Cable Update (GBPUSD)

What if the GU Sells would it be rather new for buyers? Maybe sellers should allow it come to them than taking it to the center stage. 1.3867/1.3932 no much movement in my view.

Knowing the logical support/resistant level is very much important on trend based trading! Till now I am following the market trends; besides I willingly to use clean ranges!

Newtons' third law "For every action, there must be a re-action, opposite in direction and equal in magnitude."

There is always pullbacks, they just differ in magnitude and in the time period.

Strong moves like the one which ended by the end of last week suggests a stronger pullback and a longer one in time frame.

Yes, long positions that are moving up can pull back after hitting resistance, while short positions that are moving down can pull back after hitting support.

Additionally, pullbacks in either direction can occur when there is no apparent support/resistance because of profit taking which causes a pullback of an uptrend, and buying at a perceived low price which causes a pullback of a downtrend.

The pullbacks mentioned in the previous paragraph, whether caused by a spurt of buying or selling, "create" a point for support/resistance.

Traders expect these points to be respected in the future, so they become a self-fulfilling prophecy.

If you are already successful, you wouldn't want to change a thing. But if you aren't, you might want to examine your system to see if there is an adjustment you can make that increases your winning percentage by lowering the number of trades taken.

Then think of how you would adjust that factor to produce the winning percentage you need.

If you see no such factor in your trading system, perhaps you need to look at the mechanics of the system more closely to find such a factor.

If no such factor exists, unless the system is profitable as it is, I'm not sure it can be made to be profitable.

My 2 cents newbie view on Pullback SNR.

Hope for you, im done for today, overtrade on monday lead to trouble

Let it come to you. Do not force it

Hola. Im in long. From adr low. Its time to sleep. Let it overnight today.
Let the price waving

buy for cable & sell for gold
let's see

In my opinion Gold is about to shoot to the north. We will see...

Think nothing to sell

probably you right

I think before 1790th and maybe higher
1760th ( and maybe lower ) need to be

let's see

I wish for kind of scenario

AUssi determine the direction

back in the money

some longs in progress
target
- 1.40
- 1.4160-80

Loving the bullish bias here...so staying short.

close long position at 1.3906 and wait for pullback for re entering long

it's all a question of the timeframe
Max 1.4160-80 for DOWN!!!!