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Cable Update (GBPUSD)

  • #754,561
  • Jun 28, 2023 3:36am Jun 28, 2023 3:36am
Quoting TheWraith
{quote} I don't understand sticking to one pair only. Okay, GBP/USD can be volatile and have opportunities, but there are other 27 pairs to trade also. Especially only trading EUR/USD for example, the worst pair to trade ever and some people only focus on EUR/USD.
Also it is a big mistake to try and predict every move , some people give the impression it is easy to do , ie Patchiko, look at his last two trades completely wrong, i am not saying he is a bad trader , clearly he has some good skills but trying to emulate him you will go broke and i quote his last statement " GU 30M setting up for trend trading" unfortunately it was not because the whole move was corrective and now price is coming out of the correction the H4 is moving with D1 trades should be taken from H1 correction back into the H4/D1 swing

His audusd long trade clearly the whole swing is a correction as it was moving against H4/D1 now price has moved back into alignment for shorts
Follow The Markets Structure - Patience and Discipline
  • #754,562
  • Jun 28, 2023 3:41am Jun 28, 2023 3:41am
Get ready to party today
  • #754,563
  • Jun 28, 2023 3:45am Jun 28, 2023 3:45am
Quoting TheWraith
{quote} Had a signal on EUR/GBP to go Long, but didn't take it...
EURGBP over 20 pips move up now , perfectly aligned
Follow The Markets Structure - Patience and Discipline
  • #754,564
  • Jun 28, 2023 3:45am Jun 28, 2023 3:45am
3rd 30min (and below) breach of Asian lo proves more fruitful for the bears...bounce now @ a prev 1hr/4hr sw lo zone

1hr below
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Trader with an Edge.
  • #754,565
  • Jun 28, 2023 3:47am Jun 28, 2023 3:47am
Quoting voeltoez
sold 1.2735 targetting 1.2700 before LO
closed manually @1.2705..
now im focussing on eu..trapped there lol..
  • #754,566
  • Jun 28, 2023 3:50am Jun 28, 2023 3:50am
Quoting TheWraith
{quote} I don't understand sticking to one pair only. Okay, GBP/USD can be volatile and have opportunities, but there are other 27 pairs to trade also. Especially only trading EUR/USD for example, the worst pair to trade ever and some people only focus on EUR/USD.
its about volume&liquidity. you can trade large lots with EU, GU or UJ. so i specialized on GU only, because i can place 10lots or more without a meaningful slippage.

and GU is normally moving 100pips/day or more. it has enough to give for a living;-)

in a rangy market like this you can lower your TP to 5-10 pips and then its also enough.
trading is like dancing, don't think and just listen to the music!
  • #754,567
  • Jun 28, 2023 3:50am Jun 28, 2023 3:50am
Quoting pipfarm
{quote} Move on to another pair or timeframe
i'll try.. but i dunno, its like we have to date another girl and knowing her more deeply than the previous one..

btw gu is dropping..
is it good to buy from the support?
or will it continue going down?
  • #754,568
  • Jun 28, 2023 3:51am Jun 28, 2023 3:51am
Quoting pipfarm
{quote} Also it is a big mistake to try and predict every move , some people give the impression it is easy to do , ie Patchiko, look at his last two trades completely wrong, i am not saying he is a bad trader , clearly he has some good skills but trying to emulate him you will go broke.
I've been around this forum for a quite a while and Pat had a great success in the past, but yeah even Pat cannot stay successful for such a long time. He's a very good trader, but there comes the time when a good streak will end. Now, not losing as much when you realize trades aren't going well as before, this is where the best of the best are divided from good traders.

Now, concerning other traders and how successful or not successful they are, we just don't know. Majority of traders don't even say if they are trading on demo or real account. Another thing is that we do not see the full history of trades to determine who is profitable and who isn't. Now, there are a few traders here that we know for sure are real professional traders who always post their trades and give an update on their trades. Georginson, Navk ,WaveG, Moty etc.. (counting High-Impact only in this case).
There are more that I didn't mention, but we all know by now who is a real trader and who (probably) isn't.

Trading isn't easy and without a good system it's close to impossible to stay profitable consistently.
  • #754,569
  • Jun 28, 2023 3:54am Jun 28, 2023 3:54am
Quoting birdland
{quote} its about volume&liquidity. you can trade large lots with EU, GU or UJ. so i specialized on GU only, because i can place 10lots or more without a meaningful slippage. and GU is normally moving 100pips/day or more. it has enough to give for a living;-)
Absolutely. Good set-ups today (hi-prob/lo-risk) on the 1/3/5/15min trigger so far.

Quoting silverjazz
{quote} i'll try.. but i dunno, its like we have to date another girl and knowing her more deeply than the previous one.. btw gu is dropping.. is it good to buy from the support? or will it continue going down?
It was on the 1/3/5min trigger
No one knows whether this is just a pullback or a sustained bullish move from current dly lo...you just gotta play your edge...you don't have to know what is going to happen next.
Trader with an Edge.
  • #754,570
  • Jun 28, 2023 3:54am Jun 28, 2023 3:54am
Quoting dantpm
{quote} If it is a liquidity hunt, it could easily extend down to 1.27! [EDIT] Actually down to 1.2685 would be even more likely (last weeks low)!
or on the flip yesterdays move up was the liquidity hunt?
Insane in the Brain..
  • #754,571
  • Jun 28, 2023 3:55am Jun 28, 2023 3:55am
Quoting birdland
{quote} its about volume&liquidity. you can trade large lots with EU, GU or UJ. so i specialized on GU only, because i can place 10lots or more without a meaningful slippage. and GU is normally moving 100pips/day or more. it has enough to give for a living;-) in a rangy market like this you can lower your TP to 5-10 pips and then its also enough.
I think spread is what attracts traders to trade USD pairs. For example taking the trade on CHF/JPY will cost you near 7 pips the moment you take the trade and depending on the broker, GBP/USD is only 0.5 pips or 1 or maybe even less. If you can do it keep doing it! Well done! However, what I wanted to tell other traders is when you see that GBP/USD is in some ugly Range and doing full ATR for the day, then focus on some other pairs where you might find it easier to predict where the price will go.
  • #754,572
  • Jun 28, 2023 3:57am Jun 28, 2023 3:57am
Quoting silverjazz
{quote} i'll try.. but i dunno, its like we have to date another girl and knowing her more deeply than the previous one.. btw gu is dropping.. is it good to buy from the support? or will it continue going down?

All pairs are the same

going against a swing is dangerous, support is not to the left , support and resistance are created dynamically as price moves .

Personally i will only take shorts if there is a correction on H1

Trade at your own risk, i am not a financial advisor.
Follow The Markets Structure - Patience and Discipline
  • #754,573
  • Jun 28, 2023 4:03am Jun 28, 2023 4:03am
Quoting pipfarm
{quote} All pairs are the same going against a swing is dangerous, support is not to the left , support and resistance are created dynamically as price moves . Personally i will only take shorts if there is a correction on H1 Trade at your own risk, i am not a financial advisor.
thank you..
sometimes iam losing my confidence and analyze.. when suffered too much loss..
need some refreshment to get back on the track.. phew..
  • #754,574
  • Jun 28, 2023 4:03am Jun 28, 2023 4:03am
Quoting BeeTogether
{quote} or on the flip yesterdays move up was the liquidity hunt?

It is possible or they could have also moved up again today to trap more before moving down. It is a coin flip, we will have to watch how it unfolds.
I believe that spike from last Thursday would have cleared a lot of stops, mainly above and since then they have been pushing down setting up higher stops above to clear with the next push up.
I could easily be wrong.
  • #754,575
  • Jun 28, 2023 4:04am Jun 28, 2023 4:04am
C'mon Dollar, in the name of great Donald J Trump, go up!
  • #754,576
  • Jun 28, 2023 4:05am Jun 28, 2023 4:05am
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closed
  • #754,577
  • Jun 28, 2023 4:10am Jun 28, 2023 4:10am
Quoting TheWraith
{quote} I've been around this forum for a quite a while and Pat had a great success in the past, but yeah even Pat cannot stay successful for such a long time. He's a very good trader, but there comes the time when a good streak will end. Now, not losing as much when you realize trades aren't going well as before, this is where the best of the best are divided from good traders. Now, concerning other traders and how successful or not successful they are, we just don't know. Majority of traders don't even say if they are trading on demo or real account....
A professional trade is someone who is profitable over the long term, i see no evidence of that in this thread, Moty is consistent but a losing trader and at least he is open about it, not one trader here has proven they are professional and consistent over the long term including me.
Follow The Markets Structure - Patience and Discipline
  • #754,578
  • Jun 28, 2023 4:10am Jun 28, 2023 4:10am
Go to the source mf
The 200 ema band
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yes yes yes
  • #754,579
  • Jun 28, 2023 4:11am Jun 28, 2023 4:11am
fxssi.com GBPUSD longs have been increasing since 19th June.

https://fxssi.com/tools/ratios?pair=GBPUSD&int=4hh

26% longs to now 40% longs.

60% are still short however, this could be a turning point.

Bearish
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All Assets NAS100 GLD BTC AUS JPY GBP All Time Return: 18.2%
  • #754,580
  • Jun 28, 2023 4:12am Jun 28, 2023 4:12am
euraud short @ 1.6504
Target 1.5850
POSTMASTER
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