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Cable Update (GBPUSD)

  • #752,341
  • Jun 16, 2023 3:27am Jun 16, 2023 3:27am
Simple example. Remember end of Feb/beginning of March for big macro runs and backtest it!
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Was slipping off the edge but i held up.
  • #752,342
  • Jun 16, 2023 3:28am Jun 16, 2023 3:28am
... Currently it's dark cloud cover - last 1hr close and market already @ 168% 13wk awr at the current dly hi -vs- 5min bullish hidden div and various t/f uptrends. Take your pick.
Trader with an Edge.
  • #752,343
  • Jun 16, 2023 3:34am Jun 16, 2023 3:34am
Quoting JackintheBox
{quote} He meant that it is rare to have such a HIGH drawdown in 2 days cause market had no big correction like normally. It is out of sync currently, you can see that on the PA also, last hour was ok- I repeat myself, sorry for that. Current short again 1.2792, half position again, quite dangerous. Don't follow me.
Closed 1.2784, almost 1/20 again for the day. I think sideways between 1.2795 and 1.2782 will soon end. No more postions now for me before breakout of that range.
  • #752,344
  • Jun 16, 2023 3:34am Jun 16, 2023 3:34am
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File Type: ex4 MarketSession.ex4   276 KB | 183 downloads

Attached File(s)
File Type: ex4 orderblock.ex4   275 KB | 195 downloads

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  • #752,345
  • Jun 16, 2023 3:37am Jun 16, 2023 3:37am
Quoting Robinhood1
{quote} Hello Dr. There are 6 candles per day @ 4h TF. Your theory may do the job thou. Would have to look into it
Cable is performing wave #6 to my understanding. If we get more than 6, a retracement shoud take out some previous waves to reset the counting. Now, this is just a reference feature to combine with others where trader feels confortable
POSTMASTER
  • #752,346
  • Jun 16, 2023 3:40am Jun 16, 2023 3:40am
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  • #752,347
  • Jun 16, 2023 3:40am Jun 16, 2023 3:40am
1.3 is but a smidge away
Compulsions can be hard to resist
  • #752,348
  • Jun 16, 2023 3:41am Jun 16, 2023 3:41am
Long in at 1.2793
Don't trade what you think. Just what you see!!!
  • #752,349
  • Jun 16, 2023 3:42am Jun 16, 2023 3:42am
Currently, in that moment, we have a nice trade option: Buystop at 1.2798 and sell stop at 1.2781, lots of fakes inside already. I traded that system long time ago, always double down if I got a loss.

Example:

1 minilot long 1.2798, SL hit 1.2781 than
2 minlots short 1.2781, SL hit again at 1.2798 than
4 minilots long etc...

End of story: I invested 2000 Dollars into a programmer, earned 50 Dollars with it and finally my 7 times out got hit (so it was going back and forth more than 7 times). Currently that is completely out of thinking that this could happen but that is also the market.
As I said, currently it's good for trend trader.

Btw. I have to search for that EA on my computer, may be I should use it now LOL. (just kidding but it will probably work right now when I would use it).
  • #752,350
  • Jun 16, 2023 3:48am Jun 16, 2023 3:48am
Quoting JackintheBox
Currently, in that moment, we have a nice trade option: Buystop at 1.2798 and sell stop at 1.2781, lots of fakes inside already. I traded that system long time ago, always double down if I got a loss. Example: 1 minilot long 1.2798, SL hit 1.2781 than 2 minlots short 1.2781, SL hit again at 1.2798 than 4 minilots long etc... End of story: I invested 2000 Dollars into a programmer, earned 50 Dollars with it and finally my 7 times out got hit (so it was going back and forth more than 7 times). Currently that is completely out of thinking...
Hahaha... you invested 2k in a programmer and received $50 in return. You should burn that script already. Set it on fire! Hahahaha
  • #752,351
  • Jun 16, 2023 3:48am Jun 16, 2023 3:48am
Let's go for the 1.5 win/loss ratio and 21 pips
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yes yes yes
  • #752,352
  • Jun 16, 2023 3:50am Jun 16, 2023 3:50am
Short in at 2788. See if we can at least hit DP at 2734.
  • #752,353
  • Jun 16, 2023 3:55am Jun 16, 2023 3:55am
Going long for a bit. Closed short +10 pips.
You have an IQ lower than 90 if you interact with this user.
  • #752,354
  • Jun 16, 2023 3:55am Jun 16, 2023 3:55am
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #752,355
  • Jun 16, 2023 4:02am Jun 16, 2023 4:02am
Quoting DrDave
{quote} OHHHHHHHH!!!! My bad. I don't know why I was thinking that a thread titled "Cable Update (GBPUSD)" would be focused on GBPUSD.
Bro, GBP is dependent on the move of the DXY itself. Safe trades my guy!
  • #752,356
  • Jun 16, 2023 4:05am Jun 16, 2023 4:05am
Drop all ready mf
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yes yes yes
  • #752,357
  • Jun 16, 2023 4:06am Jun 16, 2023 4:06am
Quoting Mitiblotch
Short in at 2788. See if we can at least hit DP at 2734.
Yeah, big question is now: Do we go from here to 1.2815's or do we go down to 1.2760's area? I have no clue. Volume to upside is gone, easy to fill, correction still going, 1.2760's should be in range. So: no trade for me
  • #752,358
  • Jun 16, 2023 4:10am Jun 16, 2023 4:10am
Added my last sell 10.0 lot common let’s gooooo
  • #752,359
  • Jun 16, 2023 4:11am Jun 16, 2023 4:11am
Quoting DrDave
{quote} Do you mean that is is rare to have such a small % drawdown in 2 days?
I mean it is rare for me to have such a big drawdown since mid February, my maximum drawdown has been 12.53%...

I caused this big drawdown though, I knew it's a buy and yet kept selling in the last month of the second quarter. 1.2774 was clear as day and yet I kept selling from 1.26.... I consider myself a shitty trader for this nonsensical decisions.
Data + Stat + Risk/Emotions Management
  • #752,360
  • Jun 16, 2023 4:12am Jun 16, 2023 4:12am
Quoting JackintheBox
{quote} He meant that it is rare to have such a HIGH drawdown in 2 days cause market had no big correction like normally. It is out of sync currently, you can see that on the PA also, last hour was ok- I repeat myself, sorry for that. Current short again 1.2792, half position again, quite dangerous. Don't follow me.
It is out of sync currently,
Have you looked at the Monthly and Weekly TFs? Nothing at all out of sync: It's business as usual.
To free Gazans of Hamas, use whatever it takes.
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