Cable Update (GBPUSD)

Quoting HaLBot

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Bullish Day {image}

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Quoting Headland

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...tested very top of that prev 1hr/4hr sw lo zone = prev supp = pot sbr, the 4hr part to aforementioned circa 2655...nice lower t/f short set-ups there...5min as an eg below...one of those aforementioned whole classic reversal candles closing outside the 20 bol, (white band) with bearish reg div. These are v.high in probability of gaining pips, but I did trade one the other day that failed! 5min below {image}

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Quoting OperaniyiFx

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Long GU 1.2620 TP 30pips SL open

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Quoting TraderFX.Id

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{quote} so you are use bbands to confirm trend?

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Quoting Headland

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{quote} Hi. No, not for trend. For chart conditions on whatever t/f (trend or ranging) I use 3 candle fractal swing analysis, ( L, LH, LL -or- H, HL-HH, ) and I do this manually. The bol bands (or volatility bands as they should really be described,) are for 'extreme deviation' from the mean. Ie on any t/f the 20bols contain 95% of price action, so when price veers outside them we can expect a snap back inside them, @ some point, typically @ potential supp/res/sbr/rbs, - is the simple explanation.

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Quoting TraderFX.Id

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looks like a bulltrap..im short 2636 sl 2666

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Quoting Headland

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{quote} Hi. No, not for trend. For chart conditions on whatever t/f (trend or ranging) I use 3 candle fractal swing analysis, ( L, LH, LL -or- H, HL-HH, ) and I do this manually. The bol bands (or volatility bands as they should really be described,) are for 'extreme deviation' from the mean. Ie on any t/f the 20bols contain 95% of price action, so when price veers outside them we can expect a snap back inside them, @ some point, typically @ potential supp/res/sbr/rbs, - is the simple explanation.

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Quoting Tools

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Happy Monday: {image} TP: 1.252 - Maybe I will close down partitialy some to gain soem fast money for other trades.

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Quoting TraderFX.Id

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{quote} on M5 i saw shooting star and full body candle outside bbands..make me sure its a bull trap

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Quoting Headland

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{quote} I'm never 'sure' of anything lol,! but the more 'perfect' the repeating set-up @ repeating pre-identified potential supp/res/sbr/rbs factors, the greater the probability of a successful outcome, and therefore the greater the risk used, is the way my edge works.

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Quoting navk

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{quote} Monday - ( + 8.44 % ) tuesday - ( + 3.66 % ) Wednesday - ( - 3.75 % ) Thursday - ( +11.43 % ) Friday - ( + 8.26 % ) Total for the week - ( + 30.41 % ) on a cumulative basis.

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Quoting parsfx

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My view Daily chart {image}

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Quoting birdland

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{quote} that is good and robust. i have found less literatur about this factor, but for me its the most important one to show if longterm a strategy is robust. in theory the profit factor PF is a trading performance indicator that shows the expected returns in relation to the risk. It is calculated by dividing the sum of all profits by the sum of all losses. A strategy with a PF of 1.2, for example, which generates a profit, is often not worth the risk and effort, and will usually lose in the long term. i always check my strategies if they have...

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