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Cable Update (GBPUSD)

  • #795,081
  • Dec 5, 2023 4:08am Dec 5, 2023 4:08am
what strikes me is that 3 closing prices on H1 were abruptly stopped just before 1.2600 and the prices were driven upwards by our friends;-) and this despite the fact that the natural course of events pointed to prices below 1.2600.

now at the last one a bullish breakout was initiated by an IB to drive even more longs into the market.

i think our friends will continue to collect their shorts in order to make nice profits with them later.

so it may be helpful to take a closer look at shorts today and maybe tomorrow.
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trading is like dancing, don't think and just listen to the music!
  • #795,082
  • Dec 5, 2023 4:13am Dec 5, 2023 4:13am
show me the signal mf
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yes yes yes
  • #795,083
  • Dec 5, 2023 4:20am Dec 5, 2023 4:20am
Quoting birdland
what strikes me is that 3 closing prices on H1 were abruptly stopped just before 1.2600 and the prices were driven upwards by our friends;-) and this despite the fact that the natural course of events pointed to prices below 1.2600. now at the last one a bullish breakout was initiated by an IB to drive even more longs into the market. i think our friends will continue to collect their shorts in order to make nice profits with them later. so it may be helpful to take a closer look at shorts today and maybe tomorrow. {image}
...actually on 1hr the original prev sw lo zone = prev supp = pot supp (circled in blue,) has been tested 7 times now and held as supp (circled in red,) the last 3 @/near/near (respectively,) the bottom of the original zone that extends down to 2603. Some may see this as bullish, but if tested again you wonder how much demand can be left?

1hr below
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Trader with an Edge.
  • #795,084
  • Dec 5, 2023 4:25am Dec 5, 2023 4:25am
sold 1.2636 Sl 1.2646
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #795,085
  • Dec 5, 2023 4:26am Dec 5, 2023 4:26am
Quoting Headland
{quote} ...actually on 1hr the original prev sw lo zone = prev supp = pot supp (circled in blue,) has been tested 7 times now and held as supp (circled in red,) the last 3 @/near/near (respectively,) the bottom of the original zone that extends down to 2603. Some may see this as bullish, but if tested again you wonder how much demand can be left? 1hr below {image}

that's right, it's actually impossible to miss with our trained eye;-)

yes, it can go up again (actually i still expect it), but at some point this 1.2600 will break, and probably with a red news like nfp or something similar.
trading is like dancing, don't think and just listen to the music!
  • #795,086
  • Dec 5, 2023 4:31am Dec 5, 2023 4:31am
Quoting birdland
{quote} that's right, it's actually impossible to miss with our trained eye;-) yes, it can go up again (actually i still expect it), but at some point this 1.2600 will break, and probably with a red news like nfp or something similar.
this is quite similar to the 12530 area which resisted to break despite multiple attempts too.
Insane in the Brain..
  • #795,087
  • Dec 5, 2023 4:34am Dec 5, 2023 4:34am
Quoting birdland
{quote} that's right, it's actually impossible to miss with our trained eye;-) yes, it can go up again (actually i still expect it), but at some point this 1.2600 will break, and probably with a red news like nfp or something similar.
Hi, yes, there is a hi-probability that 2600 will be broken again to the downside '..at some point..,' but whether this will be in a few mins, or hours, or days, or weeks, or months, or years, we don't know. There is nothing inevitable about when, or even that it will. Yes there are those in this thread who believe they have the power of foresight. confidently predicting this(,!) but the rest of us don't know anything for an absolute certainty, and we are fine with that (which is just as well.) Sometimes our edges give us the probability of one thing happening over another, and sometimes that probability plays out, that is all we know (and need to know) for sure.
Trader with an Edge.
  • #795,088
  • Dec 5, 2023 4:39am Dec 5, 2023 4:39am
There you go, like you're blind calls, but right

Quoting Zebi
{quote} but you know what bonzey...youre right...i kept saying gold wouldnt get to new highs and it did for a total of 7 hours last night LOL i was wrong for for all of 7 hours out of 7 months LOL heres a hourly chart with the all time hi marked at 2078...7 hours bonzey... being wrong about that makes me feel just as useless as you do {image}
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #795,089
  • Dec 5, 2023 4:44am Dec 5, 2023 4:44am
Quoting Headland
{quote} Hi, yes, there is a hi-probability that 2600 will be broken again to the downside '..at some point..,' but whether this will be in a few mins, or hours, or days, or weeks, or months, or years, we don't know. There is nothing inevitable about when, or even that it will. Yes there are those in this thread who believe they have the power of foresight. confidently predicting this(,!) but the rest of us don't know anything for an absolute certainty, and we are fine with that (which is just as well.) Sometimes our edges give us the probability...
lol
there are even religions that predict the end of the world with a date.

or climate experts who know exactly what the weather will be like in 2050.

or the economic researchers who predict the exact GDP...these are my favourites;-)

all well-paid charlatans
trading is like dancing, don't think and just listen to the music!
  • #795,090
  • Dec 5, 2023 4:59am Dec 5, 2023 4:59am
Quoting birdland
{quote} lol there are even religions that predict the end of the world with a date. or climate experts who know exactly what the weather will be like in 2050. or the economic researchers who predict the exact GDP...these are my favourites;-) all well-paid charlatans
Lol, yeh. They say economic forecasting was invented to make astronomers look respectable! Re trading, I think there are some traders that don't understand that you don't need to know what will happen next to make money from the activity, and (and they may be one and the same in some cases) some (like most humans) don't like/can't cope with uncertainty. The result is - they 'predict' to calm their minds of this uncertainty. They then get married to the prediction and some even publish it here, and it ends up in ego disputes like the ongoing 'Bones -vs- Zebi that started with the 3 Black crows-gate dispute, (no disrespect to either.) To be clear I am not saying that Bones or Zebi fit into the aforementioned categories, and when Bones highlighted the 3 black crows he was right, that 'pattern' is known for having a historically hi-probability (to whatever extent,) of a downside follow thru - whether it did on that occasion or not, (I forget - I think it did for a while at least?)
Trader with an Edge.
  • #795,091
  • Dec 5, 2023 5:07am Dec 5, 2023 5:07am
Bought new evaluation three days ago.

I got black friday deal.

The account hardly went below 100k.

Passed today. It took 3 days.

My take is 2 % max profit or 3 % loss.

It is working.
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Intraday only.
  • #795,092
  • Dec 5, 2023 5:11am Dec 5, 2023 5:11am
Sold at 1.2645, Open TP and SL
  • #795,093
  • Dec 5, 2023 5:13am Dec 5, 2023 5:13am
Quoting sheva89
Sold at 1.2645, Open TP and SL
Why? Just because there was a swing high to there at the start of asia? :/
Congratulations ScalaFX for coming out of the closet!
  • #795,094
  • Dec 5, 2023 5:14am Dec 5, 2023 5:14am
Quoting navk
Based on my hourly chart, I took long with stop 2620/ asian low. {image}
This trades was a story today.

The long trades opened before frankfurt open.

My thinking was frankfurt will go up for London to sell.

Alas... frankfurt sold off.

I reset my stop to 1.2605. And added more longs when Frankfurt was selling.

1.2606 promptly held. ( )

Then closed all long trades when London spiked.

So, I passed phase 1 challenge which i bought on black friday deal.

When frankfurt was dropping... the loss was well within limits.. less than 2 %.

So, it was fine.
Intraday only.
  • #795,095
  • Dec 5, 2023 5:14am Dec 5, 2023 5:14am
Quoting Pat Chiko
{quote} GU Sharing losses result. And probability set up {image}
GU

update on scalping position
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #795,096
  • Dec 5, 2023 5:15am Dec 5, 2023 5:15am
Quoting navk
Bought new evaluation three days ago. I got black friday deal. The account hardly went below 100k. Passed today. It took 3 days. My take is 2 % max profit or 3 % loss. It is working. {image}
Nice I might have been there if not taking a hit after Powell on Friday but I'm 3k off passing mine.
  • #795,097
  • Dec 5, 2023 5:16am Dec 5, 2023 5:16am
Quoting Pat Chiko
{quote} GOLD Stopped out. Next set up{image}
GOLD

update on scalping position
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #795,098
  • Dec 5, 2023 5:17am Dec 5, 2023 5:17am
...price poked it's head just above Asian/the then current dly hi to that 50% fib.

1hr below
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Trader with an Edge.
  • #795,099
  • Dec 5, 2023 5:17am Dec 5, 2023 5:17am
Quoting MarcoJnr
{quote} Nice I might have been there if not taking a hit after Powell on Friday but I'm 3k off passing mine.
My advice is strict risk management.

If some 2 to 3 % DD You see, just get out of trades and look for new opportunity.
Intraday only.
  • #795,100
  • Dec 5, 2023 5:19am Dec 5, 2023 5:19am
Now, ready for phase 2.

Acc. credentials was sent within few seconds of passing phase 1.

Will start phase 2 leisurely.

No hurry.
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Intraday only.
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