Cable Update (GBPUSD)

Yep works pretty well 50% of the time

I would recommend this game next time for a change.
Only there are some consequences after.

More trades, bigger risk of overtrading on every push.
Better to stick with money management.

Thanks for this. Nice to see a good chart of clear direction.

I started to doubt if we are in a bear trend, and wheather to close my trades. Nearly all time frames is pointing up and showing oversold on my charts, except monthly 50/50.

Dxy is same showing the opossite down, except monthly.
Perhaps we will drop in the last days of Nov. Will see.

GBP/USD Short Trade Triggered 1.34400

Always open to new ideas

if you don’t care, you’re the winner
kept pushing it

Candle close quite good. But. We still in decision candle on next day. Price close still on round key area 1.34 below it is goos for more short. Reject also good for buy if price manage to close in or taken the invalidation area

Closed two short, third taken partials which running at BE, added 1 long position

Maybe we see 13476 and down to around 13150

target on5 --- 4th wave still valid

good morning bro , have a good vibes there always

Price action make the mover

Offloaded all shorts at my TP @1.3403

GU

Minimise the damage.

Letting go on price hitting SBR/ Supply zone.



NOTES

When I started trading forex , many years ago, I blow out because trying to hold on to losers.
The winning trades take care of themselves.

I learned over the years to focus on a game plan to exit when I'm wrong, and make sure it is in place when I make my initial trade.

We will get your share of winning trades no matter what method we use to enter the market, but one or two big losing trades will ruin our chances of being around when the big, winning trade comes our way.

And like it or not, losing trades are part of the game, and how you manage them is everything!

My own stop loss/exit point depends on the volatility of the market I am trading. ( that's why I use ATR)

For instance, the GU have contracted their volatility.
I have dropped my loss point to about $200 per contract before I reverse direction.
I am willing to take the chop (market stays in a narrow range) knowing--actually hoping--that every now and then a super-volatile day will come along and that I will be able to ride the wave to the max.

My whole approach is based on this assumption, and actually, so are most day traders' approaches.

Volatility plus ability to ride winners equals profits.
This is true of any market.
A surfer needs to ride the surf.
No surf, no ride.

PAT

2 hours to go for GU rocket launch

grab quick profits

1.34300

exit targets for both trades set 3520 & 3545