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Cable Update (GBPUSD)

  • #757,901
  • Jul 12, 2023 11:18am Jul 12, 2023 11:18am
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  • #757,902
  • Jul 12, 2023 11:18am Jul 12, 2023 11:18am
Range bound at the top , like always
If i was long ,price would revarsed drop sharply
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yes yes yes
  • #757,903
  • Jul 12, 2023 11:20am Jul 12, 2023 11:20am
Quoting hayseed
{quote} //---- the difficulty in fvg's is there is not clear agreed on definition..... so you must come to your on definition...... can't recall the name of the site which pushes the concept so hard, but even they contradict their own definition..... and you bring up another difficult aspect...... how far back is considered valid.....h //---- {image} //----- {image}

FVGs can be defined by looking at sets of bars ,each group of bars consisting of HHs/HLs or LHs AND LLs can be considered and area of FVG, price will revisit that area at some point as the market has to stay balanced , the trick is to watch for the reaction at these areas by using a lower timeframe to the FVG.

Look at the examples i posted
Follow The Markets Structure - Patience and Discipline
  • #757,904
  • Jul 12, 2023 11:25am Jul 12, 2023 11:25am
Quoting Moty
Range bound at the top , like always If i was long ,price would revarsed drop sharply {image}

so if you see short setup buy it.
dont be ashamed to lose it.. not a lot here showing it but they actually do
  • #757,905
  • Jul 12, 2023 11:26am Jul 12, 2023 11:26am
just had to share my idea again guys. all i do is swing, swing, swing.
nxt tp:1.33000

NB: Trading is reactive and not predictive.
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  • #757,906
  • Jul 12, 2023 11:26am Jul 12, 2023 11:26am
Quoting Wavegarrick
{quote} Thanks Hans, You are raising a very good question and time to put the thinking caps on. 1.30000 is a very important quarterly level and we have reached this in the first two weeks of the 3rd quarter. I am getting to a point where I could look for a retrace of at least 250 pips so could look to enter shorts based on my system for target of 1.2750. The quarter has time, 2 months and 2 weeks or so and we could very well see a correction down wards. Having said trendy conditions are not easy to break so I will look for daily lower lows and weekly...
Hello Leon, I totally agree with you about 1.2750 after making 342 pips of expected 550 pips for this quarter already done in the first two weeks of the first month in the third quarter. There is more than enough time and hence price can easily slide downwards to 1.2750 from here but may not happen in a straight line... I checked GBPJPY and GBPAUD already surrendering some gains after serious overbought conditions.

But hey, it's the forex market where market players can still do the unthinkable...
Data + Stat + Risk/Emotions Management
  • #757,907
  • Jul 12, 2023 11:33am Jul 12, 2023 11:33am
Quoting Georginson
{quote} conditions. But hey, it's the forex market where market players can still do the unthinkable...
That's the problem, my friend, that's the problem but stats give advantage but you never can be 100% sure. That's what it makes so difficult to put in a lot of money. That annoys me
  • #757,908
  • Jul 12, 2023 11:43am Jul 12, 2023 11:43am
Hi GBP mates, hope you are doing greeeeat !!

Perhaps adding to my losing shorts and untriggered sell stops!

Sell stops 2980 2965 2950 2915 !



They are among us
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If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #757,909
  • Jul 12, 2023 11:45am Jul 12, 2023 11:45am
Quoting Pat Chiko
{quote} GU Gimme some hammer please.{image}{image}
pat where is SL. Gbpusd

Thanks
  • #757,910
  • Jul 12, 2023 11:45am Jul 12, 2023 11:45am
Quoting Whale
{quote} as a fractal trader im not sure i read it right according to the screenshot. LLHL on weekly/daily for 1.275? or the screenshort 1.24
Hi Whale,
Good observation. 1.2750 is based on the quarters theory. If 1.2750 holds we could see a move to 1.3250 and 1.33 and so forth.
If we break below that and reach 1.2500 we could well be in for a retrace to 1.2750 and could look for a lower 4th quarterly close towards year end. It is all speculative at the moment and we have to see how price plays out over time and trade accordingly.
Cheers.
Trade to trade another day
  • #757,911
  • Jul 12, 2023 11:48am Jul 12, 2023 11:48am
Projection.. need NY close below
1.296.
4h to go
maybe im a daydreamer
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  • #757,912
  • Jul 12, 2023 12:00pm Jul 12, 2023 12:00pm
Quoting Whale
Projection.. need NY close below 1.296. 4h to go maybe im a daydreamer {image}
1.30 is a big institutional level so after a big price spike not a bad place to try a short
  • #757,913
  • Jul 12, 2023 12:04pm Jul 12, 2023 12:04pm
Quoting ninner
up over 600 pips on usdjpy short LOL
I'm up over 1200 pips usdjpy short LOL
  • #757,914
  • Jul 12, 2023 12:06pm Jul 12, 2023 12:06pm
short in..

eu 1.1131 sl 50p
gu 1.2995 sl 50p
gold 1959.. sl 1969
leave it till tomorrow..
wish me luck
  • #757,915
  • Jul 12, 2023 12:12pm Jul 12, 2023 12:12pm
Quoting hayseed
{quote} //---- the difficulty in fvg's is there is not clear agreed on definition..... so you must come to your on definition...... can't recall the name of the site which pushes the concept so hard, but even they contradict their own definition..... and you bring up another difficult aspect...... how far back is considered valid.....h //---- {image} //----- {image}

Go to the 15 Minute chart on GU and look at the price bars from the high round 1.3000, follow the bars left to right and you will see how the price kept balancing itself ,

So price has to be in balance during a trend , range and correction
Follow The Markets Structure - Patience and Discipline
  • #757,916
  • Jul 12, 2023 12:13pm Jul 12, 2023 12:13pm
Quoting navk
wait until 1 am est for 4 hr candle to open. I have some short trades taken based on 3000 level under
Yes, for almost 2 hrs consolitation happened.

4 hr opened.

Sell confirmed for me as well as tomorrow.
Intraday only.
  • #757,917
  • Jul 12, 2023 12:14pm Jul 12, 2023 12:14pm
Quoting navk
{quote} Yes, for almost 2 hrs consolitation happened. 4 hr opened. Sell confirmed for me as well as tomorrow.
expect big movement at asia..
  • #757,918
  • Jul 12, 2023 12:17pm Jul 12, 2023 12:17pm
Its not over yet buddies
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MY OPINION NOT FINANCIAL ADVISE
  • #757,919
  • Jul 12, 2023 12:19pm Jul 12, 2023 12:19pm
Quoting dempire1
{quote} a week back, maybe a month tops. 2000s year gaps and S/R zones are just mass psychology reaction. Just my thoughts tho.
//----

here is a expert advisor that follows pipfarms thinkin about multiple fvg's ...... the chart is from 6/27/23 and was first published then..... obviously it will make no sense to anyone but me..... small part of it applies to fvg's......

i have placed a white rectangle around a portion in the second chart...... that particular section tracks valid fvg's over the past 10 bars on multiple timeframes on the jpy pairs...... small red squares represent a sell fvg, lime represent buy fvg...... the ratio lime/red is 24 / 2..... that's heavy on sell side...... too heavy......

on or about the 28th, most jpy pairs began falling...... all 24 fvg's have now been resolved.....

again, this follows pipfarms thoughts on multiple fvg's being taken out in a single move...... this time across the entire jpy currency....

the same principle can be applied to the gbp pairs...... it might give more faith in trading the gbpusd.....h
//-----

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//-----

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to trade and code, keep both simple... no call to impress....h
  • #757,920
  • Jul 12, 2023 12:21pm Jul 12, 2023 12:21pm
Quoting donfriday
Its not over yet buddies {image}
1.27.. time machine ?
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