Cable Update (GBPUSD)

No more bull..going deep down..

Moty u r one guy who always mess with my thought process, ur conviction is so strong that it derails me....lol

I'm with you
If not, it's defence mode again

Agreed.

but wait for h4 to open for confirmation.

Why wait ?
This hourly candle is going to turn a big bullish hammer

V recovery?

I have thought long and hard about whether to write this post. And, on balance, have decided to do it.

I have some suggestions:

a) take all and I mean ALL indicators off your charts. Yep Trendlines and moving averages and stochastics and RSIs etc etc etc - what are they? Mathematical representations of price. The bars/candles before you. They are no indication of future price.

b) study pivots - and I don’t mean P-R1-S1-R2-S2 etc pivots. Pivots are swing highs and swing lows. 2, 3 and 4 bar patterns - look at major turns in the market you’ll see the swing pattern and it’s retrace ie recapitalisation

c) ignore all market commentary and guesses about where the market is going or reaching for - it isn’t ever look at price/real price action - the HIGHER the timeframe the better/stronger the swing and higher the probability of a successful trade

d) base trade ideas off these swings and retraces/recapitalisations

e) exit a trade when an opposing pivot forms on the timeframe you based your trade on

Please get rid of indicators and look at price and swings; their formation, structure, recapitalisation and yes, ICT, propulsion….

I’m a mathematician and can categorically tell you, indicators are useless. Spend time with ICT. He still has some stuff on YouTube and get to know price. Do not ever trade in a manner your broker’s training encouraged you to do. Go see ICT and stop guessing. React to price.

All best. K

failed to.close below 2727...
just wait to hit sl @2767 then going long for recover losses..

"After narrowly avoiding a recession so far this year, and with the likes of the IMF and the BOE no longer forecasting a recession in the UK this year, GBP bulls were dealt a fresh blow this morning. The National Institute of Social and Economic Research (NIESR) has warned in a new report today that the UK faces a more than 60% likelihood of recession next year as a result of BOE tightening."

it is no trade, TF in different directions, it is better to wait

maybe he mean wait for momentum
But it is alright, isee you dont put SL
Btw, im short 2732
Trade safe
Cheers

im on short side..h4 and daily is bearish on my chart..so safest trade is short..
goodluck bro

bro I admire your extreme activity to cable. your dedication for this pair is just very consistent. i think you are a very high mmr when u were still playing Dota 2.

for me to go long break and retest the trendline

Similar patterns bulls might take the next 4hr candle to fail the confirmation bears are waiting for otherwise 26600 cannot be ruled out

my last mmr is 9000..i sold my acc for $6000..buyers from france..lol

DXY exactly between today's high and low.

Not enogh volumes to confim a direction.

Scalp and enjoy the YoYo!