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Cable Update (GBPUSD)

  • #754,041
  • Jun 23, 2023 12:24pm Jun 23, 2023 12:24pm
Quoting tiborf71
{quote} ok, but you took into account that near the bottom of the channel there is support that seems serious. H1. I see that the price is stuck between 1.26805 and 1.27260. these are the two levels we have to pay attention to.
No, I did not take into account any support at all. I took into account ALL of the TFs from M1 through D1, then focused on M30 through H4 as the rally progressed upward through the TFs. And as the rally began to slow and M30 turned back down for the continuation, I checked every 30 minutes to see if H1 also returned down. And after it did, I began to monitor M1 through H2 to see when ALL of that group was returned down and sold when it was. (As long as ANY TF in that group was up, there was risk that an up move could take over.)

Check the earlier post for the visual aid that I added.

As you will see from the visual aid, it is quite simple to monitor 4 TFs at once in a single chart.
To free Gazans of Hamas, use whatever it takes.
  • #754,042
  • Jun 23, 2023 12:31pm Jun 23, 2023 12:31pm
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yes yes yes
  • #754,043
  • Jun 23, 2023 12:31pm Jun 23, 2023 12:31pm
breaking any level can give you the right direction.
let's see.
  • #754,044
  • Jun 23, 2023 12:32pm Jun 23, 2023 12:32pm
Quoting Bella.al
{quote} GMT Time : 15:32 I started the trade at 13:38 PM GMT and it is finishing 2 hours, market is just sleeping. I really need it to go touch the pivot hopefully today at 1.27700 it would be cool! Bella's Blue ( beta v1.6 b ) {image}
That Is Right Long Is The Way To Go

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For a change I start with small lot this time

Because its a lazy Day

Anyway Current Target 1.27614 Its Adjustable Up Or Down

See you for now
HBS - Hussain Bin Salman
  • #754,045
  • Jun 23, 2023 12:34pm Jun 23, 2023 12:34pm
Quoting Bella.al
{quote} I can't believe i am still watching the chart on Friday evening. Anyways, i am still surviving, 4 hours left broker will close and it is almost near my order open price . bella..
You can fall in love with chart There is no harm Hahaaa
HBS - Hussain Bin Salman
  • #754,046
  • Jun 23, 2023 12:41pm Jun 23, 2023 12:41pm
Quoting Tpttonly
{quote} That Is Right Long Is The Way To Go {image} For a change I start with small lot this time Because its a lazy Day Anyway Current Target 1.27614 Its Adjustable Up Or Down See you for now
Unless you are a scalper, don't get overly excited about up swings when D1 has started DOWN.

And keep in mind that so far, the RALLIES have made it only through H2. So there are still plenty of TFs between H2 and D1 that should rally and RETURN DOWN.
To free Gazans of Hamas, use whatever it takes.
  • #754,047
  • Edited 12:53pm Jun 23, 2023 12:42pm | Edited 12:53pm
Quoting DrDave
{quote} Fine and dandy that price went to the bottom of a trend channel (on some TF), but you need to account for what the conditions are on SEVERAL TFs. And when taking ALL of the information into consideration, it is more likely that price will break that bottom channel line and go down further than for it to make a reversal off of that bottom line. EDIT: Added a visual aid. The red dotted vertical is the sell entry spot based on ONLY those 4 lines that give a view of 4 consecutive TFs. {image}
can I ask you something, if you trade according to this method, how do you solve the SL issue.
and how you can predictably regulate DD..
actually, with this question I mean money management.

peace.
  • #754,048
  • Jun 23, 2023 12:51pm Jun 23, 2023 12:51pm
Quoting ScalaFX
{quote} easy money 1933 closed for partials, 1935 protected, waiting for more
taken half from second position, nice week close and overall happy trading folks and nice weekend
People don't plan to lose. They lose because they don't plan.
  • #754,049
  • Jun 23, 2023 12:52pm Jun 23, 2023 12:52pm
50K BTC SOON
MY OPINION NOT FINANCIAL ADVISE
  • #754,050
  • Jun 23, 2023 12:53pm Jun 23, 2023 12:53pm
Quoting Bella.al
{quote} I can't believe i am still watching the chart on Friday evening. Anyways, i am still surviving, 4 hours left broker will close and it is almost near my order open price . bella..
Yay, for now i am saved also positive territory. waiting to see how the broker ends the week.

Just to repeat what i did , Traded at 13:38PM GMT on 23.06.2023 Long as Time has Squared Date . Bella's Support : 1.26914 has been a great support.
I have lots of work in the weekend , work on Bella's Hot Zones ( Pivot Points) , Bella's Date Forecasting ( Gann Square of 9 ) and Bella's Trend-0.25 (Elliot waves )

Have a Nice Weekend.

Bella's Blue beta v1.6 b
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Goddess of Thunder..
  • #754,051
  • Jun 23, 2023 1:08pm Jun 23, 2023 1:08pm
Possible incoming WXY on NAS100

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Don't compare your trades to others. Most often the masses are the asses
  • #754,053
  • Jun 23, 2023 1:23pm Jun 23, 2023 1:23pm
On the 15mins and daily it looks quite bearish. For me failure to close above 12730 will confirm a bearish sentiment for next week. Naturally data and geopolitical factors can change that
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Insane in the Brain..
  • #754,054
  • Edited 1:50pm Jun 23, 2023 1:27pm | Edited 1:50pm
After so many high impact news today and negatives, price miraculously save good tanking, speculially 2698 /90 break should easily down towards 2630 but looks 2679 limit protected in anyways while with limits 2589 and 2543 bull still intact ! Lets see next week if can survive that limit! Take care
Usdx ok for more bull, reversal signal and breakout already! Atleast 103.31 wave 4 test. So others likely break most limit down next days.
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #754,055
  • Jun 23, 2023 1:27pm Jun 23, 2023 1:27pm
Quoting DrDave
{quote}Unless you are a scalper, don't get overly excited about up swings when D1 has started DOWN. And keep in mind that so far, the RALLIES have made it only through H2. So there are still plenty of TFs between H2 and D1 that should rally and RETURN DOWN.
Dave,
You have lost me a long time ago. Mt4 with most brokers are made up of 1min, 5min, 15 min, 30 min, 1hr, 4hr, d1 weekly and monthly t/frames. 99% of traders are using the standard platforms so with your 2hr t/frames and so forth you have lost all of us and especially me, I don't know what is special about the 2 hr t/frame which you seem to rely heavily upon. I truly believe that you need to speak to an audience that you can relate to, But here you are losing me.
Cheers.
Trade to trade another day
  • #754,056
  • Jun 23, 2023 1:42pm Jun 23, 2023 1:42pm
That's the problem with indicators..

You can have sell signal on lower TF's, but buy on higher time frames. You can also have hourly suggesting buy, H4 sell and daily buy at the same time.

My opinion is: IT DOESN'T MATTER WHAT TF IT IS. IT DOESN'T MATTER WHAT TIME IT IS. IT ONLY MATTERS WHERE PRICE IS HEADING NEXT AND WHERE PRICE WAS. When is irrelevant.
  • #754,057
  • Jun 23, 2023 2:02pm Jun 23, 2023 2:02pm
Quoting TheWraith
That's the problem with indicators.. You can have sell signal on lower TF's, but buy on higher time frames. You can also have hourly suggesting buy, H4 sell and daily buy at the same time. My opinion is: IT DOESN'T MATTER WHAT TF IT IS. IT DOESN'T MATTER WHAT TIME IT IS. IT ONLY MATTERS WHERE PRICE IS HEADING NEXT AND WHERE PRICE WAS. When is irrelevant.
That is pure price action irrespective of anytime frame, repainting in every minutes as bull and bear interact continually at any static level we used to compare, should be nothing static here and comparison be between all dynamic price changes, bull in bear and bear in any bull to have a resultant deviation time specific as reference for simplicity of understandings, should be no specific time frames we see as m5, 15 etc as the same deviation be same in all frames, smaller or bigger . Physics students may describe perfectly.. Take care
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #754,058
  • Jun 23, 2023 2:08pm Jun 23, 2023 2:08pm
Quoting TheWraith
That's the problem with indicators.. You can have sell signal on lower TF's, but buy on higher time frames. You can also have hourly suggesting buy, H4 sell and daily buy at the same time. My opinion is: IT DOESN'T MATTER WHAT TF IT IS. IT DOESN'T MATTER WHAT TIME IT IS. IT ONLY MATTERS WHERE PRICE IS HEADING NEXT AND WHERE PRICE WAS. When is irrelevant.
Your opinion is respected however what most traders here do not understand is that every time frame contains the swings of the next higher timeframe both corrective and impulsive ie with and against, therefore the higher probability is to go with the higher timeframe .

ie H1 contains H4 swings and H4 contains D1 swings so if H1 is in a correction against H4 and H4 is moving above D1 then probability is higher to trade in the direction of the HTF, it is just a matter of waiting for H1 to move out of the correction back into the direction of H4
Follow The Markets Structure - Patience and Discipline
  • #754,059
  • Jun 23, 2023 2:36pm Jun 23, 2023 2:36pm
Dropped this b4 just for those who might have missed them
Attached File(s)
File Type: pdf Price Action Forex Trading Nial Fuller _230303_070439.pdf   2.5 MB | 294 downloads
File Type: pdf market-structure-and-entry-setup_compress.pdf   6.3 MB | 311 downloads
File Type: pdf MACD Trend Following Strategy (2).pdf   1.6 MB | 725 downloads
File Type: pdf Bank trader strategy (1).pdf   2.2 MB | 328 downloads
File Type: pdf Profitable basic shapes.pdf   1.3 MB | 292 downloads
File Type: pdf 4_5902347893016101956.pdf   2.4 MB | 256 downloads
File Type: pdf 4_5902347893016101946.pdf   7.5 MB | 243 downloads
File Type: pdf The Ultimate Price Action Trading Guide - Atanas Matov.pdf   4.0 MB | 290 downloads
File Type: pdf The ICT Bible V1 - By Ali Khan_230227_200632 copy.pdf   5.0 MB | 329 downloads
  • #754,060
  • Edited Jun 24, 2023 3:43am Jun 23, 2023 2:47pm | Edited Jun 24, 2023 3:43am
Quoting Wavegarrick
{quote} Dave, You have lost me a long time ago. Mt4 with most brokers are made up of 1min, 5min, 15 min, 30 min, 1hr, 4hr, d1 weekly and monthly t/frames. 99% of traders are using the standard platforms so with your 2hr t/frames and so forth you have lost all of us and especially me, I don't know what is special about the 2 hr t/frame which you seem to rely heavily upon. I truly believe that you need to speak to an audience that you can relate to, But here you are losing me. Cheers.

Look at this visual aid again. Note that NO H2 CHART HAS BEEN DISPLAYED THERE! So why are you suddenly confused when you see some INDICATOR LINES (that are a proxy for price) that include a LABEL for a "non-standard" TF??? Explain, if you can, how speaking of H1, H2, H4 is different in principle from speaking of M15, M30, H1. In both cases, 3 consecutive TFs that the next higher TF has a period that is 2X the previous TF.



I have stated many times that retracements progress upward through the TFs. So in broad terms, when the retracement progresses toward a higher TF that is creating the direction bias, the retracement can be considered as an attempt to reverse that higher TF. When the reversal TF is rather far away from the higher TF, then it is very low probablility that the reversal can travel far enough to also reverse that higher TF. What is more likely to happen is that the reversal will end and a continuation in the direction of the higher TF commences.



The CLOSER the reversal TF is to that higher TF the higher the probablility that the reversal WILL travel far enough that it also reverses the higher TF. And, for that higher TF to reverse, EVERY TF below it WILL be in a reversal swing as well. So, if the TF that is 1/2 the period of the higher TF is not reversed, it is IMPOSSIBLE for the higher TF to reverse. And similarly, if the TF of 1/2 the period of the higher TF IS reversed, it is EXTREMELY likely that the higher TF will be reversed.



Therefore, if this 1/2 period TF is NOT being checked to see if it is reversed or not, then VERY valuable information about how likely that the higher TF will be reversed "soon" is missing. So, in that visual aid, you can see that during the rally, it progressed through H2, but H4 remained down. If H4 is taken as that "higher TF" that has a down bias, then when H2 is seen to rally, it becomes highly likely that H4 will also rally. So when watching this rally continue, it is either going to end with H2 returning down or with H4 swinging up. But if you do not have the H2 in view and limit your view to M30, H1, and H4, you would see H1 return down and immediately look for a continuation sell. But unbeknownst to you, H2 is also in that rally. And as long as H2 is in that up bias, it is possible for H1 through M15 to start going back up. And they can cycle up-and-down in a range and your short position goes nowhere, and then price begins cycling higher, and M30 swings up, then H1 swings up, and now M1 through H2 are all back up again and price contines higher and there goes H4 up as well: Your short position stopped out, likely with a loss.



But if you had H2 in your view as well, you would have seen that it had joined the rally and would have known that selling H1 as soon as it returned down was jumping the gun. Plus, you would begin making your plan for making a long entry in the event that the H2 did not return down and the H4 would swing up instead.
To free Gazans of Hamas, use whatever it takes.
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