Cable Update (GBPUSD)

bye guys.

Closed both positions for a profit. Till next week.

Waiting for last to set my pending orders at the high and low of it.
Look like an indiction candle

Hi Navk,

What If you do your normal scalps as usual with your usual daily targets. Do one extra scalp with your trade locked in quickly. Just forget about it like it never existed. You won't even see it on your chart anymore. When you scroll down you will say hey ho I still have that trade locked in profit, Crumbs I even have a bit of spare leverage to play with. No need for patience, your confidence grows, and your trade decisions become more timed

Just think about it.

Have a great weekend
Cheers

I saw opportunities to take some pips but didn’t take. But I don’t feel bad.


have a nice weekend.

locking a buy position in profit.

Means, you open a sell position of equal lot size tto lock it?

Like this all your trades , both long and short will never get closed ?

before closing long.... trying a 10 pip long at 1.26300...

yes I would ,I thought it would break and then come back up ,as posted Thursday I don't think the weekly can be changed this week.

The weekly is inverted ,confirmation with a lower wick, gap down then continuation up.
Therefore logic says it can't be a reversal in a continuation situ, it would close 'as is' or better is my reading Thursday.

Next week could favour the bears
I prefer the line to believe bear given the monthly right now which is in striking distance based on those last 2 weekly real body.

So... like the failed D1 before Thursday 2nd July this D1 today can confirm false, then go further up ,or we need more data this space to go down, since D1 was ideal location but weak looking.
Failed D1 previous was also up against bullish W1

I think he mean put one more extra order and when it turn profit and set BE + few pips and let it long run , dont rush to close it.
and he is trade all kind of trade, scalp , medium-long term.

No, you do not understand. By locking in your profit means to move your trail stop to breakeven and a couple of pips above so that if your trail stop gets taken out you still come out with a couple of pips in profit. If your trail does not get taken out leave it and forget about it.

By opening a trade in the opposite direction you have effectively closed your trade. That is also locking in your profits as you say. It means nada. You still set your breakeven and a couple of pips profit and of course your usual stop loss. Either way one of them will be a winner.

Cheers

I am expecting a nasdaq index config, so if this month maybe we see a collapse again in the indexes the dollar will go up. and some other pairs are going to be a mess. but the interest rates of several banks have made these pairs very slow ... there is a possibility that the dollar will fall together, I am also waiting to observe.

I believe that the dollar will rise at some point maybe and then fall ... I keep waiting, when the opportunity arises I will take the Gu to buy or sell anywhere.

you know me , don't belive in sl .
so i started to use the indicator bb stop .
what means that the indicator tell me when to enter , and where to put the sl , and still i didn't put it , and
that is that is the different between profit of 100 pips , and a lose 40 .
shame on me

discover what work best for you and give you clear brain without confusion. maybe with or without indicator ..I dont use indicator because they dont work for me so i do everything manually and i am good to go.

but my opinion the clear and simple chart give better reading of chart with good money management.

Peace weekend.

Im not sure what my friend Hussin sees ,
I only know he carries much knowledge beyond my own.
But on the monthly I see a bullish set up .Over the last month then uptrend would continue imo.
I use the weekly as the major day trade guide, you do not have to trade it.

Anyone trading at a reasonable personal risk level right now, taking Thur D1, would be wondering if it's worth seeing which way Monday goes.

1.2620... If it breaks... good chance for 1.2593.

An example of a No plan trade.

W/E analysis

I'm going to do this now as near to market close and a lo risk of any significant change in price that might render the analysis invalid on the t/f's discussed below.

Fundamentally it's all very risk on/off appetite which can be very changeable in these unusual times re covid, brexit, and economic recovery efforts.

Price has covered a likely 76% of the 13 week awr this week, and so far this mth 58% of the 12 month amr.

Monthly:
Not a lot to say because a candle is not a candle until it is closed so a lot can happen to what presently looks like a bullish candle. Last few fractal swings on this t/f have been a 2nd LL, H, 3rd LL,HL and this present candle may confirm that HL with a bullish follow thru possibly to a H or conversely to a L neither of which will be a fractal swing yet on close of July's monthly candle. So no real fractal trend going on this t/f. Re 100/50/20 ema's - they all remain crossed down.

Weekly:
This weekly candle is almost certainly going to close bullish and will create a fractal 2nd HL at that 2251 level after the pullback from the 2813 hi...so signs of bullishness but no HH yet. This said re ema's 100/50/20 all remain crossed down. The zone leading up to 2813 hi and the zone leading down to 2251 lo are the nearest potential res/supp respectively on this t/f save for a weekly daily/desc t/line just above the likely weekly hi which will be discussed more on the Daily analysis below. There is also one above that which on next week's weekly candle will come thru circa 2725-35. Although it didn't in the move down from 2813-2251 those prev sw hi's x 2 down to 2500 could act as potential supp in a retest?

Daily:
The daily candle is very likely to close as a spinning top with bullish body but no fractal swing is created by it. We have seen a currently non fractal H above the last 2 x LH's on this t/f in the move up from 2251 to likely 2669 weekly hi. Like the weekly no HH yet but a HL then a H so far in the move up - so recent signs of strength on this t/f although no fractal trend as such exists presently. Re ema's 20 is above both the 100 and 50 and the 50 is pointing up and converged on the 100 for a possible cross up. The steepest daily/weekly desc tline referred to above will come through on monday's daily candle circa 2680 so still in that prev sw hi zone leading up to the major daily/4hr prev sw hi @ 2687 and of course there remains the matter of the formerly breeched asc t/line on this t/f which has twice acted as resistance in a retest from the underside.

4Hr:
This t/f remains in a general uptrend after the pullback from the likely 2669 weekly hi to 2566 that saw resistance again on the recovery @ the 4hr desc t/line that joins 2813 with 2669. The nearest potential res/supp zones on this t/f remain toward that 2669 hi and the prev sw hi zone = prev res that has once acted as support at that 2566 level which joins the new asc t/line on that t/f. Re ema's the 20/50/100 all remain crossed up on this t/f (like 15min, 30min, 1hr too.)

NB: I have fibs drawn to that 2669 hi from 2251,2259,2437,2461 and 2508.

My projection for next week. Should see this happen early in the week. Once pattern completed I will decide if its sell time or continuation

that is my plan for next week dude.