Cable Update (GBPUSD)

hi sir, 15 pips its short term for sure
Current situation, theres not sign for reversal
For me 2740 area is strong suport
Maybe im wrong
Anyways my trade stopped
Cheers

If i'm on my pc, i will do exactly that. Luckily i'm away

THIS IS MY THOUGHTS ON EU ----- AND YES ITS A REAL TIME CHART NOT SOME AFTER THE FACT BULLSHIT FOLLOW AT YOUR OWN PERIL I COULD BE WRONG ---- BUT AT LEAST I CONTRIBUTE AND ITS NON CRYPTIC --- CHART SPEAKS
PS, this could even turn up from here. I scale in to bottoms and scale tops --- Like Waveskierrob says BIG BANK SMALL LOTS

Thanks!

Credit where credits due pal. AWESOME TRADE

It's not clear from what you have been reading???

Who else is in long off of last week's low?

This is a beautiful setup in my opinion. The first move of the week is south into last week's low, after a super slow Monday. Notice how the correction in price hit 3 hours before the US open. I imagine anyone looking to short the pair in the US is panicked, seeing that they've obviously missed out on a huge move. Lots of sellers in heavy, the dealer is building a net long position, buying from retailers at a discounted rate. Not to mention pending orders set to sell out at the break of the low.

If this is the case, I imagine there is going to be a strong reversal out of the zone, perhaps they'll use news as an excuse to rip price away form lower lever sellers.

75 Pip drop. Made it with a good gain as counter trend trader but was tough. Be careful it is summertime. Drop took more than 3 hours.
PA today completely crap. Often we get V-Formations after such a slow day down. Big Sellers not yet clean, they have to buy more up to lower their risk.
Let's see if they try to make a new low. Very dangerous for them because market seems to be thin, so little volume to catch down at 1.2758. And I wait there for them...

Gold long 1947.5
tp 1957.5

closed BE
new buy lim at 27500.

Very busy morning. I am trading the G$, $CAD, GA and EA. No time for contemporaneous notes as trades are taken, but lots going on ahead of several FAs. Keeping stops close and watching for further developments. Trade well everyone!
Edit: My limit was just hit on the EA so out of that one. The GA has retraced nicely and now moving forward again.

long again 1.2760, they really force it today, hope their pockets are deep enough.

earlier long trades got stopped out.

Now long with stop 2755

BT, yesterday GU made NR7/ID bar, and today's expectation was that we would see a big bar (up or down). If the weekly low will not hold 1.2700 is the first target.

Ok, I get ready for pullback, 80% sold from 1.2760 at 1.2765, 20% keep for correction up.
First target: 1.2775
Second target: 1.2784 (I will not leave it if it will not be reached in next 4 hours, than I close my position more lower if needed)

same. 1.28 area is termed by many as level of interest.

"Nobody ever went broke sayin' 'Good Mornin'' to folks." nice dump....

What I don't like as a retail trader: Huge spreads (e.g. GBP/USD: 1.5 pips vs. 0.7 pips for professionals (at least 1 lot trading))
Two days ago I had that situation:
My Trading was:
+$16
My Spread was:
-$20 (1.8 Pips)
So I had:
-$4
When I would have been professional I would had have a gain of $5-8 Dollars instead of a loss.
------------------------
The 2nd thing I don't like is professionals can use volume gaps to push market up or down. We can't.

What you see currently is they try to unwind (buy back) their short positions. And yes, they can do it because of time. We cannot do that as retail traders. For example: If market shoots up to fast they stop that by selling more. If market get's to the previous low areas they try to sneak in and close their short positions.
Just in that moment they have difficulties to buy more from the public so the market will push up more now. No fresh meat anymore for them to sell to.

My problem with that trading is: I never know when their pockets are empty so you never know how deep down / go up it will take. I think 1.2784 will be reached in next 4 hours. They will not risk more before news coming in in 45 mins.

Yes, it could definitely be improved. It hasn't been tuned yet and the data preprocessing may be able to be improved. Those should improve the results by themselves. Then I could always add more/better features, which could make a big difference. However, the results from the random forest model aren't too great. .84 is low for the R2, several of the other models are around .92 with the same data.