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Cable Update (GBPUSD)

  • #483,861
  • Jul 9, 2019 11:01am Jul 9, 2019 11:01am
Quoting rahadian1
For me both GU and EU still short But, I have backup plan if something wrong happen, {image} I will back if my TP or SL hit.
A trade call!!! thank you!!!
  • #483,862
  • Jul 9, 2019 11:01am Jul 9, 2019 11:01am
Quoting mbrown
{quote} Great post!
Thanks mbrown,...I won't die until I convince people it's crucial to the day trading to stay in one time frame...entry based on analysis of the 15M chart, SL and TP need to be set on the same time frame end of the story...and so on...1H, 4H...
Always trade your own plan...I don't provide trading signals.
  • #483,863
  • Jul 9, 2019 11:07am Jul 9, 2019 11:07am
Quoting Coreg2004
{quote} Thanks mbrown,...I won't die until I convince people it's crucial to the day trading to stay in one time frame...entry based on analysis of the 15M chart, SL and TP need to be set on the same time frame end of the story...and so on...1H, 4H...
It's important but not sure any will take much notice. On FF for years and to this day, you will see multi-day/multi-week swing traders telling 5 pip scalpers they're trading in the wrong direction!!!
  • #483,864
  • Jul 9, 2019 11:13am Jul 9, 2019 11:13am
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The Average Discount Everything
  • #483,865
  • Jul 9, 2019 11:16am Jul 9, 2019 11:16am
Quoting mbrown
For a Bullrun had expected price to takeout 2477 with spite and venom. hasn't happened...eyeing 2422.

I'm actually wrong about the above. There is actually a 88% probability price closes above 2477 after venturing lower than 2444 but too fatigued to take the trade! Fatigue makes cowards of us all!!!
  • #483,866
  • Jul 9, 2019 11:19am Jul 9, 2019 11:19am
Quoting mbrown
{quote} I'm actually wrong about the above. There is actually a 88% probability price closes above 2477 after venturing lower than 2444 but too fatigued to take the trade! Fatigue makes cowards of us all!!!
What you saying is this is going down to 2444 and then go above 2477.
Don't trade what you think. Just what you see!!!
  • #483,867
  • Jul 9, 2019 11:21am Jul 9, 2019 11:21am
Quoting Theoak
{quote} What you saying is this is going down to 2444 and then go above 2477.
I have 2448 then above 2477.
  • #483,868
  • Jul 9, 2019 11:21am Jul 9, 2019 11:21am
Quoting forex_dimi
{quote} It was a good call, had the same short at 66, at the break of 58, thought market would go down to 45, and at the retracement saw this (not sure if this fibo is in efect-have various in other charts) Powell didn't say anything about rates and Fed's Harker said no need for rate cuts. {image}
Well I'm back in this shorting trying for original target. Are you a FIB fan?
Don't trade what you think. Just what you see!!!
  • #483,869
  • Jul 9, 2019 11:27am Jul 9, 2019 11:27am
Hi Guys,
Whilst I welcome Bears going in my trade direction I am very observant of these levels. Will I add shorts? = No. Dingoman posted a very nice monthly chart earlier and last years low at 1.24088 ish give and take. My take - what goes up must come down and what goes down must go up, irrespective of fundamentals. Do I see a definite collapse in the pound, bloody hell - No. It is a matter of days for me and perhaps tomorrow could see more down. For now I sit on the side lines. Thursday could see something happening. I wait patiently. My weekly support at 1.24349.
Cheers.
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Trade to trade another day
  • #483,870
  • Jul 9, 2019 11:29am Jul 9, 2019 11:29am
Quoting mbrown
{quote} I have 2448 then above 2477.
Well there's your 2448. You going long now?
Don't trade what you think. Just what you see!!!
  • #483,871
  • Jul 9, 2019 11:30am Jul 9, 2019 11:30am
Tricky stuff.bears still in power
  • #483,872
  • Jul 9, 2019 11:32am Jul 9, 2019 11:32am
Not sure how the H1 candle will close but I think this might find support at 1.24500 for now. Then prices might range and hover above till more action tomorrow. The other possibility is of course retesting today's low again!
  • #483,873
  • Jul 9, 2019 11:35am Jul 9, 2019 11:35am
Quoting Theoak
{quote} Well there's your 2448. You going long now?
Yep...followed by a nice bounce...let's see.

Are you still holding your short?


I hope this isn't the start of some type of competition. I'm too old for such things.
  • #483,874
  • Jul 9, 2019 11:37am Jul 9, 2019 11:37am
Quoting mbrown
{quote} It's important but not sure any will take much notice. On FF for years and to this day, you will see multi-day/multi-week swing traders telling 5 pip scalpers they're trading in the wrong direction!!!
Same thinking here...Excerpt from FF posts..
Fellow X...I go long for the quick scalp of 5 pips
Fellow Y... Are you insane? Have you seen a monthly chart?.... LOL
I exaggerate, but something close to it.
Always trade your own plan...I don't provide trading signals.
  • #483,875
  • Jul 9, 2019 11:40am Jul 9, 2019 11:40am
Quoting Theoak
{quote} Well I'm back in this shorting trying for original target. Are you a FIB fan?
Where did you enter and where is your SL?

Tired but took a piece. Closed all but 1 unit for +10. BE+ 2 for the remainder.
  • #483,876
  • Jul 9, 2019 11:44am Jul 9, 2019 11:44am
Quoting Theoak
{quote} Well I'm back in this shorting trying for original target. Are you a FIB fan?
Fibs are great when paired with daily pivots and past resistance/supports! Reason why I took a short at 1.2470
They are sometimes so damn clear! But I always wait for a few confirmation candles before opening trades.
  • #483,877
  • Jul 9, 2019 11:45am Jul 9, 2019 11:45am
Quoting mbrown
{quote} Yep...followed by a nice bounce...let's see. Are you still holding your short? I hope this isn't the start of some type of competition. I'm too old for such things.
No I dumped it and then jumped back on the short at 1.2456
Don't trade what you think. Just what you see!!!
  • #483,878
  • Jul 9, 2019 11:48am Jul 9, 2019 11:48am
Quoting kelvinftg
{quote} Fibs are great when paired with daily pivots and past resistance/supports! Reason why I took a short at 1.2470 They are sometimes so damn clear! But I always wait for a few confirmation candles before opening trades.
I keep saying it, but will have to get my head around fibs.
Don't trade what you think. Just what you see!!!
  • #483,879
  • Jul 9, 2019 11:49am Jul 9, 2019 11:49am
1.25000 is my break even price
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yes yes yes
  • #483,880
  • Jul 9, 2019 11:52am Jul 9, 2019 11:52am
Quoting Moty
1.25000 is my break even price {image} {image}
67% probability.


Fortunately, I managed to claw myself back to break-even.


Quoting Theoak
{quote} No I dumped it and then jumped back on the short at 1.2456
What's your SL if you don't mind sharing?

No SL?
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