Cable Update (GBPUSD)

best protected now

Agree.
The only thing we can control is how much we are ready to lose.

can you control how much you are ready to win?

Checking pa now after I missed the 2804 bounce , so will see if any correction before 2844 try next if !
Signal. 2800/ 2795 for tl /breakout confirmation 2788.
Testing confirmation and breaks hold initial target goes to 2775.
Must care level is 2782 as may bounce over it !

Scala, where are your targets?

2720

I really need to learn from you

Well, 2720 is obvious, but you are very good trader. I really need to learn from you.

Added a fat sell @1.2807

how fat?

Exited at 1.2784 +20 pips...

Poor US data could allow it to retest the 12840 area which on last 2 attempts resisted really well. A break above takes us to previous support area of 12870

Should I wait until CPI news is released to take the trade?
It's only one more day.

there is data today too, depending on how much you want to play on the volatility

Nope, that is in the hand of the market.
This is why sometimes when we place a profit target which we can perceive from market experience/backtests/or whatever system is used, the market either
#1 Stop out us immediately or
#2 Reach it or,
#3 Reach it only half way and reverse or,
#4 Reach it and continue trending in the direction
We dont control how price will unfold.

#1 Can be eliminated by trading the confirmation of your setup instead of the signal. You run lesser possibility of getting caught trying to catch top or bottom.

We have many books out there teaching us about risk control, but far best for profit taking technique and mix with psychology remain the book wrote by MD "Trade in the Zone." He gave a blueprint to a way of profit taking, we just need to arrange the mathematical formulae in such a way that it yields the best for us even when dealing with the worst case scenario.

That the way of mixing high reward to risk perceivable trade with a decent win rate.

If one want to bet only on his win rate, sooner than later, dude will find himself back to where he started and complaining about he did everything right but why it didnt worked? This cycle goes on as it took only one trade to blow up an account.

A very good target at 1.2720. If price is able to break the Support at 1.2740/1.2743

layered btc buy here

taken half before data I think can be green and push some optimizm to dollar, lets see

bad

yup not much of a spike though