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Cable Update (GBPUSD)

  • #558,281
  • Nov 11, 2020 12:42am Nov 11, 2020 12:42am
Asian session closed positions


open positions....
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Extreme gut feeling trader
  • #558,282
  • Nov 11, 2020 12:46am Nov 11, 2020 12:46am
Quoting JayBag
{quote} Morning Traders, Considering PA, I think it’s safe to hunt for longs.. I wanted 1.303 area but I don’t think it will come so soon. Planning on negotiating a buy between 1.32175 and 1.31963 area for today. Lets see how it pans out. StaySafe
Value area for Monday at 1.3164 has not been tested.

From today's high to that level is just about cable's Average Daily Range.

I suggest that traders look out for opportunities to sell today, targeting the 1.3164 level or slightly lower.

Trade safe everyone!
  • #558,283
  • Nov 11, 2020 12:56am Nov 11, 2020 12:56am
GU keep playing yesterday resistance 1.3264. Should be coming soon .
  • #558,284
  • Nov 11, 2020 12:57am Nov 11, 2020 12:57am
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yes yes yes
  • #558,285
  • Nov 11, 2020 12:57am Nov 11, 2020 12:57am
Quoting Georginson
Good spacing should contain at least to 120 to 200 pips in between for swing... Example Sold 1.3065 Sold 1.3247 Sell limit 1.3330 Each target should be lower laddered to the entry price of the previous. This is an indirect system of inevitable drawdown expectation, systemic entry and money management. Drawdowns can be another opportunity for new entry if the money management is Diligently applied.
In this way.. if the trade goes on to previous high of 1.34800, you would be on a combined loss of approximately 800 pips.

So where would you decide the direction has changed... and book your losses, if it didn't turn?
Would you stack more trades.. if your Sell limit at 1.3330 hits?
What is your proportionate lot size for a 10k USD Equity?

And it it turns back in your direction, where would you book your profits?
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  • #558,286
  • Nov 11, 2020 1:04am Nov 11, 2020 1:04am
1.3253 area could be the low of the day. i dont like to call such a statement.
careful in this area.
already took buy lil higher.

but a lot of market holidays. low volume.. so just for me.. not planning any short right now.


sl already on be
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  • #558,287
  • Nov 11, 2020 1:07am Nov 11, 2020 1:07am
I am adding longs as you Guys are selling
Make money by doing the opposite of Giveachance aka loser
  • #558,288
  • Nov 11, 2020 1:07am Nov 11, 2020 1:07am
Quoting vinforex7
{quote} In this way.. if the trade goes on to previous high of 1.34800, you would be on a combined loss of approximately 800 pips. So where would you decide the direction has changed... and book your losses, if it didn't turn? Would you stack more trades.. if your Sell limit at 1.3330 hits? What is your proportionate lot size for a 10k USD Equity? And it it turns back in your direction, where would you book your profits? {image}
Maximum stake on all entries will not exceed 7%

So aggregate drawdown will not also exceed 24% even if 1.3480 is attained considering the entries have 120 - 200 pips space between them. Also noteworthy that every break of a new resistance often come with 150 - 200 pips retracement... Check June - September moves.
Data + Stat + Risk/Emotions Management
  • #558,289
  • Nov 11, 2020 1:08am Nov 11, 2020 1:08am
Same here, only longs it is not a beginning of long trend, but not the end
Observer effect
  • #558,290
  • Nov 11, 2020 1:10am Nov 11, 2020 1:10am
Quoting nessus94
I am adding longs as you Guys are selling
where is the 1.24 in the coming weeks? market kick our bias real bad.
bearish flag on Weekly vanish like nothing.
  • #558,291
  • Nov 11, 2020 1:10am Nov 11, 2020 1:10am
sell area today

1.3295
1.3325
1.3365
  • #558,292
  • Nov 11, 2020 1:14am Nov 11, 2020 1:14am
Same people calling long will quickly switch to sell after 60 pips drop from High ... What a thread we have here.

One thing is certain, stay with one direction and it will come there and still go positive. The direction between 1.3000/1.3300 is extremely repeatable between now and year end.
Data + Stat + Risk/Emotions Management
  • #558,293
  • Edited 1:36am Nov 11, 2020 1:16am | Edited 1:36am
I closed my short with a small loss. 1.3252 is a key price for me (the September August close above it is what have determined the long term bias switch to the bull side), I expected a daily close below, it closed above the price and the dotted TL. All shorts should be very careful

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  • #558,294
  • Nov 11, 2020 1:21am Nov 11, 2020 1:21am
Quoting Georginson
{quote} From my perspective, I see 1.3180 - 1.3220 as buying at the top. I will consider a long after 150 to 200 pips retracement (1.3130 - 1.3080) area.
Uhm, well, fair enough but I am looking at the weekly 100% at 1.34 area.. Having this in mind is the reason I decided to hunt for longs at 1.3175 area..

Maybe we can see the retracement next week to buy lower?

SS
  • #558,295
  • Nov 11, 2020 1:23am Nov 11, 2020 1:23am
Quoting pipcenturion
{quote} Value area for Monday at 1.3164 has not been tested. From today's high to that level is just about cable's Average Daily Range. I suggest that traders look out for opportunities to sell today, targeting the 1.3164 level or slightly lower. Trade safe everyone!
Looking at PA, today’s candle is likely to close green. Ofcause bears can eat as well but overall idea for today’s candle is bullish.

Lets see
SS
  • #558,296
  • Nov 11, 2020 1:24am Nov 11, 2020 1:24am
Quoting JayBag
{quote} Uhm, well, fair enough but I am looking at the weekly 100% at 1.34 area.. Having this in mind is the reason I decided to hunt for longs at 1.3175 area.. Maybe we can see the retracement next week to buy lower? SS
Retracement from 1.3280/1.3330 area looks imminent from here, next week being bearish looks quite easy in the eye to me.
Data + Stat + Risk/Emotions Management
  • #558,297
  • Nov 11, 2020 1:26am Nov 11, 2020 1:26am
1.32835 could be resistance
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yes yes yes
  • #558,298
  • Nov 11, 2020 1:27am Nov 11, 2020 1:27am
Found a little known bearish flag! On D1. Called: LiL PiP.
She will fall like a stone!
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Maadik Hugiis. IQ 69.
  • #558,299
  • Nov 11, 2020 1:27am Nov 11, 2020 1:27am
if can break below 1.3250 then today we'll see 1.3150 cheer for bears
  • #558,300
  • Nov 11, 2020 1:35am Nov 11, 2020 1:35am
If it breaks that area, then we're looking at 1.34, otherwise 1.3183 or 1.3085
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Lost....
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