Cable Update (GBPUSD) | Page 26525 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #530,481
  • Jun 23, 2020 2:04pm Jun 23, 2020 2:04pm
Very much true mate. Trading candlestick patterns themselves without context can be dangerous.

Stay safe, trade safe.

KP

Quoting Bydyke
{quote} In the past, you can trade engulfers on GU with your eyes closed. Not anymore. Irrespective of the TF, you must pay very close attention to all engulfers. Addendum: You see what I mean? 17 minutes to the close of the hour and the last hourly bearish engulfer is now in danger of being negated.
Do your homework, follow the footprints of smart money
  • #530,482
  • Jun 23, 2020 2:10pm Jun 23, 2020 2:10pm
Quoting knkie
{quote} not sure you want to talk about it but can you describe why you went short?
Honestly its just been a very silly day of not sticking to any of my rules and now I'm stuck in a floating loss hoping for the best. We have R1 and the uptrend line dating back from 19th Mar, 17 May etc. I was hoping the retrace of the dollar index would bring it down but that didn't seem to happen and now that will most likely drop as it's come back to 50 EMA and near S1 causing further upside on the pound. Out for -40 pips, could have been a lot worse I guess. Should have entered longs each time it went to pivot but I didn't... Will come back tomorrow with a clear head.
  • #530,483
  • Jun 23, 2020 2:15pm Jun 23, 2020 2:15pm
will be adding on my short position when the day ends.. GU is still down for the rest of the month.
Le$$ I$ More
  • #530,484
  • Jun 23, 2020 2:18pm Jun 23, 2020 2:18pm
Hi Guys,
Sad to say but I find it hard to believe that most traders are not seeing this,
Usdx 1 month down
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_590.png Size: 56 KB

Usdx 1 week down, However, my 200 Ma at 96.414 an area to contend with a weekly close below and more certainly could be a new yearly range of trading, We are close to a new yearly range in trading and much will depend on how strongly the monthly candle closes.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_591.png Size: 48 KB

I will be very cautious in calling GU bear moves like I see here every day.
This is where accounts are broken. I have been through this before.

All the best.
Cheers
Trade to trade another day
  • #530,485
  • Jun 23, 2020 2:21pm Jun 23, 2020 2:21pm
Quoting Scotteyy
{quote} Honestly its just been a very silly day of not sticking to any of my rules and now I'm stuck in a floating loss hoping for the best. We have R1 and the uptrend line dating back from 19th Mar, 17 May etc. I was hoping the retrace of the dollar index would bring it down but that didn't seem to happen and now that will most likely drop as it's come back to 50 EMA and near S1 causing further upside on the pound. Out for -40 pips, could have been a lot worse I guess. Should have entered longs each time it went to pivot but I didn't... Will come...
the good thing is that you are willing to look back at what you did and learn from it.

i notice you use the word "hope" alot....
hope is not a strategy. Be Sure

The price action confusion is due to H4.
If you look at price without indicators you can see it made a LL-HH formation.
This signals Ranging behaviour.
Whenever this happens you will see Conflicting Long and Short calls on the thread.

Its best to stay out until price chooses a side and there is clear momentum.

just my 2 cents.
take it with as many grains of salt as you wish
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 17 KB
in wondering about yourself, you forgot what you came here to be part of
  • #530,486
  • Jun 23, 2020 2:28pm Jun 23, 2020 2:28pm
Quoting knkie
{quote} the good thing is that you are willing to look back at what you did and learn from it. i notice you use the word "hope" alot.... hope is not a strategy. Be Sure The price action confusion is due to H4. If you look at price without indicators you can see it made a LL-HH formation. This signals Ranging behaviour. Whenever this happens you will see Conflicting Long and Short calls on the thread. Its best to stay out until price chooses a side and there is clear momentum. just my 2 cents. take it with as many grains of salt as you wish...
If I had stuck to my strategy today I'd have been +150 pips but all the bears in the thread got me thinking otherwise, very silly on my part at the end of the day people are trading on different timeframes and I shouldn't let their trades influence mine. Yeh today I was hoping for a lot due to not sticking to my strategy. I appreciate all the advice I can get, I'm only 4 months into the game after all.
  • #530,487
  • Jun 23, 2020 2:29pm Jun 23, 2020 2:29pm
Quoting Roszey
will be adding on my short position when the day ends.. GU is still down for the rest of the month.
A daily and certainly weekly close below 1.25 would be a good short confirmation signal
Compulsions can be hard to resist
  • #530,488
  • Jun 23, 2020 2:35pm Jun 23, 2020 2:35pm
Quoting Scotteyy
{quote} If I had stuck to my strategy today I'd have been +150 pips but all the bears in the thread got me thinking otherwise, very silly on my part at the end of the day people are trading on different timeframes and I shouldn't let their trades influence mine. Yeh today I was hoping for a lot due to not sticking to my strategy. I appreciate all the advice I can get, I'm only 4 months into the game after all.
Never let the thread influence your trading.
To be honest: i trade better when im not on the thread.
It can make you unsure and doubt yourself.

There is alot to learn on FF, but dont let it influence active trades.
in wondering about yourself, you forgot what you came here to be part of
  • #530,489
  • Jun 23, 2020 2:38pm Jun 23, 2020 2:38pm
Quoting knkie
{quote} Never let the thread influence your trading. To be honest: i trade better when im not on the thread. It can make you unsure and doubt yourself. There is alot to learn on FF, but dont let it influence active trades.
Yeh I've learnt that the hard way today May take a break from the thread during the day and see if it has any effect.
  • #530,490
  • Jun 23, 2020 2:41pm Jun 23, 2020 2:41pm
Quoting Scotteyy
{quote} If I had stuck to my strategy today I'd have been +150 pips but all the bears in the thread got me thinking otherwise, very silly on my part at the end of the day people are trading on different timeframes and I shouldn't let their trades influence mine. Yeh today I was hoping for a lot due to not sticking to my strategy. I appreciate all the advice I can get, I'm only 4 months into the game after all.
as you said, we all have different strategies, trading different timeframes. Pick one that works best for you and perfect the execution of that strategy. Use proper money management. And don't trade when your mind is exhausted.
  • #530,491
  • Jun 23, 2020 2:43pm Jun 23, 2020 2:43pm
Closed my shorts from 1.2680 and some others .

Will look to buy somewhere tomorrow.
Dream, believe,fight for it and you will achieve and NEVER EVER GIVE UP!
  • #530,492
  • Jun 23, 2020 4:17pm Jun 23, 2020 4:17pm
Quoting Scotteyy
{quote} Yeh I've learnt that the hard way today May take a break from the thread during the day and see if it has any effect.

90% of the thread is duuuuum and same applies for news, crypto , gold, etc

Duuuum

So yes, take a break and enjoy freedom and average intelligence out there. Street workers I see are smarter than dudes here
Beware of robber banks (RB), bad advisors.
  • #530,493
  • Jun 23, 2020 4:39pm Jun 23, 2020 4:39pm
GU bearish divergence on h1 spotted..

DXY h1 bullish divergence as well

be careful with your longs
PATIENCE AND DISCIPLINE!
  • #530,494
  • Jun 23, 2020 4:41pm Jun 23, 2020 4:41pm
Quoting Scotteyy
{quote} If I had stuck to my strategy today I'd have been +150 pips but all the bears in the thread got me thinking otherwise, very silly on my part at the end of the day people are trading on different timeframes and I shouldn't let their trades influence mine. Yeh today I was hoping for a lot due to not sticking to my strategy. I appreciate all the advice I can get, I'm only 4 months into the game after all.
Hi been of and on the thread today and read posts .. please can I say you must be new to Fx because of what you have just wrote . I know from my posts people not traders read and trade other opinions. If you were or become a trader who wants to make money you must of read all the rules . 1... trade with a plan where and why to get into a trade . This could be a trade that is only 10 pips .. 10 pips with 10 lots plus is a lot of money. 2. Never trade another’s trade unless you agree .. see number 1.. stops don’t wait and wait , if you see it losing pull out . There is always another trade .. people post a number of opinions daily if not every hour .. I do .. but I also trade and don’t post because I have changed my mind and flipped the trade .. so take care . Regards to all who read this E
  • #530,495
  • Jun 23, 2020 4:42pm Jun 23, 2020 4:42pm
Quoting knkie
{quote} the good thing is that you are willing to look back at what you did and learn from it. i notice you use the word "hope" alot.... hope is not a strategy. Be Sure The price action confusion is due to H4. If you look at price without indicators you can see it made a LL-HH formation. This signals Ranging behaviour. Whenever this happens you will see Conflicting Long and Short calls on the thread. Its best to stay out until price chooses a side and there is clear momentum. just my 2 cents. take it with as many grains of salt as you wish...
Good post for newbies
  • #530,496
  • Jun 23, 2020 4:45pm Jun 23, 2020 4:45pm
Attached Image (click to enlarge)
Click to Enlarge Name: 1963001C-1DFB-4CEF-B3AF-526D0AD8E8D1.png Size: 356 KB
Quoting trumps
A clear closed break above 2550 would be bullish IMO But I think will get a bearish reaction {image}
Nice clean chart I hope you and I both think that it’s confirmed breakout to the high side shoul take the price short . But it’s cable and it’s sneereerkie . Regards E
  • #530,497
  • Jun 23, 2020 4:47pm Jun 23, 2020 4:47pm
Quoting Not-KPMG
{quote} 90% of the thread is duuuuum and same applies for news, crypto , gold, etc Duuuum So yes, take a break and enjoy freedom and average intelligence out there. Street workers I see are smarter than dudes here
Only one post son of HDA lol I was looking forward to reading more .regards B
  • #530,498
  • Jun 23, 2020 4:51pm Jun 23, 2020 4:51pm
Quoting elbert3
{quote} Hi been of and on the thread today and read posts .. please can I say you must be new to Fx because of what you have just wrote . I know from my posts people not traders read and trade other opinions. If you were or become a trader who wants to make money you must of read all the rules . 1... trade with a plan where and why to get into a trade . This could be a trade that is only 10 pips .. 10 pips with 10 lots plus is a lot of money. 2. Never trade another’s trade unless you agree .. see number 1.. stops don’t wait and wait , if you see...
As I said previously I am new, been trading 4 months. I'm completely aware that I have a lot to learn and however I also know I have a plan that works from back-testing its just the psychological aspect of trading (listening to others being a part of this) which fails me however I'm sure I'll eventually get that under control. Honestly I think I'd be better waiting for my entry setting SL and TP then just walking away for an hour or so. Do appreciate the advice though, always happy to receive some knowledge from people with the know-how.
  • #530,499
  • Jun 23, 2020 4:52pm Jun 23, 2020 4:52pm
Quoting Scotteyy
{quote} If I had stuck to my strategy today I'd have been +150 pips but all the bears in the thread got me thinking otherwise, very silly on my part at the end of the day people are trading on different timeframes and I shouldn't let their trades influence mine. Yeh today I was hoping for a lot due to not sticking to my strategy. I appreciate all the advice I can get, I'm only 4 months into the game after all.
all newcomer have been there Scotty, I have been, close to short because I see a wave of bull posts, then it fucks you over mentally when your right, as we all trading different durations, styles, tf's. I stay I the forum to just socialise, ive been able to read people posts and bias's without it flicking a switch on my position , just comes with time and trust in your work.

don't be a fomo trader

trade safe

see you all at premarket

Joe
  • #530,500
  • Jun 23, 2020 4:54pm Jun 23, 2020 4:54pm
Quoting elbert3
{quote} Hi been of and on the thread today and read posts .. please can I say you must be new to Fx because of what you have just wrote . I know from my posts people not traders read and trade other opinions. If you were or become a trader who wants to make money you must of read all the rules . 1... trade with a plan where and why to get into a trade . This could be a trade that is only 10 pips .. 10 pips with 10 lots plus is a lot of money. 2. Never trade another’s trade unless you agree .. see number 1.. stops don’t wait and wait , if you see...
good words E

always respected your work, great stuff

keep killing it


Joe
1,806 traders viewing now