Cable Update (GBPUSD)

If price hits the top it will usually go test lows then or price will go around 50% down and then go and test top yet again before again going and testing lows.

We lose so many trades not because we are wrong but because we are impatient and are closing winning trades soon and leaving losing last longer.

Always put SL 10 pips lower then low and 10 higher then the top. That's it.. this is what Pat is doing and it works for him very nicely.
If broker sees that there are thousands of SL few pips just above the top then they will start buying that currency to try to reach these SL's. Often they will fail and won't move the market at all, but this is what they do. So make sure SL is a little bit higher then you think most people would put their SL's. Some pro traders put their SL a few pips above the last two candles for example or below last two candles. If price bounces from the low it will definitely go and test the daily high or last top 90%, unless some news come out and interrupt this process. Hammers and all of that candle patterns only work at the bottom or the tops but not in the middle, usually never.

Next 1755

Thank you for replying me bro

There is even better strategy. Let the price pass the top and wait for it to return to the top and slide below it and then enter short. This way price going up again to take SL is very less likely to happen.

DC- How's your Feet and your health, bud?

Trading isn't that hard, we just complicate it too much with all of these indicators and what not. They know you are using that to anticipate where the price should go and all of traders are using the same tools all known to banks. Look at Pat, the guy is successful because he doesn't use what we all do.

still in play on ranging market --- atm bullish gartley pattern on 1775 RN

Only question is do you want to be right or do you want to make money? You know what I mean.

So far so good,Thanks for asking sweety

it does look as if we might see a rise before a huge dump. However the area of 119 ain’t gonna happen anytime soon. If the fed even talks about anything dovish the pound will shoot. However the fed is very hawkish

What play are you making now Long or short? And what play are you using the bounce or the re-test?

Im out long with -$40
likely bears wanna touch lower bb h4 1.1760..i will long from there

The lowest weekly range in the last 6 weeks is 230 pips... So far this current week range is 160 pips, which means additional 70 pips to equate the lowest ...

This creates the following simulations
1.1878 minus 230 pips = 1.1648
1.1717 plus 230 pips = 1.1947

So either 1.1648 or 1.1947 may happen today...

For either of the above simulated prices to happen it means today's range may explode to 170 to 200 pips considering the last few days of this week have been very low ranges of less than 100 pips.

Note: The only reason we may not see either of these prices is if this week will produce new minimum range.

Be in the look out guys as today has very strong tendency for price break out.

Cheers, George.

Your welcome sweety pie!!!

How sweet

My Take
The energy rally started at the same time 2020QE began. Not all QE is equal, and that one monetised the debt and then distributed it into the real economy. All that new money is in circulation now.
With negative 'Real Rates' and a rising interest rate outlook, money will flow out of banks naturally into real things.
So you have the war on the doorstep, which only encourages people to park money in something everyone knows is in demand, like gas.
The energy market, especially in the Uk, broke under these conditions when it always worked before because gas spiked. So all Putin has to do is force gas up to break the western market.
Our dumb politicians are trying to make out this is a regular market. They say you can't windfall huge excessive profits from the unusual conditions Putin created while allowing the spike to cripple the economy and add to inflation.
The other UK-specific condition to date is a high tax on energy, especially on petrol which makes prices very sticky and adds to inflation.

The Bank Of England is miles behind the curve and even miles behind the FED! super dummies are running our central bank ...
I think rates need to go higher faster but I'm willing to accept the debt levels mean they don't have to be over inflation Energy will not fall in price with rates that negative