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Cable Update (GBPUSD)

  • #590,961
  • Apr 22, 2021 10:29am Apr 22, 2021 10:29am
Quoting HolyPip
Wasnt the dollar expected to be weak? Why is everyone expecting bear?
Expectation and reality do not always align. Welcome to the markets, anything can happen

A less obtuse answer would be, we're currently seeing a US treasury sell off so the dollar is strengthening currently. How long for we'll have to watch and adjust our trading plans accordingly.

I'm in GU buys at ADR. I'm still on the bulls side broadly following the W pattern and channel breakout. For me it qas a question of how far the retrace leg would dip down, hopefully this is it now

If it turns out not to be the case, I have my stops at BE now and will have to adjust my plan yet again after a pretty lacklustre week..
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  • #590,962
  • Apr 22, 2021 10:34am Apr 22, 2021 10:34am
Quoting mysterio
{quote} Expectation and reality do not always align. Welcome to the markets, anything can happen A less obtuse answer would be, we're currently seeing a US treasury sell off so the dollar is strengthening currently. How long for we'll have to watch and adjust our trading plans accordingly.
So it is expected to take a dump at some point and just may not happen for X amount of time?
  • #590,963
  • Apr 22, 2021 10:36am Apr 22, 2021 10:36am
Quoting mysterio
{quote} Expectation and reality do not always align. Welcome to the markets, anything can happen A less obtuse answer would be, we're currently seeing a US treasury sell off so the dollar is strengthening currently. How long for we'll have to watch and adjust our trading plans accordingly. {image}
important chart to look in, probably the most important
want to see if we can get above 1.6 today
1.58 was yesterday high also
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #590,964
  • Apr 22, 2021 10:36am Apr 22, 2021 10:36am
Quoting HBN08
{quote} Hey Sang just a tip from my prespective... Try to find suport or resist levels that you think that are "clean" like equal lows or hihgs withing a range...and try to aim to those lows with the itention that they will get probably broken and price prob will come inside the range that broke again to a key level to continue... dont know if it helps you or if i get the point i wanted to tell you but...good luck buddy keep on going we all on the same boat
Hello HBN08,

thanks for your comment and ideas on Support/Resistant Trade set up for Newbie.

Full disclosure, I'm not the best Newbie in the world. My exits can be sloppy, my entries can be ill-disciplined, I can break my own rules et- cetera .

Sometimes to get perfect set up is difficult (for me). I tried to minimized stupid entry and exit as much possible.

Your analysis is good. Striving to be better , maybe becoming like you one day ; that is healthy.

But for me, so is accepting my own human nature for fallibility and the ever-present uncertainty of trading.

I won't nail every move and, even if I find the perfect entry, price will still occasionally turn around on me as soon as you enter.

We are also involved in a pursuit which involves often being wrong as much as being right, but still being allowed to come out ahead.

It's trading. Gotta love it to do it

Again, your comment has been awesome and I can't thank you enough.
  • #590,965
  • Apr 22, 2021 10:37am Apr 22, 2021 10:37am
Quoting Moty
{quote} 1.38500 atleast {image}
I closed it by that time ..hope you got great pips
My observation may be wrong but intent correct. Stay calm!
  • #590,966
  • Apr 22, 2021 10:39am Apr 22, 2021 10:39am
Quoting mysterio
{quote} Expectation and reality do not always align. Welcome to the markets, anything can happen A less obtuse answer would be, we're currently seeing a US treasury sell off so the dollar is strengthening currently. How long for we'll have to watch and adjust our trading plans accordingly.
I totally agree with your "less obtuse answer". Dollar is currently strengthening , so we'll have to stay tunned to adjust our strategies!
  • #590,967
  • Apr 22, 2021 10:43am Apr 22, 2021 10:43am
Quoting mysterio
{quote} Expectation and reality do not always align. Welcome to the markets, anything can happen A less obtuse answer would be, we're currently seeing a US treasury sell off so the dollar is strengthening currently. How long for we'll have to watch and adjust our trading plans accordingly. I'm in GU buys at ADR. I'm still on the bulls side broadly following the W pattern and channel breakout. For me it qas a question of how far the retrace leg would dip down, hopefully this is it now {image}

Hi mysterio,

Love the analysis and how you are staying pure to trading, not complicating or trying add indicators, etc.

Based on my own journey, you are just working on your precision.

I really enjoy with your obsession with getting "perfect" precision set up and entry.

Your analysis help us with that, but I had to learn that not every chart and every moment is the same.

Therefore, I notice, the more precise you become the less trades you will get. When your entry are superb.

Here is what I would say about your trade.
First and foremost, it was a winner.
Second you capture exceeding 75% of the total "perfect" move you can see
You beat 97% of all traders (especially me).

Keep you chart coming bud, loves to study it.

Sincerely

Sang Real
  • #590,968
  • Apr 22, 2021 10:44am Apr 22, 2021 10:44am
GBPUSD short target met earlier at 1.3850, got out and got in for a counter trade long at 1.3838 with a very tight stop at 1.3835, targeting yesterday’s low at 1.3888 aiming to re-enter short again. Good day so far.
Did you place your stop loss order? Why not?!? Story of my life...
  • #590,969
  • Apr 22, 2021 10:53am Apr 22, 2021 10:53am
i had this from a week ago
and it will be in this 2 place on 23April
down or high
but i think will be on high because of tomorrow news in Euro Area
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  • #590,970
  • Apr 22, 2021 10:54am Apr 22, 2021 10:54am
Quoting coyoteuglyxxx
GBPUSD short target met earlier at 1.3850, got out and got in for a counter trade long at 1.3838 with a very tight stop at 1.3835, targeting yesterday’s low at 1.3888 aiming to re-enter short again. Good day so far.
Coyote you smell nice tonight. Come with me
  • #590,971
  • Apr 22, 2021 10:55am Apr 22, 2021 10:55am
Quoting littspaniard
long {image}
stop at even and set profit
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The only constant is change
  • #590,972
  • Apr 22, 2021 11:04am Apr 22, 2021 11:04am
Quoting TrTT
{quote} Coyote you smell nice tonight. Come with me
Only if we get back to 1.3888 to enter short again. This long counter is making me a bit nervous, but I did it regardless… wtf lol
Did you place your stop loss order? Why not?!? Story of my life...
  • #590,973
  • Apr 22, 2021 11:07am Apr 22, 2021 11:07am
Quoting Sang.Real
{quote} Hello HBN08, thanks for your comment and ideas on Support/Resistant Trade set up for Newbie. Full disclosure, I'm not the best Newbie in the world. My exits can be sloppy, my entries can be ill-disciplined, I can break my own rules et- cetera . Sometimes to get perfect set up is difficult (for me). I tried to minimized stupid entry and exit as much possible. Your analysis is good. Striving to be better , maybe becoming like you one day ; that is healthy. But for me, so is accepting my own human nature for fallibility and the ever-present...
Brother im in the grind with you im a newbie to only been trading for 1 year ( studuying hard everyday) im still ill-disciplined like you , i break my own rules to , and as you can see in the forum today my entries were sloppy and im still in drawdown but holding for objetive ( psicologic is key too) unless sl hits.
1 year and i think that you must be you in trading literelly be you , dont think that only one thing works, find what attracts you ( strategy , pure Pa , anything) and embrace it until it gets boring...
Gota catch that point you said " We are also involved in a pursuit which involves often being wrong as much as being right, but still being allowed to come out ahead."
I think we must ignore the thing that we must get right...Money manegemt is key ( something i sure have to master)
overall brother im a newbie too just trying to help someone who is in the same boat

Green pips
  • #590,974
  • Apr 22, 2021 11:08am Apr 22, 2021 11:08am
pound bulls you might wanna check GC for longs. that said, i remain bearish at least till there (as per my analysis on previous posts )
https://www.forexfactory.com/thread/...6#post13503276
https://www.forexfactory.com/thread/...3#post13504933

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Quoting Sang.Real
{quote}l
hey mate, i saw you bought at some point. only because you have said you trade market structure, that long trade you took was not a market structure trade, based on market structure it was a gamble. based on any other strategy it might have been a good trade i dont know. if u need explaination, please post the structure you saw and i will explain why it was wrong

all the best
offering my system to copy trade. check my link
  • #590,975
  • Apr 22, 2021 11:16am Apr 22, 2021 11:16am
Quoting Nordling00
UK Inflation rates came no different than the consensus. It wasn't lower as i wanted to be. I took my profits. 170+ pips. Not bad
I took my profits from my buy position yesterday morning due to the high UK inflation data. As i expected, it never moved upside after i left. USD and GBP seems no different than each other. So it's normal for it to fall. Next important thing to watch is US Growth data. Until that, i will wait and won't take any GBP/USD positions.

And for now, I am on EUR/GBP long position and already making profits.

We have JPY Inflation news incoming, if that comes low i will be shorting GBP/JPY
You have to have an IQ higher than 90 to interact with this user.
  • #590,976
  • Apr 22, 2021 11:35am Apr 22, 2021 11:35am
Quoting Nordling00
{quote} I took my profits from my buy position yesterday morning due to the high UK inflation data. As i expected, it never moved upside after i left. USD and GBP seems no different than each other. So it's normal for it to fall. Next important thing to watch is US Growth data. Until that, i will wait and won't take any GBP/USD positions. And for now, I am on EUR/GBP long position and already making profits. We have JPY Inflation news incoming, if that comes low i will be shorting GBP/JPY
This inflation rate is low ,also lower than forecast.
Low CPI is bearish ,proves the point since cable fell ,maybe it went up on anticipation of a high CPI number more like
just saying
But everything is very skewed right now ,when factoring the virus interventions.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #590,977
  • Apr 22, 2021 11:40am Apr 22, 2021 11:40am
Quoting coyoteuglyxxx
{quote} Only if we get back to 1.3888 to enter short again. This long counter is making me a bit nervous, but I did it regardless… wtf lol
Its 3988 to be precise
  • #590,978
  • Apr 22, 2021 11:41am Apr 22, 2021 11:41am
AAHH correction 3888
  • #590,979
  • Apr 22, 2021 11:41am Apr 22, 2021 11:41am
Oops 3898 HAHA
  • #590,980
  • Apr 22, 2021 11:43am Apr 22, 2021 11:43am
8 at the end
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