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Cable Update (GBPUSD)

  • #674,101
  • Aug 8, 2022 1:57pm Aug 8, 2022 1:57pm
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yes yes yes
  • #674,102
  • Edited 2:31pm Aug 8, 2022 2:16pm | Edited 2:31pm
1H quick chart
I don't draw a 15-minute chart, but it's so nice...
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Trendlines H1,H4, SMC
  • #674,103
  • Aug 8, 2022 2:22pm Aug 8, 2022 2:22pm
Quoting TonyHoney
{quote} O ti lule
Very funny quote. Lol... Moty is not Nigerian. He is from Israel so won't understand what you said. Or, maybe, Google translate can help.
  • #674,104
  • Aug 8, 2022 2:26pm Aug 8, 2022 2:26pm
Well, been singing it like a song for a while today. That Asia low should give way tomorrow, or at least should be breached. Keep shorting the spikes till it happens. Easy trade.
  • #674,105
  • Aug 8, 2022 2:52pm Aug 8, 2022 2:52pm
Closing the remainder of my shorts here at 2074. Tomorrow I will reasses and jump in again
  • #674,106
  • Aug 8, 2022 3:02pm Aug 8, 2022 3:02pm
Come on
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yes yes yes
  • #674,107
  • Aug 8, 2022 3:16pm Aug 8, 2022 3:16pm
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too easy
be a thinker before being a reacter
  • #674,108
  • Aug 8, 2022 3:21pm Aug 8, 2022 3:21pm
Quoting Moty
Come on {image}
Bro, you have to change the way you trade
  • #674,109
  • Aug 8, 2022 3:33pm Aug 8, 2022 3:33pm
Quoting Wavegarrick
{quote} Price currently dead on with my weekly pivot at 1.21202 and I have opened a sell trade, however there is a big but. If price breaks through my previous weekly pivot at 1.21275 just above I will look to close my sell trades. Have a great week, Cheers. {image}
As much as I would like to believe that the 4 hr time frame is my only time frame I also have to look at the higher time frames. We have a significant pullback from last weeks low at 1.20000 and I am getting buy signals from a daily t/frame perspective. I have a buy trade at 1.20789 with a 50 pip stop. A daily close above my green horizontal line at 1.20608 puts bulls back in charge, below bears. Things are tough, I know when it comes to this. a daily close above 1.21275 should seal the deal for bulls.
Take care.
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Trade to trade another day
  • #674,110
  • Aug 8, 2022 3:35pm Aug 8, 2022 3:35pm
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  • #674,111
  • Aug 8, 2022 5:23pm Aug 8, 2022 5:23pm
Good night folks! Let’s see if we can break below 12050 in this day of trading
Insane in the Brain..
  • #674,112
  • Aug 8, 2022 5:24pm Aug 8, 2022 5:24pm
Quoting Moty
Come on {image}
Lol
  • #674,113
  • Aug 8, 2022 5:32pm Aug 8, 2022 5:32pm
Quoting Moty
Come on {image}
Why would you hold losses like that
  • #674,114
  • Aug 8, 2022 5:36pm Aug 8, 2022 5:36pm
So I got the short area about right but I really jumped in too early as the US session must have caught us all shorting and it tried to get us out of that position.

in any case the move back down doesn’t look finished yet so more shorting is in order, being wary of this move down ending today some time most likely.
  • #674,115
  • Aug 8, 2022 6:11pm Aug 8, 2022 6:11pm
Quoting shakmoney
{quote} Why would you hold losses like that
Cable was fair to both buyers and sellers why moty keeps holding without closing on profit is beyond me
  • #674,116
  • Edited 7:14pm Aug 8, 2022 6:43pm | Edited 7:14pm
Quoting epzero
{quote} Cable was fair to both buyers and sellers why moty keeps holding without closing on profit is beyond me
I think he is very selfish because the price is not moving according to the target TP
  • #674,117
  • Aug 8, 2022 8:08pm Aug 8, 2022 8:08pm
Thank God Moty is here, so some people have something to write about, otherwise, they would be silent. Always wonder, why only Moty's traders are under the microscope? Other traders here holding the unprofitable trades get the message: "Sir, I admire your patience" but not Moty. Why do we have double standards here? I will fix it.
Moty, I admire your patience. Stick to your plan.
Always trade your own plan...I don't provide trading signals.
  • #674,118
  • Aug 8, 2022 8:20pm Aug 8, 2022 8:20pm
Quoting Reverso
{quote} I can see the uptrend is losing steam, i exited prematurely with a small profit. The main reason i exited is due to the optimal entry point, which i was supposed to enter, was 1.20930, and if i were to enter there, 1.5x of SL i would have already hit my TP for today. By entering late means my SL and TP will be wider, sometimes will cause me to not reach TP if the momentum not strong enough. A mistake that sometimes I can't avoid, i have a regular job, i was eyeing that optimal entry point but i was in a meeting and missed it. Oh well there...
I was glad that I exited prematurely, the trade did hit SL if I had hold on to it.
Speaking of missing trade, I should have taken the Short trade when it rejected yet again from the Daily upper key level, and would have already TP, hindsight is 20/20 I guess? I might catch it if I switch to full time forex, which I don't plan to at the moment, I need my regular job as backup if things happen.

Generally it is a good rule of thumb to exit trade prematurely if you do not feel good about the trade, for me it is the optimal entry as per the rule/system.
I do not feel good if in the back of my mind I KNEW I entered even slightly later than the optimal entry point (the moment the valid signal occurs after candle closed).
Such situation can cause to not hit TP if the move in that direction is going to be limited, just enough for TP, a longer TP distance may have missed the TP and hit SL instead, it's bad, and I don't want that.

If I entered optimally, I will have assurance during the full duration of the trade, I will gladly accept the outcome of SL or TP, because the trade is exactly as per the rule, it gives peace of mind.
https://www.myfxbook.com/members/NGplus/freedom-you-deserve/11268620
Freedom you deserve. All Time Return: 50.4%
  • #674,119
  • Aug 8, 2022 9:10pm Aug 8, 2022 9:10pm
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ITB - Seeing Orderliness amongst 'Randomness'
  • #674,120
  • Aug 8, 2022 9:18pm Aug 8, 2022 9:18pm
Quoting epzero
{quote} Cable was fair to both buyers and sellers why moty keeps holding without closing on profit is beyond me
Quoting devin1
{quote} I think he is very selfish because the price is not moving according to the target TP
Do not be too quick to judge other's methods. We each have our own style and trade according to our own principals/strategies. These are not to be impugned. For myself, there are a lot of traders here that make moves that I do not understand. When I make the effort to study on their methods, I generally learn something of which I was previously ignorant. Of course, I am still pretty ignorant...

My mother told me (so very many years ago) that if I could not say something nice, then it was best I said nothing. Good words.

Let us try to help one another and not tear down.

Cheers!
Tall tails tell tales.
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