Cable Update (GBPUSD)

Morning Everyone! Happy Friday! It's been awhile since I have posted something. Life, work, eating too much, etc. Anyways I want to share a pict indicating our GBP?USD future.... I don't normally do this because I trade in the present, not the past, not the future... But I am thinking at least maybe thru December, the G/U has reached bottom & might be heading back up. Gotta go to work now. Have a good weekend!
This is the Daily Time Frame...

[quote=DubaiFX;13821127]{quote} Well Pound Dropped a little but finally it broke the 1.3240-50 resistance as you can see in charts and also daily close is above the 1.3250 looking at daily and 4H chart if you ask me i am staying with buy on dips, i will Not Sell GBPUSD that is for Sure until something huge happens i am on Buy best thing to do is wait for a drop and then buy and when i buy Pound i sometimes go with Cross pairs also like GBPJPY GBPCAD GBPAUD GBPNZD etc. but to trade cross pairs i first look at 2nd currency and make my analysis for that as well and then i enter in cross pair trades. i didnt want to bore you with details how i choose my pairs i will just be posting my final analysis of my trades. sincerely hope it will help new traders as i learned from Forex Factory in 2007-2008 i hope new traders will learn from my experience. because trading live for 8 years is not easy i did a lot of mistakes and learned from my mistakes and believe me it was not easy i repeated my mistakes many times as well, and finally i learned how to be Patient and Leverage well LEVERAGE IS POISON that is Fact. Yes Leverage can make you more profit but never forget that it can go the other way and give you Big losses as well. Before opening any position always remember that eg: if you are buying Pound with 90% surety that it will go up, some one some where Sold Pound with same confidence that it will go down, its just a matter of time before we know who was right and who was wrong.
anyways i am posting 1H please have a good look and trade on your own risk i trade them but i some times close the trade lets say my target is 60 pips but in small chart if i see a drop coming i close my trade at +20 pips and wait for 10 pips drop and Enter again that way from 1 pair analysis i make 100 or more pips from 3 Trade instead of one because market is always moving up and down so why not take advantage from 5M Chart and make double Pips other then waiting for hours watching for it to hit my 60 pips target, just my opinion. Have a Nice Day guys.

my Buy on Dips Plan worked very well this week.
anytime support came i bought i opened 3 positions on wednesday and it will worked out well.
i hope you guys made greem pips as well. Wish you all a Great Pips and Good Weekend.
i hope my analysis about buying Pound hopefully helped other traders.
thanks.

i Bought at 1.3285 target 1.3310 Final Target 1.3355
wll be looking to buy on Dips.

Just one little bonus scalp for the year, 5xR on NYO

H1 demand from MPC move up to RN

closed all.

Happy with my trades.

May not trade NY session.

Top failure goes 3296. Watching for the start tanking!

...there is potential for 15min bearish hidden div to develop (not there yet) as long as price stays under current dly hi...this versus the 1hr bullish hidden div at current dly lo. Of course there isn't much of a next higher t/f, ie 1hr, downtrend to enter after a pullback should the 15min develop but you could say the same about the 4hr. Take your pick?

EDIT:

... the bulls fell @ 1st hurdle on 1st attempt.

1hr below.

to get higher, we need get over cca 1.3360

Price came right down to my inefficency level.
Long position taken at 1.32885
Low risk used

Yesterday GU long open still

GJ formed Head and shoulders pattern on H1
Now if it holds this 150.4 level its still bullish but break of this level makes my bias bearish. Patiently will see.

Checking usdx smaller tf, price likely go up above 96.30 +before tanking down. Now 96.15 .

SL hit... Thats it for the day did well for the month I am out. Will take next 2 weeks off.
Merry Christmas and Happy new year guys

add buy - 1.3279

...easy pickings for lower t/f supp/res traders today on this pairing. Testing deeper into this prev 4hr/dly sw hi zone = prev res = pot rbs. 50% 3171-3374 @/around the current dly lo, this in a wide prev 1hr sw lo zone =prev supp = pot supp coexistent with the zone mentioned above.

1hr below.

add buy limit - 1.3230

Have a fantastic holiday and
see you in 2022, to continue with new years

Thanks a lot

Bombing in progress

Today is bear day. No hope for bulls. Price couldn't achieve a daily close above 3330. Sorry bulls. You are all fake. I will close my scalp buy in a loss.

Edit: buy closed in loss. Already selling TP 3255. Stupid bulls. After the knee jerk spike yesterday, it is obvious that the Fed is still a million times more hawkish than the BOE and a trillion times more hawkish that ECB. Selling to the bottom until we achieve a daily close above 3330.

Likely may not today /week! Test 3254 /42 down possible before good bounce!

Christmas gift. Santa came early.

...might start to see effects of big institutions m/e and y/e book balancing in the run up next week. liquidity will thin out as well as there will be progressively less participants in the market as next week goes by, but of course even thin liquidity can lead to 'exaggerated' moves, as the commentators call them! We'll see.