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Cable Update (GBPUSD)

  • #588,621
  • Apr 8, 2021 10:50am Apr 8, 2021 10:50am
Cable is failing to continue downtrend!
Closed all shorts before Powel speech.
Ready for go long
Trade to enjoy... Money is after!
  • #588,622
  • Apr 8, 2021 10:50am Apr 8, 2021 10:50am
Little loss changed my plan as per m5 needle 1.37224 buy need to cross my vertical line top m5 but volume is very less
  • #588,623
  • Apr 8, 2021 10:57am Apr 8, 2021 10:57am
Quoting mtako
{quote} Placing stops on all longs at BE, range trading time confirmed ! will renter accordingly

Any other range traders happy ?!!!!
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #588,624
  • Apr 8, 2021 11:03am Apr 8, 2021 11:03am
Quoting ChiForex
GU to yesterday later hours resistance 1.3790s then possibly to weekly resistance around 1.3820
Expecting a move up by tomorrow as monthly support 1.3720s still holding and weekly candle very bearish, would look weird to close lower like 1.3660-80s, that's way better than my expectations, although the pair on downtrend, but for now retrace the more expected option, then next week can make the final retrace before testing support again and more possibly breaking it than this week.
My technical analysis leading trades depend on Daily/Weekly/Monthly Chart
  • #588,625
  • Apr 8, 2021 11:15am Apr 8, 2021 11:15am
Quoting Sang.Real
{quote} Hi Waveskierrob, Newbie question here. Do you hedge or place stop loss order to make sure when markets turn you are protected from having multiple positions and risking more then you thought? Thanks & Regards Sang Real
Small TP 1 to 3 pips no SL then keep hedging with the losing position, some trades go on for days so patience is a must, there is more to it but I think you get the general gist of it
  • #588,626
  • Apr 8, 2021 11:25am Apr 8, 2021 11:25am
Quoting ChiForex
{quote} Expecting a move up by tomorrow as monthly support 1.3720s still holding and weekly candle very bearish, would look weird to close lower like 1.3660-80s, that's way better than my expectations, although the pair on downtrend, but for now retrace the more expected option, then next week can make the final retrace before testing support again and more possibly breaking it than this week.
The maximum of retrace is 1.3880-1.39, normal can consider sell limit at this point or somewhere at 1.3850-1.3860
  • #588,627
  • Apr 8, 2021 11:32am Apr 8, 2021 11:32am
Quoting Waveskierrob
{quote} Small TP 1 to 3 pips no SL then keep hedging with the losing position, some trades go on for days so patience is a must, there is more to it but I think you get the general gist of it


Hi Waveskierrob

Thanks for your patient and time+effort in responding to Newbie question.

Learning and feeling more comfortable with this forums as I've notice that you're a better listener, a more patient and confident trader, plus always stay cool.

I appreciate your time and hope others do/will as well.

May all the green pips with you.

Sincerely

Sang Real
  • #588,628
  • Apr 8, 2021 11:32am Apr 8, 2021 11:32am
Quoting pipfarm
120 lots - 51 k profit so far today, should i take it or wait for more? {image}

200 pips on GBPNZD so far 169k

and now this one 47 pips 94k so far on this one GBPCAD (as i was writing just hit 100k)

Cable will probably break 3700 later before a retest and down to 3564 which is the daily main structure low

Attached Image (click to enlarge)
Click to Enlarge Name: GBPCAD.ecnDaily.png Size: 56 KB
Follow The Markets Structure - Patience and Discipline
  • #588,629
  • Apr 8, 2021 11:36am Apr 8, 2021 11:36am
Quoting pipfarm
{quote} 200 pips on GBPNZD so far 169k and now this one 47 pips 94k so far on this one GBPCAD (as i was writing just hit 100k) Cable will probably break 3700 later before a retest and down to 3564 which is the daily main structure low {image}
The pints are on pipfarm this weekend
  • #588,630
  • Apr 8, 2021 11:45am Apr 8, 2021 11:45am
Quoting pipfarm
{quote} 200 pips on GBPNZD so far 169k and now this one 47 pips 94k so far on this one GBPCAD (as i was writing just hit 100k) Cable will probably break 3700 later before a retest and down to 3564 which is the daily main structure low {image}
Hope your broker is sending you a magnum of champagne
  • #588,631
  • Apr 8, 2021 11:45am Apr 8, 2021 11:45am
Quoting pipfarm
{quote} 200 pips on GBPNZD so far 169k and now this one 47 pips 94k so far on this one GBPCAD (as i was writing just hit 100k) Cable will probably break 3700 later before a retest and down to 3564 which is the daily main structure low {image}

GBPNZD from a technical perspective had hit a weekly structure lower high from the previous weekly downtrend , failed to break it so i assumed with the daily internal structure break (4h) to the south side it is heading for a retest south.

GBPCAD from a a technical perspective there is a five wave corrective pattern on the monthly which looks like it has ended with several lower tops failing to break to the upside and the start of a new swing down which would normally subdivide on the weekly but as we are a still on the first swing down the subdivisions are to be found on the daily with a break of structure and retest and break back down.
Follow The Markets Structure - Patience and Discipline
  • #588,632
  • Apr 8, 2021 11:47am Apr 8, 2021 11:47am
This drop to 137 just not happening easily! Not sure if there was anything useful from the Powell speech but hasn’t had any impact so far
Insane in the Brain..
  • #588,633
  • Apr 8, 2021 11:58am Apr 8, 2021 11:58am
Quoting wanted
{quote} The maximum of retrace is 1.3880-1.39, normal can consider sell limit at this point or somewhere at 1.3850-1.3860
Naaah, too high! Nothing impossible but that move was done, where were u all this week
My technical analysis leading trades depend on Daily/Weekly/Monthly Chart
  • #588,634
  • Apr 8, 2021 12:33pm Apr 8, 2021 12:33pm
Quoting pipfarm
{quote} 200 pips on GBPNZD so far 169k and now this one 47 pips 94k so far on this one GBPCAD (as i was writing just hit 100k) Cable will probably break 3700 later before a retest and down to 3564 which is the daily main structure low {image}
We don't need a pip pint...BIG..Cheers!
My observation may be wrong but intent correct. Stay calm!
  • #588,635
  • Apr 8, 2021 12:35pm Apr 8, 2021 12:35pm
Quoting Wavegarrick
{quote} I took 2 sell trades off my daily pivot today with my trades locked in. EurGbp having a nice run again and every time this happens Gu goes down. I can just imagine if the dollar index turns up, we could have fast acceleration with Gu to the downside. Anyway, probably wishful thinking at the moment. Trade safe. Cheers. {image} {image}
Anyway, folks, I can see that I am starting to piss some individuals off here. When I get dislikes on my posts it makes me think, why am I doing this? I will be more discretionary in the future.

Cheers.
Trade to trade another day
  • #588,636
  • Apr 8, 2021 12:39pm Apr 8, 2021 12:39pm
Quoting Wavegarrick
{quote} Anyway, folks, I can see that I am starting to piss some individuals off here. When I get dislikes on my posts it makes me think, why am I doing this? I will be more discretionary in the future. Cheers.
You get so many more likes brother! Appreciate you!
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #588,637
  • Apr 8, 2021 12:49pm Apr 8, 2021 12:49pm
Quoting Wavegarrick
{quote} Anyway, folks, I can see that I am starting to piss some individuals off here. When I get dislikes on my posts it makes me think, why am I doing this? I will be more discretionary in the future. Cheers.
pls sir you know that more of us love your post and learn from you why just i one and all we paid the price of your knowledge aned your wisdom may god continue to bless you as we learn from you thank you sir
  • #588,638
  • Apr 8, 2021 12:58pm Apr 8, 2021 12:58pm
Quoting Wavegarrick
{quote} Anyway, folks, I can see that I am starting to piss some individuals off here. When I get dislikes on my posts it makes me think, why am I doing this? I will be more discretionary in the future. Cheers.
Your posts for sure give bigger picture as many traders are focused on few pips. Some may do not appreciate as u stick to selling for long time when others just buy and sell and have some profit. Just different style. For me are valuable, as a new trader i find your post as guidances.
Keep going and i wish all experience trader will continue their effort, post charts and thoughts and let others learn!
  • #588,639
  • Apr 8, 2021 1:09pm Apr 8, 2021 1:09pm
Quoting Wavegarrick
{quote} Anyway, folks, I can see that I am starting to piss some individuals off here. When I get dislikes on my posts it makes me think, why am I doing this? I will be more discretionary in the future. Cheers.
Why do you care ?

post what you want even if you have 1k dislike
are you here to post something valuable to your eyes or for the likes ?

you'll have as many haters as lovers
welcome to the social network life
Make money by doing the opposite of Giveachance aka loser
  • #588,640
  • Apr 8, 2021 1:24pm Apr 8, 2021 1:24pm
3720 is a good long...tomorrow should be bullish...with a nice spike towards London fix...for a short. I would love to short 3850-3900 tomorrow...just to piss off the bears a little, since everyone is already short on EU and GU. So give me 2000-2050 on EU and 3850-3900 on GU, thanks!
Everyone can see the chart, but only a few can actually read it.
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