Cable Update (GBPUSD)

ok I get your point.
I read your previous posts in this thread and it looks like you are an experienced trader.
I was just pointing out that we never know what fits better to someone with different perception than ours.

at some point, there is no perfect strategy.
its just personal subjective perception about market moves.

i don’t like when people blame things or blame other people.
its just different views. That’s it.

if you read in here there are many people blaming.
if we have an idea, there is no reason to make this idea sound better than the others.

The “I am better than you” because “I know stuff” thing is something useless and pointless.
this of course will be true for you, for me and for anyone reading as well.

Hi, can you please explain why you expected that drop?
i see one zone which should be retested before more up move (in chart ) is this it or maybe you are looking for something else,
thanks in advance

New levels are bulding

I will be interested in buying lower than the actual area.
but let’s see,

1.26 could become interesting support

A straight 35/40 pips in asia needs to retrace .

Actually London candle is valid for the day

my simple plan..break 2650 lead to 2700..break 2610 lead to 2550

G/M, y/day's big >30day adr dly bearish thrust candle is at least indicative of a downside follow-thru at some point, of whatsoever size/howsoever long re duration? Today so far all up in Asian session with an early London session sell-off from a prev 1hr sw lo zone = prev supp = pot sbr / 2 x upside fibs. Asian hi and lo are presently the current dly hi and lo. 1hr is in a general downtrend, intraday is up so far.

1hr below

Hi Oochie

So you did answer my question. you believe you need Context when you're looking for a reason to take a trade from many external sources.
Thats just making life too hard for yourself.

You forget that we are just trading the single market we have in front of our eyes, and we only need to look for high probability setups to profit for just a few ticks to make great profits. Therefore all you need is to be able to identify setups that offer 90% probability of a win, hit them with trade sizes in excess of $50 a Tick and you're not be sleeping in a carboard box on a street corner that tonight.

That's it, the big picture is irrelevant.

You said I like being high tech using Futures data or some other crap like that, here is the truth.
I find my 95% probability setups by using a basic DOM that was developed 12 years ago - on a 13 inch IG laptop that's 16 months old using, not to mention a moderately slow connection to my broker in Chicago. What's more my internet connection is often lousy because I tend to be trading from some random hotel room from anywhere in the world as I am the Ultimate trading traveller.
As I speak, I am trading from a hotel room over-looking Danube in Budapest right now. Give me a few weeks am I'll be trading from Finland near the Artic circle - BECAUSE I CAN.

AND I CAN STILL FRONT RUN ALGO'S BECAUSE I KNOW THEIR CODING INSTRUCTIONS

The problem with yourself and many other traders on Forex Factory is they trade the markets by looking at historical market data solely.
Why do you think Automobile manufactures make the Windows smaller at the rear than the front, they want you to drive their car by looking forward and making decisions based by future events.

YOU CAN"T SEE RED LIGHTS BY LOOKING OUT THE REAR WINDOW

Why trade the markets by looking backwards, Future's data lets you see RED Lights and what is fast approaching your current position. Quants firms know this so program their Algorithm's to focus on Liquidity Resting on a Depth of Market and let them run loose.

I have NO IDEA whether the market I trade is bullish or bearish, the current ADR, fast or slow, weak or strong, who cares
I only need to know what the market imbalance of Asks / Bids is and its ratio - Basically the setups Quant Algorithm's hunt for in general.

Good luck trading out of your rear window.

Bye...

simple and true
i would say less than 2550 if down.. (circa 2525/3)

waiting for push up to sell

...Current dly lo again finding some support in the prev 1hr/4hr sw hi zone = prev res = pot rbs...2 further such zones below it, so red circled area might see demand emerge if tested by price? 4hr is presently rangy - bearish overall.


4hr below with 10/20/40 ema crosses graphic

I'm Long on UJ and GJ

Gu might range today

London open.. I am anticipating price to trade higher and take out the BSL on UJ and GJ respectively..

great comment!

normally i don't like reading such long texts, but yours was worth it;-)

above 1.27 may attract sellers in the 1st Quarter of 2024

at the moment i am looking for a buy on drops

As a trader do not trade all the 3 sessions. Most traders make this mistake in their early stage. I made the same mistake too. You will develop a brain fatigue which will affect your trade decision.
Trade at most 2-session depending on your Geographical location.

... testing deeper in this prev 1hr sw lo zone now...a sw lo of the prev run up not of the move down so historically lower in probability of potential sbr. 1hr bearish hidden div has developed which may stay valid on a deeper p/back of the down move and whilst below 2759. No real next higher t/f (4hr) downtrend though.

1hr below

Hello everyone and Happy New Year. I hope this year brings us lots of profit and peace of mind.

Here is my take for the first 5 trade days of this New Year... Minimum expected range is 170 pips, average expected range is 240 pips, maximum expected range is 340 pips. So far it has done 150 pips, expect additional 20 - 100 pips to break either 1.2760 or 1.2610 in the next 3 trade days. Buyable price is 1.2560 - 1.2520, sellable price is between 1.2800 - 1.2840.

This month range will likely be between 420 - 600 pips, while this year range will likely be between 1400 - 1700 pips.

i think yesterdays low might be taken. after that i'm bullish.
yesterdays low swipe is not a necessity. we reacted off of the daily open, could be bulls already.
if we're still up above daily open around 9.30am-10am probably will stay above

...after consulting other charts, I've decided to ignore the 1st candle's lo today on my charting, as this includes broker spread widening @' open ' ...(can be difficult to tell if the gap is real or not but on a seamless 24hr market like forex, (other than sometimes the Friday w/e close then Sunday open) it is almost always broker spread widening. I have altered my TA accordingly on chart below.

1hr below