Cable Update (GBPUSD)

Quoting 5percent

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For me, Long terms only comes in when there's a breakout, of important support and resistance levels, mostly on daily and weekly on wards. Like eg previously 1.54-1.52 it plunge to 1.48 etc. Long term is either swing/ semi swing as mid term. Any thing longer than 1 week is purely position holding on investing than trading to me [ my opinion only ], As who the hell knows whats going to happen next. Long term trader should emphasize more on macro-fundamental-economics etc, rather than TA. Overall, trading is just speculation. So, probably just intra-day...

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Quoting pj11500

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Hi Baher, I think he means the higher it goes the more it will fall. Buy low sell as high as possible

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Quoting baherhosni

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hey sonny, did u hit your long targets yet?

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Quoting -sonny-

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I like your intraday skills, I will follow your ideas to try some intraday moves , I usually lose money in intraday probably because it's not my style . The long term trading is not so easy as it was before 2008 but since I stopped to open just one position and open several positions in the direction of the trend it work.

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Quoting -sonny-

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Hi baherhosni, Right now I'm in profit , I'm waiting to see how far we go up, going long it's always a long process it's that why we call it "long" right ? {image}

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Quoting 5percent

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here's the drill keep it simple . After NY close, Mark the area of resistance/support - > Shadow of that particular's day closing, daily chart. Any after supply zone - > Is break resistance, After Demand zone is break support. Open your mobile MT4 -> There's reading of daily high and daily lo. I use GMT +8 Singapore time, so i don't know others. on My timing, 5am is daily close NY. 5-9am is no trade zone. Sometimes 10am too. due to AUD or CNY datas Wait and let the daily's hi and low get expanded. Box it using rectangles on MT4. For eg, during 5-10am,...

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Quoting baherhosni

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hey 5percent.. you.. should write a book!! or run a youtube channel or something.. or hire someone to follow your posts and compile a forex trading hints & guidelines booklet.. and if Bones was around, i'd tell him a similar thing.. please keep your posts coming.. good luck and thanks

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Quoting 5percent

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thanks, for the book, i already have actually, just that i am busying trading myself instead until my proteges have learned enough, then only i can spend time diversifying into other areas. And i don't intend to run a youtube channel, as it ain't my style.

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Quoting baherhosni

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hello fontu, can you kindly explain why is tanking going to be harder for you the higher it goes.. is it because if so the market psychology will be more towards bullish? thanks

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Quoting gaurav.132

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we had all negative economic data from UK but still GU is pushing higher anyone having idea about it ?

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Quoting Trader88q

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where do u see the push higher. last week high was 5412 so now we 5370 maximum. 7 days past and we are lower than 5412. i think that week is very contradictionary. i put my short 5365 SL 5385 TP 5180. this is it. i will not change my position. we are in a formation of 3 wave this week so now its a top that of wave i think. bottom must be below 5200 on a H4 chart its clearlly seen i see hiden first sign of trend reverse this week. 4832 up trend to 5412. so now we could go lower even 5032

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Quoting gaurav.132

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i see a inverted head and shoulder pattern with the possible formation of right shoulder in 1hr chart

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Quoting gaurav.132

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the chart was not uploaded i don't know why ...... {image}

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Quoting Trader88q

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where do u see the push higher. last week high was 5412 so now we 5370 maximum. 7 days past and we are lower than 5412. i think that week is very contradictionary. i put my short 5365 SL 5385 TP 5180. this is it. i will not change my position. we are in a formation of 3 wave this week so now its a top that of wave i think. bottom must be below 5200 on a H4 chart its clearlly seen i see hiden first sign of trend reverse this week. 4832 up trend to 5412. so now we could go lower even 5032

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Quoting J.Clinton

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Could agree with you in any other day like from 3 days when took the short from 1.5375. But from yesterday to today, market momentum had changed. Nothing will reverse it but shock news. Your position is good but you must had lowered your Tp expectation to run with some profit today. Watch supports 1.5325, 1.5311, 1.5295

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Quoting 5percent

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Mate, that's not how a Inverted H N S looks like.. It should be prices from current low's of a higher lo, and previous left shoulder which failed to become a support turns resistance. Inverted is bullish, normal is bearish because of lower high and a top. Vice Versa a lowest lo with higher lo, {image}

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