Cable Update (GBPUSD)

The last top of thhe chart H1. And i'll wait for to re-buy below until the price touch the pivot daily.

trade closed - 1.2189

This zone is bearish, is better stay out for while.

The initial reaction to the rate hike looks over and represented in the daily Heiken Ashi as a pullback in an uptrend which the weekly shows so clearly

No one can win all the trades, you need to know when to cash-in and when to accept the loss!
Im currently waiting patiently for pa to touch 1.2245 - 1.2281 to trigger my sell limits

I am out
Last 2 day summery
I love this new strategy

Let's see if the level 50% work as support for an new movement bullish.

Is much better the money in your pocket than running with risk in the market.

You are using too much lot size, try to use small lot size.

Yes,
Based on the low TF (M5), the price has arrived at the Filling Order Area. If there has been a short order filling in that area so that MMs can sell Pounds relatively high, it is very possible. But so far, I haven't found any change in bias: short-term (even) for short trades. Except jump into shorts with the target area that I marked in green. Because that's where (based on this TF) there is potential for further filling of long orders.
Look, when the price broke above the whole 1.22000 level, the activity increased in the highs, with a typical PA format. For me this is a trigger to stimulate the herd (especially retail traders) to take short positions, said: triggered into DM (Dumb Money). If don't have a good exit plan, then weak holder traders will be forced out of the market when the filling of long orders below the whole level is completed.
But this is just my hypothesis based on how I read the market. I could be wrong. And I have already set the Exit position for the opened long trade.
Sincerely,
MJ-

In my humble opinion. Unless Usdx can sustain a clear break above 104.893 and more importantly a weekly close above, we can merely treat this as a retrace or correction from a higher time frame perspective. Usdx is setting up for a sell trade, which means at this point we could look for dollar weakening.
Cheers.

God bless everyone!

But anyway I took a Buy Trade

After the Fact this time Haha


Alright its weekend and New Year very few days away

Slow day today will keep an eye on forum and open trades. Not expecting too much though

Ready to take long again

Final GDP next week for US. Not expecting anything just curious.. FOMC Meeting Minutes on 4th of January..

One more week of trading left in this year.

Cable

Market wait for upcoming Flash Services PMI news to make a move.