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Cable Update (GBPUSD)

  • #772,781
  • Sep 5, 2023 5:03pm Sep 5, 2023 5:03pm
Here's my seasonal chart, updated for September, if anyone is interested.

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It looks like a good month, followed by a rough October.
  • #772,782
  • Sep 5, 2023 5:06pm Sep 5, 2023 5:06pm
Quoting Nordling
{quote} I agree, this is why i am looking for an opportunity to short the dollar
My suggestion is to consider what the data is telling you BUT it is more important to react to the direction the market is moving than it is to react to the direction that the data is suggesting BECAUSE of how the market reacts (or doesn't react to data)!
  • #772,783
  • Sep 5, 2023 5:08pm Sep 5, 2023 5:08pm
Quoting Czesc6978
Good evening everyone one i need to ask something. Can someone tell me where to find this kind of indicator. It shows full volume details. Any idea. {image}
You need a data subscription. There are several services available.
  • #772,784
  • Sep 5, 2023 5:11pm Sep 5, 2023 5:11pm
Quoting Ferna
{quote} Are you able to do that yourself without assistance of Google?
of course, you dont, thats why I done it
People don't plan to lose. They lose because they don't plan.
  • #772,785
  • Sep 5, 2023 5:13pm Sep 5, 2023 5:13pm
Quoting dantpm
{quote} You need a data subscription. There are several services available.
One that I know about is quanttower free with amp futures as is trading view and sierra charts among many other platforms that should give you quality volume im sure lots of people could recommend a good one I've been told sierra or quant are good
  • #772,786
  • Sep 5, 2023 5:15pm Sep 5, 2023 5:15pm
Quoting ScalaFX
{quote}of course, you dont, thats why I done it
again don't know what Ferna said but I'm sure your reply is funny ...
  • #772,787
  • Sep 5, 2023 5:16pm Sep 5, 2023 5:16pm
Quoting forexn00b81
{quote} One that I know about is quanttower free with amp futures as is trading view and sierra charts among many other platforms that should give you quality volume im sure lots of people could recommend a good one I've been told sierra or quant are good
Free or included with the subscription to other services?
  • #772,788
  • Sep 5, 2023 5:40pm Sep 5, 2023 5:40pm
Quoting dantpm
{quote} Free or included with the subscription to other services?
Not a broker recommendation at all but they seem well known and us based and there are several free platforms like quanttower complete pkg is def free according to the site I don't know the fine print tho
  • #772,789
  • Sep 5, 2023 6:25pm Sep 5, 2023 6:25pm
Quoting dantpm
{quote} My suggestion is to consider what the data is telling you BUT it is more important to react to the direction the market is moving than it is to react to the direction that the data is suggesting BECAUSE of how the market reacts (or doesn't react to data)!
You are totally right. I watched NZDUSD react 200 pips to Caixin Manufacturing PMI few months ago, then the next month, NZD didn't give a damn about Caixin PMI. You are a wise man. Fundamentals need to be confirmed by the price action. This week I was right, pause bets are increased, yet i still lost money Being right does not equal to making money
You have to have an IQ higher than 90 to interact with this user.
  • #772,790
  • Sep 5, 2023 6:40pm Sep 5, 2023 6:40pm
Quoting TheWraith
{quote} I think 2% rule depends. With smaller size account, risking more isn't out of the question, because the account is small and earning enough money for it to matter can only be achieved if trader risks more than the traditional 2%. I'm not talking 10% or 20% on one trade, but 4% to 5% is necessity for smaller accounts in my opinion for it to be worth it. If average pay in your country is 1000 something, whatever, let's say USD and you have 10 000$ on your account, then risking 2% per trade is optimal. You'll have at least 15-20 trades a month...
Yes that can be one way to look at it.

Now here's another way to examine it .....

Using a very / small account size FORCES YOU to pay attention. End of story. If a person chooses to use a blind mechanical approach then they will not learn the other lessons necessary. End of story. So what you risk, realistically, is never only about the figures. A person can have millions but be dumb as nails and lose it all. Why? Won't learn the simple lessons.

Watch a chart for long enough and notice real things beyond opinions. What's the difference? Look at other instruments and see if the same thing occurs. Look at market sources you'd never normally use. Note the differences and similarities.

To me, practice account or not, the combination of small account size and high/low leverage should be experienced first hand. And make notes on the entire experience. Making notes is very important.

Some situations call for less leverage used. Sometimes more leverage is just isn't necessary.

Earning. Earning. Earning. Collecting. Banking. Profiting. it all becomes rather funny after a while.

Q - How many traders can you fit inside a movie theatre? 7.1 DD DTS !!! Hihihihihihihihii.

As I've said, trading is not about money. Anyone who says that to you has a hell-of-a lot to learn.

So having "more" doesn't make anything "easier", it merely screws with one's perceptions. Arriving at a plan that does NOT perceive money as the ending result, is the better way to go, in my impression.


Peter
Real Trading is not gambling.
  • #772,791
  • Sep 5, 2023 6:44pm Sep 5, 2023 6:44pm
Quoting Nordling
{quote} You are totally right. I watched NZDUSD react 200 pips to Caixin Manufacturing PMI few months ago, then the next month, NZD didn't give a damn about Caixin PMI. You are a wise man. Fundamentals need to be confirmed by the price action. This week I was right, pause bets are increased, yet i still lost money Being right does not equal to making money
what you're mentioning here is not a fundamental. Sorry. Manufacturing sits on a different layer. Q - what comes/happens before manufacturing? Being right is an incidental thing to looking at the full situation.

Peter
Real Trading is not gambling.
  • #772,792
  • Sep 5, 2023 6:51pm Sep 5, 2023 6:51pm
Quoting dantpm
{quote} You may want to visit what these economic indicators are telling you. CPI - is the economy growing or contracting and by how much <relied on by the FED> GDP - is the economy growing or contracting and by how much PMI - is the economy growing or contracting and by how much PCE - is the economy growing or contracting and by how much Unemployment - suggestive of economic strength or weakness but not as good as employment Employment (NFP in the US) better indicator of economic strength or weakness <relied on by the FED> Other than the two indicated...
these are indicative and are not fundamentals. Incorrect layering. Funny how people like you speak of this stuff but don't understand that. They're not real fundamentals. "it reacts as it wants" ...... so you're just guessing then.
Real Trading is not gambling.
  • #772,793
  • Sep 5, 2023 7:03pm Sep 5, 2023 7:03pm
Quoting PeterCaleb
{quote} what you're mentioning here is not a fundamental. Sorry. Manufacturing sits on a different layer. Q - what comes/happens before manufacturing? Being right is an incidental thing to looking at the full situation. Peter
I will ask you the same question since i don't know. What comes before manufacturing?
You have to have an IQ higher than 90 to interact with this user.
  • #772,794
  • Sep 5, 2023 7:05pm Sep 5, 2023 7:05pm
Quoting TheWraith
GBP/USD Based on the Hourly TF, while we still don't have a signal to go Long, candles are closing just right for Long to become a possibility tommorow. We'll see before Franky what the situation will look like. By looking at the Weekly TF, because of today, the Weekly candle dropped below the Support at 1.256. However, the price has returned above the Support as this day nears its end. Weekly would have to close below this Support before we can start talking about lower levels like 1.243 and 1.211. Still clueless about the real direction on GBP/USD....
H1 confirmed Long. Waiting for the clues on H4 now.
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  • #772,795
  • Sep 5, 2023 7:17pm Sep 5, 2023 7:17pm
Quoting Zebi
{quote} this quote is from gold thread where i made the same comments a month ago ok gentlemen...i know im stretching the meaning of that word by using it in here but there a few here are 3 charts...all of usdjpy. 2 are daily and one weekly. i marked the dates where BOJ last intervened in 2022 Last year, Japan's Finance Ministry intervened with roughly $68 billion to prop up the yen on three separate days: Sept. 22, Oct. 21 and Oct. 24 — as the...
heres a blast from the past chart from a week ago...i wouldnt short UJ till it got to 152

its up over 100 pips from this post
short trump and go long the deepstate
  • #772,796
  • Sep 5, 2023 7:23pm Sep 5, 2023 7:23pm
GBP/USD Long
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  • #772,797
  • Edited Sep 6, 2023 2:54am Sep 5, 2023 7:23pm | Edited Sep 6, 2023 2:54am
If buys are weak it will probably test level fibonacci 0.. Strong Support
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  • #772,798
  • Sep 5, 2023 7:24pm Sep 5, 2023 7:24pm
GBP/NZD Short
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  • #772,799
  • Sep 5, 2023 7:39pm Sep 5, 2023 7:39pm
Quoting TheWraith
{quote} CHF/JPY {image}
Expect it hiting 164.30 Next. Then wide ranging
POSTMASTER
  • #772,800
  • Sep 5, 2023 7:42pm Sep 5, 2023 7:42pm
Probably a bad spot to buy there

1.2450 incoming
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