Cable Update (GBPUSD)

Right now on Cable I'd either be short or flat - I'm not short, so I'm flat...

Hi Sunny, 15min charts are not my strong point I must admit

Hi mate. No prob.
I'm out now. It should go below curren price, I think 1.22000. But, no nerves for that. Even on my demo.

Im going for 1.2216. It doesnt want to go down.

Daily tf clearly show no momentum b/o.
prefer to wait until some big movement.
if need to take trade, prefer to short.
tq

Yeah seems stubborn.
Although the whole upwards move started at 1.22100 but thats just not a credible level.
1.2198 is more credible but still doesn't seem THE turnaround point either...

I just closed it. Need to sleep. Here is 4.30 am

Hello to everyone

Next week it is possible that the market will take a clear direction

USD is funnily strong across the board .

Pls what is the name of the indicator in the first pic?

https://www.mql5.com/en/market/product/3033 You can buy it on the market

It must have some advantage, what can one use it for ?

Thinking 121 800 zone for a long position - waiting this one out.

Well this is Market Profile and about it there is a big quantity of litterature.
You can start with this book https://www.amazon.it/Steidlmayer-Ma.../dp/0471215562 (you can find it on pdf on internet).
After there are other books but I suggest the books of James Dalton.
It is not an indicator like RSI, bollinger, TEMA etc etc. It is a tool used to organize data and understand who is operating in the market (I mean, big investors, small etc).
It takes a huge quantity of time to learn it.
Buying the indicator without knowing what it Market Profile it is a waste of time.
Most at all, you have to intertwine market profile infos with other tools (picture, support and resitence etc etc).
It simply let you know if what you have in mind can be a good trade or not

PS. I try to be as much simple as possible.
What I say now it doesn't mean that I am good and others suck (some very skilled traders here has given me very good lessons and have helped me to develop my skills).
As you can see in this forum many people get result (positive or not).
Many of them has a huge profit and a huge quantity of losses --> this is not good.
A lot of them use different tools to understand the market: bollingers + rsi, tema, kama, ADP, fractals (I used too in the past) --> this means that it doens't exist the correct view

What I mean is that between all the people that trade and write here VERY FEW are able to live with trading that means that it is their full time work. Other people have a view that is limited to only few information and consequentely they lose.

Market Profile should help you to understand the situation.

You can ask to yourself, why are you writing here? simply to see what is the general view

Hmmmn, good explanation, I appreciate. Thanks sir.

You are welcome

just short GBPUSD, TP small pips. because of the momentum down.

Put longs out of their misery around 2208. Just left with shorts running

Looking like Monday to re check for long position.

Scaling in my longs now. Target 1.22 or lower, just a quick rebounce. That sell-off was too sharp.