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Cable Update (GBPUSD)

  • #745,401
  • May 12, 2023 9:23am May 12, 2023 9:23am
Quoting JackintheBox
Numbers are really bad for more rate hike, so good for USD, spiked down as it should, now retrace, I don't know why. Even the lows were not taken out. I think we should call it a day. Two weird GBP/USD days end...

Definitely some funky stuff going on there. not sure why the usd would be appreciating.
  • #745,402
  • May 12, 2023 9:31am May 12, 2023 9:31am
Quoting busifx
{quote} Definitely some funky stuff going on there. not sure why the usd would be appreciating.
it was clear on the charts lol
  • #745,403
  • May 12, 2023 9:32am May 12, 2023 9:32am
Quoting Mitiblotch
Short 2505. TP 2470. No need for much questions
Miti, what is your method of trading? We often agree, but after reading your posts for many years, I'm still in the woods about what you use. Of course, if this information is not classified...
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Always trade your own plan...I don't provide trading signals.
  • #745,404
  • May 12, 2023 9:32am May 12, 2023 9:32am
Quoting busifx
{quote} Do you mean on the weekly timeframe.
weekly daily 4 hour doesn’t matter at this point in time it is clear
  • #745,405
  • May 12, 2023 9:37am May 12, 2023 9:37am
Quoting Pat Chiko
{quote} "this is a paradym shift in the us dollar!!" He even doesn't know what the words mean............... {image} Using some old recycle item just like posting hindsight chart to look smart. An old article written and trying to show his on different level...lol Since he cannot trade profitably, he's trying to show some other out of the world skill/knowledge...
Looks like we got ourselves another ....Maheeeeeeeeeeee
  • #745,406
  • May 12, 2023 9:38am May 12, 2023 9:38am
Quoting busifx
{quote} Definitely some funky stuff going on there. not sure why the usd would be appreciating.
That is why I consider Fundamentals to be a trap. By the time you decipher the news and join the fray the train has left the station. For those who read charts the dollar has been bullish for a couple of weeks.
Don't compare your trades to others. Most often the masses are the asses
  • #745,407
  • May 12, 2023 9:42am May 12, 2023 9:42am
Quoting MrFanciful
{quote} Indicators tend to cause me know end of trouble. I get a buy signal on one TF and a sell on another. If they work for others, fantastic. I just don't get along with them. Since I've ditched them, my losses are a lot smaller and profits bigger, and most importantly my stress level is a lot lower. I've started using 4 hour structure and I'm actually starting to enjoy it again.
U can opt for a strategy indicator that works on 4 hour t/f for further confirmation though. Maybe EMA or something.
Just simple one would do as well.
I've been looking at 4 hour t/f a lot recently. Trade's been doing better
Exhausted
  • #745,408
  • May 12, 2023 9:44am May 12, 2023 9:44am
DXy approaching 50 Day SMA. I think that will be our target for the day. The 200 is still out there for the coming weeks. Will close just shy of resistance and resume next week. I think the FOMC minutes are out soon. Should provide some fuel.
Don't compare your trades to others. Most often the masses are the asses
  • #745,409
  • Edited 10:01am May 12, 2023 9:45am | Edited 10:01am
Quoting sbmortimer
That's awesome! I hope to be this good someday. Right now I'm scalping and I'm happy to get the direction right. But I'm improving. {quote}
I've been in negative profits for one whole year.
Still negative but I'm starting afresh recently but applying previous experience and knowledge.
Current target is to breakeven my previous losses.
Still have a long way to go to be a profitable trader.
Exhausted
  • #745,410
  • May 12, 2023 9:46am May 12, 2023 9:46am
Quoting Waveskierrob
{quote} Looks like we got ourselves another ....Maheeeeeeeeeeee
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #745,411
  • May 12, 2023 9:47am May 12, 2023 9:47am
Quoting MrFanciful
{quote} Indicators tend to cause me know end of trouble. I get a buy signal on one TF and a sell on another. If they work for others, fantastic. I just don't get along with them. Since I've ditched them, my losses are a lot smaller and profits bigger, and most importantly my stress level is a lot lower. I've started using 4 hour structure and I'm actually starting to enjoy it again.
I get a buy signal on one TF and a sell on another.
LOL
Of course that happens OFTEN. For example, when H1 starts a swing down, EVERY TF smaller than H1 at that instant MUST also be going down. But not long after, RALLIES begin. And when a rally reaches M15, your indicator that is telling you DOWN on H1 is telling you UP on M15. Just becasue the M15 indicator says UP does not mean that you are supposed to be buying it: You need to understand that M15 RALLY is not going up to TREND up, but is going up for a BETTER PRICE from which to SELL as the H1 swing down continues.
To free Gazans of Hamas, use whatever it takes.
  • #745,412
  • May 12, 2023 9:50am May 12, 2023 9:50am
Quoting Pat Chiko
{quote} GU Bro, you cross the line too many times everything can change very quickly . . . . . . . {image} {image}
GU
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #745,413
  • Edited 10:03am May 12, 2023 9:51am | Edited 10:03am
Took a fairly risky trade because I missed two entries at 1.252 and 1.251. Let's see if this goes to 1.245
Fingers crossed.

Update: TP half at 1.2477
Remaining BE to 1.245
Took another half at 1.247 cuz I'm seeing some bulls coming in and I'm a pussy
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Exhausted
  • #745,414
  • May 12, 2023 9:51am May 12, 2023 9:51am
Quoting Elysion
{quote} I've been in negative profits for one whole year. Still negative but I'm starting fresh recently but applying previous experience and knowledge. Current target is to breakeven my previous losses. Still have a long way to go to be a profitable trader.
If a forex trader said that they started with anything but losses, I would doubt the truthfulness of the statement!
  • #745,415
  • May 12, 2023 9:52am May 12, 2023 9:52am
Quoting Pat Chiko
{quote} GU {image} {image}
Very impressive
  • #745,416
  • May 12, 2023 9:53am May 12, 2023 9:53am
Quoting Elysion
Took a fairly risky trade because I missed two entries at 1.252 and 1.251. Let's see if this goes to 1.245 Fingers crossed. {image}

holy why y'all gotta make trading this complicated
  • #745,417
  • May 12, 2023 9:54am May 12, 2023 9:54am
Quoting Pat Chiko
{quote} GU {image} {image}
Posting your trades before they happen..., what a novel idea ......good calls Patski...
  • #745,418
  • May 12, 2023 9:54am May 12, 2023 9:54am
Quoting Georginson
{quote} I think 1.2545 is very decisive today. Above 1.2545 will give the bulls very good chance to recover and even break 1.2680 high again, below 1.2545 will open path to 1.2450. Also noteworthy that since 1.2450 high got taken out, the biggest drop from higher highs have been 193 pips and this drop so far has recorded 184 pips (1.2680 - 1.2496) Last week's range was 215 pips, this current week range so far is 184 pips, if we are to equal last week range, then 1.2465 cannot be ruled out. Simply wait to see the action at 1.2545... above 1.2545...
Long taken from 1.2477, target 1.2527...
Second Buy limit at 1.2447, target 1.2477...
Data + Stat + Risk/Emotions Management
  • #745,419
  • May 12, 2023 9:56am May 12, 2023 9:56am
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Quoting LitEU
GU shorts 20pips SL, target 1.24
SL at BE, holding this for a while
  • #745,420
  • May 12, 2023 9:56am May 12, 2023 9:56am
Quoting georginson
{quote} long taken from 1.2477, target 1.2527... Second buy limit at 1.2447, target 1.2477...

same here my target 1.2550
MY OPINION NOT FINANCIAL ADVISE
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