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Cable Update (GBPUSD)

  • #793,241
  • Nov 28, 2023 4:48am Nov 28, 2023 4:48am
Open Sell with tight S.L
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Intraday Trading is an Art _ hoda
  • #793,242
  • Nov 28, 2023 4:52am Nov 28, 2023 4:52am
G/M, 3rd consec bullish-bodied dly candle y/day of course. So far today a false 1st marginal downside break of the Asian lo with Asian hi being the current dly hi. Small p/back y/day off y/day's 2644/45 hi and price remains inbetween that and the 1st p/back lo off that hi - y/day @ 2599. Dly S1 just below that.

1hr below
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Trader with an Edge.
  • #793,243
  • Nov 28, 2023 4:55am Nov 28, 2023 4:55am
Quoting MrFanciful
{quote} I've let the trading get the better of me again. I decided to "quit" a month or so ago and take the remaining amount in my account (about £50) to either the moon or to zero. I got it up to £550 by last Friday. Now I'm back down to £65. I'm actually pretty good at sideways markets. I can't trend trade to save my life.
So find a way to determine which pairs are in a sideways / ranging behaviour and then only scalp up and down with some kind of oscilator.
keep it simple.
in wondering about yourself, you forgot what you came here to be part of
  • #793,244
  • Nov 28, 2023 5:00am Nov 28, 2023 5:00am
1hr looks like Wyckoff to me.
More time in the market, does not mean you trade better!
  • #793,245
  • Nov 28, 2023 5:01am Nov 28, 2023 5:01am
Quoting MrFanciful
{quote} I've let the trading get the better of me again. I decided to "quit" a month or so ago and take the remaining amount in my account (about £50) to either the moon or to zero. I got it up to £550 by last Friday. Now I'm back down to £65. I'm actually pretty good at sideways markets. I can't trend trade to save my life.
everybody are good with sideways markets… it always come back to green even if it’s awful trade.

you will be fine.
try to adopt a trend indictor and trade setups only with the trend.
reversal trade most of the time failed.
  • #793,246
  • Nov 28, 2023 5:01am Nov 28, 2023 5:01am
Cable short to 1.26200 and then long again. My opinion.
  • #793,247
  • Nov 28, 2023 5:02am Nov 28, 2023 5:02am
...I see we have another hater in the thread, probably a pal of MKVY and PeterCaleb ? Irony is he spent Sunday telling us all we were amateurs for even thinking of trading y/day, and then spent all day in the thread himself emptying the contents of his spleen as usual. I see he has carried on this London morning with the same thing. Please everyone issue a cleanup report, the more of us that do it, the shorter time he should be here. After that please all put him on ignore, he has nothing of any value to add, even basic civility.
------------------------------------------------------------------------------------------------------------------------

...as discussed Y/day,it's 2644/45 hi just crept into a prev 1hr/4hr sw lo zone from 4th Sept, = prev supp = port sbr, this extending up to circa 2662 with Wkly R1 @/around just above it 2664. 1hr/4hr/dly uptrends still intact, correct @ time of writing.

4hr below
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Trader with an Edge.
  • #793,248
  • Nov 28, 2023 5:04am Nov 28, 2023 5:04am
Quoting Fardeen1209
1hr looks like Wyckoff to me.
accumulation or distribution?
  • #793,249
  • Nov 28, 2023 5:11am Nov 28, 2023 5:11am
Quoting Whale
Low risk short {image}
No volume.. against the trend the odds are lower.

im out with pip
  • #793,250
  • Nov 28, 2023 5:18am Nov 28, 2023 5:18am
Quoting Konichiwhaat
{quote} why are you here then?
to be in a cable thread, why are you here?
  • #793,251
  • Edited 6:01am Nov 28, 2023 5:20am | Edited 6:01am
Quoting Headland
....as discussed Y/day,it's 2644/45 hi just crept into a prev 1hr/4hr sw lo zone from 4th Sept, = prev supp = port sbr, this extending up to circa 2662 with Wkly R1 @/around just above it 2664. 1hr/4hr/dly uptrends still intact, correct @ time of writing. 4hr below {image}
Above the prev 1hr/4hr sw lo zone mentioned above, there is a prev 1hr/4hr sw hi zone = prev res = pot res that extends on 4hr from 2694-2712. Above that a prev 4hr/dly sw hi zone = prev res = pot res that extends to 2747, and starts on dly around the 61.8% of the main 3142-2038 move which is @ 2720, with Wkly R2 @/around 2724.

dly below
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Trader with an Edge.
  • #793,252
  • Nov 28, 2023 5:20am Nov 28, 2023 5:20am
Quoting Fardeen1209
1hr looks like Wyckoff to me.
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Based only on PA and Time, i see it as Wyckoff distribution.
If you turn on Vol (even tho vol arent accurate in FX) you can see Higher vol occurred on the Red candles)
More time in the market, does not mean you trade better!
  • #793,253
  • Nov 28, 2023 5:23am Nov 28, 2023 5:23am
gu strong, over or under 2642 ? let s see
trade without value means to lose
  • #793,254
  • Nov 28, 2023 5:28am Nov 28, 2023 5:28am
Come on bears
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yes yes yes
  • #793,255
  • Nov 28, 2023 5:34am Nov 28, 2023 5:34am
...consolidation in a pennant thing going on re 1hr,? maybe? The double regular bearish div @ y/day's hi is shown, maybe providing some comfort for any bears holding shorts from that top? All 5min+ 10/20/40 ema crosses are with the bulls right now though, to dly t/f.

Ema crosses graphic and 1hr below
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Trader with an Edge.
  • #793,256
  • Nov 28, 2023 5:35am Nov 28, 2023 5:35am
Come on
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yes yes yes
  • #793,257
  • Nov 28, 2023 5:36am Nov 28, 2023 5:36am
Quoting mkvy
{quote} to be in a cable thread, why are you here?
self accountability
Emotional Control. Process, not outcome.
  • #793,258
  • Nov 28, 2023 5:37am Nov 28, 2023 5:37am
Quoting mkvy
{quote} to be in a cable thread, why are you here?
If you aren't a part of the echo chamber then you just aren't cool!

Coming to threads like this is THE best way to learn how not to trade, and how not to think. All the time I'm seeing the dumbest nonsense being posted, and look at the crowd shit the bed when it's pointed-out to them. Bunch of trader-Karen's peddling their homeopathy-grade garbage... it's a race to the bottom.

Anti-knowledge is helpful in its own right, to a point. Threads like this are a good anti-indicator.
Congratulations ScalaFX for coming out of the closet!
  • #793,259
  • Nov 28, 2023 5:37am Nov 28, 2023 5:37am
I will re-maneuver into the bear if yesterday's low has been broken
https://breakpullback.com
  • #793,260
  • Nov 28, 2023 5:39am Nov 28, 2023 5:39am
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