Cable Update (GBPUSD) | Page 28056 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #561,101
  • Nov 25, 2020 10:32am Nov 25, 2020 10:32am
Quoting Bones
{quote} lol thats where the tl your working too is
Everyone bar yourself has got it under 23400

can you show us all your maths please ?
Que Sera
  • #561,102
  • Nov 25, 2020 10:36am Nov 25, 2020 10:36am
Quoting Catempire
{quote} Everyone bar yourself has got it under 23400 can you show us all your maths please ?
you don't need maths ,just use you're eyes ,
your monthly line has to carve slightly the second touch ,how about you zoom into that point and post it
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #561,103
  • Nov 25, 2020 10:37am Nov 25, 2020 10:37am
Quoting Georginson
{quote} My stop is 1.3535.
more then 150.. sorry this is insane to risk 150 pips.
  • #561,104
  • Nov 25, 2020 10:38am Nov 25, 2020 10:38am
Quoting kuroro001
{quote} For now, just one like i said at 3375 I will wait before adding, and if it drops as i want i'll add on the way down
when/where did you close your short at 1.3290 ?
  • #561,105
  • Nov 25, 2020 10:38am Nov 25, 2020 10:38am
Quoting gatenio
{quote} more then 150.. sorry this is insane to risk 150 pips.
Not if your TP is under <1.27
Que Sera
  • #561,106
  • Nov 25, 2020 10:43am Nov 25, 2020 10:43am
Quoting Headland
{quote} As I've said many times, I have no pre-conceived bullish or bearish bias - ever ...I just follow the technicals wherever they take me - and point to what is the greater probability per my edge - up or down, I don't care, - when they don't - I stay flat/out of market until they do, consistent with my edge. I certainly never get emotionally involved with the market not let my ego get involved in it. Even if your read of the fundamentals is right, (I have no idea, I just know the perceived wisdom on any given outcome re the big fundie themes...
With respect.

there are many different styles to trading the market... many people technicals will only tell them to start selling after the markets moved 150points down. That’s not for me.

what you’re looking at might tell you this is going to go up, until it tells you to go down.

I am taking a preemptive View / stance at what can only be viewed as a long term resistance, & until it’s gone against..would say it’s probably slightly to premature to make this statement.

”It is very clear in here that certain longer term bears' analysis of the fundie/global macro environment is either wrong or too early re the effects of such a conclusion.”
Que Sera
  • #561,107
  • Nov 25, 2020 10:45am Nov 25, 2020 10:45am
I can't get that major multi year mthly desc t/line that joins 2.1162 with 7188 any where but circa 3420 even on a scroll out/magnify...and if you join the 3482 with it then we are right on it. mthly below.
Attached Image (click to enlarge)
Click to Enlarge Name: 45e9e6c56b0e97f244a27760a9df5410.png Size: 110 KB
Trader with an Edge.
  • #561,108
  • Nov 25, 2020 10:48am Nov 25, 2020 10:48am
Quoting Catempire
{quote} With respect. there are many different styles to trading the market... many people technicals will only tell them to start selling after the markets moved 150points down. That’s not for me. what you’re looking at might tell you this is going to go up, until it tells you to go down. I am taking a preemptive View / stance at what can only be viewed as a long term resistance, & until it’s gone against..would say it’s probably slightly to premature to make this statement. ”It is very clear in here that certain longer term bears' analysis of...
it's fair point.
Trader with an Edge.
  • #561,109
  • Nov 25, 2020 10:49am Nov 25, 2020 10:49am
Grey areas are what certain style of trading tries to position for. Doesn't always work out, indicators and 30 minute charts will never give you the heads up, but when it does it was well worth risking 150 pips for.
Attached Image (click to enlarge)
Click to Enlarge Name: GBP_USD_20201125_16.44.png Size: 108 KB
Que Sera
  • #561,110
  • Nov 25, 2020 10:49am Nov 25, 2020 10:49am
Quoting Catempire
{quote} Not if your TP is under <1.27
it doesnt matter if your tp is in hell.
and your RRR is 1:100
risking 150 is insane.. if you trade 0.01 so ok.. but i guess he is not.
  • #561,111
  • Nov 25, 2020 10:51am Nov 25, 2020 10:51am
that line would be drawn on the quarterly in my opinion -at least
any sane person over that distance would agree
Attached Image (click to enlarge)
Click to Enlarge Name: 51 GBPUSD-Daily.png Size: 38 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #561,112
  • Nov 25, 2020 10:53am Nov 25, 2020 10:53am
Quoting gatenio
{quote} it doesnt matter if your tp is in hell. and your RRR is 1:100 risking 150 is insane.. if you trade 0.01 so ok.. but i guess he is not.
It fine to risk 150 pips as is risking £1000 a pip if you are a billionaire.

Its all relative.
Que Sera
  • #561,113
  • Nov 25, 2020 10:56am Nov 25, 2020 10:56am
Quoting Bones
that line would be drawn on the quarterly in my opinion -at least any sane person over that distance would agree {image}
Are you in GU shorts yet? Few weeks ago you said if it managed to go back to 3290, you would short blindly...now you have even a better entry.
Everyone can see the chart, but only a few can actually read it.
  • #561,114
  • Nov 25, 2020 10:57am Nov 25, 2020 10:57am
Quoting gatenio
{quote} it doesnt matter if your tp is in hell. and your RRR is 1:100 risking 150 is insane.. if you trade 0.01 so ok.. but i guess he is not.
Us swingers have large stops, it goes with the territory. As long as your risk is under control its all good.
I'm short, will remain short. My plan works until it no longer does. Then I'll close and take the loss. Its the cost of trading.
A fool and his money are easily parted
  • #561,115
  • Nov 25, 2020 10:58am Nov 25, 2020 10:58am
Quoting gatenio
{quote} it doesnt matter if your tp is in hell. and your RRR is 1:100 risking 150 is insane.. if you trade 0.01 so ok.. but i guess he is not.

pips mean nothing it's all about % of account risk (however many pips that is,) and, whether that risk sits comfortably with the the known variables/historical peformance parametres of your edge, (if you know them - which you should.) Eg If you have a 65% winning edge it would be no good risking say 5% because unless you can handle a 20% drawdown in the next 50 trades, which is the greater probability [with a 21.5% chance of having a 25% drawdown over the next same number of trades.] such a dd will destabilise you psychologically and cause you likely abandon the edge or lose more.
Trader with an Edge.
  • #561,116
  • Nov 25, 2020 11:04am Nov 25, 2020 11:04am
Quoting gatenio
{quote} more then 150.. sorry this is insane to risk 150 pips.
I can hold floating of 500 pips if i am sure of recovery... How about treating your forex account as a savings account and depositing spare funds instead of withdrawals which will always boost your equity in addition to strategic placing and spacing of entries?

More on this later...

Forex is a marathon and not a quick rich scheme as most traders play it.
Data + Stat + Risk/Emotions Management
  • #561,117
  • Nov 25, 2020 11:07am Nov 25, 2020 11:07am
Quoting MozzChops
{quote} Us swingers have large stops, it goes with the territory. As long as your risk is under control its all good. I'm short, will remain short. My plan works until it no longer does. Then I'll close and take the loss. Its the cost of trading.
Very well put mate.
Data + Stat + Risk/Emotions Management
  • #561,118
  • Nov 25, 2020 11:10am Nov 25, 2020 11:10am
It can go either way today.
It's FOMC, and market can drop USD like mad, or drop everything else like mad.
If I had to bet, I would bet with GU bears, but the thing is, I don't have to bet and I am happy to stay away for the time being.

By the way, a warning that most here probably don't need. Whatever is your view, don't use tight stop before FOMC announcement; swings of 50 pips in both directions are not uncommon.
  • #561,119
  • Nov 25, 2020 11:14am Nov 25, 2020 11:14am
Quoting Tunapar01
Guys I know this is off-topic, and I am directing this question to EU traders. Based on your experience, which realiable broker allows you to trade on MT4 ame allows you to up to 1:200 or 1:400 leverage?
There are many.. But issue is spread will be high and they do compulsory square off if your margin goes below 15%.
  • #561,120
  • Nov 25, 2020 11:15am Nov 25, 2020 11:15am
Quoting Georginson
{quote} I can hold floating of 500 pips if i am sure of recovery... How about treating your forex account as a savings account and depositing spare funds instead of withdrawals which will always boost your equity in addition to strategic placing and spacing of entries? More on this later... Forex is a marathon and not a
quick rich scheme as most traders play it.
respect, we holding different point of view.
for me its a sprint.

good luck, im shorting too.. no 150 pips sl.
988 traders viewing now