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Cable Update (GBPUSD)

  • #788,621
  • Nov 7, 2023 1:06pm Nov 7, 2023 1:06pm
Quoting Zebi
{quote} ill place an sl when price gets above 2300 cause shouldnt drop anymore since the dollar reached that candle midpoint {image} {image} {image}
Actually,
at this moment, all my levels on M!5, M30, H! and H4 are converging at 2302
So we are in synchronicity.


The only question is if it breaks or rejects.
in wondering about yourself, you forgot what you came here to be part of
  • #788,622
  • Nov 7, 2023 1:08pm Nov 7, 2023 1:08pm
Quoting donfriday
{quote} what is a definition of gambler ?
according to Chatgpt:

In the context of foreign exchange (forex) trading, a gambler is someone who engages in speculative trading activities without a well-thought-out strategy, discipline, or risk management. Forex trading involves buying and selling currencies in the foreign exchange market with the goal of profiting from changes in exchange rates. However, when traders approach forex trading like a gambler, they may take excessive risks, rely on luck rather than analysis, and make impulsive decisions.
A forex gambler is typically characterized by:

  1. Lack of a Trading Plan: They may not have a clear and structured trading plan, including entry and exit strategies, risk management rules, and position sizing.
  2. Emotional Trading: Gamblers in forex often let their emotions, such as fear and greed, drive their trading decisions rather than basing them on objective analysis.
  3. High-Risk Trades: They may take excessively high leverage, make large bets without proper risk management, and often engage in speculative or risky trading strategies.
  4. Lack of Research and Analysis: Instead of conducting thorough research and analysis of the forex market, they may rely on hunches or follow tips from others without a deep understanding of the market dynamics.
  5. Impulsiveness: Forex gamblers might make impulsive trades without considering the potential consequences or the fundamental and technical factors affecting currency pairs.

in wondering about yourself, you forgot what you came here to be part of
  • #788,623
  • Nov 7, 2023 1:09pm Nov 7, 2023 1:09pm
Quoting knkie
{quote} idk Zebi, that black line may be turning into Resistance now instead of support where you expected a wyckoff jump. this price action isnt really following any TA rules, it seems very panicky. Hope you can recover those 40 pips. Are you hedging?

heres an hourly and 4H charts with that weekly swing low at 2308 from may 2023 ...


so that wyckoff "spring" mihght happen today with a daily close over 2308

guess price decided to test that big green candles midpoint so we'll see if the spring happens today

where everybody sees bearish trend on small timeframes i see a boolish reversal on the hier ones LOL
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short trump and go long the deepstate
  • #788,624
  • Nov 7, 2023 1:10pm Nov 7, 2023 1:10pm
Quoting DrDave
{quote} Look carefully! something to strive for: COMMISSIONS that he pays are more than many here bank in a month of trading. {image}
Dr Dave. I know your also one of those who makes a lot of money here but will pretend like you don't. Cheers.
More pips to all of us here in this forum as we stay together in peace.
THE TRUTH IS SIMPLE,ACCEPTING THE SIMPLICITY OF THE TRUTH IS WHAT IS HARD
  • #788,625
  • Nov 7, 2023 1:13pm Nov 7, 2023 1:13pm
Quoting Zebi
{quote} heres an hourly and 4H charts with that weekly swing low at 2308 from may 2023 ... so that wyckoff "spring" mihght happen today with a close over 2803 guess price decided to test that big green candles midpoint so we'll see if the spring happens today where everybody sees bearish trend on small timeframes i see a boolish reversal on the hier ones LOL {image} {image}
I think you mean 2308
we are close
2302 on my screen
which M5 is fighting as we speak.
in wondering about yourself, you forgot what you came here to be part of
  • #788,626
  • Nov 7, 2023 1:19pm Nov 7, 2023 1:19pm
Quoting donfriday
{quote} what is a definition of gambler ?
I see a lot of talk about gambling. Not specifically aimed at you DF but here is my assessment. A gamble is when I do not know or can predict the outcome of a decision. When I bought my bussiness 20 years ago I never knew the outcome and the future my business would hold, I did it on an educated guess but nevertheless it was a gamble. When you buy a house it is a gamble. When you start a new job it is a gamble. All in all life is a gamble and trading is no different. We are all gamblers whether we like it or not. It all boils down to one thing and that is taking and educated risk or educated gamble, same thing.
Cheers.
Trade to trade another day
  • #788,627
  • Nov 7, 2023 1:21pm Nov 7, 2023 1:21pm
Wtf.... all backwards now? I almost tend to short at 1.2303. - I will not but it is really crazy. Who is pushing that market down and now complete up again?? Hope Dr. Dave joint when I exited my longs at 1.2270 and 72.
  • #788,628
  • Nov 7, 2023 1:22pm Nov 7, 2023 1:22pm
Come on mister engulfing candle
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yes yes yes
  • #788,629
  • Nov 7, 2023 1:26pm Nov 7, 2023 1:26pm
I don't know if someone shared this indicator before or not..
Smart Money Concept for MT4
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File Type: ex4 Clever Smart.ex4   88 KB | 290 downloads
!! Radha Radha !!
  • #788,630
  • Nov 7, 2023 1:27pm Nov 7, 2023 1:27pm
Quoting Wavegarrick
{quote} I see a lot of talk about gambling. Not specifically aimed at you DF but here is my assessment. A gamble is when I do not know or can define the outcome of a decision. When I bought my bussiness 20 years ago I never knew the outcome and the future my business would hold, I did it on an educated guess but nevertheless it was a gamble. When you buy a house it is a gamble. When you start a new job it is a gamble. All in all life is a gamble and trading is no different. We are all gamblers whether we like it or not. It all boils down to one...
I think Dr. Dave just wanted to know if I'm a gambler. No further details were discussed. He was just wondering why I picked long at 1.2265 on a hell of downtrend, not even confirmed 1 Minute trend up. Actions like that make him crazy. And even makes him more crazy that I almost picked the bottom with my "gambling" attitude, lol.
  • #788,631
  • Nov 7, 2023 1:30pm Nov 7, 2023 1:30pm
im gona add another long if this 4H candle closes above that 2308 level in 2 .5 hours ....and will place a stoploss at that red candle close so will be just risking 10 pips on this trade from my average price if doeasnt ...cause if closes above the previous candles open or above is a buy signal in my system...id prefer a close above that weekly low so i can add another long cause will be big medicine and juju
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short trump and go long the deepstate
  • #788,632
  • Nov 7, 2023 1:33pm Nov 7, 2023 1:33pm
Market: lots of V-Formations last days on every timeframe. I don't like that at all. I really would like to see the orderflow of these big (probably few) guys. Who always buy small down corrections (currently) and always sell small corrections up (before). Hell, how much money do they have to have to keep such moves running. Really difficult environment for scalper.
  • #788,633
  • Nov 7, 2023 1:36pm Nov 7, 2023 1:36pm
Quoting JackintheBox
{quote} I think Dr. Dave just wanted to know if I'm a gambler. No further details were discussed. He was just wondering why I picked long at 1.2265 on a hell of downtrend, not even confirmed 1 Minute trend up. Actions like that make him crazy. And even makes him more crazy that I almost picked the bottom with my "gambling" attitude, lol.
Well, you picked a long at 1.2265 and that makes you a hell of a gambling man but an educated one now seeing that you are in profit at the moment
Cheers.
Trade to trade another day
  • #788,634
  • Nov 7, 2023 1:37pm Nov 7, 2023 1:37pm
Quoting JackintheBox
Market: lots of V-Formations last days on every timeframe. I don't like that at all. I really would like to see the orderflow of these big (probably few) guys. Who always buy small down corrections (currently) and always sell small corrections up (before). Hell, how much money do they have to have to keep such moves running. Really difficult environment for scalper.

the big guys wiped out 6 previous weekly candles so there will be followthru hier LOL.. only question is if they close this week as a small range inside candle or jack it up more by friday


the only time an engulfing candle gets reversed by the next one is on small timeframes like 1 and 5 minute
short trump and go long the deepstate
  • #788,635
  • Nov 7, 2023 1:39pm Nov 7, 2023 1:39pm
Quoting Zebi
im gona add another long if this 4H candle closes above that 2308 level in 2 .5 hours ....and will place a stoploss at that red candle close so will be just risking 10 pips on this trade from my average price if doeasnt ...cause if closes above the previous candles open or above is a buy signal in my system...id prefer a close above that weekly low so i can add another long cause will be big medicine and juju {image}

I just shorted 1.2300 !
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in wondering about yourself, you forgot what you came here to be part of
  • #788,636
  • Nov 7, 2023 1:42pm Nov 7, 2023 1:42pm
Quoting knkie
{quote} I just shorted 1.2300 ! {image}

what timeframe is that chart?
short trump and go long the deepstate
  • #788,637
  • Nov 7, 2023 1:44pm Nov 7, 2023 1:44pm
Quoting Moty
In profit again It was a mistake to go down to m1 tf {image} {image}
M1 is only for exit , not for entry
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yes yes yes
  • #788,638
  • Nov 7, 2023 1:51pm Nov 7, 2023 1:51pm
Quoting Zebi
{quote} the big guys wiped out 6 previous weekly candles so there will be followthru hier LOL.. only question is if they close this week as a small range inside candle or jack it up more by friday the only time an engulfing candle gets reversed by the next one is on small timeframes like 1 and 5 minute
This type of partially engulfing candle on the weekly, I have counted like 8 that failed immediately between 2017 and now on the weekly chart including fully engulfed ones..there is nothing like never
  • #788,639
  • Nov 7, 2023 1:52pm Nov 7, 2023 1:52pm
today lots of state and local elections in usa so may affect the dollar... winners start bein projected after 9 pm new york time

good luck to all my pinko liberal candidates LOL
short trump and go long the deepstate
  • #788,640
  • Nov 7, 2023 1:55pm Nov 7, 2023 1:55pm
Quoting Moty
{quote} M1 is only for exit , not for entry {image}
Out !!!
Another profitable day
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yes yes yes
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