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Cable Update (GBPUSD)

  • #522,161
  • May 21, 2020 3:10pm May 21, 2020 3:10pm
ooops

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yes yes yes
  • #522,162
  • May 21, 2020 3:13pm May 21, 2020 3:13pm
Quoting KeenPips
Correct to follow the coattails of smart money; but you need to do your home work. KP {quote}
Everybody must do their homework. I am doing mine. I hope you are doing yours. By the way my shorts in profit!
  • #522,163
  • May 21, 2020 3:14pm May 21, 2020 3:14pm
Quoting Moty
ooops {image}
from long to short
  • #522,164
  • May 21, 2020 3:15pm May 21, 2020 3:15pm
Inserted Video
  • #522,165
  • May 21, 2020 3:16pm May 21, 2020 3:16pm
Quoting Fadhl
Updating views on GU: Wave 4 is confirmed and GU has started wave 5 which it will fold in 5 mini waves. We got already 2 minis. Next move is down to 1.211x, then up to 1.216x and down to 1.180x. {image}
I agree with you. My shorts are already loaded.
  • #522,166
  • May 21, 2020 3:16pm May 21, 2020 3:16pm
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short on 4 hour close I think Looks like shorts . 2216 long 6 pip stop . Mad going against 4 hour doji . So need a mind set to change tac
  • #522,167
  • May 21, 2020 3:20pm May 21, 2020 3:20pm
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  • #522,168
  • May 21, 2020 3:36pm May 21, 2020 3:36pm
Out of interest, is everyone shorting cable in here?? any buyers?? if so lay it on the table.

I am keeping an eye on this 1.22 level. It could hold.
Keep it simple stupid
  • #522,169
  • May 21, 2020 3:40pm May 21, 2020 3:40pm
I have a feeling tomorrow will be a fun ride. Either a big dump or a big pump. Better wait for either London fix or before market close to decide on a next trade. I was going for the big dump...but seing the current H1 setup and the bearish sentiment, a big pump is more likely.
Everyone can see the chart, but only a few can actually read it.
  • #522,170
  • May 21, 2020 3:47pm May 21, 2020 3:47pm
That statement is a general statement to any trader; the 'your home work' does not refer to any particular trader but to any trader in general. Congrats on your profits! Keep rolling in the buck lol.

KP

Quoting Mitiblotch
{quote} Everybody must do their homework. I am doing mine. I hope you are doing yours. By the way my shorts in profit!
Do your homework, follow the footprints of smart money
  • #522,171
  • May 21, 2020 3:47pm May 21, 2020 3:47pm
Looking at GU, EU, UC, UJ and NU.. I feel like all of them are screaming to short the dollar someone change my mind.
Keep it simple stupid
  • #522,172
  • May 21, 2020 3:52pm May 21, 2020 3:52pm
Craven64, Im holding buys at session lows, I thought the positive data earlier changed the sentiment. I thought we had some accumulation and a bit of resilience when the USD tide changed. Ill see what happen in asia plan is to maybe switch to eur/gbp
  • #522,173
  • May 21, 2020 3:55pm May 21, 2020 3:55pm
Quoting Craven64
Out of interest, is everyone shorting cable in here?? any buyers?? if so lay it on the table. I am keeping an eye on this 1.22 level. It could hold.
If you read the post above you might get a clue lol regards
  • #522,174
  • May 21, 2020 3:57pm May 21, 2020 3:57pm
Quoting Mitiblotch
{quote} Used to matter in those days in currencies. Now, useless. Price can paint all the good candlestick patterns plus even volume and before you blinking goes very opposite. Especially this unstable pair.
Yeah i don't know how manipulated it was back then, but now with so many retail traders banks just line up everyone's liquidity and run them out... it's trench warfare for sure...
  • #522,175
  • May 21, 2020 4:01pm May 21, 2020 4:01pm
Quoting Craven64
Out of interest, is everyone shorting cable in here?? any buyers?? if so lay it on the table. I am keeping an eye on this 1.22 level. It could hold.
Hi Craven,
To be honest. This is me laying it on the table. A few hints for me. Daily lower low and lower high plus my daily pivot converging coupled with a future lower daily pivot currently sitting at 1.22186 ish. Am I confident at this point? No. It can go either way, however, I have to scale it down to my best chance which is that a swing reversal could be in the making. I have entered shorts but will have my finger on the button should it change direction. It is iffy at the moment and we will have to see what the market has install for us tomorrow.

All the best,
Cheers.
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Trade to trade another day
  • #522,176
  • May 21, 2020 4:06pm May 21, 2020 4:06pm
A good close on the H4.
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  • #522,177
  • May 21, 2020 4:10pm May 21, 2020 4:10pm
Quoting Wavegarrick
{quote} Hi Craven, To be honest. This is me laying it on the table. A few hints for me. Daily lower low and lower high plus my daily pivot converging coupled with a future lower daily pivot currently sitting at 1.22186 ish. Am I confident at this point? No. It can go either way, however, I have to scale it down to my best chance which is that a swing reversal could be in the making. I have entered shorts but will have my finger on the button should it change direction. It is iffy at the moment and we will have to see what the market has install...
Yeah fair play. Looks like you are managing it well anyway with the current longs still in play and protected. It really can go anywhere can only trade what you see!
Keep it simple stupid
  • #522,178
  • May 21, 2020 4:14pm May 21, 2020 4:14pm
Quoting Coreg2004
{quote} ...or sell in May and go away...
Joke. For now, we have a narrowing triangle on which one could earn
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  • #522,179
  • May 21, 2020 4:28pm May 21, 2020 4:28pm
how does everyone trade cable? Swing trade? long term? day trade? with the atr being around 350 or so a week I can imagine it would be a decent swing play but all the whipsaw could be frustrating. Me i can't hold multiple days, in and out ..just sets up easier that way. I know right away if i'm right or wrong.
  • #522,180
  • May 21, 2020 4:34pm May 21, 2020 4:34pm
Quoting GGekkoGreed
how does everyone trade cable? Swing trade? long term? day trade? with the atr being around 350 or so a week I can imagine it would be a decent swing play but all the whipsaw could be frustrating. Me i can't hold multiple days, in and out ..just sets up easier that way. I know right away if i'm right or wrong.

I trade the 1 minute time frame.
Look ahead, Macro=Direction, Levels & Structure = Entry
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