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Cable Update (GBPUSD)

  • #691,841
  • Oct 5, 2022 3:54am Oct 5, 2022 3:54am
Quoting parisboy
Target 1,14320 +/- 62 {image}
Target reached
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  • #691,842
  • Oct 5, 2022 3:57am Oct 5, 2022 3:57am
if it get above the band , i am out !
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yes yes yes
  • #691,843
  • Oct 5, 2022 3:58am Oct 5, 2022 3:58am
Quoting Indiara
I will try a Buy here {image}

I have protected the trade early because the movement is not too positive. I will earn 1 pip at least!!
I am neither brave nor stupid...I am just a part time trader
  • #691,844
  • Oct 5, 2022 3:59am Oct 5, 2022 3:59am
Quoting Headland
...that 1hr bullish hidden div might stay valid above 1.1300 (circled.) 1hr below {image}
Bears can't even keep this below 1.14.
  • #691,845
  • Oct 5, 2022 4:03am Oct 5, 2022 4:03am
Quoting Indiara
I will try a Buy here {image}
why do u buy on Resistance?
u can do it, but why?
Trendlines H1,H4, SMC
  • #691,846
  • Oct 5, 2022 4:03am Oct 5, 2022 4:03am
Opened Short Position

Target 1,40030 +/- 30
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  • #691,847
  • Oct 5, 2022 4:09am Oct 5, 2022 4:09am
Quoting Indiara
{quote} I have protected the trade early because the movement is not too positive. I will earn 1 pip at least!!
Sl was eaten, so +1 for me!

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I am neither brave nor stupid...I am just a part time trader
  • #691,848
  • Oct 5, 2022 4:09am Oct 5, 2022 4:09am
Quoting Moty
if it get above the band , i am out ! {image}
may I ask you your indicators name ?
RedcaT 3003
25k Return This Week: na
  • #691,849
  • Oct 5, 2022 4:10am Oct 5, 2022 4:10am
Quoting josip
{quote} why do u buy on Resistance? u can do it, but why?
I have to trade according to my plan. This wasn't a very good entry, but the risk was small
I am neither brave nor stupid...I am just a part time trader
  • #691,850
  • Oct 5, 2022 4:10am Oct 5, 2022 4:10am
Quoting josip
{quote} why do u buy on Resistance? u can do it, but why?
If it breakouts from Resistance, the move will reap insane rewards. It is the same as shorting at support; if it breaks, it almost always is a timber move.
  • #691,851
  • Oct 5, 2022 4:10am Oct 5, 2022 4:10am
...this time the prev 30min sw lo zone = prev supp = pot sbr causing the problems for the bulls (pink zone)...a pt. 4 in an exp tri on 5min.

How strong are the bulls now? Still strong?

1hr below
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Trader with an Edge.
  • #691,852
  • Oct 5, 2022 4:10am Oct 5, 2022 4:10am
Inserted Video
POSTMASTER
  • #691,853
  • Oct 5, 2022 4:10am Oct 5, 2022 4:10am
Quoting Fardeen1209
Missed my short entry at 11485. Waiting for a BO of support 11422 to 11383, then pullback to 11422, will short
Will be a very quick scalp. TP at 11397.

Will long in that region
Cause

Quoting KareemAliFx
Very nice holding and will look for more long opportunities I’ll probably close some trades after we meet our high today depends on the PA but as far as I’m concerned gbp usd and eurusd upside has only begun ! {image} {image}
Totally makes sense
More time in the market, does not mean you trade better!
  • #691,854
  • Oct 5, 2022 4:16am Oct 5, 2022 4:16am
Reversed position
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  • #691,855
  • Oct 5, 2022 4:16am Oct 5, 2022 4:16am
Quoting Nordling
{quote} If the FED hikes by 75bps tomorrow, we will feast buddy. We will feast
What ever happen to me olde mucker Nordling ...anyone know
  • #691,856
  • Oct 5, 2022 4:17am Oct 5, 2022 4:17am
3 hours to ADP Nonfarm Employment Change (Sep).
  • #691,857
  • Oct 5, 2022 4:18am Oct 5, 2022 4:18am
Uk Pm Truss speaks at tory conference - 'keynote speech' @ 11am Uk time.
Trader with an Edge.
  • #691,858
  • Oct 5, 2022 4:18am Oct 5, 2022 4:18am
Quoting tenkanzen
{quote} If it breakouts from Resistance, the move will reap insane rewards. It is the same as shorting at support; if it breaks, it almost always is a timber move.
ok understood
My experience (12years) says that rebounds are more successful than overcomes S/R
Trendlines H1,H4, SMC
  • #691,859
  • Oct 5, 2022 4:20am Oct 5, 2022 4:20am
Quoting josip
{quote} ok understood My experience (12years) says that rebounds are more successful than overcomes S/R
I'm not saying we should (or should not) do it, just giving you a potential reasoning why he/she did what was done. The GBP crash that went down 800-1000 pips, if you shorted at around down 400 pips, you would also be shorting at support, but it still yielded a very solid 400-600 pips. Of course, the circumstances are a little different here since it was driven by news (fundamental).

I'm not that person, so I'm just throwing out a guess here.
  • #691,860
  • Oct 5, 2022 4:22am Oct 5, 2022 4:22am
Price was few pips from parity on EUR/USD and few pips from 1.15 GBP/USD..
Yesterday price on USD/JPY made fake move to the downside and has already retraced meaning USD/JPY is about to go higher than 145.

Anyway, short on Pound and Euro today! I mean how many days in a row can we witness bad news from America? Come on..

I also said if price get's to 1.17, then I'll stop looking for going short anymore. Actually, then it's hard to tell anymore what is going on is it a retracement or reversal. For now still, this was a retracement and the trend is still down.

If 4H doesn't bounce from 1.14, we have a sell! If this is a retracement of buy and I think it is, DON'T LEAVE SHORT POSITION UNLESS YOU CATCH AT LEAST 400 PIPS!. Because, even if this is a reversal it has to give a nice retracement to the last buy. Have signal for short on 15M, 30M and Hourly Chart. Now waiting for 4H to confirm this is a big retracement.
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