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Cable Update (GBPUSD)

  • #763,881
  • Aug 3, 2023 4:07pm Aug 3, 2023 4:07pm
Green pips to you all for tomorrow Guys.... DUCKs OUTTA here. Goodnight
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  • #763,882
  • Aug 3, 2023 4:10pm Aug 3, 2023 4:10pm
Quoting T721
{quote} Canada is a big supplier of oil to the US thats the correlation
Canada could be a big supplier of oil and gas to the US if the numnuts leaders of the two countries could expand the pipeline capacity between the two countries but right now this just isn't the case.
  • #763,883
  • Edited 4:49pm Aug 3, 2023 4:21pm | Edited 4:49pm
Quoting Robinhood1
{quote} Hi Dr. Its always nice to debate with you. You Know i have always been interested in calculations applied to markets like gann or tesla methods even though we do not really know how they would apply their theories. I know by conviction that markets can be solved mathematically. I have discovered a reversal pattern that i understand is an interface to mathematical calculations. I wish and suppose that it could be worked out through numbers but my incapability to solve time has brought me to just spot it visually.
Question for both you and Dave! Why do retracements occur? If there is one big order that just enters the market, why do we see retracement taking place? Is this big order cut into multiple orders or what? Or there are no orders at all in FX rather some background intelligence collecting SL while also retracing price to some random Fibo level with different kind of speed for every other time?

Because I noticed on my charts that price very ,very often reacts to one of the MA's I have and usually bounces off of them.

System is what I like to call Fluid Fibonacci.
It's quite amazing how often price hits the MA's on the exact pip and bounces off.

This has to be some kind of algorithm or whatever it's called. It's just too perfect not to be.

This thing has to have some signature we're not aware of yet.

Perhaps it's only chasing for our SL's and reacting and there are no meaningful patterns it leaves behind.

Maybe we're all just seeing what isn't there.

Problem is if people see a pattern working once, they will continue to believe patterns do exist. But do they really?

Now, I have only 4 MA's on the chart. But I would bet if I added more of them, price would hit one of them on the exact pip and bounce off to another MA and hit that other MA at the exact pip and bounce off.

One more thing! If this was some random buying and selling taking place in FX, there should be no way our systems could predict where is likely to go right? But they do! Our system can actually predict was this thing is doing, but how? What does our systems know that we don't?

It has to be some kind of patterns it's picking up to determine where price will go, but what are those patterns? Is it even patterns? Perhaps it's something else...

Would love to hear everyone's opinion on this!
  • #763,884
  • Aug 3, 2023 4:54pm Aug 3, 2023 4:54pm
Strong resistance at 1.27113. I think we are shorting
My telegram: https://t.me/avidforex
  • #763,885
  • Aug 3, 2023 5:12pm Aug 3, 2023 5:12pm
Quoting TheWraith
{quote} Question for both you and Dave! Why do retracements occur? If there is one big order that just enters the market, why do we see retracement taking place? Is this big order cut into multiple orders or what? Or there are no orders at all in FX rather some background intelligence collecting SL while also retracing price to some random Fibo level with different kind of speed for every other time? Because I noticed on my charts that price very ,very often reacts to one of the MA's I have and usually bounces off of them. System is what I like...
At one time I used an MA bounce strategy, more specifically a 50 MA bounce strategy. I also used the 200 MA to determine trend and price would often bounce off this MA too. But then when I started studying market structure I found it to be a more reliable method.

I'm not an expert on the subject of algo's nor have I ever seen a successful one in action but I would imagine the successful ones wouldn't just be a single strategy. They may include buying when price touches an MA, or an MA crossover or when price touches a pivot point etc etc etc. Then results would be recorded and analysed, more strategies added, losing strategies removed etc. I may be way off the mark here, but if I was to develop an algo this would be the way I would do it. Make hundreds of strategies, run them, remove bad ones, add more.

Our problem as "manual" traders is that we can't do that. Thinking of hundred's of strategies we can do, but implementing them simultaneously on many pairs, indices and commodities wouldn't be effective. Hence why I believe in refining one system and making it as simple as possible. The simpler the better.

I'm pretty sure I've said this before but the reason why I believe that it is possible or even probable that anyone can be profitable in trading is that a truly random strategy would break-even. That's better odd's than blackjack when playing with perfect strategy, yet people still manage to beat that game (card counting). So our system that we use just has to be a little bit better than random, that doesn't seem too difficult to me especially if you are trading with the trend.

Honestly I wish I could code, there's some stupidly simple strategies I'd love to try test. Such as, if daily candle close > open, place buy order, trail stop after close of the day to the low of each day. If daily candle close < open. Exit all long trades and enter short. Could potentially put some system stop in there if you could predict how long ranging markets last (the downfall of this strategy), potentially after two losing trades shut down system for 1 week. Then hopefully by then the market has come out of the range.
  • #763,886
  • Aug 3, 2023 5:20pm Aug 3, 2023 5:20pm
Today, I am a bit biased against the prevailing trend of the past 3 days. I am looking for some sort of lower level test, either a bounce of the 50 EMA or even a move as deep as a test of Wednesday's low of the week. Would be a beautiful head and shoulder pattern and end the day somewhere near the 1.2800 area, expecting an 80-100 pip swing high.

The way the EMA's are fanned out indicates larger and shorter timeframes are all warranting sell signals. I'm very cautious of shorting back to the peak formation low of this week.
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Discouragement is the language of the devil. Results over hype.
  • #763,887
  • Aug 3, 2023 5:32pm Aug 3, 2023 5:32pm
Quoting BeeTogether
{quote} yeah Sunak loves the blame game
House prices begun to drop, as many will not afford £500/month mortgage rate increase. Bubble will burst soon.
  • #763,888
  • Aug 3, 2023 5:41pm Aug 3, 2023 5:41pm
Quoting T721
Cgpips How you doing. did you understand how i trade. zoom when you like It will take some time to grasp it just keep going over what i showed you in regards to Liquidity
Hi T721,
Really thank you for teaching me your strategy that day I then observed D1 chart, tried to figure out how it works according to your candle body theory.
still not completely understand.
Liquidity concept is great for me, I draw lines for the liquidity area, and this helps A LOT!! Now I know liquidity zone is so important for trading! It seems can find some rules of PA tricks from it. I will do some more study for it.
I'm interested in your yellow lines + green / red circles in the chart. But it looks like need to do lots of work I'm not full time trader, don't have lots of spare time, so maybe some other time I will zoom you at your convenience.

Thanks again !!
Wish you green pips everday !!
  • #763,889
  • Aug 3, 2023 5:57pm Aug 3, 2023 5:57pm
Good night folks last day of fun for the week tomorrow poor NFP maybe 128 good NFP 125 heads I win tails I lose lol
Insane in the Brain..
  • #763,890
  • Aug 3, 2023 6:23pm Aug 3, 2023 6:23pm
Changing 1 detail here.

1 - Waiting the price cross the MA and show the point for open the trade.

1.2712 is the point for to sell.

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Together we can be strongest
Vantage Return This Month: na
  • #763,891
  • Aug 3, 2023 6:54pm Aug 3, 2023 6:54pm
Quoting palpite
Changing 1 detail here. 1 - Waiting the price cross the MA and show the point for open the trade. 1.2712 is the point for to sell. {image}
The price cross the MA, show the point and not can cross above the MA.

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Together we can be strongest
Vantage Return This Month: na
  • #763,892
  • Aug 3, 2023 7:05pm Aug 3, 2023 7:05pm
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Together we can be strongest
Vantage Return This Month: na
  • #763,893
  • Aug 3, 2023 7:08pm Aug 3, 2023 7:08pm
Quoting imjoshbrown
Today, I am a bit biased against the prevailing trend of the past 3 days. I am looking for some sort of lower level test, either a bounce of the 50 EMA or even a move as deep as a test of Wednesday's low of the week. Would be a beautiful head and shoulder pattern and end the day somewhere near the 1.2800 area, expecting an 80-100 pip swing high. The way the EMA's are fanned out indicates larger and shorter timeframes are all warranting sell signals. I'm very cautious of shorting back to the peak formation low of this week. {image}
Anticipating the inverse for USDCHF
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Discouragement is the language of the devil. Results over hype.
  • #763,894
  • Aug 3, 2023 7:09pm Aug 3, 2023 7:09pm
sell - 1.2711

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Together we can be strongest
Vantage Return This Month: na
  • #763,895
  • Edited 7:47pm Aug 3, 2023 7:28pm | Edited 7:47pm
Quoting palpite
sell - 1.2711 {image}
Not worked this time. Is good because of the small stop loss.

trade closed - 1.2715

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Together we can be strongest
Vantage Return This Month: na
  • #763,896
  • Aug 3, 2023 7:50pm Aug 3, 2023 7:50pm
Here's an interesting scenario for you all to think about ....

You're faced with the stark reality that you NEED to get your trading up to a point where you're gaining a return of 4-5% every day that you interact with the market/s. To be clear, this is a % return ONLY on those days you trade, NOT literally every single day.

You will NEED to have some kind of backup plan IF a trade doesn't work out for you. You're unable to merely take a stopped out loss and then 'move on' to the next blind trade setup.

And so, now, you face the issue of being completely transparent and honest and truthful about yourself and the way you trade AND how you see the markets you trade.

So now lets' ask the questions of the members here, that obviously don't get asked, because their "focus" is all on defacing and discrediting me and people like me who have a no bullshit policy.

So, why do YOU think/believe it is impossible / improbable / unfeasible / undoable to make a 4-5% gain each day you interact with the instrument/s you trade?

Is it simply because "you cannot do it so you assume no one else can do it"?

Is it because you do know how to do it but "you don't want other people to learn of these ways"?

3-5 reasonable setups is all you need, along with common sense not "trading sense" ... whatever that is to you. But if you're betting on using up to 2% of your account on ONE stop loss value based on a market value you simply cannot quantify (beyond gambling of course) because each situation is slightly different, then how are you to proceed?

Here's a quick point - If you can make a gain of 1% in a day, at what point does it stop being about "the market" and now becomes about you and basic numbers and mathematics?

Something to think about instead of listening to deadshit wankers online.


Peter
Real Trading is not gambling.
  • #763,897
  • Aug 3, 2023 7:54pm Aug 3, 2023 7:54pm
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}
I question how long a person has actually been trading when they talk about "liquidity zones etc". EVERY price point on that chart of yours IS a valued price of liquid movement. If your "current broker" won't offer that price value GO to another broker. Liquidity is everywhere. For crying out loud.


Peter
Real Trading is not gambling.
  • #763,898
  • Aug 3, 2023 8:00pm Aug 3, 2023 8:00pm
poor "noox" .... don't like to come in contact with the basic truth of real trading hah?!

hehehehehe

Peter
Real Trading is not gambling.
  • #763,899
  • Aug 3, 2023 8:02pm Aug 3, 2023 8:02pm
You cannot learn ANYTHING by putting everyone on ignore. We'll just wait til reality comes back around and smacks you in the face. Then you'll gain yet another opportunity to learn something.


Peter
Real Trading is not gambling.
  • #763,900
  • Aug 3, 2023 8:06pm Aug 3, 2023 8:06pm
Trying to break out of ascending wedge and has about 63 pips to resistance so cautiously bullish.
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