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Cable Update (GBPUSD)

  • #793,141
  • Nov 27, 2023 10:15pm Nov 27, 2023 10:15pm
selling GU. We will go down below 1.26
  • #793,142
  • Nov 27, 2023 10:21pm Nov 27, 2023 10:21pm
Quoting Jackoboms
selling GU. We will go down below 1.26
Which level are we looking at for tp and how low can gu go for the week
  • #793,143
  • Nov 27, 2023 10:30pm Nov 27, 2023 10:30pm
Quoting Jackoboms
selling GU. We will go down below 1.26
How do you know?
I wish i had an idea which direction its going to go, crystal ball needed
  • #793,144
  • Nov 27, 2023 10:39pm Nov 27, 2023 10:39pm
Quoting Fardeen1209
Based on EW {image} The best case for GU rn Anyone sees other possible scenerio.
Hi,
revised my EW wave C count today,
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD_2023-11-28_10-21-49.png Size: 84 KB


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 27, 2023 10:39pm Nov 27, 2023 10:39pm
Quoting Jolita
{quote} Monthly chart is close to break strong R's. Patience pays, lots of good long term sell order limits ahead. Monthly Line View {image} HLOC monthly chart view {image}
Gold
Possibility closing gap around 1941 before reaching 2359
POSTMASTER
  • #793,146
  • Nov 27, 2023 10:40pm Nov 27, 2023 10:40pm
Quoting mkvy
{quote} How do you know? I wish i had an idea which direction its going to go, crystal ball needed
Just wait to see what happens at LO
then trade momentum
Stop predicting. Forex is not magic.
in wondering about yourself, you forgot what you came here to be part of
  • #793,147
  • Nov 27, 2023 10:44pm Nov 27, 2023 10:44pm
Quoting knkie
{quote} Just wait to see what happens at LO then trade momentum Stop predicting. Forex is not magic.
ok copied that
  • #793,148
  • Nov 27, 2023 10:50pm Nov 27, 2023 10:50pm
Usdcad dropping
Master your mind. Master Trading.
  • #793,149
  • Edited 11:17pm Nov 27, 2023 11:02pm | Edited 11:17pm
Quoting trumps
{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.
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.
Attached Image (click to enlarge)
Click to Enlarge Name: Screen9.png Size: 97 KB
  • #793,150
  • Nov 27, 2023 11:04pm Nov 27, 2023 11:04pm
long at 1.26240 sl 20pips tp wide.
Keep the Lights on then you can catch the rise from the dark.
  • #793,151
  • Nov 27, 2023 11:05pm Nov 27, 2023 11:05pm
Attached Image (click to enlarge)
Click to Enlarge Name: dx.png Size: 12 KB

Attached Image (click to enlarge)
Click to Enlarge Name: gu.png Size: 11 KB

Attached Image (click to enlarge)
Click to Enlarge Name: gu1.png Size: 11 KB
yes yes yes
  • #793,152
  • Nov 27, 2023 11:09pm Nov 27, 2023 11:09pm
I am shorting gold at 2017.20 till 2011.50
  • #793,153
  • Nov 27, 2023 11:19pm Nov 27, 2023 11:19pm
Quoting dantpm
Across the board (except JPY & CAD), US$ strength... {image}
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
Emotional Control. Process, not outcome.
  • #793,154
  • Nov 27, 2023 11:21pm Nov 27, 2023 11:21pm
Quoting mkvy
is anyone actually trading cable. This forum maybe should be renamed, general forex thread, YAWN!
why are you here then?
Emotional Control. Process, not outcome.
  • #793,155
  • Nov 27, 2023 11:22pm Nov 27, 2023 11:22pm
Quoting Jackoboms
selling GU. We will go down below 1.26
Why? Explain?
Emotional Control. Process, not outcome.
  • #793,156
  • Nov 27, 2023 11:24pm Nov 27, 2023 11:24pm
Quoting Konichiwhaat
{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 27, 2023 11:25pm Nov 27, 2023 11:25pm
Quoting Robinhood1
Bitcoin to reach 101.9xx shortly
Bitcoin has found support on its way to greater swing 101.9xx
POSTMASTER
  • #793,158
  • Nov 27, 2023 11:28pm Nov 27, 2023 11:28pm
sentiment, fundamentals...all the same shit for me.

i just use PA because i am daytraing, scalping.

only exception is i look at when are red news, especially NFP and BOE days.
trading is like dancing, don't think and just listen to the music!
  • #793,159
  • Nov 27, 2023 11:31pm Nov 27, 2023 11:31pm
Quoting dantpm
{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.
Correct, because sentiment is just the trade that WAS. Just like the charts. Its like waiting for confirmation. Many people here spend their time waiting and talking
Emotional Control. Process, not outcome.
  • #793,160
  • Nov 27, 2023 11:34pm Nov 27, 2023 11:34pm
Quoting dantpm
{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. {image}
I don't get 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
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