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Cable Update (GBPUSD)

  • #851,541
  • Jan 24, 2025 1:44am Jan 24, 2025 1:44am
Quoting Georginson
{quote} All closed +33 pips and - 30 pips... Final +3 pips. This is averaging method .. it worked out.
now try it in both directions at the same time, on demo see how you fare...
  • #851,542
  • Jan 24, 2025 1:52am Jan 24, 2025 1:52am
Quoting Waveskierrob
{quote} now try it in both directions at the same time, on demo see how you fare...
I will see to it... That is hedging method of averaging.
Data + Stat + Risk/Emotions Management
  • #851,543
  • Jan 24, 2025 1:57am Jan 24, 2025 1:57am
...JPY's flash manuf pmi slightly undershot the forecast, ...is this a harbinger for Eu's, then Uk's, then U.s's later? It's pretty much all bad data from UK recently, since Rachel from accounts's 'budget for growth!' lol.

Obvious place for the buy-the-dip players to come back in long wasn't it? - that prev sw hi x 3 zone = pot rbs & y/day's hi,....can the bulls sustain it though?

4hr below
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Trader with an Edge.
  • #851,544
  • Jan 24, 2025 2:10am Jan 24, 2025 2:10am
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yes yes yes
  • #851,545
  • Jan 24, 2025 2:27am Jan 24, 2025 2:27am
...more supply toward the current dly hi - now a prev minor 1hr sw hi zone = pot res there too.

1hr below
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Trader with an Edge.
  • #851,546
  • Jan 24, 2025 2:27am Jan 24, 2025 2:27am
Quoting trumps
{quote} It can depend on your time frame. Why a fake top at a weekly support turned resistance zone? {image}
Those who trade large timeframes usually zip down to lower ones to fine tune their entries.
  • #851,547
  • Jan 24, 2025 2:40am Jan 24, 2025 2:40am
...the dly swing down from 2575 (current mthly hi) to 2100 is the 2nd dly b/o of last mth's 2475 lo, after the 1st to 2351 met buyers which took it up to said 2575, before the fall to 2100 current mthly (& yrly) lo. The said 2475 lo and pot sbr zone starting @ it has been once disrespected as pot sbr on this dly t/f on that 2351-2575 move up, so it will be interesting to see whether it acts as such if tested again.

dly below
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Trader with an Edge.
  • #851,548
  • Jan 24, 2025 2:49am Jan 24, 2025 2:49am
Quoting Waveskierrob
{quote} the market will move any direction at any time to any price, the market is doing what it always does...
It's random
  • #851,549
  • Jan 24, 2025 2:52am Jan 24, 2025 2:52am
If the pound cratered and gilt yields soared due to Labours policies, I can only assume the markets really don't like Trumps policies given the dollar is cratering and the bond yields have started rising again.
  • #851,550
  • Jan 24, 2025 2:54am Jan 24, 2025 2:54am
Crooky rangy mf
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yes yes yes
  • #851,551
  • Jan 24, 2025 3:01am Jan 24, 2025 3:01am
Quoting Moty
Crooky rangy mf {image}
It's currently going up exponentially. At it's current rate it should hit 1.26 by the end of the day assuming it stays at least linear from no on. Unlikely I'd say.
  • #851,552
  • Jan 24, 2025 3:06am Jan 24, 2025 3:06am
Quoting MrFanciful
{quote} It's currently going up exponentially. At it's current rate it should hit 1.26 by the end of the day assuming it stays at least linear from no on. Unlikely I'd say.
Hi, 2456 is the current 30day adr hi, assuming 2347 remains the current dly lo.
-----------------------------------------------------------------------------------------
No b/o of either the Asian hi or lo yet which are presently the current dly hi and lo. If it's gonna break one or the other it currently (1st @ least) favours an upside b/o of the Asian hi?

1hr below
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Trader with an Edge.
  • #851,553
  • Jan 24, 2025 3:23am Jan 24, 2025 3:23am
Quoting Headland
{quote} Hi, 2456 is the current 30day adr hi, assuming 2347 remains the current dly lo. ----------------------------------------------------------------------------------------- No b/o of either the Asian hi or lo yet which are presently the current dly hi and lo. If it's gonna break one or the other it currently (1st @ least) favours an upside b/o of the Asian hi? 1hr below {image}
I think I'm quitting again. I'm about to break my £34,000 of losses now. Absolutely everything I've tried doesn't work. I go back to demo, using the same account type and market data as my live and I make profit. I go back to live and it's a dumpster fire. I have a strategy that works beautifully in a ranging market and another in a trending market. I never know which I should be using. All I want to do is make a few pips. 8 pips would do me but I can't even do that.

I keep telling myself to wait for a high probability setup, but everything looks like one and none at the same time. It's like Waves said yesterday, the market can go in any direction at any time to any price. In other words it's totally random and therefore no set of rules will consistently work by definition.

I'm a network engineer. I read in a book once that people from an engineering background make the worst traders because we need to know why things are behaving the way they are. Markets are based on subjectivity and emotion, not rules or systems.

I can't wait for the collapse of the fiat currency system and the utter destruction of everything.
  • #851,554
  • Jan 24, 2025 3:24am Jan 24, 2025 3:24am
Sold 1.2435
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #851,555
  • Jan 24, 2025 3:26am Jan 24, 2025 3:26am
BUY GJ
My telegram: https://t.me/avidforex
  • #851,556
  • Jan 24, 2025 3:27am Jan 24, 2025 3:27am
Quoting Mitiblotch
{quote} Those who trade large timeframes usually zip down to lower ones to fine tune their entries.
Good point
Compulsions can be hard to resist
  • #851,557
  • Jan 24, 2025 3:31am Jan 24, 2025 3:31am
I'm going to withdraw my remaining £5 from my account. Nice knowing you all.
  • #851,558
  • Jan 24, 2025 3:40am Jan 24, 2025 3:40am
Quoting MrFanciful
I'm going to withdraw my remaining £5 from my account. Nice knowing you all.
jr , so sad to hear , can say tho not real old but a certain amount of just plain old excavating and dirt work , there is no worse customer of any kind than any type of "engineer" especially when they pull a transit out the garage , do hope things improve for ya , and some things are not as they appear, best too you
  • #851,559
  • Jan 24, 2025 3:41am Jan 24, 2025 3:41am
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H. --- Short here , NOW......................

  • #851,560
  • Jan 24, 2025 3:42am Jan 24, 2025 3:42am
Was sold 1.2445 manually
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