Cable Update (GBPUSD)

Cheers manize.... lets see this bitch break my last line of defense, one more hit on the last frontier to the short side

is it the beginning of selling party?

I did, TP below 1.4929 !

... ... Nice

I did some sells too
hope it will breaks down

Hi

I think it will continue to rising.

I think it safe to sell, my 4h indi has show retracement mode,

Dow Jones is going down. and got finnally overbought in daily. We could see bearish for rest of week. Let try buy USD for now.

Buy stop 1.5003 tp: 1.5103

Risky business right there.

Dollar's down across the board. Unless dollar strengthens
go with the flow.

Anyone who took a short in 4990's with a stop just above into the 1.5000 is trading properly.

Institutions will cause large spikes in price into resistance levels to make us, the retail traders, believe the pair is still going up so that we start buying, allowing their large short orders to be filled. Since we cannot out number their large order, price will eventually fall as their supply greatly exceeds our demand.

Shooting star in 1h TF. a 100 pips retracement is coming maybe even a continuation of the drop

means it will drop to 48xx again?

Selling here... Target 1.4550.....

yes...finally it come to 1.5009,and touch 1h resistant line,now i add one more sell..

for the next 12hours I think bear will take over the market...

hmm touching 1500....

It's more advisable to wait for genuine reversal signal than to fight the trend. Long still in play even if the market looks elevated.
One can reverse anytime on a true sell signal!!!!!

what would you look for as a true reverse signal??

Confluence of evidence: i.e. if you have reversal signal in cable confirmed by dollar strength across the board.