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Cable Update (GBPUSD)

  • #763,701
  • Edited 8:18am Aug 3, 2023 7:58am | Edited 8:18am
Quoting PeterCaleb
{quote} Truthfully it doesn't worry me either way. Learn or don't learn.
Still learning everyday Boss
  • #763,702
  • Aug 3, 2023 8:01am Aug 3, 2023 8:01am
Honestly technicals are out the window. Just praying at this moment for it to go up
  • #763,703
  • Aug 3, 2023 8:04am Aug 3, 2023 8:04am
Quoting Coreg2004
{quote} Fardeen, you da man. Always know which swing you trade, and combine it with HTF (daily). {image} {image}
Thanks sir. My EW is the same as you sir.
EW is really a game changer.
More time in the market, does not mean you trade better!
  • #763,704
  • Aug 3, 2023 8:07am Aug 3, 2023 8:07am
Quoting JoshLauder98
Honestly technicals are out the window. Just praying at this moment for it to go up
It is possible to turn from here. It hit Liquidity zone that caused the bounce so far. Just have to wait to see if it holds. But the SHORT SIDE DROP was nice
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  • #763,705
  • Aug 3, 2023 8:14am Aug 3, 2023 8:14am
DXY safely bounced of 102.50 after the news event. Unlikely that GBPUSD will cross 1.2700 then 1.2742 today.
Though I still remain long overall, I continue to scalp short positions is small lots.

Trade cautiously until NFP tomorrow.
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  • #763,706
  • Aug 3, 2023 8:20am Aug 3, 2023 8:20am
Seems like hawkish BoE and higher jobless claims not effective enough to move above. Maybe NFP tomorrow could help trigger a move above 127.
Insane in the Brain..
  • #763,707
  • Edited 9:04am Aug 3, 2023 8:22am | Edited 9:04am
RSI low rider... 2hr...HQ 0.25% selic zinsen what ever interest rate...gigo ...RSiViP UK...return to sender issues... hellarious...ruXpert ce nirp...contain retain enthusiasm ER... thunder day...screw fog of war HELLA... fUK libel lelele BE VER GE DRAGhihihi on the seebuyfly... SAFE haven FUN MOKUM XXX FM...ZIPit WTF $...
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  • #763,708
  • Aug 3, 2023 8:25am Aug 3, 2023 8:25am
Quoting T721
{quote} It is possible to turn from here. It hit Liquidity zone that caused the bounce so far. Just have to wait to see if it holds. But the SHORT SIDE DROP was nice {image}
could ISM push this back up? I have TP’s at 1.26944
  • #763,709
  • Aug 3, 2023 8:27am Aug 3, 2023 8:27am
Quoting Fardeen1209
{quote} Thanks sir. My EW is the same as you sir. EW is really a game changer.
Fardeen1209, if you believe that EW represents Nature's Law ( collective behavior of all participants in the market), yes it is. As long as you set your zones according to the guidelines https://www.tradingfives.com/article...wave-guide.htm
don't worry too much about labeling. It's for you to know how to react when the price gets there. Good luck.
Always trade your own plan...I don't provide trading signals.
  • #763,710
  • Aug 3, 2023 8:31am Aug 3, 2023 8:31am
Quoting JoshLauder98
{quote} could ISM push this back up? I have TP’s at 1.26944
Of course. ISM Services PMI is the 4th most impactful news for USD.
However, if you get caught on the other side, it won't be nice..
  • #763,711
  • Aug 3, 2023 8:39am Aug 3, 2023 8:39am
Quoting Coreg2004
{quote} Fardeen1209, if you believe that EW represents Nature's Law ( collective behavior of all participants in the market), yes it is. As long as you set your zones according to the guidelines https://www.tradingfives.com/article...wave-guide.htm don't worry too much about labeling. It's for you to know how to react when the price gets there. Good luck.

Here is a neatly printable version of the guide.
Attached File(s)
File Type: pdf Elliott Wave Theory Guidelines.pdf   147 KB | 231 downloads
  • #763,712
  • Edited 8:52am Aug 3, 2023 8:40am | Edited 8:52am
Quoting JoshLauder98
{quote} could ISM push this back up? I have TP’s at 1.26944
It could, But the only thing you are in control of is your risk. Nothing really matters after that you either lose what you are willing to risk or it goes to your target --

So b4 you enter any trade ask yourself this ---- How much am i willing to lose, and if that risk is too much for you then you need a smaller position.
Only risk 0.5% to 1% max on any trade untill you gain the experience required to last in this game.. Trust me it takes time to learn and a helluva lot of patience.

If i where you i would practice with tiny positions ie 0.01 ---- Ah, i hear you think --- but im not gonna make much money that way. You are right but look at the knowledge you will gain.
So lets imagine you make 80 or 100pips to day you do not think about the monetary gain coz it aint gonna buy you a Starbucks. What you do is keep a track of it. ie i made x pips on this trade. This is the way to become better and in a few years those 0.01s might be 5.00 or more

Hope you understand what i am trying to say --- Sometimes am SHIT at explaining things.. You can zoom with me if you want just send me DM



PS----- never think how much you can make on a trade. I never know how much i will make on a drop. My target might be 200pips but i keep adding positions on candles im looking for .. So yes if i am £10 short and it goes 200pips then i will make 2k on the first position and if i am confident in my analysis i have to add and make the most of it because i know i will give some of those gains back on some of the next trades


PPS---- There are thousands of ways to skin a cat. Yoou just need to find 1 way and stick to it when it works then just rinse repeat
  • #763,713
  • Aug 3, 2023 8:43am Aug 3, 2023 8:43am
Quoting TheWraith
{quote} Of course. ISM Services PMI is the 4th most impactful news for USD. However, if you get caught on the other side, it won't be nice..
WELL SAID
  • #763,714
  • Aug 3, 2023 8:43am Aug 3, 2023 8:43am
Quoting TheWraith
{quote} Of course. ISM Services PMI is the 4th most impactful news for USD. However, if you get caught on the other side, it won't be nice..

with the rejections off any upswing I get the feeling ISM is already in play. Let’s see
Insane in the Brain..
  • #763,715
  • Aug 3, 2023 8:44am Aug 3, 2023 8:44am
Quoting BeeTogether
Seems like hawkish BoE and higher jobless claims not effective enough to move above. Maybe NFP tomorrow could help trigger a move above 127.
Recall @Fardeen1209's job details where he noted job losses of over 30k offset by season job gains of over 300k. Now look again at unemployment levels that remain flat. There is a gap in the credibility of the data, as usual.

I expect the similar gaps in NFP tomorrow and in any event, who knows how price will react!
  • #763,716
  • Aug 3, 2023 8:46am Aug 3, 2023 8:46am
Quoting BeeTogether
{quote} with the rejections off any upswing I get the feeling ISM is already in play. Let’s see
Well, let's see what they have been cooking this entire day...
  • #763,717
  • Aug 3, 2023 8:48am Aug 3, 2023 8:48am
Quoting PeterCaleb
{quote} I'll do better than that for you ....... "Look both ways before you cross the road in the middle." Age old principle. 11 words. Even someone like you can learn to apply this BASIC life lesson. All this trading stuff is no mystery. All you people believe like suckers, that you "have to" use stats and probs to worm your way into a situation. But you DO NOT control the market you access nor what happens in terms of past present future .... so you wrack you brains trying to be "clever" to find ways to do it all. "There MUST be a way to do this!!"...
It's funny this post is probably around 70-80% more valuable than 99% of the shit posted in this thread.
Trade at your own risk.
  • #763,718
  • Aug 3, 2023 8:48am Aug 3, 2023 8:48am
There is a bullish divergence on the EUR/USD 4H chart.
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  • #763,719
  • Aug 3, 2023 8:49am Aug 3, 2023 8:49am
Will be back in the market 06-08-23 for another GU swing. Price action not looking great at the moment
  • #763,720
  • Aug 3, 2023 8:51am Aug 3, 2023 8:51am
Quoting Bogdanoff
My favourite pair EJ today {image} Trade Safe Cheers {image}
closed 30 pips
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total 184 pips

cheers
my loss is your gain
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