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Cable Update (GBPUSD)

  • #757,041
  • Jul 10, 2023 2:55am Jul 10, 2023 2:55am
Would like to see move down to 1.2760-1.2780 region for long.
  • #757,042
  • Jul 10, 2023 2:56am Jul 10, 2023 2:56am
market maker strategy!!

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  • #757,043
  • Jul 10, 2023 2:59am Jul 10, 2023 2:59am
Quoting Konichiwhaat
Long
SL to BE before hour close
Emotional Control. Process, not outcome.
  • #757,044
  • Jul 10, 2023 2:59am Jul 10, 2023 2:59am
Looks like a long to me

H1 has made a correction abc

and H15 shows a impulse b(abc) c impulse so should be heading up for a new H1 high
Follow The Markets Structure - Patience and Discipline
  • #757,045
  • Jul 10, 2023 3:02am Jul 10, 2023 3:02am
Quoting dazw6000
Short EJ TP 155.761
EJ

Hello,
I have a question about your short trade for 15 pips.
The one-hour candle spiked up 24.8 pips, then went down to your target.
It seems to me that the risk is higher than the reward. Am I wrong?

From what I can see, the structure is making bullish pressure with the formation of a higher-low price action.
The move down is only to get some liquidity to fuel the move up.

Can you help me ( struggling newbie) to understnad, why you went for a high-risk short for such small pips?
Is there a reason you believe the stop-loss will not be spiked?

Thanks in advance for your answer.
I'm newbie, trying to learn.

PAT
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #757,046
  • Jul 10, 2023 3:02am Jul 10, 2023 3:02am
Quoting Moty
i feel something fishy switched to short if price will go up to 1.28366 i will add to my position {image} {image}
You are a twitchy man, Moty. More volatile that the market itself
  • #757,047
  • Jul 10, 2023 3:07am Jul 10, 2023 3:07am
Quoting Pat Chiko
{quote} EJ Hello, I have a question about your short trade for 15 pips. The one-hour candle spiked up 24.8 pips, then went down to your target. It seems to me that the risk is higher than the reward. Am I wrong? From what I can see, the structure is making bullish pressure with the formation of a higher-low price action. The move down is only to get some liquidity to fuel the move up. Can you help me ( struggling newbie) to understnad, why you went for a high-risk short for such small pips? Is there a reason you believe the stop-loss will not be...
I have H4 Zone broken on Yen pairs and Daily about to confirm Short. Will share the charts when I get Home. Thanks for the insight Pat! I guess we were all waiting for this retracement on Yen pairs to happen and it finally is coming it seems. Also, the whole Buy Asian Session gave was corrected by EU and GB Session. Last word to have will be US Session.

Signal could be wrong of course, we'll see. Let's hear what dazw6000 has to say.

TW
  • #757,048
  • Jul 10, 2023 3:08am Jul 10, 2023 3:08am
...is this repeating pattern gonna see a with 4hr (+) uptrend follow-thru to a new trend hi? Ie bullish hidden div @ that prev sw hi zone referred top earlier, that is present on 1hr/4hr/dly, = prev res = pot rbs. Wide zone though on 4hr/dly.

1hr below
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Trader with an Edge.
  • #757,049
  • Jul 10, 2023 3:12am Jul 10, 2023 3:12am
Quoting Moty
i feel something fishy switched to short if price will go up to 1.28366 i will add to my position {image} {image}
Hey Moty,
Mondays are always fishy, as you know.
I think it's best to take it easy on trading today, as the market has yet to establish its real motives for this week's moves.

With a couple of high-impact news events coming up, (posted the calender earlier), the market makers might want to take us for a joy ride on Monday and try to manipulate the market towards the news events.

But that doesn't mean we can't have some fun!
Let's watch the market closely and see how it plays out.
There's no one single strategy that can determine if we're right or wrong in taking any trades, so let's just stay loose and enjoy the ride.

Stay green and stay beautiful!
Cheers,
PAT Chiko
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #757,050
  • Jul 10, 2023 3:15am Jul 10, 2023 3:15am
No strength from bulls, trying their hardest to defend daily pivot but thats not the important level imo. Weekly pivot (1.2780) should be touched first before move up. A lot of confluence in that area, previous high, daily S1 at 1.2760.
  • #757,051
  • Jul 10, 2023 3:18am Jul 10, 2023 3:18am
Quoting pipfarm
Looks like a long to me H1 has made a correction abc and H15 shows a impulse b(abc) c impulse so should be heading up for a new H1 high

2826 Support now resistance and sends GU into an uptrend on H1
Follow The Markets Structure - Patience and Discipline
  • #757,052
  • Jul 10, 2023 3:21am Jul 10, 2023 3:21am
Quoting TheWraith
{quote} I have H4 Zone broken on Yen pairs and Daily about to confirm Short. Will share the charts when I get Home. Thanks for the insight Pat! I guess we were all waiting for this retracement on Yen pairs to happen and it finally is coming it seems. Also, the whole Buy Asian Session gave was corrected by EU and GB Session. Last word to have will be US Session. Signal could be wrong of course, we'll see. Let's hear what dazw6000 has to say. TW
Thanks for your insights, bro.
Your perspective on price action is a great way to analyze Yen crosses.
I've noticed that the US session seems to be the primary mover for Yen crosses lately. Perhaps this is a concerted effort by US hedge fund managers to corner the yen market.

By the way, don't worry about getting the analysis wrong or giving the wrong opinion.
I get it wrong plenty of times myself! (I'm noob myself)
True traders live with their mistakes and learn from them.
Only fake traders refuse to accept losses and share their mistakes.

Take care, and I look forward to some informative exchanges with you.
PAT


Personal question: Doesn't your girlfriend worry about you coming home so late at night?
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #757,053
  • Jul 10, 2023 3:28am Jul 10, 2023 3:28am
Quoting Konichiwhaat
{quote} SL to BE before hour close
Close to TP. SL tightened
Emotional Control. Process, not outcome.
  • #757,054
  • Jul 10, 2023 3:29am Jul 10, 2023 3:29am
come on 1.27700
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yes yes yes
  • #757,055
  • Jul 10, 2023 3:31am Jul 10, 2023 3:31am
Quoting Pat Chiko
{quote} EJ Hello, I have a question about your short trade for 15 pips. The one-hour candle spiked up 24.8 pips, then went down to your target. It seems to me that the risk is higher than the reward. Am I wrong? From what I can see, the structure is making bullish pressure with the formation of a higher-low price action. The move down is only to get some liquidity to fuel the move up. Can you help me ( struggling newbie) to understnad, why you went for a high-risk short for such small pips? Is there a reason you believe the stop-loss will not be...
Hi PAT, i too am only a learner. I've seen you take thousands out the market, beginner really?

Closed Both positions @ 155.856
Position 1 @ 156.538 SL 156.675 TP 68.2 pips
Position 2 @ 156.208 SL 156.235 TP 35.2 pips
so 103.4 pips total

Looks to me like this pair is rolling over, several BOS on the 4H, a close below 155.053 on the daily would signal a correction down on the weekly before a move up again so bias would be bearish, the daily FVG that starts at 153.090 interests me as a possible zone price could get to.

No reason to why it could not have gotten spiked, price took out liquidity about 10 pips above the Asian session (it can go 10-20 pips as ICT teaches) I entered near a small 15 minute FVG, price had conviction to go down in my eyes.
Watching & Learning
  • #757,056
  • Jul 10, 2023 3:33am Jul 10, 2023 3:33am
Anyone has read
The laws of trading: A Trader's Guide to better decision making For Everyone by Agustin Lebron. Wiley

Want a review on it before start reading it
More time in the market, does not mean you trade better!
  • #757,057
  • Jul 10, 2023 3:34am Jul 10, 2023 3:34am
Quoting Konichiwhaat
{quote} Close to TP. SL tightened
The 1 min pin bar below 2820 was a giveaway. SL hit but still squeezed 4 pips.

Short
Emotional Control. Process, not outcome.
  • #757,058
  • Jul 10, 2023 3:35am Jul 10, 2023 3:35am
Quoting Konichiwhaat
{quote} The 1 min pin bar below 2820 was a giveaway. SL hit but still squeezed 4 pips. Short
... and out Done
Emotional Control. Process, not outcome.
  • #757,059
  • Jul 10, 2023 3:36am Jul 10, 2023 3:36am
Enterd Gj Long at 182.315. As Theo von says when his friend got bit by a gay guy... We'll see.
  • #757,060
  • Jul 10, 2023 3:36am Jul 10, 2023 3:36am
when London not doing much I get out.

Bearish still though.

Will come back at 9 am est
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