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Cable Update (GBPUSD)

  • #752,421
  • Jun 16, 2023 6:54am Jun 16, 2023 6:54am
Quoting Whale
{quote} keep the optimism, im very pessimist so i use sl. any way dxy on support, GU idk, the history of GU here is hard to read for me.
there is currently divergence with dxy

i think a pre-ny liquidity grab but, anyones guess
dxy would have to hold on the m15 demand here for that to play
  • #752,422
  • Jun 16, 2023 6:56am Jun 16, 2023 6:56am
Quoting mysterio
{quote} there is currently divergence with dxy i think a pre-ny liquidity grab but, anyones guess
Last 2 1hr candle makes HL, hard to say if LQ Grab.
More time in the market, does not mean you trade better!
  • #752,423
  • Jun 16, 2023 7:00am Jun 16, 2023 7:00am
Quoting Fardeen1209
{quote} Last 2 1hr candle makes HL, hard to say if LQ Grab.
true,i'd wait for some displacement on dxy from current level to confirm if this is the case
it is friday afterall
  • #752,424
  • Jun 16, 2023 7:02am Jun 16, 2023 7:02am
Quoting mysterio
{quote} there is currently divergence with dxy i think a pre-ny liquidity grab but, anyones guess dxy would have to hold on the m15 demand here for that to play
yap but i decided to quit trying.
im down 52 pips and i started my trading on Wednesday.

the minor consolidations on the highs had the same results over and over again.
so no correction, no trading.
  • #752,425
  • Jun 16, 2023 7:04am Jun 16, 2023 7:04am
1.2836 - 1.2866 - 1.2872

All are sma's touching on HTF's. W, M and 3M.

IMO, This 35 pips is manipulative and will test your patience.
  • #752,426
  • Jun 16, 2023 7:06am Jun 16, 2023 7:06am
Pound just seems incredibly strong right now...Insane
  • #752,427
  • Jun 16, 2023 7:06am Jun 16, 2023 7:06am
I have closed my fourth sell with minus 10 pips. And also fully hedge my previous sells .. I'm currently in minus 25%, I can't tolerate more than this . Hedging will suspend this account till calm is seen.
Data + Stat + Risk/Emotions Management
  • #752,428
  • Jun 16, 2023 7:09am Jun 16, 2023 7:09am
Quoting sakimer
GU: Can we see it as a gradual rise? {image}
I didn't see this triangle earlier. Immediately I saw it I knew shorts were in trouble.
  • #752,429
  • Jun 16, 2023 7:09am Jun 16, 2023 7:09am
1.289 monthly R, will hold? Idk.
  • #752,430
  • Jun 16, 2023 7:11am Jun 16, 2023 7:11am
I am honestly shocked at how many people are trying to sell this when it hasn't remotely looked like reversing yet. 92% of retail traders are short which correlates with what I see on here. Whilst such a huge number are short, GBPUSD will likely continue to rise.
  • #752,431
  • Jun 16, 2023 7:11am Jun 16, 2023 7:11am
Can somebody stop GU.
already 50% drawdown.
  • #752,432
  • Jun 16, 2023 7:13am Jun 16, 2023 7:13am
Attached Image (click to enlarge)
Click to Enlarge Name: 6.PNG Size: 29 KB
Some advice to you all.
Stop trying to pick tops and bottoms, if a market is bullish, stop trying to sell it. If a market is bearish, stop trying to buy it. You will be right far more often if you trade WITH the market, rather than AGAINST it. And yes you will be occasionally wrong when it does turn around, but that's a part of trading.

TP hit, +300 pips. Done for the week
  • #752,433
  • Jun 16, 2023 7:17am Jun 16, 2023 7:17am
Quoting TheForexDen
Sinceramente, me sorprende la cantidad de personas que intentan vender esto cuando aún no parece que se haya revertido ni remotamente. El 92% de los comerciantes minoristas son cortos, lo que se correlaciona con lo que veo aquí. Si bien un número tan grande es corto, es probable que GBPUSD continúe aumentando.
Hello !! I just think exactly the same as you, these days I have used that contrary feeling and it has gone very well for me, today I applied it again and I am doing well, I think that as long as everyone is selling the pound it will continue to rise.
  • #752,434
  • Jun 16, 2023 7:18am Jun 16, 2023 7:18am
Another day same bullish scenario .
upside targets anyone?
1.29?
on a postive roll...
  • #752,435
  • Jun 16, 2023 7:18am Jun 16, 2023 7:18am
Quoting Bella.al
{quote} Nothing much is happening, i am still looking at the Bella's Trend-0.25 Resistance : 1.28161 .. Trading Time in GMT : 13:38PM Day = Friday ( Bella's God of Fire ) Bella's GMT Switch v1.6 {image}
Current Rate : 1.28433

This time around Bulls took that resistance Bella's Trend-0.25 : 1.28161 and now hovering above it .
still waiting for my trading time to arrive about an hour or so.

Bella's GMT Switch v1.6

Attached Image (click to enlarge)
Click to Enlarge Name: GMT_Switch_01.png Size: 15 KB
Goddess of Thunder..
  • #752,436
  • Jun 16, 2023 7:19am Jun 16, 2023 7:19am
Quoting Rmg
Another day same bullish scenario . upside targets anyone? 1.29?

1.2880?
  • #752,437
  • Jun 16, 2023 7:20am Jun 16, 2023 7:20am
Quoting EtzzyPoo
{image}Some advice to you all. Stop trying to pick tops and bottoms, if a market is bullish, stop trying to sell it. If a market is bearish, stop trying to buy it. You will be right far more often if you trade WITH the market, rather than AGAINST it. And yes you will be occasionally wrong when it does turn around, but that's a part of trading. TP hit, +300 pips. Done for the week
nice, where did you post your entry ?
  • #752,438
  • Jun 16, 2023 7:21am Jun 16, 2023 7:21am
Quoting Bones
{quote} The weekly is a great chart for someone like you, George (for bias)
Thanks, as a short term scalper I forgot weekly is also crucial.
Weeklu is obviously in a upwards move for GU.
Exhausted
  • #752,439
  • Jun 16, 2023 7:21am Jun 16, 2023 7:21am
SHORT in at 1.2825.. sl of 15 pips
targeting 45 pips.
  • #752,440
  • Jun 16, 2023 7:25am Jun 16, 2023 7:25am
Quoting Georginson
I have closed my fourth sell with minus 10 pips. And also fully hedge my previous sells .. I'm currently in minus 25%, I can't tolerate more than this . Hedging will suspend this account till calm is seen.
ała, Im cutted all at 2720, minus 7000$, some taken back from scalps longs, now selling again 2840, bulls congratulations!
People don't plan to lose. They lose because they don't plan.
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