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Cable Update (GBPUSD)

  • #755,721
  • Jul 4, 2023 3:34am Jul 4, 2023 3:34am
Looks to me like D1 is beginning to move into W1 upswing, so i guess this may be the end of D1 down Swing that was moving against W1

Now i will wait for a 4H to make a correction and trade it long from H1
Follow The Markets Structure - Patience and Discipline
  • #755,722
  • Jul 4, 2023 3:36am Jul 4, 2023 3:36am
AUDUSD LONG
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My telegram: https://t.me/avidforex
  • #755,723
  • Jul 4, 2023 3:38am Jul 4, 2023 3:38am
Since there are almost exactly the same number of traders Long and Short, only some High-Impact news is able to provide some play, unfortunately we have nothing today.

Best strategy (probably) in this type of environment is to trade with bigger lot size and take 5-7 pips and get out.

Waveski, this is your specialty!
  • #755,724
  • Jul 4, 2023 3:39am Jul 4, 2023 3:39am
Very Slow Market indeed......

Current Rate : 1.26941
Goddess of Thunder..
  • #755,725
  • Jul 4, 2023 3:40am Jul 4, 2023 3:40am
Slow motion movement this week so far, also noteworthy that the US is on holiday today.

140 - 200 pips is usually the range for the first 3 trade days of the month, so far we have just 65 pips, remaining at least 75 pips to break either 1.2658 or 1.2722...

That's 1.2582 versus 1.2800 by today or tomorrow... This movement so far is seen as the calm before the storm... Trade with utmost caution.
Data + Stat + Risk/Emotions Management
  • #755,726
  • Edited 5:21am Jul 4, 2023 3:46am | Edited 5:21am
Quoting Ferna
{quote} If you lose the market maker wins. They set up an trade in the opposite direction of yours(a hedge) due to statistically retail traders make bad trades and 80% lose. Also since this can sometimes lead to zerosum for them they really need the spread to survive, this is why they are engaged in uour trading since they want u to make as many trades as possible. Imagine if you make 3000 trades in a year and the spread is 1 pip, that’s 3000ips for them +your failure rate. This is also why they are here promoting faulty...
Good post Ferna. By my experience, brokers are in general legal, just living off the spread. There is a corporation that own the market exchanges so all technical issues are set by them thus pocketing participants accounts. Retailer orders are not sent to real market so their Algo can move up and down smootherly. They can hold for nano seconds millions of orders getting in front thus creating spikes in their favour. They do not trade the market but the traders, advanced traders specifically, till kicked out of the industry. It takes no time for this last issue as these traders are transferred to abook(real market), Algorithm killer. Having said this, what can you do? Not a lot except beat them through an excepcional strategy as this is a mathematical game but very hard to solve. Cheers
POSTMASTER
  • #755,727
  • Jul 4, 2023 3:46am Jul 4, 2023 3:46am
I have a short on the usdchf

D1 was in a correction against W1

D1 now is just about beginning to pull out of the correction back down

H4 seems to have made a correction against D1 and H1 has started to trend down , a bit tentative at the moment
Follow The Markets Structure - Patience and Discipline
  • #755,728
  • Jul 4, 2023 3:47am Jul 4, 2023 3:47am
Quoting Georginson
Slow motion movement this week so far, also noteworthy that the US is on holiday today. 140 - 200 pips is usually the range for the first 3 trade days of the month, so far we have just 65 pips, remaining at least 75 pips to break either 1.2658 or 1.2722... That's 1.2582 versus 1.2800 by today or tomorrow... This movement so far is seen as the calm before the storm... Trade with utmost caution.
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You should be working with MSNBC as a favour to them
  • #755,729
  • Jul 4, 2023 3:48am Jul 4, 2023 3:48am
I am Taking Caution and Wearing my Armor

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Goddess of Thunder..
  • #755,730
  • Jul 4, 2023 3:50am Jul 4, 2023 3:50am
Quoting pipfarm
I have a short on the usdchf D1 was in a correction against W1 D1 now is just about beginning to pull out of the correction back down H4 seems to have made a correction against D1 and H1 has started to trend down , a bit tentative at the moment
Any idea about TP? I looked at Monthly and Weekly and have no idea where one should TP on USD/CHF.

Perhaps one can see on Daily Chart, however I'm using phone at the moment and not laptop so I can't see where the Last Buy ended that is below the correct price.
  • #755,731
  • Jul 4, 2023 3:56am Jul 4, 2023 3:56am
Quoting TheWraith
{quote} Any idea about TP? I looked at Monthly and Weekly and have no idea where one should TP on USD/CHF. Perhaps one can see on Daily Chart, however I'm using phone at the moment and not laptop so I can't see where the Last Buy ended that is below the correct price.

I have no idea about t/p , let the swing run until you see some king of exhaustion or just take what your happy with.

Also theoretically it should make a new low below the prior H4 low 8931
Follow The Markets Structure - Patience and Discipline
  • #755,732
  • Jul 4, 2023 3:57am Jul 4, 2023 3:57am
Quoting Lenart
{quote} Hi. Would you care to explain on what you base your predictions? I'd like to learn something
Hi, first of all, i could be wrong plus i cannot explain my strategy for several reasons. Do not wish to be responsable for any loses, this thread is full of corporative employees that favour the industry, if it worked, anyone could sell It having spent 23 years of my life studying and who knows what else. No ofense Buddy. Cheers
POSTMASTER
  • #755,733
  • Jul 4, 2023 3:57am Jul 4, 2023 3:57am
2 hours now under 2700. In a squeeze. A fall in the next few mins to 2680 maybe a move
Emotional Control. Process, not outcome.
  • #755,734
  • Jul 4, 2023 4:06am Jul 4, 2023 4:06am
G/M, bulls making 'heavy weather' of upside progress after coming to grief y/day @ the now prev minor dly/4hr/1hr sw hi zone that extends up to last Fri's 2727/28 prev hi -a 1st test of this and supply met. Upside breach of Asian hi, and again price met supply in the sperate now prev 1hr/4hr sw hi zone, the top of which is coexistent with the former, and has returned to the Asian range. Pretty rangy since 1st test mentioned above, on 1hr anyway.

1hr below
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Trader with an Edge.
  • #755,735
  • Jul 4, 2023 4:08am Jul 4, 2023 4:08am
Quoting Robinhood1
{quote} Hi, first of all, i could be wrong plus i cannot explain my strategy for several reasons. Do not wish to be responsable for any loses, this thread is full of corporative employees that favour the industry, if it worked, anyone could sell It having spent 23 years of my life studying and who knows what else. No ofense Buddy. Cheers
None taken. I fully understand.
I just asked because I hold 1.245 as a valid target.
Trade safe!
  • #755,736
  • Jul 4, 2023 4:14am Jul 4, 2023 4:14am
...last 4hr close a few mins ago (gmt+3 price feed) was an inverted hammer piercing pattern candle.

4hr below
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Trader with an Edge.
  • #755,737
  • Jul 4, 2023 4:24am Jul 4, 2023 4:24am
Quoting Bella.al
{quote} Current Rate : 1.27038 wow, price is climbing up, Time to Wear my Armor , Lets see if we can break above the 1.27220 level. {image}
Ahem.... So the Price Action is still supporting the Bullish View that started on 30.06.2023 , Protected by my Stoploss 1.26656
Expecting a breakout of 1.27220 level this time.

Bella's Blue (beta v1.7 )

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Goddess of Thunder..
  • #755,738
  • Jul 4, 2023 4:31am Jul 4, 2023 4:31am
Quoting BeeTogether
{quote} although 127 seems to be the magnet at the moment
Just as 1.21 was a magnet before, 1.27 seems to be the same haha.

~1.26 has the highest potential for price to reverse at and start going up.
  • #755,739
  • Jul 4, 2023 4:35am Jul 4, 2023 4:35am
...most of the t/fs' 10/20/40 ema crosses are supportive of a bullish view right now, ie crossed up. Of course this can change.

graphic below
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Trader with an Edge.
  • #755,740
  • Jul 4, 2023 4:52am Jul 4, 2023 4:52am
Go goldie
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yes yes yes
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