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Cable Update (GBPUSD)

  • #589,881
  • Apr 16, 2021 8:28am Apr 16, 2021 8:28am
Quoting Sang.Real
Trade process. No trade taken Just to analyze price set up and structure Using Support & Resistant Strategy. Any comment are welcome for educational purposes. Thank you Sang Real {image}
Expecting a bounce at around 1.3766 as well which is approx. 50% retracement of the move up from this morning.
  • #589,882
  • Apr 16, 2021 8:32am Apr 16, 2021 8:32am
Quoting JillyB
Yesterday evening, I was getting slightly worried. My trading strategy had loaded up with 'buy' trades - so much so, that I was checking my margin. However today my worries have been put aside. The majority of the trades have already come in and I am happy with the result. The moral of this is - once you have a strategy that works, then trust it - don't let your emotions (where you think the markets will go) make you mess with it. Emotions are the downfall of a good trader!

Hi Jilly B

Happy for you, the trades works our well.

"Show me the money".... Ha ha ha

Anyway, the only way to observe what we all are looking for is by your own eyes.

We don't need futures data or an indicator to tell you what you can see on your chart.

The price moves in waves.

It is uptrend if it makes higher highs with higher lows.

It is downtrend if it makes lower lows with lower highs.

The steeper the movement with shallower corrections, the stronger the trend.
(yesterday was a shallow correction)

You don't have to know anything else. Everything else is just noise, distraction.

It has psychological reason.

Well done and congrat.

Look forward for many more of your contribution in this thread to help Newbie (especially me)

regards

Sang Real
  • #589,883
  • Apr 16, 2021 8:34am Apr 16, 2021 8:34am
Here my thoughts for all to benefit...
Already mentioned yesterday 1.3810s. Can add around 1.3830 on daily if market want an extension, while on weekly around 1.3850s is an important level on medium term. A close above can turn the pair bullish.
On downside, on weekly initial support at 1.3770-80s that can turn resistance if price bases below at day/week end.

Overall, as said in past posts, GU moving nicely on wide pips range btw resistance/support respecting trendlines.
This will stay the case until weekly base above 1.3800 or below 1.3700 happen.

This is why am not bothering playing in the middle!
My technical analysis leading trades depend on Daily/Weekly/Monthly Chart
  • #589,884
  • Apr 16, 2021 8:36am Apr 16, 2021 8:36am
Attached Image (click to enlarge)
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yes yes yes
  • #589,885
  • Apr 16, 2021 8:41am Apr 16, 2021 8:41am
maybe a bit higher, I'm looking for short
Attached Image (click to enlarge)
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  • #589,886
  • Apr 16, 2021 8:47am Apr 16, 2021 8:47am
Quoting ChiForex
By the way, to "Sangreal" and all others, no need to enter many orders at different levels, just stick to a good one like my said 1.3710s today and ride the move...you might add one position more if you know what you're doing, but entering many positions as martingale can have negative effect on managing all orders to exit later. Who does that is clearly not sure of their trading strategy.

ChiForex Sir,

Couldn't have said it better myself

I see Forex as a way to better myself.

It's more of understanding self than anything else in a way.

Patience, being calm and cool, doing the best I can, being ready to make mistakes and correct myself without judgement, the values that are good, these are the keys to unlocking great potential in Forex. This is what I'm learning from you.

Since I have started Forex, I have found the development of these values or believes helps make good decisions.

With your help in guiding Newbie to the correct path is commendable, if not we going to path of doomed.

Certainly I need to have a good technical/fundamental/sentimental understanding as well but I would say that's less than 50% of being a successful Forex trader.

These are no secrets.. to be successful in anything, the requirements seems to be pretty much the same.

And not to forget , have a good Mentor

Thanks Chi Forex.

Sincerely

Sang Real
  • #589,887
  • Apr 16, 2021 8:49am Apr 16, 2021 8:49am
Quoting Moty
{image}{image}
If it does drop, I can't see it dropping below 1.3750 today. But you never know, it is Friday after all.
  • #589,888
  • Apr 16, 2021 8:56am Apr 16, 2021 8:56am
Quoting ia1979
{quote} If it does drop, I can't see it dropping below 1.3750 today. But you never know, it is Friday after all.
IF it spiked 100 pips up from the bottom of that massive drop candle , anything is possible
Attached Image (click to enlarge)
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yes yes yes
  • #589,889
  • Apr 16, 2021 9:01am Apr 16, 2021 9:01am
Quoting Sang.Real
{quote} ChiForex Sir, Couldn't have said it better myself I see Forex as a way to better myself. It's more of understanding self than anything else in a way. Patience, being calm and cool, doing the best I can, being ready to make mistakes and correct myself without judgement, the values that are good, these are the keys to unlocking great potential in Forex. This is what I'm learning from you. Since I have started Forex, I have found the development of these values or believes helps make good decisions. With your help in guiding Newbie to the correct...

  • #589,890
  • Apr 16, 2021 9:22am Apr 16, 2021 9:22am
RBR forming base at 1.3800 price moving to next cliff. We can see buyer at 1.3800 if price ever pullback
"Buy Cheap and Sell Expensive , Its Market Anyways where People Get profit"
  • #589,891
  • Apr 16, 2021 9:29am Apr 16, 2021 9:29am
Quoting Sang.Real
{quote} Hi Jilly B Happy for you, the trades works our well. "Show me the money".... Ha ha ha Anyway, the only way to observe what we all are looking for is by your own eyes. We don't need futures data or an indicator to tell you what you can see on your chart. The price moves in waves. It is uptrend if it makes higher highs with higher lows. It is downtrend if it makes lower lows with lower highs. The steeper the movement with shallower corrections, the stronger the trend. (yesterday was a shallow correction) You don't have to know anything else....
Show me the money.... Happy to.... All the trades closed today are 'buy' trades. The trades are small, as is the account (never trade with scared money, as the saying goes), but it is increasing well.
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  • #589,892
  • Apr 16, 2021 9:36am Apr 16, 2021 9:36am
Move isn't over..... I see no drop today. Monday will tell
Attached Image
#Stay blue. /swinger/scalper/
  • #589,893
  • Apr 16, 2021 9:40am Apr 16, 2021 9:40am
GU

No trade taken, just analyze and mapping exercise.

ABC

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  • #589,894
  • Apr 16, 2021 9:48am Apr 16, 2021 9:48am
Quoting Sang.Real
GU No trade taken, just analyze and mapping exercise. ABC {image}
looks about right however I think we might go nearer to 13850 first
Insane in the Brain..
  • #589,895
  • Apr 16, 2021 9:58am Apr 16, 2021 9:58am
https://www.mql5.com/en/charts/13786...-group-limited
  • #589,896
  • Apr 16, 2021 10:15am Apr 16, 2021 10:15am
GBPUSD has tentatively risen this week from a low of 1.376, which I think is a consolidation pattern after the steep rise since September. Logic would say at some point the climb may resume. In the meantime, I still favour longs, with the trend, and would hope to see 1.40 at some point in the next week. This will depend on Covid, and the vaccine roll out in the US and UK, both countries are world leaders in vaccinating, and the UK supposedly achieved herd immunity this week.
  • #589,897
  • Apr 16, 2021 10:19am Apr 16, 2021 10:19am
Sell sell sell nowww now
  • #589,898
  • Apr 16, 2021 10:29am Apr 16, 2021 10:29am
Quoting Pip-Prophet
Looking short till 1.3730 then will be watching it’s reaction as that’s where a key 4hr pool will be cleared with a confluence right near the bottom of the daily ADR. With that being so expect it to be a key reaction zone, it will either reject and continue its bullish movement or fall through to at least 1.3694 where the next pool would begin. -Prophet
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Closed my short position at 1.3730, just like I said before at the end of that 4hr pool it would be a key reaction. Once it began wicking on a smaller timeframe showing signs of reversal I entered long with a 25pip SL and my first TP at 100pips with the possibility of swinging this trade up for a nice pay day.
-Prophet
  • #589,899
  • Apr 16, 2021 10:33am Apr 16, 2021 10:33am
Quoting Nd10
1.391 to 1.4 in the making
Quoting Nd10
Sell sell sell nowww now
  • #589,900
  • Apr 16, 2021 10:39am Apr 16, 2021 10:39am
Quoting Nd10
Sell sell sell nowww now
In order for us to believe you need to hit that sell button 3x with 10 lots each.
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