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Cable Update (GBPUSD)

Quoting morse
The problem with channels is that they dont hit 1 side or the other most of the time they can sit in the middle up down up down get my point ...

good point that is why I trade with limit orders only.
This places very high probability trades once triggered.It takes away you seating in front of PC all day long.
Limit orders are highly overlooked here.It forces you to target key areas and skip weak areas or Grey zones.No over trading issues.If limits are not hit no trade is in action.With over 10pairs I usually get a good run a week.
HDA ,Inpatient and I trade like this.Not many.
In trading, you have to be defensive and aggressive at the same time
Do you trade quite a few pairs then ?
Quoting morse
Do you trade quite a few pairs then ?

Only the ones which are in range.
I have a journal which I cover a lot.You can drop by

Davit's Confluence Trading
In trading, you have to be defensive and aggressive at the same time
Thks will do are you looking at long time frames 4hr daily ?
Morning,

Best price for short around 1.5640-15650
If there was easy money lying around,no one would be forcing it into your
Quoting FXMindset
Morning, Best price for short around 1.5640-15650

Why?
can anyone show me why we should short?

btw, anyone long should TP at 1.5607
Quoting morse
{quote} Why?
try look for bigger TF
Davit has a point about channels but no one else on here seems to give an explanation on why you should short against the trend I can see 1560 were extreme ...
4H
Attached Image
If there was easy money lying around,no one would be forcing it into your
FX mindset, GU heading to trendline right?
I wouldn't short GBP right now, fundemental reasons.

philly fed manuf. today though, maybe sell than...
Quoting morse
Davit has a point about channels but no one else on here seems to give an explanation on why you should short against the trend I can see 1560 were extreme ...
It depends on everyone's trading style, how they read a chart, are they trading long term or short term. So there are many variables, why short. Of course there are also lots of bulls*iters here also, me included
still valid, should be broken today
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Comon people focus on making money
Loosening is not an option
Back to cable, there is a good chance of it being range bound until the news comes along and gives it a shake. As we are currently just below 1.5590 and mid resistance 2 for the day. Looking at the daily there is a possibility to the north for a double top, which is where I am looking for a possible short entry.

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Quoting Lattepips
I looked in the details of Forexfactory long and short positions and to the biggest shock of my life.. I saw one whose profile was private.. He has 130 lots of the short side..
Opened? :o that person might have tooo much money or cent account
Quoting blobsaudio
Back to cable, there is a good chance of it being range bound until the news comes along and gives it a shake. As we are currently just below 1.5590 and mid resistance 2 for the day. Looking at the daily there is a possibility to the north for a double top, which is where I am looking for a possible short entry. {image}

Agreed. That is what I posted earlier this morning... That would mean a 100% fibo retrace of the swing from 1.5750 through lows of 1.4812... Assuming the US data today and tomorrow is bad...

Could be good for potential shorts... smallish risk, for what could be a huge reward...
Good day,

We have 1.5845 marked higher up as a possible target. Targets open to the topside still include up to 1.6090. not saying they will be covered this time round, but they are there.

To the downside, we have open targets @ 1.5330,1.5253,1.5180,1.5039 and 1.4959.

We are barely into a sell zone, so - we could drop from here starting to target the lower numbers, but we also still have room to move higher. Doubt if we will move higher today though..

I'm looking to start building a short as my next long term trade - just have to find the best place to do so. Will be scaling in. I'm currently in risky long positions so will have to see.

Regards
Down goes the GBPUSD, dont mess with the dollar bull guys....
taken profit on my EURUSD short from 1.34 at 1.3230
We live in a finite world with infinite possibilities.
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