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Cable Update (GBPUSD)

  • #508,481
  • Jan 14, 2020 6:18am Jan 14, 2020 6:18am
Hello, seems we still have small bear at 1.3000-1.3010. So I will meet you again at 1.2950-60 area
  • #508,482
  • Jan 14, 2020 6:21am Jan 14, 2020 6:21am
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yes yes yes
  • #508,483
  • Jan 14, 2020 6:22am Jan 14, 2020 6:22am
Quoting Guztro
{quote} I analyse COTS as well, and I can tell you with certainty that it is useless for intraday trading. Guz
Very true, i wanted to say for longer term. If you use m5 chart i totally agree

h4/daily/weekly is a different story

Best of luck
COT: The precious data ignored
  • #508,484
  • Jan 14, 2020 6:22am Jan 14, 2020 6:22am
Quoting Piparins
{quote} Can you please provide the source of your information?
COT report, cftc.gov

Or check my journal if you are curious

Good luck in your trading
COT: The precious data ignored
  • #508,485
  • Jan 14, 2020 6:22am Jan 14, 2020 6:22am
It's like we've got our bull support on M5 at 2987.
Long 2993, SL 2965, TP1 3024, TP2 3044
  • #508,486
  • Jan 14, 2020 6:24am Jan 14, 2020 6:24am
Quoting Bydyke
It's like we've got our bull support on M5 at 2987. Long 2993, SL 2965, TP1 3024, TP2 3044
GL buddy
just for a cup of coffee...
  • #508,487
  • Jan 14, 2020 6:26am Jan 14, 2020 6:26am
Quoting akim0895
{quote} GL buddy
Haha i try long when it break 3005 but the 15m not allow so i cut -7 pip and miss enter bear
  • #508,488
  • Jan 14, 2020 6:28am Jan 14, 2020 6:28am
Quoting LeongPuiy
{quote} Haha i try long when it break 3005 but the 15m not allow so i cut -7 pip and miss enter bear
ha ha..
mistake that should not do
buy at high price and sell at low price..
just for a cup of coffee...
  • #508,489
  • Jan 14, 2020 6:33am Jan 14, 2020 6:33am
Quoting Moty
{quote} This is so ugly . Because they took from me all the profit that i made last week with that Delusional gap down and a massive.( What was that ? Is it because prince harry leaving? ) And then after i decided to join the short train , tgen they decided to revarse on me , and now it seem that they are going to close the gap. My tp is 1.30621 , the gap close area. If it will go there , i will earn all the loses back .
I think that your profit targets might be a little too much.
Have you ever considered taking 20-30 pips per trade and then wait/re-strategize for the next trade (instead of reacting)?
For example, the critical point for today was 1.3012 IMO, but the end TP will be around 1.29. By looking at the DAILY and 4HR chart, it is clear that this is still heading down to that level before correcting up.
Lost....
  • #508,490
  • Jan 14, 2020 6:33am Jan 14, 2020 6:33am
Quoting Bydyke
It's like we've got our bull support on M5 at 2987. Long 2993, SL 2965, TP1 3024, TP2 3044
The bears have forced out the bull support to 2984. Entries still valid though
  • #508,491
  • Jan 14, 2020 6:36am Jan 14, 2020 6:36am
Quoting akim0895
{quote} GL buddy
Thanks but it's not as if the bears are down and out. The bigger trend is still bearish. And if PA closes below 2981 I am out
  • #508,492
  • Jan 14, 2020 6:41am Jan 14, 2020 6:41am
GBPUSD Update -
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  • #508,493
  • Jan 14, 2020 6:42am Jan 14, 2020 6:42am
Quoting gespiri
{quote} I think that your profit targets might be a little too much. Have you ever considered taking 20-30 pips per trade and then wait/re-strategize for the next trade (instead of reacting)? For example, the critical point for today was 1.3012 IMO, but the end TP will be around 1.29. By looking at the DAILY and 4HR chart, it is clear that this is still heading down to that level before correcting up.
Hi gespiri, I think we’ll end the day well above 1.3012, this leg up is A of an ABC zigzag correction, which in my opinion will end at around 1.3078/80

Guz
Charts don't drive price, market conditions drive price...
  • #508,494
  • Jan 14, 2020 6:42am Jan 14, 2020 6:42am
Strong resistance at 1.3000 - BIG round number and daily PP so not gonna be breached easily!

Looking for 1.2950 and below later - we'll see
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  • #508,495
  • Jan 14, 2020 6:46am Jan 14, 2020 6:46am
sorry bulls.

SELL 2983
in wondering about yourself, you forgot what you came here to be part of
  • #508,496
  • Jan 14, 2020 6:46am Jan 14, 2020 6:46am
Quoting Guztro
{quote} Hi gespiri, I think we’ll end the day well above 1.3012, this leg up is A of an ABC zigzag correction, which in my opinion will end at around 1.3078/80 Guz
Hey Guz, we'll see. I have my levels pegged between 1.288 - 1.29.
Maybe from there this will go up to 1.3012 or 1.305.....but the daily is telling me otherwise.
Lost....
  • #508,497
  • Jan 14, 2020 6:46am Jan 14, 2020 6:46am
Quoting Bydyke
It's like we've got our bull support on M5 at 2987. Long 2993, SL 2965, TP1 3024, TP2 3044
Out at 2981. The bears have retaken the M5 average
  • #508,498
  • Jan 14, 2020 6:48am Jan 14, 2020 6:48am
If you decide to trade at the core of price action on M1, its never quiet.

Selling here is a good plan but it has to be at a Target which has an large liquidity pool. Price just reversed on a nice pool from yesterday.
My target at present would be the Vacuum zone at 1.2954

Trends/resistance rubbish is not needed in today's market - just Targets
Attached Image (click to enlarge)
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Trading thin liquidity at the boundary of the charts
  • #508,499
  • Jan 14, 2020 6:52am Jan 14, 2020 6:52am
This is what I'm looking at the daily.
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Lost....
  • #508,500
  • Jan 14, 2020 6:56am Jan 14, 2020 6:56am
Quoting Bydyke
{quote} Out at 2981. The bears have retaken the M5 average
The maxim says don't retaliate on the market but the bears are now on the saddle. Short 2980, SL 3015
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