Cable Update (GBPUSD)

in some DD holding on to these shorts...

I prefer longer tf's,

Hi Genadi, all good, and you?

im expecting gold to trade long toward previous lows

entry:1932.50
sl:1929.15
tp:1950.34

Them cable shorts keeps me sweating.... tp set to breakeven .... come on cable ...... otherwise sooner gonna swallow this loss.....Dow holding till 35000 ... hoping to see a nice huge daily green candle after inflation data today.....Side note historically July is the positive month for DOW>..

That's is courteous to informal intro to my friend.

GU
End of scalping.

Woke up this morning, saw all trades taken out.
I'm getting too lazy to watch more than 2 hours of trading these days.

My day trading starts with Tokyo for 10 minutes, but I usually don't trade anything there.
London is the same, sometimes I don't even bother looking at it.
Read posting in FF a bit, to see if any good signal to copy trades.
I prefer to let the setup dictate my trades in New York, where the real moves happen.

The rest of the day is usually spent reading, meeting friends, drinking, eating, going to the gym, and sweet talking girls.

I think Peter's contribution today -- nothing -- is exactly what I had assumed we'd get. we got exactly what we would have received had he been posting today. Nothing. He has no analysis to share and no trade ideas to present. So, the participants of this thread have received PeterCaleb's best today. He knows nothing an has nothing to share. Well done Peter, you have contributed everything you are capable of contributing, and without the contemptuous attitude, false bravado, and nonsensical bullshit.

I am still in the B$ trade, although it hit my target at 1.2936. Next target is 1.2950. Good trading everyone!

GU

Some early view of GU interesting S&R level observation. We will revise the outlook as we move into Tokyo and London later.
But as it is now, this is my newbie view.
I'm interested in "pullback" in particular.

As far as pullbacks, almost all do.
I found that very interesting to say the least.
Although, in reflection it should not surprise anyone, as it is commonly accepted that a S&R breakout and trendline break almost always does a retest at one point or another.

I personally have found waiting on a retest of former support (of a breakout) on a larger time frame works better. (4 hr or 1 hr chart breakout.)
However, once I see this coming, I will switch to a lower time frame because it doesn't always get all the way there.

Nowadays, as a lazy trader, I sit back and take time to study the daily and weekly charts; look carefully for solid areas of S&R; aim to assess if the current move is a retracement or a possible trend change.
Having made my decision based on the points above I then consider whether to simply see a good set up or wait for further price action around my selected area.

As with all things in Forex, nothing is cast in stone.
Just because price rejected a support area three weeks ago it doesn't mean to say it will be rejected again.

A quick check in most charts would lead you to think that the first time back to S&R areas as high probability opportunities producing profitable trades simply by playing the bounce.
Yes, it does happen and quite often price will bounce two or three times and each time you could have made substantial pips and at the same time working with relatively tight stops.
But look carefully at any chart, and you'll see price, being price, will sometimes blast straight through these areas.

Here is my chart in trying to analyse what is going on with GU.
As much as I hate to look and analyse chart, this is the best I could do to find a decent set up for N3 and hope with some newbie luck ,I get thru the trades with some tiny profit.

The chart an analysis with it is not a trade recommendation, as I myself are not sure what price want to do for the next coming hight impact and data release event later today.

Wishing all of you with many big fat green pips today.

PAT chiko

Check out this pair.. NZDCHF LONG

Reason for trade: Liquidity

Now we wait in FAITH

Look into all JPY pairs... Trade in favor of JPY.. Leave out NZDJPY

USDJPY SHORT!

Quote of the day: The wiser you get, the less you speak..

good tip

We keep working and learning...

Thanks BeeTogether..

Can u please share the Renko setup ?

Trade is still running, and has moved past target at 1.2950. I've moved my stop to 1.2934. Watching closely. Next target is now 1.2994, and not sure I have given it enough room to get there. Might punch out soon and then wait for a pullback to get to next target. Also, I'm in the usd/jpy which has passed through target at 139.68.

2965
now pullback 20 pips at least 2940 zone