Cable Update (GBPUSD)

250 pips fulfilled ..everything else is just gravy on top! PA as it unfolded today says there is more...so far...let the boss show us the way

Hard to tell. I'm long on the GBP/JPY right now. The GBP/USD has been bearish since like April. I know people are still going to be whining about no deal in place for Brexit yet, but the BoE did raise their interest rate. And overall economic news for the UK has been pretty good for a while. I'm looking for the G/J to bounce back up another 150 pips or so. I think the G/U should gain some kind of bullish momentum for a bit.

It's a co-ordinated stunt between Trump and Barnier to fulfill the technical prophesy

Despite ''no deal'' Brexit fears, GBP/Usd the risk is turned to the upside, Pound benefits from weak Dollar and broke above 1.29 level, possible to knock on the door of 1.3000.

Updating my 5M average chart we can clearly see that the bulls have smashed the 2892 and have the sights set on the 2953 (on the 1H it says 2957)

We should always be wary of rollovers from the trending direction, so as in the current case we buy the dips and if they lead to naught we exit.

You should easily be able to see that failure on one side leads to success on the other. So failure becomes an important aspect to watch for, this is our bread and butter. We may be able to glean other information from other sources but nothing is going to tell more than what the charts are saying.

At the top of this chart we have nothing to trade, we cannot buy tops and should not short because it is against the trend. In other words we need a pullback and see it fail, then and only then do we have the potential for a trade to make the HH.

Our aim is to take high probability trades with the potential to profit far more than we risk. We never add to losing trades better to be stopped out, the winning trades can be maximise with additional entries.

Setting trading rules like this makes all the difference to performance and we find that losses are due to failure to stick steadfastly to the rules. Trying to win every single time is a great thing to aspire to but the facts always remain that sometimes things can go wrong and that is what stops are for.

I'm bulls on gbpusd.

[quote=Nala66;11392988]Updating my 5M average chart we can clearly see that the bulls have smashed the 2892 and have the sights set on the 2953...

And you say you are not a great trader! I like your humility but you are up there. Kudos

Thanks to President Trump

[quote=Bydyke;11393158] Thanks, we do what we can...

Thanks for the update Nala, much appreciated! I agree with you there should be a pullback today of about +/- 60 pips before we make newer highs.

Thereabout at the PP

TG what is your PP level thanks..

1.28702 sorry just got back

hello friend,why did you laugh?i am learning please tell me.
regards.

On the nose TG!

gu d1 + h1

Hi guys,

GU likely to be sideways thursday too before making a decision on Friday.

However, if the price closes below 2880, then ..... could make a reversal, considering today move is just 68 pips.It is only for me.

Price action is basically struggling around a series of horizontal resistance. A major one is just about 140 pips away, around the 1.30710 area.

KP

Boss says "Let's range!"
fair enough it needs to rest....has one more thrust to the 1.2980 - 1.3020 area (as of today)
after that...weekly close and monthly close will tell us if this is just a pullback or the first part to the trend reversal