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Cable Update (GBPUSD)

  • #771,641
  • Sep 1, 2023 12:15am Sep 1, 2023 12:15am
Quoting TheWraith
{quote} If you're right, you started Buying at probably the best price.
144 range
POSTMASTER
  • #771,642
  • Sep 1, 2023 12:15am Sep 1, 2023 12:15am
Hello traders,

A lot of wisdom in the threads today, with many perspectives that make this a rich learning ground for all involved.

To PeterCaleb, your insights about trading not being gambling are spot-on. The essence of trading lies in risk assessment, technical understanding, and psychological management. I love the point about 'movement inside movement' and how people often get too hung up on timeframes. They are just one tool in a much larger toolkit, and I agree that context is king.

On the point about real-world events affecting trading decisions, like geopolitical tensions and issues like NATO's actions and Russia's reactions, it's a stark reminder that trading doesn't exist in a vacuum. Markets are global ecosystems that can be swayed by numerous factors. It's a timely nudge for us to broaden our information horizons and consider the larger scheme of things.

To firsttimer and Whale, your technical analysis on the potential 'bearish' and 'bullish' areas is a solid guide for people looking for specific markers. It's good to have these numbers to keep our biases in check.

Dantpm, Okun's law observation is an interesting one, and it's a crucial reminder to keep an eye on macroeconomic indicators and how they might correlate with currency movements. Responding to data rather than preemptively acting on forecasts could save a lot of us from unnecessary risks.

Fx3423454 and TheWraith, you both are touching on a crucial aspect, that is, understanding market sentiment and liquidity pools. It's not just about where the price is, but also where it could be heading and the forces that might be driving it there. Trading at one's own risk but with an understanding of the traps that might be out there is a sound approach.

Robinhood1 and gespiri, the talks about gold and potential double bottoms add a great layer to the conversation. Diversifying into other assets or even understanding their movements can add another layer of security or opportunity to our primary forex trades.

In essence, the trading game is ever-evolving, and what makes this forum so invaluable is the wealth of perspectives and insights we each bring to the table. Let's keep sharing, learning, and most importantly, trading responsibly.

Cheers, and may the odds be in your favor.

Trade safe, everyone.

Best regards,
100MDC
Follow me on my www.100milliondollarchallenge.com
  • #771,643
  • Sep 1, 2023 12:37am Sep 1, 2023 12:37am
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  • #771,644
  • Sep 1, 2023 12:42am Sep 1, 2023 12:42am
Quoting navk
{quote} Until NYO.... long only
the break is coming
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yes yes yes
  • #771,645
  • Sep 1, 2023 12:43am Sep 1, 2023 12:43am
Quoting TheWraith
{quote} I think yesterday price went for liquidity down and is going up today above 1.28.
This would potentially trap a lot of people!
The prop firm MFF suspension might play a role in trading today, keeping more informed traders on the sideline.
As usual if retail traders try shorting NFP it will probably go long and if retail traders buy NFP it will probably go short.
Holiday weekend in the US, Canada and a few more countries.
[https://www.qppstudio.net/public-hol...eptember-4.htm]
  • #771,646
  • Sep 1, 2023 1:03am Sep 1, 2023 1:03am
Any ideas about the spike at the open of Frankfurt?
  • #771,647
  • Sep 1, 2023 1:08am Sep 1, 2023 1:08am
Quoting dantpm
Any ideas about the spike at the open of Frankfurt?
Probably the negative Nationwide HPI m/m result, much more different that forecast. I good reason/excuse for trades to keep it going south for the day or up until US news
Emotional Control. Process, not outcome.
  • #771,648
  • Sep 1, 2023 1:11am Sep 1, 2023 1:11am
Quoting Konichiwhaat
{quote} Probably the negative Nationwide HPI m/m result, much more different that forecast. I good reason/excuse for trades to keep it going south for the day or up until US news
Interesting. Dropping housing prices suggest inflation coming out of the economy so less of a need to maintain high rates. That kind of fits. TheWraith's liquidity sweep still fits. It is 'retesting the low of the day' for many currencies and the high of the day or the USDX.
  • #771,649
  • Sep 1, 2023 1:18am Sep 1, 2023 1:18am
Quoting dantpm
{quote} Interesting. Dropping housing prices suggest inflation coming out of the economy so less of a need to maintain high rates. That kind of fits. TheWraith's liquidity sweep still fits. It is 'retesting the low of the day' for many currencies and the high of the day or the USDX.
Just a reaction I guess. Also, if you count back the last 6 five min candles before the data came out, price was already rolling over. This is quite often a good sign of how price might react at the data release, but like everything, not always
Emotional Control. Process, not outcome.
  • #771,650
  • Sep 1, 2023 1:20am Sep 1, 2023 1:20am
GU short, SL13pips
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  • #771,651
  • Sep 1, 2023 1:25am Sep 1, 2023 1:25am
Quoting Luxyus
{image} DX index Wyckoff analysis integrated with Fibonacci speed resistance fan. it looks in Accumulation process, approaching phase D and expecting a mark up before end of the year. I ll continue to short fiber and cable
only one way
chaos is just unknown order
  • #771,652
  • Sep 1, 2023 1:25am Sep 1, 2023 1:25am
Long 1.2645
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #771,653
  • Sep 1, 2023 1:31am Sep 1, 2023 1:31am
Quoting tradexyz
{quote} {image}
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this took forever...wwp...
Cam Levels - https://www.livecharts.co.uk/Members...rex_pivots.php
  • #771,654
  • Sep 1, 2023 1:32am Sep 1, 2023 1:32am
Quoting ScalaFX
{quote} closed partial now, loss from yesterday recovered plus some rest protected and now free ride, TP still 2500
good money at that swing, taken 2nd partials and now rest to TP. Hope guys catched some
People don't plan to lose. They lose because they don't plan.
  • #771,655
  • Sep 1, 2023 1:37am Sep 1, 2023 1:37am
Quoting 100MDC
Hello traders, A lot of wisdom in the threads today, with many perspectives that make this a rich learning ground for all involved. To PeterCaleb, your insights about trading not being gambling are spot-on. The essence of trading lies in risk assessment, technical understanding, and psychological management. I love the point about 'movement inside movement' and how people often get too hung up on timeframes. They are just one tool in a much larger toolkit, and I agree that context is king. On the point about real-world events affecting trading decisions,...
People new to this planet may read this and think it sounds "groovy" but its seams appear like a rave review of these sites and what these silly site promote and endorse. I'm not buying. Sorry.

I said real trading not "trading" re: gambling.

I'm not going to word worship or rebutt the rest of what's written there. Not worth it.


Peter
Real Trading is not gambling.
  • #771,656
  • Sep 1, 2023 1:38am Sep 1, 2023 1:38am
Quoting ScalaFX
Started selling GOLD, first 1938, pendings 1940, 42, 44, 46, 48, 50 mid term SL 1960, TP under 1900, lets see
already starting droping some, waiting...
People don't plan to lose. They lose because they don't plan.
  • #771,657
  • Sep 1, 2023 1:45am Sep 1, 2023 1:45am
But I will offer this .....

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Real Trading is not gambling.
  • #771,658
  • Sep 1, 2023 1:45am Sep 1, 2023 1:45am
1.26444 Support hit.
  • #771,659
  • Sep 1, 2023 1:53am Sep 1, 2023 1:53am
Quoting PeterCaleb
{quote} People new to this planet may read this and think it sounds "groovy" but its seams appear like a rave review of these sites and what these silly site promote and endorse. I'm not buying. Sorry. I said real trading not "trading" re: gambling. I'm not going to word worship or rebutt the rest of what's written there. Not worth it. Peter
Is going Long after we get Long signal on the chart gambling to you or? Or when some other indicators suggest that we should Buy or Sell?

Why do you enter the trade? What has to become true for you to open the trade? Simple question! MA's, S&R, S&D, Trendline?
  • #771,660
  • Sep 1, 2023 1:54am Sep 1, 2023 1:54am
Quoting tradexyz
{quote} {image} this took forever...wwp... Cam Levels - https://www.livecharts.co.uk/Members...rex_pivots.php
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