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Cable Update (GBPUSD)

  • #456,421
  • Nov 10, 2017 6:46am Nov 10, 2017 6:46am
Quoting Not-KPMG
{quote} Bullish??? 2Hr chart??? Wow. Here's my idea. 1.3200 or 3150 sell. 1.2600 TP. {image}
Let the market come to you, patience is the key !
  • #456,422
  • Nov 10, 2017 7:20am Nov 10, 2017 7:20am
The pair seems to be trading sideways.
  • #456,423
  • Nov 10, 2017 7:29am Nov 10, 2017 7:29am
Look at the big picture. What is happening on htfs?

Trade safe and prosper.

KP

Quoting arigoldman
The pair seems to be trading sideways.
Do your homework, follow the footprints of smart money
  • #456,424
  • Nov 10, 2017 8:45am Nov 10, 2017 8:45am
Im bullish on daily chart

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- If you plant corn, you get corn
  • #456,425
  • Nov 10, 2017 11:57am Nov 10, 2017 11:57am
Shorted at 3225, should get back to 3183.

Have a great weekend
  • #456,426
  • Nov 10, 2017 1:28pm Nov 10, 2017 1:28pm
I decided to keep my long position open over the weekend, the pair could reach 1.3300 next week so there's no point in closing it now.
  • #456,427
  • Nov 10, 2017 2:59pm Nov 10, 2017 2:59pm
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90% of traders use TA, indicators and prediction
  • #456,428
  • Nov 10, 2017 11:36pm Nov 10, 2017 11:36pm
Quoting arigoldman
The pair seems to be trading sideways.
You right.
Despite being in a uptrend in the daily and in a downtrend in the weekly.
POW!
  • #456,429
  • Nov 11, 2017 4:15am Nov 11, 2017 4:15am
Quoting fxprimate
{quote} You right. Despite being in a uptrend in the daily and in a downtrend in the weekly.
How can you possibly claim the weekly is is a downtrend.

Or that the daily is trending at all.

Are you sure you are looking at the right pair.
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  • #456,430
  • Nov 11, 2017 5:32am Nov 11, 2017 5:32am
Quoting Nala66
{quote} How can you possibly claim the weekly is is a downtrend. Or that the daily is trending at all. Are you sure you are looking at the right pair. {image} {image}
Hi Nala, I like how you approach the market. I checked out your Quartile thread with great interest, it might prove helpful to keep me in longer than usual in a trending market. You see I too am very happy with 20 pips a day so quite often I miss those 'trends'. If my first trade pays off then that's me for the day so I rarely get more than that. Enjoy your weekend mate.
who dares wins
  • #456,431
  • Nov 11, 2017 5:43am Nov 11, 2017 5:43am
Quoting MasterJedi
{quote} Hi Nala, I like how you approach the market. I checked out your Quartile thread with great interest, it might prove helpful to keep me in longer than usual in a trending market. You see I too am very happy with 20 pips a day so quite often I miss those 'trends'. If my first trade pays off then that's me for the day so I rarely get more than that. Enjoy your weekend mate.
20 pips is plenty to make a darn good profit. Every time I get 20 x 20 pips completed (400) I give myself a pay rise. This keeps the account growing faster but the risk is actually growing less.

This is a tad different from trading with the Quartile where I just use it as a 5% risk to 10% reward.

Whoops forgot to mention a 5% risk is far too high for me now, I much prefer less than 1%
  • #456,432
  • Nov 11, 2017 5:47am Nov 11, 2017 5:47am
G/U 1H... remains inside a RANGE with a triangle
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  • #456,433
  • Nov 11, 2017 7:15am Nov 11, 2017 7:15am
Quoting Nala66
{quote} 20 pips is plenty to make a darn good profit. Every time I get 20 x 20 pips completed (400) I give myself a pay rise. This keeps the account growing faster but the risk is actually growing less. This is a tad different from trading with the Quartile where I just use it as a 5% risk to 10% reward. Whoops forgot to mention a 5% risk is far too high for me now, I much prefer less than 1%
A pay rise after 400pips? does this mean you compound your leverage? that's what I try to do...if I double the balance then I increase the leverage by up to 100%. Eventually as the balance grows then we can scale back on the leverage to protect those winnings further.

I assume that's why you're risking 1% these days, you've reached your overall target so now you can trade happily without much worry? Please don't say it's because 5% is a crazy amount to risk & is doomed to failure I think up to 5% is good, any more is excessive.
who dares wins
  • #456,434
  • Nov 11, 2017 7:56am Nov 11, 2017 7:56am
Quoting MasterJedi
{quote} A pay rise after 400pips? does this mean you compound your leverage? that's what I try to do...if I double the balance then I increase the leverage by up to 100%. Eventually as the balance grows then we can scale back on the leverage to protect those winnings further. I assume that's why you're risking 1% these days, you've reached your overall target so now you can trade happily without much worry? Please don't say it's because 5% is a crazy amount to risk & is doomed to failure I think up to 5% is good, any more is excessive....
No not at all 5% is fair enough on a small account and this is the time to make such a risk when it is money we can afford to risk.

The trouble is if we try to maintain 5% we run into problems later such as slippage on large orders and the psychology of seeing so much flush down the toilet. So we risk a higher % when we can best afford to.

Let's say for example we have a $5000 account and we are making 20 pips worth $200 i.e. $10 a pip. we risk $100 (2%)

We do this for 20 winning trades increasing the account to $9000

Now we increase the 20 pips to $300 risking $150 which is now 1.67%

Thus we have increased our daily bread but decreased the risk.

Our account grows to 20 X 300 + 9000 = $16000

We rinse and repeat 20 pips = $400 = 1.33% risk.

When the risk gets down to less than .5% risk we maintain that level by increasing the 20 pip value accordingly.

At level 11 this would be a $200 increase. At level 12 it would be a $400 increase At level 17 it would be a $600 increase and our 20 pips would now be worth $3600 and our risk 0.47%

Thus it takes 8800 pips to turn $5K into $1m

Risking less than 0.5% is easy on the mind and a loss can be made back easily too. The trick to trading is to get down to this level of risk while still making a very healthy profit from ones initial risk capital.
  • #456,435
  • Nov 11, 2017 8:30am Nov 11, 2017 8:30am
eur gbp has not confirmed the bullish candle nor gbp aud bearish
1 more week above the tl cable this two week we can assume bullish consolidation off a major tl


Quoting Bones
there's some bearish GBP weekly charts,im going to use 2-week chart which close's next week for the outlook gbp has to open bullish pretty much and not break the weeks previous im going into the week saying the weeklies are false cable remains in range cable sits on a major tl I can draw it 2 ways 1 way shown and remain technically correct gbp carries a bullish monthly {image} {image} {image}
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  • #456,436
  • Nov 11, 2017 8:40am Nov 11, 2017 8:40am
im taking the failure of the tl is not short JPY ,
as I think USD is not bearish going into the week and into the month
as GBP

Quoting Bones
{image}{image}
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  • #456,437
  • Nov 11, 2017 6:06pm Nov 11, 2017 6:06pm
Quoting Nala66
{quote} How can you possibly claim the weekly is is a downtrend. Or that the daily is trending at all. Are you sure you are looking at the right pair. {image} {image}
I think so.
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POW!
  • #456,438
  • Nov 11, 2017 8:36pm Nov 11, 2017 8:36pm
Quoting fxprimate
{quote} I think so. {image} {image}

Your weekly is making HH's and HL's That is an uptrend.

Your daily is making equal tops and equal bottoms. That is a sideways range.
  • #456,439
  • Nov 12, 2017 2:35am Nov 12, 2017 2:35am
Quoting Nala66
{quote} Your weekly is making HH's and HL's That is an uptrend. Your daily is making equal tops and equal bottoms. That is a sideways range.
If you say so.


But look better at the charts, please.

Weekly chart: This is usually called a correction in the trend, in this case in a downtrend.
Daily chart: Here you can see an uptrend or the correction of the weekly chart.
And yes we are in a sideway period as you can see in the daily chart or if you want to see better look at the H4 chart.
Attached Image (click to enlarge)
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POW!
  • #456,440
  • Nov 12, 2017 5:40pm Nov 12, 2017 5:40pm
Quoting entheos
short abcd pattern {image}
close 1.3222->1.3162
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