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GBP/USD M5 Trading

  • #1,581
  • Aug 24, 2023 1:01am Aug 24, 2023 1:01am
Quoting stevepatt
{quote} GBP/USD M15 Observations 2 {image}
GBP/USD Observations 3
Attached Image (click to enlarge)
Click to Enlarge Name: 24th Aug 23 M15 Observations GBP_USD Mini_20230824_06.56.png Size: 40 KB
  • #1,582
  • Aug 24, 2023 1:50am Aug 24, 2023 1:50am
Quoting stevepatt
{quote} GBP/USD Observations 3 {image}
GBP/USD Long Trade
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 24th Aug 23 M15 Long Trade GBP_USD Mini_20230824_07.29.png Size: 42 KB
Click to Enlarge Name: 24th Aug 23 M1 Long Trade GBP_USD Mini_20230824_07.32.png Size: 34 KB
  • #1,583
  • Aug 24, 2023 8:46am Aug 24, 2023 8:46am
Quoting stevepatt
{quote} GBP/USD Long Trade {image} {image}

GBP/USD Long Trade Result (-10) Pips

I see everyone has spotted how bad this Long Trade was

But even this terrible Trade gave me an Opportunitie to get out at BE

Pity I had to leave for work before getting the chance

I find, probably 9 times out of 10, if Price doesn't do what you expect look to Exit as close to BE as possible
Attached Image (click to enlarge)
Click to Enlarge Name: 24th Aug 23 Long Trade Result GBP_USD Mini_20230824_14.30.png Size: 52 KB
  • #1,584
  • Aug 26, 2023 9:04am Aug 26, 2023 9:04am
Check out this video
Inserted Video


Without Correct Structure Reading Trading is Impossible....

Check out Antons Videos they are some of the best I have watched
  • #1,585
  • Aug 26, 2023 10:50am Aug 26, 2023 10:50am
Quoting stevepatt
Check out this video https://www.youtube.com/watch?v=cqrgU52YxDY Without Correct Structure Reading Trading is Impossible.... Check out Antons Videos they are some of the best I have watched

Here is another Video, well worth watching
Inserted Video


I'm in no way affliated with Anton and I am not a member of his Mentor Group

There is more than enough information within his FREE Videos to become a successful Trader

People just need the incentive to INVEST their TIME....
  • #1,586
  • Aug 26, 2023 1:06pm Aug 26, 2023 1:06pm
Quoting stevepatt
{quote} Here is another Video, well worth watching https://www.youtube.com/watch?v=-6NdSayQlgI I'm in no way affliated with Anton and I am not a member of his Mentor Group There is more than enough information within his FREE Videos to become a successful Trader People just need the incentive to INVEST their TIME....
I got as far as this point, where he describes the 'bearish' market, and how it is far more likely that the market will go down, than go up:

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 129 KB


As soon as I seen the chart, without knowing the price action (I never look at GBPCAD), my guess was that price was going to go up, simply based on the Brian Beamish trade, which was a short (an M in a 'reload zone' 61.8% - 78.6% retrace). Since Brian always loses, my instant reaction was "NO DUDE, that is a LONG".....

.....and I was right.

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 104 KB


Notice how the short trade was 'easy to frame' on the weekly chart. i.e. a Brian Beamish 61.8% retrace back into the M, and notice how Brian's 61.8% entry level, after a run of the tight stops behind the M, became the support and ideal entry point for the long trade, which of course most retailers wouldn't want, because of the 'bear divergences', and thus the long trade was actually very hard to trade, with most traders who are schooled in classical TA methods, never able to frame a trade their 'trading rules' would allow them to enter into.

Despite early paying lip service towards doing the opposite of retail dumb money, his read on this chart is doing precisely the same thing as all retail and dumb money is taught to do, and which the market intentionally lures them into doing......b4 fkn them right over.

It is almost as though the trading masses (not just retailers) have been all tricked into learning how to do the exact opposite things of what will make them money in the long run trading the markets, and this guy whose video apparently 'was well worth a watch', seems to be no exception.
  • #1,587
  • Aug 26, 2023 2:15pm Aug 26, 2023 2:15pm
Quoting GusParker
{quote} I got as far as this point, where he describes the 'bearish' market, and how it is far more likely that the market will go down, than go up: {image} As soon as I seen the chart, without knowing the price action (I never look at GBPCAD), my guess was that price was going to go up, simply based on the Brian Beamish trade, which was a short (an M in a 'reload zone' 61.8% - 78.6% retrace). Since Brian always loses, my instant reaction was "NO DUDE, that is a LONG"..... .....and I was right. {image} Notice how the short trade was 'easy to frame'...
Hi Gus,

I have no idea who Brian Beamish is, if you don't think MentFX knows what he is talking about I suggest you check out his other videos before drawing conclusions.

If you watch all the video you will see he makes money going Short.
  • #1,588
  • Aug 26, 2023 2:44pm Aug 26, 2023 2:44pm
Quoting stevepatt
{quote} Hi Gus, I have no idea who Brian Beamish is,
I would advise that you keep things that way.

Quoting stevepatt
{quote} if you don't think MentFX knows what he is talking about I suggest you check out his other videos before drawing conclusions. If you watch all the video you will see he makes money going Short.
Of course, every trader is going to misread the market and sometimes misread it often. Doesn't mean they can't make money.

However, there are a lot of traders out there putting their material into the public domain, inviting the wannabee's to sink their time, effort, and money into being indoctrinated in the traders way of thinking, only for the end result to be being lead right up the garden path for a good old wild goose chase.

It just struck me how the very first bit of analysis that he done, was right out of Tardeing 101A - How We Think the Markets Should Behave (even though they actually don't).
  • #1,589
  • Aug 26, 2023 4:33pm Aug 26, 2023 4:33pm
Quoting GusParker
{quote} I would advise that you keep things that way. {quote} Of course, every trader is going to misread the market and sometimes misread it often. Doesn't mean they can't make money. However, there are a lot of traders out there putting their material into the public domain, inviting the wannabee's to sink their time, effort, and money into being indoctrinated in the traders way of thinking, only for the end result to be being lead right up the garden path for a good old wild goose chase. It just struck me how the very first bit of analysis that...
I can relate to his videos because it is close to the way I Trade.

There is a lot more material, out there, that will lead you down the wrong path

If you don't see any benefit from watchiing them then I suggest you continue on your own path to Trading success....
  • #1,590
  • Aug 28, 2023 1:28am Aug 28, 2023 1:28am
GBP/USD Long Trade
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 28th Aug 23 M15 Long Trade GBP_USD Mini_20230828_07.18.png Size: 35 KB
Click to Enlarge Name: 28th Aug 23 M1 Long Trade GBP_USD Mini_20230828_07.23.png Size: 40 KB
  • #1,591
  • Aug 30, 2023 5:59am Aug 30, 2023 5:59am
@stevepatt,i came across your last post on the thread 'going for it' so i pulled up a few charts,VERY interesting indeed :-], i didnt like the videos from Anton though,i got annoyed by him trying to plug his'private mentor group' every minute,anyway thank you for posting im going to look into more of your postings !
  • #1,592
  • Sep 4, 2023 12:12pm Sep 4, 2023 12:12pm
GBP/USD M15 Observations

How well can we Trade, Long Term, without being able to READ PRICE?
Attached Image (click to enlarge)
Click to Enlarge Name: 4th Sept 23 M15 Observations GBP_USD Mini_20230904_17.50.png Size: 41 KB
  • #1,593
  • Sep 4, 2023 12:26pm Sep 4, 2023 12:26pm
Quoting stevepatt
GBP/USD M15 Observations How well can we Trade, Long Term, without being able to READ PRICE? {image}

GBP/USD M15 Further Observations

For anyone wanting to learn to Trade these are the Observations that need to be made!!
Attached Image (click to enlarge)
Click to Enlarge Name: 4th Sept 23 M15 Observations 2 GBP_USD Mini_20230904_18.20.png Size: 29 KB
  • #1,594
  • Sep 4, 2023 12:27pm Sep 4, 2023 12:27pm
Quoting stevepatt
GBP/USD M15 Observations How well can we Trade, Long Term, without being able to READ PRICE? {image}
great post steve, thank you!
without patience how can you be a trader?
  • #1,595
  • Sep 4, 2023 1:04pm Sep 4, 2023 1:04pm
Quoting stevepatt
{quote} GBP/USD M15 Further Observations For anyone wanting to learn to Trade these are the Observations that need to be made!! {image}

GBP/USD M15 Further Observations

Anybody who has followed my previous Posts will know I don't like to Predict Price Long Term

But it is important to be able to Read Price within a relative Short Period of Time
Attached Image (click to enlarge)
Click to Enlarge Name: 4th Sept 23 M15 Observations 3 GBP_USD Mini_20230904_18.49.png Size: 34 KB
  • #1,596
  • Sep 5, 2023 10:11am Sep 5, 2023 10:11am
Quoting stevepatt
{quote} GBP/USD M15 Further Observations Anybody who has followed my previous Posts will know I don't like to Predict Price Long Term But it is important to be able to Read Price within a relative Short Period of Time {image}

GBP/USD M15 Observations

You see how Price got Held between the Level of Selling and Buying until there were no more Buyers to Hold Price Up......
Attached Image (click to enlarge)
Click to Enlarge Name: 5th Sept 23 M15 Observations GBP_USD Mini_20230905_15.52.png Size: 59 KB
  • #1,597
  • Sep 5, 2023 10:44am Sep 5, 2023 10:44am
Quoting stevepatt
{quote} GBP/USD M15 Observations You see how Price got Held between the Level of Selling and Buying until there were no more Buyers to Hold Price Up...... {image}
GBP/USD M1 Observations

Pity I wasn't looking to Enter......
Attached Image (click to enlarge)
Click to Enlarge Name: 5th Sept 23 M1 Observations GBP_USD Mini_20230905_16.21.png Size: 42 KB
  • #1,598
  • Sep 5, 2023 4:19pm Sep 5, 2023 4:19pm
Quoting stevepatt
{quote} gbp/usd m1 observations pity i wasn't looking to enter...... {image}
gbp/usd m15 observations
Attached Image (click to enlarge)
Click to Enlarge Name: 5th Sept 23 M15 Observations GBP_USD Mini_20230905_22.15.png Size: 39 KB
  • #1,599
  • Sep 6, 2023 1:21am Sep 6, 2023 1:21am
Quoting stevepatt
{quote} gbp/usd m15 observations {image}

GBP/USD Long Trade
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 6th Sept 23 M15 Long Trade GBP_USD Mini_20230906_07.13.png Size: 41 KB
Click to Enlarge Name: 6th Sept 23 M1 Long Trade GBP_USD Mini_20230906_07.17.png Size: 43 KB
  • #1,600
  • Sep 6, 2023 10:16am Sep 6, 2023 10:16am
Quoting stevepatt
{quote} GBP/USD Long Trade {image} {image}
GBP/USD Long Trade Result (-10) Pips

God don't you just love Trading......

Price Reversed on me but gave me a Perfect Oportunity to go Short, if only I had been around to take it

I might not get the Direction right every time but with Trading Shorter Time Frames it can be quickly Corrected
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 6th Sept 23 Long Trade Result GBP_USD Mini_20230906_15.50.png Size: 35 KB
Click to Enlarge Name: 6th Sept 23 M1Long Trade Result GBP_USD Mini_20230906_16.01.png Size: 38 KB
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