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Cable Update (GBPUSD)

  • #756,181
  • Jul 5, 2023 11:35am Jul 5, 2023 11:35am
GU may close the H4 gap… the gap is now too pronounced.
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  • #756,182
  • Jul 5, 2023 11:41am Jul 5, 2023 11:41am
Don’t ever stick to your decision, be flexible and dynamic in reasoning. And use a strategy that involves using candle stick to read price. Take partials ASAP.
My telegram: https://t.me/avidforex
  • #756,183
  • Jul 5, 2023 11:46am Jul 5, 2023 11:46am
Quoting BigNumbers
GU may close the H4 gap… the gap is now too pronounced. {image}
first, mark out area where you want to wait for price. This is the most important thing.

then find a candle stick pattern to look out for when price arrive the area and lastly take a decision.
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  • #756,184
  • Jul 5, 2023 11:50am Jul 5, 2023 11:50am
Quoting BigNumbers
GU may close the H4 gap… the gap is now too pronounced. {image}
GU is trying to protect 1.26974 but I’m sure it will give up soon. I don’t know what the USA is doing but these guys are smart.
My telegram: https://t.me/avidforex
  • #756,185
  • Edited 12:43pm Jul 5, 2023 11:51am | Edited 12:43pm
Quoting DrDave
{quote} Compare H1 today for EU, GU, and EG and it will be clear why GU is in the middle.
Dr., is M1 the most accurate Time Frame?
Also, what is a retracement and why does retracements even exist? If of course, this thing we call retracement is a retracement or it's rather something else if you look at it from the point of time.

Now, we know big players have big orders that pull the price in one way or the other, but why then when some big order is taking place do we witness retracements even if they are small? Shouldn't that big order be carried out until it's basically completed and only then perhaps we would witness retracement taking place? What's happening there really?

Now, we cannot agree on which TF is the best. Does this make all the TF's useless? It seems to me that big banks are focused mainly on exchange rate at the end of the day and not so much during the day right? Would this make a Daily TF the best, because it's the TF big banks focus on too, much more so then any other? I mean they are following exchange rates day by day, not hour by hour or 30m by 30m or h4 by h4 right?

All of these things makes my head spin. Questions, questions, so many questions.

Okay, let me ask another question. I am the guy working for the big players. I am the one who screws traders like us over and over again. Now, what TF am I looking at? Dave, is it safe to say I'm not looking at any TF? Rather I look where inactive orders are and how many active orders are going Long and Short, right? Then, I would look for the nearest price where there is another pile of orders waiting to be triggered, and I am especially going to push the price in the direction where majority of orders are sitting, however orders that I will trigger (the majority of orders are let's say Long and I'll go for their SL's first because they make a majority of orders at the moment), take out their SL's and finally readjust to find another pile of orders to trigger and their SL's again.

It's also interesting to me, that how on Earth would we trade if we only knew the price? So, no charts, nothing! We only know the price, how would we trade then?
What is it about these charts that is helping us to make a better decision? Are mutliple TF's really helping us or are they just making life more difficult?

For example, when war broke out in Ukraine, it's common knowledge people should Buy USD, CHF and JPY. When rate hikes started, it's also common knowledge not to Buy Yen, because BoJ isn't doing shit. So, are charts clouding our common knowledge and decision making?

Thanks Dave! I know this is a longer post.
  • #756,186
  • Jul 5, 2023 11:57am Jul 5, 2023 11:57am
Honestly i thought the FOMC would take out the relative equal highs on the H1.. and allow the market to dance a little then tap 1.27573 before dropping
My telegram: https://t.me/avidforex
  • #756,187
  • Jul 5, 2023 12:04pm Jul 5, 2023 12:04pm
Finally H1 candle close below 1.26974. That’s enough to go short
My telegram: https://t.me/avidforex
  • #756,188
  • Jul 5, 2023 12:10pm Jul 5, 2023 12:10pm
Quoting dempire1
{quote} okay so sells have been going good. Closed a plenty today. Was hoping for 1.266 today but won’t happen. Most likely 1.269 and consolidation. tomorrow will be plenty of news so 1.266 is still valid target for me. Done for today. Will be looking for setups both ways in asian session.
"It ain't over till the fat lady sings"
POSTMASTER
  • #756,189
  • Jul 5, 2023 1:07pm Jul 5, 2023 1:07pm
Quoting BigNumbers
Don’t ever stick to your decision, be flexible and dynamic in reasoning. And use a strategy that involves using candle stick to read price. Take partials ASAP.
But not too flexible. Sometimes you are right on target at first, but become fluid due to impatience.
Don't compare your trades to others. Most often the masses are the asses
  • #756,190
  • Jul 5, 2023 1:17pm Jul 5, 2023 1:17pm
Quoting Wavegarrick
{quote} All weaker buy trades have been closed for a total of 66 pips. Trades towards 1.2700 are locked in at breakeven and some and price must do what it has to. Price should test my daily res1 at 1.27410. A break of 1.27500 should ignite bulls this time around. Cheers. {image} {image}
Price is time and time is price. Stop being afraid of what could go wrong and start being excited about what could go right to take you to the next level of your trading journey. I have been in this forum for many years. I cannot say that I am gonna get it right but i have endured and tried, unfortunately I have lost some trading buddies. It is what it is. It is time for me to move on and concentrate on my own family and fortunes, I will be around from time to time,
Cheers.
Trade to trade another day
  • #756,191
  • Jul 5, 2023 1:18pm Jul 5, 2023 1:18pm
Quoting BigNumbers
Finally H1 candle close below 1.26974. That’s enough to go short
We are still in a uptrend, probably lower then 1.2688 will show more lower values.
  • #756,192
  • Jul 5, 2023 1:21pm Jul 5, 2023 1:21pm
Quoting TheWraith
{quote} Dr., is M1 the most accurate Time Frame? Also, what is a retracement and why does retracements even exist? If of course, this thing we call retracement is a retracement or it's rather something else if you look at it from the point of time. Now, we know big players have big orders that pull the price in one way or the other, but why then when some big order is taking place do we witness retracements even if they are small? Shouldn't that big order be carried out until it's basically completed and only then perhaps we would witness retracement...

Bruh... what heazy? All you Dave..
Don't compare your trades to others. Most often the masses are the asses
  • #756,193
  • Jul 5, 2023 1:25pm Jul 5, 2023 1:25pm
Quoting Wavegarrick
{quote} Price is time and time is price. Stop being afraid of what could go wrong and start being excited about what could go right to take you to the next level of your trading journey. I have been in this forum for many years. I cannot say that I am gonna get it right but i have endured and tried, unfortunately I have lost some trading buddies. It is what it is. It is time for me to move on and concentrate on my own family and fortunes, I will be around from time to time, Cheers.
Leon! First I gonna thank you for your being around all the time and for all your experience that you shareing free here! Please keep up the good work you are doing and wish you many many pips in future! See you Men!
People don't plan to lose. They lose because they don't plan.
  • #756,194
  • Jul 5, 2023 1:31pm Jul 5, 2023 1:31pm
Quoting Eren10
{quote} We are still in a uptrend, probably lower then 1.2688 will show more lower values.
When price stayed too long in a place… often times it wants to change its direction. GU was suppose to trade up since Tuesday but it’s lingering. Its a sign that this support might fail to hold including the H4 FVG.
My telegram: https://t.me/avidforex
  • #756,195
  • Jul 5, 2023 1:44pm Jul 5, 2023 1:44pm
Quoting BigNumbers
{quote} When price stayed too long in a place… often times it wants to change its direction. GU was suppose to trade up since Tuesday but it’s lingering. Its a sign that this support might fail to hold including the H4 FVG.

Range is becoming smaller of the triangle, let's see which side breaks. Especially today pressure was to downside. Tomorrow is news, that will break some barriers probably.
  • #756,196
  • Jul 5, 2023 1:46pm Jul 5, 2023 1:46pm
Quoting ScalaFX
{quote} I adding last short Gold 1929.30, will be targeting with all 1890 and cutting when price get back to 1935-1940 I think, lets see
1929.5, 1926.5, 1923, 1918, 1915, my positions Gold now partial taken closing last 3 and rest protected, waiting for more, maybe tomarrow we reach 1890
People don't plan to lose. They lose because they don't plan.
  • #756,197
  • Jul 5, 2023 1:46pm Jul 5, 2023 1:46pm
As i said yesterday ...it is ranging and tight range and not worth the trade. Sometimes NO trade is the best trade.
  • #756,198
  • Jul 5, 2023 1:49pm Jul 5, 2023 1:49pm
Quoting dempire1
{quote} you seem to be the liquidity
lmao the only thing liquid so far today is your mouth and ego. A lot of bs coming from you. Stay out of my post
be a thinker before being a reacter
  • #756,199
  • Jul 5, 2023 1:58pm Jul 5, 2023 1:58pm
Quoting TheWraith
{quote} Dr., is M1 the most accurate Time Frame? Also, what is a retracement and why does retracements even exist? If of course, this thing we call retracement is a retracement or it's rather something else if you look at it from the point of time. Now, we know big players have big orders that pull the price in one way or the other, but why then when some big order is taking place do we witness retracements even if they are small? Shouldn't that big order be carried out until it's basically completed and only then perhaps we would witness retracement...
I appreciate your post as it gave me a view of liquidity gathering that I can add to my liquidity analysis. Good stuff
be a thinker before being a reacter
  • #756,200
  • Jul 5, 2023 2:12pm Jul 5, 2023 2:12pm
Quoting Eren10
{quote} Range is becoming smaller of the triangle, let's see which side breaks. Especially today pressure was to downside. Tomorrow is news, that will break some barriers probably.
Ultimately, this is a uptrend..so the onus is for the bears to break the trend!!!
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