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Cable Update (GBPUSD)

  • #766,281
  • Aug 11, 2023 5:21am Aug 11, 2023 5:21am
I TPed.
The market hides a perfect geometry.
  • #766,282
  • Aug 11, 2023 5:21am Aug 11, 2023 5:21am
Quoting Konichiwhaat
{quote} This block of past order flow must hold or I will humbly admit defeat and enjoy my weekend {image}
Back on track. Two hours to go
Emotional Control. Process, not outcome.
  • #766,283
  • Aug 11, 2023 5:28am Aug 11, 2023 5:28am
Quoting FulMargnAlch
{quote} Nice. I similarly use somewhat like that, the major flow of the market appears bearish, but the minor flow here is bullish. If this minor bullish flow cannot prove its point, down we go.
Looks like the minor flow is proving something here. That line appears again and played some tricks, need to be more careful. It's really hard to trade real time, one tick and that is how it is decided.

BE always for safety.

I might sell this again, it's really 50/50 from here.
Attached Image (click to enlarge)
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The market hides a perfect geometry.
  • #766,284
  • Aug 11, 2023 5:29am Aug 11, 2023 5:29am
Quoting Konichiwhaat
{quote} Give it some room. Give it some time. Let it breath. History doesn't repeat itself, but human behavior does
Was very hard to let it keep breathing when it went under 2700 moments ago.
Hopefully I was right to allow it, and maybe I'll be back here to thank you for your voice in my head telling me "let it breath."
  • #766,285
  • Aug 11, 2023 5:42am Aug 11, 2023 5:42am
Enough of this torture.
I'm out. Sidelines until NY session.
  • #766,286
  • Aug 11, 2023 5:48am Aug 11, 2023 5:48am
TBH, I’m starting to enjoy the Friday night commentary again.
Compulsions can be hard to resist
  • #766,287
  • Aug 11, 2023 5:49am Aug 11, 2023 5:49am
Quoting Konichiwhaat
{quote} This block of past order flow must hold or I will humbly admit defeat and enjoy my weekend {image}
The First Picture is Weekly: We have a very beautiful Uptrend and retest of the previous High which was resistance and is about to turn to support. If you also look at how last week closed, the wick rejected of that broken resistance turned support with a larger wick than the body.

The Second picture is Daily: The Weekly resistance turned support is even stronger on the daily as we are testing it for the second time now. Potential double bottom is about to form given today closes bullish. Confirming Bulls once again.

The Third Picture is Zoomed out H4: there is a clear XABC pattern and we need the D to complete that Harmonic. Also, there is a trendline that confirms the momentum to the upside, which it already rejected for the third time. The Impulse started on Mays Low and Form A RALLY-BASE-RALLY, we are now back testing the BASE and the market should continue RALLYing to the upside. The Next Impulse should at minimum get to 1.30000.

The Fourth Picture is a Zoomed In H4: As you can see we had a clear Liquidity close to support and it liquidated and came back into our range. Also we had, a CHOCH (Change Of Character) and above that CHOCH we have An un mitigated OB and Above it we have an Imbalance.

ULTIMATELY. THE MARKET SHOULD BE MOVING UP ALL WEEK NEXT WEEK. OFCOURSE< ITS JUST MY ANALYSIS.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: Daily GBPUSD.png Size: 16 KB
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Click to Enlarge Name: GBPUSD Closer Look.png Size: 21 KB
  • #766,288
  • Aug 11, 2023 5:53am Aug 11, 2023 5:53am
Attached Image (click to enlarge)
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yes yes yes
  • #766,289
  • Aug 11, 2023 5:53am Aug 11, 2023 5:53am
Quoting bfx17
{quote} i wouldnt worry too much about that...
Very critical level
  • #766,290
  • Aug 11, 2023 5:54am Aug 11, 2023 5:54am
Here is the Chinese data on new loans and money supply. Indicates tightening in China that will have global impacts!
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  • #766,291
  • Aug 11, 2023 6:06am Aug 11, 2023 6:06am
Todays pa is not too clear. Price can go either way.
I’m currently long on GA…. I saw a long signal on GU but didn’t take it because there are too many levels above.

Trade with caution ️ today, don’t give back all your weekly hard earn…

Good luck,
My telegram: https://t.me/avidforex
  • #766,292
  • Aug 11, 2023 6:10am Aug 11, 2023 6:10am
Quoting dantpm
Here is the Chinese data on new loans and money supply. Indicates tightening in China that will have global impacts! {image}
Particularly AU.
It is in ranging mode since morning, preparing for another leg down
More time in the market, does not mean you trade better!
  • #766,293
  • Aug 11, 2023 6:11am Aug 11, 2023 6:11am
Quoting BrainBucks
{quote} Was very hard to let it keep breathing when it went under 2700 moments ago. Hopefully I was right to allow it, and maybe I'll be back here to thank you for your voice in my head telling me "let it breath."
Yes, no problem. You have to give these trades space, looking to the left for "protection" in the form of lots of past orders to place your SL. I see you have recently passed you prop firm challenge. Well done, but never risk more than 0.1% of your account. Don't be in a rush. Those firms are in the business of recruiting bad traders that blow up. Be careful not to become one. Wishing you the best of luck!
Emotional Control. Process, not outcome.
  • #766,294
  • Aug 11, 2023 6:15am Aug 11, 2023 6:15am
Quoting TheWraith
{quote} Confirmation indicator 1, confirmation indicator 2, confirmation indicator for 1. confirmation indicator, confirmation indicator for 2. confirmation indicator and confirmation indicator for every confirmation indicator! Hahahah
Actually the first two macd's get you into trades and the 3 keeps you in or gets you out of the trend.
I switched to a colored macd (recolored for direction), added the sessions indicator and the heiken ashi candle overlay.
I believe it is pretty easy to follow.
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  • #766,295
  • Aug 11, 2023 6:17am Aug 11, 2023 6:17am
Quoting BrainBucks
Enough of this torture. I'm out. Sidelines until NY session.
What happened? Did you bring your SL up to BE?
Emotional Control. Process, not outcome.
  • #766,296
  • Aug 11, 2023 6:25am Aug 11, 2023 6:25am
Quoting Whale
Imo sell 1.2825/3 area.. it could extended a lil bit more.. but all i want is short to 1.259 minimum.
my sells triggered
1.2725

there is a typo in the original post.
  • #766,297
  • Aug 11, 2023 6:25am Aug 11, 2023 6:25am
Quoting Konichiwhaat
{quote} What happened? Did you bring your SL up to BE?
I just hit BE and considering how close we are to the news releases I just thought to step aside.
And no I have yet to pass the prop challenge; I am currently on the second phase.
But I am grateful for the nuggets of wisdom. Thanks.
  • #766,298
  • Aug 11, 2023 6:25am Aug 11, 2023 6:25am
GBPCHF long. I’m trading less today.. Always take not of the nearest level for partial I think it’s about 70 pips away.

Another pair to watch out for a drop is USDCAD.

I’m headed out to take care of other business.


Good luck.
Attached Image (click to enlarge)
Click to Enlarge Name: 9D1AE99B-5056-4511-9560-F791267B14BB.jpeg Size: 326 KB
My telegram: https://t.me/avidforex
  • #766,299
  • Aug 11, 2023 6:30am Aug 11, 2023 6:30am
Quoting monaghan
Morning All if we close above middle band and pivot, we go up, if not down again {image}
happy to see another bollinger bands user
  • #766,300
  • Aug 11, 2023 6:32am Aug 11, 2023 6:32am
Quoting BrainBucks
{quote} I just hit BE and considering how close we are to the news releases I just thought to step aside. And no I have yet to pass the prop challenge; I am currently on the second phase. But I am grateful for the nuggets of wisdom. Thanks.
No worries. Be careful not to close your trades at BE if you always allow your full SL to be hit. This will have a negative affect on your account over time, as well as your mental state. Stay out now. Keep an eye on the price action right up until the news in one hour. You got this!
Emotional Control. Process, not outcome.
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