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Cable Update (GBPUSD)

  • #771,861
  • Sep 1, 2023 9:56am Sep 1, 2023 9:56am
OTE 79, ignore the entries that's a robot I'm testing undecided about it
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  • #771,862
  • Sep 1, 2023 9:56am Sep 1, 2023 9:56am
Today we have a classic example of when the news actually don't matter at all.

More people Buying? Yeah... we will push the price down despite the bad news.

That's all there is to it... if majority is Long price is going down and vice versa.

Forex is simple, but it's not because we don't know where the majority of money is going. Then they just go the other way...

This Client Sentiment site isn't bad at all. Very nicely shows where money is going and it really works well. It won't show you where the money is going today, but it's at least showing the momentum.

That's it really about Forex. Us vs Them. Actually, it's Us (trying to join them) vs Us (majority which is consisted of Us).

Quite simple actually, but again, quite complex, because charts suck and there's really no reference point that you can watch at in which you are 90% sure is good enough.

That's why we have indicators, because trading on the chart with nothing on it looks impossible to say the least.

Maybe not impossible for scalpers, but catching 200 pips, 300 pips or more is really an art more than trading, because it's so hard to do that.

Alright...

Link: https://forexclientsentiment.com/instrument/gbp-usd

GBP/USD - 55% Long / 45% Short
  • #771,863
  • Sep 1, 2023 10:04am Sep 1, 2023 10:04am
Quoting TheWraith
Today we have a classic example of when the news actually don't matter at all. More people Buying? Yeah... we will push the price down despite the bad news. That's all there is to it... if majority is Long price is going down and vice versa. Forex is simple, but it's not because we don't know where the majority of money is going. Then they just go the other way... This Client Sentiment site isn't bad at all. Very nicely shows where money is going and it really works well. It won't show you where the money is going today, but it's at least showing...
This is why I ignore fundamentals, I don't understand it enough to put it to good use. I sure as hell don't understand as well as the top dogs, they also have algos that react faster then I do. I also think its a load of rubbish tbh, at least on a intraday timescale. Sure over months and years price will move in the way of the fundamentals but the actual news announcements is just a way for the MM to grab liquidity from us retail scrubs.
  • #771,864
  • Sep 1, 2023 10:10am Sep 1, 2023 10:10am
Quoting Ferna
{quote} So you are from Turkey huh? I love Turkey, the culture, the art and the food from there! One of the best countries in the world to be honest. Had a friend from there a long time ago, he was a genius in physics, Could figure out any atomic configuration within seconds. Also your women are really beautiful and decent.
Nah it's a sh*thole
You have to have an IQ higher than 90 to interact with this user.
  • #771,865
  • Sep 1, 2023 10:12am Sep 1, 2023 10:12am
Quoting Scotteyy
{quote} This is why I ignore fundamentals, I don't understand it enough to put it to good use. I sure as hell don't understand as well as the top dogs, they also have algos that react faster then I do. I also think its a load of rubbish tbh, at least on a intraday timescale. Sure over months and years price will move in the way of the fundamentals but the actual news announcements is just a way for the MM to grab liquidity from us retail scrubs.
Yeah, agree 100%. News are just an opportunities for them to take our money.

Know what? I'm done with fundamental analysis. I'm removing the news from trading completely from this point on. It just clouds my view and I don't need stupid news anyway, because in the end, they don't matter at all.

I am removing everything from my trading from now on expect the indicator that I have. Real life, not real life I don't care anymore what's going on in the world. Got tired of all the nonsense every day anyway and following all these bullshit from Fed to Ukraine.

Done! What I think about NFP? Nothing! Done!
  • #771,866
  • Sep 1, 2023 10:14am Sep 1, 2023 10:14am
Quoting Cgpips
{quote} Navk is a good guy who is willing to share his trading ideas / tips, and help newbie traders. Ever since last Sep. I joint FF , I see his posts are constantly and helpful for trading. No matter he earns extra money or not, I trust and respect him. MFF and other prop firms may have their problems, even affiliate partners wouldn't know. One can recommend things upon good user experiences, but it's not promise they're all good without any issues that might happen to individuals.
you dont know many things about him, arent you?
On ignore list of scammers, deceivers and low IQ individuals. Exclusively
  • #771,867
  • Sep 1, 2023 10:16am Sep 1, 2023 10:16am
Quoting 4XPhuq-R
{quote} I've only started reading the last few pages and really don't know what all this is about, so it is very possible I'm wrong. However, as an outsider looking in then from the posts that I have seen, the conversation has gone like this over and over again: bfx17: Yes/no? navk & dantpm: blah, blah... everything except yes or no... blah. ------------------------------------------------------------------------------- To reiterate, I've really no clue what the yes/no question concerns, but the other guys have 100% avoiding answering it in these...
absolutely
On ignore list of scammers, deceivers and low IQ individuals. Exclusively
  • #771,868
  • Sep 1, 2023 10:16am Sep 1, 2023 10:16am
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wysiwyg...
  • #771,869
  • Sep 1, 2023 10:16am Sep 1, 2023 10:16am
Last trade this week

Long 1.2603 SL 1.2580
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #771,870
  • Sep 1, 2023 10:20am Sep 1, 2023 10:20am
Quoting Ferna
{quote} i don’t believe! Very popular destination for tourists
Drop the sarcasm already mate, enjoy your profits while they last
You have to have an IQ higher than 90 to interact with this user.
  • #771,871
  • Sep 1, 2023 10:31am Sep 1, 2023 10:31am
any buy opportunity here?
  • #771,872
  • Sep 1, 2023 10:32am Sep 1, 2023 10:32am
Whoever walks in integrity walks securely, but he who makes his ways crooked will be found out.
Trade at your own risk.
  • #771,873
  • Sep 1, 2023 10:35am Sep 1, 2023 10:35am
Quoting Scotteyy
{quote} This is why I ignore fundamentals, I don't understand it enough to put it to good use. I sure as hell don't understand as well as the top dogs, they also have algos that react faster then I do. I also think its a load of rubbish tbh, at least on a intraday timescale. Sure over months and years price will move in the way of the fundamentals but the actual news announcements is just a way for the MM to grab liquidity from us retail scrubs.
Scotteyy, ask yourself only one question...do I trade my own interpretation of the number released or price action (what I see)? If you find the answer you will be set for success. Daily ATR(14)=97 pips, the price can move 150% during important data release, can you afford to be in the DD 150 pips before you are right? I agree with your assessment for the long run.
Always trade your own plan...I don't provide trading signals.
  • #771,874
  • Sep 1, 2023 10:38am Sep 1, 2023 10:38am
Quoting silverjazz
any buy opportunity here?
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yes yes yes
  • #771,875
  • Sep 1, 2023 10:39am Sep 1, 2023 10:39am
Quoting Fx3423454
Whoever walks in integrity walks securely, but he who makes his ways crooked will be found out.
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  • #771,876
  • Sep 1, 2023 10:43am Sep 1, 2023 10:43am
This is the Friday effect where unemployment went up but more jobs were added.. stalemate then a typically less important data release and boom the sellers are in.
Insane in the Brain..
  • #771,877
  • Sep 1, 2023 10:48am Sep 1, 2023 10:48am
Quoting BeeTogether
This is the Friday effect where unemployment went up but more jobs were added.. stalemate then a typically less important data release and boom the sellers are in.
Typically 240k jobs are added so the add was below normal. That should be a concern for the FED suggesting the economy has tightened too much, it should defer rate increases and be dollar weakness.
  • #771,878
  • Sep 1, 2023 10:48am Sep 1, 2023 10:48am
Quoting Wavegarrick
{quote} See what you have done now. I am getting PM requests from folks here asking me to trade for them. Please Folks, I do not trade for anyone but myself. I am no signal provider. Well perhaps I am because I post my live trades here. On 2nd thoughts, I think I should start giving cryptic clues only. You must ask robknob and chiko if you want someone to trade for you. I have a business which keeps me very busy and forex is a secondary acitivity only. Thanks for understanding
Great advice Leon...
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  • #771,879
  • Sep 1, 2023 10:51am Sep 1, 2023 10:51am
Quoting Coreg2004
{quote} Scotteyy, ask yourself only one question...do I trade my own interpretation of the number released or price action (what I see)? If you find the answer you will be set for success. Daily ATR(14)=97 pips, the price can move 150% during important data release, can you afford to be in the DD 150 pips before you are right? I agree with your assessment for the long run.
For me I avoid the number completely, I just keep an eye on the news so I know when to expect volatility.

Personally I wont specifically trade news, I just trade according to my strategy, but if I have trades open I'll typically do the following:

If they are close to my TP, exit trade.

Halfway to TP, move stop to BE.

At break-even, decide if I want to gamble that day.

Currently in a loss, just keep it open and see what happens.

I find price action during news very chaotic and difficult to read so in most cases I prefer to err on the side of caution. However, I have been studying major news events to see if there is some way I can make it work. For example, limit orders at key resistance/support levels, I guess the only issue is getting filled when spreads go crazy.
  • #771,880
  • Sep 1, 2023 10:52am Sep 1, 2023 10:52am
Quoting silverjazz
any buy opportunity here?
No. Not even M1 is in an uptrend.
To free Gazans of Hamas, use whatever it takes.
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