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Cable Update (GBPUSD)

  • #875,381
  • Jun 25, 11:18pm (15 hr ago) Jun 25, 11:18pm (15 hr ago)
Quoting AK.47
What do you guys think about ONLY trading GU in the Asia session? Pretty stupid, right?
Wouldn't exactly call it stupid, mate—we've all done that grind of frying our brains in front of a screen and questioning our life choices. The trouble is, Asian session GU has absolutely zero real macro flow driving it, so all that micro chop on the chart is basically just algos chewing each other up in the noise. Rather than burning your HP on a dead market just to get absolutely rinsed by the spread, you're way better off logging out and getting some rest. Just wait for the heavy institutional volume to boot up later and ride the actual trend; it's infinitely less of a ballache.
Work the system, don't let the system work you.
  • #875,382
  • Jun 26, 12:14am (15 hr ago) Jun 26, 12:14am (15 hr ago)
Quoting Guy1969
Short GU, short EU TP open.
Closed, BE. Trades not going anywhere.
  • #875,383
  • Jun 26, 2:19am (12 hr ago) Jun 26, 2:19am (12 hr ago)
Quoting Guy1969
{quote} Closed, BE. Trades not going anywhere.
Patient is key.

Risk Reward analysis then set and forget.

We are in the same prolonged test.
Market Structure is the King.....
  • #875,384
  • Edited 2:36am Jun 26, 2:22am (12 hr ago) | Edited 2:36am
Quoting AK.47
What do you guys think about ONLY trading GU in the Asia session? Pretty stupid, right?
It a bunch of micro activities used to propel the main trading activities.

Basically, it's better to wait and trade the macro from 6am or 8am daily (GMT)

If you must trade the Asian session, just aim at Short target because less than 10% of the move leads to intraday trend.
Market Structure is the King.....
  • #875,385
  • Jun 26, 3:51am (11 hr ago) Jun 26, 3:51am (11 hr ago)
Quoting AK.47
What do you guys think about ONLY trading GU in the Asia session? Pretty stupid, right?
.... this is a misplaced choice scenario, doing the right thing, however passionate and proffessional it is, at the wrong time.
Session are currency dominant and if a preffered qoute is off geolocation then over expectation is total disappointment.
MARKET ABHORS LAZINESS,DOING MY HOMEWORK ....
  • #875,386
  • Jun 26, 4:00am (11 hr ago) Jun 26, 4:00am (11 hr ago)
1st Short @ 1.32200 sl 20 tp wide
Keep the Lights on then you can catch the rise from the dark.
  • #875,387
  • Jun 26, 5:01am (10 hr ago) Jun 26, 5:01am (10 hr ago)
G/M. Upside p/back of the week's present main down-move (being 3273/74 CWH -3140 CWL,) continues off that 3140 CWL, (which is also the CML & CYL,) bulls building on y/day's bullish-engulf dly candle, so far today. Upside b/o of 1st today's AH, then YH now, with price arriving @ top of a 5 fib cluster @ the CDH. Next fib cluster to upside runs 3254-62 (4.) Dly R2 is @/around 3254.

Interesting re other markets. Oil down in the mid $70's, Bitcoin trying to recover off Y/day's lo @ circa $58.2k, with Gold attempting an upside recovery too, off it's sub $4k lo y/day.

1hr, then other markets graphic, below
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Trader with an Edge.
  • #875,388
  • Jun 26, 5:42am (9 hr ago) Jun 26, 5:42am (9 hr ago)
Quoting sakaida1125
{quote} Wouldn't exactly call it stupid, mate—we've all done that grind of frying our brains in front of a screen and questioning our life choices. The trouble is, Asian session GU has absolutely zero real macro flow driving it, so all that micro chop on the chart is basically just algos chewing each other up in the noise. Rather than burning your HP on a dead market just to get absolutely rinsed by the spread, you're way better off logging out and getting some rest. Just wait for the heavy institutional volume to boot up later and ride the actual...
Appreciate the insight mate, and that's EXACTLY what I'm doing. I'm just frying my brain thinking the more volume I do, the harder it is for me to fail. But less is more. I've come to realize that now and since the last 2 weeks I've been so twatted out of my life that I hadn't even taken a trade in London or NY. I change that today if my setup arises

Have a good one mate! Stay blessed!
  • #875,389
  • Jun 26, 5:45am (9 hr ago) Jun 26, 5:45am (9 hr ago)
Quoting Abeylyn
{quote} It a bunch of micro activities used to propel the main trading activities. Basically, it's better to wait and trade the macro from 6am or 8am daily (GMT) If you must trade the Asian session, just aim at Short target because less than 10% of the move leads to intraday trend.
100% right, and I've been a victim to that for about half a month now. I aim for 1.5-2RR and my trades always go past the 1RR mark (about 5-6 pips) and then just reverse like an absolute maniac, hit my SL and then reverse again, hit my TP and it's just a cycle over and over and over. My SL are like 4-6 Pips MAX, which should tell you alot if I consider myself more of an intraday trader rather than a scalper.
  • #875,390
  • Jun 26, 5:49am (9 hr ago) Jun 26, 5:49am (9 hr ago)
Quoting msqk
{quote} .... this is a misplaced choice scenario, doing the right thing, however passionate and proffessional it is, at the wrong time. Session are currency dominant and if a preffered qoute is off geolocation then over expectation is total disappointment.
That's bloody spot on you know! This is why I'm glad threads like these exist and I can be enlightened. "however passionate and professional it is, at the wrong time" That's a bar ong.

Since I joined FF mid of april, I was on the charts for 12-14 hours a day. ABSOLUTELY MENTAL that, but I was winning, I was winning A LOT, specially during Asia session cause of too much noise and news volatility during london and NY. So, since about 2 weeks I thought why not just focus on Asia, wrong choice 100% because there's nearly no liquidity and the market is just abhorrent now that I see how Asia's truly supposed to react.

I'll do my best to get more disciplined and only trade London onwards. Appreciate you A LOT gang! May the pips be in your favor
  • #875,391
  • Jun 26, 5:50am (9 hr ago) Jun 26, 5:50am (9 hr ago)
Due to my technical analysis, this is how future price Set- Up of GBPUSD "might" be. So what are your thoughts technically and fundamentally ?
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  • #875,392
  • Jun 26, 5:52am (9 hr ago) Jun 26, 5:52am (9 hr ago)
Bears need this 4hr to close below 1.3216. They are trying really hard.
  • #875,393
  • Jun 26, 6:19am (8 hr ago) Jun 26, 6:19am (8 hr ago)
Quoting Traderview
Bears need this 4hr to close below 1.3216. They are trying really hard.
Waiting for about 1hr 35 more minutes to close.

It has been a vicious battle.
Market Structure is the King.....
  • #875,394
  • Jun 26, 6:40am (8 hr ago) Jun 26, 6:40am (8 hr ago)
Quoting Abeylyn
{quote} Waiting for about 1hr 35 more minutes to close. It has been a vicious battle.
patience will reward you big.
  • #875,395
  • Jun 26, 7:22am (7 hr ago) Jun 26, 7:22am (7 hr ago)
I shorted, bad entry, SL at 1.3220
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  • #875,396
  • Jun 26, 7:50am (7 hr ago) Jun 26, 7:50am (7 hr ago)
Quoting Bflyfx
{quote} et volila! done, more to come but first bounce up is due.
bounce continues
I only follow traders with IQ above 160
Full leverage Bot All Time Return: 12,794.7%
  • #875,397
  • Jun 26, 8:23am (6 hr ago) Jun 26, 8:23am (6 hr ago)
Based on the H4, the bulls has done enough to push this to 1.3267. Long GU into that target.
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  • #875,398
  • Jun 26, 10:55am (4 hr ago) Jun 26, 10:55am (4 hr ago)
Hours of waiting, fooking beautiful rejection
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  • #875,399
  • Jun 26, 11:30am (3 hr ago) Jun 26, 11:30am (3 hr ago)
For me, GU upside is very limited today being Friday. We might probably be closing the day at 1.3232 the current high.

However, it makes more sense if price can still touch 1.3197 today and close below 1.3200.

That would be a nice setup for next week as market opens.

Have a nice weekend friends.
Market Structure is the King.....
  • #875,400
  • Jun 26, 12:10pm (3 hr ago) Jun 26, 12:10pm (3 hr ago)
Quoting Abeylyn
For me, GU upside is very limited today being Friday. We might probably be closing the day at 1.3232 the current high. However, it makes more sense if price can still touch 1.3197 today and close below 1.3200. That would be a nice setup for next week as market opens. Have a nice weekend friends.
I expect 1.3320 (H4 pivot) on Monday, then month-end kicks in.
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