Cable Update (GBPUSD)

anybody short yet? or still waitin ;-)

High yield currency maby, people still optimistic so they invest in high yield currency as aussie, and aussie have the highest yield if i'm right....

minimum requirement for that is 6000 pips in less than 24 hours...lol

cya bro

aud and gold have a strong correlation

also easy one usd .25 % interest rate
AUD 3%

audusd is a strong carry trade now and maybe part of why aussi economoy is moving along very well

Hey Guys,
I wanted to share this with all of you. Try to make it short.

I am hooked on FX. I do not always trade, but look at charts, fundamentals, since I have started. My approach to the overwhelming Forex market was to dive in. Read, demo, watch, learn. (I do not know personally any FX traders, besides you fine people)

Initially I thought that the way to go was M1 thru M15. The constant "noise"
was exciting and I instantly saw (or thought I did) many chances to trade and take pips throughout the day.

Yes, sometimes high TF can be boring to watch however I enjoy watching the charts, creating my own methods/ rules, learning my own style.

Currently I am using 2 demos and have a small live account I don't really use yet.

On Thursday of last week I decided to try something new. Scalping was basically losing me money. The longer term trades I took, using M5 M15 for entry were beginning to profit. (day trades)

SO- I decided this These are the results:

Demo 1= only for day trades / longer term scalping attempts.
Loss made up, slightly above starting balance. Lost appx 20 pips today
Made about 6 back. FLAT as of now

Demo 2= for Higher TF, Weekly, daily, using lower for entry.

The best trade I have made to date.
Cable short - 3 days - 3 lots - total pips gain= 1318
This trade alone blew away total pips ever by scalping.

The trade I am in now: From Last nite
Took a long after confirmation (a bit late to some)
Long Cable - @.5890 3 lots - current +70 pips x 3 = 210 appx
Long Cable - @.5895 1 lot - current + 65 pips - net total 275 pips
Was going to exit earlier.

Edit: on both trades the SL was Extremely small compared to the TP with consistent monitoring of trades

Live- with caution or not at all right now. (Used Friday.) FLAT as of now
(I take this very seriously - to any new traders the losses are as real as gains)

I hope this is insightful and helpful to you guys. I hope to be sharing more TA soon. Thank you again to all the fine traders that have taken the time to
discuss FX with me! I am not against scalping. Just trying to share my experience as of yet.

Sorry for long post- cable still flat!

Malc

we have a party 4H chart... then if we're not going to 1.61, the party is over or no one bought the drinks?

Malcomb, DT, good analysis. thanks. I think all eyes are on these key areas.

we have bear flags inside of bear flags on my chart. lol

If we break north out of the narrow channel like it did earlier 1.600 is my target, if we break the top of the larger channel, my target is 1.614, where the 200ema (green line) is sitting now. (chart 2) Overall, I'm very bearish, but looking for the correction to finish at either of these 2 points before the drop.

Please get up more?

Can not believe people are still talking about his mythical 6000 pips on GU today.... Oh and with a 99% trade accuracy...

For me, I am not seeing a lot of A+ trades. To be more accurate, I am not seeing any.

Que

Still waiting!!

Fudomyo THX for input!

Good Girl.

Hi guys... ladys,
I am new for share my opinion to this thread, but I followed it almost all this year. Sometime you made me smile, sometime laughing.
Okay, enough for the introduction. I am a FX Trader for more than 2 year, I am only trade GBPUSD, because I am falling in love with this pair and her movement.
I traded it very simple, Start of the day with eye on D1, H4 and H1. Then Trade in M30, I used Bill William Chaos Theory, Beginning with Fractal, Alligator, AC and AO. As additional indicator is MACD. I made my target per day just 30 pips. And trust me, with this method amazing thing will happen.
Have a nice pis.

Morning. Dragon's got a nice break topside. your turn cable.
Still buying

Yupp...!
I can see it on M30, Fractal going up, Alligator-Price above teeth.

urgh, confinement. how ruuuuude.

LOL...you mean still holding right? You aint buying more up here are you?...LOL

THIS IS BULLSH!T!

I was just closed out of My trade execution once the market heats up a bit
Exit long @ 5990. Market order. For first position. Now holding same 2.

Nothing.

Several times on 2 different brokerz, this has happened.

Anyone else?

All I could see was price falling by dashes. 20 pip diff. Now FF loads in .02 seconds. GO FIGURE.

Now dealer loads in 30 seconds after fall.

Yup, holding. I'll be adding longs somemore later

Hi Wormboy,

I am long too. And now destined to close higher. (before thinking about a potential short) I looked at WoRmHole and saw you moved up the SLs---on cable trades) Great!

If you have a sec see my recent post

Thanks,
X-

Edit - Cable struggling with 5990 still...... In my view this level needs to be broken significantly for further upside.

Hi X

yup all trades had been booked. I'm not in harm's way. Hope you're not either
Saw your post. May I suggest that you practise to trade with either or. It's either the high tf or the lower tf. It's important to do so because you need to understand that you need to work on the risk management together with the tf to complete your own trade system. And there'll be a lot of tweaking on the risk management before you get it right. Most failures I know of ignores this part in haste of getting rich quick. lol how dumb. Don't fall for that trap.
I personally do not recommend scalps/low tf trading to new traders. It's psychologically very challenging & newbies usually find themselves gambling instead of trading due to lack of emotional control.
I'm not sure if this is the response you were expecting from me, but i hope that helps