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Cable Update (GBPUSD)

  • #765,561
  • Aug 9, 2023 9:04am Aug 9, 2023 9:04am
2 3 hours scalping market only
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #765,562
  • Aug 9, 2023 9:08am Aug 9, 2023 9:08am
Quoting Moty
{quote} Why wait ? This hourly candle is going to turn a big bullish hammer {image}
Usually the price pulls back after hammer candle.

After that where is the entry ?

Look at this..you knew definitly about this set up.

We have talked about this for years
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Intraday only.
  • #765,563
  • Aug 9, 2023 9:08am Aug 9, 2023 9:08am
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DXY almost at the morning low levels however GBPUSD is still 35 pips away from morning high.

I sincerely doubt it will touch 1.2800 today but I will be happy to be wrong.
  • #765,564
  • Aug 9, 2023 9:09am Aug 9, 2023 9:09am
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yes yes yes
  • #765,565
  • Aug 9, 2023 9:10am Aug 9, 2023 9:10am
Quoting Yngwie
2 3 hours scalping market only
annoying..
Better waiting.. somehow with very bad trades i almost BE today.
but everything start ugly and with luck recover
  • #765,566
  • Aug 9, 2023 9:10am Aug 9, 2023 9:10am
Quoting Whale
Look like 1.2808 is a minimum target right now. but it switching momentum too fast.. hate it.
Price is Ranging before CPI... hope you are looking forward to tommorow, because I am!
Range is always ugly and no indicators work in Range. Indicators are all made for trending markets.
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  • #765,567
  • Aug 9, 2023 9:14am Aug 9, 2023 9:14am
Quoting TheWraith
{quote} What kind of difference, don't understand haha... I like it the way it is now.. last H4 closes at exactly 11PM (in Croatia) when market resets. You're saying I would get different signals and candle bodies if I used different time zones? That's interesting actually.
https://www.fxstreet.com/education/w...t-201705240853
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  • #765,568
  • Aug 9, 2023 9:16am Aug 9, 2023 9:16am
@TheWraith now check out @Navk's note about post candle impact.
  • #765,569
  • Aug 9, 2023 9:17am Aug 9, 2023 9:17am
Quoting T721
{quote} https://www.fxstreet.com/education/w...t-201705240853 {image}
Good article! I don't have Sunday candles though..
It does look better than GMT yeah.
  • #765,570
  • Aug 9, 2023 9:19am Aug 9, 2023 9:19am
Quoting Whale
{quote} annoying.. Better waiting.. somehow with very bad trades i almost BE today. but everything start ugly and with luck recover
Just remember my saying.

Asia goes up... then rest of the sessions down.

Asia goes down... then rest of sessions up.

You have seen what happened today.

Asia.. range 30 to 40 pips. when to take counter trend trade ? After 30 to 40 pips...finish from asia open to b4 LO.

Meaning 5 pm est to 3 am est.

Just observe this.
Intraday only.
  • #765,571
  • Aug 9, 2023 9:21am Aug 9, 2023 9:21am
Quoting TheWraith
{quote} Price is Ranging before CPI... hope you are looking forward to tommorow, because I am! Range is always ugly and no indicators work in Range. Indicators are all made for trending markets. {image}
TMA works best for ranging market as well as asian session.
Intraday only.
  • #765,572
  • Aug 9, 2023 9:25am Aug 9, 2023 9:25am
Quoting dantpm
{quote} This will make a difference to your candles! EST 1am 5am 9am 1pm 5pm 9pm GMT +1 8pm 12am 4am 8am 12pm 4pm
1 am est 4 hr candle does not help much.

Not asia open not london open not NY open.So does not help.

The best are 9 pm est, 9 am est, and ofcourse 5 am est.
Intraday only.
  • #765,573
  • Aug 9, 2023 9:25am Aug 9, 2023 9:25am
Quoting navk
{quote} Just remember my saying. Asia goes up... then rest of the sessions down. Asia goes down... then rest of sessions up. You have seen what happened today. Asia.. range 30 to 40 pips. when to take counter trend trade ? After 30 to 40 pips...finish from asia open to b4 LO. Meaning 5 pm est to 3 am est. Just observe this.
Sorry navk.. not sure it working like that.
it you found it good, go for it.
  • #765,574
  • Aug 9, 2023 9:26am Aug 9, 2023 9:26am
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yes yes yes
  • #765,575
  • Aug 9, 2023 9:28am Aug 9, 2023 9:28am
bear storm is coming..
  • #765,576
  • Edited 10:26am Aug 9, 2023 9:28am | Edited 10:26am
Quoting navk
{quote} 1 am est 4 hr candle does not help much. Not asia open not london open not NY open.So does not help. The best are 9 pm est, 9 am est, and ofcourse 5 am est.
Several people are talking about using the 4 hour candle as a signal. I am a simple guy. It simply makes sense to get the candle aligned with market activity to use it as a signal for what is happening in the market. I appreciate your pointing out which 4 hr candles are more impactful.

EDIT
As long as your broker has a 4 hr offset with the forex market, the 4 hr candles will be consistently shaped, it is only an issue if you have something other than a 4 hr offiset.
  • #765,577
  • Aug 9, 2023 9:29am Aug 9, 2023 9:29am
Quoting TheWraith
{quote} Price is Ranging before CPI... hope you are looking forward to tommorow, because I am! Range is always ugly and no indicators work in Range. Indicators are all made for trending markets. {image}
Range is beautiful. It shows fair value where buyers and sellers agree and the level the market seeks. It is the most important level to the market and the perception of that value is what causes trends. Value(range) along with trends indicates direction. So range is the indicator. Imbalance and balance. Recognize that it in the totality of light and dark that divinity resides. 2 opposites that form the whole.
  • #765,578
  • Aug 9, 2023 9:29am Aug 9, 2023 9:29am
Quoting TheWraith
{quote} Good article! I don't have Sunday candles though.. It does look better than GMT yeah.
Hi
It did have this problem on two different platforms Trading View & MetaTrader4, one and the same broker. MT4 was showing the " Sunday " candle!
And as for the first I didn't see the " problem " as I was trading two accounts in the same time, but as I started to have some mistakes I did not know from where, only after one big mistake, I was looking closer to the charts, knowing that I did nothing wrong... but the differences between them made it big time...

Keep it up
Keep trading and learning or keep learning and trading!
  • #765,579
  • Aug 9, 2023 9:30am Aug 9, 2023 9:30am
Quoting TheWraith
{quote} Good article! I don't have Sunday candles though.. It does look better than GMT yeah.
IG who i trade with has a Sunday canlde so i use trading view also
  • #765,580
  • Aug 9, 2023 9:32am Aug 9, 2023 9:32am
I was just looking at some seasonal charts and noticed GBP/USD has a strong downward bias in August. Thought you all might be interested to see!

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