Cable Update (GBPUSD)

A word of caution for Shorts, the area 1.21232 - 1.21381 was a strong resistance many days ago, this week we broke through it, and now it looks like this area going to act as support to continue the longer term uptrend from here.

As per my system, the 2W pivot area is 1.18985 - 1.19624, as long as price stays above it, the long term trend is Up, and this 2W pivot will be valid until end of this year as per Fischer's book, so 1 year only need to calculate 2 times for 2W pivot, one for Jan and one for July, each last for 6 months.

A close above 1.21381 potentially can go Long, SL 1.21147 recent low.
I'm not taking further trades today, this week is done for me, whoever wants this trade, go ahead.

M15 chart.

I think may be the 12201 level will be retested. and consolidate.

My stop finally got hit. Looking for next trade

Another excellent day!

Congrats

I have a sneaky suspicion the Dollar is bearish into September's FOMC, and will really pop when NFC comes out after it. Just as it was bearish from the current one and dove for the current NFC.

Today has some signs there may be another 200 pips movement which may crash price to 1.2000/1.1986 as it did last week Friday. I will wait on the sideline to pull buying trigger at from 1.2020 - 1.1990.

Middle BB H4 is broken..i think we'll price more down testing lower bb h4 at 1.2050 soon..
if that lower bb reject..maybe will fly to 1.2300 next week or sideways until mid bb broke..
cmiiw..

GU: H4
Ideal Zone For Buy. But GU may move more down.
Waiting for Buy Entry. After U.S Open if my LTF System allow me.

ok gang, so when i entrerd the earlier long i was just going in the general direction of what i perceived was going to be the prevalent trend and i entered long. me attempting to transition to a swing trade style after a few years of daytrading, i still have impatient tendencies. im long again from the obvious structure on h4 with like a 70 pip stop. i surely should have waited until price hit a definite structure. i knew better i just became too confindent. cant go against my discipline after a week, month, or year of good trades. anyway lets eat!

Reverso... "the Hobbit" is a good read. You will learn more in that book about trading than 99% of trading books. I have read a lot of books on system and strategies and come to the conclusion... you have got to do it yourself - Back test. For your own confidence and belief and know win to loss ratio. I don't know what system you use, but you will lose and you will win.. Just win big and lose little

The only thing you can do is back test.

What I do (not saying its right for you) is to hit the target (or nearly sometimes*) and then trail.

* Its not exact science use your 300 IQ.
** Again if you break your rules -- how are you back testing...You are just making it up as you go, but the market changes (news.. orders.. spikes... markets makers). Why should you not react to the market? Nothing is worse than missing the target by few pips then you are in a losing trade. I also hate it when you are stuck in a trade for days when you could have taken the money days before. I have been told not to break your rules, but are rules for fools!!!

Simple question have sometimes very hard answers, Ask a simple question!! such as:

Should I target or trail???

meanwhile for the love of trading

Omg ithcy fingers...lol

pardon i mean 27 pip sl

Edited

...nice drop-down, a decent move, and a much changed 1hr/4hr chart. 77% 30day adr traveled so far today (102pips.) 83% 13wk awr on the last trading day of week.
Bounce up @ the current dly lo comes @ bottom of a prev 1hr sw hi zone (top of this coexistant with a prev 1hr/4hr sw hi zone , both = prev res = pot rbs & 4hr asc t/line.

Hope everyone got some of the move down.

1hr below

It’s Friday crazy shit happens lol. It could also go up a 100-150 too. Will have SL’s in place.

Plug that phone in a charger!

nice to see you mister curve
i am with 98 $floating loss after being in a 240 $

wonderful strategy