Cable Update (GBPUSD)
Was that a long scalp BB? Better 2 pips than lose 20 or so.
yes was a long scalp.
worst thing is that i closed it just when was time to add to the position and get those 20 pips (or more)
happens.
today i left something like 150 pips on the table.....
so 20more or 20 less, at least i end the day with nice +100 and week with +.... mmm i dont remember!
you were asked why this pair is not moving much.......
what kind of response is yours? can you tell us why this "bitch" is going up to 1.5770? Can you post a chart....can you post your trade entries as I DO.....what you posted means nothing and only leads new people down the wrong path. Why dont you post your entries and exits like I do and post a chart as to why you think what you think. I know it takes time....but it would add to your credit here.
faller.
So, 10 consecutive bullish bodied Daily candles on Gbpusd cash now following Friday's Daily candle bullish close and price has convincingly breeched 2 x descending trend lines to the upside on this Daily t/f
10 consecutive bullish or bearish bodied candles on any t/f is rare...is this pointing to a greater probability of more supply in this zone or in the previous Dly/4hr swing hi zone just above it or any of the potential resistance factors inbetween ?
G/L
I did very well out of GU longs last week but my EG shorts didn't work as planned. I expected short covering rallies for both GU and EU but I expected GU to out perfrom EU based on economic fundamentals (hence the reason for placing EG shorts). Obviously I need to work harder on understanding market psychology.
Looking ahead for next week, Euro normally does well around EU summit times and there is one on Monday. However, there are a record amount of EU shorts according to market data. As for GBP, I can see road blocks at around 5770 and 5810....
Very true about 10 consecutive bullish candles. In the past, it had happened in January (9 - 11 candles) like this year. Obviously this cannot go on and there has to be a correction (I hope a minor one). However, these are strange times and trying to predict the future direction of the market based on history is a foolish thing to do. Certainly, I cannot see anything clearly in my crystal ball (still trying to work out how to fix it)...he.. he..
becarefull GU..will blast a lot higher...monthly is coming to an end and i expect..a run upto 1.65..technicals are completely inline with it for next month, potential is there
nothing has to happen..just follow the technicals
Hi nAVIN,
Many thanks for your feedback. I fully agree with you that the medium term trend for GU is up (see upward channel shown below). However, what I am saying is that we have some headwinds ahead next week. Sometimes, one has to go back a little to go forward a lot further - hence my plan to prepare for that in next week's trading. Obviously, price action will determine what I should do though. Kind regards.
Attachment
im also interested in long.
but would not exclude short opportunities between 5760-5800
about the 10daily candles up etc.... i also see possible a kind of ranging between two strong levels.
time will tell.
I think the monthly will close higher than the previous, but hands are tied..lol
im just speculating as im still friggin long..lol
usd also doing what was suspected
lol
