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Cable Update (GBPUSD)

  • #556,701
  • Nov 3, 2020 4:17pm Nov 3, 2020 4:17pm
Quoting OnlineAddict
{quote} Its election night...30-50 pips is a minute thing for Cable, so you don't have to doubt your strategy simply because it overshoots those numbers. I think we will see 2900 relatively soon and it doesn't matter to me if we spike to 3100 before that or 3200 or 3300 or even higher. I will not re-evaluate my target, I will just look for the best possible entry, thats all. But looking at the daily setup, we could really hit 3270, or even 3340, before going down. But like I said...who cares...with the proper money management, 200 pips DD is nothing....
Well said
  • #556,702
  • Nov 3, 2020 4:22pm Nov 3, 2020 4:22pm
My s/l is at 100 pips over b/e which is 1.2990 not sure if I should extend it to 150 and go to sleep lol. But as mentioned it can go up and down in minutes is it worth the risk. Go to bed and accept a hit to trade tomorrow
Insane in the Brain..
  • #556,703
  • Nov 3, 2020 4:24pm Nov 3, 2020 4:24pm
Quoting OnlineAddict
{quote} After closing a trade in profit...the worst thing a trader can do, is to open a counter trade right away!
Well how do I say this, ignoring him is the best way to read this forum.

Edit:
Still holding these.
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  • #556,704
  • Nov 3, 2020 4:28pm Nov 3, 2020 4:28pm
Quoting OnlineAddict
{quote} Its election night...30-50 pips is a minute thing for Cable, so you don't have to doubt your strategy simply because it overshoots those numbers. I think we will see 2900 relatively soon and it doesn't matter to me if we spike to 3100 before that or 3200 or 3300 or even higher. I will not re-evaluate my target, I will just look for the best possible entry, thats all. But looking at the daily setup, we could really hit 3270, or even 3340, before going down. But like I said...who cares...with the proper money management, 200 pips DD is nothing....
Well i did do further analysis at different time frames and HOLY CRAP! there are multiple confluences at 1.33!! I have set a sell limit, lets see if we get there
  • #556,705
  • Nov 3, 2020 4:28pm Nov 3, 2020 4:28pm
Quoting OnlineAddict
{quote} Its election night...30-50 pips is a minute thing for Cable, so you don't have to doubt your strategy simply because it overshoots those numbers. I think we will see 2900 relatively soon and it doesn't matter to me if we spike to 3100 before that or 3200 or 3300 or even higher. I will not re-evaluate my target, I will just look for the best possible entry, thats all. But looking at the daily setup, we could really hit 3270, or even 3340, before going down. But like I said...who cares...with the proper money management, 200 pips DD is nothing....
I agree on 1.29 (and then probably lower), but really have no idea how far we can go up. 1.32 looks a tough nut to crack, but on election night, all bets are off. I guess trading-wise, I prefer a landslide Biden win and blue wave (hope Coreg would survive it); then after a big move up I would short with confidence.
  • #556,706
  • Nov 3, 2020 4:30pm Nov 3, 2020 4:30pm
Quoting OnlineAddict
{quote}But like I said...who cares...with the proper money management, 200 pips DD is nothing.

That is absolutely correct!
My current best is like over $200 against me. On gold. My pips counter is 2k pips for those $200. Hit the bottom with 3.5k balance as a start, but survive it. All other tests with 4.7k and 5k or so and around, never hit the bottom, unlike the 3.5k did...

Before anyone starts shooting on me, I am only buying gold. From Feb'20. Only buys. Taking all sell corrections, bravely, up into my ass...
Maadik Hugiis. IQ 69.
  • #556,707
  • Nov 3, 2020 4:31pm Nov 3, 2020 4:31pm
Quoting BeeTogether
My s/l is at 100 pips over b/e which is 1.2990 not sure if I should extend it to 150 and go to sleep lol. But as mentioned it can go up and down in minutes is it worth the risk. Go to bed and accept a hit to trade tomorrow
Well its time to sleep for me too but im reconsidering the idea of sleeping today
  • #556,708
  • Nov 3, 2020 4:34pm Nov 3, 2020 4:34pm
When u wake up your TP not triggered
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Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #556,709
  • Nov 3, 2020 4:37pm Nov 3, 2020 4:37pm
Quoting fxmasterdxb
{quote} Well its time to sleep for me too but im reconsidering the idea of sleeping today
Me too lol
Insane in the Brain..
  • #556,710
  • Nov 3, 2020 4:44pm Nov 3, 2020 4:44pm
Quoting IPMan
{quote} Well how do I say this, ignoring him is the best way to read this forum. Edit: Still holding these. {image}
Good job
  • #556,711
  • Nov 3, 2020 4:47pm Nov 3, 2020 4:47pm
Quoting nessus94
{quote} You said to 1,24 and now 1,32-1,33 ?

nessy, you do remember I have a special set up for you and barnie, right?
keeping this hedge, just to piss you off. above anything else.
here is a little update on the hedge...
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Maadik Hugiis. IQ 69.
  • #556,712
  • Nov 3, 2020 5:12pm Nov 3, 2020 5:12pm
Hours before the result, king Dollar beaten. So what happens to dollar when the result is announced and Biden wins as expected? More beating for dollar?

My take is they may be preparing for a big dollar bull.
Data + Stat + Risk/Emotions Management
  • #556,713
  • Nov 3, 2020 5:16pm Nov 3, 2020 5:16pm
This is where we are standing currently
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  • #556,714
  • Nov 3, 2020 5:21pm Nov 3, 2020 5:21pm
I feel like dollar knows trumpy is gonna win so it’s getting it’s last chance at low prices before the take off
  • #556,715
  • Nov 3, 2020 5:26pm Nov 3, 2020 5:26pm
Seems GU is topping before the crash, same for EU but more clear around 1.1765 is the turning point.
Not sure that strong dollar equates Trump wins.
TBH, Trump is the best president for US Economy while Biden with his weakness might be better for the world stability.
My technical analysis leading trades depend on Daily/Weekly/Monthly Chart
  • #556,716
  • Nov 3, 2020 5:35pm Nov 3, 2020 5:35pm
Quoting Georginson
Hours before the result, king Dollar beaten. So what happens to dollar when the result is announced and Biden wins as expected? More beating for dollar? My take is they may be preparing for a big dollar bull.

Not so quick...

The electors of each state meet in their respective state capital on the first Monday after the second Wednesday of December to cast their votes.[9] The results are counted by Congress, where they are tabulated in the first week of January before a joint meeting of the Senate and House of Representatives, presided over by the vice president, as president of the Senate.[9][12] Should a majority of votes not be cast for a candidate, the House turns itself into a presidential election session, where one vote is assigned to each of the fifty states. Similarly, the Senate is responsible for electing the vice president, with each senator having one vote.[13] The elected president and vice president are inaugurated on January 20.

also, from BBC:

Has a candidate lost the public vote but become president?
Yes. In fact, two out of the last five elections were won by candidates who had fewer votes from the general public than their rivals.
It is possible for candidates to be the most popular candidate among voters nationally, but still fail to win enough states to gain 270 electoral votes.
In 2016, Donald Trump had almost three million fewer votes than Hillary Clinton, but won the presidency because the electoral college gave him a majority.
Maadik Hugiis. IQ 69.
  • #556,717
  • Nov 3, 2020 5:36pm Nov 3, 2020 5:36pm
Now I'm fully convinced Dollar will win.... GU did touch 1.3130. Open sell @ 1.3121 target 1.2921
Data + Stat + Risk/Emotions Management
  • #556,718
  • Nov 3, 2020 5:47pm Nov 3, 2020 5:47pm
...Dly R1 reached already as the upside continued to a current dly Hi of 3131 and upside breech of that 4hr/dly desc t/line now. Mthly R1 is @/around 3141 and above that wkly R1 @/around 3167 in the prev 4hr/dly sw hi = prev res = pot res zone to 3176, with 61.8% of the 3482-2675 @ 3173. 4hr is below.
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Trader with an Edge.
  • #556,719
  • Edited 6:10pm Nov 3, 2020 5:54pm | Edited 6:10pm
Learning to Take Profit..

100 Pip's win on that one, w/GJ; -the evil badder (?) twin-sister,
of GU. Hilarious... I had to actually calculate, "Where exactly should I take profit"?
-One of the harder things, in trading !

Sick- 20 Percent Day, w/1% Leveraged Trades. -That's about all we can squeeze,
over here in the U.S. Too Hilarious.
This whole thing has incredibly large band's of iterations, going on w/it.

She went "North" After that 23.6-38.2 Retracement, and that's "All she wrote"!
Hilarious, Love it...
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I will work to Objectively Identify my Edges
  • #556,720
  • Nov 3, 2020 6:06pm Nov 3, 2020 6:06pm
The real question here is if i should take a full margin sell in hopes the election will make me some money?
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