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Cable Update (GBPUSD)

  • #838,061
  • Sep 13, 2024 2:15am Sep 13, 2024 2:15am
Quoting Abeylyn
{quote} It's a pure erroneous impression to believe that market is being manipulated by anybody. The big banks, huge fund &. hedged fund and strong news which includes NFP & Interest rate releases. The truth which is difficult to believe is that market is moved around by smart brain who are scattered round the world but interconnected through internet connectivity into decentralized FX market. The first issue in Forex trading is the traders mindset and inability to manage risk effectively. This is because there is always an alternative clear direction...
Exactly this, which is why I always say you are not really playing against the market but against yourself.
  • #838,062
  • Edited 2:31am Sep 13, 2024 2:18am | Edited 2:31am
Quoting Mitiblotch
{quote} Some of us are bloody profitable. Profitability is not a yardstick to determine the veracity of your claims. So long as you are not one of the biggest banks, you have absolutely no idea of the truth of the market, just like every one of us here. Our beliefs have nothing to do with the truth. It is said that all truth is parallel. If there are governments to regulate the affairs of a nations, and the United Nations to regulate most nations under the sun, then you better believe that the Forex market is controlled. The level of interference...
Manipulation and control are two distinct things. Big players will always manipulate but this doesn't mean they are constantly in control.
Regulators, as you said, are setup to stop manipulation but you say there is a possibility of some large scale manipulation going on all the time.
Just imagine what this would mean for the market participants. Especially the central banks. Like I said to you before, the majority of the participants are not taking speculative positions in the market with leverage. They literally just need to convert money from one currency to another. However we are talking HUGE sums here.
Therefore I go back to my original question. If there is a cabal of "MM" controlling things, to what extent? What are they trying to achieve? Because to move the market takes A LOT of money.
  • #838,063
  • Sep 13, 2024 2:19am Sep 13, 2024 2:19am
Quoting randu
Start selling 1.3147
update....
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  • #838,064
  • Sep 13, 2024 2:19am Sep 13, 2024 2:19am
Quoting Mitiblotch
{quote} Equal wicks on a big bodied candle is not indecision. Even the image you posted disagreed with you. For a candle to be an indecision candle it had to have a small body and wicks on both sides just like the candle of Tuesday. There is no forex website or book that will describe Wednesday's candle in your chart as an indecision candle. The indecision is Tuesday's.

Doesn't matter what any person or book will say, as far as I'm concerned neither bulls or bears in control when the wicks are even.
But we all have our own way of looking at things and I take your point that a classic indecision candle is also known as a spinning top. What would you call that candle?
Don't Leave Money on the Table
  • #838,065
  • Sep 13, 2024 2:23am Sep 13, 2024 2:23am
Cable weekly and Monthly
Monthly you now have the 100Month moving average under price and if it does fall probably act as support
Price could fall 200 pips, not saying it can't because we all know what GU can do
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Don't Leave Money on the Table
  • #838,066
  • Sep 13, 2024 2:25am Sep 13, 2024 2:25am
The dollar/yen exchange rate continued to trend downwards in Tokyo, but the decline weakened around 2:00, hitting its lowest point at 13:30 and then rebounding. After the rebound, it weakened but could not fall any further and the trend line turned upward. I went long at the second blue circle signal, and after a slight rebound at the London entrance, I added more as buying came in without breaking the blue line, and it is growing steadily.
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  • #838,067
  • Sep 13, 2024 2:32am Sep 13, 2024 2:32am
Bought Cable of 1.3132, sort of a bit late but okay if it heads to 3150

Missed buying Euro, all those glorious pips not going into my pocket
Don't Leave Money on the Table
  • #838,068
  • Sep 13, 2024 2:39am Sep 13, 2024 2:39am
16/24 r/r trade
For 24 pips
The optimal entry is after a good retracement
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yes yes yes
  • #838,069
  • Sep 13, 2024 2:55am Sep 13, 2024 2:55am
Quoting HaLBot
Bought Cable of 1.3132, sort of a bit late but okay if it heads to 3150 Missed buying Euro, all those glorious pips not going into my pocket

Closed at 1.3149, my balls are not as big as Motys
Don't Leave Money on the Table
  • #838,070
  • Sep 13, 2024 2:56am Sep 13, 2024 2:56am
Next Up For This Week GA

If this gets stopped out I will look for another entry.
I trade two accounts and if the first entry gets stopped out then look for an entry on second account.
This week all first entries have worked so far.
Both accounts are independent therefore almost like a different strategy.
Two entries are my max.
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  • #838,071
  • Sep 13, 2024 3:08am Sep 13, 2024 3:08am
Quoting HaLBot
Bought Cable of 1.3132, sort of a bit late but okay if it heads to 3150 Missed buying Euro, all those glorious pips not going into my pocket
yeah M30 broke out
im waiting for the M5 pullback to go long as well
in wondering about yourself, you forgot what you came here to be part of
  • #838,072
  • Sep 13, 2024 3:22am Sep 13, 2024 3:22am
Quoting knkie
{quote} yeah M30 broke out im waiting for the M5 pullback to go long as well

Good strategy
I'm wanting 1.3136 to buy again, see how it goes...
Don't Leave Money on the Table
  • #838,073
  • Sep 13, 2024 3:25am Sep 13, 2024 3:25am
G/M, big (> 30day adr) bullish dly thrust engulfing of previous 3 candle y/day, with 13 consecutive 1hr bullish-bodied candles at one point! So far today the Asian hi is the 1st upside b/o of y/day's hi, and is presently the current dly hi. There was a false 1st b/o of the Asian lo and then a rise again from current dly lo to challenge current dly hi.

Currently; wkly in general uptrend, Has dly resumed it's general uptrend,? 4hr rangy - currently bullish, 1hr in a general uptrend.

1hr below
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Trader with an Edge.
  • #838,074
  • Sep 13, 2024 3:35am Sep 13, 2024 3:35am
...y/days dly candle bullishly engulfed the previous 3 on that t/f! On 4hr from wed's lo/current wkly lo - a bullish full exp tri has played out, possibly another exp tri now, intermediate or full pattern? The 4th 4hr downside b/o of last week's lo proved false too.

dly then 4hr below
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Trader with an Edge.
  • #838,075
  • Sep 13, 2024 3:39am Sep 13, 2024 3:39am
Quoting HaLBot
{quote} Good strategy I'm wanting 1.3136 to buy again, see how it goes...
Interesting:
i want M30 price to stay above 1.3138 for a valid M5 buy
in wondering about yourself, you forgot what you came here to be part of
  • #838,076
  • Sep 13, 2024 3:53am Sep 13, 2024 3:53am
Quoting pipfarm
Shorting ej,gj and aj long usdcad and eurgbp Straight away 6k profit - recovered some losses Unbelievable
These yen pairs just keep on giving, woke up to 20K profit this morning, the usdcad and eurgbp trades did not pan out as expected so took a loss on these
Follow The Markets Structure - Patience and Discipline
  • #838,077
  • Edited 5:04am Sep 13, 2024 3:58am | Edited 5:04am
Currently GBPUSD we have break out above the last lower high from the corrective downtrend , so maybe a pull back and longs for a while.

First pullback in a new trend will usually retest the last the higher low before the last swing down


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Follow The Markets Structure - Patience and Discipline
  • #838,078
  • Sep 13, 2024 4:00am Sep 13, 2024 4:00am
Quoting TheHusla
{quote} Manipulation and control are two distinct things. Big players will always manipulate but this doesn't mean they are constantly in control. Regulators, as you said, are setup to stop manipulation but you say there is a possibility of some large scale manipulation going on all the time. Just imagine what this would mean for the market participants. Especially the central banks. Like I said to you before, the majority of the participants are not taking speculative positions in the market with leverage. They literally just need to convert money...
We share same opinion. Lot of misconception, fake materials and believe out there causing more confusion.

Why will Central Bank or a Bank within a system engage in trading for profit motive ? They are not speculators.

It takes much more to trade as a Speculator than trading for a bank. Yes, that is the plain truth.

And as an Hedged Fund, the bench mark is just 10% monthly. Other extra profits are covered with bonus which in most cases are not really worth the stress. More protection is given to Capital than unearned profit therefore inability to make up to 10% as a Manager doesn't attract any sanction though junior traders cannot move higher.

The battle is against self and inability to recognize pattern in favor and against and not any manipulator.
Market Structure is the King.....
  • #838,079
  • Sep 13, 2024 4:00am Sep 13, 2024 4:00am
Quoting knkie
{quote} Interesting: i want M30 price to stay above 1.3138 for a valid M5 buy

i bought 3144
lookout for H1 3149 resistance

i may just scalp 6-7 pips here then wait for the H1 reaction then go full in
in wondering about yourself, you forgot what you came here to be part of
  • #838,080
  • Sep 13, 2024 4:10am Sep 13, 2024 4:10am
... y/day's dly clsoe was suggestive of upside follow-thru @ some point and we have already seen this in the Asian session, with early London selling off from Asian hi/current dly hi and retesting it from below, - price is currently struggling to get north of it. Wkly Pivot then Dly R1 just above current dly hi, with 61.8% of the total 3266-3001 recent fall @ 3165.

'Freaky Friday 13th' so anything can happen!

1hr below
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Trader with an Edge.
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