New Cable Thread & Other Pairs

Well done

USD/JPY

CHFJPY is at an all time high:

Hi Terry here is the post from the cable thread.... Glad to share it as you asked with your subscribers etc here
https://www.forexfactory.com/thread/...6#post14542756

First of all,,,,I dont recall the last time I ever traded GU... Mainly Oil and Dow. But regardless of the instrument the Mechanics of the markets do not change.

There is nothing new in trading..no matter what the "sellers" try to pawn off,,,

I just want to highlight in a very simple way the importance of OHLC Open High Low Close.

I have never seen this referenced on this site in the way I am about to show you,,,,

This comes from the age old practice of "reading the tape" before electronic retail trading as we know it...
Pit traders had these numbers noted daily as well as volumes and Pivotes even too as well as clients orders,,
there job was to obtain the best price for their orders.

The same applies to the charts we all follow,,, If you know what your looking for then you can not NOT SEE it ever again...
All this new fangled bullshit talk about SMC blah blah blah...ITS NOT SMART money Concepts (more marketing)

ITS SIMPLE MONEY CONCEPTS ! ! ! NOTHING NEW IN TRADING...

I highly recommend if your serious about your trading to study the relationship between the OHLC
of the most appropriate session and instruments for you...

The Opens and CLoses are big tells.
I use a 12 or 18 5min candle reference from the EQUITY opens. That is what all markets are geared too..Speaking of ALGOS.
For example I know by bar18(5m) from equity open...There is a 90% probability the High/Low of the day has been set ( 30 yrs of Indices Data)

But thats a whole nother subject TIMING/PRICE...2 axis on a chart you need to understand both are equally important and I would hedge on TIME actually being more important....

Enough babble and hope someones lightbulb goes off with the GU chart I am sharing... nothing cherry picked..Its simply last weeks chart..Nothing ever changes.
(this is only one part of the "fractal"OHLC but enough info for now)
All the best
Blue

Thanks again, its nice to see experienced members trying to help the new

Stop trying to catch every turn of the market !!!! it cant be done, it will destroy your account, believe me --- i was that guy once upon a time

Try to get better at losing --- the best loser wins the long game

Going to be looking for shorts tomorrow on UJ, still looks like more downside coming --- just want it higher to build shorts

UJ trade i am looking for... dont follow blindly.... targets to downside are the shaded grey zones if i get it right and thats a big IF

New Zealand USD has been showing interesting ranges lately.

Still see nzd/usd heading down a bit yet, not looking for buys but will keep watching it i think it could be ready soon for some upside

This is how i am playing GU, gonna take some time and we have big news this week so be careful

WHY ANY SERIOUS TRADER SHOULD USE THE NEW YORK CLOSE CHART https://www.fxstreet.com/education/w...t-201705240853

USD/JPY --- started building shorts, might still go over 14600 yet.. its a wait n see

GU UPDATE --- still going to plan so far

Would you be able to elaborate on why you think it needs to pop up there before dropping?

elliott wave, that red circle should be wave 2 then i will be massive short to under 125

Let's go then