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Cable Update (GBPUSD)

  • #831,481
  • Jul 5, 2024 9:04am Jul 5, 2024 9:04am
Quoting Fardeen1209
{quote} 1 thing i understand in trading, is, no standalone tool will give you an edge. But by combining them in such a way that every tools you used point towards the highest possible price movement MAJORITY of the time, that gives you an edge over a significant number of trades. You will see no matter what you do, at the end of certain time, you always end with profits/losses for the mixture of the tools. Try to mix ICT or SMC with multiple timeframe Market structure, you will see when it is most likely to work and when not. You will also see,...
I might agree that no standalone tool will give you an edge but it doesnt make sense to mix up shit with shit. You’ll get even shittier results. Let me explain.
Technical analysis is primarily visual and proven over and over that it doesn’t work(plenty of empirical evidence out there, google it). Now you SMC and FVG, ICT users combine shit with shit. Result = shit, easy. The only reason TA works is because majority of people believe that at this price level - like you mentioned: multitimeframe SMc, FVG, or FIB, Moving average, pivots overlapped then it worked. Again only because majority of people at that point believed that price will bounce up/down and executed.
Basic supply and demand but it wasn’t because of SMC or FVG

I’m sure a lot of folks here will find more consistency in trading by looking at the education brokers provide and follow 4h/daily/weekly TF fibs/moving averages, std or similar shit than gambling with this SMC, ICT bs and being broke and sitting behind computer 24/7. It won’t make you rich because it’s elementary school “edge”. But might offer better life quality to pursue educating yourself in real science that might lead to an edge.
How to succeed in zero sum game?
  • #831,482
  • Jul 5, 2024 9:08am Jul 5, 2024 9:08am
spinning tops always fall down
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short trump and go long the deepstate
  • #831,483
  • Edited 9:25am Jul 5, 2024 9:12am | Edited 9:25am
Quoting dempire1
{quote} I might agree that no standalone tool will give you an edge but it doesnt make sense to mix up shit with shit. You’ll get even shittier results. Let me explain. Technical analysis is primarily visual and proven over and over that it doesn’t work(plenty of empirical evidence out there, google it). Now you SMC and FVG, ICT users combine shit with shit. Result = shit, easy. The only reason TA works is because majority of people believe that at this price level - like you mentioned: multitimeframe SMc, FVG, or FIB, Moving average, pivots overlapped...

you forgot to mention all technical analysis that keeps getting recycled was developed on daily charts...the old timers didn't fuck around on 5 min charts since they didn't have computers LOL


so all those ICT and elliott wave guys that try to shoehorn TA into a 1 or 5 or 15 minute chart are losers that's why 95% don't make money
short trump and go long the deepstate
  • #831,484
  • Jul 5, 2024 9:14am Jul 5, 2024 9:14am
the higher up in time you trade the more reliable is TA
short trump and go long the deepstate
  • #831,485
  • Jul 5, 2024 9:14am Jul 5, 2024 9:14am
Quoting elude
Looks like btcusd is going down, as seen from the weekly-daily chart. Sell 54324.20 / SL 55673.7 (±0.75%) / TP 00.00 (Will put later)
SL hit, could be too tight. No sweat.
  • #831,486
  • Jul 5, 2024 9:19am Jul 5, 2024 9:19am
A close above 128 will be interesting for Monday. However the French elections might give us a bearish start to Monday
Insane in the Brain..
  • #831,487
  • Jul 5, 2024 9:19am Jul 5, 2024 9:19am
not knew what the news are , anyway extreme craziness halt at least at an earliest. still top ranging to culminate before all done at a top for noiw perhaps , waiting if can take few pips here and there . take care
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #831,488
  • Jul 5, 2024 9:21am Jul 5, 2024 9:21am
Expecting a good swing journey lol
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  • #831,489
  • Jul 5, 2024 9:23am Jul 5, 2024 9:23am
H4 Adaptive MA om M15 chart with Trendlines.
LOOKs like a buy.
could be wrong
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in wondering about yourself, you forgot what you came here to be part of
  • #831,490
  • Jul 5, 2024 9:26am Jul 5, 2024 9:26am
Quoting BeeTogether
A close above 128 will be interesting for Monday. However the French elections might give us a bearish start to Monday
and if close H4 now below 2778 and give signal 2758 then may confirm at 2733 for top failure to bottom and more bear ! below 2784 as usual play now though
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #831,491
  • Jul 5, 2024 9:28am Jul 5, 2024 9:28am
Quoting Zebi
{quote} you forgot to mention all technical analysis that keeps getting recycled was done on daily charts...the old timers didn't fuck around on 5 min charts since they didn't have computers LOL so all those ICT and elliott wave guys that try to shoehorn TA into a 1 or 5 or 15 minute charts are losers that's why 95% don't make money
daily TF because it’s most attainable data you can get to backtest strategies. 1 min and 5 min data might not be as clean as daily. You’ll have to pay to get reliable low tf data. Cannot comment on elliot waves, idk what it is. Seems like some sort of TA, nothing else. Old timers have always had computers, fibs have been programmed in late 90s already.
They don’t make money because they don’t have an edge in business. If you don’t have an edge it’s better to stick with majority.
How to succeed in zero sum game?
  • #831,492
  • Jul 5, 2024 9:43am Jul 5, 2024 9:43am
Quoting dempire1
{quote} daily TF because it’s most attainable data you can get to backtest strategies. 1 min and 5 min data might not be as clean as daily. You’ll have to pay to get reliable low tf data. Cannot comment on elliot waves, idk what it is. Seems like some sort of TA, nothing else. Old timers have always had computers, fibs have been programmed in late 90s already. They don’t make money because they don’t have an edge in business. If you don’t have an edge it’s better to stick with majority.

the old timers I meant were dow,wyckoff etc from over a 100 years ago ... all so called price action trading is derived from them LOL

sounds like you have your head on right even if you are a millennial
short trump and go long the deepstate
  • #831,493
  • Jul 5, 2024 10:46am Jul 5, 2024 10:46am
as ranges top , short scalping taken to see ,how far it may go ! at 2809 . sl over 2813, next signal can be 04 , breakout 00!if works then target may below 2784
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #831,494
  • Jul 5, 2024 10:50am Jul 5, 2024 10:50am
How this on Bring A Trailer, ex Rod Stewart Lamborghini Countach....very nice
IMO the most outrageous car ever produced

https://bringatrailer.com/listing/19...ni-countach-2/
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Don't Leave Money on the Table
  • #831,495
  • Jul 5, 2024 11:21am Jul 5, 2024 11:21am
Good start this first week of July for me almost 1k, much better already than the whole of June . 1k a week keeps the doctor at bay
Now the trick is to keep it that way for the whole of the month
Don't Leave Money on the Table
  • #831,496
  • Jul 5, 2024 11:32am Jul 5, 2024 11:32am
Quoting dempire1
{quote} I might agree that no standalone tool will give you an edge but it doesnt make sense to mix up shit with shit. You’ll get even shittier results. Let me explain. Technical analysis is primarily visual and proven over and over that it doesn’t work(plenty of empirical evidence out there, google it). Now you SMC and FVG, ICT users combine shit with shit. Result = shit, easy. The only reason TA works is because majority of people believe that at this price level - like you mentioned: multitimeframe SMc, FVG, or FIB, Moving average, pivots overlapped...
Agreed
relying only on T.A isnt enough.
It requires psychology, probability and the big ass mathematical equation that prove you have an edge and a good money management strategy.
T.A is only for execution.
Price shows rejection at a level is one thing, but for price to move from your entry to your TP also requires that the fundamentals to be on your side. So a good understanding of economics puts you in an advantageous position.
Idk about brokers education, cause majority of them are full sh*t and requires you to put on more trades. So they can bank on commission. This industry is run by full of conflict of interest. The only person a trader can trust is himself.
More time in the market, does not mean you trade better!
  • #831,497
  • Jul 5, 2024 11:44am Jul 5, 2024 11:44am
levels of care 2791/89 as can bounce if very strong bull , though as halt not in ! take care
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #831,498
  • Jul 5, 2024 11:49am Jul 5, 2024 11:49am
I posted this weekly chart of the Aussie yesterday adding a trendline.
I'm of the firm belief it's run lower is over and there is good buying opportunities for the Aussie, at forexlive.com their talking about the Aussie breaking out so others are seeing the same.
I could be wrong and make sure you do your own analysis....
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Don't Leave Money on the Table
  • #831,499
  • Jul 5, 2024 11:53am Jul 5, 2024 11:53am
I caught the spike this morning on a Buy Stop and it worked beautifully.

I'm coming around to enjoying trading the news these days. Getting in and out on a Friday always leaves me in a good mood.

On top of that, the pullback on this and the related pairs is going to really create a lot of setups for the coming several days. I was hoping for this as so many of them had recently hit long-term resistance levels. Can't ask for more than that.

As of July 5th: 12 - 0. But I always close early.

Have a great weekend all!
Golden nuggets of wisdom not offered here.
  • #831,500
  • Jul 5, 2024 11:59am Jul 5, 2024 11:59am
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Golden nuggets of wisdom not offered here.
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