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Cable Update (GBPUSD)

  • #849,341
  • Edited 6:26am Dec 21, 2024 6:07am | Edited 6:26am
Quoting Waveskierrob
{image}
Waveskie, and some traders here have refused to teach me anything by not posting a Single Chart or a trading signal with associated Entry, Stop and Take profit....

Still waiting to learn and tap from your accumulated wealth of experience.

A lot of experienced trader here each with a unique system. Doing a great job.
Market Structure is the King.....
  • #849,342
  • Edited 6:52am Dec 21, 2024 6:14am | Edited 6:52am
Quoting ThaoAnh
{quote} Thanks Mr.trumps. My opinion{image}
ThaoAnh, are you predicting that GU is going up because it touches and bounces off your trend line ?

The Support Resistant line drawn by you works basically on weekly and monthly chart with a buffer of about Daily ATR X 2. It doesn't show appropriate timing. It a caution for me to know there would soon be an heavy pullback.

That is precisely why I don't use those trend line that way. Price always appear with 5 waves structure. The least we can get is a truncated 5..

Let's go to Billionaires Club to display your Entry, Stop and Takeprofit for documentation purpose. Mine is already time stamped.

If my wave 5 is successfully run, I will be looking for a nice point to Buy and hold for a long term move.

But I may be wrong if my wave count is wrongly drawn. That is the nature of this business....
Market Structure is the King.....
  • #849,343
  • Edited 7:13am Dec 21, 2024 7:01am | Edited 7:13am
Quoting Waveskierrob
{image}
Pffff I can type any f. wisdom and put " Steven Hawking"...
Always follow your own shit
  • #849,344
  • Edited 10:07am Dec 21, 2024 7:44am | Edited 10:07am
Making bottom in both gbpusd and eurusd but unlike gbpusd eurusd limit still intact 0452 while in gbpusd 2608 broken up and may eurusd may try limit next time and presently both may correct before further bounce! Weekly ok for further down while daily tf multiday bounce as started Friday last . So bear may dominate open and close market next week that is due impulse down nature of eurusd bear remain strong relatively in the sideways/ bottoming ! ,take care
Now limit or top failure gbpusd is 2559 , 1st confirmation 2537 to may target 2496 if confirmation hold. Not necessarily always , breaks and confirmation may do, that below 2537 , say 20 may even bounce start. Open market may difficult get minimum solid 30 pips target against maximum 30 pips sl , now from present price previous high 43 pips. So only if gap up above 2559 then may chance shorting Monday morning! Otherwise short finish to wait for bounce at or below 2520 !
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #849,345
  • Dec 21, 2024 8:27am Dec 21, 2024 8:27am
After yet another long period of lurking in all corners of FF forum, i think i reached another level thanks to everyone's insights, I read them all and combined it to arrive at something I can finally call the holy grail for myself. Started operation since Oct 2024 and poured in serious money on this, you're welcomed to visit the Myfxbook page to take a look at the real account's history, I'm happy to share bits by bits of the system along the way.

The first bit I am about to share is, I think I have been looking at trading the wrong way, and forcing myself to fit in to do something that has a lot of odds stacked against me, yeah that's FX trading, there is no long term guarantee of the direction, and direction plays a huge part in determining the success if we go with the flow.
What if I told you that, there is an instrument that many investors are already familiar about, such as S&P500 & QQQ ETF?

Long story short, throughout 15 years of QQQ's history, the probability of it going up is as high as 89%, that says something.
Then you build your strategy around it, mainly is to go Long / Buy , predicting direction is no longer a chore, however I do have my own unique indicator that will spot the bear market of QQQ, I will just reverse my strategy to Sell if that indicator gives a signal, throughout 15 years there has only been 4 bear markets, 2 of which last less than 3 months, the rest lasted less than 1 year, even if I don't reverse my strategy, given some time the trades will back into green eventually, 89% is up remember?

My strategy is not just about blindly buying it, or the common DCA strategy and call it a day, that's investing, not trading.
Thanks to the inspiration I taken from another forum member here, if I remember correctly, the quote said something like "You never know when the market will take a sharp dump due to some black swan event, if you just do naked Long and the black swan happens, chances of wipe out is likely, the solution is to apply the brakes to your system by sacrificing some gains, now you have the best of both worlds, a reasonably profitable system with good protection against downside if it happens".

So, I am actually playing both sides of the direction, but profits mainly come from going Long. I am stress free about picking the direction, because no matter where it goes, it's either I profit right away, or I get the profit later, but it's an even bigger profit.

I'll share the next bit if y'all are interested.
Once again, thank you all for the insights that opened up my mind for thinking.
Not financial advice though, please don't sell your house for QQQ. =)

https://www.myfxbook.com/members/NGp...serve/11268620
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https://www.myfxbook.com/members/NGplus/freedom-you-deserve/11268620
Freedom you deserve. All Time Return: 58.1%
  • #849,346
  • Dec 21, 2024 9:37am Dec 21, 2024 9:37am
Quoting Reverso
After yet another long period of lurking in all corners of FF forum, i think i reached another level thanks to everyone's insights, I read them all and combined it to arrive at something I can finally call the holy grail for myself. Started operation since Oct 2024 and poured in serious money on this, you're welcomed to visit the Myfxbook page to take a look at the real account's history, I'm happy to share bits by bits of the system along the way. The first bit I am about to share is, I think I have been looking at trading the wrong way, and forcing...
the thing with indexes is underperformers get kicked out and some other company gets put in...i can see why a company that goes out of business needs to be replaced but booting intel because its stock is underperforming and replacing it with nvidia cause its on a tear makes the dow index always go up LOL

I think there's just one of the original dow companies still in the index LOL

in forex since they set up as pairs there's always conflicting reports that make things harder.... one day there's bad GU news that makes USD go up and the next there's bad USD news that makes GU go back up and retrace LOL

its always easier to trade stocks by waiting for their earnings and indexes since theyre rigged to always go up

check how many companies have been kicked out of nasdaq QQQ ....each year they recalibrate and shift shit around LOL
short trump and go long the deepstate
  • #849,347
  • Dec 21, 2024 9:48am Dec 21, 2024 9:48am
Quoting Zebi
{quote} the thing with indexes is underperformers get kicked out and some other company gets put in...i can see why a company that goes out of business needs to be replaced but booting intel because its stock is underperforming and replacing it with nvidia cause its on a tear makes the dow index always go up LOL I think there's just one of the original dow companies still in the index LOL in forex since they set up as pairs there's always conflicting reports that make things harder.... one day there's bad GU news that makes USD go up and the next...
from your reply it seems generally you agree that stocks have an easier time to trade due to better direction predictability, right?
yeah it's rigged to go up, might as well take advantage of it.
https://www.myfxbook.com/members/NGplus/freedom-you-deserve/11268620
Freedom you deserve. All Time Return: 58.1%
  • #849,348
  • Dec 21, 2024 10:15am Dec 21, 2024 10:15am
Quoting Abeylyn
{quote} Waveskie, and some traders here have refused to teach me anything by not posting a Single Chart or a trading signal with associated Entry, Stop and Take profit.... Still waiting to learn and tap from your accumulated wealth of experience. A lot of experienced trader here each with a unique system. Doing a great job.
Don't use charts, opened my own thread with live trades, I'm not here to teach I just show how I trade, take or leave it, can't teach anyone how to trade because they are not me...
  • #849,349
  • Dec 21, 2024 10:24am Dec 21, 2024 10:24am
Quoting Waveskierrob
{quote} Don't use charts, opened my own thread with live trades, I'm not here to teach I just show how I trade, take or leave it, can't teach anyone how to trade because they are not me...
Yeah! true because each trader is unique.

Give me the link to your thread.

Better to meet you there...
Market Structure is the King.....
  • #849,350
  • Edited 11:41am Dec 21, 2024 10:35am | Edited 11:41am
Quoting Reverso
{quote} from your reply it seems generally you agree that stocks have an easier time to trade due to better direction predictability, right? yeah it's rigged to go up, might as well take advantage of it.

I don't know about other countries but in USA to daytrade stocks you have to have 25k minimum in the account at all times or be tagged as a pattern day trader

so USA daytraders have large accounts and piss on the 100 dollar forex prop players

trading index futures cheaper if you go with a deep discount futures broker like AMP

there's people that just trade companies earnings or news releases or meme stocks....all kinds of easier ways with stocks than forex since you don't have to keep track of a pair that competes with itself like currencies

download thinkorswim platform..its ameritrade I think now and watch realtime stock prices..there's even an embedded chat in the platform..its a free demo or used to be

and go to activetraders room on the financialchat server on the irc network...you can use irccloud to get there...its just Americans with one new zealander that trade stocks and futures...nobody fuks with forex...if you want to see how stock daytrading works
short trump and go long the deepstate
  • #849,351
  • Dec 21, 2024 10:41am Dec 21, 2024 10:41am
Quoting Abeylyn
{quote} Yeah! true because each trader is unique. Give me the link to your thread. Better to meet you there...
Go to my home page then click on the threads I've started, there's only one...
  • #849,352
  • Edited 12:18pm Dec 21, 2024 10:41am | Edited 12:18pm
Quoting Zebi
{quote} I don't know about other countries but in USA to daytrade stocks you have to have 25k minimum in the account at all times or be tagged as a pattern day trader so USA daytraders have large accounts and piss on the 100 dollar forex prop players trading index futures cheaper if you go with a deep discount futures broker like AMP there's people that just trade companies earnings or news releases or meme stocks....all kinds of easier ways with stocks than forex since you don't have to keep track of a pair that competes with itself like...

heres a guys list of the companies he trades in that room ...goes by WallStArb...you can google him...he's a real deal professional in there not like the wannabes on FF LOL

they're all cheap biotech stocks and he jumps in when they pop

https://drive.google.com/file/d/1jY8...9K8pSsfpl/view

good luck trading stocks and indicies
short trump and go long the deepstate
  • #849,353
  • Edited 11:43am Dec 21, 2024 11:08am | Edited 11:43am
ok gents...as everyone knows im shorting bitcoin from dec 8th principally cause I hate trump and have TDS and since he endorsed bitcoin and everything he touches turns to crap I had to short LOL

I'm sure none of the rooms bitcoin bulls bothered to look at the monthly chart LOL

so enjoy and tell me how that looks boooolish

don't forget there's still 4 or 5 more trading days left in the year and I have every confidence trump will talk more shit that will make BTC close as a red candle LOL
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short trump and go long the deepstate
  • #849,354
  • Dec 21, 2024 11:20am Dec 21, 2024 11:20am
Quoting Zebi
{quote} heres a guys list of the companies he trades in that room ...goes by WallStArb...you can google him...he's a real deal professional in there not like the wannabes on FF LOL they're all cheap biotech stocks and he jumps in when they pop https://drive.google.com/file/d/1jY8...9K8pSsfpl/view so good luck trading stocks and indicies
Already there.....

I should be able to view now .
Thanks.
Market Structure is the King.....
  • #849,355
  • Dec 21, 2024 11:45am Dec 21, 2024 11:45am
Quoting Abeylyn
{quote} Already there..... I should be able to view now . Thanks.
you in the room?

what name u using?
short trump and go long the deepstate
  • #849,356
  • Dec 21, 2024 12:04pm Dec 21, 2024 12:04pm
I think this monthly candle will be an inside candle, probably a doji, making the yearly a small range spinning top.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #849,357
  • Dec 21, 2024 12:17pm Dec 21, 2024 12:17pm
gu should follow eu to the ground, only when Trump starts job then we could see reversal
I only follow traders with IQ above 160
Challenge Tour All Time Return: -55.8%
  • #849,358
  • Dec 21, 2024 12:42pm Dec 21, 2024 12:42pm
Quoting Zebi
{quote} you in the room? what name u using?
I just viewed the existing post and get out...

I should be able to trail Waskie process from now.
Market Structure is the King.....
  • #849,359
  • Dec 21, 2024 2:35pm Dec 21, 2024 2:35pm
Quoting Abeylyn
{quote} I just viewed the existing post and get out... I should be able to trail Waskie process from now.
we're talking about different things and people...i thot u meant you were in the irc chatroom

waveskibob pretty much just brackets a candle with a 5 pip tp if I remember correctly from perusing his thread awhile ago ...that works good on a ranging session or day but kills you in a trend cause if the bracket hits both ways youre stuck in a massive loss compared to the profits u made
short trump and go long the deepstate
  • #849,360
  • Edited 5:47pm Dec 21, 2024 3:35pm | Edited 5:47pm
Quoting Bones
I think this monthly candle will be an inside candle, probably a doji, making the yearly a small range spinning top. {image} {image} {image}
X marks the spot Monthly is close enough to call a triple bottom imho as well, good insight Bones, tks makes me uncomfortable with my short
trendlines seem to be in different places depending on timeframe especially the blue
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