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Cable Update (GBPUSD)

  • #750,621
  • Jun 9, 2023 2:03am Jun 9, 2023 2:03am
Quoting Pat Chiko
{quote} Machine vs Human GU Same chart we may interprate it differently..... Even looking at the same chart, I may interpret it differently. We are animal with brain build for different view......... We are accustomed to not listening to other views with an open mind, especially views that oppose our own ideas, ideology and beliefe. This is true in politics, economics, trading, and even everyday things like food, clothes, and friends. When someone cannot win an argument, they may resort to trolling, which is the act of deliberately provoking or...
and in both cases you see it going down, not up
  • #750,622
  • Jun 9, 2023 2:03am Jun 9, 2023 2:03am
G/M, a big >30 day adr bullish thrust dly candle y/day and 3rd consecutively on that t/f. The prev 1hr/4hr/dly sw hi zone to 2546 that it bust north thru is now pot rbs and on dly extends down to circa 2528. The current dly hi now above the Asian hi is in a prev 1hr/4hr sw lo zone from 5th May, = prev supp = pot sbr, -this is coexistent with one that extends up to circa 2618.

1hr below
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Trader with an Edge.
  • #750,623
  • Jun 9, 2023 2:03am Jun 9, 2023 2:03am
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Do not get emotional when you gain or lose
  • #750,624
  • Jun 9, 2023 2:08am Jun 9, 2023 2:08am
What we currently can see is more GBP strength than Dollar weakness. EUR/GBP is also screaming. London is always difficult in initial a clear move. That is a big problem currently to get more highs. They have to watch out now that no bigger consolidation is incoming, that's why market does not go down currently.

I think you have to understand market structure and how they try to move the market. Of course that is not everything but in extremes like currently most times they are involved heavily. I find that always a bit sad because that means in the end that professionals play against professionals and sometimes people get out of the market due to heavy fights because someone wants everything. But I think that's capitalism .

By the way I trade next to I'm writing lol.

But most important is: Be disciplined. Here is an example from me this morning: Your Target Profit (like today on me) as not hit by one pip. You have to stay calm, don't average down in that moment or invest more. When you get triggered you have the tendency to act. And than you play roulette. -You can average down - but in the right moment. What helps for me is to act like I have no open position so you decide to act like you would decide without emotions and open a trade by the rules....

You see trading is far more than chart, tradesize and take profit / stop loss. I think who is very flexible, also in life in general, has high chances to earn really money with stocks/forex etc.
.
  • #750,625
  • Jun 9, 2023 2:18am Jun 9, 2023 2:18am
Ready for a 100 - 200 pip drop???
Sell @ 1.2545 Tp 1.2380 stop loss 1.2570
  • #750,626
  • Jun 9, 2023 2:21am Jun 9, 2023 2:21am
ouch...itchy fingers
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  • #750,627
  • Jun 9, 2023 2:24am Jun 9, 2023 2:24am
Now we have seen a new high without continuation. They use it for making liquidity and prepare selling. Current downmove is selling much longs of last 16 hours. I'm +/.0 currently from yesterday 1.2470's.

Next stop is 1.2540. Let's see if they play by the book now or if they dump more directly. They need more up and down now to liquidate their positions, else people realize too fast what's going on.

With the new high they trapped now also some professionals. Let's see if they could sell of enough last 10 minutes to make a new high later today.

Minimum Consolidation reached now at 1.2546, better would be 1.2540. You also can see on price action that big guys move the market. Not much of up and down per minute (fluctuation is low). Currently means selling undercover without making too much noise. -That does not mean they want the market to go down. That only means they have to gain new liquidity to push the market in the direction they want it.

Let's wait now for the up and downs.
  • #750,628
  • Jun 9, 2023 2:24am Jun 9, 2023 2:24am
Quoting genadi
{quote} and in both cases you see it going down, not up
Yes, but since 4hr structure shift to uptrend,
Chance to make more wins shift to trade Demand Zone and not supply zone (since they are all meant to be broken in an uptrend;making HHs)
We sell only when external BOS occurred. And the conservative TP level will be at demand zone which will produce HLs.
However, what becomes interesting is inducement at any support level other than demand zone. MM trap traders before sweep all their SL by going to Demand Zone.

The inducement is noise but come with good Risk Reward for scalping

My two cents view what i expect from an Upward market structure
More time in the market, does not mean you trade better!
  • #750,629
  • Jun 9, 2023 2:30am Jun 9, 2023 2:30am
Quoting Fardeen1209
{quote} Yes, but since 4hr structure shift to uptrend, Chance to make more wins shift to trade Demand Zone and not supply zone (since they are all meant to be broken in an uptrend;making HHs) We sell only when external BOS occurred. And the conservative TP level will be at demand zone which will produce HLs. However, what becomes interesting is inducement at any support level other than demand zone. MM trap traders before sweep all their SL by going to Demand Zone. The inducement is noise but come with good Risk Reward for scalping My two cents...
I agree, you are right

  • #750,630
  • Edited 3:04am Jun 9, 2023 2:49am | Edited 3:04am
1.24670 will be the high of the day
dx will not drop below 103.300
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yes yes yes
  • #750,631
  • Jun 9, 2023 2:50am Jun 9, 2023 2:50am
...asian hi then lo both breached. Current supp is in that prev 1hr/4hr/dly sw hi zone that started at 2546, = prev res = pot rbs, and extends down to 2528 on dly t/f. In there a prev 30min sw lo zone where current dly lo is, = prev supp = pot supp. Potential for 1hr bullish hidden div to develop on any deeper p/back so long as above 2429. If it did it would do so @ a potential LL on 1hr so you'd ideally want that to be a potential HL on the next higher t/f - ie 4hr, in this t/f combo.

1hr below
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Trader with an Edge.
  • #750,632
  • Jun 9, 2023 2:57am Jun 9, 2023 2:57am
Now my Target Profit was hit and I'm out with a daily win (about 5 Trades), started to short from 1.2470's area, managing the trade (of course I used more than my initial position, about 10 times higher in the peak but that is ok, it is a part of my system). I think there is more coming down now, they hardly can keep the market up but that is not my trade.

It's a bit sad, that you cannot really see the volume. Else you would know if they managed to sell off enough already for next move up from last 16 hours.

From statistical view the retrace was not big enough anyway yet and PA is also more bearish if you watch last 1 minute candles. When I see big red 1 minute candles and more small green ones it means:
We want to buy slowly and dump the market of low liquidity to buy even more (means raising quotes) or
it means we have problems to sell off our longs to the market and buy even more to avoid a flush in the market in the current situation (means lower quotes).

Due to market conditions, my tendency we see currently on PA, is the 2nd Scenario. They have problems to sell their longs to the market. Let's see if they try to take out the last high of 1.2552 to establish a fresh sell area for them. Currently longs are overpositioned since last 50 minutes. They need higher prices now or flush (down) is coming.
  • #750,633
  • Jun 9, 2023 3:04am Jun 9, 2023 3:04am
how you see the market depend on what time frame you are looking at.

for me i am currently on daily chart

all i see for now is 1.22
MY OPINION NOT FINANCIAL ADVISE
  • #750,634
  • Jun 9, 2023 3:12am Jun 9, 2023 3:12am
Quoting Moty
1.24670 will be the high of the day dx will not drop below 103.300 {image}
first blood
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yes yes yes
  • #750,635
  • Jun 9, 2023 3:12am Jun 9, 2023 3:12am
Failed to establish fresh sell area above 1.2552... flush was coming as I mentioned, they obviously had too much left in the books, 2nd scenario as described above probably happened. For me no trade now. I'm out. May be see you later. Thanks for the likes. Hope my analyze helped a bit and that it was correct .
  • #750,636
  • Jun 9, 2023 3:13am Jun 9, 2023 3:13am
Floating minus 30 pips from 1.538 added at 1.555 then SL BE second OP at 55, the fuck is going down again, really want to add Sell at 65 but afraid of price going higher UP. And now going down to starting OP sell, well i guess THIS IS how MARKET GOES . I rrally want to cut right now
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just lucky got some gain on nasdaq
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10000% Wannabe . -$3000 & -$4000
Gold Recovery All Time Profit: -$3,961
  • #750,637
  • Jun 9, 2023 3:13am Jun 9, 2023 3:13am
Quoting donfriday
how you see the market depend on what time frame you are looking at. for me i am currently on daily chart all i see for now is 1.22
daily i saw 1.27..
weekly 1.34
this down is temporary..
  • #750,638
  • Jun 9, 2023 3:14am Jun 9, 2023 3:14am
Quoting GODofMC
Floating minus 30 pips from 1.538 added at 1.555 then SL BE second OP at 55, the fuck is going down again, really want to add Sell at 65 but afraid of price going higher UP. And now going down to starting OP sell, well i guess THIS IS how MARKET GOES {image}
calm down its fryday..still have next week
  • #750,639
  • Jun 9, 2023 3:17am Jun 9, 2023 3:17am
Quoting eyefeelsix
{quote} I canceled my pending short, if atm LOD is not broken it seems that the fifth will be higher than the green zone {image}

test Scalp buy for 1:7R --- 9p risk

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https://breakpullback.com
  • #750,640
  • Jun 9, 2023 3:23am Jun 9, 2023 3:23am
Quoting donfriday
how you see the market depend on what time frame you are looking at. for me i am currently on daily chart all i see for now is 1.22
impossible to argue with that call.. the wind is blows there, even if you are not feeling it right now.
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