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Cable Update (GBPUSD)

  • #804,261
  • Jan 22, 2024 11:47am Jan 22, 2024 11:47am
Since "Traderview" in the "EUR/USD only" forum emphatically declared that EUR/USD will test 1.10 before ECB on Thursday, I felt the need to re-evaluate the price action.
If the 5 min 200 SMA line at 1.08964 doesn't hold, then more up we go.
If the 15 min 200 SMA line at 1.0886 doesn't hold, then more down we go.
Next resistance for bulls is 4 hr 200 SMA at 1.09200. If that fails, then 1.10 is on the cards. Then after that we drop to 8 hr 200 SMA at 1.08345, which is already below Day 200 SMA. If that breaks, lower to 1.06 area. Just a thought
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You cannot fail if you never give up.
  • #804,262
  • Jan 22, 2024 11:48am Jan 22, 2024 11:48am
Quoting donfriday
before going for prop firm make sure you are already a successful trader and you have a plan to pass the evaluation prop drive from a talent hunt not a casino house they are looking for traders who can manage funds but the only way you can introduce yourself is by passing the evaluation test. why in the world you want to trade prop firm when you are still a novice
Also in my humble opinion based on my personal experience. Prop firms are good to become a DISCIPLINED TRADER. With all those restrictions if a trader takes it positively. It helps with the Psyche/emotional trading.
Extreme gut feeling trader
  • #804,263
  • Jan 22, 2024 11:49am Jan 22, 2024 11:49am
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Fools Rushing
  • #804,264
  • Jan 22, 2024 11:50am Jan 22, 2024 11:50am
Quoting _BBKing_
{quote} that's what the 97% of people don’t really understand
not just prop firm ... trading in general... If your not profitable with demo first atleast for 6 month. Won't ever make a dime with real money on long term......
Extreme gut feeling trader
  • #804,265
  • Jan 22, 2024 12:28pm Jan 22, 2024 12:28pm
Quoting montygoldy
{quote} not just prop firm ... trading in general... If your not profitable with demo first atleast for 6 month. Won't ever make a dime with real money on long term......
100% agree
90% of traders use TA, indicators and prediction
  • #804,266
  • Jan 22, 2024 12:36pm Jan 22, 2024 12:36pm
Quoting Pat Chiko
{quote} GU As usual GU moves at its own pace, slowly and steady, trapping seller along the way First target taken Partial TP. Going for second target @ OB, H4 BSL Trade safe and enjoy your trading. {image}
It was a serious trapping
  • #804,267
  • Jan 22, 2024 12:52pm Jan 22, 2024 12:52pm
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  • #804,268
  • Jan 22, 2024 1:07pm Jan 22, 2024 1:07pm
Quoting MTF Test
{image}
Closed
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Fools Rushing
  • #804,269
  • Jan 22, 2024 1:23pm Jan 22, 2024 1:23pm
Quoting 7154Superman
Since "Traderview" in the "EUR/USD only" forum emphatically declared that EUR/USD will test 1.10 before ECB on Thursday, I felt the need to re-evaluate the price action. If the 5 min 200 SMA line at 1.08964 doesn't hold, then more up we go. If the 15 min 200 SMA line at 1.0886 doesn't hold, then more down we go. Next resistance for bulls is 4 hr 200 SMA at 1.09200. If that fails, then 1.10 is on the cards. Then after that we drop to 8 hr 200 SMA at 1.08345, which is already below Day 200 SMA. If that breaks, lower to 1.06 area. Just a thought {image}...
One more support level to break and hold below before dropping to new low. 30 min 200 SMA
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You cannot fail if you never give up.
  • #804,270
  • Jan 22, 2024 1:44pm Jan 22, 2024 1:44pm
Quoting 7154Superman
{quote} I didn't have time to trade much today, and did lose a small amount of net equity due to bad positions and EUR/USD price did not exactly go as expected. I'm not gonna be able to keep monitoring things today, so I closed all my open positions for today and this week, regardless of drawdown or profit. I will update my Trade Explorer later today after work. Live Accounts start with $100 and Demo $100k. Current Net Equity results from best to worst: #1 Live $136.50 (+36.50%) (13 trading days) #4 Live $119.32 (+19.32%) (3 trading days) #3 Live...
So far, today, I scalped 4 shorts and 1 long on EUR/USD.
I closed all my shorts now with good profit. I have other things to do for the rest of today. Will try again during Asian session.

Live Accounts start with $100 and Demo $100k.
Current Net Equity results from best to worst:

#1 Live $136.50 (+36.50%) (14 trading days)
#4 Live $119.32 (+19.32%) (4 trading days)
#3 Live $111.26 (+11.26%) (6 trading days)
#6 Live $110.98 (+10.98%) (3 trading days)
#5 Live $109.60 (+9.60%) (4 trading days)
#7 Live $98.30 (-1.70%) (3 trading days)
#2 Live $91.82 (-8.18%) (8 trading days)

Combined results for live accounts:
Deposit = $700.
Net Equity = $777.78
Profit = $77.78 (+11.11%) (3-14 trading days)

#8 Demo $107,802 (+7.80%) (12 trading days)
You cannot fail if you never give up.
  • #804,271
  • Jan 22, 2024 1:46pm Jan 22, 2024 1:46pm
So finally cable made a clean 30+ pips move
90% of traders use TA, indicators and prediction
  • #804,272
  • Jan 22, 2024 2:02pm Jan 22, 2024 2:02pm
Looks like it want to go down
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yes yes yes
  • #804,273
  • Jan 22, 2024 2:02pm Jan 22, 2024 2:02pm
Quoting _BBKing_
So finally cable made a clean 30+ pips move
getting ready for tomorrow….
Insane in the Brain..
  • #804,274
  • Edited 2:18pm Jan 22, 2024 2:04pm | Edited 2:18pm
Daily Eur and Gu bearish. Channel H4 Gu goes down slowly -upper border. I was in long if look H4, it should go somewhere up, but it can drop at any time according to daily. Better look where to sell. i think drop till 1.24. or maybe more if look daily. maybe gu will be 1.27700 before.
I look , maybe optimistic- about 1.24700(+ -), and after up. because 1.29 didnt touch on daily.
  • #804,275
  • Jan 22, 2024 2:34pm Jan 22, 2024 2:34pm
Quoting montygoldy
Trying long at us30 feels like retracement is done time to fly
still holding.. gonna hold for tomorrow
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Extreme gut feeling trader
  • #804,276
  • Jan 22, 2024 2:54pm Jan 22, 2024 2:54pm
Quoting BeeTogether
{quote} getting ready for tomorrow….
I Guess the fun Will start wednesday
Tomorrow maybe some moves to setup and check orders
90% of traders use TA, indicators and prediction
  • #804,277
  • Jan 22, 2024 3:40pm Jan 22, 2024 3:40pm
Quoting _BBKing_
{quote} I Guess the fun Will start wednesday Tomorrow maybe some moves to setup and check orders
yeah I think so.. a 50 pips range today very slow. Might close bullish however only just so a fair bit for tomorrow to deliver.
Insane in the Brain..
  • #804,278
  • Jan 22, 2024 3:52pm Jan 22, 2024 3:52pm
H1 is clear bear again now..im pretty sure 2650 for today...maybe drag by BOJ..
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  • #804,279
  • Jan 22, 2024 4:20pm Jan 22, 2024 4:20pm
Quoting MrFanciful
{quote} My view on prop firms is that they play of peoples desire to get rich quick by skipping the build-your-account phase. If you have a good strategy, you should get your account to the level you get from the Prop firm. I just can't get the good strategy part, so a prop firm would be of no help at all.
Risk management / dicipline is key to success especially in prop trading.

This will come after some period after blowing some accounts
Intraday only.
  • #804,280
  • Jan 22, 2024 4:21pm Jan 22, 2024 4:21pm
Quoting QiaoFeng
{quote} Hi, why would Bank of Japan have an impact on GBP? Thank you.
if jpy moves will affect the gbp jpy cross.
so eventually this will have influence in the gbp
A stronger jpy could weaken gbp.
and opposite of course

major influence for gbp, however, is the eur and the usd.
90% of traders use TA, indicators and prediction
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