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Cable Update (GBPUSD)

  • #655,321
  • Apr 1, 2022 9:47am Apr 1, 2022 9:47am
Gu > 1.3509


now only buy.
  • #655,322
  • Apr 1, 2022 9:56am Apr 1, 2022 9:56am
Quoting Reverso
It did closed above Purple line, then immediately next candle gives a big bearish candle, I'm glad I havent entered Long yet, it would have already hit my SL as i would place the SL just below the recent low, it is important to wait for confirmation for another bullish continuation candle before going Long, I would want to see a more proper V shaped recovery to have more confidence. Not ruling out the possibility that after this bearish candle it will revisit the dotted line, whether it does this or not doesnt bother me. If it does, go Long, if...
It would be helpful, if you can include the numbers too. just lines, makes it hard to know, which area the line is.
  • #655,323
  • Apr 1, 2022 9:57am Apr 1, 2022 9:57am
With Yearly Pivot on tf D1
Buy Limit 1.3055 , SL = 1.2955, TP = $ 2000

SU
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  • #655,324
  • Apr 1, 2022 10:02am Apr 1, 2022 10:02am
Attached Image (click to enlarge)
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  • #655,325
  • Apr 1, 2022 10:05am Apr 1, 2022 10:05am
Quoting Bulu-Bulu
{quote} This is art. Do minor pullbacks (like the one from 1.31045 to 1.30942, 14:59-15:02) shake you out? When I manage to have great entries like that, I always get scared price is going to reverse and I might lose my profits, so I cut it after a pullback, which greatly diminishes my returns.
I trade very tight stops so I try and manage it with a mental stop. I actually took a half x R loss on this buy and re-entered on what I interpret as a final stop hunt. Usually will set the stop to BE after 8-10 pips. Stop at BE on this. NFP day is always hellish

They never make it easy for scalpers to get in the move. I might be wrong. There's some people advising me against this, I might be locked on an idea that's not holding. I personally will stick with this
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  • #655,326
  • Apr 1, 2022 10:09am Apr 1, 2022 10:09am
Quoting IBabyTrader
{quote} It would be helpful, if you can include the numbers too. just lines, makes it hard to know, which area the line is.
Thanks for pointing out. The chart marked the price level for every trade I taken in the past, so the price level to the most right is cluttered with many price levels which is not readable, I read the price level by controlling my mouse cursor, which is only visible and practical for the user to view, but not screenshot for others to view, the most I can do is to state the price level in my comments.

Price broke below and then now closed above Purple line once again, with vengeance. The Long setup I was talking about seems more likely now, I will only enter after the market give us a close ideally near dotted line of 1.31151 , doesnt need to be precise, near enough would already make it look like a V shape recovery, Stop loss would be 1.31850 , TP up to personal preference, for me it is always fixed 1.5:1.0 R&R ratio, easy to handle.

As of time of writing, the current candle is more on the bearish side again, it's just a waiting game, wait for a close above the level i mentioned above then we get a long setup, else do nothing.

I always use 15 min chart by the way.
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  • #655,327
  • Apr 1, 2022 10:56am Apr 1, 2022 10:56am
The bobble bo failed and the 50 day sma acted as resisistance. It is oversold with a doji/hammer signal forming and extended from tline ...a bounce may be coming.
  • #655,328
  • Apr 1, 2022 11:20am Apr 1, 2022 11:20am
Very weak NFP day... tempted to cut and run. Anyone still long ? Whats the action here
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  • #655,329
  • Apr 1, 2022 11:33am Apr 1, 2022 11:33am
Hoping we get a bull flag here and it finally takes off
  • #655,330
  • Apr 1, 2022 11:34am Apr 1, 2022 11:34am
Quoting mysterio
Very weak NFP day... tempted to cut and run. Anyone still long ? Whats the action here {image}
Still in
  • #655,331
  • Apr 1, 2022 11:39am Apr 1, 2022 11:39am
Quoting mysterio
{quote} ready to cut-- not sure on the PA. might buy lower. lets see Edit-- I cut it. Need a spring on M1. lets see, i wanna buy lower Edit-- trying lower {image}
At week's and month's end combined, bulls can no longer charge but only buck. Just look at the choppy 4 hourly candle wicks from yesterday.
I see Beasts. I drop my scalpel and beckon to theatre nurse: "Charts!&
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  • #655,332
  • Apr 1, 2022 11:44am Apr 1, 2022 11:44am
See my post above.
  • #655,333
  • Apr 1, 2022 12:32pm Apr 1, 2022 12:32pm
Quoting Reverso
{quote} Thanks for the welcoming, definitely not new to the forex world nor to this forum, has been a lurker but decided to create an account to post my thoughts after transitioning from my regular job to full time trading, high time i make the switch to get out of the rat race I assume the "blocks" you meant are the ones with green and red shade (box/block shape), green is TP and red is SL. If you're talking about the vertical green area, the starting point of the vertical green is the opening of London session.

Thanks for explaning, I see you are long term trader and carry SL and TP zones ongoing. It is a great drawing tool, only looked more like specific areas S&R.

Enjoy your full time trading which hopefully brings you excellent profits!
  • #655,334
  • Apr 1, 2022 12:57pm Apr 1, 2022 12:57pm
appears to be going down further .....i took my short off the table for the weekend to see what happans next week
  • #655,335
  • Apr 1, 2022 1:12pm Apr 1, 2022 1:12pm
Quoting JereMi256
{quote} We are ranging, buy low/after break and RT would be best for you. Cant get my eyes off the HTF, PA is showing more liquidity grab at the bottom [below 1.31××] before the rocket launches {image}
M5 QM formation, if it fails to break and close bove the OB @1.3115, more lows may come to play next week @1.307 for more momentum to the upside
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Face 'ur fears & tame 'ur greed
  • #655,336
  • Apr 1, 2022 1:13pm Apr 1, 2022 1:13pm
As the candle closed above purple line and have some more closes above to form a V shape recovery, I entered Long at 1.311 about 10 candles ago (15 min, including the current one), didnt manage to post the entry live due to in the midst of repairing my PC by my friend.

Trade doesnt look good right now as it sold back down like an inverted V, not yet hit my SL.
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  • #655,337
  • Apr 1, 2022 1:15pm Apr 1, 2022 1:15pm
Quoting Jolita
{quote} Thanks for explaning, I see you are long term trader and carry SL and TP zones ongoing. It is a great drawing tool, only looked more like specific areas S&R. Enjoy your full time trading which hopefully brings you excellent profits!
hmm, not that long term, i take new trades everyday, however if the trade didnt hit either SL or TP, i let it run before taking new ones.
i only let 1 trade active at a time for risk management.
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  • #655,338
  • Apr 1, 2022 2:36pm Apr 1, 2022 2:36pm
Quoting kdnicolas
{quote} Still in
Good luck. I scaled out during the pullback.
  • #655,339
  • Apr 1, 2022 2:48pm Apr 1, 2022 2:48pm
Quoting mysterio
{quote} Good luck. I scaled out during the pullback.
Thank you. Still watching, but will scale out before the close of trading.
  • #655,340
  • Apr 1, 2022 2:51pm Apr 1, 2022 2:51pm
Quoting kdnicolas
{quote} Thank you. Still watching, but will scale out before the close of trading.
You did good to hold on, you'll probably extract more pips than me
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