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Cable Update (GBPUSD)

  • #749,621
  • Jun 5, 2023 8:30am Jun 5, 2023 8:30am
Quoting Coreg2004
{quote} navk, you are a very sensitive person with a propensity to distort others' records but I encourage you to look in the mirror. Once you told us you didn't have a losing trade for 2 (two) years. Did you want to claim guru status then?
No my dear.. I am not guru... no one is guru here and that is my point.

Everyone will have loosing trading days/ trades.
Intraday only.
  • #749,622
  • Jun 5, 2023 8:32am Jun 5, 2023 8:32am
Quoting donfriday
{quote} IF U ARE GURU PROP FIRMS ARE LOOKING FOR U
yes, Prop firms looking.

But only if gurus can trade with 5 % risk.

The so called gurus can ?

lol
Intraday only.
  • #749,623
  • Jun 5, 2023 8:34am Jun 5, 2023 8:34am
Quoting navk
{quote} My 15 min , 200 EMA shows 2450. To me potentially, the price can pull back to that price in NY session. {image}
You can, of course, do exactly as you did and use some kind of marker to SUGGEST a maximum swing up. But why worry about it if M5 hasn't even gotten into an up trend yet? Because no way that M15 is going up until M5 is in an up trend.
To free Gazans of Hamas, use whatever it takes.
  • #749,624
  • Jun 5, 2023 8:35am Jun 5, 2023 8:35am
I want to claim a guru spot. I haven't had a losing trade in over 20 years and at the time, I wasn't even doing trading.
  • #749,625
  • Jun 5, 2023 8:35am Jun 5, 2023 8:35am
Quoting DrDave
{quote} You can, of course, do exactly as you did and use some kind of marker to SUGGEST a maximum swing up. But why worry about it if M5 hasn't even gotten into an up trend yet? Because no way that M15 is going up until M5 is in an up trend.
Now, i see a 4 hr support.

Let us see.

I am long and currently in positive.

Have set stop loss at current lows.

That is ok for me.
Intraday only.
  • #749,626
  • Jun 5, 2023 8:37am Jun 5, 2023 8:37am
Quoting DrDave
{quote} You can, of course, do exactly as you did and use some kind of marker to SUGGEST a maximum swing up. But why worry about it if M5 hasn't even gotten into an up trend yet? Because no way that M15 is going up until M5 is in an up trend.
What is your definition of an uptrend?
  • #749,627
  • Jun 5, 2023 8:38am Jun 5, 2023 8:38am
Secondary setup with a small price to pay.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 25 KB
The market hides a perfect geometry.
  • #749,628
  • Jun 5, 2023 8:39am Jun 5, 2023 8:39am
Quoting navk
A General tip : Trade only NY session on Fridays and Monday. Most of times, I have seen, friday NY trend continues in monday asia and London open. That continuation level could be s1 to s2 or r1 to r2
GU has essentially reached the daily S2. But even for mean reversion traders, the pivot is about 100 pips away.
To free Gazans of Hamas, use whatever it takes.
  • #749,629
  • Jun 5, 2023 8:41am Jun 5, 2023 8:41am
Quoting DrDave
{quote} GU has essentially reached the daily S2. But even for mean reversion traders, the pivot is about 100 pips away.
s1 or s2 , r1 or r2 does not mean reversal, I agree.

with these levels + 4 hr support / resistance + ADR reached has a kind of .....
Intraday only.
  • #749,630
  • Jun 5, 2023 8:43am Jun 5, 2023 8:43am
Quoting Zeiferz
{quote} u mean 1.23750 is done. We will continue down?
Is even M5 in an up trend now? There is your answer for the moment.
To free Gazans of Hamas, use whatever it takes.
  • #749,631
  • Jun 5, 2023 8:51am Jun 5, 2023 8:51am
Come on bulls let's make some noise
Attached Image (click to enlarge)
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yes yes yes
  • #749,632
  • Jun 5, 2023 8:53am Jun 5, 2023 8:53am
volumes are going apeshit right now, mostly sellers but some strong buys just prior to nyse, i guess liquidations prior to red news
  • #749,633
  • Jun 5, 2023 8:54am Jun 5, 2023 8:54am
Quoting navk
{quote} yes, Prop firms looking. But only if gurus can trade with 5 % risk. The so called gurus can ? lol
I am no guru, but I routinely trade with about 2% risk. It is extremely rare that I hit 5% risk. But I think that I am more focused on capital preservation than most traders.
To free Gazans of Hamas, use whatever it takes.
  • #749,634
  • Jun 5, 2023 8:57am Jun 5, 2023 8:57am
Quoting navk
{quote} Now, i see a 4 hr support. Let us see. I am long and currently in positive. Have set stop loss at current lows. That is ok for me.
With an ATR of only about 5 pips on M5, I am waiting to see how the next swing down plays out before deciding which way to go.
To free Gazans of Hamas, use whatever it takes.
  • #749,635
  • Jun 5, 2023 8:58am Jun 5, 2023 8:58am
Quoting Robinhood1
Cable's target on a swing mode could rest beyond 1.3000. Actual target: 1.30068 It is Rising 20 pips every 24 hours excluding weekends.
I see an inner swing within.
Actual target: 1.27577
Target is Rising at 48 pips every 24 hours.
POSTMASTER
  • #749,636
  • Jun 5, 2023 8:58am Jun 5, 2023 8:58am
Quoting DrDave
{quote} I am no guru, but I routinely trade with about 2% risk. It is extremely rare that I hit 5% risk. But I think that I am more focused on capital preservation than most traders.
That is great.

And once you reach profit targets set by firms, it would be good for you.

I try not to discuss on firms here, in this thread as it may lead to promoting firms.
Intraday only.
  • #749,637
  • Edited 9:12am Jun 5, 2023 9:00am | Edited 9:12am
Quoting noox
{quote} What is your definition of an uptrend?
Go to the 1-2-3 bottom reversal image at the bottom of this post.
To free Gazans of Hamas, use whatever it takes.
  • #749,638
  • Edited 9:14am Jun 5, 2023 9:02am | Edited 9:14am
What an absolutely massive relief that is. Not proud of it but I sailed quite close to my daily drawdown limit on prop today. First time since March, one more bad trade today and I would have blown it. Now it looks like my forecast will be roughly on point. And it's not even like the market was doing anything that crazy in the morning, just lack of prep and emotional control.
now i think we'll hover around UK daily open for rest of the day and make the move up into 1.2450 plus tomorrow morning
  • #749,639
  • Jun 5, 2023 9:03am Jun 5, 2023 9:03am
Quoting FulMargnAlch
Secondary setup with a small price to pay. {image}
Attached Image (click to enlarge)
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The market hides a perfect geometry.
  • #749,640
  • Jun 5, 2023 9:03am Jun 5, 2023 9:03am
Quoting DrDave
{quote} Go to the 1-2-3 botom reversal image at the bottom of this post.
That was the jump i was expecting.

And that is based on my previous post explaing reasons for long
Attached Image (click to enlarge)
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Intraday only.
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