Cable Update (GBPUSD)

the short worked out fine this morning thank you
After that i went long...

hows life kpmg?
you know your posts are getting more erratic.
are you ok?

well done to the down stairs

I respect all the muslim brothers

It is astounding how many people on this thread that do not understand what you mean when you say follow the momentum.
On a pair like GU following the orderflow is critical, and it changes often. And no level is gonna do more than pause it a little bit before the steam train rolls over it.
Reading the chart and following the money is the best way, thinking too much does not work. And levels are for EURUSD.
(OK, too categorical, I know).

Looks like I am one of those people, would you mind elaborate on following the order flow, do you follow it via volume, depth of market or microstructures???

tp moved to 1.23288

It is about who is in charge, the bulls or the bears, or the third, equally valid option, none (ranging). Who is driving the market right now. What happened yesterday or the last week has validity, but the focus is on here and now cause past performance is no guarantee for future price development. The point I was trying to make is that a lot of people like to think trades. Don't do that, just read the chart and follow the direction here and now. Overanalyzing and overthinking do not work, eliminate as much of your own subjectivity as possible, and follow the direction of the market. With a stop loss and sound money management. The market does not give a shit about your opinion, so if proven wrong, close your trade and reverse direction.

Personally, I use price action to analyze the market, M5 chart with inference from H1 and H4.
So we use the basics like higher highs and higher lows for uptrend, the aggressiveness and length of the swings, the angle of the swing, how deep or shallow are the pullbacks, etc. And a moving average is useful as well. So very basic setup, and follow the price development. And do not think trades. Instead read the chart, candle by candle, and do not marry a direction. Be humble and change direction if that is what the chart tells you.

Lastly, I will add that trading is not a science. You cannot study it and KNOW where price is going. It is about probabilities and good money management. Too many people want to know where price is heading, but you cannot, the market is far too complex and erratic for that. So what is trading then? I would describe it as an art, you need to live with the market for a while, get a feel for it, remove certainties, and (like Bruce Lee said) be water.
Good luck traders.

GU H1 looks like 3 peaks will repeat once again. Looking for reaction near 2420//2440.
Initial target is 2220//2240 on sell side.

Right!

I feel 1.2440 is the level bulls are aiming. Good luck

GBPUSD-H1=FORECAST

YOU HAVE JUST POLITICS Boris Johnson REMAIN HERE

Checking usdx before sleep, though looks stong bearish but on daily weekly support now and may start bull again arounds. Lets see if works well next day onwards! So care .

RIP, just sold and it shot up!

Too much i made from indian stock market as well from forex

Seems the move upside is likely, but politics turmoil in UK kept it in check, so can expect swing hi-lo today, maybe in the range of 40-140 just like yesterday

DAILY TOMM

so range up running still. watching for a bo at 2318 arounds .lets see

Moty, I feel like a bottom is in place, the next target should be 1.2540 followed by 1.2704, that is not going to happen today or tomorrow for sure, but the elliot wave analysis is pointing towards that.