selling GU. We will go down below 1.26
Cable Update (GBPUSD)
- #793,144
- Nov 28, 2023 12:39am Nov 28, 2023 12:39am
- Temporarily Suspended | Joined Jul 2021 | 3,677 Posts
Based on EW {image} The best case for GU rn Anyone sees other possible scenerio.
revised my EW wave C count today,
Saw it in line with the 3 rules of EW. and new iv correction is the largest corrective waves on this way up
Took first round of shorts in EU,
Waiting for MSS on 1hr timeframe GU and EU to go usual size.
Swing is setting for a pullback to 1.235 and structure wise looks bullish momentum is fading away. However HL,HH still in play, this is why waiting for 1hr MSS
Now more in line with PAT high probability trading style
More time in the market, does not mean you trade better!
- #793,145
- Nov 28, 2023 12:39am Nov 28, 2023 12:39am
- Joined Dec 2011 | Status: Postmaster | 11,928 Posts
POSTMASTER
- #793,146
- Nov 28, 2023 12:40am Nov 28, 2023 12:40am
- Joined Apr 2012 | Status: Stunning | 6,815 Posts
in wondering about yourself, you forgot what you came here to be part of
- #793,148
- Nov 28, 2023 12:50am Nov 28, 2023 12:50am
- Joined Oct 2019 | Status: Trader | 2,448 Posts
Usdcad dropping 
Master your mind. Master Trading.
- #793,149
- Edited 1:17am Nov 28, 2023 1:02am | Edited 1:17am
- Joined Aug 2022 | Status: Trader | 4,859 Posts
{quote} US$ strength?? You are showing that most FF members with trade explorers, are betting, anticipating, hoping, praying for $ strength. Nothing more. Look at the historical daily patterns of long and short trade proportions below for GBPUSD. https://www.forexfactory.com/trades#...ions-details=1 You will find that in most cases, they are wrong. It's the best contraindicator I have seen anywhere. This is not to be rude to anyone, but an honest observation.
It is just like trading volumes. Only the trading computers have all of the data and they don't share it.
- #793,150
- Nov 28, 2023 1:04am Nov 28, 2023 1:04am
- Joined Jun 2011 | Status: Trader | 1,731 Posts
Keep the Lights on then you can catch the rise from the dark.
- #793,151
- Nov 28, 2023 1:05am Nov 28, 2023 1:05am
- Joined Dec 2017 | Status: Trader | 30,688 Posts
yes yes yes
- #793,153
- Nov 28, 2023 1:19am Nov 28, 2023 1:19am
- Joined Dec 2019 | Status: Going with the flow | 2,033 Posts
Across the board (except JPY & CAD), US$ strength...
Emotional Control. Process, not outcome.
- #793,154
- Nov 28, 2023 1:21am Nov 28, 2023 1:21am
- Joined Dec 2019 | Status: Going with the flow | 2,033 Posts
is anyone actually trading cable. This forum maybe should be renamed, general forex thread, YAWN!
Emotional Control. Process, not outcome.
- #793,155
- Nov 28, 2023 1:22am Nov 28, 2023 1:22am
- Joined Dec 2019 | Status: Going with the flow | 2,033 Posts
Emotional Control. Process, not outcome.
- #793,156
- Nov 28, 2023 1:24am Nov 28, 2023 1:24am
- Joined Aug 2022 | Status: Trader | 4,859 Posts
{quote} Remember, this is irrelevant. Only FF, made up of poor traders and not many of them either in regards to the global scale of real traders
We don't have access to all the data. I have found that often price moves opposite to reported sentiment. I am not the only one with this observation. I agree with you that this should be the basis of a trading decision, simply information to be aware of because I find that when price moves against sentiment, the moves appear to be greater.
- #793,157
- Nov 28, 2023 1:25am Nov 28, 2023 1:25am
- Joined Dec 2011 | Status: Postmaster | 11,928 Posts
POSTMASTER
- #793,158
- Nov 28, 2023 1:28am Nov 28, 2023 1:28am
- Joined Aug 2010 | Status: absolute beginner | 5,464 Posts
trading is like dancing, don't think and just listen to the music!
- #793,159
- Nov 28, 2023 1:31am Nov 28, 2023 1:31am
- Joined Dec 2019 | Status: Going with the flow | 2,033 Posts
{quote} We don't have access to all the data. I have found that often price moves opposite to reported sentiment. I am not the only one with this observation. I agree with you that this should be the basis of a trading decision, simply information to be aware of because I find that when price moves against sentiment, the moves appear to be greater.
Emotional Control. Process, not outcome.
- #793,160
- Nov 28, 2023 1:34am Nov 28, 2023 1:34am
- Joined Mar 2020 | Status: Trader | 3,499 Posts
{quote} Another source, highlighting the US$, clearly approx. 75% of the currency values that make up DXY are bullish US$. I can't explain why FF actually tends to be in line with IG markets or I am not sure that either is an absolutely correct indicator or that an absolutely correct indicator exists. It is just like trading volumes. Only the trading computers have all of the data and they don't share it.
These are just retail traders right??
If so, they contribute virtually nothing to the strength or weakness of a particular currency.
They simply represent positions of retail traders, who lose the vast majority of the time.
Compulsions can be hard to resist