Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

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#602,941
Jun 16, 2021 9:37am Jun 16, 2021 9:37am

OnlineAddict
Joined May 2014 | Status: From1toMillion | 9,530 Posts | Online Now

So, first GU went up most of the day and EU went down most of the day...now EU up and GU down...when market is this messed up, its better to wait and not do anything, because something is "cooking" underneath. Better and safer trades ahead, after FED.

I am waiting for a big spike up during FED, if it happens...to look for shorts. Ideally EU above 2170 and GU above 4150.

Everyone can see the chart, but only a few can actually read it.

From1toMillion EA All Time Return: 4,274.9%

#602,942
Jun 16, 2021 9:41am Jun 16, 2021 9:41am

Moty
Joined Dec 2017 | Status: Trader | 30,705 Posts

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yes yes yes

#602,943
Jun 16, 2021 9:43am Jun 16, 2021 9:43am

Pat Chiko
| Joined Dec 2008 | Status: MMA Pro Wrestler | 17,578 Posts

Quoting Bainbrito

Disliked

{quote} Apologies for how long this post is. I used to blow up account after account (demo thankfully) and spent a lot of time researching this issue. This is from the psychology section of my trading plan: Knowing when to trade is just as important as knowing how. Executing a trade following the plan should make you feel confident. If you don’t feel confident about putting on a trade don’t trade. Wait until you do.

Ignored

Thank you for sharing your wisdom and have respect for your position.

Another vouch worthy post full of wisdom, read and learn folks.

Thanks again, and take care.

I come from the future.

Karen X Mas Bonus 2025 All Time Profit: $15,104

#602,944
Jun 16, 2021 9:45am Jun 16, 2021 9:45am

Nordling
Joined Apr 2021 | Status: Trader | 5,851 Posts

Quoting OnlineAddict

Disliked

So, first GU went up most of the day and EU went down most of the day...now EU up and GU down...when market is this messed up, its better to wait and not do anything, because something is "cooking" underneath. Better and safer trades ahead, after FED. I am waiting for a big spike up during FED, if it happens...to look for shorts. Ideally EU above 2170 and GU above 4150.

Ignored

Now i agree with you. USD has the upper hand against GBP after UK's Inflation numbers that came out today.

You have to have an IQ higher than 90 to interact with this user.

#602,945
Jun 16, 2021 9:48am Jun 16, 2021 9:48am

Moty
Joined Dec 2017 | Status: Trader | 30,705 Posts

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yes yes yes

#602,946
Jun 16, 2021 9:58am Jun 16, 2021 9:58am

Wavegarrick
Joined Sep 2017 | Status: Trader | 4,379 Posts

Quoting Wavegarrick

Disliked

{quote} The sell limit at 1.41268 worked out perfectly, which is also my weekly pivot. Opened another sell trade at 1.40781 with a 30 pip s/loss. It is very important for bears to get a daily close below 1.4100. Trade safe, Cheers. {image}

Ignored

Anyway Folks,
I see a lot of back and forth with, "why are you selling or buying at these levels?". There is something everyone is forgetting these days. We are scalpers, day traders, short term, medium-term, and long term traders all in one room. What a scalper sees as an ideal level to buy will probably be an ideal level to sell for a medium to long-term trader. For me, I see this retrace as an ideal opportunity to sell. Yes, we have important news in a few hours. My stops are in place and I will weather the storm.
Respect each other Folks and all the best with Fomc in a few hours. We are all professionals,, at least I hope

Cheers.

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Trade to trade another day

#602,947
Jun 16, 2021 9:59am Jun 16, 2021 9:59am

palpite
Joined Sep 2015 | Status: Under Pressure | 4,596 Posts

Quoting palpite

Disliked

sell stop - 1.4112

Ignored

closed - 1.4102

Together we can be strongest

Vantage Return This Month: na

#602,948
Jun 16, 2021 10:10am Jun 16, 2021 10:10am

Moty
Joined Dec 2017 | Status: Trader | 30,705 Posts

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yes yes yes

#602,949
Jun 16, 2021 10:10am Jun 16, 2021 10:10am

Pat Chiko
| Joined Dec 2008 | Status: MMA Pro Wrestler | 17,578 Posts

Quoting Wavegarrick

Disliked

{quote} Anyway Folks, I see a lot of back and forth with, "why are you selling or buying at these levels?". There is something everyone is forgetting these days. We are scalpers, day traders, short term, medium-term, and long term traders all in one room. What a scalper sees as an ideal level to buy will probably be an ideal level to sell for a medium to long-term trader. For me, I see this retrace as an ideal opportunity to sell. Yes, we have important news in a few hours. My stops are in place and I will weather the storm. Respect each...

Ignored

Then, I don't want to become Scalper.....
Maybe change my status to scavenger

Since you're a surfer, your trade always amazed me on how you enjoy wade into those waves.

Thanks for posting and sharing for me and others to learn things or two.

Regards.

Pssst/- FOMC to buy or Sell ?