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Cable Update (GBPUSD)

  • #490,241
  • Aug 20, 2019 11:56am Aug 20, 2019 11:56am
I had 1.22 I believe as a target before seeing a pull back or bearish continuation, I’m going to update a second target to 1.225 should we break the triangle.

Of course I could be humbled by the market.
Just sharing my thoughts
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  • #490,242
  • Aug 20, 2019 12:09pm Aug 20, 2019 12:09pm
o.k , it took almost 3 hours , BUT ,MONEY IS MONEY , better take it before it runs away .
i try a little short for 20-25 pips
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yes yes yes
  • #490,243
  • Aug 20, 2019 12:13pm Aug 20, 2019 12:13pm
Algo Bot forecast a short week but also predicted a spike long for today. It didn't unfold exactly as i thought but non the less the final result has come out correct. SO now we should drop like a brick and out of the channel. RR is very good to put a stop above here and see if this crashes as forecast.
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  • #490,244
  • Aug 20, 2019 12:17pm Aug 20, 2019 12:17pm
Quoting Moty
{quote} You are right,my friend Mister comeback is in the house All out !!! At daily r1 1.21622 {image}
good bro. dont forget to withdraw the profit.
Never follow/blame others,Patience is the key skill for Succesfull trading.
  • #490,245
  • Aug 20, 2019 12:38pm Aug 20, 2019 12:38pm
Just cashed out for just under 0.4% over 7 days (about 140 pips). The swaps were getting too expensive so I just took the cash.

I'm pretty sure we've found the bottom, but that's not my concern anymore because I no longer have a position...
  • #490,246
  • Edited 1:25pm Aug 20, 2019 12:45pm | Edited 1:25pm
A day in the life of a full time traders life.
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  • #490,247
  • Aug 20, 2019 12:53pm Aug 20, 2019 12:53pm
Quoting Neil0163
I had 1.22 I believe as a target before seeing a pull back or bearish continuation, I’m going to update a second target to 1.225 should we break the triangle. Of course I could be humbled by the market. Just sharing my thoughts {image}
Hi dear
it is safe to assume that trendline is broken when price close above or below the lines... how do you spot fake out while relying on trendlines..
I appreciate your guidance.
thanks
sell strength in falling markets, and buy weakness in rising markets.
  • #490,248
  • Aug 20, 2019 12:57pm Aug 20, 2019 12:57pm
the reason behind rebound.
https://www.politico.eu/article/merk...order-problem/
sell strength in falling markets, and buy weakness in rising markets.
  • #490,249
  • Aug 20, 2019 12:57pm Aug 20, 2019 12:57pm
Quoting htcone
{quote} Hi dear it is safe to assume that trendline is broken when price close above or below the lines... how do you spot fake out while relying on trendlines.. I appreciate your guidance. thanks
These should help you out my friend

https://www.dailyfx.com/forex/educat...Breakouts.html

https://priceaction.com/price-action...lse-break-out/
  • #490,250
  • Aug 20, 2019 12:58pm Aug 20, 2019 12:58pm
Quoting sgkrishn
{quote} good bro. dont forget to withdraw the profit.
yes yes .
last time i had 1250 $ and i withdraw 750 .
now i turn it to 1000$ from 500 in 2 days
now again i will withdraw 500
yes yes yes
  • #490,251
  • Aug 20, 2019 1:03pm Aug 20, 2019 1:03pm
Quoting Dingoman-two
{quote} These should help you out my friend https://www.dailyfx.com/forex/educat...Breakouts.html https://priceaction.com/price-action...lse-break-out/
great thanks
sell strength in falling markets, and buy weakness in rising markets.
  • #490,252
  • Aug 20, 2019 1:04pm Aug 20, 2019 1:04pm
Quoting Moty
{quote} yes yes . last time i had 1250 $ and i withdraw 750 . now i turn it to 1000$ from 500 in 2 days now again i will withdraw 500
Good for you Moty keep it up my friend.
  • #490,253
  • Aug 20, 2019 1:16pm Aug 20, 2019 1:16pm
It would be profitable for me to test the upper band of the short term channel. I was late to the party today, but for the noob that I am...really glad with the entry I managed to get for the short term scalp. Guess we have to monitor the PA and see what the future will bring ....

followed the thread in these past days ... interesting to see all the views.

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Fearful in losing, hopeful in winning.
  • #490,254
  • Aug 20, 2019 1:16pm Aug 20, 2019 1:16pm
Quoting htcone
the reason behind rebound. https://www.politico.eu/article/merk...order-problem/
yes but why up after negative news?
  • #490,255
  • Aug 20, 2019 1:24pm Aug 20, 2019 1:24pm
Quoting sgmf
{quote} yes but why up after negative news?
is not negative but positive for gbp as Europe is demonstrating some flexibility regarding Irish border
sell strength in falling markets, and buy weakness in rising markets.
  • #490,256
  • Aug 20, 2019 1:35pm Aug 20, 2019 1:35pm
Quoting htcone
{quote} is not negative but positive for gbp as Europe is demonstrating some flexibility regarding Irish border
they must find a solution for this border while hard Brexit is so close, that was obvious
"but this does not mean re-opening the Withdrawal Agreement", so no new negotiations...
  • #490,257
  • Aug 20, 2019 1:46pm Aug 20, 2019 1:46pm
Quoting SilverBolt
Algo Bot forecast a short week but also predicted a spike long for today. It didn't unfold exactly as i thought but non the less the final result has come out correct. SO now we should drop like a brick and out of the channel. RR is very good to put a stop above here and see if this crashes as forecast. {image} {image}
Interesting stuff Silverbolt, Following with interest.
Thanks
Trade to trade another day
  • #490,258
  • Aug 20, 2019 1:46pm Aug 20, 2019 1:46pm
If ur a bull cross these lines h 4 chart
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  • #490,259
  • Aug 20, 2019 2:14pm Aug 20, 2019 2:14pm
H4 chart and the pin bar and the economy
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  • #490,260
  • Aug 20, 2019 2:15pm Aug 20, 2019 2:15pm
Quoting htcone
{quote} Hi dear it is safe to assume that trendline is broken when price close above or below the lines... how do you spot fake out while relying on trendlines.. I appreciate your guidance. thanks
Of course you can’t be 100% but wait for a clear big shift candle (a shift candle will be a big candle that breaks and closes above the trendline) if after the break the following candle goes in the opposite direction and closes near enough the same length of the breakout candle this can be considered a fake out.

To avoid this wait for the big breakout candle to close above or below the trendline (depending if your going long or short) then what should follow after that is a weak (small wickey candles) pullback, this will usually test either the trendline which has just broke OR a structure level below where the trendline is.
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