Cable Update (GBPUSD)

Best answer so far !!

I am buying for retail sales news.

Will assess stop that time.

to me 3788 is unlikely to break.

LONG and SHORT 1.3800 tp +2 pips each way no sl

LONG closed + 2pips

both and more but the list is endless

SHORT closed + 2 pipis

the richest man in Babylon

Unfortunately playing catch up "I will win not immediately but definitely"

..any buyers lurking at the current lo?

GU

Target 1.3777 or 1.37634
Price Action is the key on M30

cable train has left station into new low dailys unstabe territory, potential for daily to bounce, looking elsewhere for trade.. gold to sell 1795 - 1796

closed 1.3790 + 40 pipaloonies

At the moment I am sitting on a fence. I believe there will be a period of consolidation before potential upswing. Do not want to take part of a barrel roll where stops are pounded left and right.

Bravo. !!

...New lo, - for reasons I stated earlier, down to 3766 is the immediate obstacle for the bears now....could see demand emerge anywhere down to 3766?

SL triggered with a LOSS.

Ok let me attempt to answer.........
You see, when buyers are making money, sellers can't and while sellers are making money, buyers can't.

Using the basic definition of a trend you can find trend in 1min, 5min, 15min, 1hr and other time frames, then it depend on you to find the one you can manage effectively.

Since yesterday on the hindsight using trend definition of impulse and correction on a 5 min chart, I only detect two perfect sellers entry and the third one which starts at around 1.38100 is currently running.

So while this sellers are making money buyers can't no matter what you try.........
Now using the same trend definition on 1hr chart, there is an impulse that runs from 1.37930 to 1.38720 area and wherever you buy during correction is good until the impulse is validated.

It's always very important to know where you are on a trend

Personally, I find it hard to tell one what to do exactly because there is more than 50% chances that what I'm looking at on charts is different from his.

And selling or buying is out of our conviction resulting from technical or fundamental analysis..

So finally, there is no rule that says that your analysis must be correct but if you are convinced that the price will go up or down, find your entry point with whatever you 7se and go for it. If you are not very sure, risk 0.5% instead of your normal 1%.

I don't even know if I'm making any sense but whatever happy trading mate..

I've CLOSED these positions at a loss, as it appears BULLs are losing 1.38 with each dip.
I've also repositioned for a SELL setup with the formation of a BEARish block. SL is just above 1.3800.

I'll tolerate this one test or the low but if we start breaking down i'll try to get out of long with as little damage as possible. Remaining in the position for now.