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Cable Update (GBPUSD)

  • #845,921
  • Edited Nov 21, 2024 1:16am Nov 20, 2024 10:40pm | Edited Nov 21, 2024 1:16am
so burst down finally , next target 2637 , abd next breakout target 2626

well done test retest 2637 done and 3rd time may breaks down. previous low 2630/25/12. waiting
Broken , 2630 , next should other level !
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #845,922
  • Nov 20, 2024 11:03pm Nov 20, 2024 11:03pm
Quoting ScalaFX
{quote} max extension for EU is near 0350-30, I will definitely long big there
Cheers...I can sit out the storm, SHORT scalping as I go...
  • #845,923
  • Nov 20, 2024 11:06pm Nov 20, 2024 11:06pm
Looking to short GU on the ground that the medium term trend is down and the daily candlestick is also showing bearish sentiment.

I will short GU now if certain technical settings are achieved or alternatively wait until price touch of 1.2662/72.

Have a nice pipping day all.
Market Structure is the King.....
  • #845,924
  • Nov 20, 2024 11:31pm Nov 20, 2024 11:31pm
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yes yes yes
  • #845,925
  • Nov 20, 2024 11:41pm Nov 20, 2024 11:41pm
Quoting Abeylyn
Looking to short GU on the ground that the medium term trend is down and the daily candlestick is also showing bearish sentiment. I will short GU now if certain technical settings are achieved or alternatively wait until price touch of 1.2662/72. Have a nice pipping day all.
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Short GU @ 1.2650. Price failed to pullback to 1.2662/72 zone therefore my stop loss will be high to accommodate the gaps.
Market Structure is the King.....
  • #845,926
  • Nov 21, 2024 12:09am Nov 21, 2024 12:09am
A nice 10pip short on the GU. Black line is bearish order block median threshold, within a 1m sell-side inefficiency. Price seemed to respect it quite nicely ...
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Don't you know that I'm loco ...
  • #845,927
  • Nov 21, 2024 12:12am Nov 21, 2024 12:12am
Quoting Waveskierrob
{quote} Getting arsed spanked by EU and not in a good way...
If I posted here how much £ my account is in drawdown on the EU (since Oct. 3), I'd probably get kicked off FF. I'm in deep sh*t with it. Own stupid fault
Don't you know that I'm loco ...
  • #845,928
  • Nov 21, 2024 12:34am Nov 21, 2024 12:34am
Quoting RedAllOver
{quote} If I posted here how much £ my account is in drawdown on the EU (since Oct. 3), I'd probably get kicked off FF. I'm in deep sh*t with it. Own stupid fault
All depends on how much you can afford to lose, should never trade with worried money, the fact that you are open about it and take blame shows you are on the right track, most blame the market, banks or institutions, there's also a guy (wont mention any names, but I think he's a English grammer school teacher ) on here that is also in a massive downdraw on GU, although he wont post it....I appologize for and spelling or grammer the reason is I have "Sex daily"...no sorry "Dyslexia"...
  • #845,929
  • Nov 21, 2024 12:39am Nov 21, 2024 12:39am
Not a big profit, but 90 pips for 12 days is nice,
and if you go progressively, which means that for each day of lossing ,
the leverage is multiplied by next day previous day,
so if you make a profit on the second day,
you get back both the loss of the previous day and the original profit,
and so it turns out that in those 12 days it was possible to earn 240 pips because there are no two days of two consecutive losses.
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yes yes yes
  • #845,930
  • Nov 21, 2024 12:45am Nov 21, 2024 12:45am
Quoting ScalaFX
{quote} no! Keep holding is keep holding, my target 97k was hit, fat money now I will short some fat too becouse I think 100k will not been hit like that, time for some correction, cheers ps. After 80-73k BTC will be ready for 134k
Gotcha. Were you selling real bitcoin that you owned from a wallet with your own personal keys, or trading it from your broker platform, same as your FX trades?

What made you exchange at 97k?

What do you base your 80-73k retracement prediction on?

What do you base your 134k future prediction on?

Emotional Control. Process, not outcome.
  • #845,931
  • Nov 21, 2024 12:56am Nov 21, 2024 12:56am
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I added longs in both here, now . SLs as shown.....................

  • #845,932
  • Nov 21, 2024 12:59am Nov 21, 2024 12:59am
Quoting Waveskierrob
{quote} All depends on how much you can afford to lose, should never trade with worried money, the fact that you are open about it and take blame shows you are on the right track, most blame the market, banks or institutions, there's also a guy (wont mention any names, but I think he's a English grammer school teacher ) on here that is also in a massive downdraw on GU, although he wont post it....I appologize for and spelling or grammer the reason is I have "Sex daily"...no sorry "Dyslexia"......
I'd prefer the former thanks . Thanks for the words, it's much appreciated.

I can't afford to lose it, but I have enough in the bank from a house sale to keep the free margin in a good place. Ever hopeful it will reverse at some point soon, but growing more fearful that it will require a massive geopolitical earthquake to move the needle on the EU and it's just not going to happen ... I've moved to trading the GU to give my head space to operate without bias but really struggling to short it, knowing what it likely means for the EU.

Went back to basics recently and slowly getting there, with the help from my Trading in the Zone & Disciplined Trader books. If anyone's interested, I drew out the key mental components of Trading in the Zone, that I pour over every day now. It really helps me personally.




N.B. Feel free to delete this post if it's not aligned with the topic
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Don't you know that I'm loco ...
  • #845,933
  • Nov 21, 2024 1:17am Nov 21, 2024 1:17am
Long gold at 2670. I know it’s the top at the moment however a break above 2700 is not far. Judging by golds performance this week it could be an area to maybe short from too
Insane in the Brain..
  • #845,934
  • Nov 21, 2024 1:31am Nov 21, 2024 1:31am
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BP. stoped at SL ..... E. not yet.....

Only JY is giving me money..................

  • #845,935
  • Nov 21, 2024 1:35am Nov 21, 2024 1:35am
This thing is toast. Potential for 1.2300 before Christmas. Then lower still.

The UK outlook is bleak. The Labour budget is dragging down the pound, with inflation risks rising as retailers pass on tax increases from NI hikes. Combined with anticipated energy price rises, hot CPI seems likely possibility.

Upcoming monthly and Q4 GDP data could also disappoint, businesses held off spending in fear/anticipation of the budget, and were further spooked once it was announced.

Business confidence and spending are weakening, in stark contrast to the incoming pro-business, deregulation-focused U.S. administration. USD demand will outpace GBP quickly.
  • #845,936
  • Nov 21, 2024 1:43am Nov 21, 2024 1:43am
Quoting Konichiwhaat
{quote} Gotcha. Were you selling real bitcoin that you owned from a wallet with your own personal keys, or trading it from your broker platform, same as your FX trades? What made you exchange at 97k? What do you base your 80-73k retracement prediction on? What do you base your 134k future prediction on?
trade it like fx, in crypto wallet have others. why this numbers? fundamentals, psychological levels, simple mesurments, like always
People don't plan to lose. They lose because they don't plan.
  • #845,937
  • Nov 21, 2024 1:50am Nov 21, 2024 1:50am
Quoting EntityFX
This thing is toast. Potential for 1.2300 before Christmas. Then lower still. The UK outlook is bleak. The Labour budget is dragging down the pound, with inflation risks rising as retailers pass on tax increases from NI hikes. Combined with anticipated energy price rises, hot CPI seems likely possibility. Upcoming monthly and Q4 GDP data could also disappoint, businesses held off spending in fear/anticipation of the budget, and were further spooked once it was announced. Business confidence and spending are weakening, in stark contrast to the incoming...

Euro looking to be in the same boat, go woke go broke....
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Don't Leave Money on the Table
  • #845,938
  • Nov 21, 2024 1:50am Nov 21, 2024 1:50am
Quoting firsttimer
{quote} thanks for order flow. yup not easy for bulls. trend line will disturb or slow the bulls. {image}
Yep the swing broke to the downside so no longs at the moment
Follow The Markets Structure - Patience and Discipline
  • #845,939
  • Nov 21, 2024 1:54am Nov 21, 2024 1:54am
GBPUSD made the minor correction on H1 as a triple on m5 ( some kind of wedge - unusual) and then a trend down


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Follow The Markets Structure - Patience and Discipline
  • #845,940
  • Edited 2:28am Nov 21, 2024 2:01am | Edited 2:28am
Though likely no stop bear , still close at previous low to have rest and morning session done. Smaller tf to see where put pending before sleep if activate !
It was tough decision go against daily bull intention others and usdx bull candle earlier ! Ultimately go against !: the low it go now will increase the risk of some or more bouncing! To o practice more precaution with perfect sl.! Take care

Usdx correct also ok and pullback doing up but further correction likely next , possibly. So others likely bounce strong possible !?
Pullback to bull back usdx but again to go against bull! hope not breaks previous top !!
So more possibly bounce restart than to further more bear leg, little to 2600 may ok !
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Not understand?better not follow my analyses!doubt clearer first, risks ++
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