Cable Update (GBPUSD)

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Little Pony Lot on Long $JPY 151.22 tp 152

maybe someone mentioned htis already, but apparently the projection for
ADP Non-Farm Employment Change is 149K from 89K
that would be a 67% jump
thats quite gigantic

at 115 pm euro time

These projections tend to be in the 200 range. In any event the results are all over the map and aren't related to the Friday data! This red flag news event is a great example of the market price constantly ignoring the data result and doing what it wants!

beware, m##y can charge hammer anytime.
Good luck

yeah sl super tight

GOT IT
THANX

[quote=Pat Chiko;14638463]{quote} No one provides formal instruction in Forex trading, except for paid classes, whose instructors' ability to trade in real time is questionable, given that most of their charts are presented in hindsight. Forex need to be learned. Most people want to hear about the silver bullet theory. The fact of the matter is this: no human being alive on planet earth can trade the market consistently and accurately without a CLEAR understanding of Timing, Direction, Magnitude and Probability. Trading without this understanding is nothing more than guessing. And, you don't want to guess with your hard capital. My opinion, don't get caught with small moves, just understand the big picture and trade accordingly. Try to trade from H4 or H1 not lower. If your trading strategy goes against the big picture, you are in serious trouble. From Van Tharps's book "Trade Your Way to Financial Freedom" ; The emphasis has to be on establishing a proven system that dictates when to get in, when to get out, position sizing and risk management. The profits will come without needing to understand every single move the market makes. Forex isn't an overnight success story, a lot of people want it to be. I wanted it to be, but reality it took me a lot of learning a lot of years and a lot of tears lol. You stick with it, you tackle it and wrangle with it, and always keep your eye on the goal. I am no guru here and this is straight out of Van Tharp's work. It truly is an eye opener. All great legendary traders of this world are mechanical and have no need to understand much more than their own systems and how they interact with the market. The market itself will do what it will do. And last, you've to start posting "real time" chart and trades. There are good people here , who will help you to give constructive comment on your trades. That's how you learn from this forum. All the best and study the market well. Hope that I have been helpful. PAT Chiko[/quote

nice ...
However you need to know what kind of trader you want to be ?
which currecy pairs ? day trader with in and out? Target trader with lond term position ? and and and .....

Dx mf , you shell not pass 106.750

That's what we thought last week and data beat all forecasts. I will no longer hold my breath for data. They are clearly somehow not a clear reflection of facts on ground.

We will see an explosion to either side. GBPUSD should have fallen with the last US expectations but it didn't because short term data is not a reflection on exactly how the market will turn out. It is heavily manipulated against retail. Overall on a not too very long time frame we should be visiting the downward slope towards 1.18.

Stay safe

...Y/day's dly candle - non-descript/spinning top? ...tighter consolidation so far today on 1hr/4hr after a test of the Asian hi then Asian lo in early London and both held. 50% of y/day's hi-lo is where the current dly/Asian hi is. the Asian/current dly lo is the 1st test of (top of) the prev (wide) 1hr/minor 4hr sw lo zone that extends down to y/day's lo, = prev supp = pot supp.

1hr below

Please can you give me the book?

...you can see on chart below how price @ y/day's 2119 lo just touched top of that prev 4hr desc equidistant channel after the 4th upside break out and pullback.

4hr below

1.20967 / 1.20688

Yes, possible.. Daily support2>1.2075

uj next 161.8 %

closed 35pips

H4 is clear for me...news or not 2050 is possible