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Cable Update (GBPUSD)

  • #519,581
  • May 11, 2020 12:20am May 11, 2020 12:20am
Good morning guys

Be careful, 10year Gilts suggest another big big drop for cable may be starting these days

Protect your capital
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  • #519,582
  • May 11, 2020 12:23am May 11, 2020 12:23am
Buy

TP @ 1.24400
SL @ 1.23800
Patience and Discipline.
  • #519,583
  • May 11, 2020 12:33am May 11, 2020 12:33am
I'm not sure today. Going to practice my scalping with a penny a pip.
Gone to a better place
  • #519,584
  • May 11, 2020 12:33am May 11, 2020 12:33am
Quoting Agu
{quote} Hi Moty, We're you able to close some longs before retracement?? 2 candles on M15 chart closed below 50ma and 100ma!!!!
Now anything possible.
What count ia a break from the zone
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yes yes yes
  • #519,585
  • May 11, 2020 12:40am May 11, 2020 12:40am
Quoting Moty
{quote} Now anything possible. What count ia a break from the zone {image}
Stops could be run before eventually going strong long. That is a strong weekly pivot
A third test and bounce will prove bull strength
Discipline is key
  • #519,586
  • Edited 12:54am May 11, 2020 12:41am | Edited 12:54am
I am short
1.23800
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yes yes yes
  • #519,587
  • Edited 1:11am May 11, 2020 12:44am | Edited 1:11am
Some balancing going on from London open- plus the fact that it could not break Asian high always a good sign to get out/short
Fundamentally- have seen stories overnight in Wall Street Journal where the Fed are pouring cold water on the idea of neg interest rates - this is huge. Interest rate bias is critical in trading fx.
Plus some negative Brexit stories in the FT and elsewhere- not good
Dollar got strong buying from when the wall street story broke
Look ahead, Macro=Direction, Levels & Structure = Entry
  • #519,588
  • May 11, 2020 12:45am May 11, 2020 12:45am
going to sleep now for a while.

Happy ending asia longs and London short.

All closed.

Now i will see if any 4 hr support forms at 5 pm est candle.

or else ..........down more. 2352 and below.
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Intraday only.
  • #519,589
  • May 11, 2020 12:49am May 11, 2020 12:49am
The support stays at 1.2350, which remains unbroken paves way for a bounce to at least 1.2550 within 2 days. A break of 1.2350 is further bearish call to 1.2187. I still maintain my long position from 1.2350 for a target of 1.2550. stay safe and trade profitably.
Data + Stat + Risk/Emotions Management
  • #519,590
  • May 11, 2020 12:52am May 11, 2020 12:52am
Quoting Georginson
The support stays at 1.2350, which remains unbroken paves way for a bounce to at least 1.2550 within 2 days. A break of 1.2350 is further bearish call to 1.2187. I still maintain my long position from 1.2350 for a target of 1.2550. stay safe and trade profitably.
it may stop at 2350 today, then the daily close, we need to see.

IMO, tomorrow, the price may bounce from daily s1.

And today will be bearish close as I mentioned in many of my posts since sunday.
Intraday only.
  • #519,591
  • May 11, 2020 12:54am May 11, 2020 12:54am
Quoting ongtrumvn99
{quote} ADD LONG 1.2418
ADD LONG 1.2382
SCALP WIN
  • #519,592
  • May 11, 2020 12:54am May 11, 2020 12:54am
Quoting Moty
I am short 1.23800
Be careful with your short Moty, better to wait for a break of 1.2350 for bearish confirmation. I trust you know how to switch quickly and I must admit you have been doing really well.
Data + Stat + Risk/Emotions Management
  • #519,593
  • May 11, 2020 12:56am May 11, 2020 12:56am
I was eyeing 1.2484 to enter short but the price could not reach that place before coming down . There is still one downward wave before a big upward move . I have already taken short at 1.2386 and if the support trendline is clearly broken and well confirmed , I will add more shorts. i will give update as thing unfolds. I hope we all trade safely as we stay safe
Attached Image (click to enlarge)
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With patience and discipline,you move beyond the sky
  • #519,594
  • May 11, 2020 12:58am May 11, 2020 12:58am
Quoting navk
{quote} it may stop at 2350 today, then the daily close, we need to see. IMO, tomorrow, the price may bounce from daily s1. And today will be bearish close as I mentioned in many of my posts since sunday.
Fingers crossed, let's see how the tussle unfolds. Cheers!
Data + Stat + Risk/Emotions Management
  • #519,595
  • May 11, 2020 1:07am May 11, 2020 1:07am
Quoting navk
{quote} it may stop at 2350 today, then the daily close, we need to see. IMO, tomorrow, the price may bounce from daily s1. And today will be bearish close as I mentioned in many of my posts since sunday.
I have similar view with you , there is still high probability of one more wave down to complete a particular market structure according to my own strategy and after that , a big upward move . I will watch how the market moves downward with smaller lot size and hope to add more later upon good confirmation
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With patience and discipline,you move beyond the sky
  • #519,596
  • Edited 1:28am May 11, 2020 1:18am | Edited 1:28am
Stupid of me not to consider that it can go all the way down
I was spotted that 50 % zone and i sven took littlle short there , but fall in love with the 1.2400 bounce up that didn't hold.
This is a bearish pattern, the crooks shaking everyone
Tp 1.23553 and 1 23000
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yes yes yes
  • #519,597
  • May 11, 2020 1:22am May 11, 2020 1:22am
Quoting ongtrumvn99
{quote} ADD LONG 1.2382
CLOSED ALL 1.2370
SCALP WIN
  • #519,598
  • May 11, 2020 1:24am May 11, 2020 1:24am
SHORT 1.2362
SCALP WIN
  • #519,599
  • May 11, 2020 1:25am May 11, 2020 1:25am
Watch out for this trendline.....
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Lost....
  • #519,600
  • May 11, 2020 1:32am May 11, 2020 1:32am
What is going on here. I'll catch him to buy some at around 1.3075
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