Cable Update (GBPUSD) | Page 37744 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #754,861
  • Jun 29, 2023 5:07am Jun 29, 2023 5:07am
My take all,
i don't know at this stage where price is going, i am HOPING it goes to 126, 67 so that I can sell, Doji on 1 hr
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1.png Size: 21 KB
  • #754,862
  • Jun 29, 2023 5:08am Jun 29, 2023 5:08am
Quoting noox
{quote} 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.
The key is not just defining the turning point, it is the whole process of trading.

A correction which exists in many forms consists of three legs , when the continuation happens point B will break

In Gu H1 currently there was only one leg up so we wait for the next leg up, it just so happened leg B subdivided into 3 itself which alerted me to the fact we should get a good move up , however i do not trade the up move because it could be short , look up running flats etc but i think in this case it is a zigzag because B did not go below A
Follow The Markets Structure - Patience and Discipline
  • #754,863
  • Jun 29, 2023 5:10am Jun 29, 2023 5:10am
Quoting pipfarm
{quote} 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
It's safe to say that if majority of traders are Long that this majority creates a bigger volume than minority who are Short? I'm sure it is the case. Look, I'm following this for quite some time now and it has proven to be correct. When outlook was extremely bearish back when Pound was nearly below parity against USD, then this correction came in and swept away all those majority of traders (volume) who were Short. I respect what you guys are saying and everyone has their own idea of what is going on in the FX market. I have mine and until I start to see that this isn't the case, it's what I'll continue to believe in. Thanks!
  • #754,864
  • Jun 29, 2023 5:14am Jun 29, 2023 5:14am
Attached Image (click to enlarge)
Click to Enlarge Name: GOLD.png Size: 17 KB

Gold poised to explode to the upside?
  • #754,865
  • Jun 29, 2023 5:15am Jun 29, 2023 5:15am
Quoting TheWraith
{quote} It's safe to say that if majority of traders are Long that this majority creates a bigger volume than minority who are Short? I'm sure it is the case. Look, I'm following this for quite some time now and it has proven to be correct. When outlook was extremely bearish back when Pound was nearly below parity against USD, then this correction came in and swept away all those majority of traders (volume) who were Short. I respect what you guys are saying and everyone has their own idea of what is going on in the FX market. I have mine and until...

Yes but remember the short traders might have closed their positions causing the price to go up but i see where your coming from you are using that theory to counter trade

When i say short traders i am talking about banks , they are the only ones that can cause these moves with the volume they trade, we just follow
Follow The Markets Structure - Patience and Discipline
  • #754,866
  • Jun 29, 2023 5:16am Jun 29, 2023 5:16am
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....
It depends on the TF that you are viewing as to whether or not you are catching reversals. From a purely technical standpoint, as soon as all of the TFs align, you are trading the largest TF that took part in the retracement swing. Therefore, you are indeed catching the reversal--the reversal of that retracement TF as it make s a TREND CONTINUATION to the higher TF that it is returning to. But if you are looking at some other TF and making a judgement of this smaller TF, then it is not a reversal at all. In fact, if you go to a high enough TF, you won't even see ANYTHING significant happen--the smaller TFs swings are all BURIED and distorted inside of a single bar.

You can choose whichevever TF you want for the direction bias. Then TFs below it will make a retracement. You decide as the retracement ends if the conditions warrant making an entry or not. The "rules" are exactly the same whether the swing you are looking at for direction looks like a retracement to a larger TF or looks like a thrust wave.
To free Gazans of Hamas, use whatever it takes.
  • #754,867
  • Jun 29, 2023 5:19am Jun 29, 2023 5:19am
GU divergence
Attached Image (click to enlarge)
Click to Enlarge Name: 5583DB2C-22E9-445E-9721-BBF92F10F411.png Size: 43 KB
  • #754,868
  • Jun 29, 2023 5:20am Jun 29, 2023 5:20am
XAUUSD
Attached Image (click to enlarge)
Click to Enlarge Name: B7E22369-9BBD-4193-A84A-925F3B528D7C.png Size: 37 KB
My telegram: https://t.me/avidforex
  • #754,869
  • Jun 29, 2023 5:21am Jun 29, 2023 5:21am
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?
Many come for the arguments. DRAMA is what fuels many folks--just look at the posts when a wave of drama sweeps over a thread.
To free Gazans of Hamas, use whatever it takes.
  • #754,870
  • Jun 29, 2023 5:29am Jun 29, 2023 5:29am
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....

All my charts have the current timeframe and higher timeframe swings on them ,this is what makes this method unique.

eg. My daily chart contains the daily swings and the weekly swings when the daily swing moves above the weekly i assume that is a correction, remember all on the daily chart then i will look at the Weekly chart

Now remember my weekly chart will contain the weekly swings and the monthly swings and i want to see if my weekly swing is moving with or against the monthly, if it is moving against the monthly i will leave it , if it is moving with the monthly i know the TFs are aligned.


Trading corrections or some call them reversals is a different beast all together hence i try to avoid trading them but i gave the information today for the corrections to help you guys out.
Follow The Markets Structure - Patience and Discipline
  • #754,871
  • Jun 29, 2023 5:31am Jun 29, 2023 5:31am
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_2023-06-29-13-28-54-670_net.metaquotes.metatrader4-edit.jpg Size: 650 KB
yes yes yes
  • #754,872
  • Jun 29, 2023 5:34am Jun 29, 2023 5:34am
Quoting DrDave
{quote} It depends on the TF that you are viewing as to whether or not you are catching reversals. From a purely technical standpoint, as soon as all of the TFs align, you are trading the largest TF that took part in the retracement swing. Therefore, you are indeed catching the reversal--the reversal of that retracement TF as it make s a TREND CONTINUATION to the higher TF that it is returning to. But if you are looking at some other TF and making a judgement of this smaller TF, then it is not a reversal at all. In fact, if you go to a high enough...

Do me a favour and do not answer for me. Your theory has nothing to do with mine, your wrong about all timeframes have to be aligned, your making it too complicated when it is not, your MAs are not a true reflection of higher or lower timeframes.
Follow The Markets Structure - Patience and Discipline
  • #754,873
  • Jun 29, 2023 5:38am Jun 29, 2023 5:38am
I have been waiting for this move since 2 weeks ago and now i think its time for the long run
executed 2 trades on long and lets see how this turns out
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusdd.png Size: 64 KB
Click to Enlarge Name: gbpusd.png Size: 64 KB
  • #754,874
  • Jun 29, 2023 5:40am Jun 29, 2023 5:40am
Quoting LitEU
GU divergence {image}
...not being pedantic, but that is not (regular) [bullish] divergence as price did make an equal or lower lo.
-------------------------------------------------------------------------------------------------

...dly pivot/38.2% of 2759-2606 reached ' current dly hi

1hr below
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 18 KB
Trader with an Edge.
  • #754,875
  • Jun 29, 2023 5:40am Jun 29, 2023 5:40am
Point on trading corrections

Gold,USDJPY, USDCAD , could be running flats then we would be in trouble.

Eurusd turned into an expanding flat

all on H1 but it is hard to know which type will happen hence i do not touch them
Follow The Markets Structure - Patience and Discipline
  • #754,876
  • Jun 29, 2023 5:44am Jun 29, 2023 5:44am
Quoting pipfarm
{quote} All my charts have the current timeframe and higher timeframe swings on them ,this is what makes this method unique. eg. My daily chart contains the daily swings and the weekly swings when the daily swing moves above the weekly i assume that is a correction, remember all on the daily chart then i will look at the Weekly chart Now remember my weekly chart will contain the weekly swings and the monthly swings and i want to see if my weekly swing is moving with or against the monthly, if it is moving against the monthly i will leave it , if...
Ahh thanks sir, now it is clearer and know what to look on the chart.
A good starting point for timeframe allignment
More time in the market, does not mean you trade better!
  • #754,877
  • Jun 29, 2023 5:47am Jun 29, 2023 5:47am
Enough playing around
Break it down All ready
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_2023-06-29-13-34-24-080_net.metaquotes.metatrader4.jpg Size: 621 KB
yes yes yes
  • #754,878
  • Jun 29, 2023 5:49am Jun 29, 2023 5:49am
Personally, I have a hard time listening to michael huddleston the pioneer of ICT concepts, reason being that he talks a lot during his lectures but I’m starting to see that most of the things I discovered in my years of trading have been mentioned in the past by Micheal.

SECRET: go and study ICT 2022 mentorship. Forget about the fact that he likes attention. That’s his weakness just focus on what he’s delivery. His good part out weighs his ugly part. No one is perfect.

You may not be able to trade exactly like him but trust me you’ll be educated and find your way around the chart!

ICT IS A GENIUS! LETS GIVE HIM THE ACCOLADES HE DESERVES.
My telegram: https://t.me/avidforex
  • #754,879
  • Jun 29, 2023 5:50am Jun 29, 2023 5:50am
Quoting Fardeen1209
{quote} Ahh thanks sir, now it is clearer and know what to look on the chart. A good starting point for timeframe allignment

GU
My H4 chart is showing that we are possibly moving into a 4H correction because 4h is starting to move above D1 , remember MY 4H chart shows 4H and D1 all on the same chart
Follow The Markets Structure - Patience and Discipline
  • #754,880
  • Jun 29, 2023 5:56am Jun 29, 2023 5:56am
Quoting Headland
{quote} ...not being pedantic, but that is not (regular) divergence as price did make an equal or lower lo. ------------------------------------------------------------------------------------------------- ...dly pivot/38.2% of 2759-2606 reached ' current dly hi [b]1hr below {image}
Your analysis and your chart are excellent, but I don't know when the colors and ranges will be back, and the analysis you send, how far the price can go.
Do not get emotional when you gain or lose
201 traders viewing now