Cable Update (GBPUSD)

What does your money management looks like than reading the post above?

Really appreciate all your calls btw; realy like people making calls; good or bad I dont care. Nice mate!

Also curious what you stuff when youre making some move

You too, I can really appreciate looking into your hands; good job!

Breakup

Hi Despichtt

hope your well. I typically aim to make 2 to 4% and I walk away from my desk, sometimes I make more sometimes I’ll make less, I only trade GU morning session, my MM is typically 2 to 1. For intraday trades which I’m getting more into now I run a 40 PIP TP and a 20 SL , and my quick scalps it’s all just a manual in my head and I manually close and TP. For sure man when you become more precise and motivation trading is a lot easier as you feel more confident. I’ve noticed that especially. Nice work, I look forward to see your future results!

for this week I placed 25 trades and 2 hit Sl. All others hit TP or closed it partial profits. SS will be below to prove it.

let’s all have a good weekend and make some £££ next week.

take it easy

Joe

No more serious move today guys!! Im cheking the 15m move and its back and forth like hell fast! Have a nice weekend and be safe!! For the next week, i wish u a big bag green pips!!

nearly over we can stop looking then

Not quite market close but price movement is slow enough to do some some early w/e analysis at a lo risk of the remaining trading invalidating it if the session so far is anything to go by. Today looks as though it will stay in the hi-lo 49pip range (DP - Dly S1) that was established in the London morning with a slow/painful crawl back up off the lo since. There was an upside breech of the steepest 1hr desc t/line but more due to the fact that it is descending and the chart moves to the left than any 'decisive' pa. I'm glad I made some pips this Uk morning as the U.s bank hol effect kicked in through the rest of the day. Re ema's from 5min to 1hr the 20/50/100 are all currently crossed up.

Weekly:
This week will almost certainly see a bullish candle close and the probabilities for this were always high given the amr travelled in June at the lo of the week on Monday - the 29th June, and last week's inverted pinbar weekly candle. The last few fractal prints on the wkly since and starting with the 1411 lo have been LL, LH, H, LH, HL, LH, L, and H and we await the next fractal print on this t/f which will either be a HL or LL so a pretty mixed picture right now on this weekly t/f....no real trend to speak of using this measure. 50 sma remains under 100 sma on this t/f, with price trading below them both.

Daily:
On the daily t/f we still have the classic downtrend and since and starting with the 2813 hi the fractal prints have been HH, HL, LH, L, LH, LL, and with today's daily candle a very likely 3rd fractal LH. 50 sma remains under 100 sma on this t/f, with price trading above them both and 50sma converging on the 100 from below.

4Hr:
The 4hr is in an uptrend although not as 'classic' as daily with the last few fractal prints starting with Thursday's lo being HL, HH, L, LH, LL and the next fractal print will either be a HH or LH depending on whether we see a hi above today's current hi or not which barring some real volume will likely be revealed on Monday now ? So a likely re-affirmation of the uptrend with a HH or some more damage to it with a LH. 1 50 sma remains under 100 sma on this t/f, with price trading above them both.

For the sake of variety if nothing else the current 2hr chart is below.

i will close half at the close of the market and let half to run to the weekend to 1.25421

...well done for hanging in there. G/L with it.

W/E analysis cont...

No fractal prints caused by last candle close on 1hr, 2hr or 4hr on Friday @ market close and on daily although a fractal 3rd LH now the daily candle close was essentially bullish - opposing Thursday's bearish daily candle close. Price closed just into that prev 1hr/2hr/4hr sw hi zone created by friday's hi so could encounter some sellers there on opening ? 1Hr chart below shows the next immediate upside obstacles to Thursday's 2529 hi (the daily pivots shown haven't adjusted yet for monday so ignore them.) The 4hr desc t/line that joins 2813 to thursday's 2529 hi comes through on sunday's opening 4hr candle circa 2500-05. Thursday's weekly hi at 2529 fell between the 50% of 2813-2251 (2532) and the 61.8% of 2687-2251 (2520.) The desc t/line shown on 1hr chart below joins 2542 hi with thursday's 2529 hi.

I don't think that there is much in current PA on these t/f's for 'swing' traders on these longer t/f's to ascertain the next direction in price at the moment given the opposing LH in daily downtrend created at 2529 and the opposing 'fractally damaged' uptrends on 1hr/2hr/4hr.

What time frame(s) do you use

W/E analysis cont...

A quick look at 4hr chart below shows the desc trend line referred to in my last post above, and other near-term potential upside obstacles (per my analysis - others may be different) on this t/f. The remaining upside fibs belong to those plotted from 2813 and 2687 swing hi's down to that last week's lo of 2251.

The last few fractal prints starting with Thursday's lo have been a HL, HH, L, LH, LL and the next fractal print will either be a HH or LH depending on whether we see a hi above friday's hi or not. The t/f remains in a general uptrend but the next fractal print - whether it be that HH or LH could be pivotal in the future near-term price direction of this pairing.

15m mainly now ;0

I use good leverage.

I do not have big money as others, so I use leverage only to my advantage.

As I do daily trading, I know the daily range AND when to take a trade.

At times, it runs even 10 % floating loss before turning to my side.

However, this is not applicable to new traders.

Maximum 1 / 50 leverage can be used with 3 to 5 % floating loss. IMO.

And most importantly, when you feel, you made reasonable money ( say 2 to 4 % of your capital ) quit trading for that particular day. If you are day trader.

There are statements, take losses, but allow profits to run.

While the first statement is true, take losses, but also do not bother to book profit too. This is specially applicable if you are day trader.

On Thursday, I made 4.37 % and quit trading.

Friday I could make only 2.4 % due to tight range.

On friday, the floating loss at some point went up to 7 % at one time.

Other days in last week , all profitable days, but floating was limited to less than 10 %.

Monday, I expect price to hit 1.2500 before dropping 2440.

Let us see.