Cable Update (GBPUSD)

Looks like the bulls are back in. The US data was not good and helped the bulls add 40-50 pips from the day’s opening. If the rest of the data this week is green for USD I wouldn’t be surprised at a big drop

If bearish set-up is not found in this New York session, I will look to go long on GU tomorrow

I am not trading NY session,

But let me tell you.. it is too dangerous to assume price./ reversal

Just go with it.

navk, you're right on the money.

+ @ 1.2792

Still inside last week's range actually.
I have no trade positions yet.

Sold 1.2790
TP 1.2725
SL 1.2805

exactly Algorithms,
well said we traded actually on sentiment data and to be honest for me it was very fine day,
because we just dont trade gold we trade 17 pairs where opportunity arrives,
have a look,
about algo you maybe right, because mine certainly did well
Low leverage small lots,
slow and steady wins the race,
most people have goals targets daily weekly or even monthly targets,
that is in reality a bad thing at least that how investment companies look at trading,
they said never set a target even monthly target will get you greedy emotional and over trading,
end of the month even if you made 10% you are not good but great trader if you an keep it up Consistency is everything
thats what i learned from the market not sure how others survive but to survive in this market is harder then most traders may think or realize,
loos at your past check your last few years or just 1 year and see from start of 2023 till today how much was invested what was withdrawn and what is realized profit,
there is misconceptions about forex,
phytologically says,
when people invest for eg 10K you first goal is to double it,
it may take year that is fine,
after that you must withdraw your investment,
because if you dont even it your account reaches 100K your subconscious mind will not forget your money is at risk, and you are bound to get emotional,
trust me, they were not wrong,
they told me because i was managing their money but point is they dont trust the market this is liquid market and for retailers who trade with leverage, most of them cannot keep their account alive for a year,
ask your self if i am right or wrong,
i hope you will be honest with your self,
because sometimes most difficult thing to do is accepting your mistakes,

we always tell investors to withdraw asap after that you will realize how different it is to trade with profit instead of invested money,
because you got your money back in your bank and now you can invest it somewhere else also, it depends how you think,
anyways someone once said to me " getting rich doesn't start with in your Pocket, it starts in your mind"
few things sometimes a sentence from unknown person can change your whole life,
FOCUS TIME ENERGY DEDICATION PASSION
cost of Ambition is too much sacrifices which most are not willing to do,
please dont mind but
"truth can be stranger then Fiction sometimes"
everything changes,
those things never gets published anywhere, search google it,
only because if 80% will not loose then how the hell 20% will make money?

Good Luck guys.

i looked eur and gu goes to big trend daily gu 1.23 and eur the same. maybe more than 123- 1.21,i see 1.23. this move on eur was second top,eur arrow down on h4 on 16 may, will be second arrow down again.and on daily also but wait daily this is many days reverse.
eur stuck on 1.089.i think from here it goes to 1.06 or 1.0676.gu it touched low daily,eur no,gu may go to 1.25.but eur 1.06160.if eur goes down ,all goes down.i think gu 1.25 will be.not 1.23.
sooner or later gu goes to 1.23 on daily.now 1.25,after i dont know,but 1.23 we see.eur the same on daily.
before going down eur shoud touche 1.09220.it would be right.

SL hit 1.2720 + 10 pips
not good but a small provit for this swing
expected more to the downside..

Long as shown.........SL at 27 63 fttb............. First target 1. 28 28 --- Patience...........

Wondering who own the trading algorithms. Do they react to traders globally?

as make a new high over 2783 , so either maintain for tank next . now support goes to 2772 and 64 . confirmation top failure also. lets see , watching for 2764 breaks and hold if try avoid tanking then 2803/17 may test again if any good rejection waiting !

prop firms can fail just as FX brokers do fail ...and any other business do fail ....and scams are everywhere in any industry...the only strategy is to take your time and do a proper REVIEW....and find out the genuine one in the mkt, but prop firms are the solution to retail traders with low Capital to access huge capital to make huge money in this industry....you only need to prove yourself that you know the mkt and how to trade....there you don't gamble.....

lead Time frame
entry time frame
risk plan
patience
and repeat

https://www.investopedia.com/terms/o/otc.asp

With links to various specific markets. The underlying financial institutions vary as different banks and so on bid to run/host the exchanges.

Yes it is global.

Thanks for the link, Mr. Dan

yes, it's so easy

i think ,if look eur, eur goes now down h4 1.07810,after goes to 1.09220. i cant see 1.09220 now. gu will do the same. wait eur 1.09220,after it can be big way down.
gu can be 1.26580. eur and gu cant touch daily 1.28200 and eur the same. daily gu 1.28200 now. will be sideways on h4 and wait daily.

when you already knew u are here to take risk not gamble