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Cable Update (GBPUSD)

  • #838,181
  • Sep 14, 2024 6:06am Sep 14, 2024 6:06am
Quoting ScalaFX
Bitcoin hit my Be, good, better price to sell, opened 59732, SL 60600 target still 50k
SL holded, added one 60300 so when 59732 will hit I will close this for better risk reward
People don't plan to lose. They lose because they don't plan.
  • #838,182
  • Sep 14, 2024 6:47am Sep 14, 2024 6:47am
Quoting ScalaFX
{quote} SL holded, added one 60300 so when 59732 will hit I will close this for better risk reward
done, 60300 short protected at BE, lets see I can get huge profit on this trade to 50k
People don't plan to lose. They lose because they don't plan.
  • #838,183
  • Sep 14, 2024 7:12am Sep 14, 2024 7:12am
Viewing GBPUSD Chart from 6 hourly trend perspective, i will short GU with 3hr. candle close below 1.3109/4

However, i will switch to Buy with 3hr. candle close above last week/current pullback high. Breakout above 1.31587.

Let's see your own view as well.

Good day and nice weekend .
Market Structure is the King.....
  • #838,184
  • Edited 12:44pm Sep 14, 2024 7:26am | Edited 12:44pm
Quoting nAVIN2007
trading this pair is fucking crazy
Hi. Trading any instrument is crazy if you don't have a proven edge, (proven over a large representative multi-year sample of trades in the conditions it is designed to trade in.) Even when you have an edge you have to optimize your risk and trade management to it and then, you have to develop the necessary personal trading psychology to trade it profitably. That's all! Most don't even really know what a proven trading edge is, let alone have one, and rather than putting the work in to learn what one is and what you need to know about one, then get one that suits their own personality type and tolerances, they suffice with trading others' (with little-no real documented empirical evidence that it represents a real edge,) and/or what they think/believe will happen, (not understanding that you don't have to know this if trading with a proven edge,) and we all know where that inevitably leads, with very few exceptions.
Trader with an Edge.
  • #838,185
  • Sep 14, 2024 8:41am Sep 14, 2024 8:41am
Quoting Headland
{quote} Hi. Trading any instrument is crazy if you don't have a proven edge, (proven over a large representative multi-year sample of trades in the conditions it is designed to trade in.) Even when you have an edge you have to optimize your risk and trade management to it and then, you have to develop the necessary personal trading psychology to trade it profitably. That's all! Most don't even really know what a proven trading edge is, let alone have one, and rather than putting the work in to get one, that suits their own personality type and tolerances,...
" Post of the week"...

These are the sort of posts folks should be taking notice of, not posts with charts that show positions in profit after it's happened, no good to man or beast...love as always to all...
  • #838,186
  • Edited Sep 15, 2024 2:03am Sep 14, 2024 8:58am | Edited Sep 15, 2024 2:03am
Seeing the basic standard pa at this top, breaks previous low 3113 and hold , that is no fakeout then bear towards base again. Otherwise another bull leg still possible , the unexpected may expect ! Fakeout!
Market often like fakeouts!
so same pa probable . breaks and hold 3114 , the next sr 3100 and 3060 , having resistance nearest at 3157. breaks 3060 likely bottom test , breaks resistance likely run for short bull targets like before
Attached Image (click to enlarge)
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #838,187
  • Sep 14, 2024 9:26am Sep 14, 2024 9:26am
Quoting Waveskierrob
{quote} " Post of the week"... These are the sort of posts folks should be taking notice of, not posts with charts that show positions in profit after it's happened, no good to man or beast...love as always to all...
"Reply of the week"

People should work more instead of lurking here all day and reading what experts are writing.
  • #838,188
  • Sep 14, 2024 10:32am Sep 14, 2024 10:32am
Quoting JoshuaMUtai
I'm new and i surely need a mentor
Lets GO!
  • #838,189
  • Sep 14, 2024 11:20am Sep 14, 2024 11:20am
Quoting genadi
{quote} "Reply of the week" People should work more instead of lurking here all day and reading what experts are writing.
Sometimes a little bit of expert advice can benefits us more than anything.
More time in the market, does not mean you trade better!
  • #838,190
  • Sep 14, 2024 12:56pm Sep 14, 2024 12:56pm
Quoting HaLBot
{quote} Pretty simple really. ...................
i usually buy when price is going up and sell when price is going down
in wondering about yourself, you forgot what you came here to be part of
  • #838,191
  • Sep 14, 2024 1:56pm Sep 14, 2024 1:56pm
Hey folks , anyone who is currently in to AUD I find this to be a fascinating read
https://au.finance.yahoo.com/news/mu...051415396.html

Basically major banks in Australia are going ahead and cutting rates starting sept 20 and ignoring RBA . Seems great for AUD weakness and explain the drop on sept 6 on Audusd in which we just retraced to. Audusd looking good to drop
Master your mind. Master Trading.
  • #838,192
  • Sep 14, 2024 2:11pm Sep 14, 2024 2:11pm
Quoting genadi
{quote} "Reply of the week" People should work more instead of lurking here all day and reading what experts are writing.
Each to their own, I suppose...
  • #838,193
  • Sep 15, 2024 3:08am Sep 15, 2024 3:08am
Quoting Wavegarrick
Gu setting up for a major buy trade from 1.31000 from a 4 hr perspective. Cheers.
Hi Leon, do you have a target for this bulls?
this pair is act like crazy and wild, even it didn't want to drop below 1.3 with crappy data released on wednesday..
  • #838,194
  • Sep 15, 2024 4:26am Sep 15, 2024 4:26am
Quoting Wavegarrick
Gu setting up for a major buy trade from 1.31000 from a 4 hr perspective. Cheers.
1.31 is a clear support area on the 4hr. Be careful though if thinking of a new high. 3260ish is the top of the historical monthly range.
Bottom of this historical range is roughly around the 1.28 region from memory.
Compulsions can be hard to resist
  • #838,195
  • Sep 15, 2024 5:26am Sep 15, 2024 5:26am
each system takes into account different aspects, this is natural.

but I lean very much towards a bear bias.
1.30800.
H1, H4.
  • #838,196
  • Sep 15, 2024 5:41am Sep 15, 2024 5:41am
Quoting Waveskierrob
{quote} Each to their own, I suppose...
Each to their own, said the old lady when she kissed her cow.
  • #838,197
  • Sep 15, 2024 5:42am Sep 15, 2024 5:42am
Quoting Waveskierrob
{quote} Each to their own, I suppose...
Quoting genadi
{quote} Each to their own, said the old lady when she kissed her cow.
How do you guys get those many wonderful proverbs?

Lol, Brits at their best.
  • #838,198
  • Sep 15, 2024 2:14pm Sep 15, 2024 2:14pm
Hey folks! Im super geared up for the massive trading week ahead. good luck to all . My focus is shorting EU and selling AUD against major currencies if I can

market expecting 25 cut from feds a 50 is just out of the question and would be silly we already have the data leading up to this meeting so no reason for 50!
Master your mind. Master Trading.
  • #838,199
  • Sep 15, 2024 3:10pm Sep 15, 2024 3:10pm
GBPUSD price action on the daily time frame went sideways on Friday after bulls pushed back a bearish breakdown of the 1.30810 intra-day horizontal support. Although we may still see some bullish move within the 1.30810/1.32750 horizontal resistance zone (purple) in the early part of this week, the dominant technical structure is bearish.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
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Do your homework, follow the footprints of smart money
  • #838,200
  • Sep 15, 2024 3:21pm Sep 15, 2024 3:21pm
Quoting KareemAliFx
Hey folks! Im super geared up for the massive trading week ahead. good luck to all . My focus is shorting EU and selling AUD against major currencies if I can market expecting 25 cut from feds a 50 is just out of the question and would be silly we already have the data leading up to this meeting so no reason for 50!
EU could drag GU down too. Actually BoE Thursday will be interesting as it’s expected no cuts however if they do hint for cuts this year we could see a reaction downwards.

From a GU perspective it seemed we shot up due to commentary that Fed might cut 0.5 % rates on Wednesday so that seems to be priced however if it is just 0.25 then we could see a drop to 130 support areas.
Insane in the Brain..
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