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Cable Update (GBPUSD)

  • #588,521
  • Edited 6:31am Apr 8, 2021 2:31am | Edited 6:31am
moved up my long SL at BE, since a potential scalp Sell below 3731 has formed on my end. iF not hit, moving down my Buy stop some more at 37453. A moment of tension is forming. Getting ready to react.
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #588,522
  • Apr 8, 2021 2:43am Apr 8, 2021 2:43am
GU - 4H
Attached Image (click to enlarge)
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GU - 1H
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Any idea from this Chart guys?
  • #588,523
  • Apr 8, 2021 2:58am Apr 8, 2021 2:58am
Quoting mysterio
{quote} You need to milk trades as much as you can IMO as long as you do it in a smart way. You need to make enough to cushion losses and drawdowns. If you just TP'd every time a trade jumped in your favour slightly you'd probably lose in the long run. We tapped into 1h demand here so 1.3705-1.3720. Not a bad place to lock in some partials
Hello sir, I have a sell trade run from 3758 now
Should I cut the profit or should I let it run?
My previous TP was 3702 when I saw it break 3725

Mind to share your view sir?
Thanks in advance
  • #588,524
  • Apr 8, 2021 2:59am Apr 8, 2021 2:59am
[quote=gatenio;13486265]{quote} agree, i thought it will go there before.

like I was expected yesterday from gold to go for 1750th..,

dolce vita
  • #588,525
  • Apr 8, 2021 3:06am Apr 8, 2021 3:06am
Quoting Katanashino
{quote} Hello sir, I have a sell trade run from 3758 now Should I cut the profit or should I let it run? My previous TP was 3702 when I saw it break 3725 Mind to share your view sir? Thanks in advance
I believe we have further to go down today, I personally would probably TP and maybe look for a better opportunities higher up though.

Still making LH and LL on shorter TF

I'm focussed on another pair today so please follow your own trading plan and TP if you're uncertain, i'm not in any positions on GU
  • #588,526
  • Apr 8, 2021 3:07am Apr 8, 2021 3:07am
Bounce back from 13726
Attached Image (click to enlarge)
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Insane in the Brain..
  • #588,527
  • Apr 8, 2021 3:08am Apr 8, 2021 3:08am
Quoting mysterio
{quote} I believe we have further to go down today, I personally would probably TP and maybe look for a better opportunities higher up though. Still making LH and LL on shorter TF I'm focussed on another pair today so please follow your own trading plan and TP if you're uncertain, i'm not in any positions on GU
you trading on EU?
Insane in the Brain..
  • #588,528
  • Apr 8, 2021 3:09am Apr 8, 2021 3:09am
Quoting mysterio
{quote} I believe we have further to go down today, I personally would probably TP and maybe look for a better opportunities higher up though. Still making LH and LL on shorter TF I'm focussed on another pair today so please follow your own trading plan and TP if you're uncertain, i'm not in any positions on GU
Thank you
  • #588,529
  • Apr 8, 2021 3:10am Apr 8, 2021 3:10am
Quoting BeeTogether
{quote} you trading on EU?
Yea I got in short at the top of that stop hunt at LO
  • #588,530
  • Apr 8, 2021 3:11am Apr 8, 2021 3:11am
bagged 15..16..
now lurking for more..
short ?
long ?
i think i take a bath first..
Trade with prediction = witch with her visions lol
  • #588,531
  • Apr 8, 2021 3:20am Apr 8, 2021 3:20am
Who is supporting?
Who is resisting?
Who is demanding?
Who is supplying?
Who is bear?
Who is bull?
Who can answer this? LOL
  • #588,532
  • Apr 8, 2021 3:20am Apr 8, 2021 3:20am
Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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yes yes yes
  • #588,533
  • Apr 8, 2021 3:20am Apr 8, 2021 3:20am
Quoting Ihlas
Enjoy!!! Here is PA {image}
hey can u explain why you think price will go so high now ? for me to learn , thanks!
  • #588,534
  • Apr 8, 2021 3:25am Apr 8, 2021 3:25am
I'll state a simple lesson for all traders to learn from as many still repeating same mistakes resulting in loosing lot of money!

When I said 1.3720s monthly support, you never go selling there before the level was even breached nor based below, doing so is stupid trading and lack of basic trading knowledge.

Also, a wiser strategy than waiting for a break then base below is by never attacking a support from the same level of support but attacking it by placing sells way above it.

In GU case, you had lot of opportunities to do so at 1.3840s and price even reached 1.3918, yesterday and today after price hit 1.3720s it retraced twice and today too to 1.3780s, that's another sell better location to attack 1.3720s
At worst case, if the support keep holding you go BE at 1.3780s and use trailing stop with good profit if sold like at 1.3840s or above.

Even if 1.3720s get broken later, still you never attack a support from its price level, same applies to resistance.

I hope this lesson can be not just memorized but applied always for your sake and anyone you love!
My technical analysis leading trades depend on Daily/Weekly/Monthly Chart
  • #588,535
  • Apr 8, 2021 3:26am Apr 8, 2021 3:26am
Quoting Ziemowit
{quote} hey can u explain why you think price will go so high now ? for me to learn , thanks!
i would rather wait until 1.36840 and go long.
Secrets to success. It is the result of hard work, & learning from failure
  • #588,536
  • Edited 3:48am Apr 8, 2021 3:27am | Edited 3:48am
Quoting Ziemowit
{quote} hey can u explain why you think price will go so high now ? for me to learn , thanks!

This is price, it goes where it should go and we should go down too. This is my analysis. When I say my analysis, I don't mean I don't want to give it to somebody. If you have your own plan, stick to it.
The price will go there to make the equation a=b
Stick to your plan
  • #588,537
  • Apr 8, 2021 3:27am Apr 8, 2021 3:27am
[quote=babayaga;13486510]
Quoting gatenio
{quote} agree, i thought it will go there before. like I was expected yesterday from gold to go for 1750th..,
gold is a shit!
i can't figure out what is the structure since the double bottom, so i just monitoring it.
lost 1000 dollars tying to short it
  • #588,538
  • Apr 8, 2021 3:28am Apr 8, 2021 3:28am
Quoting ChiForex
I'll state a simple lesson for all traders to learn from as many still repeating same mistakes resulting in loosing lot of money! When I said 1.3720s monthly support, you never go selling there before the level was even breached nor based below, doing so is stupid trading and lack of basic trading knowledge. Also, a wiser strategy than waiting for a break then base below is by never attacking a support from the same level of support but attacking it by placing sells way above it. In GU case, you had lot of opportunities to do so at 1.3840s and price...

This is not about about support in my case
  • #588,539
  • Apr 8, 2021 3:29am Apr 8, 2021 3:29am
hi guys im new to this, in your humble opinion where would it most likely raise to? (:
  • #588,540
  • Apr 8, 2021 3:32am Apr 8, 2021 3:32am
Quoting ChiForex
I'll state a simple lesson for all traders to learn from as many still repeating same mistakes resulting in loosing lot of money! When I said 1.3720s monthly support, you never go selling there before the level was even breached nor based below, doing so is stupid trading and lack of basic trading knowledge. Also, a wiser strategy than waiting for a break then base below is by never attacking a support from the same level of support but attacking it by placing sells way above it. In GU case, you had lot of opportunities to do so at 1.3840s and price...
Well said

It's a bit too low for me to do anything today so staying out. Also not fancying a buy.
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