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Cable Update (GBPUSD)

  • #505,881
  • Dec 11, 2019 8:25am Dec 11, 2019 8:25am
the head & shoulders might happen
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  • #505,882
  • Dec 11, 2019 8:47am Dec 11, 2019 8:47am
3185.. watch out for short.
Intraday only.
  • #505,883
  • Dec 11, 2019 9:10am Dec 11, 2019 9:10am
Quoting navk
3185.. watch out for short.
my entry this morning was a little early

i am short now
  • #505,884
  • Dec 11, 2019 9:27am Dec 11, 2019 9:27am
Quoting thevisitor
{quote} my entry this morning was a little early i am short now
TV, be mindful of what to expect...other options are on the table too...
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Always trade your own plan...I don't provide trading signals.
  • #505,885
  • Dec 11, 2019 9:35am Dec 11, 2019 9:35am
Quoting 19monza64
{image}
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  • #505,886
  • Dec 11, 2019 9:47am Dec 11, 2019 9:47am
Quoting 19monza64
{quote} {image}
close +4 pips
  • #505,887
  • Dec 11, 2019 10:12am Dec 11, 2019 10:12am
Quoting Moty
{image}
In at 1.3184 as mentionned earlier
COT: The precious data ignored
  • #505,888
  • Dec 11, 2019 10:16am Dec 11, 2019 10:16am
Quoting Coreg2004
{quote} TV, be mindful of what to expect...other options are on the table too... {image}
coreg you are absolute right.
unluckily i've closed my longs too early and went short with a little loss...
  • #505,889
  • Dec 11, 2019 10:28am Dec 11, 2019 10:28am
Quoting thevisitor
{quote} coreg you are absolute right. unluckily i've closed my longs too early and went short with a little loss...
Don't look back on your executive decisions...Contemplate scenarios and SL (can I afford e.g >than 30pips?)Yesterday I refused to pay 6 pips spread and gave up 40+pips (potential W_4 after abc)...Now the possible play is 3-3-5 so you are all good.
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Always trade your own plan...I don't provide trading signals.
  • #505,890
  • Dec 11, 2019 11:11am Dec 11, 2019 11:11am
Quoting Coreg2004
{quote} Don't look back on your executive decisions...Contemplate scenarios and SL (can I afford e.g >than 30pips?)Yesterday I refused to pay 6 pips spread and gave up 40+pips (potential W_4 after abc)...Now the possible play is 3-3-5 so you are all good. {image}
holding a short since yesterday and today have confused me all day, we closed the complete pullback without any news. Tonight it appears with the FED that the GBP will skyrocket towards 1.32xx min? I am a new trader so just did not get the logic that the price would close back today. The only reasoning would be that some took profit yesterday with the only aim to buy again at lower price?
  • #505,891
  • Dec 11, 2019 11:21am Dec 11, 2019 11:21am
Quoting krst8
{quote} holding a short since yesterday and today have confused me all day, we closed the complete pullback without any news. Tonight it appears with the FED that the GBP will skyrocket towards 1.32xx min? I am a new trader so just did not get the logic that the price would close back today. The only reasoning would be that some took profit yesterday with the only aim to buy again at lower price?
The UK general election is to be held tomorrow, so I would stay away from GBP pairs for a few days to be safe.
Pip Goes The Weasel
  • #505,892
  • Dec 11, 2019 11:26am Dec 11, 2019 11:26am
Welcome to FF mate. You need to know why you are entering a trade - the justification and criteria, identify the possible target and exit levels/areas and any condition that may invalidate the trade. The GBPUSD market is presently in a ranging/sideways mode and it is risky to hold a directional bias for any considerable length of time.

Trade safe.

KP

Quoting krst8
{quote} holding a short since yesterday and today have confused me all day, we closed the complete pullback without any news. Tonight it appears with the FED that the GBP will skyrocket towards 1.32xx min? I am a new trader so just did not get the logic that the price would close back today. The only reasoning would be that some took profit yesterday with the only aim to buy again at lower price?
Do your homework, follow the footprints of smart money
  • #505,893
  • Dec 11, 2019 11:43am Dec 11, 2019 11:43am
Quoting krst8
{quote} holding a short since yesterday and today have confused me all day, we closed the complete pullback without any news. Tonight it appears with the FED that the GBP will skyrocket towards 1.32xx min? I am a new trader so just did not get the logic that the price would close back today. The only reasoning would be that some took profit yesterday with the only aim to buy again at lower price?
krst8, I am pattern trader (Elliot Waves, Harmonic Patterns, Weekly & Daily Ranges) so the news is not important to me besides the fact that if I am in the trade during the news my SL or TP will be hit quicker... and I don't look for the logic, quite opposite. Think of it as a paradoxical event, the market will do the exact opposite of what might be reasonably expected to occur (especially at the open of any session-Tokyo, London, NY)...Give yourself the time, put a lot of hours studying the market and you should be good. This is not cliche, experience, and the right mindset counts the most in this business or at least I think so...Good luck with your trading.
Always trade your own plan...I don't provide trading signals.
  • #505,894
  • Dec 11, 2019 11:48am Dec 11, 2019 11:48am
Quoting krst8
{quote} holding a short since yesterday and today have confused me all day, we closed the complete pullback without any news. Tonight it appears with the FED that the GBP will skyrocket towards 1.32xx min? I am a new trader so just did not get the logic that the price would close back today. The only reasoning would be that some took profit yesterday with the only aim to buy again at lower price?
Hello my frined.I am a new trader like you.I made some profit the past 2 months trading only cable.Its everything about the elections at this moment.Probably the market over reacted yesterday to maximize profits that's why the 100 pip drop.Apparently they hold their view about the winner- boris- even though the YouGov poll showed a narrowing Gap.Maybe they have some inside information.After all money can buy anything these days.Take care and stay Green mate.
  • #505,895
  • Dec 11, 2019 12:01pm Dec 11, 2019 12:01pm
Quoting adrazz
{quote} The UK general election is to be held tomorrow, so I would stay away from GBP pairs for a few days to be safe.
yup..me too
  • #505,896
  • Dec 11, 2019 12:01pm Dec 11, 2019 12:01pm
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yes yes yes
  • #505,897
  • Dec 11, 2019 12:08pm Dec 11, 2019 12:08pm
Quoting Supermarios
{quote} Hello my frined.I am a new trader like you.I made some profit the past 2 months trading only cable.Its everything about the elections at this moment.Probably the market over reacted yesterday to maximize profits that's why the 100 pip drop.Apparently they hold their view about the winner- boris- even though the YouGov poll showed a narrowing Gap.Maybe they have some inside information.After all money can buy anything these days.Take care and stay Green mate.

yeah me to made some but lost it all in the last 8 days so realistically that i am not into this game yet. I may only agree with your comments! The election just that we are now above the price levels that were the days of the voting last October of brexit, and the election is not even finished...
  • #505,898
  • Dec 11, 2019 12:15pm Dec 11, 2019 12:15pm
Still inside

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  • #505,899
  • Dec 11, 2019 12:34pm Dec 11, 2019 12:34pm
It is so weird how hardly GBPUSD go up with negative delta. GBP is completely off the hook with TA today. Might be because of upcoming events. Character of GBPUSD is yet different than before
I make perfect trades. But terribly manage it
  • #505,900
  • Dec 11, 2019 12:34pm Dec 11, 2019 12:34pm
Quoting krst8
{quote} yeah me to made some but lost it all in the last 8 days so realistically that i am not into this game yet. I may only agree with your comments! The election just that we are now above the price levels that were the days of the voting last October of brexit, and the election is not even finished...
Yes the price is above that level but i think this is because if Boris wins with majority then the Brexit is sure.Every trader has its style.Mine is based on fundamentals.I think that market moves cause of the news.Of course there is manipulation no one argues but after all the market reacts to certain things that were or are about to happen.
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