Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

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#592,681
May 3, 2021 10:04am May 3, 2021 10:04am

Sang.Real
| Additional Username | Joined Mar 2020 | 1,607 Posts

Quoting mysterio

Disliked

{quote} Can consider closing the remainder of longs up here, cautiously looking for short signals above 1.39 https://www.tradingview.com/x/2S2MpKA4/ Keyword is cautiously, the momentum is UP If it just sails though this zone then I obviously wont bother. In theory the daily demand is much stronger Just to be clear I'd have to see something very obvious in the PA to actually get into a sell

Ignored

I agree with you. Great point there brother, as usual.

A good trading system will keep you in (or out of) the market until there is evidence that the trend has changed.

P/S I think Mr Lee came in thro the back door, nobody saw his presence today.

#592,682
May 3, 2021 10:09am May 3, 2021 10:09am

Bainbrito
Joined Apr 2021 | Status: Trader | 383 Posts

Quoting Sang.Real

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{quote} GU End of Scalping. Disappointed with so many Unfilled Limit Order today. Hardy any significant pullback from Bull. {image}

Ignored

You did well Sang! You followed your plan and that matters most. Very impressed with your discipline.

#592,683
May 3, 2021 10:10am May 3, 2021 10:10am

martinez1
Joined Aug 2011 | Status: Trader | 898 Posts

Now we have had two trending days with 100 pips each in opposite sides am thinking we should be having ranges days next from tomorrow,
so trend traders should be watchful, i might be wrong but trade safe

THE TRUTH IS SIMPLE,ACCEPTING THE SIMPLICITY OF THE TRUTH IS WHAT IS HARD

#592,684
May 3, 2021 10:11am May 3, 2021 10:11am

Theoak
Joined Apr 2019 | Status: Trader | 5,796 Posts

Quoting Sang.Real

Disliked

{quote} I agree with you. Great point there brother, as usual. A good trading system will keep you in (or out of) the market until there is evidence that the trend has changed. P/S I think Mr Lee came in thro the back door, nobody saw his presence today.

Ignored

I spotted Mr LEE!!!!

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Don't trade what you think. Just what you see!!!

#592,685
May 3, 2021 10:11am May 3, 2021 10:11am

nAVIN2007
Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts

we have a situation where the weekly has not broken the low of the previous as its a massive support. The monthly is attack the previous high. The interesting thing is the swing from low to high bounced at 50% approx..we could be looking at an ABCD formation in play?

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#592,686
May 3, 2021 10:16am May 3, 2021 10:16am

Moty
Joined Dec 2017 | Status: Trader | 30,688 Posts

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yes yes yes

#592,687
May 3, 2021 10:23am May 3, 2021 10:23am

makati
| Joined Nov 2013 | Status: Trader | 125 Posts

Lost steam, going down now?

#592,688
May 3, 2021 10:23am May 3, 2021 10:23am

BeeTogether
Joined Oct 2020 | Status: Trader | 14,051 Posts

Quite an exceptional rise today and that on a bank holiday. Was expecting a drop below. 138 today which seems to be support levels. Not sure where the bulls will runout of steam. Back to the 4h chart I think

Insane in the Brain..

#592,689
May 3, 2021 10:26am May 3, 2021 10:26am

dele5000
| Joined Mar 2018 | Status: Trader | 682 Posts

Quoting martinez1

Disliked

Now we have had two trending days with 100 pips each in opposite sides am thinking we should be having ranges days next from tomorrow, so trend traders should be watchful, i might be wrong but trade safe

Ignored

Great insight, there's high probability of the range 1.3800-1.3950 for a couple of weeks

#592,690
May 3, 2021 10:53am May 3, 2021 10:53am

littspaniard
Joined Mar 2011 | Status: moving | 3,642 Posts

Quoting littspaniard

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hi, just short at 1.3921 touch trade at resistance area..sl around 20 pips

Ignored

move stop at even

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The only constant is change

#592,691
Edited 11:16am May 3, 2021 11:03am | Edited 11:16am

babayaga
Joined Aug 2010 | Status: Trader | 5,461 Posts

sell cable & gj
scalping gold ( for 7 pips ) ( min profit that allowed through "depth of market"for gold by my broker ) sell&buy

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dolce vita

#592,692
May 3, 2021 11:07am May 3, 2021 11:07am

Moty
Joined Dec 2017 | Status: Trader | 30,688 Posts

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yes yes yes

#592,693
Edited 11:26am May 3, 2021 11:13am | Edited 11:26am

littspaniard
Joined Mar 2011 | Status: moving | 3,642 Posts

Quoting littspaniard

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{quote} move stop at even {image}

Ignored

close manually with profit..14 pips

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The only constant is change

#592,694
May 3, 2021 11:20am May 3, 2021 11:20am

babayaga
Joined Aug 2010 | Status: Trader | 5,461 Posts

if she will not pass 1.39 down.., rests forever "up"

dolce vita

#592,695
May 3, 2021 11:26am May 3, 2021 11:26am

martinez1
Joined Aug 2011 | Status: Trader | 898 Posts

Quoting dele5000

Disliked

{quote} Great insight, there's high probability of the range 1.3800-1.3950 for a couple of weeks

Ignored

Yes, Range is coming

THE TRUTH IS SIMPLE,ACCEPTING THE SIMPLICITY OF THE TRUTH IS WHAT IS HARD

#592,696
May 3, 2021 11:30am May 3, 2021 11:30am

Wavegarrick
Joined Sep 2017 | Status: Trader | 4,364 Posts

Quoting Wavegarrick

Disliked

{quote} Okie Dokey Folks. First, sell trade at 1.38566 with a 25 pip s/loss, Will look to add more trade towards my weekly pivot at 1.38662. Cheers. {image}

Ignored

Hi Guys,
Price action has been more than I can fathom for a Monday and more so a bank holiday. I had my sell trade taken out for 25 pips, I have one buy trade which is serving me well. I have added more sell trades. All locked in. We are above 1.39000 and I would like to think that this upmove is with thin liquidity and we can get back below for my cyclic down move, 1.39000 is crux now.
Trade safe,
Cheers.

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Trade to trade another day

#592,697
May 3, 2021 11:38am May 3, 2021 11:38am

martinez1
Joined Aug 2011 | Status: Trader | 898 Posts

Yes, i think Range is coming and very bad one and i guess a lot of traders here are not prepared, they will come with the mind of letting their profits run in all their trades only but only to be disappointed, the longer it ranges the more they will keep believing that the range is over or should be and they will try to let profits run
so they can catch a big move and will end up giving back their profits to the market, all the made during the last trending period.
This event of giving back all they made will leave some bitter, some will loose their mental clarity, some will change their trading system, some will stop trading for
a while and end up missing the move and by the time they might have come back to trading they will be meeting another ranging period. Lol

Let me not bore you with my experience.........

THE TRUTH IS SIMPLE,ACCEPTING THE SIMPLICITY OF THE TRUTH IS WHAT IS HARD

#592,698
May 3, 2021 11:45am May 3, 2021 11:45am

mysterio
Joined Sep 2009 | Status: Trader | 6,009 Posts

Quoting Sang.Real

Disliked

{quote} I agree with you. Great point there brother, as usual. A good trading system will keep you in (or out of) the market until there is evidence that the trend has changed. P/S I think Mr Lee came in thro the back door, nobody saw his presence today.

Ignored

Yea i've been through that phase of trying to fade a market showing strong momentum, will get you burned more often than not. I prefer to think of it as hypothesis-confirmation-pullback-trade in that order. So have levels where you expect something to happen, wait for it to actually happen, then wait for a pullback then trade it.

This morning was a simple 5m channel breakout for confirmation on levels I was watching

Now we can think about shorts as the zone does seem to be holding more or less, we have a couple of TL breaks we can use, first one was on ADR, next one there is some hidden bullish divergence, not really keen on entering anything at this time of day though

https://www.tradingview.com/x/zzGn18US/

Great trades btw keep up the good work man

#592,699
May 3, 2021 12:08pm May 3, 2021 12:08pm