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Cable Update (GBPUSD)

  • #706,221
  • Nov 10, 2022 11:13pm Nov 10, 2022 11:13pm
Quoting Fardeen1209
{quote} If Agreed with you tho. The pivot is just market speculation but no sign from FED! It is not for now, but for the bigger picture, and billions of dollar position which needs to break into smaller block to enter the market. So i always try to understand what these big guys will do or expecting to do using the fundamentals
There is something bigger at play than just interest rates moving exchange rates. Look at the daily rates, it is almost as if several months of adjustments were reversed and the currency markets are balancing at a different level.

Recall Pat's speculation from yesterday.
  • #706,222
  • Nov 10, 2022 11:31pm Nov 10, 2022 11:31pm
good start to the day by buying
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  • #706,223
  • Nov 10, 2022 11:36pm Nov 10, 2022 11:36pm
GU - may go to yearly Mid level 2022
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"Exchange of hands"
  • #706,224
  • Nov 10, 2022 11:41pm Nov 10, 2022 11:41pm
Quoting Houtbay
Navk are you selling or buying this morning?
below 1720/25..................

only selling to me for the rest of the day.

I am taking it.

My stop 1727
Intraday only.
  • #706,225
  • Nov 10, 2022 11:47pm Nov 10, 2022 11:47pm
Some good rules

add only to positive position.
never add anything in negative position, that's very bad Money Management Practice.
Be prudent in trading, keep tiny SL, so it won't hurt your account with large Drawdown and hurt your emotion.
Risk only 1.5% of your capital, so you can sleep at night.

Ref: https://www.forexfactory.com/thread/...8#post13578278
"Exchange of hands"
  • #706,226
  • Nov 10, 2022 11:48pm Nov 10, 2022 11:48pm
long taken targeting 1727
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  • #706,227
  • Nov 10, 2022 11:49pm Nov 10, 2022 11:49pm
That Tokyo mini sell off availed me opportunity to close my sell trades, this pair has a chance of attacking 1.1757 today if this week range wants to equate that one of last week being 486 pips...

1.1289 + 467 = 1.1756

Last week was 1.1613 - 1.1146 = 467 pips...

I will start selling if* price can break 1.1625...
Data + Stat + Risk/Emotions Management
  • #706,228
  • Nov 10, 2022 11:52pm Nov 10, 2022 11:52pm
Quoting Pat Chiko
{quote} Hi Dempire, subject on drawdown. Here's the Paradox. Trading in general, attracts those of us that believe we can be successful at anything we put our mind to. Some would say; those that consider themselves Winners. So how does a Winner feel when s/he is 500Pips in the hole? Does s/he feel like a Winner? Depends: {not the garment although sometimes...} Is the Account Up 1,000Pips overall? Or, is the account now down 50Pips. The toughest part for a Winning Trader to assimilate is the Fact that we will not Win them all. That occasionally,...
pat，would you please instruct me which level should I select. should I choose the resist as key level and take a short trade or should I pick support as key level and take a long trade？ often I pick a loss direction， I DON'T know why
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  • #706,229
  • Nov 10, 2022 11:57pm Nov 10, 2022 11:57pm
Quoting PatienceFx
long taken targeting 1727 {image}
I am aiming 100 to 120 pips for stop 18 pips.
Intraday only.
  • #706,230
  • Nov 10, 2022 11:58pm Nov 10, 2022 11:58pm
Quoting bilal1947
GU - may go to yearly Mid level 2022 {image}
Not this 2 weeks for that level..
Peace Yo!
  • #706,231
  • Nov 11, 2022 12:05am Nov 11, 2022 12:05am
Quoting navk
{quote} I am aiming 100 to 120 pips for stop 18 pips.
eaten, please give next
  • #706,232
  • Nov 11, 2022 12:06am Nov 11, 2022 12:06am
Quoting Bella.al
{quote} GBPUSD...1.16602 Although yesterday's rebound from 1.13332 – (09.11.2022) suggests a temporary low has been possibly formed there. However, a firm breach of 1.18015 is required to signal continuation of new Bull cycle. Buying on pullback with stop as indicated, as only below 1.15011 would negate this upside bias. Bullish Cycle Started – 10.11.2022 Strategy/Entry level: Date :11.11.2022 Type: Limit Order Buy Limit : 1.15970 Stop-Loss: 1.15508 Objective: 1.19104 -Bella's Blue {image}

Current Rate : 1.17260

The Above Pending order is now cancelled.

-standing aside.
Goddess of Thunder..
  • #706,233
  • Nov 11, 2022 12:06am Nov 11, 2022 12:06am
Go go EU....
Attached Image(s) (click to enlarge)
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Peace Yo!
  • #706,234
  • Nov 11, 2022 12:12am Nov 11, 2022 12:12am
Quoting mrluckystar
Go go EU.... {image} {image}
Charts are very similar, 3x the volume in GU vs EU, a little more chop in GU and higher rise for the day in EU
  • #706,235
  • Nov 11, 2022 12:12am Nov 11, 2022 12:12am
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yes yes yes
  • #706,236
  • Nov 11, 2022 12:21am Nov 11, 2022 12:21am
Cammon GU... Take a lead!
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Peace Yo!
  • #706,237
  • Nov 11, 2022 12:23am Nov 11, 2022 12:23am
Quoting Moty
{image}
Attached Image (click to enlarge)
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  • #706,238
  • Nov 11, 2022 12:23am Nov 11, 2022 12:23am
Quoting mrluckystar
Cammon GU... Take a lead! {image}
I can see why your SL aren't getting hunted
  • #706,239
  • Nov 11, 2022 12:28am Nov 11, 2022 12:28am
Quoting PatienceFx
{quote} eaten, please give next
I have taken short again. At 1725.

1732 is my stop. ( 7 pips stop )

Now let us see.

I will leave these trades for the rest of the day
Intraday only.
  • #706,240
  • Nov 11, 2022 12:30am Nov 11, 2022 12:30am
the m5 line on this chart will decide my trade
Attached Image (click to enlarge)
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