Cable Update (GBPUSD)

...you can see the attempt on the 4hr part of that wide prev 1hr/4hr sw hi zone = prev res = pot res (@ the Asian/current dly hi,) that extends to last wk's 2785 circled in red on chart below. Lower white circle are prev sw lo zones (coexistent with each other) where demand might emerge if tested? It's a scenario, but never guaranteed.

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

looks like it will find 1.27 again

Long for 20 -30 pips.

I can win ....

Hello Guys,
Looks like Pound Refused 1.28 it tried many times,
but now i will be waiting for any high tomorrow to sell,
specially in GBPJPY,
it has gone 600-700 pips up might be a good idea to start selling Pound today is tricky fro Pound so i am in EURCAD AND GBPCAD not exactly USD,
but in the past Cross pairs worked well for me,
eurcad 1.4700 sold 1.4650 target.
GPBCAD 1.7090 sold its 10pips holdfully will hit today's target 1.7050
the Hardest thing to do in trading is *Doing nothing*
get used to it Guys,
because the FOMO effect will hit you soon enough,
FOMO (Fear Of Mission Out)
can you control it.

Not sure.. risking money on PA

I don't understand how you can have the government censoring the press around the planet and actually believe that it is possible for anyone in government to rebuild trust? There is a real disconnect !

in such a case of a flash move against you, it would then be better trading via prop firm. Definitely.
case.
you trade 100k prop firm account and new month starts so clean 100k balance
going short 10 lots cable 100pips stop loss.
USA declares bankrupt because unable to pay debts (lol) and suddenly cable rates spikes up 2000pips.
account wiped.
Probably account locked due to the loss.

do the same out of a own account of 10 to 50k.
or even 100k.
say you funded the account right the day the event occurs.
and say your trade as only 1lot.

you wiped 20k of your money in a blink of an eye.

thats not the very same. I guess you have some difficulties in math

First cable trade after a while long for 20p low of the day…
4h candle has some upside potential…

..bottom of that prev (disrespected hence hollow) 1hr/4hr sw hi then lo zone is where support came in @ the current dly lo...upside challenging a prev 1hr/4hr sw lo zone now, = prev supp = pot sbr.

1hr below

I've just noticed that today is NY holiday.. bummer

GU

completed bearish set up on Wyckoff

my entry

Hi Hoda,

FYI.
I dont trade using Supply & Demand.
I use Wyckoff infuse with S&R.
Double confirmation with EW.


Thank you
PAT

You missed your maths classes. Did you know 10 lots is equal $100 per pips using GBP/USD?
Did you read where I said "if unlucky and price jumps 10,000 pips against my initial stop loss of 100 pips"
100k would vanish in a flash?

...challenging 2nd pot upside hurdle now re a prev 1hr/minor 4hr sw lo zone = prev supp = pot sbr

4hr/1hr below

Keep climbing mf

Hi,

Haha, I guess you could look at it that way!
But in all seriousness, my goal was to encourage a deeper understanding of trading beyond quick tips and tricks.
The learning journey is personal, and I wanted to provide a framework for that journey rather than offer specific instructions.

I understand your perspective.
However, my intention wasn't to withhold information, but to emphasize the importance of self-study and active knowledge acquisition.
Trading success requires more than just following someone else's playbook.
I wanted to equip melord with the tools and mindset to develop their own trading strategies.

While I don't provide specific trade setups in the essay, I'm happy to discuss your questions and help you explore your own trading ideas.
Maybe you can point out specific areas where you felt something was missing, and I can try to clarify my message?

If 'go find it yourself' is all you got to say, then maybe you haven't dug deep enough into the real challenges of trading.
It's not about getting spoon-fed secrets, it's about actively seeking knowledge and developing the skills to apply it successfully.

Easy answers rarely lead to lasting success.
However, I'm always open to better advice.
If you think my approach is too verbose, perhaps you could offer melord your own concise formula for to replicate my success in one day.
Let's hear your 'go-to' strategy!"

True wealth in trading comes from the dedication and discipline required to forge your own path.
So tell me, what and how you would approach to answer melord question. I'm glad if you could share your version.

Just to reiterate, the essay isn't about hiding knowledge, but about promoting a different approach.
It's about empowering individuals to take ownership of their learning and develop the skills and discipline needed for long-term success in trading.

Ultimately, our goal is the same: to support 's melord's quest for financial success.
So, let's see what ideas we can generate together.
What quick win approach do you think melord can implement right now?

I wait for you.

Besst wishes

PAT CHIKO

A Five-Step Approach to the Market
The Wyckoff Method involves a five-step approach to stock selection and trade entry, which can be summarized as follows:
1. Determine the present position and probable future trend of the market. Is the market consolidating or trending? Does your analysis of market structure, supply, and demand indicate the direction that is likely in the near future? This assessment should help you decide whether to be in the market at all and, if so, whether to take long or short positions. Use bar charts and Point and Figure charts of the major market indices for Step 1.
2. Select stocks in harmony with the trend. In an uptrend, select stocks that are stronger than the market. For instance, look for stocks demonstrating greater percentage increases than the market during rallies and smaller decreases during reactions. In a downtrend, do the reverse—choose stocks weaker than the market. If you aren't sure about a specific issue, drop it and move on to the next one. Use bar charts of individual stocks to compare with those of the most relevant market index for Step 2.
3. Select stocks with a “cause” that equals or exceeds your minimum objective. A critical component of Wyckoff's trade selection and management was his unique method of identifying price targets using Point and Figure (P&F) projections for long and short trades. In Wyckoff's fundamental law of “Cause and Effect,” the horizontal P&F count within a trading range represents the cause, while the subsequent price movement represents the effect. So, if you're planning to take long positions, choose stocks that are under accumulation or re-accumulation and have built a sufficient cause to satisfy your objective. Step 3 relies on the use of Point and Figure charts of individual stocks.
4. Determine the stocks' readiness to move. Apply the nine tests for buying or selling (described below). For instance, in a trading range after a prolonged rally, does the evidence from the nine selling tests suggest that significant supply is entering the market and that a short position may be warranted? Or in an apparent accumulation trading range, do the nine buying tests indicate that supply has been successfully absorbed, as evidenced further by a low-volume spring and an even lower-volume test of that spring? Use bar charts and Point and Figure charts of individual stocks for Step 4.
5. Time your commitment with a turn in the stock market index. Three-quarters or more of individual issues move in sync with the overall market. So, you improve the odds of a successful trade by having the power of the overall market behind it. Specific Wyckoff principles help anticipate potential market turns, including a change of character of price action (such as the largest down-bar on the highest volume after a long uptrend), and manifestations of Wyckoff's three laws (see below). Put your stop-loss in place and trail it, as appropriate, until you close out the position. Use bar and Point and Figure charts for Step 5.

You are strong as always, Moty.

Keep it profitable!