Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

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#802,741
Jan 15, 2024 5:13am Jan 15, 2024 5:13am

Yngwie
Joined Aug 2008 | Status: Trader | 3,986 Posts

Quoting Yngwie

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{quote} Range 1.2765 ~ 1.2720/2700/2680

Ignored

1.2720 done 1.2700 almost there

Live trade ~ GBPUSD only. No chart! Follow at your own risk!

#802,742
Jan 15, 2024 5:13am Jan 15, 2024 5:13am

hoda
Joined Feb 2012 | Status: Devour of Dream | 1,020 Posts

Quoting hoda

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{quote} 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...

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The Basic Principles: Three Wyckoff Laws

Wyckoff's chart-based methodology rests on three fundamental “laws” that affect many aspects of analysis. These include determining the market's and individual stocks' current and potential future directional bias; selecting the best stocks to trade long or short; identifying the readiness of a stock to leave a trading range; projecting price targets in a trend from a stock’s behavior in a trading range.
These laws inform the analysis of every chart and the selection of every stock to trade.

1. The law of supply and demand determines price direction. This principle is central to Wyckoff's method of trading and investing. When demand is greater than supply, prices rise, and when supply is greater than demand, prices fall. The trader/analyst can study the balance between supply and demand by comparing price and volume bars. This law is deceptively simple, but learning to accurately evaluate supply and demand on bar charts, as well as understanding the implications of supply and demand patterns, takes considerable practice.

2. The law of cause and effect helps the trader and investor set price objectives by gauging the potential extent of a trend emerging from a trading range. Wyckoff's “cause” can be measured by the horizontal point count in a Point and Figure chart. The “effect” is the distance price moves corresponding to the point count. This law's operation can be seen as the force of accumulation or distribution within a trading range, as well as how it works itself out in a subsequent trend or movement up or down. Point and Figure chart counts are used to measure a cause and project the extent of its effect. (See “Point and Figure Count Guide” below for an illustration of this law.)

3. The law of effort versus result provides an early warning of a possible trend change in the near future. Divergences between volume and price often signal a change in the direction of a price trend. For example, when there are several high-volume (large effort) but narrow-range price bars after a substantial rally, with the price failing to make a new high (little or no result), it suggests that big interests are unloading shares in anticipation of a change in trend.

Intraday Trading is an Art _ hoda

#802,743
Jan 15, 2024 5:17am Jan 15, 2024 5:17am

voeltoez
Joined Jul 2011 | Status: Hi hoo im back!! | 2,678 Posts

sold again 2730 tp 2700

#802,744
Jan 15, 2024 5:22am Jan 15, 2024 5:22am

Headland
Joined Apr 2020 | Status: Trader | 8,807 Posts

Quoting Headland

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

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There is 5min bearish hidden div present @ the current p/back hi but no real 30min/1hr downtrend to enter after the p/back and up against that last 1hr bullish hammer close, - so all-in-all not the highest probability signal/set-up, but who knows? Anything can happen!

1hr below

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Trader with an Edge.

#802,745
Jan 15, 2024 5:26am Jan 15, 2024 5:26am

montygoldy
Joined May 2017 | Status: Intermediate Trader | 6,416 Posts

Quoting montygoldy

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

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be hit

Extreme gut feeling trader

#802,746
Jan 15, 2024 5:27am Jan 15, 2024 5:27am

HaLBot
Joined Jan 2016 | Status: Trader | 5,200 Posts

Quoting Ferna

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{quote} look we can’t go have everyone in on everything, one of the government’s jobs is also national security. Believe it or not there are competitors for land and power. All that we built can be erased in matter of weeks if it wasn’t played safely. Now it’s time to build back better. The technology and infrastructure is in place, now we need the help of the people. This is an opportunity of a lifetime.

Ignored

Surely you got to be trolling us m8

We all know Klaus wants you to eatz ze bugz, own nothing, live in a pod and be happy....

Don't Leave Money on the Table

#802,747
Jan 15, 2024 5:37am Jan 15, 2024 5:37am

martinez1
Joined Aug 2011 | Status: Trader | 898 Posts

Quoting Advice777

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I asked my broker tickmill if stop is respected during black swan? Stop Loss is not guaranteed during a "black swan" event of 2000 to 10,000 pips against your original stop loss. Meaning your account would be wiped out (my own rephrase) This makes trading forex a very very dangerous business for retailers. If I see a Prop Firm that would guarantee my stop loss during black swan, that is okay for me. Example if I am trading my own personal capital of 100k using stop loss of 100 pips and 1 lot, and a single trade of GBP/USD. If market flash 2000 pips...

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This is why we should all be skillful traders, if you know how you lost your account especially when it wasn't your doing and if your skillful enough
then you can always build back up, the only thing will be time.
ACQUIRNG a good level of skill is very important in this business.
When you have tried and tested skill the you won't be afraid of anything. Cheers

THE TRUTH IS SIMPLE,ACCEPTING THE SIMPLICITY OF THE TRUTH IS WHAT IS HARD

#802,748
Jan 15, 2024 5:41am Jan 15, 2024 5:41am

Moty
Joined Dec 2017 | Status: Trader | 30,688 Posts

Took long

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yes yes yes

#802,749
Jan 15, 2024 5:43am Jan 15, 2024 5:43am

Headland
Joined Apr 2020 | Status: Trader | 8,807 Posts

Quoting Headland

Disliked

{quote} There is 5min bearish hidden div present @ the current p/back hi but no real 30min/1hr downtrend to enter after the p/back and up against that last 1hr bullish hammer close, - so all-in-all not the highest probability signal/set-up, but who knows? Anything can happen! 1hr below {image}

Ignored

2nd pot upside obstacle cleared by the bulls in an upside follow-thru on the last bullish hammer close on that 1hr t/f.

4hr/1hr below

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Trader with an Edge.

#802,750
Jan 15, 2024 5:44am Jan 15, 2024 5:44am

T721
Joined Oct 2020 | Status: couldn't give a flying duck | 7,377 Posts

Quoting T721

Disliked

GBP/USD .... Gameplan 4me ----- no idea if this will work but if i see Liquidity grab in green circle area i buy.... Pretty Risky imo but lets see what happens Open to criticism from all peeps coz this could go Titsup on me anytime {image}

Ignored

GBP/USD .... Gameplan 4me ----- no idea if this will work but if i see Liquidity grab in green circle area i buy....

Pretty Risky

imo but lets see what happens Open to criticism from all peeps coz this could go Titsup on me anytime {image}
GBP/USD UPDATE ----- missed this trade was sleeping. Note to self....asshole --- if it drops deeper into green circle again i will get it otherwise wait to sell

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#802,751
Jan 15, 2024 5:49am Jan 15, 2024 5:49am

Ehminiz
Joined Apr 2020 | Status: Trader | 645 Posts

Quoting Ehminiz

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{quote} my entry {image}

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Out of my buys.

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#Stay blue. /swinger/scalper/

#802,752
Jan 15, 2024 5:56am Jan 15, 2024 5:56am

ScalaFX
Joined May 2021 | Status: Trader | 7,225 Posts

Quoting T721

Disliked

{quote} GBP/USD .... Gameplan 4me ----- no idea if this will work but if i see Liquidity grab in green circle area i buy.... Pretty Risky imo but lets see what happens Open to criticism from all peeps coz this could go Titsup on me anytime {image} GBP/USD UPDATE ----- missed this trade was sleeping. Note to self....asshole --- if it drops deeper into green circle again i will get it otherwise wait to sell {image}

Ignored

the same

People don't plan to lose. They lose because they don't plan.

#802,753
Jan 15, 2024 6:01am Jan 15, 2024 6:01am

birdland
Joined Aug 2010 | Status: absolute beginner | 5,464 Posts

Quoting birdland

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good morning, my daily buy&sell zones {image}

Ignored

unfortunately went out a bit early, but that's life;-)

USA is closed and you can tell, there are other participants in the market.

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trading is like dancing, don't think and just listen to the music!

#802,754
Jan 15, 2024 6:06am Jan 15, 2024 6:06am

MTF Test
Joined May 2008 | Status: I Loose, I Win, I Conquer | 1,834 Posts

Another round of buying. War between bulls and bears today.

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Fools Rushing

#802,755
Jan 15, 2024 6:14am Jan 15, 2024 6:14am

ScalaFX
Joined May 2021 | Status: Trader | 7,225 Posts

Quoting birdland

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{quote} unfortunately went out a bit early, but that's life;-) USA is closed and you can tell, there are other participants in the market. {image}

Ignored

Gut Handel Mann

People don't plan to lose. They lose because they don't plan.

#802,756
Jan 15, 2024 6:16am Jan 15, 2024 6:16am

_BBKing_
Joined Apr 2010 | Status: Today is my first trading day! | 9,452 Posts

Quoting Advice777

Disliked

{quote} 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?

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so, referred to my example, you really prefer wasting 20k your money (or more)instead of wiping a prop firm account? Or did I get wrong about this?

believe me, when the 9/11 occurred, you would have loved all this planet’s gods if you had the opportunity to be trading stocks on a prop firm account instead of looking at your portfolio approaching a -80%.

that’s it.

as always different people have different ideas.