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Cable Update (GBPUSD)

  • #805,061
  • Jan 25, 2024 5:25am Jan 25, 2024 5:25am
Come on!!!!!!
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yes yes yes
  • #805,062
  • Jan 25, 2024 5:26am Jan 25, 2024 5:26am
FFS guys slow down; I'm trying to take notes...

Markets... change...

Ok, continue.
Congratulations ScalaFX for coming out of the closet!
  • #805,063
  • Jan 25, 2024 5:36am Jan 25, 2024 5:36am
Trade long at the gu went good
For 15 pips
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yes yes yes
  • #805,064
  • Jan 25, 2024 5:44am Jan 25, 2024 5:44am
Possible short H1

The current upswing is part of the h4 downswing , however D1 is in an upswing which makes the H4 downswing corrective so any move down could be considered an impulse within the H4 corrective move
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Follow The Markets Structure - Patience and Discipline
  • #805,065
  • Jan 25, 2024 5:45am Jan 25, 2024 5:45am
...a prev 30min minor sw lo zone = prev supp = pot supp / 50% of the day's current rise, and DP @ the current p/back lo off that current dly hi.

1hr below
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Trader with an Edge.
  • #805,066
  • Jan 25, 2024 5:47am Jan 25, 2024 5:47am
Quoting Pat Chiko
{quote} GU My view on LO set up. Any constructive comment is welcome, even if you disagree, as it helps us develop and improve our knowledge. I'm eager any feedback, especially if you have different perspectives, as it make me see in others pespective. Thanks in advance PAT{image}
GU

Revise set up.
Very interesting trading GU as price movement are full of action dragging both seller /buyer into wrong side.
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #805,067
  • Jan 25, 2024 5:51am Jan 25, 2024 5:51am
Quoting Pat Chiko
{quote} GU Revise set up. Very interesting trading GU as price movement are full of action dragging both seller /buyer into wrong side.{image}
Hi Pat. Based on a multi-year large sample on the dly t/f on this gbpusd pairing, the chances of a bearish dly candle printing today is < 50% based on y/day's bullish engulf in an upswing on the t/f. Doesn't mean to say it won't happen of course, it could and be part of the lower probability not the greater probability on this particular occasion/instance.
Trader with an Edge.
  • #805,068
  • Jan 25, 2024 5:52am Jan 25, 2024 5:52am
picked a small long 2728
sl 2699 0,15%
tgt 2870

will move sl @be if price prints 2748

edit: SL is 0.15%
90% of traders use TA, indicators and prediction
  • #805,069
  • Jan 25, 2024 5:58am Jan 25, 2024 5:58am
Quoting Headland
{quote} Hi Pat. based on a multi-year large sample on the dly t/f on this gbpusd pairing, the chances of a bearish dly candle printing today is < 50% based on y/day's bullish engulf in an upswing on the t/f. Doesn't mean to say it won't happen of course, it could and be part of the lower probability not the greater probability on this particular occasion/instance.
Hi Headland.

While the H1 structure broke up and filled the FVG (purple), I wouldn't rule out a pump up in the NY session before it retraces for the lower OB (red).
With the H1's bullish pattern and FVG completion, a potential upward extension towards the upper OB could occur before retracement to the lower OB

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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #805,070
  • Jan 25, 2024 5:59am Jan 25, 2024 5:59am
For 15 pips
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yes yes yes
  • #805,071
  • Jan 25, 2024 6:18am Jan 25, 2024 6:18am
Quoting _BBKing_
picked a small long 2728 sl 2699 0,15% tgt 2870 will move sl @be if price prints 2748 edit: SL is 0.15%
feels more like a gamble than a trade
90% of traders use TA, indicators and prediction
  • #805,072
  • Jan 25, 2024 6:25am Jan 25, 2024 6:25am
Quoting Pat Chiko
{quote} Hi Headland. While the H1 structure broke up and filled the FVG (purple), I wouldn't rule out a pump up in the NY session before it retraces for the lower OB (red). With the H1's bullish pattern and FVG completion, a potential upward extension towards the upper OB could occur before retracement to the lower OB {image}
Yeh, it's a plausible scenario. Let's see what actually plays out, and may be affected by this upcoming U.s data.
Trader with an Edge.
  • #805,073
  • Jan 25, 2024 6:41am Jan 25, 2024 6:41am
Quoting Moty
For 15 pips {image}
nice entry
  • #805,074
  • Jan 25, 2024 6:45am Jan 25, 2024 6:45am
Quoting _BBKing_
{quote} feels more like a gamble than a trade

Totally get you, dude.
Feeling unsure or hesitant about a trade is totally normal, and even experienced traders feel that way sometimes.
It's all about managing risk and protecting your capital.

In case you want coin toss tips, you may ask the expert here "Waveskie"

Honestly, instead of thinking of it as a gamble, maybe consider it as an exploration.
We're testing a hypothesis based on our analysis, and if it doesn't pan out, it's a valuable learning experience.
Remember, not every trade needs to be a winner.
Even I'm not sure my set up will pan out nicely ...

Market makers are out there, but the more we understand their tactics and learn to read the bigger picture, the better we can make informed decisions.
They will make the market be confusing and sometimes manipulative.

If you're not feeling confident about this specific setup, that's okay!
Maybe waiting for a clearer signal or focusing on other opportunities that align better with your risk tolerance would be a good strategy.
Feeling doubtful or uncertain doesn't make you any less of a trader.
It just means you're being responsible and cautious, which are great qualities to have in this game.


Take care and don't gamble.
Better buy something to smoke.........

Best Wishes

PAT
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #805,075
  • Jan 25, 2024 6:50am Jan 25, 2024 6:50am
Quoting Headland
{quote} Yeh, it's a plausible scenario. Let's see what actually plays out, and may be affected by this upcoming U.s data.
That's what we 'need', a good spike to rebalance things, farm a little liquidity that sort of thing!

  • #805,076
  • Jan 25, 2024 7:03am Jan 25, 2024 7:03am
Quoting Pat Chiko
{quote} Totally get you, dude. Feeling unsure or hesitant about a trade is totally normal, and even experienced traders feel that way sometimes. It's all about managing risk and protecting your capital. In case you want coin toss tips, you may ask the expert here "Waveskie" Honestly, instead of thinking of it as a gamble, maybe consider it as an exploration. We're testing a hypothesis based on our analysis, and if it doesn't pan out, it's a valuable learning experience. Remember, not every trade needs to be a winner. Even I'm not sure...
yes that's the point indeed!
I mean, ok I opened this trade based on my actual perception of the surrounding scenario, included the fact that apparently the whole (trading) world is expecting a super USD, while by my side I just see that every country is doing anything to weaken their currency.

But (lol)

the very second right after I pick the trade, I realise I'm exactly in the middle of everything, my stop is too tight, my tgt is outrageous, the size makes no sense, and the more I look at chart, the more I understand that price is litterally showing nothing at this moment. it's perfectly in the middle of a 6weeks "balance area" between 1.2820 and 1.26. So, at this moment, it's a 50% chance. Just a coin toss.

Will try to hold this coin for a while and see if this comes a profitable bet.

btw: I have a very good strategy which lately, due to market moves, gave great opportunities during Asia and early morning London. I'm on my desk starting from London noon. LOL. But this is just a matter of cycling the price around and soon I will have monster profitable days

btw: I sadly had to quit smoking, caused me anxiety. Missing those days

EDIT: typo
90% of traders use TA, indicators and prediction
  • #805,077
  • Jan 25, 2024 7:07am Jan 25, 2024 7:07am
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yes yes yes
  • #805,078
  • Jan 25, 2024 7:07am Jan 25, 2024 7:07am
LESSON FROM PRO TRADER IN U.K. ---a few years ago, a successful prop firm trader in the UK taught me this pattern: Assuming you're bullish, wait for market structure to be broken (yessterday/white line @ 1.2747) then look to the left of chart, locate swing lows (2 white lines below), and as Ray would say: "...this is how professionals trade the 'head & shoulders' pattern." of course... it doesn't ALWAYS work, but it is fairly reliable. theory being, buy in the green boxes. full disclosure--- no, I'm not long from 2705. I was asleep at the time. I need to get bolder and use Limit orders more often.

what ICT taught me was to use previous highs above (i.e. in this case, the 12/28/24 and 1/12/24 highs as profit targets , where buy-side liquidity is assumed to be resting.
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  • #805,079
  • Jan 25, 2024 7:14am Jan 25, 2024 7:14am
Time to go Up
My telegram: https://t.me/avidforex
  • #805,080
  • Jan 25, 2024 7:16am Jan 25, 2024 7:16am
Quoting Moty
{image}
in my humble opinion...if you're right Moty, sell side liquidity is assumed to be resting in the 1.2630 to 1.2650 range. you could hold one small position until then and make a little more.
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