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Cable Update (GBPUSD)

  • #839,041
  • Sep 22, 2024 12:15pm Sep 22, 2024 12:15pm
Quoting jamessarita
...me on sunday checking for some new ideas on GU...Ghost Town {image} {image} {image}
People don't plan to lose. They lose because they don't plan.
  • #839,042
  • Sep 22, 2024 12:16pm Sep 22, 2024 12:16pm
Quoting Fardeen1209
{quote} ScalaFx be like {image}
yeesss!!
People don't plan to lose. They lose because they don't plan.
  • #839,043
  • Sep 22, 2024 12:17pm Sep 22, 2024 12:17pm
i love you all
People don't plan to lose. They lose because they don't plan.
  • #839,044
  • Sep 22, 2024 12:19pm Sep 22, 2024 12:19pm
Quoting ScalaFX
i love you all
Typical Sunday night drama.
Just came here to get my dose for the following week
More time in the market, does not mean you trade better!
  • #839,045
  • Sep 22, 2024 12:23pm Sep 22, 2024 12:23pm
Quoting Fardeen1209
{quote} It becomes a game of weak USD vs Weak JPY. Btw USD looks like a descending triangle. And USD looks vulnerable from fundamental view.
because it is "descending" it is called an upward pattern to wait for an opportunity for a breakup.
The way to enter sell on a downward continuation is when the price is at resistance, where is resistance... the trader's job is to identify support and resistance levels based on his own understanding
If we go with the flow, by joining in selling then selling at the valley (support) is the theory That is all and thank you

made by Gtranslate

  • #839,046
  • Sep 22, 2024 12:24pm Sep 22, 2024 12:24pm
Quoting Nordling
{quote} Quant traders are mostly shite just like the most of the retailers. Quant analysts, machine learning engineers mostly try to come up with models that their strategists (mostly economists) asked them to create. In order to backtest, calculate the risk, find out about the win rate and profitability. If it's good they use it, if not then they ditch it and wait for their strategist to ask them for a new model for his new ideas. In big institutions quants usually research and trade fundamentals, although trading technicals is more popular amongst...
Good points
Few understand this.

Trading is all about perception.
We all view the same chart, yet we are on different trades.
More time in the market, does not mean you trade better!
  • #839,047
  • Sep 22, 2024 12:32pm Sep 22, 2024 12:32pm
Quoting jamessarita
...me on sunday checking for some new ideas on GU...Ghost Town {image} {image} {image}
How this works is a like two-way street.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #839,048
  • Sep 22, 2024 12:36pm Sep 22, 2024 12:36pm
Quoting meugampong
{quote} because it is "descending" it is called an upward pattern to wait for an opportunity for a breakup. The way to enter sell on a downward continuation is when the price is at resistance, where is resistance... the trader's job is to identify support and resistance levels based on his own understanding If we go with the flow, by joining in selling then selling at the valley (support) for uj is the theory That is all and thank you made by Gtranslate
Agreed selling at support can be risky. I was in swing short at 143 since early sept, took some partials, now it comes to stopped me out.
Everything change when boj keep rate unchanged.

Posted this couple days ago
Quoting Fardeen1209
UJ 2 possible scenario {image} I'm short waiting for resistance to flip to support then swing long to 152.
Price still showed rejection at chanel. (i dont have my latest updated chart with me rn),
But my point is, if i was to open swing long, i'd be willing to see a flip at the flip zone level. Possibly targeting 152.
This is my trading decision.
But is was good to have your view too, since i rarely get a guy that trades Uj and get to discuss it with the latter.
More time in the market, does not mean you trade better!
  • #839,049
  • Sep 22, 2024 12:38pm Sep 22, 2024 12:38pm
Quoting Fardeen1209
{quote} Good points Few understand this. Trading is all about perception. We all view the same chart, yet we are on different trades.
Thanks man I used to rank these banks and their coding & math geniuses (quants) so highly. You know someone around us always told us "forex is a zero sum game, you can't beat the algos of the banks". So at one point we all thought we can never compete with these guys. Or at least our friends told that to us.

So i decided to do some networking, made some friends, got into their circle just to find out if we retailers can survive against these guys. Turns out we can, so trading is not impossible.

Also, these are the guys with the big capital. So they are the market movers. Understanding how they trade can benefit us so we can guess what will be their next move.

I know i cause a lot of drama but sometimes i say something crucial between the lines, i am actually thinking of putting this text on a thread so new traders can get an idea of who they are competing against and how to beat & follow them.
You have to have an IQ higher than 90 to interact with this user.
  • #839,050
  • Sep 22, 2024 12:55pm Sep 22, 2024 12:55pm
Quoting Nordling
{quote} Thanks man I used to rank these banks and their coding & math geniuses (quants) so highly. You know someone around us always told us "forex is a zero sum game, you can't beat the algos of the banks". So at one point we all thought we can never compete with these guys. Or at least our friends told that to us. So i decided to do some networking, made some friends, got into their circle just to find out if we retailers can survive against these guys. Turns out we can, so trading is not impossible. Also, these are the guys with the big...
My days of learning technical analysis is nearly over. Rest of the content that is left is horseshit.
Now i'm on my path to perfection my money management.
On that path (though i am still at the beginning) i learn couple things:
#1 technical analysis can never be perfectioned.
#2 money management is key to growth and survival.
#3 with good MM, we can convert the imperfection into something that is great, we still dont need to be excellent. Being good is still over-rated. So being the peasant traders is our objective. The peasant in terms of analysis cause we never know for sure what is going to happen. But we must be professional money management.
Finally
#4 Trading is not a game of A vs B, but a game of you vs the yesterday you. Because we all can win in the end, if we play the game by our own rule. Yet, for majority this seems to be impossible, because their focus is on the wrong objective.
From what i have learned so far, the first step into MM is psychology. So the prequisite for growth is already a battle of you vs your inner self.
More time in the market, does not mean you trade better!
  • #839,051
  • Sep 22, 2024 12:59pm Sep 22, 2024 12:59pm
Quoting Fardeen1209
{quote} My days of learning technical analysis is nearly over. Rest of the content that is left is horseshit. Now i'm on my path to perfection my money management. On that path (though i am still at the beginning) i learn couple things: #1 technical analysis can never be perfectioned. #2 money management is key to growth and survival. #3 with good MM, we can convert the imperfection into something that is great, we still dont need to be excellent. Being good is still over-rated. So being the peasant traders is our objective. The peasant in terms...
... great post
  • #839,052
  • Sep 22, 2024 1:00pm Sep 22, 2024 1:00pm
I'm testing an new template, let's see how it will work this week.
The arrows are showing the entries.

Attached Image (click to enlarge)
Click to Enlarge Name: palpite.png Size: 40 KB
Together we can be strongest
Vantage Return This Month: na
  • #839,053
  • Sep 22, 2024 1:07pm Sep 22, 2024 1:07pm
Quoting Fardeen1209
{quote} My days of learning technical analysis is nearly over. Rest of the content that is left is horseshit. Now i'm on my path to perfection my money management. On that path (though i am still at the beginning) i learn couple things: #1 technical analysis can never be perfectioned. #2 money management is key to growth and survival. #3 with good MM, we can convert the imperfection into something that is great, we still dont need to be excellent. Being good is still over-rated. So being the peasant traders is our objective. The peasant in terms...
spot on well said

I agree, technical analysis is useful but very overrated and quite a subjective thing so it will always be leaning on the imperfect side
You have to have an IQ higher than 90 to interact with this user.
  • #839,054
  • Sep 22, 2024 1:14pm Sep 22, 2024 1:14pm
Quoting palpite
I'm testing an new template, let's see how it will work this week. The arrows are showing the entries. {image}
Do the arrows repaint after the move ?
  • #839,055
  • Sep 22, 2024 1:23pm Sep 22, 2024 1:23pm
Quoting palpite
I'm testing an new template, let's see how it will work this week. The arrows are showing the entries. {image}
Seems like a MA crossover strategy. Good luck mate!
You have to have an IQ higher than 90 to interact with this user.
  • #839,056
  • Sep 22, 2024 1:34pm Sep 22, 2024 1:34pm
Quoting Zebi
the skinny red line is a new short I took last night during Frankfort and went to sleep the two black lines on this weekly chart are the levels price needs to close above for this breakout attempt to hold a weekly close under the lower black line is very bearish altho a close under the top one is too but bulls will try another jam up sunday and Monday that ill be shorting red lines below are my longterm targets ...don't be fooled with rate cuts and dollar...the greenback can go up on rate cuts like it did during clintons term just from the...

Friday morning I took a short and got closed by a trailing stop for alittle

however I think my analysis still holds ...price bounced off that upper weekly black line in my qoute after I posted and went back up as u can see in the first chart ...

now moving on to the daily dollar...its printed inside candles at the lows all week like in the lower chart ...while GU and EU been going up... ask yourselves gentlemen whats the chances of the greenback bouncing up to my red line on thedaily or drop thru that shaded longterm monthly support LOL

sunday and Monday shud give great shorting opportunities on hourly and 4H candles as GU and EU look for stops higher up
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: Screenshot 2024-09-22 133657.png Size: 10 KB
short trump and go long the deepstate
  • #839,057
  • Sep 22, 2024 3:02pm Sep 22, 2024 3:02pm
Quoting palpite
I'm testing an new template, let's see how it will work this week. The arrows are showing the entries. {image}
Same idea as your mainchart
Attached Image (click to enlarge)
Click to Enlarge Name: 1558.png Size: 25 KB
  • #839,058
  • Sep 22, 2024 3:32pm Sep 22, 2024 3:32pm
GBPUSD price action on the daily time frame is in a bullish mode. It is operating in a rising wedge (red) and presently it is at the upper area of the wedge. Besides, on Friday, price action broke above the 1.32750 intra-day horizontal resistance. Technically, we may still see further northward move in the early part of this week but the dominant technical structure is bearish.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDDaily.png Size: 15 KB
Do your homework, follow the footprints of smart money
  • #839,059
  • Sep 22, 2024 4:02pm Sep 22, 2024 4:02pm
Okay so not much as changed for me I’m looking to short EU after a 1.11850 level test
Master your mind. Master Trading.
  • #839,060
  • Sep 22, 2024 5:16pm Sep 22, 2024 5:16pm
Quoting Waveskierrob
{quote} Do the arrows repaint after the move ?
I placed the arrows just for to show where will be the entries.
Together we can be strongest
Vantage Return This Month: na
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