Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

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#839,261
Sep 24, 2024 4:28am Sep 24, 2024 4:28am

Konichiwhaat
Joined Dec 2019 | Status: Going with the flow | 2,032 Posts

Quoting Headland

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{quote} That is a great entry... Find a trend, - if it exists on the next higher t/f (+) so much the better, await a pullback to a potential rbs/sbr zone/fibs on that trending t/f, and find A with trend entry trigger after the p/back, on the next lower t/f, (hidden div on that next lower/entry t/f can help here.) Some can even xrop down another t/f to find the o/b -or- o/s -or- regular div set-ups to better time the entry. Nice! dly below {image}

Ignored

Thanks. Simply mark the levels on the weekly and enter on a good daily close if it gets there. Usually set 2:1 but this had good momentum so closed at the 80 before the next 00. It's a simple, peaceful, profitable way to trade. But most people can't manage it, as the time waiting for the set up and then the time in the trade drives them crazy

Emotional Control. Process, not outcome.

#839,262
Sep 24, 2024 4:32am Sep 24, 2024 4:32am

axecap
Joined Aug 2017 | Status: Trader | 3,294 Posts

Quoting Headland

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{quote} Hi. That's just below the 1.618 extension of the 3266-3001 swing, (3429,) 3399 is the 1.5 ext of it. dly below {image}

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also within the PRZ of this weekly short butterfly.

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Its all just one persons opinion

#839,263
Sep 24, 2024 4:35am Sep 24, 2024 4:35am

Ziemowit
Joined Sep 2020 | Status: Trader | 400 Posts

Quoting Konichiwhaat

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Weekly trend. Daily entry Come on people, get your shit together! {image} {image}

Ignored

bravo

#839,264
Sep 24, 2024 4:37am Sep 24, 2024 4:37am

Konichiwhaat
Joined Dec 2019 | Status: Going with the flow | 2,032 Posts

Quoting Ziemowit

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{quote} bravo

Ignored

Thanks. Basic is best

Emotional Control. Process, not outcome.

#839,265
Sep 24, 2024 4:38am Sep 24, 2024 4:38am

IgorGG
| Joined Nov 2020 | Status: Trader | 42 Posts

Quoting Headland

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{quote} Hi. That's just below the 1.618 extension of the 3266-3001 swing, (3429,) 3399 is the 1.5 ext of it. dly below {image}

Ignored

Yes, this approach worked very well for me for getting in early on retracements.

Also, we're outside 3 standard deviations of 200dma, long position in GBP is really large, and options suggest investors are expecting weakness next month. Its also endgame for US presidential elections which bring risk. It is a huge risk event and coming up to election there will be risk off mood for sure. Ideally what I want to see is a spike up, into the level I'm anticipating, and that would give me very large degree of confidence to short it.

#839,266
Sep 24, 2024 4:53am Sep 24, 2024 4:53am

Headland
Joined Apr 2020 | Status: Trader | 8,806 Posts

Quoting axecap

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{quote} also within the PRZ of this weekly short butterfly. {image}

Ignored

Hi, I'll have to take your word for it lol! I have no idea about butterflys/gartleys etc. Good Luck.
------------------------------------------------------------------------------------------------------------

You only need one set-up/pattern and you can trade it across multiple t/f's and/or trading instruments.

For anyone struggling - get organised/get serious; Find a repeating set-up/pattern - ie something you think is promising, then trade it over a 20 trade sample and record the following;

1. Trades won and pips won
2. Trades lost and pips lost
3. Net pips won or lost
4. Win rate as a % of total trades
5. Average winner across the sample
6. Average loser across the sample
7. Was biggest winner more than 3 x average winner? / Was biggest loser more than 3 x average loser?
8. Longest consecutive run of losing trades - is this % consistent with win rate?
9. Longest consecutive run of winning trades - is this % consistent with win rate?
10. Expectancy per trade (ie total net win/loss of pips over the sample divided by sample size.)

Aim for a win rate @ 50% or better, and average loser to be < average winner. A positive expectancy over the sample is important too. Make sure the sample gain (if you get one,) isn't all dependent on one/two trade (s.) Or that you haven't let a loser (s) run away, (see point 7 above.)

Rinse and repeat for a further 2 or more 20 trade samples....that will give you an idea whether you have an edge or not. Backtesting is useful too re this template, but forward testing in the live/demo market better re: developing the necessary personal psychology to trade it profitably.

Trader with an Edge.

#839,267
Sep 24, 2024 5:13am Sep 24, 2024 5:13am

axecap
Joined Aug 2017 | Status: Trader | 3,294 Posts

Quoting Headland

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{quote} Hi, I'll have to take your word for it lol! I have no idea about butterflys/gartleys etc. Good Luck. ----------.

Ignored

Im no expert but just experimenting and using as added confluence for confidence.

Its all just one persons opinion

#839,268
Sep 24, 2024 5:21am Sep 24, 2024 5:21am

KareemAliFx
Joined Oct 2019 | Status: Trader | 2,448 Posts

Eurusd

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Master your mind. Master Trading.

#839,269
Sep 24, 2024 5:27am Sep 24, 2024 5:27am

fontu
Joined Mar 2008 | Status: Name real with real own way | 23,413 Posts

Burst up or correct towards limit 3365. Breaks limit will signal top failure for now ! Watching

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Not understand?better not follow my analyses!doubt clearer first, risks ++

#839,270
Sep 24, 2024 5:31am Sep 24, 2024 5:31am

BeeTogether
Joined Oct 2020 | Status: Trader | 14,017 Posts

Looks like resistance is an even round number today 13360
13380
13400

Insane in the Brain..

#839,271
Sep 24, 2024 5:41am Sep 24, 2024 5:41am

Headland
Joined Apr 2020 | Status: Trader | 8,806 Posts

...above these hollow prev wkly sw lo zones = pot sbr where the current dly hi is, (referred to and shown in a post above here,) there is a prev v.minor dly sw hi zone = pot res that extends up to 3437 from circa 3400. In that pot res zone is; @/around 3401 = Wkly R1, then @/around 3429 =Dly R2, &1.618% ext of the 3266-3001 move.

To the downside;

Dly below

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Trader with an Edge.

#839,272
Sep 24, 2024 5:44am Sep 24, 2024 5:44am

pipfarm
Joined Oct 2010 | Status: Trader | 4,465 Posts

Gbpusd

H1 with the trend swing so will have to ride out the M15 corrections

Follow The Markets Structure - Patience and Discipline

#839,273
Sep 24, 2024 5:49am Sep 24, 2024 5:49am

KareemAliFx
Joined Oct 2019 | Status: Trader | 2,448 Posts

Still targeting 1.11850 area eu

Master your mind. Master Trading.

#839,274
Sep 24, 2024 5:50am Sep 24, 2024 5:50am

Headland
Joined Apr 2020 | Status: Trader | 8,806 Posts

...on my 2 x osc's there are patterns of regular bearish div @ current dly hi up to the wkly chart, from 30min, but on the 4hr+ there have been for a good while!

1hr below (by way of example,) then average ranges - current state.

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Trader with an Edge.

#839,275
Sep 24, 2024 5:52am Sep 24, 2024 5:52am

ScalaFX
Joined May 2021 | Status: Trader | 7,225 Posts

Quoting ScalaFX

Disliked

EJ looking for sell medium term to 152.xx

Ignored

nice dropping

People don't plan to lose. They lose because they don't plan.

#839,276
Sep 24, 2024 5:53am Sep 24, 2024 5:53am

pipfarm
Joined Oct 2010 | Status: Trader | 4,465 Posts

Quoting Headland

Disliked

{quote} Hi, I'll have to take your word for it lol! I have no idea about butterflys/gartleys etc. Good Luck. ------------------------------------------------------------------------------------------------------------ You only need one set-up/pattern and you can trade it across multiple t/f's and/or trading instruments. For anyone struggling - get organised/get serious; Find a repeating set-up/pattern - ie something you think is promising, then trade it over a 20 trade sample and record the following; 1. Trades won and pips won 2. Trades lost and...

Ignored

Talking of repeating patterns - A (abc B ) C

EURNZD - see the impulse at the end of the correction - in a bit early so expecting a correction before it really gets underway

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AUDNZD - same corrective pattern H4 - trending down but not really going anywhere at the moment

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Follow The Markets Structure - Patience and Discipline

#839,277
Edited 7:00am Sep 24, 2024 6:05am | Edited 7:00am

fontu
Joined Mar 2008 | Status: Name real with real own way | 23,413 Posts

Quoting fontu

Disliked

Burst up or correct towards limit 3365. Breaks limit will signal top failure for now ! Watching {image} {image}

Ignored

Broken a limit , next sr may below 3356 or below 3342. eurusd still to test limit 1120 , may get sr 1110 same before

Now pa , last leg up still intact , may rang up too. Watching

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