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Cable Update (GBPUSD)

  • #769,121
  • Aug 22, 2023 1:49am Aug 22, 2023 1:49am
Quoting TheWraith
Fundamentally, you can be looking at weaker USD as a result of BRICS today and potential threat to its main reserve status.
it will be no to so easy to detrone dollar from his status, in history since the born of the euro it has been under threat but at the end the king is still there. I dont believe at the actual narration. IMHO dollar if brics go agree for a new goldbacked cryptocurrency big US lobbies will make a massacre in FX market
chaos is just unknown order
  • #769,122
  • Aug 22, 2023 1:50am Aug 22, 2023 1:50am
Quoting TheWraith
{quote} That's fine. But no teacher will constantly drag his students down. It's productive to start hard, but with time student gets used and start doing things automatically. It becomes pointless after some time.
don't be so soft.

The real world is tougher than me.
Real Trading is not gambling.
  • #769,123
  • Aug 22, 2023 1:51am Aug 22, 2023 1:51am
Quoting Luxyus
{quote} it will be no to so easy to detrone dollar from his status, in history since the born of the euro it has been under threat but at the end the king is still there. I dont believe at the actual narration. IMHO dollar if brics go agree for a new goldbacked cryptocurrency big US lobbies will make a massacre in FX market
Yeah...
It'll be interesting whatever happens. This might be the biggest attempt to dethrone USD I think.
  • #769,124
  • Aug 22, 2023 1:52am Aug 22, 2023 1:52am
game over
y's low is broken
dx is going down
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yes yes yes
  • #769,125
  • Aug 22, 2023 1:55am Aug 22, 2023 1:55am
Quoting PeterCaleb
{quote} don't be so soft. The real world is tougher than me.
Well, sometimes it is, sometimes it isn't. Just like a teacher..
You can have a teacher with more respect by not being "real" than the one who is "real" and is after learning through pain.

Some people work better under pressure, some fail miserably under pressure and need calm environment to function properly.
  • #769,126
  • Aug 22, 2023 2:00am Aug 22, 2023 2:00am
Short here
Emotional Control. Process, not outcome.
  • #769,127
  • Aug 22, 2023 2:02am Aug 22, 2023 2:02am
Quoting TheWraith
{quote} Well, sometimes it is, sometimes it isn't. Just like a teacher.. You can have a teacher with more respect by not being "real" than the one who is "real" and is after learning through pain. Some people work better under pressure, some fail miserably under pressure and need calm environment to function properly.
Hence the reason why I always suggest independent learning. Pressure or not, you'll have plenty of time to make mistakes, make notes of said mistakes and then learn from them. You cannot do that on these sites. It's a plethora of bad information and pure unadulterated bullshit.


Peter
Real Trading is not gambling.
  • #769,128
  • Edited 2:13am Aug 22, 2023 2:03am | Edited 2:13am
Quoting Konichiwhaat
Short here
So, price made a contact to consolidation zone at 1.277 just now, but because there are no news yet we wait?

Sorry, this is new to me.

I thought it was a good entry to go Long as soon as price made contact to consolidation area due to price being in uptrend.

When it closed the gap after touching consolidation zone, basically price had been given right to continue going up.
  • #769,129
  • Aug 22, 2023 2:09am Aug 22, 2023 2:09am
Quoting TheWraith
{quote} So, price made a contact to consolidation zone at 1.277 just now, but because there are no news yet we wait? Sorry, this is new to me.
Trading after news is always best for nice quick volatility. I would wait for a better chance. I actually just took this trade and had my chart on the wrong timeframe, so my entry was not validated! So even if this trade wins, I wouldnt celebrate it, as it was a mistake. But yeah, after red news has settled is always the best time to trade. Only need a couple of big events per week to make a living
Emotional Control. Process, not outcome.
  • #769,130
  • Aug 22, 2023 2:14am Aug 22, 2023 2:14am
EURUSD

D1 above W1 and W1 below MN1 so current D/1 W1 swing is corrective long , look to trade the next pullback for swing C from H4/H1
Follow The Markets Structure - Patience and Discipline
  • #769,131
  • Aug 22, 2023 2:20am Aug 22, 2023 2:20am
My Target 12818 before reversal
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  • #769,132
  • Aug 22, 2023 2:24am Aug 22, 2023 2:24am
up up and away
Attached Image (click to enlarge)
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yes yes yes
  • #769,133
  • Aug 22, 2023 2:28am Aug 22, 2023 2:28am
Gold H4 has a Low ,High, higher low, higher high formation , although D1 is still below W1 it looks like we are heading into a larger correction upwards
Follow The Markets Structure - Patience and Discipline
  • #769,134
  • Aug 22, 2023 2:29am Aug 22, 2023 2:29am
Quoting pipfarm
Gold H4 has a Low ,High, higher low, higher high formation , although D1 is still below W1 it looks like we are heading into a larger correction upwards
That would be amazing. Bought it at the low .
  • #769,135
  • Aug 22, 2023 2:31am Aug 22, 2023 2:31am
Here is a perfect example of pure bullshit that these sites produce ....


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This is a pic of what someone wrote on the "other cable" thread. Re: OHLC and tape reading.

This person clearly has no working knowledge or know-how of HOW tape reading is done or pivots or volumes "back then".

For anyone to learn ---

* OHLC is NOT transient in markets. It is NOT compulsorily used it is optional as a view of "something".
* Markets do not "open" they progress. ANYONE who has traded knows that open times are not real. They are known as performance staging. It is used as a 1-2-3 ready set go. A running start you could say. This includes FX and every other asset class.
* Volume is for price MATCHING not "order fill" ..... FUCK ME where do these people come from ??!!! It is for seeing the possible avenues to MATCH corresponding instruments. This is why people who try to trade using "market profile" or external data are missing the point and do not understand price matching and therefore "business".

*Price Pivot tools - FUCK where to start ??!! A real trader NEVER uses the same instrument's pivots to "trade" that same instrument. What the fuck ??!! WHY ??!!

There is no distinction to just using (eeeewwww) support and resistance tools of today. A "pivot" is a state of correlation between "inside that asset class" to "outside the asset class". SO, when merely using that same instrument's pivots, there is no price collapsable momentum, there is no price valuation and indifference and there is definitely no way to see the relationship. THEREFORE it is pure bullshit to place a price pivot tool on the chart of the instrument you wish to "take advantage of in that trade/financial decision". Price pivots represent and have ALWAYS represented what you cannot see as you literally stand on the floor or in the office of what you are going to trade at that moment. Eg - Sugar is up but the cost of international shipping just went way down by X%. HOW the hell can you know that IF you do not know the relationship present ? You won't see it on Sugar's chart (oh mighty chart wizard show me your secrets!!) Jeez.

THIS is what I am talking about.

Instrument -> Asset class -> Constituents -> Market Continuation.

Eg. The "GBPUSD" is not the gbp usd. It is the major constituents OF THAT WHICH DEEMS the "gbp" TO BE WORTH SOMETHING.

And the same applies to the "usd".

So as I have said, using USD index/s are pointless if you wish to keep your money. They are a deriv of a deriv OF another deriv. Don't agree or believe? Go and research it. They're well known for being manipulated and do not really offer insight.

Anyway, thought I'd share this and hopefully educate someone.


Peter
Real Trading is not gambling.
  • #769,136
  • Edited 4:06am Aug 22, 2023 2:33am | Edited 4:06am
Quoting Konichiwhaat
{quote} Trading after news is always best for nice quick volatility. I would wait for a better chance. I actually just took this trade and had my chart on the wrong timeframe, so my entry was not validated! So even if this trade wins, I wouldnt celebrate it, as it was a mistake. But yeah, after red news has settled is always the best time to trade. Only need a couple of big events per week to make a living
OK, this is where I would have got in. Adding more
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Emotional Control. Process, not outcome.
  • #769,137
  • Aug 22, 2023 2:34am Aug 22, 2023 2:34am
Quoting Moty
game over y's low is broken dx is going down {image}
DX H1 candle still not closed but there s an RSI(fast) divergence
chaos is just unknown order
  • #769,138
  • Aug 22, 2023 2:34am Aug 22, 2023 2:34am
Quoting TheWraith
{quote} That would be amazing. Bought it at the low .

D1 is still below W1 the change over into W1 is around 1908
Follow The Markets Structure - Patience and Discipline
  • #769,139
  • Aug 22, 2023 2:39am Aug 22, 2023 2:39am
Quoting Konichiwhaat
{quote} Why? Proof?
its going to take another swing on lighter volume....that is where the market swawks,walks, and talks baby!!! Sure it can go higher but the higher it goes the harder it will fall baby!!!
  • #769,140
  • Aug 22, 2023 2:39am Aug 22, 2023 2:39am
Quoting PeterCaleb
Here is a perfect example of pure bullshit that these sites produce .... {image} This is a pic of what someone wrote on the "other cable" thread. Re: OHLC and tape reading. This person clearly has no working knowledge or know-how of HOW tape reading is done or pivots or volumes "back then". For anyone to learn --- * OHLC is NOT transient in markets. It is NOT compulsorily used it is optional as a view of "something". * Markets do not "open" they progress. ANYONE who has traded knows that open times are not real. They are known as performance staging....
Very thought provoking…. I like it ! And I do agree with you Peter whoever that person was looks at the market in a very strange way
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