your TP, thats a different story.
The one that has highest chance factors in the current momentum and the distance of the current price to the anticipated marked out area.

For instance, 1.2495 (price as at typing then) is much closer to 1.2406 and much farther from 1.2644.

Also number of times price doesn't move up to 164 pips Range within first two trade days is 1 out of five months... Which means 20% of the time.
Data + Stat + Risk/Emotions Management
  • #743,585
  • May 1, 2023 9:27pm May 1, 2023 9:27pm
Quoting eyefeelsix
{quote} stop-loss level updated {image}
again.. yesterday was failed for my bull to get the zone, but let it flow let it slow, my plan for today is bearish in my eyes
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https://breakpullback.com
  • #743,586
  • May 1, 2023 9:32pm May 1, 2023 9:32pm
Quoting damsak
Yeah GBP as expected yesterday just broken zones and gone down Now the market in a short term scalp buy zone {image} https://youtu.be/91ACf7JZuDY
Just reverse to the up from the expected reverse zones
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  • #743,587
  • May 1, 2023 9:36pm May 1, 2023 9:36pm
Quoting Georginson
{quote} The one that has highest chance factors in the current momentum and the distance of the current price to the anticipated marked out area. For instance, 1.2495 (price as at typing then) is much closer to 1.2406 and much farther from 1.2644. Also number of times price doesn't move up to 164 pips Range within first two trade days is 1 out of five months... Which means 20% of the time.
Ohh thank you sir
More time in the market, does not mean you trade better!
  • #743,588
  • May 1, 2023 9:48pm May 1, 2023 9:48pm
coffe time..watching RBA ..hopes.can drag GU to moon
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  • #743,589
  • May 1, 2023 10:07pm May 1, 2023 10:07pm
Quoting Fardeen1209
{quote} Ohh thank you sir
Gu is in a tight range...I wouldnt fucking trade it!!!
  • #743,590
  • May 1, 2023 10:15pm May 1, 2023 10:15pm
Quoting voeltoez
coffe time..watching RBA ..hopes.can drag GU to moon {image}
why would RBA move the GU????
  • #743,591
  • May 1, 2023 10:23pm May 1, 2023 10:23pm
Quoting ninner
{quote} why would RBA move the GU????
just wait and see..i said i hope..stronger or weaker aud will effect usd
  • #743,592
  • May 1, 2023 10:24pm May 1, 2023 10:24pm
Quoting Haydel
{quote} If price doesn't continue climbing from here, a retest of 1.2500 is possible. Should I buy more there? We'll see. {image}
Bought some more. We'll see.
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  • #743,593
  • May 1, 2023 10:27pm May 1, 2023 10:27pm
Quoting voeltoez
{quote} just wait and see..i said i hope..stronger or weaker aud will effect usd
id be suprised but we will see. best of luck with your trades.
  • #743,594
  • May 1, 2023 10:31pm May 1, 2023 10:31pm
Quoting ninner
{quote} id be suprised but we will see. best of luck with your trades.
GBU too my bro..
stoploss already..
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  • #743,595
  • May 1, 2023 10:32pm May 1, 2023 10:32pm
Quoting ninner
{quote} Gu is in a tight range...I wouldnt fucking trade it!!!
It is indeed in a tight range, but we do get the chance to scalp with a RR 1:2.5-3
More time in the market, does not mean you trade better!
  • #743,596
  • May 1, 2023 10:34pm May 1, 2023 10:34pm
Quoting voeltoez
{quote} GBU too my bro.. stoploss already.. {image}
gu is in a tight range and no clear direction so no trade for me.
  • #743,597
  • May 1, 2023 10:40pm May 1, 2023 10:40pm
Quoting eyefeelsix
{quote} again.. yesterday was failed for my bull to get the zone, but let it flow let it slow, my plan for today is bearish in my eyes {image}
are you selling into this mess?

look like a bullish order flow to me.
below 1.2445 seems like a good place for a potential reversal point
  • #743,598
  • May 1, 2023 10:46pm May 1, 2023 10:46pm
Quoting Fardeen1209
{quote} It is indeed in a tight range, but we do get the chance to scalp with a RR 1:2.5-3

Easier trades to make money!!!
  • #743,599
  • May 1, 2023 11:02pm May 1, 2023 11:02pm
Quoting Whale
{quote} are you selling into this mess? look like a bullish order flow to me. below 1.2445 seems like a good place for a potential reversal point
yes I took short atm which is why I widened my stop-loss space a bit

moreover.. cable is not my primary trade for this week, set and forget for my medium to long term trading
https://breakpullback.com
  • #743,600
  • May 1, 2023 11:13pm May 1, 2023 11:13pm
Bearish below 1.2520
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
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