Cable Update (GBPUSD)

Well, 2720 is obvious, but you are very good trader. I really need to learn from you.

Added a fat sell @1.2807

how fat?

Exited at 1.2784 +20 pips...

Poor US data could allow it to retest the 12840 area which on last 2 attempts resisted really well. A break above takes us to previous support area of 12870

Should I wait until CPI news is released to take the trade?
It's only one more day.

there is data today too, depending on how much you want to play on the volatility

Nope, that is in the hand of the market.
This is why sometimes when we place a profit target which we can perceive from market experience/backtests/or whatever system is used, the market either
#1 Stop out us immediately or
#2 Reach it or,
#3 Reach it only half way and reverse or,
#4 Reach it and continue trending in the direction
We dont control how price will unfold.

#1 Can be eliminated by trading the confirmation of your setup instead of the signal. You run lesser possibility of getting caught trying to catch top or bottom.

We have many books out there teaching us about risk control, but far best for profit taking technique and mix with psychology remain the book wrote by MD "Trade in the Zone." He gave a blueprint to a way of profit taking, we just need to arrange the mathematical formulae in such a way that it yields the best for us even when dealing with the worst case scenario.

That the way of mixing high reward to risk perceivable trade with a decent win rate.

If one want to bet only on his win rate, sooner than later, dude will find himself back to where he started and complaining about he did everything right but why it didnt worked? This cycle goes on as it took only one trade to blow up an account.

A very good target at 1.2720. If price is able to break the Support at 1.2740/1.2743

layered btc buy here

taken half before data I think can be green and push some optimizm to dollar, lets see

bad

yup not much of a spike though

I'm currently long on GBP/USD, would like to know what u guys think about my trade!
Cheers

my Sl still in play, adding to full position sell now with target around 2750

Sold 1.2799... target is open... Stop 1.2824

Checking pa post news , watching for sell again ! Take care

SL, riskied some profit, one more full 2811 SL 2825

Hi BeeTogether, what is your opinion on GU today this week?

To me market is currently in bullish momentum, but I don't see any strong sign of bullish trend yet. I think market is still in bearish trend unless 1.29400 is taking out.

wow my channel is way different than yours, glad i saw your chart haha