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Cable Update (GBPUSD)

  • #769,021
  • Aug 21, 2023 1:24pm Aug 21, 2023 1:24pm
Quoting Ferna
{quote} +120 pip so far but small exposure. You trade this pair often?
Nice!

I don't really trade anything at the moment except those Daily trades I post in Journal. Don't have the time. Soon, I will have the time and will start trading properly.

I'm just following CHF/JPY, because correction should be happening soon and it's probably going to be hundred's of pips. I have some Long on Gold also, but outside of that nothing else.

When correction takes place plan is build the equity and from then on stop chasing "tops" and "bottoms" and start trading properly.

I'll post the trades on CHF/JPY when I get some serious signal price is about to make a deep correction.
  • #769,022
  • Aug 21, 2023 1:25pm Aug 21, 2023 1:25pm
Quoting TheWraith
1.2737 another buy will be added and that's it for today.
All of the three postions ended in a Loss which is expected since price is Ranging. It's important not to lose too much when price is Ranging, so I didn't go very heavy with those trades.
  • #769,023
  • Aug 21, 2023 1:28pm Aug 21, 2023 1:28pm
Quoting Zebi
{quote} im loving the parabolic rise on 15 min..always gets retraced so that confirms my bearishness here at the lows when it drops will probably take GU with it
Zone Line on Weekly is exactly somewhere around 1.26 maybe slightly lower. Price still cannot close above 1.278, so 1.26 still isn't out of the question. Once Daily closes above 1.278 then we can start talking about 1.33.
  • #769,024
  • Aug 21, 2023 1:39pm Aug 21, 2023 1:39pm
Another rangy nice day.
Waiting for the side who dare
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  • #769,025
  • Aug 21, 2023 1:43pm Aug 21, 2023 1:43pm
Quoting TheWraith
{quote} Nice! I don't really trade anything at the moment except those Daily trades I post in Journal. Don't have the time. Soon, I will have the time and will start trading properly. I'm just following CHF/JPY, because correction should be happening soon and it's probably going to be hundred's of pips. I have some Long on Gold also, but outside of that nothing else. When correction takes place plan is build the equity and from then on stop chasing "tops" and "bottoms" and start trading properly. I'll post the trades on CHF/JPY when I get some serious...
Maybe the daily is bullish engulfing now? I dont know the criteria though..
You have an IQ lower than 90 if you interact with this user.
  • #769,026
  • Aug 21, 2023 1:46pm Aug 21, 2023 1:46pm
Long still active on GU

Nothing has changed

W1 below MN1
D1 above W1 so current move is corrective until W1 breaks MN1
So we are still in swing 3 (impulse) of the D1/W1 swing which you can see on H4 but the true bottom lays on H1

Target is still around the 2845 area , above this W1 goes into MN1 and that area is still the old RBS to the left on D1
Follow The Markets Structure - Patience and Discipline
  • #769,027
  • Aug 21, 2023 2:01pm Aug 21, 2023 2:01pm
Quoting Fx3423454
Breakout City
...
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  • #769,028
  • Aug 21, 2023 2:02pm Aug 21, 2023 2:02pm
Quoting Waveskierrob
{quote} ... {image}
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  • #769,029
  • Aug 21, 2023 2:02pm Aug 21, 2023 2:02pm
GU still going
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  • #769,030
  • Aug 21, 2023 2:09pm Aug 21, 2023 2:09pm
no juice to the topside....
  • #769,031
  • Aug 21, 2023 2:11pm Aug 21, 2023 2:11pm
Quoting TheWraith
{quote} Nice! I don't really trade anything at the moment except those Daily trades I post in Journal. Don't have the time. Soon, I will have the time and will start trading properly. I'm just following CHF/JPY, because correction should be happening soon and it's probably going to be hundred's of pips. I have some Long on Gold also, but outside of that nothing else. When correction takes place plan is build the equity and from then on stop chasing "tops" and "bottoms" and start trading properly. I'll post the trades on CHF/JPY when I get some serious...
I would not be so sure about it dropping 100s , i estimate 100 down to the old support before going up 100s

D1 is above W1 there is a dip on D1 which has a nice abc correction on H4 this is indicative of an impulse move up with the first swing having already reached the top so a buy on the 4H pb is probably more viable

Same with EJ , no so sure about UJ
Follow The Markets Structure - Patience and Discipline
  • #769,032
  • Aug 21, 2023 2:11pm Aug 21, 2023 2:11pm
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yes yes yes
  • #769,033
  • Aug 21, 2023 2:14pm Aug 21, 2023 2:14pm
Quoting Waveskierrob
{quote} ... {image}
How come someone who is always “trolling” making money on a daily basis? these folks will never get it

good job
How to succeed in zero sum game?
  • #769,034
  • Aug 21, 2023 2:26pm Aug 21, 2023 2:26pm
Quoting Ferna
{quote} Maybe the daily is bullish engulfing now? I dont know the criteria though..
amazing trade, added more.
You have an IQ lower than 90 if you interact with this user.
  • #769,035
  • Aug 21, 2023 2:26pm Aug 21, 2023 2:26pm
Quoting pipfarm
{quote} I would not be so sure about it dropping 100s , i estimate 100 down to the old support before going up 100s D1 is above W1 there is a dip on D1 which has a nice abc correction on H4 this is indicative of an impulse move up with the first swing having already reached the top so a buy on the 4H pb is probably more viable Same with EJ , no so sure about UJ
It seems another rally is in motion yeah. I won't Short now. When I see a weakness I'll jump in.

We will come however, at some point to the price where going Short even 500 pips before the top is going to end up in a profit, because this rally has to have a deeper correction. USD/JPY was at 152 when it dropped to 127, so other currencies will too.
  • #769,036
  • Aug 21, 2023 2:32pm Aug 21, 2023 2:32pm
It's time to start adding Shorts on GBP/USD. SL somewhat above 1.28 and TP 1.26.

Gold has yet to drop to 1865, USD/JPY seems to be on another rally, so GBP/USD is very probably heading down finally.

Plan is to wait for rejection at Resistance at 1.278 and start adding those Shorts.

Volatility should start picking up now as important news are coming out tommorow and for the whole week.

Also price first went for Resistance and will probably make a fake breakthrough before it starts falling.

Price reacted to H4 Zone and dropped, meaning it's not yet ready to break through. Will be looking at 15M for Short confirmation and will add more when 30M confirms the same.

Buying at this point is out of the question.
  • #769,037
  • Aug 21, 2023 2:57pm Aug 21, 2023 2:57pm
major failure!!!
  • #769,038
  • Aug 21, 2023 2:58pm Aug 21, 2023 2:58pm
now we have to see how gu moves to the downside.
  • #769,039
  • Aug 21, 2023 2:59pm Aug 21, 2023 2:59pm
Quoting TheWraith
It's time to start adding Shorts on GBP/USD. SL somewhat above 1.28 and TP 1.26. Gold has yet to drop to 1865, USD/JPY seems to be on another rally, so GBP/USD is very probably heading down finally. Plan is to wait for rejection at Resistance at 1.278 and start adding those Shorts. Volatility should start picking up now as important news are coming out tommorow and for the whole week. Also price first went for Resistance and will probably make a fake breakthrough before it starts falling. Price reacted to H4 Zone and dropped, meaning it's not yet...
Realy?
  • #769,040
  • Aug 21, 2023 3:01pm Aug 21, 2023 3:01pm
Quoting thevisitor
{quote} Realy?
yes i agree with thewraith man......it wants to go downtown!!!
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