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Cable Update (GBPUSD)

  • #803,601
  • Jan 18, 2024 5:38am Jan 18, 2024 5:38am
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yes yes yes
  • #803,602
  • Jan 18, 2024 5:39am Jan 18, 2024 5:39am
Quoting voeltoez
{quote} daily still strong bullish for dollar, h4 already reject midbands at 103.13..need to up and test 103.65 for clear direction..im talking about my technical.. but if news can drag it down break of 103 could bring it to 102.50 lower bands H4.. so my thought it dollar will rise then go down at friday
usdx H1
cmiiw
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  • #803,603
  • Jan 18, 2024 5:40am Jan 18, 2024 5:40am
Quoting Whale
{quote} my view mate.. 1.2725-1.1275 to 1.2625 later only up for GU bulls.
yes high possibility 150pips range today
  • #803,604
  • Jan 18, 2024 5:40am Jan 18, 2024 5:40am
Quoting Whale
{quote} Higher... but yes mas o menus 1.28 sohail, you stuck with longs again?
yeah I had to take a hit on the ones for last week and withdraw (bills to pay etc) so went in back long as i do believe 127 is knocking. Its different to last weeks 128 where it rejected about 20 pips below. Initial TP is 12730 before I slide up the SL to b/e and up by 30 pips for every 30 pips up
Insane in the Brain..
  • #803,605
  • Jan 18, 2024 5:40am Jan 18, 2024 5:40am
Quoting Whale
{quote} i think today dxy will go down with the news. Dollar is going down imo big time next week {image}
What makes you think that? Just price action?
Im not a guess Type trader, i See and react.
But if you ask me for my guess, i would say the daily candle will flipp bullish, but ofcourse thats just a guess.
1k to 100k Copy Trading All Time Return: 367.9%
  • #803,606
  • Jan 18, 2024 5:46am Jan 18, 2024 5:46am
Quoting Thomas.
{quote} What makes you think that? Just price action? Im not a guess Type trader, i See and react. But if you ask me for my guess, i would say the daily candle will flipp bullish, but ofcourse thats just a guess.
look at my chart again.. it could turn bullish but it will crush later.. tomorrow or next week...
and yes, price action.
if you have better ways for forecasting share with me
  • #803,607
  • Jan 18, 2024 5:51am Jan 18, 2024 5:51am
its hard to write down what you see on chart.


Based on my strategy


market opened this week at 1.27 and should target next quarter level 1.25 within 3 days, it failed as such the trend should go back to the starting quarter point 1.2750 from the Half point at 1.2625.

we saw a strong rejection yesterday at 1.26 from asia, i would only expect price to go there again before 1.2750 quarter level weekly open

NOT A TRADE SIGNAL
MY OPINION NOT FINANCIAL ADVISE
  • #803,608
  • Jan 18, 2024 6:02am Jan 18, 2024 6:02am
Quoting eyefeelsix
{quote} a sudden aggressive bearish movement, I have to respect my own decision - trailing stop exited all long {image}

MSS? or LQG? idk --- sl in place

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  • #803,609
  • Jan 18, 2024 6:06am Jan 18, 2024 6:06am
Quoting eyefeelsix
{quote} MSS? or LQG? idk --- sl in place {image}
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  • #803,610
  • Jan 18, 2024 6:09am Jan 18, 2024 6:09am
Quoting bonsmith
{quote} {image}
ok that's what you want let's see what the market want
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  • #803,611
  • Jan 18, 2024 6:16am Jan 18, 2024 6:16am
Quoting eyefeelsix
{quote} MSS? or LQG? idk --- sl in place {image}
i never quite understood the use of a fib tool - it gives you ~10 arbitrary levels to look at, most of which are at prices which mean nothing to market participants, then when one seems to be tested, (give or take a few pips to make it fit your narrative that the tool holds any weight), you will swear by it; you may aswell just draw random lines within a range and trade off of them, no?
  • #803,612
  • Jan 18, 2024 6:19am Jan 18, 2024 6:19am
Bit of upward movement on Gold, I put on a buy stop at 2013 just on the off chance we get some buying happening...
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Don't Leave Money on the Table
  • #803,613
  • Jan 18, 2024 6:21am Jan 18, 2024 6:21am
Quoting ScalaFX
Gold long 2004.70
closed all 2016, nice
People don't plan to lose. They lose because they don't plan.
  • #803,614
  • Jan 18, 2024 6:22am Jan 18, 2024 6:22am
Quoting billGU
you may aswell just draw random lines within a range and trade off of them, no?
... you can. Not profitably, necessarily, but with just as much reasoning and conviction as using any other magical thinking.
Congratulations ScalaFX for coming out of the closet!
  • #803,615
  • Jan 18, 2024 6:24am Jan 18, 2024 6:24am
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  • #803,616
  • Jan 18, 2024 6:24am Jan 18, 2024 6:24am
12690 just resisting hard… feels like anytime now we will see 127+ but then again maybe we won’t and data may push this down back to 126. Hard to tell
Insane in the Brain..
  • #803,617
  • Jan 18, 2024 6:25am Jan 18, 2024 6:25am
Quoting Headland
{quote} Hi Pat. Do you mind me asking, to what extent does say the close of an obvious opposing candle on the next higher t/f (s) put you off if entering a trade at that time. In your live example above where you have added long @ that 1hr order block @ the Asian/current dly lo, did the 4hr bearish hammer close put you off for example? For me it doesn't tend to if I have a set-up (s) on the relevant t/f s, and PA confirms a trigger, because I am a scalper on the lower t/f's. so mostly smaller targets, but you are on higher t/f's like 30min/4hr....
Headland Sir,

I appreciate your intriguing question!
With my limited current English vocabulary, I will try to answer it as best I could.


Q : How much does a bearish candle closing (meaning its final price) on a higher timeframe (like 4 hours) affect your decision to enter a long trade (buying) on a lower timeframe (like 1 hour)?
Q : In your example where you bought (went long) based on a 1-hour order block at the Asian session low (opening price), did the bearish hammer candle on the 4-hour chart make you hesitant to enter the trade?


Answer:
The preceding H4 bearish candle prior to entry functioned as a strategic inducement for short seller participation.
This manipulation, likely orchestrated by the market maker, aimed to secure liquidity below those levels, as evidenced by the subsequent H1 price action (chart enclosed).

While the H4 bearish hammer could be interpreted as a sign of weakness, I view it primarily as a manufactured liquidity grab offering an optimal entry point for long positions.

Operating on longer timeframes necessitates patience in awaiting confirmation of high-probability setups.
However, seamlessly switching between H4 and M30 analysis provides valuable insights into intraday price dynamics.
Daily timeframes remain paramount for establishing key support and resistance levels guiding potential price action.

However, there's a chance I might have missed some nuances.
Could you please clarify if you feel anything needs further explanation?
I'm always happy to refine my understanding.

Best Wishes
PAT Chiko

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I come from the future.
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  • #803,618
  • Jan 18, 2024 6:28am Jan 18, 2024 6:28am
Quoting eyefeelsix
{quote} MSS? or LQG? idk --- sl in place {image}
When you really believe that trading is simply a probability game, concepts like right or wrong or win or lose no longer have the same significance.
Mark Douglas
  • #803,619
  • Jan 18, 2024 6:31am Jan 18, 2024 6:31am
Come on drop allready goldi mf
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yes yes yes
  • #803,620
  • Jan 18, 2024 6:33am Jan 18, 2024 6:33am
Quoting billGU
{quote} i never quite understood the use of a fib tool - it gives you ~10 arbitrary levels to look at, most of which are at prices which mean nothing to market participants, then when one seems to be tested, (give or take a few pips to make it fit your narrative that the tool holds any weight), you will swear by it; you may aswell just draw random lines within a range and trade off of them, no?
If you can't read my chart along with the Fibo, it means we are at different trading levels

and yes, maybe my trading level is lower than yours
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