Cable Update (GBPUSD)

Scalping short to recover my drawdown
1.4022

[quote=Hutch;13419917]FPA technical analysis: GBP is coming to important weekly target, where we expect some response in a way of pullback. The depth of pullback should tell us whether cable follows to 1.47 then or it turns to major downside reversal.

He still there
Wah
Wonder did he getting tired making video

Trader should always look at the trend and trade small to make best out of it, rest is good when the trade is good.

is good buy on the dip 1.3890 tp 1.40700

120 to 130 pips is a good DIP for sure

the daily range is only 92

All the higher timeframes are Bull seems like a good idea to be going long!!

Come on dx fly like the wind

Quick scalp short in at 1.4013

Out + 4 pips

That's the only way I'm able to make pips on the long run, The moment I get greedy and go for a homerun I kill my account.

Re-enter short scalping

ready for bounce

G/M, early asian session leg up to 4052 and downhill since then with price breaching steepest 1hr asc t/line to downside...72pip fall so far.....price has arrived @ a prev 1hr sw lo zone co-existing with a prev 1hr/4hr sw hi zone = prev res = pot rbs that extends to circa 3976. 1hr below.

GU sliding finally lol

... no bullish hidden div yet but next t/f that might well develop with a deeper fall is 1hr so long as price holds above 3951. Similarly, 4hr would have to stay above 3829 - no where near developing on this t/f yet but could do with a steeper fall. The absence of hidden div on a pullback doesn't mean that price won't rise just that on my oscs and settings it's not present right now.

I think we can drop down to the 1h demand at 3922/31 but decided to take profit at 85... 65 pips/6.5xR

Plenty room to run in DXY to 90.65 at least

1810 gold short?

Go go go

You have to find a way that suits you. Its like sport. There is not only one way and you can't read a book. The only way to learn is by doing it.

I'm very Bullish on this pair, but if I see a short set-up - I'm going for it, but you will read that you should only go with the trend. Well that's ok when you are in a trending market... What do you do in a ranging market? Lose a load of money?

Got German IFO coming out next hour, current market moves might be unstable as news impact is medium

..I'm surprised you didn't have the area above that yellow zone you have marked, ie the one @ the current pullback lo - it was an obvious zone - see my 1hr chart posted above.....re targets....all you can do is mark the potential supp/res zones and see what PA does at them.

NEXT 1.39500

I agree you have to find a method you like. When I came to this site in 2009 it seemed like most were days traders and scalpers. Now in 2021 it seems like most here are still day traders and scalpers. I don't see a problem with that at all. Occasionally I will scalp, but just to amuse myself LOL. Trend trading is best if you want large returns and consistent profits without staring at your screen all day. It also takes less effort than scalping. I don't think scalping really requires a strategy or method, and maybe that's why a lot of people here lack skills at trading. But I think it takes someone who is very driven and focused to scalp everyday and make consistent profits. Some years back someone told me people on here are not really looking for a trend or where the trend is turning, but just a turn anywhere. I'd say that would work well for a scalper or day trader. But I think scalping is best when you have a trade that's on the high end, say at least $100 per pip. Then if you make 5 or 10 pips you will always make a nice profit. I'm in the US where we have 50:1 max leverage, with some pairs even 20:1. I started with a UK broker until they changed the laws here. I guess I'm always thinking if you have anywhere near a decent starting capital, you could become wealthy quickly. Turning $50,000 into a million as a trend trader within one year is not only reasonable for a trend trader, depending on how advanced you are it might be simplistic. Just my thoughts .