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Cable Update (GBPUSD)

  • #703,501
  • Nov 3, 2022 12:33pm Nov 3, 2022 12:33pm
Quoting Jollson
{quote} 2 are more than enough so added 1 more @ 9767 Now i am ready to play Tom & Jerry Trade Light n Trade Safe
Last Night it was GU tonight its ME THE EU (Shhhh but don't tell anyone otherwise They will do the same what They did to HER)

Trade Safe
  • #703,502
  • Nov 3, 2022 12:42pm Nov 3, 2022 12:42pm
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.png Size: 16 KB
yes yes yes
  • #703,503
  • Nov 3, 2022 12:43pm Nov 3, 2022 12:43pm
Quoting Wavegarrick
Another way to manage your trades if you don't take stop losses. If price drops by a substantial amount against your trades it is good to average down because at some point the market will retrace. It always does, especially if it was a quick move. More so if you trade in line with your available margin and risk tolerance. I see too often that traders have to take a loss, if not they will be margin called. Trade small in line with your risk tolerance and average down or up to get out of a losing position quickly. Just another...
Thanks WG for your points, it definitely needs skill set to know when to enter and exit while averaging knowing total drawdown is in limit or when to cut, and definitely nerves to handle it.

Best regards
bilal
"Exchange of hands"
  • #703,504
  • Nov 3, 2022 12:45pm Nov 3, 2022 12:45pm
Quoting dempire1
{quote} I have to agree with mr.ict here. From my own experience ive learned that its better to take that quick hit(or hits) and wait for another opportunity instead of holding losing positions. What if the price continues to just go against you more and more? At the end, no matter how good we are technically. You can/and will still lose and its impossible to know where it stops. And you can always hedge or use other things tricks to regain your losses. Doesn't mean you have to hold on to losing trades. But thats just me. I try to take advice from...

Hi dempire,

Well said my friend , don't stick with a losing trade it can go wild and you likely lose control on the trade finding yourself paralyzed as you keep watching your losses get bigger ,and in case the trader doesn't place a stop loss the situation gets even worse.

So i totally agree with you ,taking the early loss is always better than watching a losing trade, smart risk management is the core of trading any market.

Trade well.

Thanks
I always knew that someday I would make it big
  • #703,505
  • Nov 3, 2022 12:46pm Nov 3, 2022 12:46pm
Quoting dempire1
{quote} I have to agree with mr.ict here. From my own experience ive learned that its better to take that quick hit(or hits) and wait for another opportunity instead of holding losing positions. What if the price continues to just go against you more and more? At the end, no matter how good we are technically. You can/and will still lose and its impossible to know where it stops. And you can always hedge or use other things tricks to regain your losses. Doesn't mean you have to hold on to losing trades. But thats just me. I try to take advice from...
Mr Ict is MJH, i am bilal

that is the beauty of social platform to learn from others, no one is perfect !

Regards
bilal
"Exchange of hands"
  • #703,506
  • Nov 3, 2022 1:01pm Nov 3, 2022 1:01pm
Quoting thevisitor
{quote} Hi Wave, how about your longs? you never go short, do you? What's your view short,mid ,long ? Thank you !!
Thanks for your honest observation. Well I have been buying for the last two months. I am currently on Prozac. Lol. Jokes aside. never done Prozac. Yes it's not a good feeling, There are a lot of ifs, I certainly don't see parity for Gu and we are just short of the October monthly candle open at 1.1160 ish. 1.12500 is a quarterly level and we have a week and some to go for the midpoint of the 4th quarter on the 15th of November. What can I say. Will the Us dollar become world dominance and the pound just another 3rd world currency. I just cannot see that.
We shall see.
Cheers
Trade to trade another day
  • #703,507
  • Nov 3, 2022 1:02pm Nov 3, 2022 1:02pm
Quoting thevisitor
Short 1.1220 Target Weekly S1 1.1120
Edit: 1.1080
  • #703,508
  • Nov 3, 2022 1:05pm Nov 3, 2022 1:05pm
Quoting mtako
price action too smooth, Sold SL15
15m Hidden divergence short setup failed with eurusd, now gbpusd has a chance. Second time the charm? Or second failure
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #703,509
  • Nov 3, 2022 1:12pm Nov 3, 2022 1:12pm
Quoting Wavegarrick
Another way to manage your trades if you don't take stop losses. If price drops by a substantial amount against your trades it is good to average down because at some point the market will retrace. It always does, especially if it was a quick move. More so if you trade in line with your available margin and risk tolerance. I see too often that traders have to take a loss, if not they will be margin called. Trade small in line with your risk tolerance and average down or up to get out of a losing position quickly. Just another way to money manage...
Attached Image (click to enlarge)
Click to Enlarge Name: bullperma.jpg Size: 66 KB
...because you never know - until you do!
  • #703,510
  • Nov 3, 2022 1:15pm Nov 3, 2022 1:15pm
GU 1 to 5 RR trade, Enjoy
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 28 KB
MA provides the market's current direction and strength.
  • #703,511
  • Nov 3, 2022 1:20pm Nov 3, 2022 1:20pm
Quoting mtako
price action too smooth, Sold SL15
Quoting mtako
{quote} 15m Hidden divergence short setup failed with eurusd, now gbpusd has a chance. Second time the charm? Or second failure
Looks like the charm ! entry was 1182, now SL is at BE !
Attached Image (click to enlarge)
Click to Enlarge Name: sedfg.jpg Size: 182 KB
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #703,512
  • Nov 3, 2022 1:25pm Nov 3, 2022 1:25pm
triple bottom or potential drop ?
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.png Size: 12 KB
yes yes yes
  • #703,513
  • Nov 3, 2022 1:29pm Nov 3, 2022 1:29pm
It can come down some more before going up again imo, because it has already retraced from the previous drop and its testing its lows again
  • #703,514
  • Nov 3, 2022 1:29pm Nov 3, 2022 1:29pm
Quoting Moty
triple bottom or potential drop ? {image}
The way that this has been playing games all day, who knows!
  • #703,515
  • Nov 3, 2022 1:33pm Nov 3, 2022 1:33pm
aussie , i was expecting the retrace
Attached Image (click to enlarge)
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yes yes yes
  • #703,516
  • Edited 2:05pm Nov 3, 2022 1:34pm | Edited 2:05pm
Quoting Moty
triple bottom or potential drop ? {image}
Moty,
i have no clue about your indicators .

Obviously they are not showing a buy signal..
  • #703,517
  • Nov 3, 2022 1:35pm Nov 3, 2022 1:35pm
It looks like this descending triangle pattern, u understand
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20221103-183317.jpg Size: 140 KB
  • #703,518
  • Nov 3, 2022 1:35pm Nov 3, 2022 1:35pm
I'll give me and my bowl of candy to whomever finds me a serious bull left for today! tripple 15m bottom here?
Attached Image (click to enlarge)
Click to Enlarge Name: th-537857715.jpg Size: 35 KB
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #703,519
  • Nov 3, 2022 1:36pm Nov 3, 2022 1:36pm
Quoting Moty
aussie , i was expecting the retrace {image}
this cable thread my friend
  • #703,520
  • Nov 3, 2022 1:43pm Nov 3, 2022 1:43pm
USD/JPY go to 150 once more please..
Non-Farm should get the job done tommorow.

And then, we just wait for free 500 pips when Kuroda wakes up..
Hihihihi..

Although USD seems to be having some difficulties reaching this level, there's no momentum at all..
I FIND THIS PARTICULARLY SUSPICIOUS!!

Pound fell 400 pips from yesterday and USD hasn't moved much at all against Yen!

Something is lurking in the shadows.. and it's not me..
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