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Cable Update (GBPUSD)

  • #788,261
  • Nov 6, 2023 9:46am Nov 6, 2023 9:46am
Sometimes it feels like market scare of round figure.

if you set Tap to round figure it will remain 1pips to smash and then it will start dancing or jump back.
  • #788,262
  • Nov 6, 2023 9:50am Nov 6, 2023 9:50am
Quoting Elysion
{quote} I have never taken a 100 pips dd. Even without SL, max I went was 40 pips. Price is way to far to BE, might as well give it (my opinion)

"Dumping" is an art
haha
in wondering about yourself, you forgot what you came here to be part of
  • #788,263
  • Nov 6, 2023 9:52am Nov 6, 2023 9:52am
the key frame for me is momentarily M15.
Resistance is at 2390-2394
H4 is about to close

so lets see if Price breaks those levels or bounces back down.
Then i will know what to do.
in wondering about yourself, you forgot what you came here to be part of
  • #788,264
  • Nov 6, 2023 9:53am Nov 6, 2023 9:53am
good morning gentlemen

this is one of my many posts tht makes me feel foolish since everyone in the room knows this

my first chart shows a chart of what i was trading which made me endure weeks of heckling from a member in the peanut gallery whos quiet now for me being boolish the past month inspite and because of his 3 black crows

i wrote text on the charts so wouldnt have to explain much in print right now since i cant type

the 2nd chart shows last week candle closing above 6 previous weeks and into the black crows giving a another buy signal besides the wyckoff spring buy signals at the lows ...ill admit i was just as surprised by friday as everyone else
...ive been boolish but didnt expect such forcefull short covering or dollar collapse even tho i knew it was coming just more moderately LOL


so if this week closes above that red line even by a pip will signal a continuation up to my hier target may even tag the 3200 possibly
which i doubt since monthly and quarterly is bearish


i took this opportunity to make myself look foolish since everybody knows TA so i can have a record i can brag about near christmas as GU hits my targets LOL


you can see the future gentlemen if you pull your noses out of the 5 min charts LOL
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short trump and go long the deepstate
  • #788,265
  • Nov 6, 2023 10:01am Nov 6, 2023 10:01am
Quoting kidkh
@Navk I would like to learn more about your strategies. Thx
watch my posts.
Intraday only.
  • #788,266
  • Nov 6, 2023 10:02am Nov 6, 2023 10:02am
....there will be some looking at the 2 areas circled should price reach either of them in any deeper downside pullback of the move up from 2038, to get back in long/buy the dip. As WG mentioned in his post - the Wkly Pivot runs thru the top of the lower one.

4hr below
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Trader with an Edge.
  • #788,267
  • Nov 6, 2023 10:04am Nov 6, 2023 10:04am
For 50 $
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yes yes yes
  • #788,268
  • Nov 6, 2023 10:07am Nov 6, 2023 10:07am
...you can see that aforementioned fib (76.4% @ current dly hi on dly chart below. A reminder: there is a (wide) prev 4hr sw lo zone = prev supp = pot sbr that runs 2440-76 and includes Mthly R2 @ the top of it with Wkly R1 just above it, with 2 x fibs, 1st 2578 then 2nd 2589. Dly R1 is nearer the bottom of it @/around 2450 with 38.2% 3142-2038 @ 2459. The bottom of this zone is coexistent with a prev 1hr/4hr sw hi zone (ie 1st test and hold of the pot sbr) that extends to 2447, = prev res = pot res.

dly below
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Trader with an Edge.
  • #788,269
  • Nov 6, 2023 10:07am Nov 6, 2023 10:07am
price breaking M15 Resistance
Also H4 pivot bar level

this is M5
Waiting for a pullback to go LONG
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in wondering about yourself, you forgot what you came here to be part of
  • #788,270
  • Nov 6, 2023 10:09am Nov 6, 2023 10:09am
...3rd upside obstacle now for the bulls?

1hr below
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Trader with an Edge.
  • #788,271
  • Nov 6, 2023 10:22am Nov 6, 2023 10:22am
Quoting knkie
the key frame for me is momentarily M15. Resistance is at 2390-2394 H4 is about to close so lets see if Price breaks those levels or bounces back down. Then i will know what to do.
For M15, I expect the swing down to just be a pullback, then a return up.
To free Gazans of Hamas, use whatever it takes.
  • #788,272
  • Nov 6, 2023 10:24am Nov 6, 2023 10:24am
Quoting navk
Use 200 setting. For any 1 minute TF Use 100 setting for 5 min TF Use 50 setting for 15 min tf I prefer 1 min tf. Quick money {file}
It seem to me that your indicator does repaint.
I'm wrong ?
  • #788,273
  • Nov 6, 2023 10:48am Nov 6, 2023 10:48am
Don't quite understand the immediate bounce.
FML.
Exhausted
  • #788,274
  • Nov 6, 2023 10:59am Nov 6, 2023 10:59am
Quoting Moty
{quote} Yes , I can't let go
cut the losses when they are small.. once they become monsters our mind dont see the point of closing it.
  • #788,275
  • Nov 6, 2023 11:07am Nov 6, 2023 11:07am
Quoting montygoldy
{quote} absolutely wrong brother if u have an edge, system n trading plan any timeframe will work.
Dude, never said that lower time frames don't work, but the always main question "at what expense"? If on expense of your health, time, energy and...then money ain't worth it at all!!
My technical analysis leading trades depend on Daily/Weekly/Monthly Chart
  • #788,276
  • Nov 6, 2023 11:07am Nov 6, 2023 11:07am
head and shoulders
No emotions
  • #788,277
  • Nov 6, 2023 11:07am Nov 6, 2023 11:07am
Quoting Elysion
Don't quite understand the immediate bounce. FML.
H2 is starting down. This means that every TF below H2 was going down. At some time after H2 starts down, M1 will make a rally to it and then return down. Depending on how strong the M1 rally is, other TFs might join the rally. And every TF that rallies must then make the return down. So, this bounce up that you see is the rallies reaching M30 now. And of course, when the rally ends, we get the return down.
To free Gazans of Hamas, use whatever it takes.
  • #788,278
  • Nov 6, 2023 11:11am Nov 6, 2023 11:11am
Quoting donfriday
{quote} the time frame was created for your schedules not that the time frame make traders loss money. first you need to ask yourself what type of trader are you.... i trade of 15min and 4hrs chart 3 hrs , 1hr nap and 3hrs then i closed..
Most like 90+% of traders who loose are trading on low time frames. It's never an argument or even a doubt that higher time frames are almost stress free. However, whatever is working for you and if you're happy with that kind of life, stressful or not then your choice.
My technical analysis leading trades depend on Daily/Weekly/Monthly Chart
  • #788,279
  • Nov 6, 2023 11:12am Nov 6, 2023 11:12am
Quoting greenpips4
{quote} cut the losses when they are small.. once they become monsters our mind dont see the point of closing it.
Lol, this sounds funny but true....
THE TRUTH IS SIMPLE,ACCEPTING THE SIMPLICITY OF THE TRUTH IS WHAT IS HARD
  • #788,280
  • Nov 6, 2023 11:14am Nov 6, 2023 11:14am
Quoting DrDave
{quote} H2 is starting down. This means that every TF below H2 was going down. At some time after H2 starts down, M1 will make a rally to it and then return down. Depending on how strong the M1 rally is, other TFs might join the rally. And every TF that rallies must then make the return down. So, this bounce up that you see is the rallies reaching M30 now. And of course, when the rally ends, we get the return down.
And take note that just as the H2 starting down requires the TFs below it to rally and return down, when a smaller TF starts its rally, that means that EVERY TF below that rally time frame was also going up. And exactly the same pattern unfolds: every TF below the rally TF goes into a pullback and a return up.

So, with this fractal and recursive behavior, you should be able to see why "the market" has been found to spend about 80% of its time in retracement/consolidation and 20% trending.
To free Gazans of Hamas, use whatever it takes.
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