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Cable Update (GBPUSD)

  • #842,421
  • Oct 18, 2024 1:58am Oct 18, 2024 1:58am
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yes yes yes
  • #842,422
  • Oct 18, 2024 1:59am Oct 18, 2024 1:59am
Quoting Nordling
{quote} Forex is a huge market, moving pairs like EU or GU 30-40 pips in a matter of seconds must take billions of dollars
I remember the 1st time (working for a bank) I put a trade of some size (50m) on gbpusd....it didn't move - not even a flicker, lol! It all depends on the prevailing liquidity. Back in the day you could move Dow futures in evening/night time hours with a few tens of thousands, believe it or not, due to low liquidity, although there was so much spoofing re the price ladder that you had to be really careful. I knew one trader that virtually controlled things in one of the metal markets, - the market was effectively his, and he moved it. All different now.
------------------------------------------------------------

...gmt+3hrs price feed 4hr candle closed bullishly but with a long upper wick, a few mins ago

4hr below
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Trader with an Edge.
  • #842,423
  • Oct 18, 2024 2:09am Oct 18, 2024 2:09am
Quoting Headland
{quote} I remember the 1st time (working for a bank) I put a trade of some size (50m) on gbpusd....it didn't move - not even a flicker, lol! It all depends on the prevailing liquidity. Back in the day you could move Dow futures in evening/night time hours with a few tens of thousands, believe it or not, due to low liquidity, although there was so much spoofing re the price ladder that you had to be really careful. I knew one trader that virtually controlled things in one of the metal markets, - the market was effectively his, and he moved it. All...
Nice. Do you prefer working/trading for yourself now? And also, what would you consider a good % annual return for yourself from your trading?
Emotional Control. Process, not outcome.
  • #842,424
  • Oct 18, 2024 2:11am Oct 18, 2024 2:11am
Quoting Nordling
{quote} Forex is a huge market, moving pairs like EU or GU 30-40 pips in a matter of seconds must take billions of dollars
Well its collective, its not that 1 min can't be read, its more theres no time. To make 1 min candle isn't much.
I think even Headland will tell you he has a system other than reading price at that TF
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #842,425
  • Oct 18, 2024 2:13am Oct 18, 2024 2:13am
Quoting Headland
...it's funny Zebi used to call Nubcake the contrary indicator (when the later put in an unwelcome appearance,) but when he or Chiforex ( as the 2 main £ doom mongers) appear, it rallies, lol! {image}
Classic...
  • #842,426
  • Oct 18, 2024 2:14am Oct 18, 2024 2:14am
Quoting Headland
{quote} I remember the 1st time (working for a bank) I put a trade of some size (50m) on gbpusd....it didn't move - not even a flicker, lol! It all depends on the prevailing liquidity. Back in the day you could move Dow futures in evening/night time hours with a few tens of thousands, believe it or not, due to low liquidity, although there was so much spoofing re the price ladder that you had to be really careful. I knew one trader that virtually controlled things in one of the metal markets, - the market was effectively his, and he moved it. All...
Right! EU and GU is so huge that they make 50m look like 10k Maybe a billion or two will still look small, since fx market is a 6 trillion dollar beast and EU & GU makes more than half of it
You have to have an IQ higher than 90 to interact with this user.
  • #842,427
  • Oct 18, 2024 2:19am Oct 18, 2024 2:19am
For 23 pips
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yes yes yes
  • #842,428
  • Oct 18, 2024 2:22am Oct 18, 2024 2:22am
GU standing in the middle looking for who to deceive and trap. Funny pair.
  • #842,429
  • Oct 18, 2024 2:24am Oct 18, 2024 2:24am
Quoting Konichiwhaat
{quote} Nice. Do you prefer working/trading for yourself now? And also, what would you consider a good % annual return for yourself from your trading?
Hi. There are advantages to both, but overall there is nothing like being your own boss is there? I don't miss all the office politics bollox etc, I never was much good at that, and was never a 'company man!' I won't answer that 2nd question if you don't mind.

Quoting Bones
{quote} Well its collective, its not that 1 min can't be read, its more theres no time. To make 1 min candle isn't much. I think even Headland will tell you he has a system other than reading price at that TF
Hi, Yeh I agree, - there isn't much information in a 1min candle is there,? ie just 1min's worth of information so it can't tell you much, which is why my edge involves other technical studies to add confluence to any trading decision, particularly important I guess, as you suggest, on the lower t/f's.

Quoting Nordling
{quote} Right! EU and GU is so huge that they make 50m look like 10k Maybe a billion or two will still look small, since fx market is a 6 trillion dollar beast and EU & GU makes more than half of it
Hi. Eurusd is over 60% of it on it's own. Gbpusd is circa 11% of it, so if the total market is say $6trn/day, then gbpusd is $660bn/day.
Trader with an Edge.
  • #842,430
  • Oct 18, 2024 2:25am Oct 18, 2024 2:25am
Quoting Moty
For 23 pips {image}
im aiming above the daily high
but will always look to take profit when it looks exhausting
Insane in the Brain..
  • #842,431
  • Oct 18, 2024 2:31am Oct 18, 2024 2:31am
I think it's probably another small-range doji, as the price is trapped.
The monthly looks very heavy but the quarterly could save it.
It's under res & unclear since the time frames are not aligned.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #842,432
  • Oct 18, 2024 2:33am Oct 18, 2024 2:33am
Quoting Headland
{quote} Hi. There are advantages to both, but overall there is nothing like being your own boss is there? I don't miss all the office politics bollox etc, I never was much good at that, and was never a 'company man!' I won't answer that 2nd question if you don't mind. {quote} Hi, Yeh I agree, - there isn't much information in a 1min candle is there,? ie just 1min's worth of information so it can't tell you much, which is why my edge involves other technical studies to add confluence to any trading decision, particularly important I guess, as you...
No problem. Thanks for your answer. Yup, being a solo unit is good. Sometimes miss the office life, but not so much. Definitely don't miss the pressure and the targets. As for me, 20% return per year is good (forex), and If I get anything above 30%, that's (for me) extremely exceptional. A few newbies in here are probably laughing their arses of now... and that's all good. If they can consistently generate more, I'm genuinely happy for them! And if they can prove it, shit... I'll hire them myself!
Emotional Control. Process, not outcome.
  • #842,433
  • Oct 18, 2024 2:33am Oct 18, 2024 2:33am
Come on mister goldi
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yes yes yes
  • #842,434
  • Edited 3:26am Oct 18, 2024 2:36am | Edited 3:26am
successful breaks eurusd 0836 , next signal 0924 to last previous low confirmation for next daily sr , perhaps 0770! anyway todays all short for till days end . eurusd and gbpusd !
for gbpusd same 3033 , 17 , 3000 , to confirmation 2979

better gbpusd breakout at 3033 for below 3025 to 22 bull pride low to 3019 before last bounce up as doing eurusd after the breakout ! watching
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #842,435
  • Oct 18, 2024 2:52am Oct 18, 2024 2:52am
open price was 1.3x




my opinion price above 1.30 give me a buy signal

down side 1.2950
up side 1.3100
MY OPINION NOT FINANCIAL ADVISE
  • #842,436
  • Oct 18, 2024 2:55am Oct 18, 2024 2:55am
the GBP/USD pair on a 30-minute timeframe. It highlights a downward trend with a channel pattern, marked by the two parallel trendlines, indicating that the pair has been trading within this descending channel. The price has tested both the upper and lower boundaries of the channel several times, respecting the levels of resistance and support.
The chart also includes zones of interest, marked by green rectangles, which seem to represent supply zones where price previously reversed. These zones indicate areas where sellers could potentially step in again if the price reaches them, suggesting resistance at these levels.
Key points:

  1. Current price: The price at the time of the screenshot is around 1.30621, slightly below the upper trendline of the channel, which could act as a resistance level.
  2. Supply zones: Highlighted in green, these areas could signal strong selling pressure if the price moves upwards, possibly triggering a reversal back down.
  3. Trend continuation: Since the pair is still within the descending channel, there’s potential for further downward movement unless the price breaks above the upper trendline, which would indicate a possible reversal or breakout.

Would you like to dive deeper into technical details, such as interpreting candlestick patterns or potential trade setups on this chart?

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  • #842,437
  • Edited 3:26am Oct 18, 2024 2:57am | Edited 3:26am
Quoting Moty
For 23 pips {image}
Switched to short with a 10 pips loss
yes yes yes
  • #842,438
  • Oct 18, 2024 3:31am Oct 18, 2024 3:31am
its either you wait for the liquidity process or u become liquidated before the free cash..
MY OPINION NOT FINANCIAL ADVISE
  • #842,439
  • Oct 18, 2024 3:36am Oct 18, 2024 3:36am
Come on mister goldi shorty
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yes yes yes
  • #842,440
  • Oct 18, 2024 3:38am Oct 18, 2024 3:38am
Quoting Waveskierrob
{quote} BE now at 1.2700 will be going easy now with adding SHORTS ...
Keep adding BE 1.2750..
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