Cable Update (GBPUSD)

Trend is Bullish but I am ready to risk of 20 pips
RR is really good

Morning cable traders. My view...

Reminder

At last!! I have GU Buy for Tokyo

Keep the trading strategy simple (EMAs crosses, Fib S&R and patterns)

Hhahahahahahaaha, not like am afraid to lose money on Mondays but the freedom and free time it takes from me, putting me
in front on the computer till Friday, Lol

Good Afternoon to everyone

Last 5 days fluctuation

31-Oct-2022: Hight = 1.15682, Low = 1.14599 Total Fluctuation = 1083 points
1-Nov-2022: High = 1.15661, Low = 1.14369 Total Fluctuation = 1092 points
2-Nov-2022: High = 1.15647, Low = 1.13878 Total Fluctuation = 1769 points
3-Nov-2022: High = 1.14219, Low = 1.11514 Total Fluctuation = 2707 points
4-Nov-2022 High = 1.13819, Low = 1.11458 Total Fluctuation = 2361 points

Total Fluctuation in 5 days = 9210 points
Last 5 days Fluctuation in average = 1842 points
Highest Fluctuation of 5 days = 2705 points

Yesterday Highest Price = 1.13819, Lowest = 1.11458,
Today Open Price = 1.13403

Estimate today reasonable highest price: 1.15245
Estimate today highest price: 1.16108


Estimate today reasonable lowest price: 1.11561
Estimate today lowest price : 1.10698


The above information is for your reference only not financial advice.
Happy Trading

G/M, large gap down @ open y/day - more than just a broker spread widening @ open gap. Small-ish Asian session, and gap yet to be closed. Current dly lo is near the gap lo. London forex desks opening. A repeating pattern I(s) of bullish hidden div on 15/30min @ current dly lo. 30min may stay valid whilst price above 1262.

Let's see what London does with it.

1hr below

out !!!
waiting for signal for long

...1hr bearish engulf of last 6 candle bodies close, but @ prev minor 1hr sw lo zone (once tested) = prev supp = pot supp.

1hr below

I closed manually at -16.

I will wait for another chance

You don't let price hit your SL or TP?

No, the purpose of the SL is to protect the account from major damage in the event of a large spike. It is placed where it is not likely to get hit unless that large spike happens. When I decide that I no longer like the trade's chance of success, I close the trade

Cool, sometimes I don't like the idea of closing manually because most of the time we leave too much profit on the table because we panick.

At some point, the gap need to be filled....

Woke up in the morning feeling like .....

There's another way to say it: Some one woke up and choose violence, attacking the market when it's hardest.

Now, separate from my other trades targeting 1.18, this one is more of a contingency trade. Trade the wk-end gap. We'll see how long it takes to close, or may bt not close at all, taking us a deep dive before going back up. Who knows. Let's see...

If that happens, it'll be a fun, fun ride.

When it comes to taking profit, it can be a balancing act. Do we close manually at (say) +23 when our TP is set for +35 because the price is faltering and may go back on us? Or do we consider the price to be just 'breathing' and wait for the +35 TP to be hit?

If we close early and price continues to TP without us, we *could* be upset with ourselves. But what if we close early with +23 and price goes back to +0 or worse? We will be happy with ourselves for taking what was on offer, and not being greedy to get every last pips, and ending up with nothing!

billytt made it clear to me that when the profit is there (and the price is faltering), take the money...every time. With that money we can make more money. Can't make money with nothing!

t 07-18 uk time.
Hi all, a new week to take money from our nice brokers.
Cable, we have a weekend gap and a gap will usually close.

My bias is long as the 00-00 to -04-00 candle range high of 11344 has been broken.
when price hits 11306 my bias will be short. Lets see.
As always , i will trade off the 07-45 to 08-00 15 minue bar break and then hopefully the 08-00 to 08-15 bar break.
Quick scalp and out hopefully.
Trade well all.
t 07-22