Cable Update (GBPUSD)

... bit of a channel thingy going on?

30min below

GBPUSD
If price stay this way without forming fresh liquidity levels before getting to the predestined one. Then when it gets there we shall look for a possible bounce.

Listen, Price can change before getting to a point where you envision to execute but the good thing is, if the prices are changing, it’s prints on chart…

Smooth delivery.. hahaha

EURCHF now let’s watch out for GU

You should be in commercial section salesman.

yes yes yes
y's low is broken

...nice bounce up from current dly lo @ that prev 30min minor sw hi zone = prev res = prev rbs =pot rbs / 38.2% fib....thru 1st hurdle - a prev 1hr sw lo zone = pot sbr (hollow as not respected as sbr,) challenging 2nd ones now as 1hr closes as a bullish multi engulf x 3 thrust candle. 4hr (gmt+2hrs price feed) candle closes as shown on chart below.

1hr then 4hr below

nothing changed to yesterday. still an uptrend and favour for longs GU.

with red news later maybe an overshoot above trendchannel possible.

Hi, yeh on 4hr maybe, but 1hr more rangy-presently bullish? So, upside follow-thru on those last bullish 1hr and 4hr closes and challenging another ppa (potential problem area) now for the bulls, - that last p/back hi off y/day's lo - a prev 1hr minor sw hi zone = pot res.

DP, then 50% y/day hi/current wkly hi - current dly lo move just above current dly hi - which is a 1st upside b/o of the Asian hi

1hr below

SL deleted, too tight, will set again later at a higher level

...in the event of a move above y/day's 2376/77 hi, (looks unlikely right now - but anything can happen,!) below are the clusters of potential res factors that may or may not be @ 30min+ prev sw hi zones = pot res / prev sw lo zones = pot sbr.

Potential res factors above y/day's hi graphic below

To be in the right trade or to be in the wrong trade or to be in a trade where chances favour one side over the other?

Tho there is a thin line between them, but it is a world difference in which many dont understand, especially those who dont understand the psychological aspects of trading.
And this thin line will come up EACH and EVERY time you will need to execute what your strategy is telling you tp do.

In this realm, it affects many aspect in trading, probably directly affect our core factor in our brain where process of thought is generated and also the one factor(neuron) that release adrenaline to go through our whole body which negatively affect our acceptance of being uncomfortable to risk our money onto something that may or may not happen.

This is where many traders stuck; that is, they don't really detach the relationship of money and emotion (and this is the first stage of detachment)
Possible errors encounter in this level,
1. Fear to risk money

2. Dont trust their strategy to execute, even when everyone around him is doing the opposite.

3. Even if he trigger the orders, the market move a little against him, he got emotion, close the trade even when he already predefined his risk and SL level, then later, the trade without initially stopped him out move with flying colors to his TP or even more, but he is NOT in the trade, now he despise himself.

4. Even if the latter trigger the orders, the market move a bit in his favour, he moves his stop loss to b/e too soon because he thought now the trade will reverse and stop him out , only to find out that the trade is actually stopped out but didnt go to his initial stop loss level. (the fear of losing comes in at different stage).

These are the most common obstacle often encounters by majority, and this lists may goes on, as different trader encounters different trading barriers which often these mistakes one trader may overcome but not the other, and they may find their fellow trader's obstacle silly while for his own obstacle a mountain, like to hike the Mount Everest to the top.

Knowing Yourself

knowing yourself is the way. Not the one where you stand in front a mirror and scream "I'm a big b*tch."
unfortunately, nope.
But knowing yourself as a trader, which means you need to go back through all your trade whether losses or gains, look for their eventually outcome, and which mistakes you make at initial trade open, middle of the trade or end of the trade, and especially how it affects you on the next trade.
Only then, you have a chance to detach money from emotion.

The psychological aspects is what happens in our brain, and it eventually apply to all strategies available out there.

This is why Journaling becomes the main ingredient when trying to figure out how this sh*t worked.


Once you have an fist part of psychological edge (this is simple word "edge" itself is another whole story) comes the 2nd obstacle in which the latter need to detach time and money.
That is, to let the trade alive as long as stop loss isnt broken, or TP is reached.

The best way to detach time with money is through partial take profit. (this is based on my personal view)

So even when price later comes to stopped you out at your initial stop loss level, your partial take profit already cover % of your risk exposure or best case, cover it entirely with some gains, without moving the stop loss.


When you already have overcome this 2 main obstacle, you will understand that the goal is not to be right. Even being wrong wont mess you up.

The only thing remains is to be in the trade where the chances for one side to occur is greater than the other.
This needs to become your baseline for each of your trade, otherwise you will always stuck between proving your right or defending when you are wrong, in which each and every of your trade outcome is not in your hand nor in your fellow traders'.

Everything come down to having a winning strategy or losing strategy (denote by market expectation)

And often the winning or losing outcome is not a direct effect of the strategy, but the person behind the strategy that are executing it.

So the world is vaste, winning or losing strategy is upto you to find out which one best fits your character.

Hope my little what i have learn in my 104years old in this world puts you a step forward.

#nothingforsales #nothingtodms #notocunts #tittiesforlife.

... so, a dip down to the prev sw hi zone (s) = pot rbs around Asian hi, where some fresh 'buy the dip' demand has been met. 1st upside b/o of top of that 30min channel shown earlier was false to 15min, ...2nd upside b/o attempt of it now.

35% of 30day adr traveled so far today. This ADR hi (assuming current dly lo holds) would be 2365, this below y/day's hi.

1hr below

"Post of the Day"...

Ty.
I'm trying to get "post of the Weak" as often the weakest one get stuck in their own head.

But who knows what will happen this weakends, they tend to be lit.

...nice run down by the Bears after the 2nd test of the prev 1hr sw hi zone = pot res that leads up to 2331, thru the 1st 2 x potential downside obstacles,( ie the potential rbs around Asian hi.).

1hr below