Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

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#535,481
Jul 14, 2020 5:54pm Jul 14, 2020 5:54pm

iqyu5an
Joined Jul 2010 | Status: Always manage your risk & leverage | 7,339 Posts

Quoting epzero

Disliked

something isn't right about this pair, we were all preparing for the downward movement and all of a sudden market starts to fly up with speed

Ignored

Up and down is normal in market ...

not euphoria follower

#535,482
Jul 14, 2020 5:56pm Jul 14, 2020 5:56pm

WizardTrade
Joined Apr 2020 | Status: Risk -> Coffee -> Profit -> Repeat | 1,380 Posts

Wait and watch at weekly pivot and daily R1

WARNING: This post warps space and time in its vicinity.

#535,483
Jul 14, 2020 6:12pm Jul 14, 2020 6:12pm

Fredo219
| Joined Aug 2019 | Status: Trader | 422 Posts

Quoting epzero

Disliked

something isn't right about this pair, we were all preparing for the downward movement and all of a sudden market starts to fly up with speed

Ignored

Don't let it play on your psychology.
Still a downtrend.

Patience.....

#535,484
Jul 14, 2020 7:11pm Jul 14, 2020 7:11pm

epzero
Joined Oct 2019 | Status: Trader | 1,132 Posts

Quoting Fredo219

Disliked

{quote} Don't let it play on your psychology. Still a downtrend.

Ignored

market is almost at the high before morning , these people are truly evil

#535,485
Jul 14, 2020 7:14pm Jul 14, 2020 7:14pm

Georginson
Joined Aug 2018 | Status: Research Analyst | 4,290 Posts

Quoting epzero

Disliked

{quote} market is almost at the high before morning , these people are truly evil

Ignored

It's already getting to you mate. Take a break of viewing the market to get some clear mind. Below 1.2669 stays bearish and will not go directly bearish, it's all in the plan.

Data + Stat + Risk/Emotions Management

#535,486
Jul 14, 2020 7:21pm Jul 14, 2020 7:21pm

shahab8b
Joined Jul 2009 | Status: The Alchemist | 8,917 Posts

Attached Image (click to enlarge)

Click to Enlarge

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#535,487
Jul 14, 2020 7:26pm Jul 14, 2020 7:26pm

ChiForex
Joined Jan 2019 | Status: Trader | 2,800 Posts

Quoting epzero

Disliked

{quote} market is almost at the high before morning , these people are truly evil

Ignored

Get out of your 5 minute chart, add some years experience and you'll not be surprised.

My technical analysis leading trades depend on Daily/Weekly/Monthly Chart

#535,488
Jul 14, 2020 7:38pm Jul 14, 2020 7:38pm

iqyu5an
Joined Jul 2010 | Status: Always manage your risk & leverage | 7,339 Posts

North : 49 % , South 49 % , Lucky 2 %

not euphoria follower

#535,489
Jul 14, 2020 7:39pm Jul 14, 2020 7:39pm

iqyu5an
Joined Jul 2010 | Status: Always manage your risk & leverage | 7,339 Posts

How long have u been in market ?

Quoting epzero

Disliked

{quote} market is almost at the high before morning , these people are truly evil

Ignored

not euphoria follower

#535,490
Jul 14, 2020 8:14pm Jul 14, 2020 8:14pm

ricmaj
Joined Jun 2011 | Status: Trader | 1,731 Posts

Quoting ricmaj

Disliked

waiting for 25350/25850 to play resistance for more downward pressure. Let see if pa will act same.

Ignored

Price seem to have found Resistance around 25850 were sustained the break of 25350 could send the market to a new low. Sell entry 25750 SL 20pips tp 100pips

Keep the Lights on then you can catch the rise from the dark.

#535,491
Jul 14, 2020 8:22pm Jul 14, 2020 8:22pm

epzero
Joined Oct 2019 | Status: Trader | 1,132 Posts

Quoting iqyu5an

Disliked

How long have u been in market ? {quote}

Ignored

long enough

#535,492
Jul 14, 2020 8:43pm Jul 14, 2020 8:43pm

knkie
Joined Apr 2012 | Status: Stunning | 6,815 Posts

Quoting epzero

Disliked

something isn't right about this pair, we were all preparing for the downward movement and all of a sudden market starts to fly up with speed

Ignored

thats not true.
i took a long late in the session because i could see buy momentum building.

Quoting knkie

Disliked

this may be a bigger move. 2557 long M15 chart {image}

Ignored

I just exited with 20 pips.

Also in a discussion about traders wanting to go short i said :

Quoting knkie

Disliked

{quote} unless price has flipped and the buying continues. keep an open mind

Ignored

SO its not really all of a sudden.
You just missed it due to your bias.
Nothing evil going on here. Some traders catch a move and others dont.
Cest la vie.
Next time you might be on the winning side, there will be lots more trades.
Just keep an open mind.

in wondering about yourself, you forgot what you came here to be part of

#535,493
Jul 14, 2020 9:19pm Jul 14, 2020 9:19pm

Georginson
Joined Aug 2018 | Status: Research Analyst | 4,290 Posts

Price cannot move in a particular direction without some form of reversal. Since last week high of 1.2669, price had attempted to break the high on 3 different occasions and couldn't break, hence price dropped to a low of 1.2479 which happened less than 35 hours after high of 1.2665 this week.

The weekly range as it stands is 186 pips which still has additional 25 - 80 more pips to break. The big question is which of the two levels (1.2665 or 1.2479) will break?

Today is Wednesday being mid week and usually has average range of 90 - 130 pips and price currently trades at 1.2582 level, which is positioned at mid range for this week.

Now since price has had 3 failed attempts at 1.2669 level and has pierced 1.2500 level yesterday, this up move is considered momentum gathering to break the previous low at 1.2479 to at least 1.2460 level this week. Only a break of 1.2669 will invalidate this bearish outlook.

Now you have a clue of which level will break. Patience, risk management and better anticipation of different scenarios will help control your emotions when trading.

Trade safe and always remember that trading is a marathon not a Sprint.

Georginson.

Data + Stat + Risk/Emotions Management