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Cable Update (GBPUSD)

  • #464,941
  • Sep 18, 2018 1:23am Sep 18, 2018 1:23am
Quoting babakeni
Price heading towards major resistance at 1.3210. Possible retracement thereafter. Planned selling sub 1.3100. {image}
breakout may happen upside no bearish momentum
  • #464,942
  • Sep 18, 2018 1:47am Sep 18, 2018 1:47am
On the hour the average has made the 3134 swing average but has failed to take out the price level of 3180 so this could be a short setting up.
  • #464,943
  • Sep 18, 2018 2:31am Sep 18, 2018 2:31am
Quoting Dr.Zain
{quote} Most probably going to 3135!!!
If clears 3135 would rally to 3210!!!!
  • #464,944
  • Sep 18, 2018 2:35am Sep 18, 2018 2:35am
Quoting ffmonry
{quote} breakout may happen upside no bearish momentum
Yes. It is still bullish towards 1.3210. My selling is subsequent to it getting there and upon further retracement sub 1.3100.
  • #464,945
  • Sep 18, 2018 4:48am Sep 18, 2018 4:48am
It's like the bears have now run out of gas. The next 15 minutes might confirm this, most likely
  • #464,946
  • Sep 18, 2018 4:54am Sep 18, 2018 4:54am
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_2018-09-18-04-50-11.png Size: 129 KB


Good morning fellow gbpusd huntrrs. My system says GU drops to green bdfore touching the red. Lets see if it works out. Risking over 15% of my account on this.
1% a day keeps the 9 to 5 away. Even with 500usd account!
  • #464,947
  • Sep 18, 2018 5:03am Sep 18, 2018 5:03am
The bears are still with a fight but the bulls are at the verge of taking out both the DP and WR38 at 3130 and 3132 respectively. Once this is done, it is bon voyage, on the face of it
  • #464,948
  • Sep 18, 2018 5:10am Sep 18, 2018 5:10am
Quoting OddReality
{image} Good morning fellow gbpusd huntrrs. My system says GU drops to green bdfore touching the red. Lets see if it works out. Risking over 15% of my account on this.

Why is your lot size so large? 4.02! Remember the maxim: never risk more than 2% of your capital. If you are new in forex, start with lot size of 0.01. Forget all the tirades, there are no quick fixes in forex.

And most pointedly, GU is an uptrend at the moment.

I suggest that you close that your sell trade now and wait for the next set-up. Goodluck
  • #464,949
  • Sep 18, 2018 5:11am Sep 18, 2018 5:11am
Attached Image (click to enlarge)
Click to Enlarge Name: gguuuyu.png Size: 23 KB
www.sme-fx.com
  • #464,950
  • Sep 18, 2018 5:21am Sep 18, 2018 5:21am
Quoting Bydyke
{quote} Why is your lot size so large? 4.02! Remember the maxim: never risk more than 2% of your capital. If you are new in forex, start with lot size of 0.01. Forget all the tirades, there are no quick fixes in forex. And most pointedly, GU is an uptrend at the moment. I suggest that you close that your sell trade now and wait for the next set-up. Goodluck
This makes no sense to me...

The trade is on the 1 minute chart which is definitely trending down?

If one is only going to risk 2% of a trading account then why have the money there in the first place, may as well leave it in the bank.
  • #464,951
  • Sep 18, 2018 5:32am Sep 18, 2018 5:32am
Quoting FractalFreak
{image}
how do i read your charts? they seem to be quite contrary to the price movement?
  • #464,952
  • Sep 18, 2018 5:33am Sep 18, 2018 5:33am
Quoting Nala66
{quote} This makes no sense to me... The trade is on the 1 minute chart which is definitely trending down? If one is only going to risk 2% of a trading account then why have the money there in the first place, may as well leave it in the bank.

The 2% stuff is definitely not for an experienced trader like you but for a newbie, yes.

I was about to comment on your last post (464943) above before I saw this response of yours. You have a foolproof system and I still urge you to start a thread. It will be of benefit to the world of forex
  • #464,953
  • Sep 18, 2018 5:42am Sep 18, 2018 5:42am
Price has tried several times now to make it beyond the 50% of the up move but it just keeps failing so I closed there.

To me the most important thing is to watch for these failures, that is why I said it failed at the top so a short is risked on a retracement. So two entries made accumulating 75 pips or so.

Price now looks tired (and me too) though I think it is now long having failed at the 50% level.
  • #464,954
  • Sep 18, 2018 5:43am Sep 18, 2018 5:43am
"how do i read your charts? they seem to be quite contrary to the price movement?"


Not at all.


Look at DM shorties (red bars) getting crashed.

Read my thread:

https://www.forexfactory.com/showthr...2#post11490152
www.sme-fx.com
  • #464,955
  • Sep 18, 2018 5:50am Sep 18, 2018 5:50am
Bulls on the march!
Attached Image (click to enlarge)
Click to Enlarge Name: GU1809B.png Size: 22 KB
  • #464,956
  • Sep 18, 2018 5:53am Sep 18, 2018 5:53am
Quoting Bydyke
{quote} The 2% stuff is definitely not for an experienced trader like you but for a newbie, yes. I was about to comment on your last post (464943) above before I saw this response of yours. You have a foolproof system and I still urge you to start a thread. It will be of benefit to the world of forex
Oh no no no my trading is far from fool proof, I get stopped out heaps of times. However my stops are tight because if the trade isn't working then putting in a wider stop isn't going to fix it. Once the trade is working then I add to it compounding the winnings and again I often get stopped out doing this.

It is when things go right and according to plan I win big time so stops to me are just a part of the game. As per now I am three trades long with the stop at the highest one. So I can only win from here on in and have no money left to add more trades, I don't like to use the equity winnings.

Funny you said that about starting a thread... I was going to do just that last weekend but I couldn't remember how to.
  • #464,957
  • Sep 18, 2018 5:56am Sep 18, 2018 5:56am
I just closed all the longs for another 38 pips.
  • #464,958
  • Sep 18, 2018 6:08am Sep 18, 2018 6:08am
buy gbp 1.3250 is coming. its only buy on dips pair
  • #464,959
  • Sep 18, 2018 6:21am Sep 18, 2018 6:21am
GBPUSD broke out of the resistance level. If bears are able to bring it down below 1.31 we will again enter into the downward trend channel.
  • #464,960
  • Sep 18, 2018 6:28am Sep 18, 2018 6:28am
Quoting ffmonry
buy gbp 1.3250 is coming. its only buy on dips pair
Trend is changing. Down trend. 1.32 resistance strong hard to break.
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