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Cable Update (GBPUSD)

  • #769,041
  • Aug 21, 2023 3:04pm Aug 21, 2023 3:04pm
Quoting ninner
{quote} yes i agree with thewraith man......it wants to go downtown!!!

Sorry..nope
  • #769,042
  • Aug 21, 2023 3:05pm Aug 21, 2023 3:05pm
Quoting thevisitor
{quote} Sorry..nope
ok well that makes a market my friend.

stay gold.
  • #769,043
  • Aug 21, 2023 3:07pm Aug 21, 2023 3:07pm
Quoting Pat Chiko
{quote} GOLD Waititng for N3 Waititng for comment{image}
This gold is gold
  • #769,044
  • Aug 21, 2023 3:07pm Aug 21, 2023 3:07pm
still needs to get and stay within 1.2755 to get within the lower range.
  • #769,045
  • Aug 21, 2023 3:09pm Aug 21, 2023 3:09pm
im gona get a buy signal on daily dollar if closes like this in hour sooooo...

ill close my gold short during asia cause im sure the whiny crybaby asian central banks see the buy signal and will try to dump dollars tonight
short trump and go long the deepstate
  • #769,046
  • Aug 21, 2023 3:16pm Aug 21, 2023 3:16pm
Does it really matter where it wants to go, or does it only matter where it is going...
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  • #769,047
  • Aug 21, 2023 3:24pm Aug 21, 2023 3:24pm
Quoting alexx90
Does it really matter where it wants to go, or does it only matter where it is going... {image}
my view it is going downtown....
  • #769,048
  • Edited 3:50pm Aug 21, 2023 3:32pm | Edited 3:50pm
Well, change of plan!

This is why I spend some time looking at the charts without anything but candles on them.
This is exactly why I do it!

GBP/USD Daily Chart

It seems after thorough analysis that price is in, still, uninterrupted uptrend so Selling is actually not my plan anymore. Plan at this point is to Buy any signal to go Long from 15M and so on...

In an uptrend, it doesn't matter if price goes below the last HH, but it matters only if price goes below the last HL, then the uptrend is officially over and on GBP/USD Daily Chart we still do not have a break below the last HL.

Most of you are scalpers so doing this exact analysis on lower TF is what is advisable.
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  • #769,049
  • Aug 21, 2023 3:55pm Aug 21, 2023 3:55pm
Still, I have unanswered question I would like to know the answer to.

Anyone can comment and provide his opinion on why this is the case.

So, whenever price breaks through the last HH, HL, LH or LL, why does the price has to come back and retest that HH, HL, LH or LL before it can advance further?

Why does this retest takes place? If someone knows or thinks he/she knows please provide your opinion, because I don't know and would like to know.

Thanks!
  • #769,050
  • Aug 21, 2023 4:01pm Aug 21, 2023 4:01pm
Quoting TheWraith
Still, I have unanswered question I would like to know the answer to. Anyone can comment and provide his opinion on why this is the case. So, whenever price breaks through the last HH, HL, LH or LL, why does the price has to come back and retest that HH, HL, LH or LL before it can advance further? Why does this retest takes place? If someone knows or thinks he/she knows please provide your opinion, because I don't know and would like to know. Thanks!
Hi

Could you show what you mean by retest?
How to succeed in zero sum game?
  • #769,051
  • Aug 21, 2023 4:03pm Aug 21, 2023 4:03pm
Quoting dempire1
{quote} Hi Could you show what you mean by retest?
You know... when there is some Resistance for example and then price makes a breakthrough above the Resistance, comes back to to that same Resistance and only then after touching that Resistance (retest) does the price continue further up.

Why does the price has to come back to the Resistance in order to continue to go up? What is actually happening there?
  • #769,052
  • Aug 21, 2023 4:27pm Aug 21, 2023 4:27pm
Quoting alexx90
Does it really matter where it wants to go, or does it only matter where it is going... {image}
what is that indicator/ea called on your chart please?
  • #769,053
  • Aug 21, 2023 4:33pm Aug 21, 2023 4:33pm
havent logged in forever. been working on outside projects and in background on fx and other stuff. Finally have a system after almost 20 years in the game that I can rely on . will be uploading more as i get time or maybe even automating.


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  • #769,054
  • Aug 21, 2023 5:07pm Aug 21, 2023 5:07pm
Quoting Zebi
ok thats one down {image}

i left my two other orders in and tp 1888
no sl yet
short trump and go long the deepstate
  • #769,055
  • Aug 21, 2023 5:11pm Aug 21, 2023 5:11pm
Quoting squidster85
havent logged in forever. been working on outside projects and in background on fx and other stuff. Finally have a system after almost 20 years in the game that I can rely on . will be uploading more as i get time or maybe even automating. {image}
Hi mate, it looks like a well prepared model. Did you use linear regression models? And what types of data does it depend on to forecast the future?
You have to have an IQ higher than 90 to interact with this user.
  • #769,056
  • Aug 21, 2023 5:18pm Aug 21, 2023 5:18pm
Quoting TheWraith
{quote} You know... when there is some Resistance for example and then price makes a breakthrough above the Resistance, comes back to to that same Resistance and only then after touching that Resistance (retest) does the price continue further up. Why does the price has to come back to the Resistance in order to continue to go up? What is actually happening there?
I don't think that it does. Maybe this happens more often in the FX market. Maybe it also happens more when an instrument is ranging. I understand that people in here might have had to adapt to ranging market conditions (or thought they had to). Personally, I try to avoid ranging instruments.
Trade at your own risk.
  • #769,057
  • Aug 21, 2023 6:07pm Aug 21, 2023 6:07pm
Quoting Nordling
{quote} Hi mate, it looks like a well prepared model. Did you use linear regression models? And what types of data does it depend on to forecast the future?
it not linear, its an ensemble method with 50 models pumped into deep learning. Not holy grail, but consistent in being correct.
  • #769,058
  • Aug 21, 2023 6:10pm Aug 21, 2023 6:10pm
Upcoming price movements- opinions?
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  • #769,059
  • Aug 21, 2023 6:35pm Aug 21, 2023 6:35pm
Quoting I4I
Upcoming price movements- opinions? {image}
Better go down 150 pip
You have an IQ lower than 90 if you interact with this user.
  • #769,060
  • Aug 21, 2023 6:41pm Aug 21, 2023 6:41pm
Quoting TheWraith
{quote} You know... when there is some Resistance for example and then price makes a breakthrough above the Resistance, comes back to to that same Resistance and only then after touching that Resistance (retest) does the price continue further up. Why does the price has to come back to the Resistance in order to continue to go up? What is actually happening there?
It is very important to understand why the Forex market moves like it does. In this video (old, pre guru times) Chris Lori will answer your question exactly. Watch it, then watch it again and again. It still play it now sometimes when I'm trading. Must have watched it hundreds of times. Once you get this it (hopefully) will change your trading forever
Inserted Video
Emotional Control. Process, not outcome.
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