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Cable Update (GBPUSD)

  • #546,621
  • Sep 7, 2020 3:58am Sep 7, 2020 3:58am
Quoting shahab8b
{quote} Thank you Wavegarrick. You're very kind. I don't use anything fancy, mostly S/R and TLs as you know. Thanks for detailed explanation of your approach. BTW, I think you've got a superior trading system there. It deserves its own thread.
Thanks, Shahab, nothing will ever beat your approach. With regards to my own system thread. I will see towards next year. Just need the time and energy for it.
Cheers
Leon.
Trade to trade another day
  • #546,622
  • Sep 7, 2020 4:00am Sep 7, 2020 4:00am
Quoting nessus94
{quote} Don't say we are going down, you'll be a troll if so you are going against "the best traders" of the forum
hahaha the market does what it wants so if all the pro traders are buyer , i wish them well, i would never blind myself and buy this market
  • #546,623
  • Sep 7, 2020 4:02am Sep 7, 2020 4:02am
for 40 pips
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yes yes yes
  • #546,624
  • Sep 7, 2020 4:02am Sep 7, 2020 4:02am
interesting xD

regards
  • #546,625
  • Sep 7, 2020 4:05am Sep 7, 2020 4:05am
Quoting Hammad12345
interesting xD regards
Probably going to 1.3250 before dropping to a new low around 1.3000.
Observation is the path to discovery.
  • #546,626
  • Sep 7, 2020 4:07am Sep 7, 2020 4:07am
Quoting Moty
for 40 pips {image}
Price has reached daily ma21 so it can bounce from here, but still i am not buying
  • #546,627
  • Sep 7, 2020 4:08am Sep 7, 2020 4:08am
3190 denied?
Emotional Control. Process, not outcome.
  • #546,628
  • Sep 7, 2020 4:10am Sep 7, 2020 4:10am
Quoting nessus94
{quote} Don't say we are going down, you'll be a troll if so you are going against "the best traders" of the forum
No one here says someone is a troll for picking a direction
Don't Leave Money on the Table
  • #546,629
  • Sep 7, 2020 4:13am Sep 7, 2020 4:13am
Bought at 1.3185... target 1.3270. stop 1.3100.
Data + Stat + Risk/Emotions Management
  • #546,630
  • Sep 7, 2020 4:14am Sep 7, 2020 4:14am
Quoting HaLBot
{quote} No one here says someone is a troll for picking a direction
ask Jay
Whenever you go against him, he keeps telling you are a troll

but i do not care
my account is happy with my shorts
Make money by doing the opposite of Giveachance aka loser
  • #546,631
  • Sep 7, 2020 4:17am Sep 7, 2020 4:17am
Be cautious guys that due to downtrend basis..GU will sooner or later have to visit around 1.3050 major support, a base below and we're heading to 1 2950s and 1.2880s will have to hold the pair from more falling toward 1.2780s.

This is a medium term view.
My technical analysis leading trades depend on Daily/Weekly/Monthly Chart
  • #546,632
  • Sep 7, 2020 4:18am Sep 7, 2020 4:18am
Would this be a goodbye to 1.32?

And a 1.271 welcome?
WT
  • #546,633
  • Sep 7, 2020 4:18am Sep 7, 2020 4:18am
just now a bullish harmonic pattern appeared on GBP index
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  • #546,634
  • Sep 7, 2020 4:20am Sep 7, 2020 4:20am
Quoting Georginson
Bought at 1.3185... target 1.3270. stop 1.3100.
Agree, I´m with you. 1.3250 to 1.3270 will be a great place to sell.
Observation is the path to discovery.
  • #546,635
  • Sep 7, 2020 4:36am Sep 7, 2020 4:36am
Quoting VM.
{quote} You really think that EU would forfeit access to its Single Market for the sake of fisheries? No access to British waters is a short-term problem, and given the size of this economy sector, won't cost that much even if all fishermen in Europe become unemployed. Access to Single Market will be for a very long time, and will send the message to all EU countries that you may exit EU and hold it to ransom over some small economic issue, and to all other countries, that EU is "weak". It just won't happen.
i think the EU and the UK are heading for a very hard trade war.
Fisheries are just on e aspect of that.
in wondering about yourself, you forgot what you came here to be part of
  • #546,636
  • Sep 7, 2020 4:42am Sep 7, 2020 4:42am
Normaly after fibo261 a long h4 candle can come true and after a small one. Waiting the drop but not on cable on gold parallel. Today usa is off so that means 8 hours later it can turn to buy trend lets see
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  • #546,637
  • Sep 7, 2020 4:45am Sep 7, 2020 4:45am
my opinion
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  • #546,638
  • Sep 7, 2020 4:47am Sep 7, 2020 4:47am
Tekin , ur smarter than the other.. hmm good and good morning
  • #546,639
  • Sep 7, 2020 4:52am Sep 7, 2020 4:52am
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close up
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yes yes yes
  • #546,640
  • Sep 7, 2020 5:01am Sep 7, 2020 5:01am
Quoting VM.
{quote} Moved SL to 20 pips profit. 1.32 held strong so far, and bulls may try to mount a counterattack to 1.325. I still expect 1.32 to be broken today.
Mistake. It hit my SL and continued lower, and it is difficult to find a good level to enter now. So even though I am with a decent profit, I feel like I lost a lot.

I have to think hard about a lesson for myself here. My analysis was spot on, timing of my entry was good, and I missed a big trade by locking (relatively) small profit. So I should have either placed SL higher, OR taken profit at support around 1.32, and waited for retrace to re-enter. First option would risk not having any profit (or having a loss) if I am wrong with my analysis, second requires skills that I still have to work on (although this forum help a lot with identifying important levels). I guess the choice should be based on how confident I am in my ability to read PA.

From a psychological point of view, I put too much pressure on myself to have at least some profit on a good trade. As John Moulton says (thanks to HaLBot for posting interview with him), you are a better trader if you disassociate yourself from money. Not easy to do, though.

[By the way, I am sort of new here, let me know if it is better to create my own thread to monitor/analyse my trades. I learn a lot from others posting their trades, but I don't want to scam.]
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