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Cable Update (GBPUSD)

  • #746,301
  • May 18, 2023 8:41am May 18, 2023 8:41am
Once US 500 turns green, market optimism will take over for the day.

Edit: am short
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  • #746,302
  • May 18, 2023 8:59am May 18, 2023 8:59am
Quoting eyefeelsix
{quote} cut-reentry buy for medium to long-term only {image}

all ur sl will feed liquidity grab


next week might buy
MY OPINION NOT FINANCIAL ADVISE
  • #746,303
  • Edited 9:31am May 18, 2023 9:00am | Edited 9:31am
Quoting Fix-it
{quote} I have discipline , I only put on 2 trade a day If i loos i walk away if i win then i carry on. losses are to as small as possible.
Thats a good discipline there.
I tend to overtrade sometimes.
I might need to limit myself to only a few trades per day.
If I can consistently do 3 - 4 successful tradea per day it should be good. 20% x 4 trades = a hefty 384%
Last week I only look for good setups and had good winrates.
This Monday I had consecutive losses and made me go crazy and started not reading the PA correctly.
Exhausted
  • #746,304
  • May 18, 2023 9:01am May 18, 2023 9:01am
Quoting Elysion
{quote} Thats a good discipline there. I tend to overtrade sometimes. I might need to limit myself to only a few trades per day. If I can consistently do 3 - 4 successful tradea per day it should be good. Last week I only look for good setups and had good winrates. This Monday I had consecutive losses and made me go crazy and started not reading the PA correctly.
to be exact whole month is not easy trade for this month
  • #746,305
  • May 18, 2023 9:02am May 18, 2023 9:02am
Quoting Ferna
Once US 500 turns green, market optimism will take over for the day. Edit: am short
In long again.
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  • #746,306
  • May 18, 2023 9:05am May 18, 2023 9:05am
Closed both trades in profit when news released 5 min ago.
Quoting sbmortimer
I opened trades for Sell EURGBP 0.86869, SL 0.86988. Sell AUDUSD 0.66269. SL 0.66443.
Funded trader
  • #746,307
  • May 18, 2023 9:10am May 18, 2023 9:10am
Long EU 1.0778. So prices fell as I envisaged in my charts yesterday. Would have bought some GU but I loaded EU buys.
  • #746,308
  • May 18, 2023 9:12am May 18, 2023 9:12am
Quoting Bogdanoff
{quote} Closed BE, wait news try short Ger30{image} Cheers
Ger30 on track
will hold for a week then will see what happen
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2023-04-26 21441.png Size: 17 KB

Cheers
my loss is your gain
  • #746,309
  • May 18, 2023 9:18am May 18, 2023 9:18am
Quoting Mitiblotch
Long EU 1.0778. So prices fell as I envisaged in my charts yesterday. Would have bought some GU but I loaded EU buys.
What is the market waiting for? so much sideway, atleast equities started losing up.
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  • #746,310
  • May 18, 2023 9:21am May 18, 2023 9:21am
Quoting Ferna
{quote} What is the market waiting for?

It appears to be setting itself up for another day of chop.
Of course now that I have said that it should move!
  • #746,311
  • May 18, 2023 9:21am May 18, 2023 9:21am
Quoting Ferna
{quote} What is the market waiting for?
I don't have an idea. From my chart yesterday showing a falling wedge, price usually breaks below it to 'invalidate' the pattern before turning up and flying the other way.
  • #746,312
  • May 18, 2023 9:27am May 18, 2023 9:27am
At this point I would go and trade other pairs like JPY or Gold.
This tight ass move is gonna be here for a while.
Exhausted
  • #746,313
  • May 18, 2023 9:29am May 18, 2023 9:29am
Quoting Elysion
At this point I would go and trade other pairs like JPY or Gold. This tight ass move is gonna be here for a while.

yup! No signs of ever getting back to 12440-50
seems to be stuck
Insane in the Brain..
  • #746,314
  • May 18, 2023 9:30am May 18, 2023 9:30am
Quoting Mitiblotch
{quote} I don't have an idea. From my chart yesterday showing a falling wedge, price usually breaks below it to 'invalidate' the pattern before turning up and flying the other way.
Ah yeah! i saw that chart you posted did price break below that wedge?
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  • #746,315
  • May 18, 2023 9:35am May 18, 2023 9:35am
Quoting Elysion
At this point I would go and trade other pairs like JPY or Gold. This tight ass move is gonna be here for a while.
Dollar is slowly declining, Equities are all green now turning from all red. It should be close to a move soon-
Proably accumulating shorts.

I see price restrictening up now which could signal a big move.
Am of course an total amateur, so dont make any calls based on my "analysis"
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  • #746,316
  • May 18, 2023 9:37am May 18, 2023 9:37am
The poke below yesterday's low is not good. May suggest that W:5 is not finished yet.
Always trade your own plan...I don't provide trading signals.
  • #746,317
  • May 18, 2023 9:40am May 18, 2023 9:40am
Quoting Ferna
{quote} Dollar is slowly declining, Equities are all green now turning from all red. It should be close to a move soon- Proably accumulating shorts. I see price restrictening up now which could signal a big move. Am of course an total amateur, so dont make any calls based on my "analysis"
Yikes there came the big move!
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  • #746,318
  • May 18, 2023 9:43am May 18, 2023 9:43am
Quoting Ferna
{quote} Yikes there came the big move!

I smell signs of reversal.
Exhausted
  • #746,319
  • May 18, 2023 9:45am May 18, 2023 9:45am
Quoting Elysion
{quote} I smell signs of reversal.
Yeah but the 'risk' here is that if a bunch of people jump in, it keeps going down!
  • #746,320
  • May 18, 2023 9:46am May 18, 2023 9:46am
Quoting ForexGoose
{quote} 1.245 reached earlier, I'm now waiting for 1.238 to be tested {image}
1.238 should be the bottom today
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD_2023-05-18_10-44-43.png Size: 35 KB
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
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