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Cable Update (GBPUSD)

  • #510,621
  • Feb 3, 2020 7:53pm Feb 3, 2020 7:53pm
Quoting dmj120
{quote} I hear ya!!! I am still working through this, which is something I think to be a huge milestone.
Same man, had that happen a few weeks ago. Scalping and just slowly building confidence back. GU i trade a lot smaller, and yeah... make guidelines to avoid the hit you took. Find the root cause, adjust your style to help prevent it...and just lose a little less next time... Just grind it out till she's smooth
  • #510,622
  • Feb 3, 2020 8:11pm Feb 3, 2020 8:11pm
Quoting Ra.
{quote} Same man, had that happen a few weeks ago. Scalping and just slowly building confidence back. GU i trade a lot smaller, and yeah... make guidelines to avoid the hit you took. Find the root cause, adjust your style to help prevent it...and just lose a little less next time... Just grind it out till she's smooth
yeah, a combination of not proper putting stops/cutting loosers,adding to loosers and overleverage without plan, all classic textbook newbie issues... long term goal to put small initial lot, then adding to winners but need better skills..

Today feels tricky trade, we have now passed below daily support. Awaiting FF and London open for directions but could be further selloff today, towards weekly resistance levels.
  • #510,623
  • Feb 3, 2020 9:38pm Feb 3, 2020 9:38pm
Attachment G

Saw the 4hr chart respecting the weekly support.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: IMG_1204.PNG Size: 166 KB
Just chasing time
  • #510,624
  • Feb 3, 2020 10:02pm Feb 3, 2020 10:02pm
1.2980 holds again!

ready for an upward push or do you think itll come down again?
  • #510,625
  • Feb 3, 2020 10:20pm Feb 3, 2020 10:20pm
Quoting HumzahJ
1.2980 holds again! ready for an upward push or do you think itll come down again?
up/down cant predict.

however this push at 3:30 london time was most likely to Aussi rate news (the keept the rate flat at 0.75), so this push up to 3000level again was triggered due to this I believe.
  • #510,626
  • Feb 3, 2020 10:38pm Feb 3, 2020 10:38pm
we have a strong daily support around the area 1.295x

I will never be surprise if we have another strong bounce and go up again 200pips and more

I am still long and targeting 1.33x ~ 1.34x area to open my big shorts
Attached Image (click to enlarge)
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  • #510,627
  • Feb 3, 2020 10:47pm Feb 3, 2020 10:47pm
Quoting krst8
{quote} yeah, a combination of not proper putting stops/cutting loosers,adding to loosers and overleverage without plan, all classic textbook newbie issues... long term goal to put small initial lot, then adding to winners but need better skills.. Today feels tricky trade, we have now passed below daily support. Awaiting FF and London open for directions but could be further selloff today, towards weekly resistance levels.
there can be a drop in London, Frankfurt.

But I have solid support 2980. should bounce here..... however if 2980 gives up... then 2900.

I doubt if 2980 breaks today
Intraday only.
  • #510,628
  • Feb 3, 2020 10:52pm Feb 3, 2020 10:52pm
Quoting navk
{quote} there can be a drop in London, Frankfurt. But I have solid support 2980. should bounce here..... however if 2980 gives up... then 2900. I doubt if 2980 breaks today

yes, i agree, think we will revisit 1.3 again and below in the morning . Had a limit buy at 2983, but had it inly open until end of day so missed a good scalp long entry while sleeping:-)

. I tried 3 times to play a short at these levels in January... all failed. Thinking of putting a pending sale this time below, at about 2965, but feel still in danger of stop hunt..?!?
  • #510,629
  • Feb 3, 2020 11:26pm Feb 3, 2020 11:26pm
Just follow the price direction....
Running 14 lots on GU
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_2020-02-04-12-24-56-896_net.metaquotes.metatrader4.png Size: 177 KB
  • #510,630
  • Feb 3, 2020 11:30pm Feb 3, 2020 11:30pm
Quoting zoolc
Just follow the price direction.... Running 14 lots on GU {image}

edit: just saw your trading journal... thanks

always impressed by those, zoolc, whom can do this kind of trading. How do you manage the stops if i may ask? You keep an average stop that you move or push a total stop all way up as you buy in?
  • #510,631
  • Feb 3, 2020 11:33pm Feb 3, 2020 11:33pm
Quoting zoolc
Just follow the price direction.... Running 14 lots on GU {image}
yes trend is my friend
  • #510,632
  • Feb 3, 2020 11:38pm Feb 3, 2020 11:38pm
so one last limit 2977 hold in play with a d bottom action correction spike up likely before the next rejection / failure strong.
Attached Image(s) (click to enlarge)
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #510,633
  • Feb 3, 2020 11:56pm Feb 3, 2020 11:56pm
Quoting OnlineAddict
{quote} Tomorrow might be... 3080...maybe more.
Dunno, it's got DPP & WS1 to chew through before getting up there. We'll soon see I guess. I have an order at 3060.
Focus.
  • #510,634
  • Feb 4, 2020 12:22am Feb 4, 2020 12:22am
Quoting krst8
{quote} edit: just saw your trading journal... thanks always impressed by those, zoolc, whom can do this kind of trading. How do you manage the stops if i may ask? You keep an average stop that you move or push a total stop all way up as you buy in?
i use 2 kind of EA
1. Close At Profit for manage stop loss and target profit in money
2. Close All v1.1 for emergency close
Attached Image(s) (click to enlarge)
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  • #510,635
  • Feb 4, 2020 12:38am Feb 4, 2020 12:38am
If AUD get some moment after Rate news this night and gu keep falling we are upp for a crazy short again at AUD GBP...
  • #510,636
  • Feb 4, 2020 12:42am Feb 4, 2020 12:42am
Yesterday I went in without listening to the market and paid dearly, today I will wait and listen and even wait for the price to rise above the area of daily pivot and weekly s1 to enter, there is enough profit there to gain for the daily R1, 70 pips
Attached Image(s) (click to enlarge)
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yes yes yes
  • #510,637
  • Feb 4, 2020 1:13am Feb 4, 2020 1:13am
wear your mask folks..
bears virus outbreak
just for a cup of coffee...
  • #510,638
  • Feb 4, 2020 1:19am Feb 4, 2020 1:19am
Quoting akim0895
wear your mask folks.. bears virus outbreak
2925 IS WHAT...
Intraday only.
  • #510,639
  • Feb 4, 2020 1:20am Feb 4, 2020 1:20am
Hi guys!

The pair might develop a rectangle based on today's high and low.

3-7 February 2020
Risk Management is of utmost importance!
  • #510,640
  • Feb 4, 2020 1:33am Feb 4, 2020 1:33am
Quoting navk
{quote} 2925 IS WHAT...
waiting for that level too..
but how about 2890..
just for a cup of coffee...
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