:: Cable (GBPUSD) Trend Trading ::

:surprised

1.9835 SL 1.9875 TP 1.9755. Last 1.9789.

Last 1.9777. But I wasn't confident so I didn't go with a Sell Stop. I am surprised at the speed.

I'm sitting here long and hoping it'll drop further to open my other Buy Limit at 1.9755. Sadistic or what? 5 open long in the crap for 16 each currently. Last 1.9781.

Last 1.9772 - a low for the hour finishing in a couple?

Low was 1.9770 here. Don't you just love profit taking?

Got the first one near enough. Will we go to 1.975 now?

I traded the breakdown from on high early morning NY session but second cased the downtrend, this always kills me now im gonna remain short and see if price can break the 9750 handle.

Either way we might be looking at a possible test of the TL consisting of the april 9th and april 14th swing lows... based on TD price projection target if we get followthru and it breaks we could see this fall back to the 9300 support zone at the very least... on the flip side price must keep making lower lows or stay beneath key resistance levels for the Downtrend to remain intact, upside risk is present due to longer term trend...

Massive macd diverengce on daily too showing the uptrend weakening points to lower prices the problem is timing the turn correctly or waiting for the turn\pullback and jumping in..

If it does break I would eye 9650 as next strong support level, due to 50% fib of the march 5th to april 17th swing up....

I haven't noticed you around before and with your post count I should have. I put it down to age. Thanks for your clear well thought out view. Personally, I'm finding this tough right now because it doesn't fit in with my MT view on the first post of this journal. It remains to be seen if I'll come out the other side and in profit here.

yep like i said we could get a potential bounce here due to strong daily TL form the lows I mentioned just zoom out to daily chart to see it,,, price is testing it now albiet its late in the day...

I was also thinking long on the initial breakdown because of yesterdays push up on cable, however uk inflation data plus not so bad us data has the capability to shift the tides, I think the smart money will pounce on the dollar the first chance it gets and we could see this shoot the other way pretty quickly I got stopped out several times today attempting long trades when my signal called to initially short the downside breakout, tunnel vision in this business KILLS.

So that's it from me today. I'm off for a great Indian meal at Brad Pitt's favourite Indian restaurant in the world! It's got to be true. The owner told me. See you all in 13 hours. 18 pips in the hole for each of 5 long open. Last 1.9779.

sorry for posting again guys, but if you look at the daily chart we are right on top of the swing high resistance levels from back in december 06 previous resistance level now acting as support... for now at least.

I've selected the part which I'll remember tonight over my jalfrezi. Thanks and bye to you all and particularly everyone who took the trouble to post. All views welcome. After all, I haven't got a clue!

17 pip open loss currently. 1 Buy Limit and 1 Sell Limit waiting to open. Last 1.9780.

6 closed trades this week for 120, 156, 108, 101 and 160 pips on 5 lots on each occasion. And a loss of 200 pips for 5 lots. 545 pips for the week so far. Got back the small loss from last week which brought me down to 703 pips for the previous three weeks. Journal to date 1248 pips over 4 weeks but we're still not going in the direction I anticipated.

Only one member has pulled me up so far on what he thought was an error with me recording profit. On closer examination he didn't recognise that I always enter with 5 lots and scale out. It was resolved to his satisfaction.

I started this journal because of flaky posts elsewhere regarding entries and exits with most members always appearing to be profitable. And catching things perfectly when in the real world, as can be seen here, that simply doesn't happen. But all I'm aiming to do here is make a profit and help a few people along the way. But it remains to be seen if I will end in profit at the end of this journal. In the market as it is right now I'm finding it tough going because it simply isn't going north the way I anticipated for the reasons outlined earlier.

Ladies and gents, have a great day. It looks like being a profitable week unless I'm really stupid. But that has been known.

Most, if not all, people would be delighted with 545 pips.

Great journal WOW.

But it is for 5 lots each time so in fairness it's not so great IMO. But I needed the 5 lots to make it safer. And it is a lot of work. It amazes me the amount of effort put in as a day trader to achieve that. Just be nicer if I'd decided to go with more than a dollar a pip. Maybe next time. And thanks for your kind words.

WOW, thanks for the calls. Its helping me alot. If I had my way it would be here for us for ever and another day. Please keep it coming.

Last 1.9755.