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Cable Update (GBPUSD)

  • #680,341
  • Sep 2, 2022 6:28am Sep 2, 2022 6:28am
Quoting BeeTogether
{quote} NFP looks like it will knock cable out of the ground.. as someone with a long trade I’m shitting it lol
I have a number of long trades in GBP/USD and in EUR/USD and have taken them out for the longer term. I have no stop loss because for long term your S/L needs to be big and if it is hit there goes another chunk of cash. So instead of S/L I have gone short at proposed S/L point so that I can hedge my trade if the largerer investors want to take us retailers out of the picture. I know that USD can get stronger and stronger taking both GBP and EUR down even more but when this USD has to come clean its going to have to dive and I will enter more longs subject to my account.
  • #680,342
  • Sep 2, 2022 6:29am Sep 2, 2022 6:29am
us index
if we stay above S = short gbp, eur
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Trendlines H1,H4, SMC
  • #680,343
  • Sep 2, 2022 6:29am Sep 2, 2022 6:29am
Quoting Georginson
{quote} Like seriously price is overdue for massive reversal .. buy has been put back at 1.1535... will hold till 1.2000 this time as far as 1.14 stays unbroken.
Signed up with MFF for new challenge today.

Will sign up another one, new challenge with TFF on Sunday/Monday.
Intraday only.
  • #680,344
  • Sep 2, 2022 6:37am Sep 2, 2022 6:37am
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We have a lower point on the 5 min could be short now I had 3 fails to go lower on my 5 min .
  • #680,345
  • Sep 2, 2022 6:38am Sep 2, 2022 6:38am
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yes yes yes
  • #680,346
  • Sep 2, 2022 6:40am Sep 2, 2022 6:40am
update :


almost 50 min to goo....feels like it gonna make another low and push higher .....lets seee...not gonna close it ..and letting it run entire day..
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  • #680,347
  • Sep 2, 2022 6:42am Sep 2, 2022 6:42am
The PA just made to the top, it does not mean reversal to me unless the daily close happens above daily open.

Until then the price is bearish.

Let us watch if the price wants to form bullish daily candle ( daily close above daily open )
Intraday only.
  • #680,348
  • Sep 2, 2022 6:51am Sep 2, 2022 6:51am
Just bought new suits for me.

Intraday only.
  • #680,349
  • Sep 2, 2022 6:53am Sep 2, 2022 6:53am
if we stay above 1.1546 - good sign for BUY
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Trendlines H1,H4, SMC
  • #680,350
  • Sep 2, 2022 7:05am Sep 2, 2022 7:05am
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yes yes yes
  • #680,351
  • Sep 2, 2022 7:09am Sep 2, 2022 7:09am
Quoting BeeTogether
{quote} NFP looks like it will knock cable out of the ground.. as someone with a long trade I’m shitting it lol
Buddy. If you go to the weekly charts these levels were back to normal levels within 5 days. So in the next five days there might be a bull ride. This NFP I think is just used by the market makers to make money!!! Lets see which way they push it, but its gonna move!!!
Don't trade what you think. Just what you see!!!
  • #680,352
  • Sep 2, 2022 7:18am Sep 2, 2022 7:18am
1.14 or 1.17 it is today. Prepare folks! ALL EYES ON GBP/USD and USD/JPY.
If we get bad news from America, I'm pretty much going long long term on GBP/USD and opposite on USD/JPY.

Plan: I will enter long on GBP/USD with a smaller lot size 5 minutes before the news and put SL 30 pips. On USD/JPY patiently waiting with bigger lot size..
ABOVE 350K 100 Pips Minimal, Below 250K 100 Pips Minimal.
  • #680,353
  • Sep 2, 2022 7:21am Sep 2, 2022 7:21am
Quoting Otiken
{image}

Man why not hedge, how do you keep buying the dip as it continues to dip?

Please use hedge to cancel out and obly buy when you see the need to. Only trade what you see, react don't predict so you don't dash money to your brokers.

Kind regards.
  • #680,354
  • Sep 2, 2022 7:22am Sep 2, 2022 7:22am
Quoting navk
{quote} Signed up with MFF for new challenge today. Will sign up another one, new challenge with TFF on Sunday/Monday.
Navk you are a man of vision... Keep up the good work. I'm copying your vision of multiple prop accounts too. God help us all.
Data + Stat + Risk/Emotions Management
  • #680,355
  • Sep 2, 2022 7:22am Sep 2, 2022 7:22am
10M to NFP
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"Exchange of hands"
  • #680,356
  • Sep 2, 2022 7:22am Sep 2, 2022 7:22am
Quoting Theoak
{quote} Buddy. If you go to the weekly charts these levels were back to normal levels within 5 days. So in the next five days there might be a bull ride. This NFP I think is just used by the market makers to make money!!! Lets see which way they push it, but its gonna move!!!
i have a dominos pizza pending on it lol.

We are well over sold but unlike what we saw in May/June when we dropped from 125 to 11980 there hasnt been any signs of an up straight away which gives me a sense of doubt we can get higher by mid september .. again i could be wrong and NFP is a balls up
Insane in the Brain..
  • #680,357
  • Sep 2, 2022 7:23am Sep 2, 2022 7:23am
to me, the first reaction will be short.

The price likely to fall to s1, 1480.

Then let us see.
Intraday only.
  • #680,358
  • Sep 2, 2022 7:26am Sep 2, 2022 7:26am
Quoting thatRichDude
{quote} Man why not hedge, how do you keep buying the dip as it continues to dip? Please use hedge to cancel out and obly buy when you see the need to. Only trade what you see, react don't predict so you don't dash money to your brokers. Kind regards.
Hedging is one of the most underrated powerful tools of trading if properly used. It is either buying or selling... If sellers are winning and you are buying without confirmation that the bulls are active, selling with the trend to limit your buying loss will save your equities. Most importantly know the distance and integrate it with support and resistance. More on this topic later.
Data + Stat + Risk/Emotions Management
  • #680,359
  • Sep 2, 2022 7:29am Sep 2, 2022 7:29am
Quoting Georginson
{quote} Hedging is one of the most underrated powerful tools of trading if properly used. It is either buying or selling... If sellers are winning and you are buying without confirmation that the bulls are active, selling with the trend to limit your buying loss will save your equities. Most importantly know the distance and integrate it with support and resistance. More on this topic later.
if you hedge in marriage and both team up to make your life double hell, how can it be a powerful tool in forex
  • #680,360
  • Sep 2, 2022 7:33am Sep 2, 2022 7:33am
here we gooomoney rain
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