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Cable Update (GBPUSD)

  • #546,661
  • Sep 7, 2020 5:48am Sep 7, 2020 5:48am
Quoting LifeRider
I'm still a "student trader" (after oh so many years...), and finally I have an entry type that I'm relatively happy with - doesn't produce many whipsaws. It's the direction that I'm struggling with. I can't yet reduce my loss rate due to choosing the direction wrongly.
scroll back a blank chart and observe behaviour at trend change spots

learn this behaviour so you next time you see it you are sure what to do

it helps learning from history
feel free to invite me to your forum, if you have any
  • #546,662
  • Sep 7, 2020 5:49am Sep 7, 2020 5:49am
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yes yes yes
  • #546,663
  • Sep 7, 2020 5:49am Sep 7, 2020 5:49am
Quoting pipfarm
{quote} stop is now covered, so will hold the short trade longer

Was worth the wait, another 100 pips banked
Follow The Markets Structure - Patience and Discipline
  • #546,664
  • Sep 7, 2020 5:50am Sep 7, 2020 5:50am
Not sure we will have an agreement for decembre between U.K. and EU. Both stubborn.
  • #546,665
  • Sep 7, 2020 5:51am Sep 7, 2020 5:51am
Quoting JungleLionFx
{quote} scroll back a blank chart and observe behaviour at trend change spots learn this behaviour so you next time you see it you are sure what to do it helps learning from history
Thanks, I definitely need more of that.
I have no clue where it's going
  • #546,666
  • Sep 7, 2020 6:00am Sep 7, 2020 6:00am
Price now expected to bounce from 1.3120/1.3140 area to target 1.3320 area in days ahead before bearish resumption to 1.3070 area.
Data + Stat + Risk/Emotions Management
  • #546,667
  • Sep 7, 2020 6:01am Sep 7, 2020 6:01am
20/50/100 ema's 5min - 1hr now all crossed down...4hr turns neutral from crossed up. Bearish 1hr close. @ 99% of the 30 day adr at the current lo. 4hr is below.
Attached Image (click to enlarge)
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Trader with an Edge.
  • #546,668
  • Sep 7, 2020 6:03am Sep 7, 2020 6:03am
Quoting gatenio
{quote} im sure that the reverse will be at least to 3270 but i dont know where is the start.. unusual move and no NY to answer this move
im trying buy now

3150 tp open sl 20
  • #546,669
  • Sep 7, 2020 6:06am Sep 7, 2020 6:06am
why are people buying in this market can't you all read the signs?
  • #546,670
  • Sep 7, 2020 6:09am Sep 7, 2020 6:09am
Quoting epzero
why are people buying in this market can't you all read the signs?
Because the market never goes in straight lines and people can make money buying and selling in both a bull and bear market. Why are you so concerned with everyone elses trading?
  • #546,671
  • Sep 7, 2020 6:10am Sep 7, 2020 6:10am
Quoting epzero
why are people buying in this market can't you all read the signs?
because Mayor trend is still Long, short is only retracement
  • #546,672
  • Sep 7, 2020 6:13am Sep 7, 2020 6:13am
Quoting knkie
{quote} i think the EU and the UK are heading for a very hard trade war. Fisheries are just on e aspect of that.
Agree on a trade war; unfortunately for me, as I am in the UK, and we will lose massively (maybe EU will, as well, but this gives me no comfort whatsoever).
But don't expect this trade war to end quickly just because of economic difficulties. For politicians, they are not as important as political considerations.
  • #546,673
  • Sep 7, 2020 6:16am Sep 7, 2020 6:16am
Attached Image (click to enlarge)
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yes yes yes
  • #546,674
  • Sep 7, 2020 6:19am Sep 7, 2020 6:19am
Quoting Scotteyy
{quote} Because the market never goes in straight lines and people can make money buying and selling in both a bull and bear market. Why are you so concerned with everyone elses trading?
some things are better left unsaid, i have been saying it for days that market is falling and people still hold onto their buy believe, soon it would be too late for them, price has broken daily ma 21 so 160pips fall or more
  • #546,675
  • Sep 7, 2020 6:22am Sep 7, 2020 6:22am
Quoting epzero
{quote} some things are better left unsaid, i have been saying it for days that market is falling and people still hold onto their buy believe, soon it would be too late for them, price has broken daily ma 21 so 160pips fall or more
I agree we are at the start of a downtrend also based on institutional traders piling on the shorts in the past few weeks. But there's no need to go on about others trading in the opposite direction. Maybe they are scalpers?
  • #546,676
  • Sep 7, 2020 6:23am Sep 7, 2020 6:23am
Market won't stop falling until 1.29 is reached trying to catch the pull back is only silly because you can get trapped , rather sell the high
Attached Image (click to enlarge)
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  • #546,677
  • Sep 7, 2020 6:29am Sep 7, 2020 6:29am
Monthly chart
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RN, on my chart still got no signal for Long yet, but on M5 I got signal for stop Short. Let see what will happening ...
  • #546,678
  • Sep 7, 2020 6:34am Sep 7, 2020 6:34am
...steepest dly asc t/line has now been breeched to the downside ....could light blue area - ie 3051 prev sw lo be a 1st target area for longer term bears ? Dly chart below. Will the opening gap get closed 1st ?
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Trader with an Edge.
  • #546,679
  • Sep 7, 2020 6:41am Sep 7, 2020 6:41am
Short will continue.. close my long now
  • #546,680
  • Sep 7, 2020 6:42am Sep 7, 2020 6:42am
Quoting Scotteyy
{quote} Because the market never goes in straight lines and people can make money buying and selling in both a bull and bear market. Why are you so concerned with everyone elses trading?
other need to follow his trading style..
never mind
just for a cup of coffee...
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