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Cable Update (GBPUSD)

  • #778,381
  • Sep 27, 2023 5:41am Sep 27, 2023 5:41am
I want to contribute sth. back to cumminity here, so here is some knowledge for you: (you have to enlarge the picture, sorry)

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Some ask what's going on. What we currently see is very seldom. The reason is because smart money is usually not making such moves. That's why GBP/USD behaves so weird.
  • #778,382
  • Sep 27, 2023 5:42am Sep 27, 2023 5:42am
Quoting knkie
{quote} vigilance with this cause the Markets are NOT normally distributed. just my 2 cents
His post was not about the price distribution. It was about the traders that are deciding when to enter.
To free Gazans of Hamas, use whatever it takes.
  • #778,383
  • Sep 27, 2023 5:44am Sep 27, 2023 5:44am
Quoting JackintheBox
...So what should you do? I closed my long again 1 pip higer. Why? Well, it is roulette currently with a small bias on the long side (so GBP/USD is more likely to go up but it is very tiny edge in my view). That's why we all struggle currently. Contradicting signals. Cheers.
The answer is nothing. Sit on hands.
Some focus on making money, and lose it due to their system being out of synch with current mkt conditions...
Some focus on not losing money, because there is simply not enough momentum to warrant the risk.
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  • #778,384
  • Sep 27, 2023 5:47am Sep 27, 2023 5:47am
Quoting Headland
....5th consecutive bearish-bodied dly candle y/day...chances of a 6th are < 50% on this t/f, on this pairing, - this based on a multi-year large historical sample to this point in time. Doesn't mean to say it can't happen though! ....
Last time there were > (more than) 5 consecutive bearish-bodied dly candles was 3142-2797 move (7.) Before that between 26th Aug-2nd Sept inclusive 2022, (6.)
Trader with an Edge.
  • #778,385
  • Sep 27, 2023 5:49am Sep 27, 2023 5:49am
When I was younger days like that were heaven because you can scalp the hell out of the market. Probably some of you did already today. The reason why it is so seldom is because "big" money is losing money currently. It only happens if two big forces contradicting each other and that is (unfortunately) seldom.

For trend traders and followers of big money that is currently hell on earth.
  • #778,386
  • Sep 27, 2023 5:56am Sep 27, 2023 5:56am
Quoting iusman23
What's wrong with GBP today?
The market has a tendency of ranging when it's near monthly close(25th- 30th) and at the first week of a new month(1st - 4th). This is because most banks are busy analysing log books/records and preparing for a new month start.
Face 'ur fears & tame 'ur greed
  • #778,387
  • Sep 27, 2023 6:02am Sep 27, 2023 6:02am
Quoting Reverso
{quote} Good question. Here is the thing, in trading there is a lot of trade-off decision you need to make. Personally, I have a TP system in place for various situation. 1. If reached target, TP half and let the other half run, until a certain indicator of mine give a signal when price reversed quite a bit, then EA auto TP for me. In this case, sometimes the other half position end up with less profit than the initial TP, sometimes more when price is moving really strongly, the point is, you secured your TP1, and this TP1 is equal to 1 SL's value,...
That is a wonderful answer, thank you so much.
I have toyed with such a TP setup before and I think I will try it again.

Lots of info in Reverso's answer for anyone willing to learn

Thanx !
in wondering about yourself, you forgot what you came here to be part of
  • #778,388
  • Sep 27, 2023 6:07am Sep 27, 2023 6:07am
GU UPDATE --- Liquidity zone if we drop more..... Had to borrow Hotels computer Good Luck all ??
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  • #778,389
  • Sep 27, 2023 6:17am Sep 27, 2023 6:17am
Quoting JereMi256
Scalp Long TP & SL manual. {image}
Added @1.2138
Face 'ur fears & tame 'ur greed
  • #778,390
  • Sep 27, 2023 6:22am Sep 27, 2023 6:22am
Waiting for infamous 1.21, MN S2.
  • #778,391
  • Sep 27, 2023 6:26am Sep 27, 2023 6:26am
Haha Market break lower. The bear is unstoppable
RIP to whoever rush into buying without waiting for confirmation.
With courage, patience, and discipline, success is a matter of time.
  • #778,392
  • Sep 27, 2023 6:30am Sep 27, 2023 6:30am
short setup on the pullback into the Gray Elipse
M5
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in wondering about yourself, you forgot what you came here to be part of
  • #778,393
  • Sep 27, 2023 6:38am Sep 27, 2023 6:38am
Oil prices are going up. That sounds not normal to me amid recessions worries and dollar strengthening. Or is there a lot of oil shortages.
  • #778,394
  • Sep 27, 2023 6:45am Sep 27, 2023 6:45am
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  • #778,395
  • Sep 27, 2023 6:46am Sep 27, 2023 6:46am
_______________ https://www.forexfactory.com/thread/...d-gold?page=23
Don’t focus on making $$$, focus on protecting what you have.
  • #778,396
  • Sep 27, 2023 6:47am Sep 27, 2023 6:47am
Quoting Eren10
Oil prices are going up. That sounds not normal to me amid recessions worries and dollar strengthening. Or is there a lot of oil shortages.
Russia banned exports.
Saudi Arabia is cutting production.
  • #778,397
  • Sep 27, 2023 6:49am Sep 27, 2023 6:49am
Quoting JereMi256
{quote} Added @1.2138
Longs locked in,

SL set
TP pending...
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Face 'ur fears & tame 'ur greed
  • #778,398
  • Sep 27, 2023 6:49am Sep 27, 2023 6:49am
Quoting JereMi256
{quote} Added @1.2138
Nice catch Lets hope it goes
  • #778,399
  • Sep 27, 2023 6:51am Sep 27, 2023 6:51am
USD/JPY was at 149.25.

Suzuki:

USD/JPY H1 to confirm Long now.
  • #778,400
  • Sep 27, 2023 6:52am Sep 27, 2023 6:52am
Quoting TheWraith
{quote} Russia banned exports. Saudi Arabia is cutting production.

Russia banned gasoline products not oil as I understood. I will search later to a news about that.
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