Cable Update (GBPUSD)

What a scalping market today on GBP/USD. I made about 90 trades today. In, out, in, out, in, out. Not sure how much pips I made because of long term holdings messing up the gains but it must be at least 150 pips. Gosh, that's crazy, my eye's are gluing and again short on 1,3790.

Here you can learn an important lesson: Markets are not the same all days. They differ. The reason behind that are the algos. I cannot tell you more. Just get your 5 cents out of my comment: WAIT for YOUR SETUP. Don't gamble!! (people who are always in the markets are idiots or genius who know every technique of trading out there).

Just covered my shorts again 1,37874.

Moty, here is my alternate wave count...I'm not saying my is better only different...

Looks like they try to push it through, orderflow is very choppy, be careful, for me looks more like faking in the longs. Sellings orders coming in at 1,3805.

Ok, current push has some backup from other currencies. That's why it stays on top currently. I wait with short.

might go to 1.3800 before heading down, that's my 2 cents, they make tons of money with fake breakouts, hopefully we'll see it in action

Hello guys,

I think it is a bad practice to place trades without stop loss.

The pound-dollar pair has been rising since yesterday.

I had a trade open during the early hours but closed it at break even.

The price later got to my anticipated take profit target.

I have to wait for another trading opportunity.

I think the GBPUSD pair is enjoying the ride up because of the news that Britain is vaccinating its population quickly.

Well, I hope the price gets to 1.3800 before the end of the week and then maybe move lower to 1.3750 area because that was a previous resistance which might act as a support now.

Lets see how the week plays out with this pair.

If it does not get to 1.3800 area, then I think it will find support at 1.3750 area.

Please I want to say this again. It is a good practice to trade with stop loss. Forex trading involves high risk and your entire account might be wiped out if you don’t use stop loss.

You can decide to trail your profit to maximize gains by moving the stop loss into profit zone.

Please trade safely.

Party started.

Conspiracy theory:
As similar recent news up spike, price will be taken to above 1.38142. Fall will come from above at red flag news.
stay cool.

-Sorry, do you search for "official" explanation?? lol I can tell you what's going on: I shorted again at 1,37972 and do you know why? Fake the longs in.
You need a good overview and lots of bullets and lots of knowledge. I stop in 30 minutes and call it a day. I builded up also short position over time, let's see.

And out at 1,37941. - that was tight, almost ripped my short profits. Anyway, let's go on!

Interesting PA today... any hints for what's going to happen? Will price take off a bit higher with that choppy PA? My gutt feeling says no... - Missed next short but that's fine.

Oh... Roszey, this is also a SW on H4, right?

Not today or at least not till london close and that PA. Also EUR/GBP not supporting that. Good for shorts, just my two cents.

it was strange that it goes without correction.but h4 can go up more than 1.38 without problem.

Simple as daily base above 1.3770=bullish
Weekly base above 1.3790=bullish

No wonder why price playing in between

Still hold my shorts

i was affraid of 1.35600 move.but it was fake,extra move.h4 should go up from 1.36 it was real reverse.

we still have to wait for today's d1 candle where it will close.
but tomorrow will be the day of the bears.

now it is getting interesting...

the market is going to reverse