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Cable Update (GBPUSD)

  • #566,321
  • Dec 17, 2020 5:56am Dec 17, 2020 5:56am
All out at 1.36160, only 16 pips profit
I will learn that lesson for the next time
Long when price is above the band
short when price is below the band
yes yes yes
  • #566,322
  • Dec 17, 2020 5:59am Dec 17, 2020 5:59am
Quoting Moty
All out at 1.36160, only 16 pips profit I will learn that lesson for the next time Long when price is above the band short when price is below the band
i dont think it will be that simple as it sounds
  • #566,323
  • Dec 17, 2020 5:59am Dec 17, 2020 5:59am
Quoting Roszey
Remind me again why we loss ?? {image}
i was also wondering the same thing too.. they have been short since yesterday.. why are they always on the wrong side of the markert
99.9% persistence
  • #566,324
  • Dec 17, 2020 6:01am Dec 17, 2020 6:01am
Quoting Moty
All out at 1.36160, only 16 pips profit I will learn that lesson for the next time Long when price is above the band short when price is below the band
you can always learn something to be able to evolve and grow.
  • #566,325
  • Dec 17, 2020 6:03am Dec 17, 2020 6:03am
Entered short
Attached Image (click to enlarge)
Click to Enlarge Name: CamScanner 12-17-2020 14.03_1.jpg Size: 157 KB
yes yes yes
  • #566,326
  • Dec 17, 2020 6:06am Dec 17, 2020 6:06am
Quoting Moty
Entered short {image}
i don't know how to make double quote on FF
but you just said sell below the band..
  • #566,327
  • Dec 17, 2020 6:07am Dec 17, 2020 6:07am
Quoting Hunterrus84
3620 reached - target reached - yesterday target, I told about it yesterday several times, decided to close my LONGS and wait for the market to accumulate sellers {image}
so atleast you are profitable on this pair in 4 tries and you hear smart money is selling and you booked profit. what a genuis
  • #566,328
  • Dec 17, 2020 6:08am Dec 17, 2020 6:08am
Waiting for another SM seller couple to open short
Always Defend your investment 1775
  • #566,329
  • Dec 17, 2020 6:08am Dec 17, 2020 6:08am
Quoting gatenio
{quote} i don't know how to make double quote on FF but you just said sell below the band..
you have great sense of humor... even at the time of Red news!!!!!
  • #566,330
  • Dec 17, 2020 6:08am Dec 17, 2020 6:08am
Quoting stardust83
{quote} possible reversal after touch {image}
stardust83, unless GU decides to go for the target on the daily chart...anything possible at this point...
Attached Image (click to enlarge)
Click to Enlarge Name: GU 12.17.daily.png Size: 83 KB
Always trade your own plan...I don't provide trading signals.
  • #566,331
  • Dec 17, 2020 6:08am Dec 17, 2020 6:08am
Quoting Moty
Entered short {image}
just be careful dollar index is making new lows every hour
  • #566,332
  • Dec 17, 2020 6:10am Dec 17, 2020 6:10am
Bank of England is only noise
  • #566,333
  • Dec 17, 2020 6:13am Dec 17, 2020 6:13am
Quoting giveachance
{quote} just be careful dollar index is making new lows every hour
dxy coming into strong support. Boj will be buying dollars soon. Yen is too strong. Careful bulls...
A fool and his money are easily parted
  • #566,334
  • Dec 17, 2020 6:14am Dec 17, 2020 6:14am
Quoting Moty
Entered short {image}
Hold on buddy why the rush? Cable will drop for few hundred pips soon, look for confluence on higher time frames and once that level is reached look for reversal signals on 15/5 mins
my levels are 1.3660 & 1.3780, im planning to sell big somewhere in between
  • #566,335
  • Dec 17, 2020 6:15am Dec 17, 2020 6:15am
Due to the covid-19 the pound made new lows and higher highs, if this pattern really works we may be able to see a correction and test the support again, I should wait for the closing of the week or some sell signal.

I'm not buying or selling, I'm waiting.
Attached Image (click to enlarge)
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  • #566,336
  • Edited 6:34am Dec 17, 2020 6:17am | Edited 6:34am
Also METER from 15min to Daily TF are FULL LONG...anyway i'm out & now FLAT
Attached Image (click to enlarge)
Click to Enlarge Name: gu.png Size: 30 KB
  • #566,337
  • Dec 17, 2020 6:18am Dec 17, 2020 6:18am
Quoting MozzChops
{quote} dxy coming into strong support. Boj will be buying dollars soon. Yen is too strong. Careful bulls...
actually you said the opposite. BOJ have ample amount of assets on their balance sheet. they re even bigger than the largest hedge fund/buyer of securities in japan.
  • #566,338
  • Dec 17, 2020 6:18am Dec 17, 2020 6:18am
Quoting vinforex7
{quote} you have great sense of humor... even at the time of Red news!!!!!
red new is relative.

market is dead now, all pairs are dead. need to wait for some volume before enter a trade
  • #566,339
  • Dec 17, 2020 6:20am Dec 17, 2020 6:20am
Quoting fxmasterdxb
{quote} Hold on buddy why the rush? Cable will drop for few hundred pips soon, look for confluence on higher time frames and once that level is reached look for reversal signals on 15/5 mins my levels are 1.3660 & 1.3780, im planning to sell big somewhere in between
ya but moty may be right. we have a dollar making new lows and hedge funds are mostly dollar short. going into the month end there may be requirements for dollar buying. we have 2 days of next week and the week after that is new year's week. so bank closing may happen as early as wed next week just my opinion
  • #566,340
  • Dec 17, 2020 6:29am Dec 17, 2020 6:29am
I see a lot of people trying to pick the top again as usual, in my experience this is a losing strategy, if your trying to sell tops ask your self this question , are you below support for the swing, if not, do not bother, if you insist on trading against the swing always assume its a correction until the swing support is broken and if you want to trade a correction allow the market to make the first swing then try and enter into the third and even then its risky and hardly worth the effort as the third swing can be short and trap sellers.

There are occasions when a top is the absolute top but that is a more advanced strategy than needs higher t/fs taken into consideration and is not something most retails can do.
Follow The Markets Structure - Patience and Discipline
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