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Cable Update (GBPUSD)

  • #676,061
  • Aug 16, 2022 1:27pm Aug 16, 2022 1:27pm
Quoting Mitiblotch
{quote} Which chart is this? Price never roughed 2125 today!
My is 1.21179 FxPro
People don't plan to lose. They lose because they don't plan.
  • #676,062
  • Aug 16, 2022 1:31pm Aug 16, 2022 1:31pm
It's frustrating..the system I have is good and it should have went long in the morning. It's like they read this forum and are saying okey they all go long let's short guys.. unbelievable. Makes me not to post anything anywhere anymore. Every time I post some trade I lose..and I'm definitely not losing every trade, otherwise I wouldn't waste my time on Forex.
I also think client sentiment is very important. The only time you will see price following majority is if some big shark is going the other way, so they can take his/her money.
  • #676,063
  • Aug 16, 2022 1:35pm Aug 16, 2022 1:35pm
Quoting Chris_35
Decided to do some arithmatic on my trades today and have come to the conclusion that even though I am using a small % of my account, maybe I should trade smaller lots. Maybe because its my money and not Monopoly cash I still find it difficult when the trade goes against me. Then because of this I close the trades too early I end up loosing out. For instance today I closed 6 longs, half of which had gone negative and the other half for small gains because direction changed and I got worried. If I had left my longs in play I would now be about £715...
It isn’t just you , it happens to everyone , once a trade turns negative , we are so in a hurry to close it at the slightest profit because the market has been up and down so when it eventually goes in our direction we can’t afford to miss out on it again , say a trade goes 30pips in your favor and you have a target of 100pips and it goes back -30pips against you , my best bet is that at 40pips profit again you would close that trade
  • #676,064
  • Aug 16, 2022 1:39pm Aug 16, 2022 1:39pm
Quoting TheWolf
It's frustrating..the system I have is good and it should have went long in the morning. It's like they read this forum and are saying okey they all go long let's short guys.. unbelievable. Makes me not to post anything anywhere anymore. Every time I post some trade I lose..and I'm definitely not losing every trade, otherwise I wouldn't waste my time on Forex. I also think client sentiment is very important. The only time you will see price following majority is if some big shark is going the other way, so they can take his/her money.
Lol , what happened today is what happens everyday , if the markets were built to go in one direction until they return and go in the other direction , it everyone would be winning and forex won’t be forex , our entry and exit price control the market with, news effects only allows big players exit or enter thereby giving the market a push
  • #676,065
  • Aug 16, 2022 1:46pm Aug 16, 2022 1:46pm
Mt4/5 fake low, blue dot but real doble bottom
Interbank FX true low, green dot.

Pink dot, mayor low.

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POSTMASTER
  • #676,066
  • Aug 16, 2022 1:50pm Aug 16, 2022 1:50pm
Still holding my longs…. Tp set 1.21300… lets seee…
Extreme gut feeling trader
  • #676,067
  • Aug 16, 2022 1:59pm Aug 16, 2022 1:59pm
Quoting ScalaFX
{quote} My is 1.21179 FxPro
That is correct today
POSTMASTER
  • #676,068
  • Aug 16, 2022 2:57pm Aug 16, 2022 2:57pm
Keeping my shorts running have set TP to 12065 doubt we will get there overnight unless there is another bearish movement overnight. Will look to make a decision on trend before Uk data and have a tight SL just before it
Insane in the Brain..
  • #676,069
  • Aug 16, 2022 2:57pm Aug 16, 2022 2:57pm
I would already be a millionaire if no one conspired against me, and traded the way I expected them to do. Damn this world.
Always trade your own plan...I don't provide trading signals.
  • #676,070
  • Aug 16, 2022 3:41pm Aug 16, 2022 3:41pm
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yes yes yes
  • #676,071
  • Aug 16, 2022 4:29pm Aug 16, 2022 4:29pm
Shorting the pairs ..20p target
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  • #676,072
  • Aug 16, 2022 5:03pm Aug 16, 2022 5:03pm
Quoting Coreg2004
I would already be a millionaire if no one conspired against me, and traded the way I expected them to do. Damn this world.
LOL
  • #676,073
  • Aug 16, 2022 5:23pm Aug 16, 2022 5:23pm
So I was basically right yesterday, well sort of.We hit 1.2111 as expected and bounced off.
What I got wrong was that we entered a new phase of the cycle before going up there, and in this phase there was no guarantee that it would pull back that far at all. It could have easily dropped further if not for the obvious bear trap in London.

We're in different cycle phase but still a downtrend.
So, now I expect a roll off of prices down quite a fair bit to make a new low.
Worth aiming for 1.2 ... but keeping in mind that it may not get there. We have to see how London handles it's business.
  • #676,074
  • Aug 16, 2022 5:46pm Aug 16, 2022 5:46pm
its still bearish until h4 candles can close above mid bb h4
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  • #676,075
  • Aug 16, 2022 6:07pm Aug 16, 2022 6:07pm
I would love to see how 1.2130 reacts, sell limit placed @2128
Face 'ur fears & tame 'ur greed
  • #676,076
  • Aug 16, 2022 6:11pm Aug 16, 2022 6:11pm
Quoting Theoak
{quote} I think you might be ok with your long. Its not retraced enough. So ifs still bullish. I hope you get to your target. Do you want me to get the blood out the fridge to give it a bit of turbo!
Wow lord wizard you are so magical, it traveled 90% to SL then reversed all the way, now i am in slightly profitable territory.
My Long survived! =)

Let's see if TP will be hit later today.
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https://www.myfxbook.com/members/NGplus/freedom-you-deserve/11268620
Freedom you deserve. All Time Return: 59.2%
  • #676,077
  • Aug 16, 2022 6:17pm Aug 16, 2022 6:17pm
Quoting JereMi256
I would love to see how 1.2130 reacts, sell limit placed @2128
Me too
Extreme gut feeling trader
  • #676,078
  • Aug 16, 2022 6:21pm Aug 16, 2022 6:21pm
Quoting Reverso
{quote} Long scenario materialized, entered Long. Entry 1.21036, SL 1.20686, TP 1.21562. Bogdanoff said PUMP IT. {image}
Calculated the daily pivot before London opens today, pivot area is 1.20626 - 1.20826, which is lower than yesterday's pivot range, which also means price need to drop deeper to break the pivot range to switch back to downtrend again, as long as price stays above it, uptrend continues. The fact that my Long almost hit SL by trying to break below the pivot again after it has broken it to the upside, it didn't succeed and bounced back up.

Pivot is what it is, an important price level that you expect & assume it won't break, I like it when bounces happen near pivot and I can use it as SL, high probability trade. However I wouldn't rely on pivot if the range is too thin to be used as SL, a healthy pivot distance usually about 20 pips range, too thick of a pivot range also a problem making SL too wide, sometimes judgement is needed.
https://www.myfxbook.com/members/NGplus/freedom-you-deserve/11268620
Freedom you deserve. All Time Return: 59.2%
  • #676,079
  • Aug 16, 2022 6:44pm Aug 16, 2022 6:44pm
Quoting montygoldy
Still holding my longs…. Tp set 1.21300… lets seee…
Pulled out of my longs with small profit… will wait for better entry later down the day…
Extreme gut feeling trader
  • #676,080
  • Aug 16, 2022 7:06pm Aug 16, 2022 7:06pm
Possible GU target. I would be surprised if it manages to cross that level. If it can cross that level then GU can easily tap to 1.22. Post news GU should correct.
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