Cable Update (GBPUSD) | Page 37538 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #750,741
  • Jun 9, 2023 7:57am Jun 9, 2023 7:57am
I still believe GU will sell today…. H4 has a very strong bearish flag on it.
  • #750,742
  • Jun 9, 2023 7:58am Jun 9, 2023 7:58am
Quoting dazw6000
Forgive me as i am only learning, the main trend is def up (4H) we saw this little pullback on the 1H then continuation, might be pulling back no to tap into the 15m unmitigated OB and sweep some liquidity before continuing {image}

Price doesn't follow any chart.
Once you get good at reading charts you will be able to pick areas or prices where price is likely to go or return to.
You will also notice areas where price is likely to change direction.
There are loads of indicators to 'help', you have to find what works for you.
There are several posters on this forum with great advice and some that simply aren't as great, consistent or clear in their advice. Good Luck!
  • #750,743
  • Jun 9, 2023 7:58am Jun 9, 2023 7:58am
Quoting Whale
sellers will get a chance to enter.. build up on LTF
luck
first attempt
Attached Image (click to enlarge)
Click to Enlarge Name: IMG_4070.png Size: 67 KB
  • #750,744
  • Jun 9, 2023 8:05am Jun 9, 2023 8:05am
Quoting pipfarm
{quote} We are waiting for some more expert advice from the short traders when clearly the market was wanting to go up with timeframes aligned for longs
So between your words the experts are buying?
  • #750,745
  • Jun 9, 2023 8:07am Jun 9, 2023 8:07am
Some learning points for myself for next week.

Trading was going well earlier in the week. Taking trades according to my system.

Yesterday I took shorts counter to the trend. Whilst this isn't against my system (my system allows me to short/long at r2/s2 on daily and weekly timeframes. I over leveraged taking multiple trades and doubling my risk. Some trades were made prior to R2 being reached so a lack of patience plays a role and I also won't double my positions in this scenario next time.

Today my system went out the window. I shorted at 12575 with a SL at 12590. I will stay in the trade however my confidence is low and its a trade I shouldn't have taken. After this trade I will wait for next week.

Profit for this week will be a mere 1% if I am stopped out here instead of the 10% they should have been. Lesson's have been learnt, I will be sticking to my system in future.
  • #750,746
  • Jun 9, 2023 8:13am Jun 9, 2023 8:13am
i said this was going higher!!!
  • #750,747
  • Jun 9, 2023 8:15am Jun 9, 2023 8:15am
Quoting Scotteyy
Some learning points for myself for next week. Trading was going well earlier in the week. Taking trades according to my system. Yesterday I took shorts counter to the trend. Whilst this isn't against my system (my system allows me to short/long at r2/s2 on daily and weekly timeframes. I over leveraged taking multiple trades and doubling my risk. Some trades were made prior to R2 being reached so a lack of patience plays a role and I also won't double my positions in this scenario next time. Today my system went out the window. I shorted at 12575...
Good! We learn everyday in trading. Stick to your plan and it will come out good.
  • #750,748
  • Jun 9, 2023 8:16am Jun 9, 2023 8:16am
Quoting Scotteyy
Some learning points for myself for next week. Trading was going well earlier in the week. Taking trades according to my system. Yesterday I took shorts counter to the trend. Whilst this isn't against my system (my system allows me to short/long at r2/s2 on daily and weekly timeframes. I over leveraged taking multiple trades and doubling my risk. Some trades were made prior to R2 being reached so a lack of patience plays a role and I also won't double my positions in this scenario next time. Today my system went out the window. I shorted at 12575...
bro, it is just normal in trading, last week i been hardly hit by JPY after NFP because cannot belief it can go down eventually become so bullish, but finally i decide to cut before market close, after cut i only can think rational
  • #750,749
  • Jun 9, 2023 8:17am Jun 9, 2023 8:17am
One thing I have learnt in trading "DONT GO AGAINST THE HIGHER TIMEFRAMES TREND" and it has helped me long term.
  • #750,750
  • Jun 9, 2023 8:21am Jun 9, 2023 8:21am
Quoting princecaleb
{quote} Good! We learn everyday in trading. Stick to your plan and it will come out good.
I truly believe my system works, its just the physiological side of trading that I struggle with. Thanks for the comment.

Quoting alienguy123
{quote} bro, it is just normal in trading, last week i been hardly hit by JPY after NFP because cannot belief it can go down eventually become so bullish, but finally i decide to cut before market close, after cut i only can think rational
My system revolves around trading with the trend, only taking a counter trend trade at specific levels. A trending market can and will go higher/lower then most traders expect it to, hence going against it and trying to pick tops is usually a bad idea. I fell victim to that this week.
  • #750,751
  • Jun 9, 2023 8:22am Jun 9, 2023 8:22am
Quoting ninner
i said this was going higher!!!
you did
  • #750,752
  • Jun 9, 2023 8:23am Jun 9, 2023 8:23am
Quoting Scotteyy
{quote} I truly believe my system works, its just the physiological side of trading that I struggle with. Thanks for the comment. {quote} My system revolves around trading with the trend, only taking a counter trend trade at specific levels. A trending market can and will go higher/lower then most traders expect it to, hence going against it and trying to pick tops is usually a bad idea. I fell victim to that this week.
ya when i try to pick top or bottom normally i will pay a high price, now i very cautious on this issue
  • #750,753
  • Jun 9, 2023 8:27am Jun 9, 2023 8:27am
Quoting ninner
i said this was going higher!!!
Hey Ninner!!!
Loooks more like a short now though? Or am i living in the past?
You have an IQ lower than 90 if you interact with this user.
  • #750,754
  • Jun 9, 2023 8:33am Jun 9, 2023 8:33am
Quoting Ferna
{quote} Hey Ninner!!! Loooks more like a short now though? Or am i living in the past?

Didn't you say something similar 10 hours ago, only to have it go the other way?
  • #750,755
  • Jun 9, 2023 8:34am Jun 9, 2023 8:34am
Quoting dantpm
{quote} Didn't you say something similar 10 hours ago, only to have it go the other way?
sometime when i pick top to short or low to call, it sometime can wipe me another 150 pips LOLX
  • #750,756
  • Jun 9, 2023 8:39am Jun 9, 2023 8:39am
Quoting alienguy123
{quote} sometime when i pick top to short or low to call, it sometime can wipe me another 150 pips LOLX

Check out Scalafx, they tend to seed small buys or sells around the point they expect a pivot and go for a longer play.
  • #750,757
  • Jun 9, 2023 8:45am Jun 9, 2023 8:45am
Quoting dantpm
{quote} Check out Scalafx, they tend to seed small buys or sells around the point they expect a pivot and go for a longer play.
after try to pick top bottom, i feel it no so suit to my character, because if wrong sometime i tend to wait it back to my point instead of cut it

so the better way for me still buy when retrace, it make me know when to cut

although in practical still got bit itchy to try pick top bottom, but now i control myself to reduce it because i dono when to cut if i wrong LOL
  • #750,758
  • Jun 9, 2023 8:45am Jun 9, 2023 8:45am
Quoting JereMi256
{quote} Hey buddy, we might see a gap up on Monday (we had some red news concerning the US debt ceiling 7hr ago) followed by a consolidation for the rest of the day. I am leaning towards a bullish move to Decision Point 1.258
Looks like the award winning knucklehead is going to 1.258 tonight.

Please note; Update on Revision of my strategy
My medium to long term analysis is proving good but challenging since I am addicted to scalping whose one major problem is impatience. However i have gotten some serious beating by the live markets. Tough but promising journey!
No pain, no gain

Regards,
+256.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20230609-184737.jpg Size: 242 KB
Face 'ur fears & tame 'ur greed
  • #750,759
  • Jun 9, 2023 8:46am Jun 9, 2023 8:46am
In the 5 min time frame there is a triple top / bottom thing happening that suggests to me that one or two liquidity sweeps are coming up. Not sure if it goes up or down from here.
  • #750,760
  • Jun 9, 2023 8:46am Jun 9, 2023 8:46am
I was away I was actually taking a short vacation at Dubai Marina

Anyway this was missed

Solid trades taken during the course

GBPUSD

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 8 KB


Current Situation

Well I am in a Short trade and I expect the Target To Hit

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 4 KB


Target is Real Modest Currently around 1.25500 But it will fall down to 1.25000 it seems so Target can be extended upto that

USDJPY

Here is a Solid run with USDJPY during the course

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 10 KB


Current is a Buy Trade

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 5 KB


With Target Around 139.750

Ok Lets See How It Goes
HBS - Hussain Bin Salman
725 traders viewing now