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Cable Update (GBPUSD)

Quoting Wavegarrick
{quote} For die hard bulls like me. We are at levels that will turn a rottweiler into a scared cat. I like a retrace towards my future daily pivot at 1.33904 to 1.33725 for a possible buy trade, but hey, the onus is on you. 1.4000 is my target but let's first get to quarterly levels at 1.35 my immediate target. Daily higher high, so let's take the tip that the market has thrown at us. Cheers. {image} {image}
Here is a beautiful example why you should never try to predict the market and being "die hard bull or bear" once you have the bais in your head it's hard to change your mind because folks don't like being wrong and take it personally, thanks Leon for sharing your predictions, hope it changes direction for you soon ...
Quoting mallee
{quote} Why do you bite Whale? All you do is give him the attention he craves. If you really dislike him, send a message to his pager
LOL !
Quoting Headland
{quote} Hi. And if it works for you, great. Re empirical data and where you keep it - if it's in your head -great. Just understand the difference between empirical and anecdotal evidence/data. {quote} If you are having to predict based on empirical data then you don't know whether an edge is definitely present or not, let alone over what sample size (and how many) it is/and has been present over.
Headland, I know my sample size is coming up to 20 years, I know it when I see it.
With candles, all you need to know is if something is a low or high probability to start with. Do I need to know the exact percentages? no, I do not.
You do not need a 95% win rate on the 1 min TF because you believe that's all you can predict.
Let me ask you if you're system is so accurate and mechanical, why don't you let the computer decide?
Why are you going through the human motions in all the tech you share?
#doyourownanalysisordietryin
Quoting Bones
{quote} yes, I would use the same principle as this, at a certain point it can't be changed (easy) {image} {image}
Hello Buddy,

Of course, I expect an experienced trader like you to look for certain footprint before placing an entry. An arrow signifying Buy or Sell doesn't equate an automatic entry point.

Yes, your chart is perfectly correct but doesn't invalid the other because the scope of your knowledge and experience determines what you see and believe.

While our aggressive account was Short from the top with just 30 pips stop and still remained opened till date, our conservatives account also remained Long and in deep profit up till date, though an attempt to close at the top but overruled. What is considered as loss at the other end is not the same as your own calculation.

I would have spoken more with evidences but constraints.

It's better we make it a forum to understudy ourselves and learn positive attributes rather than allow ego and pride to set us apart.

Nice weekend.
Market Structure is the King.....
Quoting Abeylyn
{quote} Hello Buddy, Of course, I expect an experienced trader like you to look for certain footprint before placing an entry. An arrow signifying Buy or Sell doesn't equate an automatic entry point. Yes, your chart is perfectly correct but doesn't invalid the other because the scope of your knowledge and experience determines what you see and believe. While our aggressive account was Short from the top with just 30 pips stop and still remained opened till date, our conservatives account also remained Long and in deep profit up till date, though...
Hi, I'm not sure what you mean, but put it this way the weekly is bearish, which is where my bias comes in. So to go up it needs to reverse, the lower it goes the harder it is to recover because price is relatively high. Another bearish week like that one we're looking at sets a high probability weekly direction.
My guess is it will consolidate next, but conviction is low before open.
#doyourownanalysisordietryin
Quoting Bones
{quote} Hi, I'm not sure what you mean, but put it this way the weekly is bearish, which is where my bias comes in. So to go up it needs to reverse, the lower it goes the harder it is to recover because the price is relatively high. Another bearish week like that one we're looking at sets a high probability weekly direction. My guess is it will consolidate next, but conviction is low before open.
My response was to meu.... that condemned a post.

However, I am looking at the big picture and have gone long on EWN 2, Short again at EWN 3. Both trades are opened. Basically, we work with structures and not news release or other factors.

Therefore, trying to justify my position may be wrong from others perspective.
Market Structure is the King.....
Quoting Abeylyn
{quote} My response was to meu.... that condemned a post. However, I am looking at the big picture and have gone long on EWN 2, Short again at EWN 3. Both trades are opened. Basically, we work with structures and not news release or other factors. Therefore, trying to justify my position may be wrong from others perspective.
Oh ok, waves are another matter. The D1 Long-legged doji has a low probability as a stand-alone pattern, If it goes to 1.3 then that's still ok as wave 4?
#doyourownanalysisordietryin
Quoting Bones
{quote} Oh ok, waves are another matter. The D1 Long-legged doji has a low probability as a stand-alone pattern, If it goes to 1.3 then that's still ok as wave 4?
But with single pullback to the upside before 4hr trend continuity will touch EW4 . There must be pullback before the structure to EWN 4 can be completed.
Market Structure is the King.....
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People don't plan to lose. They lose because they don't plan.
What he could do is post something useful, only he has NEVER posted anything useful. He posts 15 min scalps Luckily he can't see this post.
#doyourownanalysisordietryin
Quoting Bones
What he could do is post something useful, only he has NEVER posted anything useful. He posts 15 min scalps Luckily he can't see this post.
What's wrong with 15m scalps? Ppl can make $$ trading news event's false breakouts in 1m to 5m charts.

Honestly for me it was like a fresh breeze of air when i switched to short term from long term
I make my own luck.
Quoting Nordling
{quote} What's wrong with 15m scalps? Ppl can make $$ trading news event's false breakouts in 1m to 5m charts. Honestly for me it was like a fresh breeze of air when i switched to short term from long term
nothing wrong with 15 min scalps, it's folks that can't trade 15 min scalps that have problems ...
Quoting Headland
...just a little bit more on how Banks/Hedge-funds actually use research/analysis/modeling. This may help Zebi to better understand (not guess based on a pre-conceived narrative that he has grown very fond of,) that it is not about prediction. They too (the so called 'smart-money' see the folly of that, - only the amateurs do not.) Not a great deal has changed from my day and in fact I had a phone conversation this morning with a pal who is one of the best traders @ a top London Hedge fund re a certain scenario that was developing and how he/they...
You've spoken basically about the modus operandi of Banks and Financial Institutions (Central Banks Inclusive).
Buying and Selling at key level after passing through all necessary internal policies. The intention is not basically speculative though there could still be a kind of insider trading which is strictly prohibited.

However, hedge fund go extra miles to ensure trades are placed at a key level that follows a certain predictive pattern. Yes, sure it's also emotional/risky while price still operates within risky parameters but with 7 or 10 people in a group and the previously achieved success, the emotional attachment is drastically reduced.

Personally, I see same structure on both lower time frame and higher time frame over and over again which lead to my believe in patterns.

The true market structure is not really documented but there are write-up that are similar which Pipfarm and few traders here have been adopting.

My own perspective anyway.
Market Structure is the King.....
Quoting Bones
What he could do is post something useful, only he has NEVER posted anything useful. He posts 15 min scalps Luckily he can't see this post.
hhahhahhaha loooseeerrr
People don't plan to lose. They lose because they don't plan.
the hyenas are out,
#doyourownanalysisordietryin
Quoting Headland
{quote} Hi. I'll answer your points in the order you raise them in your post. I will number them for ease. 1. '...you wouldn't have all those questions if you didn't try to use 5 min TA and trading methods on weekly and monthly and quarterly charts...' a. TA is applicable to all t/f's, fact. b. I don't look @ Quarterly charts. 2. '...since you said one time your a professional in the industry you know banks and hedge funds employee thousands of analysts whose only job is to just predict where price will be in a years time...' a. I have never once...

Waooooh! You nailed it. Exactly, the true picture and more analytical.

Just seeing this post

Thanks for telling the truth but many will not key into it.

Great pally
Market Structure is the King.....
little fine tuning before market open , so next morning not puzzle if unexpected happen ! 3174 is the determinant if little more correction 3230/36 limit or not before 2980, otherwise continue down for repeated test breaks 2980. so best target again and again! if limit breaks up anyway un expected then price bounce likely over 3304! vhope not though overall will p[rice range down below 3230 , as sl for all shorts ! take care
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Not understand?better not follow my analyses!doubt clearer first, risks ++
Iran closing airspace tonight something is brewing , could heavily impact markets if so
Master your mind. Master Trading.
Quoting KareemAliFx
Iran closing airspace tonight something is brewing , could heavily impact markets if so
may be , if any strike ! nothing any great may happen ! just oil may spike to over 80 ! lets see
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Not understand?better not follow my analyses!doubt clearer first, risks ++
Quoting Waveskierrob
{quote} nothing wrong with 15 min scalps, it's folks that can't trade 15 min scalps that have problems ...

au ah, gelap !!
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