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Cable Update (GBPUSD)

  • #753,961
  • Jun 23, 2023 5:58am Jun 23, 2023 5:58am
...finally an upside follow-thru on the 2 x hammer-esq 1hr candles @ current dly lo...after a p/back and bounce from a prev 5min sw hi zone =prev res = pot rbs. 30min falling wedge also broke to upside, it became a 1hr falling wedge when current dly lo firmed up as a fractal swing lo but was challenging top trendline of the wedge by then. Is that the lo of today/this week @ 2684? May depend on U.s data later. 76.4% of the day's main downmove reached @ current p/back hi.

1hr below
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Trader with an Edge.
  • #753,962
  • Jun 23, 2023 6:10am Jun 23, 2023 6:10am
Take for example EURCAD

The blue line is a line I want to buy at. Then I check left if there is any liquidity sitting below or above my area of interest. As soon as I’m done finding liquidity,
the yellow zone is the liquidity identified. Then again I wait for a swipe in liquidity.

if I have a support or a resistance level and there is no liquidity I’ll wait for the market to range and create liquidity.

The only thing that may take you long to understand is “ how to differentiate important liquidity from the less important ones and also the liquidity which Algo also finds interest.
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  • #753,963
  • Jun 23, 2023 6:20am Jun 23, 2023 6:20am
Quoting Pat Chiko
{quote} GU Trade going opposite direction. Going for "PLAN C" I hope this work out to reduce losses...{image}

GU

Plan "C"
Hope will get some losses covered
Trying to reduce damage to protect capital
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I come from the future.
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  • #753,964
  • Jun 23, 2023 6:22am Jun 23, 2023 6:22am
Quoting BigNumbers
Take for example EURCAD The blue line is a line I want to buy at. Then I check left if there is any liquidity sitting below or above my area of interest. As soon as I’m done finding liquidity, the yellow zone is the liquidity identified. Then again I wait for a swipe in liquidity. if I have a support or a resistance level and there is no liquidity I’ll wait for the market to range and create liquidity. The only thing that may take you long to understand is “ how to differentiate important liquidity from the less important ones and also the liquidity...
So how do you identify the blue line / the level you want to buy? And also how do you differentiate between important and unimportant lq?
  • #753,965
  • Jun 23, 2023 6:24am Jun 23, 2023 6:24am
Quoting BigNumbers
Take for example EURCAD The blue line is a line I want to buy at. Then I check left if there is any liquidity sitting below or above my area of interest. As soon as I’m done finding liquidity, the yellow zone is the liquidity identified. Then again I wait for a swipe in liquidity. if I have a support or a resistance level and there is no liquidity I’ll wait for the market to range and create liquidity. The only thing that may take you long to understand is “ how to differentiate important liquidity from the less important ones and also the liquidity...


NOTE: Volume is important… The volume with which prices are coming to reclaim a level where stop hunt happen should be significant. The Algo doesn’t not spend time in reclaiming an area where traders were formally stopped out. You don’t need any indicator just look at the candlesticks.

Note: You may not always get it right at all times. But the reward is awesome, since you’re trading from one LQ zone to another LQ zone. The more you’re good at finding important liquidity areas the better your chances of winning trades.
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  • #753,966
  • Jun 23, 2023 6:33am Jun 23, 2023 6:33am
Quoting noox
{quote} So how do you identify the blue line / the level you want to buy? And also how do you differentiate between important and unimportant lq?

Monthly Weekly and daily time frame.
The lines are from an Order Block with a complete cycle from the time frames listed above
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  • #753,967
  • Jun 23, 2023 6:43am Jun 23, 2023 6:43am
Dolla Index

U.S. DOLLAR INDEX session high meeting resistance;
Watching for possible test for PLUNGE in dollar index incoming.
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I come from the future.
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  • #753,968
  • Jun 23, 2023 6:58am Jun 23, 2023 6:58am
The price of this trading pair 1.2742 is trading in the range of the lower Bollinger bucket between the middle of 1.2763 and the lower edge of 1.2734. Selling in the direction of the indicator trend is now the most promising. Since, according to the interpretation of trading relative to the Bollinger bands, the price has such an arrangement, selling at the moment is most suitable. Breaking through and fixing above the middle of 1.2763 will certainly lead to purchases. Until this happens, we continue to hold the shorts to the bottom of the envelope 1.2734. It is necessary to apply the older timeframe H4, but this is provided that the price goes beyond the envelope, usually at increased volatility. The target price is now the lower limit of the envelope 1.2734 on М30.

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  • #753,969
  • Jun 23, 2023 6:58am Jun 23, 2023 6:58am
Quoting IgorGG
So there is a bullish case for both currencies.
Both GBP and USD are showing significant strength vs. most other major currencies, but that makes the pair difficult to trade, so my week is done. Fed speakers have no reason to change the tone, and the S&P PMIs are just not as important because ISM does it better. On the other hand, the 2-year spread is pushing higher in favour of the UK, so all in all, mixed signals. Good luck if you like gambling though.
  • #753,970
  • Jun 23, 2023 7:02am Jun 23, 2023 7:02am
Quoting Pat Chiko
Dolla Index U.S. DOLLAR INDEX session high meeting resistance; Watching for possible test for PLUNGE in dollar index incoming.{image}
UJ also at a good Short setup
More time in the market, does not mean you trade better!
  • #753,971
  • Jun 23, 2023 7:05am Jun 23, 2023 7:05am
Quoting Pat Chiko
{quote} GU Plan "C" Hope will get some losses covered Trying to reduce damage to protect capital {image}
Nice pak cik
  • #753,972
  • Jun 23, 2023 7:09am Jun 23, 2023 7:09am
As soon as it goes above the next yellow LQ zone you can add more contracts while you take off some partials.

Trading without liquidity is like walking/working without eyes.
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  • #753,973
  • Jun 23, 2023 7:19am Jun 23, 2023 7:19am
Quoting Fardeen1209
{quote} UJ also at a good Short setup

I'm wearing my snow blade shoe to slide down.
(It's in the other room)
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #753,974
  • Jun 23, 2023 7:23am Jun 23, 2023 7:23am
Quoting Pat Chiko
{quote} GU Plan "C" Hope will get some losses covered Trying to reduce damage to protect capital {image}

GU

Salvage and Rescue job

Team "C" going for salvage job trying to recover remaining underwater position ASAP.
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #753,975
  • Jun 23, 2023 7:24am Jun 23, 2023 7:24am
Quoting thevisitor
Buy DS1 1.2701
Sl positive
  • #753,976
  • Jun 23, 2023 7:24am Jun 23, 2023 7:24am
EUR/GBP
long.0.85512
sl.0.85180
  • #753,977
  • Jun 23, 2023 7:28am Jun 23, 2023 7:28am
Quoting Pat Chiko
{quote} GU Plan "C" Hope will get some losses covered Trying to reduce damage to protect capital {image}
Wow, Pat, may I ask?
If hard stops will get hit, what % of account will you lose?
  • #753,978
  • Jun 23, 2023 7:31am Jun 23, 2023 7:31am
Quoting Headland
...finally an upside follow-thru on the 2 x hammer-esq 1hr candles @ current dly lo...after a p/back and bounce from a prev 5min sw hi zone =prev res = pot rbs. 30min falling wedge also broke to upside, it became a 1hr falling wedge when current dly lo firmed up as a fractal swing lo but was challenging top trendline of the wedge by then. Is that the lo of today/this week @ 2684? May depend on U.s data later. 76.4% of the day's main downmove reached @ current p/back hi. 1hr below {image}

Were you formally an MI6 agent or an undercover spy in your early days?
The language is precise and short, like a sniper giving instructions to a shooter on wind direction and velocity.

Thanks ..James,
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #753,979
  • Jun 23, 2023 7:31am Jun 23, 2023 7:31am
Quoting tiborf71
EUR/GBP long.0.85512 sl.0.85180
Of course you can take that position, but when EU, GU, and EG are all in an upswing on the same TF, EU is the preferred pair.
To free Gazans of Hamas, use whatever it takes.
  • #753,980
  • Jun 23, 2023 7:31am Jun 23, 2023 7:31am
Possibly seen the lows of the day, failed to break below 127. Maybe a stalemate finish today?
Insane in the Brain..
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