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Cable Update (GBPUSD)

  • #809,341
  • Feb 14, 2024 2:26am Feb 14, 2024 2:26am
hoping for another 50 pips before any ranging so I can hold until news for a further drop
  • #809,342
  • Feb 14, 2024 2:28am Feb 14, 2024 2:28am
Quoting Zebi
{quote} just remember in usd pairs its the dollar that rules...nobody gives a shit what the other currency thinks but still use trailing stops
thats why I study the dxy and it's correlation to forex man it does move everything right across the board so I would never trade against it when it's on highs thats ludicrous
  • #809,343
  • Feb 14, 2024 2:29am Feb 14, 2024 2:29am
Quoting Godspromise
Zebi do you think we will get a further 80 pips today?
Hi. Or of course you could use probabilities of that happening as if Zebi, I, or anyone took what we think and say £1 to the bank to deposit it, we would still only have £1 on deposit. Eg; Pips already traveled today + another 80pips would be 173% of 30day adr, (doesn't matter what period you use.) So on how many occasions over a representative sample has price traveled 172% of, in this case, 30 day adr? That will give you the probability of what you are asking. No need for opinion or guesswork or prediction. The market doesn't care what we think.
Trader with an Edge.
  • #809,344
  • Feb 14, 2024 2:31am Feb 14, 2024 2:31am
Quoting Yngwie
Long 1.2547
Closed it right on support.. nice!
  • #809,345
  • Feb 14, 2024 2:33am Feb 14, 2024 2:33am
Adding to long at 12550
Insane in the Brain..
  • #809,346
  • Feb 14, 2024 2:34am Feb 14, 2024 2:34am
It's possible this session will make an overkill and US session will be quiet...
  • #809,347
  • Feb 14, 2024 2:34am Feb 14, 2024 2:34am
Quoting Headland
{quote} Hi. Or of course you could use probabilities of that happening as if Zebi, I, or anyone took what we think and say £1 to the bank to deposit it, we would still only have £1 on deposit. Eg; Pips already traveled today + another 80pips would be 173% of 30day adr, (doesn't matter what period you use.) So on how many occasions over a representative sample has price traveled 172% of, in this case, 30 day adr? That will give you the probability of what you are asking. No need for opinion or guesswork or prediction.
GU has kissed the ADR and made a feeble bounce...but ICT doesnt teach that...does he?

he teaches to buy at sup/res not daily range so maybe it will still fall to 2020ish by new yorks close unless BOE starts selling dollars

the green lines are tradingvie average daily range
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short trump and go long the deepstate
  • #809,348
  • Feb 14, 2024 2:38am Feb 14, 2024 2:38am
Quoting Zebi
{quote} GU has kissed the ADR and made a feeble bounce...but ICT doesnt teach that...does he? he teaches to buy at sup/res not daily range so maybe it will still fall to 2020ish by new yorks close unless BOE starts selling dollars the green lines are tradingvie average daily range {image}
Hi, thanks. I have never looked at ICT so I don't know. Keep hearing about it though. BOE to an almost certainty will not be intervening in what is the normal ebb and flow of this pairing. This is not a crisis.
Trader with an Edge.
  • #809,349
  • Feb 14, 2024 2:39am Feb 14, 2024 2:39am
Lol. I need a green candle right now, my trades under water already.
Trying a new long from here.1.2545 Tp 1.2600 sl 1.2535
  • #809,350
  • Feb 14, 2024 2:40am Feb 14, 2024 2:40am
Relentless . .
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Wisdom dwells with prudence discovering the knowledge of witty inventions
D-kings lengend trades All Time Pips: 3,675
  • #809,351
  • Edited 2:58am Feb 14, 2024 2:41am | Edited 2:58am
Quoting Headland
{quote} Hi. Or of course you could use probabilities of that happening as if Zebi, I, or anyone took what we think and say £1 to the bank to deposit it, we would still only have £1 on deposit. Eg; Pips already traveled today + another 80pips would be 173% of 30day adr, (doesn't matter what period you use.) So on how many occasions over a representative sample has price traveled 172% of, in this case, 30 day adr? That will give you the probability of what you are asking. No need for opinion or guesswork or prediction. The market doesn't care what...
I understand what your saying headland but I have seen price traveled 300 pips in a day and also 600 pips in gold so the probability maybe low but not nil it all depends on the algorithms and also how the big institutions reacts to the news and data
  • #809,352
  • Feb 14, 2024 2:41am Feb 14, 2024 2:41am
Quoting Headland
{quote} Hi, thanks. I have never looked at ICT so I don't know. Keep hearing about it though.

hes nobody

just a youtube influencer that pretty much everyone copies whos lazy and stupid to read books

they dont even know he stole everything from the oldtimers a 100 years ago.. LOL
short trump and go long the deepstate
  • #809,353
  • Feb 14, 2024 2:43am Feb 14, 2024 2:43am
Quoting DashKing
Who caught this {image}
i did
and kept increasing along the way
90% of traders use TA, indicators and prediction
  • #809,354
  • Feb 14, 2024 2:43am Feb 14, 2024 2:43am
Quoting trumps
{quote} ok dodgy numbers, but this is too easy. im already short from my previously stated 2712 area, but there will be a stop hunt for sure.
still holding short from here.
Compulsions can be hard to resist
  • #809,355
  • Feb 14, 2024 2:44am Feb 14, 2024 2:44am
3 BLACK CROWS potentially being developed on H1.
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  • #809,356
  • Feb 14, 2024 2:44am Feb 14, 2024 2:44am
Quoting Zebi
{quote} hes nobody just a youtube influencer that pretty much everyone copies whos lazy and stupid to read books they dont even know he stole everything from the oldtimers a 100 years ago.. LOL
I saw him never gave him a minute of time sounds so angry and his trading ideas are overly complicated
  • #809,357
  • Feb 14, 2024 2:45am Feb 14, 2024 2:45am
Quoting Headland
...Wkly S1/Dly S1 reached. 76% 30day adr traveled so far today. 79% 13wk (qtr year) awr so far this week. 1hr below {image}
looking at your chart i can see just by i test it can travel another 80-100 pips
  • #809,358
  • Feb 14, 2024 2:49am Feb 14, 2024 2:49am
Quoting smtchris71
Lol. I need a green candle right now, my trades under water already. Trying a new long from here.1.2545 Tp 1.2600 sl 1.2535
Hi. I put a fib extension on that move 3-4 for what is possibly an exp tri on 1hr/2hr, (see files on my profile for what these are if you don't know and are interested.) Price has moved beyond 1.618% of the 3-4 move so the pattern if it develops for a pt 5 long entry has a lower probability than if it developed at it or above it.

1hr below

Quoting Godspromise
{quote} looking at your chart i can see just by i test it can travel another 80-100 pips
Hi. Anything can happen. There is however always what is possible, and what is probable. Of course even what is more probable doesn't always play out on every occassion.
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Trader with an Edge.
  • #809,359
  • Feb 14, 2024 2:52am Feb 14, 2024 2:52am
Quoting Zebi
{quote} a good trader looks at weekly,monthly and quarterly charts so predictions are no big deal cause thats how hedge funds and pension funds trade
I know people earning hundreds thousands € profits, by trading the 1m chart.
also there are large traders, funds etc trading off the 1m chart.
the trade is correct, good.
the trade is wrong, cut.

I'm sorry to tell you but, there is no prediction in trading.
best traders I know, they don’t make predictions. They buy the support, and sell the resistance. Or the buy the price where they are supposed to see more buyers, sell where they suppose there will be more sellers.

lately, I bought the UJ in the support, target the resistance. But that was not a prediction. Too many factors involved in the move,
today I sold the cable to target the support. But I have no idea if price will go to the support or if will stay here 2550 and turn back up.
nobody knows.

by the way, been since several days repeating 2540/50 is the key to be broken.
atm, the buy pressure stoped the move.

must be cautious, can still get up 300pips from here.
90% of traders use TA, indicators and prediction
  • #809,360
  • Feb 14, 2024 2:54am Feb 14, 2024 2:54am
Quoting Zebi
{quote} just remember in usd pairs its the dollar that rules...nobody gives a shit what the other currency thinks but still use trailing stops
wrong assumption.
90% of traders use TA, indicators and prediction
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