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Cable Update (GBPUSD)

  • #547,461
  • Sep 10, 2020 11:54am Sep 10, 2020 11:54am
Quoting Georginson
Bullish reversal daily candle yesterday, should price break the previous low of 1.2884 by more than 20 pips (1.2863), it will be a fake and paused daily reversal, meaning price will likely test 1.2740 in days ahead before final recovery to the upside. Should the low 1.2884 get defended yet again, then safe path to the northern area of 1.35. This is my view. Trade with caution. Peace.
1.2863 did break confirmation of fake and paused daily reversal... 1.2780 now tested almost at the 1.2740 level... Now all north clear path.
Data + Stat + Risk/Emotions Management
  • #547,462
  • Sep 10, 2020 11:56am Sep 10, 2020 11:56am
Quoting epzero
{quote} You are still entering long , why not wait till tomorrow and then you can take a position , it pays to wait some times
i will try 2 nite ( cad ) to slow them ( index ) down
any way gbp 32 is target so... have fun for sure up and down...
  • #547,463
  • Sep 10, 2020 12:00pm Sep 10, 2020 12:00pm
Quoting shahab8b
{quote} navk, I think the max SL for swing trades (where you are looking at +150-300 pips tp) is 1/2 ADR (60 pips on GU more or less, that prevents you from random noise). that will give you a RRR of 2.5:1 to 5:1. If I enter a trade and it goes 60 pips against me, that means I was wrong and I will just close it.
the prop a/c is easier

Just take a trade in the direction of trend and sleep over it.

All blue is my trend.

All red is my trend.

ha..ha..
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Intraday only.
  • #547,464
  • Sep 10, 2020 12:01pm Sep 10, 2020 12:01pm
Today profit. It should be $70 I lost $54 to GU erratic movement
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  • #547,465
  • Sep 10, 2020 12:16pm Sep 10, 2020 12:16pm
A round of applause for 1.28 people
Patience.....
  • #547,466
  • Sep 10, 2020 12:22pm Sep 10, 2020 12:22pm
Quoting shahab8b
{quote} Bones, I think the weekly HH/LL structure may hold and drive the price higher eventually. {image}
from my lessons: this is time when most traders lose hope in longs - switch to short or just close longs.

in my opinion we have just finished or close to finished wave 1 (brat) or corrective wave 4 (bull).

my bet is we are going above 1.3 from this territory. There will be decision point. But my gut feeling is we are going to revisit 1.34...

i may be wrong.
you can't stop the waves, but you can learn to surf
  • #547,467
  • Sep 10, 2020 12:24pm Sep 10, 2020 12:24pm
Quoting msniper
GBP index getting close to the daily support ! {image}
did you custom write your index? and do you have others?
  • #547,468
  • Sep 10, 2020 12:27pm Sep 10, 2020 12:27pm
Thank you BREXIT!
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  • #547,469
  • Sep 10, 2020 12:32pm Sep 10, 2020 12:32pm
hi. i bought down at 1.27913
tp1 at 1.29
tp2 at 1.32
tp3 1.345

i will take profits manualy by tqargeting the exhaustion on 5m tf near the tp's

or near those areas. long term i am bullish to 1.4 and then 1.64

scalp entry for a 4hr trade.

see how it goes

good luck to everyone
offering my system to copy trade. check my link
  • #547,470
  • Sep 10, 2020 12:32pm Sep 10, 2020 12:32pm
Quoting forda
{quote} from my lessons: this is time when most traders lose hope in longs - switch to short or just close longs. in my opinion we have just finished or close to finished wave 1 (brat) or corrective wave 4 (bull). my bet is we are going above 1.3 from this territory. There will be decision point. But my gut feeling is we are going to revisit 1.34... i may be wrong.
Agreed, I am down 400 pips this week, but if we can hold the 1.2780 tomorrow we have a good chance of revisiting 1.34.
  • #547,471
  • Sep 10, 2020 12:34pm Sep 10, 2020 12:34pm
Quoting kuroro001
{quote} In process i personally would like to buy near 2780/2800 But its time to watch the current level
Perfect day
COT: The precious data ignored
  • #547,472
  • Sep 10, 2020 12:34pm Sep 10, 2020 12:34pm
haha what a day
  • #547,473
  • Sep 10, 2020 12:37pm Sep 10, 2020 12:37pm
Quoting WhipKream
haha what a day
fell like a rock.

i think alot of accounts got blown today ging long
in wondering about yourself, you forgot what you came here to be part of
  • #547,474
  • Sep 10, 2020 12:40pm Sep 10, 2020 12:40pm
Quoting knkie
{quote} fell like a rock. i think alot of accounts got blown today ging long
And it may not be over
COT: The precious data ignored
  • #547,475
  • Sep 10, 2020 12:45pm Sep 10, 2020 12:45pm
Quoting knkie
{quote} fell like a rock. i think alot of accounts got blown today ging long
yep, stops needed always.
  • #547,476
  • Sep 10, 2020 12:45pm Sep 10, 2020 12:45pm
Took a fast BUY :

Entered 1.2813
Closed 1.2849
36 points

If i was brave, my ealiest entry should have been 1.2799

I wonder if it will stay below this for rest of US session, or crawl back 1.2885 or higher.

Any case, good session, I was just stupid calling BUY for the day with London Open and ignoring my technicals , rookie mistake...lol..but then again, Im still a rookie..hehe

Still on demo, so just lessons learned.
  • #547,477
  • Sep 10, 2020 12:47pm Sep 10, 2020 12:47pm
Quoting kuroro001
{quote} And it may not be over
i feel like it could be honestly. idk how much EUR got left. trump gonna wait it out. bunker boy huh? but seriously, if it goes further i will be pissed. christmas plans ruined twice now.
  • #547,478
  • Sep 10, 2020 12:52pm Sep 10, 2020 12:52pm
Cable just lost half of what it has made in the past 2 months in 7 days.
7 days!.
Crazyyy
Patience.....
  • #547,479
  • Sep 10, 2020 12:52pm Sep 10, 2020 12:52pm
Quoting WhipKream
{quote} i feel like it could be honestly. idk how much EUR got left. trump gonna wait it out. bunker boy huh? but seriously, if it goes further i will be pissed. christmas plans ruined twice now.
you really need to watch out man

equities still very high with a strong correction possible, bringing dollar up
Same goes with soft/agro commodities on high, correction is lurking strongly

All point to stronger dollar in the short term

I'm not saying gbpusd can't rise, but with knowing that about the dollar, + the brexit drama....risk is clearly on the downside

and check the COT chart i posted. You can't buy long term when you see such a fat increase in gbp short. Wait for them to cool off first
COT: The precious data ignored
  • #547,480
  • Sep 10, 2020 12:53pm Sep 10, 2020 12:53pm
The Power of SW Zone.. It held perfectly for me to sell.
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Le$$ I$ More
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