Cable Update (GBPUSD)

Hi, lol, you are in good company! Nice chart and observation re the 161.8% extension - thx. Price will do what it will do, None of us know for sure...it's just probabilities. Sometimes our edge can tell us that - whether or not say it is the greater probability, [assuming one uses a 'greater probability' edge]and that this plays out on any particular occasion, or not. Y/day's dly candle is at least suggestive of an upside follow-thru is it not? This statement though is based on anecdotal multi-year evidence not empirical recorded/documented evidence so I have no such stats to say that such an upside follow-thru is the greater probability or nort on this dly t/f, on this gbpusd pairing.

As we can see in 1h chart rejection this may lead a correction. To.1.261 but 4H show it is on the resistance level. So it could possibly go up to 1.31

Hi, that 2800 is part of a prev dly/4hr sw hi zone = prev res = pot res, that extends to 2818, ie is was tested @ 2800 and rejected with the subsequent eventual drop to 2547. There is pot (potential) resistance before this, not least the prev 1hr/minor 4hr sw hi zone to y/day's 2747 hi, then another to 2764/65. Fibs & Dly R1 before it too. Dly R2 just above it @/around 2823.

4hr below

I read the discussion you were trying to have about money changers, which is a term that is used in the Bible but I've never seen it used in modern financial discussions. Modern people calls them banks, and modern people use debit cards or credit cards at ATMs when they travel to purchase some local currency. If you traveled internationally 35 or 40 years ago, you would exchange your currency for local currency at the currency exchange window (operated by a local bank) at the airport or wait to find a local bank to exchange money. Back then, a bank would have to account for their stocks of various currencies, and would set the exchange rate several times a day. I'm a frequent international traveler, but only carry small amounts of foreign currency for incidental purchases or a taxi (when uber isn't available). So the notion that a currency get more traction because the money changers value holding on to it is an out dated concept. Money changers are banks. And money changes hands via the forex. And no one has to report their activities to the IMF (I'm confused by the link to IMF reports). Good trading!

Cable analysis:
Waiting for sell opportunity, intraday trend still skewed to long side.

I come back to Popper. Predicting the future through astrology cannot be scientific, if it uses 100 % statistical data. Everything can be proven with statistics, but the truth, the future, cannot be found. Collecting data in forex cannot be used to decide: yesterday gu was stronger after a weak report. There is an internal geometry that is decisive.

Below 2750..first target pivot..2695/90.

The wait for London open to do the rest.

hi Which time you target if below 2750 for 2695 inter day or London opining

Until London open + 1hr.

This is only my opinion, I suggest , do not copy my trades.

If things turn around, I will take losses quickly.

No thanks' Friend i not copy just i think there movement and i will try make a plan for to day

after 1.2690 you going long ?

will check the PA that time or will quit trading for today if i make my money for today.

I expect today and tomorrow to be extremely risky

Long GU
SL 15p
TP 50-70p

Here you go .. take it or leave it.


Same. Similar. Different. Opposite.

Very small. Small. Medium. Large. Very Large.

The principle concept is very old, and is feasibly what the world of people is built on. So no I did not just "make it up". You'll find it threaded through all history on Earth. Money and markets etc have to personify this as it must be relatable. Otherwise people wouldn't/couldn't be attracted to it or see a use for it.





From another thread (that I have previously observed, personifies the opposing view to this thread's approach to knowledge and information) at

https://www.metalsmine.com/thread/po...4#post14556374

NO not advocating for or advertising that thread, merely to show that this thread considers information in one way and their thread considers information in another way. Of course it's TRULY funny when you place both threads side by side and look at them without any opinion or preference. You'll notice HEAPS of similarities, both in information base and attitudes.

Layers are in everything. Even "digger1" on that thread could not arrive at the use of those indications, the timings and 'trade setups' etc seen on that thread and that pic, unless the layers were observed in some way. Perhaps not viewed as layers or called that, but they're there.

Momentum has layers. "Volatility" also has layers. Money conditions do too. People have layers - eg. - onlooker, beginner, intermediate, experienced, highly experienced, experienced veteran etc etc.

So when I read people talking as if 'the market/s' are random or highly anticipative/predictable or people just trying to guess, it warms my heart. YES of course I think people pave their own way toward stupid ideas but that's really because they judge rather than observe for long enough. So on this thread, as with "Aussi's" thread, the cruel irony of 'wanting the money/cash" actually instills greed/more greed into the psyche of the person attempting to trade or invest. It creates very bad habits and thinking.

You people may just stick with the normal tf's your charting software has as default but there are many useful tf's.

I find people's attitudes generally precedes them LONG before their intelligence or even physical presence. I have found this to be reality on this thread as well as "Aussi's". So in this way layers operate in a sideways form. A simple side-by-side comparison. Now comes context.

Most people have the idea that once the money hits your account and you transfer it to your real world eg. savings account etc, then the job is done/over. Not true. I think it's HILARIOUS that people think this way, because all you've done is stepped out of one layer and into another. The smaller into the bigger. So people who are "only after the cash/money" are PROVING they have no concept OF money. Now the person has stepped into a sideways layer. In this position they can either choose to yield and so then learn something, or, they resist this being offered, and try to continue on as if nothing happened.

Layers are what your society is built on. I think it's funny when people ("trader" or not) try to "simplify" or try to make something too superficial. It shows they "want something" but are only prepared to learn the bare minimum to get it ...... AND KEEP IT.

So now we move into the next layer down ... societal ignorance or knowledgeable awareness. You don't need to be scientific or religious or spiritual etc to approach this, although I have found that the "more" a person is or is not one of these, the greater the resistance to any helpful learning. General knowledge is with you forever even if trading is not.

And now to percentage layering. %'s have layers as does desired outcomes.

From my experience, it does not matter if you're a farmer, a businessperson, a politician or anything else, as it is all around you and part of all that is around you. So "attitudes" do not count. Stories do not count. Part of it yes, but they do not carry overwhelming weight of importance on their own. Whether you think that data is paramount, or it's 'fagazi' makes no difference, at the appropriate layer. THIS is why i LAUGH.

On both of the threads I have mentioned here, I think it's funny and rather disturbing - the opposing beliefs and attitudes to the same thing. Trying desperately to stand out against the "others" on these sites yet getting nowhere, because once you get past the surface layer and attitudes, you now are faced with reality. There is no hiding it as it is intertwined in all of our society's categories of living. They are, in fact, basically the same thing.

One endorses specific beliefs and attitudes and "experience/s" while the other does not. BUT, the other that does not (eg. Cable update), endorses the counterpart TO the original thread (Aussi's) or vice versa. Eg. same coin 2 different sides. So the layering brings you back to - Same. Similar. Different. Opposite.

Right back to where we started.

Layers. Upward/Downward. Sideways. Context.

It would be a funny and interesting experiment to perform, where, all of the current charting software was eliminated from the marketplace and each person had to adapt to new circumstances and "equipment". In that situation, you would find out VERY quickly what a person has really learned. Or, whether they merely schemed to "get money". And I find it interesting when the "under/over" educated try to hide their inadequacies/insecurities usually by overcompensating.

Anyways, chew on that for a bit.

What's the point in learning about layers? Clarity of mind as a person not just someone seeking to get money.


Peter

MOST countries of the world have been in a recessive state since 2000. It would be nice if people went and did some real research.

I am ready to trade bearish side atleast until NYO this GBPUSD.

I may be wrong.

I always stick with my stop loss.

2745 is my stop loss

I find it funny and curious when so-called educated people cannot meld personal experience with thorough research. If this was performed, why the confusion about money and money changers?

Interesting to consider.

Gotta "love" online communities. 21st century "people" are a real laugh.


Peter

i dont think trading has anything to do with knowledge, intelligence or education.. a cme local who traded ES back in the day was a family friend when i was young. He just had a h.s. education and what alwsys struck me funny was... he always had a beard or goatee and whenever he was over to the house hed have food crumbs in his whiskers LOL but he made big money and didnt have to answer to anyone and i wanted to be just like him minus the crumbs LOL

trading is 90% emotions and 10% technical analysis (knowledge)

i just made some posts how despite my knowledge that the asians will probably intervene which ive been saying for a couple weeks i had to close my shorts today at a loss because my emotions took over and crowded out my intelligence...

hormones will always rule and run over intelligence

https://www.forexfactory.com/thread/...2#post14556482
https://www.forexfactory.com/thread/...2#post14556492
https://www.forexfactory.com/thread/...7#post14556517

Zebi, please try to eliminate your emotions. Use your intelligence and you'll have better succuss...

I've been following you for a while and you have everything it takes to be successful trader.

BTW, I drive daily under the old CME - magnificent view. Looks said inside these days comparing to what it used to be. More WGN reporters than traders

Wish you luck on your journey.

1.2690?