Cable Update (GBPUSD)

YES. Fly my pretty. Someone saw the bat signal. Bloody options expiry!

It simply doesn't want to get down let's see

it's insane how the cable behaved or something cannot be understood..at least for me.

I am just wondering, why you all are selling GBPUSD, when fundamentals and technical picture is for longs..
Why to catch highs, why to guess? It is so stupid.
Just buy the dips and go with market.

Rising wedge and divergence in momentum
& dxy

because some of us trade on the small TF's and we can swing like broken doors back and forth...

Do whatever makes you money man; I caught plenty of pips from catching the high. I rely on FX to pay the bills at the moment- if you want to wait and buy the dips that's totally fine too. We all have different goals and methodologies. There was no guessing, price action and Fibonacci were clearly setting up a short yesterday.

Looks to me like another bullish wave coming for next week

it is about 286 pips
if buy the dips; what is the maximum pips that can be obtained???

i have both sell and buy from January 20 2021 until yesterday Friday February 12, 2021
And I HAVE BANKED
1527.1 PIPS

admit that the technical picture for long

still have hold for weekend both buy and sell at approximately around same price

Broker used

FUSION MARKET
Australian Broker

Your strategy is dangerous. Usually in long run it doesn't work,- because algos know trader's like you. You have to have VERY deep pockets to survive strategy's like grids. If you set SL's to tight, market kicks you out, too far you run into losses or equal. The reason why it currently works is the coordinated central banks policy around the world and kicked big players in the ass. If it stays like that that this works? I don't know.

Just don't overleverage yourself and don't aim for more than 30% p.a. on 20:1 Leverage (10% risk) - accordingly 60% p.a. on 40:1 LEverage (20% risk). These are approximately the stats to systems like grid currently.

By the way: Pure grid systems don't work. Too easy to beat by algo. I don't say you cannot beat it...

Another sub 13week awr closed with a range of 77% of it, 185pips. The Daily is making quite a habit of small sub 30day adr pip ranges and Friday was no exception @ 87%. In fact the 30day adr as a result has fallen to 99pips as of Friday's close. So far this Mth we have traveled 299pips which is 60% of the 6mth amr.

5 up, 1 down, 3 up, 1 down, and now 5 up again - on the Wkly t/f, as this week's solidly bullish candle close makes it 5 in a row again, with the candle closing very near to it's hi of 3866 . A further move to the upside always seemed to be more logical if not empirically more probable after last week's bullish hammer weekly close. The Wkly remains in a general fractal uptrend. Friday's Dly candle closed solidly bullish as a hammer and again closed near it's 3862 hi. This t/f too remains in a general fractal uptrend. The 4hr too is again in a general fractal uptrend after an upside breach of it's previous 3609-3759 range to the upside at the start of the week.

Actually, the price has only moved up 109pips from last week's 3757 hi to this week's 3866 hi, and this and the pullback from 3866 to Friday's 3775 lo has been the character of the move up in the Dly general fractal uptrend since that 2675 major swing lo, ie incremental moves up and relatively shallow pullbacks. (It is always useful to know the character of a trend in this respect, [on any t/f] so you can see if something occurs that is out of character and may therefore be significant.)

That prev 1hr/4hr/dly swing hi to 3866 = prev res = pot res saw price encounter some supply at Friday's 3862 hi taking price down to 3845 before it closed @ 3851bid. An upside break of it now though looks more likely than not, at some point? Of course, the 'it can't go any higher/there must be a sizeable pullback' traders will probably be right at some point, question is, when? There is a possible rising wedge on the Mthly that I have superimposed onto the Wkly chart below with the blue horizontal lines. It is also shown on the Mthly below that.

Wkly then Mthly below.

Quoting Roszey

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Fake Forex Trader Fake Live Account Servers (MT4/MT5) MetaQuotes Fraud : Daytrading (reddit.com)

Ignored

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This MT4 Server is a KINGMAKER!

Big drop is coming next week.

Quoting SteadyAsItGo

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... I HAVE BANKED 1527.1 PIPS {image}

Ignored

All due respect to the amount of pips collected!

However, for me, pips does not equal money.

Here are 62 entries on GU, that did collect 100 net pips on each entry.
6,200 pips for about a month. Buy GBP only.
Unfortunately... 6.2k pips made A MISERABLE $620, cause one entry is 0.01 lot.
If 0.01 is replaced with 0.10 and the rate falls with 1,000 pips against the buys? The account will be wiped out...
While, 0.01 allows a fall of about 2,000+ pips and still keeping the account, even closing all at profit, at the following 40% correction.
That is why, for me, BIG pips does not immediately mean BIG money, just some money...