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Cable Update (GBPUSD)

  • #754,841
  • Jun 29, 2023 4:26am Jun 29, 2023 4:26am
Quoting BeeTogether
Morning all, sense a slight stall until data later, 126 not broken, and the retrace up to 127 not happened yet. the upside looks massive at 12850 and above whilst the lower area below 126 looks limited at 12460-80 {image}

Thanks for the chart ,

I have Bella's Price Objective 2 = 1.24971 , i cannot say my position will hold till that time , if it works will require trailing.

Bella
Goddess of Thunder..
  • #754,842
  • Jun 29, 2023 4:28am Jun 29, 2023 4:28am
Quoting Fardeen1209
{quote} First one it was london session, not sure tho The second one NY session, put on the trade, went to fry some chicken strips for dinner, back to monitor boom, ~250pips. Didnt even know what happen just close everything at market orders. Still remember the second one, because it is one of my best trades
Yeah i know what u mean. Same here, my best trades were when i was half-sleeping/uncommitted . unless scalping.
You have an IQ lower than 90 if you interact with this user.
  • #754,843
  • Jun 29, 2023 4:28am Jun 29, 2023 4:28am
Quoting Fardeen1209
{quote} Thanks sir, trying to understand your alignment theory, its quite hard to understand, not fully understood it all, but it seems like structure theory but on lower timeframe? You wait for the correction after it retrace significantly of the previous impulsive move, you jump in favour of the previous impulsive swing which is in favour of the higher tf price movement . Correct me if i'm wrong. What i dont understand is how you will catch a reversal. Since the reversal will be a minor swing against the previous lowertime (30mins and 1hr) trend....
I will explain more at some point
Follow The Markets Structure - Patience and Discipline
  • #754,844
  • Jun 29, 2023 4:32am Jun 29, 2023 4:32am
Quoting TheWraith
{quote} Both interventions lasted about 600 pips. 400-500 pips should be in the bag in my opinion. After that I will look for going Long until recession hits US. I think this intervention won't leave the last highs behind. One more period of Yen depreciation will follow after intervention. Then, we wait for another one, crisis or move by BoJ.
UJ bull reapproaching the land of BOJ/MOF intervention.
But no matter how much intervention they will make, the only solution is to start hiking. To at most 0.5% in the near term.
The YCC upper limit widening will have no great effect.
Also, BOJ need to stop daily buying of bonds. CPI is gradually increasing.
Carry trading is killing japanese importer, and majority are consumer products which are imported to Japan.
More time in the market, does not mean you trade better!
  • #754,845
  • Jun 29, 2023 4:33am Jun 29, 2023 4:33am
Quoting pipfarm
{quote} I will explain more at some point
I'm also curious about this. Mostly about how you define the turning point on a specific tf: is it a fixed set of rules or is it more art than science? Seems to me the key to your strategy is defining the turning points as well as one can on each tf.
  • #754,846
  • Jun 29, 2023 4:37am Jun 29, 2023 4:37am
Quoting Headland
{quote} The market really isn't '..fighting... to take your stop loss..' It doesn't even know you exist. If it does take it, it's nothing personal. The market is always right, which would make your analysis - wrong on this occassion. That's all.
People need to understand that there are no Bulls nor Bears. It's all bullshit. If majority of traders are Long price is going down and same is true for the opposite. How quickly will price go up or down and how long retracements are going to be depends entirely on how many traders are Long and how many are Short. If 90% of traders are Long, then there is not going to be any fucking retracement, or perhaps a small one. If it's 50/50 you will witness price ranging until either majority of traders start going Long or Short. Simple as that. Who are we trading against? Against the majority, same as the shadow which manipulates the price against the said majority. But, we cannot know in real time where majority of traders are, but with our system we can try to guess as our system is dropping hints to us. The better the system the better the hints. Now, there is this fundamental part of FX where some important news will overwrite this rule for a short period of time. But, this is why we shouldn't even trade the news in the first place.
  • #754,847
  • Jun 29, 2023 4:39am Jun 29, 2023 4:39am
Too much resistance at 650. I think the next down move could begin in next hour. Will sell the current bar high with 5 pip sl. Target 100 pips.
  • #754,848
  • Jun 29, 2023 4:41am Jun 29, 2023 4:41am
Quoting Fardeen1209
{quote} UJ bull reapproaching the land of BOJ/MOF intervention. But no matter how much intervention they will make, the only solution is to start hiking. To at most 0.5% in the near term. The YCC upper limit widening will have no great effect. Also, BOJ need to stop daily buying of bonds. CPI is gradually increasing. Carry trading is killing japanese importer, and majority are consumer products which are imported to Japan.
Yeah. Well, we did receive a minor warning few hours ago probably by Japan. The intervention will take place soon as I am seeing more and more traders adding Long positions. You're right though, unless they make a move or the amount of traders Long on Yen reduces from it's extremes, Yen will continue to depreciate rapidly!
  • #754,849
  • Jun 29, 2023 4:46am Jun 29, 2023 4:46am
Quoting TheWraith
{quote} Yeah. Well, we did receive a minor warning few hours ago probably by Japan. The intervention will take place soon as I am seeing more and more traders adding Long positions. You're right though, unless they make a move or the amount of traders Long on Yen reduces from it's extremes, Yen will continue to depreciate rapidly!
Is there anywhere where you can view the overall sentiment? or which currency has had the most positions/volume in the last 3-5 days?
You have an IQ lower than 90 if you interact with this user.
  • #754,850
  • Jun 29, 2023 4:47am Jun 29, 2023 4:47am
Go to the source
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_2023-06-29-12-40-11-732_net.metaquotes.metatrader4-edit.jpg Size: 729 KB
yes yes yes
  • #754,851
  • Jun 29, 2023 4:49am Jun 29, 2023 4:49am
Quoting dele5000
{quote} Just check recent data from US and comments from monetary policy makers
I have no clue about any of it.
sorry.

charting only.
  • #754,852
  • Jun 29, 2023 4:53am Jun 29, 2023 4:53am
Quoting Ferna
{quote} Is there anywhere where you can view the overall sentiment? or which currency has had the most positions/volume in the last 3-5 days?
This site is the best I've found so far.
Been following it enough time to know it's good enough for this purpose.

For example, look CHF/JPY and how many traders are Long and how many are Short and you'll understand what is going on perfectly.

https://forexclientsentiment.com/
  • #754,853
  • Jun 29, 2023 4:54am Jun 29, 2023 4:54am
Quoting alienguy123
{quote} i totally agree, why you need to argue with ppl whether correct or wrong? you come to market is argue right or wrong or to make money?
Lolzzz
  • #754,854
  • Jun 29, 2023 4:58am Jun 29, 2023 4:58am
Quoting Moty
Go to the source {image}
this is correct
  • #754,855
  • Jun 29, 2023 4:58am Jun 29, 2023 4:58am
Quoting TheWraith
{quote} People need to understand that there are no Bulls nor Bears. It's all bullshit. If majority of traders are Long price is going down and same is true for the opposite. How quickly will price go up or down and how long retracements are going to be depends entirely on how many traders are Long and how many are Short. If 90% of traders are Long, then there is not going to be any fucking retracement, or perhaps a small one. If it's 50/50 you will witness price ranging until either majority of traders start going Long or Short. Simple as that....
First of all, the majority of traders sentiment, i think the data is retail traders. We are bound to lose if we look at the bigger picture.
As for news, i disagree with you mate. Having a good understanding of news (talking about economic data here) is a very good way to grow your account. You can anticipate the price movement of certain data (like cpi, nfp, rate day) and the chance for price to unfold in favour of your fundamental part is bigger than other time. However there is always risk as market reaction could be different from what you've planned, but during these events you can keep the risk very small and very big rewards. I'm not talking about jumping 5mins right before the news release, i dont have anything to cater for these type of trading in my strategy, i called this gambling.
More time in the market, does not mean you trade better!
  • #754,856
  • Jun 29, 2023 5:00am Jun 29, 2023 5:00am
Quoting kenny4real
{quote} Lolzzz
market is alw full of uncertainty, our view is just base on reasonable assumption or past experience, it is not 100%

it is alway no matter whther we right or wrong, it is important only when we right we earn how much while when we loss, we loss how much
  • #754,857
  • Jun 29, 2023 5:00am Jun 29, 2023 5:00am
Quoting Bella.al
{quote} Current Rate : 1.26453 So , Lots of fighting going on to take my stop loss = 1.26659 and if that holds Bulls i am coming for your stoploss below 1.26018 Bella's Blue ( beta v1.6 c ) {image}
Current Analysis through Hourly chart , Resistance at 1.26568 and then my Stoploss at 1.26659
( waiting for an outcome ).

Bella's Date Forecasting

Attached Image (click to enlarge)
Click to Enlarge Name: DateForecasting.png Size: 13 KB
Goddess of Thunder..
  • #754,858
  • Jun 29, 2023 5:00am Jun 29, 2023 5:00am
Just tested 2653 as not enough, not extended 2663 plus , so 3rd h4 candle up may show weakness correction to failure start. So wait more than 3hrs to see what happen! Next news to get the turmoils!
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20230629-135754.png Size: 51 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #754,859
  • Jun 29, 2023 5:02am Jun 29, 2023 5:02am
Quoting TheWraith
{quote} People need to understand that there are no Bulls nor Bears. It's all bullshit. If majority of traders are Long price is going down and same is true for the opposite. How quickly will price go up or down and how long retracements are going to be depends entirely on how many traders are Long and how many are Short. If 90% of traders are Long, then there is not going to be any fucking retracement, or perhaps a small one. If it's 50/50 you will witness price ranging until either majority of traders start going Long or Short. Simple as that....
Majority is not the amount of traders it is volume which we do not know.

The combined volume of retail traders can not much the volume of a central bank or regular bank
Follow The Markets Structure - Patience and Discipline
  • #754,860
  • Jun 29, 2023 5:05am Jun 29, 2023 5:05am
Sold it. 5 pip sl. Target 2545
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