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Cable Update (GBPUSD)

  • #762,261
  • Jul 29, 2023 2:26am Jul 29, 2023 2:26am
Quoting Scotteyy
{quote} Cant shout on your profile for some reason, so just wanted to say thanks for the call. Feels good to identify the zones earlier in the day and have them confirmed by your analysis. Have some shorts at this current liq zone and will be adding on the way down if it goes that way. As for my own analysis, I believe Monday will decide direction, if candle closes bullish we will go up for the rest of the week and vice versa. Weekly candle is a doji often cited as an "indecision" candle thus my belief that Monday will decide direction. I'm also...
Thanks Pal, hope the time on zoom helped a bit. Just keep practicing on all pairs at the end of everyday and it will come together quicker. Have a great weekend
  • #762,262
  • Jul 29, 2023 2:29am Jul 29, 2023 2:29am
Quoting T721
GU zoomed in a little bit for clearer analysis. May not go exactly as planned but it gives me something to work with. Will be looking for shorts above 900. Can only wait n see what Mon/Tue delivers {image}
If anyone does follow this chart just risk small. And look for valid sells, dont just short blindly. I dont get it right everytime
  • #762,263
  • Jul 29, 2023 2:48am Jul 29, 2023 2:48am
Hidden bullish divergence on daily chart and 55-60% of retail short. I would say UP until BoE on thursday and then DOWN. If I am right, I hope GU can re-visit the double top of 3050-3150 before the meeting.
Everyone can see the chart, but only a few can actually read it.
  • #762,264
  • Jul 29, 2023 2:49am Jul 29, 2023 2:49am
gbpusd is in area where i may be looking to buy next week have to see if we see some evidence ....pairs on watchlist are gbpjpy,gbpaud, chfjpy, and audchf!!!
  • #762,265
  • Jul 29, 2023 2:56am Jul 29, 2023 2:56am
Quoting Fx3423454
{quote} I understand your point but just to let you know from a veteran analyst, most of the analysis here is bullshit. Don't let anybody fool you. If you pay close attention, you will notice that a lot of the people in here posting charts are also lying out of their ass most of the time. Which means they are likely losing money or breaking even. When I first started trading, I was hunting down veteran traders in New York. I physically met them and learned from them. The people on this site are very unprofessional and they like to bullshit everybody....
people here trying post valuable analysis. You post only cristall ball predictions men and super poemic visions after taking to much drugs I think. You are a veteran? Go rest and have time with familiy when you got one, why you loosing time at FF
People don't plan to lose. They lose because they don't plan.
  • #762,266
  • Jul 29, 2023 2:57am Jul 29, 2023 2:57am
Quoting TheWraith
What can Daily Chart on GBP/USD tell us? It's pretty clear that Higher High at 1.2785 was tested on Thursday and price bounced off of that High. However, this doesn't mean that price is going up, we still have to see confirmation candle that Buy will continue. Main Support lies at 1.2785 and if it doesn't hold, uptrend on Daily Chart is officially over and price will visit another Higher High that was made before it at 1.2630.
either direction, a huge profit is on the way! long could go previous high as close to 1.32 and short as 1.24! my gut tells me that a massive move is coming... if the price breaks the previous low (the most recent low; 1.27500) then it might fall to 1.24.
  • #762,267
  • Edited 3:30am Jul 29, 2023 3:03am | Edited 3:30am
This is probably worth posting for anyone not sure of how i trade in regards to pips and return on a trade----

OK --- THE ONLY THING YOU CAN CONTROL IN ANY MARKET IS YOUR LOSSES, THATS IT. HOW MUCH YOU ARE GONNA MAKE IS UNNOWN (if you trade like me)

Let me explain--- to make this easy lets assume we all trade at $1. So if your stop is 30 or 50pips away the math is simple

Now lets say my target is 200pips, anyone will be thinking im gonna make $200. Well that is wrong. If i am confident in getting those 200pips i need to build positions. The last thing i want is a 200pip move making me only 200bucks. I need 4, 5, 600 or more pips out of that move and i do it by adding to the initial trade

Thats what i mean by saying i have no idea what i will make.

Lets take the ftse (UK100) im in right now. I have 11 positions short so far, if that trade goes my way, and im sure it will i need to add more on the way down so the 300handles i am looking for will turn into a monster of a trade for me. All these positions i have on, every single one of them were upsidedown yesterday then breakeven then slight profit then back to upsidedown . So you need to decide what kind of trader you want to be and always manage your RISK firstly. Risk is all that matters to keep you solvent and have enough Chips left to lose 3, 4, 5, 6 consecutive trades

SORRY FOR THE RANT AND WISH YOU ALL GREEN PIPS
  • #762,268
  • Jul 29, 2023 3:18am Jul 29, 2023 3:18am
Quoting Lbrto
{quote} Another round of thank you for this. Spent some time watching some of his videos last night and found that his three-box strategy fits into my method. I think I can refine my system more with his approach. Also, I think I need to read Wyckoff's book to understand market psychology more. Again, thanks!
Everything you need about wyckoff

Inserted Video

Enjoy your weekends watching and understanding it.
More time in the market, does not mean you trade better!
  • #762,269
  • Jul 29, 2023 3:36am Jul 29, 2023 3:36am
Quoting T721
This is probably worth posting for anyone not sure of how i trade in regards to pips and return on a trade---- OK --- THE ONLY THING YOU CAN CONTROL IN ANY MARKET IS YOUR LOSSES, THATS IT. HOW MUCH YOU ARE GONNA MAKE IS UNNOWN (if you trade like me) Let me explain--- to make this easy lets assume we all trade at $1. So if your stop is 30 or 50pips away the math is simple Now lets say my target is 200pips, anyone will be thinking im gonna make $200. Well that is wrong. If i am confident in getting those 200pips i need to build positions. The last...
yeah Ive been trading for a very long time and none of that is real risk. It's a great way to get yourself into trouble. If you trade pound and you are wanting a need filled, then you'll get it basically every time. But not tracking it and desiring a want before needs are met is unnecessary risk. Common sense says - worst then worse case scenario then better scenario. Considering losses are not all one controls. Sorry but this is puppy love thinking. Maybe if you used a tiered approach you'd "win" on your obvious winners and gain a push on your apparent losers. This is how a real veteran does it because we don't accept losers as the final "say" of the day or week. Hope that helps. Peter
Real Trading is not gambling.
  • #762,270
  • Jul 29, 2023 3:45am Jul 29, 2023 3:45am
Quoting Fardeen1209
{quote} Everything you need about wyckoff https://youtu.be/8sbfrusR5Eo Enjoy your weekends watching and understanding it.
thanks!
"No trade is still a trade." - Peter Borish
  • #762,271
  • Jul 29, 2023 3:53am Jul 29, 2023 3:53am
Quoting OnlineAddict
Hidden bullish divergence on daily chart and 55-60% of retail short. I would say UP until BoE on thursday and then DOWN. If I am right, I hope GU can re-visit the double top of 3050-3150 before the meeting.
in terms of time before BoE and NFP 3050 looks quite interesting
Insane in the Brain..
  • #762,272
  • Jul 29, 2023 3:54am Jul 29, 2023 3:54am
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It's in your thinking not on the chart, like anything in Life.

Your job is to learn about and to understand the real risks not pretend you already know them.

I love grabbing 20-50 a day and really noting what happened.

Peter
Real Trading is not gambling.
  • #762,273
  • Jul 29, 2023 4:18am Jul 29, 2023 4:18am
Looks bearish off Thursdays big reaction to resistance, while most of FF Trade explorers are still long.
1.2495 area looks like a logical confluence spot if it continues to break down.
But I'm building longs only, as can't hedge
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Compulsions can be hard to resist
  • #762,274
  • Jul 29, 2023 4:39am Jul 29, 2023 4:39am
Quoting JereMi256
The market has a thousand ways to move, this is just one way I could think of next week's projection. H1 chart; {image} H4 Chart;{image} Enjoy your weekend, +256
2nd scenario
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Face 'ur fears & tame 'ur greed
  • #762,275
  • Edited 5:43am Jul 29, 2023 5:32am | Edited 5:43am
aud/usd.
I see an imbalance on this pair, a corrective northward movement can be expected. This may take some time to complete. just in case, I have already placed my grid sytem on this pair.
this is just my own situation, don't follow because it might be wrong.
  • #762,276
  • Jul 29, 2023 6:10am Jul 29, 2023 6:10am
Quoting Fx3423454
{quote} I understand your point but just to let you know from a veteran analyst, most of the analysis here is bullshit. Don't let anybody fool you. If you pay close attention, you will notice that a lot of the people in here posting charts are also lying out of their ass most of the time. Which means they are likely losing money or breaking even. When I first started trading, I was hunting down veteran traders in New York. I physically met them and learned from them. The people on this site are very unprofessional and they like to bullshit everybody....
Look, everyone is here for different reasons. Some people are just bored, and only because of the post. In relation to learning, it is always the individual's task to choose what is useful for him/herself.
  • #762,277
  • Jul 29, 2023 6:13am Jul 29, 2023 6:13am
I am currently short cable with a HTF stop loss. Notice how AFTER reacting with a key HTF level we form a bearish Order block. Full close below. Notice how we opened this daily candle, ran up into the wick-body of the previous up-close candle (the sensitive point of the OB) and then we start making lower prices. Studying this will change the game for you, but you cannot take any of this with just a down close candle. It has to react with a HTF level first. Happened on Gold, Euro and Dollar Index. Best on DXY. Study this. Trust me.
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  • #762,278
  • Edited 6:47am Jul 29, 2023 6:20am | Edited 6:47am
Have you plotted the weekly TF? There's also a similar pattern, but for a run up.
"No trade is still a trade." - Peter Borish
  • #762,279
  • Jul 29, 2023 6:46am Jul 29, 2023 6:46am
Forexfactory is ground for hunting excepcional traders and trick and trap newbies into the habbit of trading. Here is where i interact with the corporation that dominates the industry. Subliminally.
POSTMASTER
  • #762,280
  • Jul 29, 2023 6:47am Jul 29, 2023 6:47am
Quoting Robinhood1
Forexfactory is ground for hunting excepcional traders and trick and trap newbies into the habbit of trading. Here is where i interact with the corporation that dominates the industry. Subliminally.
I can tell real traders from corporative employees
POSTMASTER
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