Cable Update (GBPUSD)

Quoting dantpm

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{quote} One of the biggest challenges that traders face today is understanding how the market works. There is a lot of incorrect information floating around! The main players are the same. Computer controlled markets have been around for a couple of decades and for many the way that these computerized trading markets work is unclear. I believe that clearest explanation is that computerized markets move price to match open orders in a profitable manner for the market. (Nothing in this explanation about news, bias, sentiment, and so on). Central...

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Quoting OBsayMkMoney

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{quote} I work at a hedge fund, and have supported traders for the last 20yrs in IT. They aren't as smart as you think they are lol. Just have big enough orders to "bully" small moves here and there. I can't tell you how often I have heard confusion on the trade floor lol. I once believed what you are saying as it is logical, is profitable and bears merit. What messed me up were the Elliotticians coming in and posting targets almost to the pip days, and sometimes weeks in advance. Someone recently posted an entry scale that showed this. So...

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Quoting dantpm

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{quote} One of the biggest challenges that traders face today is understanding how the market works. There is a lot of incorrect information floating around! The main players are the same. Computer controlled markets have been around for a couple of decades and for many the way that these computerized trading markets work is unclear. I believe that clearest explanation is that computerized markets move price to match open orders in a profitable manner for the market. (Nothing in this explanation about news, bias, sentiment, and so on). Central banks...

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Quoting Fardeen1209

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{quote} The well informed vs uninformed traders. If we were to dig in this industry, there will be no end because somehow everything is rely on each other. Money market, bonds, swaps, options, stocks, interest rate, mortgage, currency, commodities, metals, crypto, futures, other market which i dont even know exist If we don't know who are our enemy, who will we fighting against and with what we will defense ourselves, since we dont really know what weapon they (market makers) are using. And is kept a secret to retails but if we set our foot in the...

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Quoting mysterio

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{quote} i see something like this today buy from either 1.2420 or 1.2433 as high as 1.2496 but use judgement then sells {image}

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Quoting dantpm

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{quote} They aren't our enemies. It is wrong to consider the 'person' that is paying you as an enemy. The person paying you is a customer who you are trying to understand and provide them with the perception or belief of value for the money that they are paying you. Now your interpretation of value and their interpretation of value are going to be very different in this case. You see money in your pocket as value and you see your customer having a 'positive', losing but positive trading experience as your customer's benefit, imho.

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Quoting Fardeen1209

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{quote} The well informed vs uninformed traders. If we were to dig in this industry, there will be no end because somehow everything is rely on each other. Money market, bonds, swaps, options, stocks, interest rate, mortgage, currency, commodities, metals, crypto, futures, other market which i dont even know exist If we don't know who are our enemy, who will we fighting against and with what we will defense ourselves, since we dont really know what weapon they (market makers) are using. And is kept a secret to retails but if we set our foot in the...

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Quoting mysterio

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{quote} got my eyes on these two levels. not sure which one it will be. both have confluence.

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Quoting Fardeen1209

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{quote} I agree. If we understand how they trade, and trade just like them and with them, their massive orders which are after our stop losses, will now push price to our TP.

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Quoting maxi444

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{quote} For me, it would be irresponsible to explain everything by the existence of an "enemy". It would be too complicated to cover the entire money market, bonds, swaps, options, stocks, interest rate, mortgage, currency, commodities, metals, crypto, futures. It remains to establish simple and clear rules, which "friends and enemies" respect, which can explain to me the important movements in forex.

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Quoting mysterio

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{quote} got my eyes on these two levels. not sure which one it will be. both have confluence.

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Quoting mysterio

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{quote} took it on 1.2433. can we achieve 1.2496 ? this last bull candle on m1 has to hold or it can go to the lower level 1.2420

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Quoting mysterio

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{quote}out -2, looking at lower lvl

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