Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

Last Post
1 40345 40346 Page 40347 40348 40349 43749
1 Page 40347 43749

#806,921
Feb 2, 2024 3:48am Feb 2, 2024 3:48am

BigNumbers
| Commercial User | Joined Jul 2021 | 3,279 Posts

Always watch the candles. That’s the secret man!
A 12 month resistance or support level can be repriced. So why this noise about support and resistance. No matter how strong a level is. IT CAN STILL BE REPRICE.

So there is no such thing as “this is a very strong resistance and support level and I believe in this level.

NO LEVEL IS TOO STRONG AND NO LEVEL IS TOO WEAK!

What matters is what the price make of the level when it arrives. That’s called repricing!!!

My telegram: https://t.me/avidforex

#806,922
Feb 2, 2024 3:50am Feb 2, 2024 3:50am

Headland
Joined Apr 2020 | Status: Trader | 8,804 Posts

...my favored tactics re NFP are to;

a. Get involved with any momentum on close of 1st 1min candle - if my edge's rules/conditions are met. (spreads allowing)
b. On any strong uni-directional reaction, then it's
i. Sell the 1st hi/buy the 1st p/back,
-or-
ii. Buy the 1st lo/sell the 1st p/back,

again, if my edge's rules/conditions are met.

The best advice for such potentially big market-moving scheduled event risks is to follow price, not what you think price should be doing. -or- if unsure STAY OUT! There are plenty more trading opportunities during any typical week/month.

Trader with an Edge.

#806,923
Feb 2, 2024 3:52am Feb 2, 2024 3:52am

azhantahir
Joined Jun 2020 | Status: NY flip project. Probability games | 3,521 Posts

Quoting BigNumbers

Disliked

Always watch the candles. That’s the secret man! A 12 month resistance or support level can be repriced. So why this noise about support and resistance. No matter how strong a level is. IT CAN STILL BE REPRICE. So there is no such thing as “this is a very strong resistance and support level and I believe in this level. NO LEVEL IS TOO STRONG AND NO LEVEL IS TOO WEAK! What matters is what the price make of the level when it arrives. That’s called repricing!!!

Ignored

Agreed. Now u got it

Look right, we'll see the signs

#806,924
Feb 2, 2024 3:53am Feb 2, 2024 3:53am

Ehminiz
Joined Apr 2020 | Status: Trader | 645 Posts

Quoting Headland

Disliked

...my favored tactics re NFP are to; a. Get involved with any momentum on close of 1st 1min candle - if my edge's rules/conditions are met. (spreads allowing) b. On any strong uni-directional reaction, then it's i. Sell the 1st hi/buy the 1st p/back, -or- ii. Buy the 1st lo/sell the 1st p/back, again, if my edge's rules/conditions are met. The best advice for such potentially big market-moving scheduled event risks is to follow price, not what you think price should be doing. -or- if unsure STAY OUT! There are plenty more trading opportunities during...

Ignored

Exactly what i do.

But with proper Risk. Risk is important in this

#Stay blue. /swinger/scalper/

#806,925
Feb 2, 2024 3:56am Feb 2, 2024 3:56am

Headland
Joined Apr 2020 | Status: Trader | 8,804 Posts

Quoting dantpm

Disliked

{quote} I count 14 candles that could potentially by engulfed by a 60 minute candle, but some bullish and some bearish. Do you suspect that this suggests a bullish move because its up?

Ignored

Hi. Well, it's certainly a bullish sign/indicative/suggestive of future bullishness (NFP excepted,) isn't it? Some may even know the historical probability of a master bullish engulfing on this pairing, on this t/f, in bullish conditions, and whether it's the greater probability or not,? whether or not that probability plays out on this particular occasion. Right now price has reached/tested the prev 30min/possibly to become a prev 1hr sw hi zone that extends to current dly hi.

1hr below

Attached Image (click to enlarge)

Click to Enlarge

Name: screenshot.png
Size: 21 KB

Trader with an Edge.

#806,926
Feb 2, 2024 3:58am Feb 2, 2024 3:58am

firsttimer
| Joined Oct 2011 | Status: Trader | 622 Posts

Quoting BigNumbers

Disliked

Always watch the candles. That’s the secret man! A 12 month resistance or support level can be repriced. So why this noise about support and resistance. No matter how strong a level is. IT CAN STILL BE REPRICE. So there is no such thing as “this is a very strong resistance and support level and I believe in this level. NO LEVEL IS TOO STRONG AND NO LEVEL IS TOO WEAK! What matters is what the price make of the level when it arrives. That’s called repricing!!!

Ignored

just want to add that high can get higher or low can get lower.

trade safe.

risk management is key.

#806,927
Feb 2, 2024 3:58am Feb 2, 2024 3:58am

BigNumbers
| Commercial User | Joined Jul 2021 | 3,279 Posts

Many traders get frustrated after marking out a resistance or support level and waiting for days for price to arrive and then price arrives and the opposite happens and they think trading is not meant for them.

This is because the level has been REPRICED. We are meant to believe on the H1 that we are in a STRONG resistance level. But now we are repricing the resistance level.

I wish I can explain it better but Go and study candle stick

My telegram: https://t.me/avidforex

#806,928
Feb 2, 2024 3:58am Feb 2, 2024 3:58am

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

Took short gold

Attached Image (click to enlarge)

Click to Enlarge

Name: Screenshot_2024-02-02-11-57-40-141_net.metaquotes.metatrader4-edit.jpg
Size: 790 KB

yes yes yes

#806,929
Edited 4:30am Feb 2, 2024 4:04am | Edited 4:30am

Pranjal
| Joined Jul 2023 | Status: Trader | 179 Posts

DXY and GBPUSD

Attached Image(s) (click to enlarge)

Click to Enlarge

Name: DXY 102.946 â–¼ âˆ’0.12% Unnamed - Google Chrome 02-02-2024 15_31_51.png
Size: 142 KB

Click to Enlarge

Name: DXY 102.946 â–¼ âˆ’0.12% Unnamed - Google Chrome 02-02-2024 15_32_52.png
Size: 143 KB

#806,930
Feb 2, 2024 4:06am Feb 2, 2024 4:06am

BigNumbers
| Commercial User | Joined Jul 2021 | 3,279 Posts

Monthly Quote

“The best views come after the hardest climb”

My telegram: https://t.me/avidforex

#806,931
Feb 2, 2024 4:08am Feb 2, 2024 4:08am

azhantahir
Joined Jun 2020 | Status: NY flip project. Probability games | 3,521 Posts

Quoting azhantahir

Disliked

{quote} Scalps. 2nd round. Target missing OB {image}

Ignored

GBPUSD scalps

TP1 or TP2. target missing OB

edited

Attached Image (click to enlarge)

Click to Enlarge

Name: screenshot.png
Size: 16 KB

Look right, we'll see the signs

#806,932
Feb 2, 2024 4:09am Feb 2, 2024 4:09am

Headland
Joined Apr 2020 | Status: Trader | 8,804 Posts

...Above the prev sw hi zones to 2775 then 2785, the dly part of the prev 1hr/4hr/dly/minor wkly sw hi zone = prev res = pot res to 2828 starts @ circa 2800. There is a Mthly desc t/line that joins 4249 with 3142 and on today's dly candle comes thru circa 2850-55 around a longer-term 85.4% fib. Mthly R1, then Dly R1 then Wkly R2, then Dly R2 lead up to it.

Trader with an Edge.

#806,933
Feb 2, 2024 4:11am Feb 2, 2024 4:11am

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

GU: H4
NFP Bull Target @ 1.2827
Trade Safe

Attached Image (click to enlarge)

Click to Enlarge

Name: Screenshot_5.jpg
Size: 520 KB

Intraday Trading is an Art _ hoda

#806,934
Feb 2, 2024 4:14am Feb 2, 2024 4:14am

BigNumbers
| Commercial User | Joined Jul 2021 | 3,279 Posts

Today’s NFP is going to be crazy!!

We may end up with a daily or weekly Whipsaw Candle!

Attached Image (click to enlarge)

Click to Enlarge

Name: B9CDB4F8-8A60-4C31-9991-DA8F294DCC1C.jpeg
Size: 358 KB

My telegram: https://t.me/avidforex

#806,935
Feb 2, 2024 4:14am Feb 2, 2024 4:14am

worho
| Joined Sep 2013 | Status: Trader | 12 Posts

Price is struggling to get to the next resistance zone of 1.2778 - 1.2780. However, there would be a consolidation soon as there are series of red news coming up within the next 3hrs. It's still not a good time to sell yet, as price may overshoot the resistance and extend up to 1.2800. We cannot however, rule out the possibility of a downward move. At this point, it's best to set pending orders or hedge with caution.

#806,936
Feb 2, 2024 4:20am Feb 2, 2024 4:20am