Cable Update (GBPUSD)

FML ... i see this pairt going for 1.573 as well but 1.60 would be where it will touch with immediate bounce i dont see why you look at 1.66 IMO 1.6060 is max tho :-?

ok come back after 2 days to see the pound at 1.54

pending sell @1.56230 sl @1.56630 TP open...
let see if here we test the pull back

any pull back now will be a retest of the 200, ema hit ema hit higher if pos is this

as i said i will wait for 1.54 and today Pound will drop 80 pips average, lets see if i am wrong, will it rise ?? Yes but i am waiting for pullback and
i said many times i wait patiently and i am doing that
and i might even Sell Pound its Overbought in many charts technically,

TODAY'S TRADES :

SHORT on GBP/USD at 1.55718 TP 1.55618
Result.....

1.66 is Long term and that means months maybe 3-4 months maybe more but that is what big players do they Trade their REAL money not invested money the Real one i mean Savings when they see the Large pattern, that is why i said that and besides who have that much patience to hold the positions for 6 months,
i do i am even holding one position Jan, just a small one 1$ per pip so it will not effect my MM, just to see how long it takes to get to my target , and it may takes another 2-3 maybe 6 months but i am waiting,
there is a Man People call Him Master YEN he only trade Yen and he trades only one side means if he is selling he sells for Years no Buying whatsoever, and if he is selling then only Sell, and i have seen his live work with proper money management 1:1 he waits for proper time and trade from past 3 years he was Selling YEN in forex means Buying Yen pairs like EURJPY, GBPJPY, etc etc, i will show you his live work, that is why we sometimes hold on to long term because it doesn't even affect our account 1% if pair drops 1,000 pips, for instance with standard 100K account you will trade 1 mini lot just for kicks so tell me if pair drops 1,000 pips you will loose 1K means 1% of your invested capital that is not bad for Experience or is it?? that low margin we use for Long term just to see if we were right or wrong and how long it took us to get there if we were right. that is why i mentioned 1.66 brother, because it is in the cards believe me or not its your choice i am just sharing my analysis,

anyways that being said, lets talk about short term today and tomorrow, because i know most people trade for short term, but when the positions go negative they switch that 30M Chart Trade to 1H chart to 4H then daily and start looking at weekly chart also to support their trade and eventually you will find something, because there is always something chart can be seen both ways, for selling and for Buying, that is in fact the truth of many forex traders i saw personally how they burn their whole investment just because they can't let go, you have to learn to let go before its too late, guys Forex its business some times you will be right sometimes you will be wrong, that is how it works you can't be right all the time you just can't,
i accepted it very very hard way after losing a great deal of money and time not to mention Bloody Stress, i learned Few important lessons i wish people will learn sooner than i did, but the problem is everyone or should i say most traders do know them but the problem is Acceptance, they do know Forex is Business just business never get emotional but Majority gets emotional when it comes to real money, its not your fault it is hard to not get emotional when you see your hard earned money is going away, that is why every single experienced trader will tell you to use very low leverage, because if you have 100$ and you loose 1$ its not a big deal but if you lose 50$ out of 100 that is 50% and another problem is that people want their money back fast, so they trade with high leverage to get them back sometimes they do, but sometimes they lose other 50% also,
an here is another thing Demo will teach you many things but you will never pass the final test until you trade with real money even if it is 100$ money is money, that is why always start with little money to learn how it feels when you Win, how it feels when you lose, don't concentrate on $$ always see the % of the profit you make every month and see how long you can make it, for me i started with 5K and end up losing 50K in total, then i started with only 50$ and end up making that 500$ in just few months, that is when i knew i can Become good trader, otherwise i would have taken my brother's advice and left forex for good before i lost everything, story of my life, boring i know but it will may help you think, and will help you pass the time reading it,
anyways let's see what is in Today's Menu,
if i trade i will be trading GBPNZD, GBPAUD, GBPUSD all SELL today and tomorrow all are Overbought, in my Experience and in MACD, i Love MACD it never LIES believe me if you know how to read the numbers you will find that very very Helpful,
Good Luck guys.

GOD BLESS YOU ALL.
Thanks.

Morning D some notes i made ,,

5595 short , to news sl 5611

we are waiting for data - and whether the end of 5 or even more UP small wave 5 or we begin a larger correction to

in short 5595 locked in now want to see if it takes out the 200 on the 5 min to 5522

off nice pips as soon as i see the green, now will it resist sell under the last red candle long over 5595 ,,depending on the look

Interesting read... have a similar story here. Started with 3K and ended up losing what I can't imagine when i summed it all. Forex is indeed a thing of patience.

its moving up.................

I think it will bull till the next crush , yes I expect crush but at some more top. After breaking 5551 it just give a bull signal for the existing wave up\correction for may be easy 5784, 5824 ,5873 ,6062 & actually ++ before the expected crush comes up. charts posted in my last post , may be yesterday. take care , hope all ok to you.
fontu

Wrong informmation about cable it's moving up i lost 30 pips but no worry buy again at 1.5630

finishing, waves 5 in 5

Nice info fontu it's mean i make my trade long term

every thing in ok happy trading

lol trendline attraction sell it of back to 10 ema