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Cable Update (GBPUSD)

  • #434,801
  • Jul 20, 2016 7:17am Jul 20, 2016 7:17am
'[quote=PaulDaemon;9
There are alot of profitable traders I have seen that use negative RR some even well known traders that talk on FX seminars. In a perfect world I would love to be able to risk 3% to win 10% but the truth is you will get stopped out more than 50% of the time so your balance will hover around Break even which is where the majority of traders sit.'

yes, im one of these 5% ers.. once i realized this management aspect is crucial to my trading..
so many of the trading cliches are/were false..
  • #434,802
  • Jul 20, 2016 7:27am Jul 20, 2016 7:27am
Quoting mirex
does anyone understand wth Lock is yapping about?
I was going to go long again but decided to stay out USD is quite bullish atm
20 Pips a day keeps centerlink away
  • #434,803
  • Jul 20, 2016 7:33am Jul 20, 2016 7:33am
Quoting Shoezgal
guys gbp going down or up? i can't tell at all..... 1.32 resisted but it looks it might be tested again?
rejection was weak so I expect it will break through.
  • #434,804
  • Jul 20, 2016 7:54am Jul 20, 2016 7:54am
pre US opened with a gap up. balance then went down into yesterday range. Current pre US low is weak as it is yesterday open + gb hb (13135). Now, because is rientered that range we could imagine a possible target at the opposite side of that balance. Considering also the gb minus development down to 13102 and the double poor low gb( 13078) and Tokyo ( 130645)
Ubi maior minor cessat
  • #434,805
  • Jul 20, 2016 8:08am Jul 20, 2016 8:08am
Quoting Lock
pre US opened with a gap up. balance then went down into yesterday range. Current pre US low is weak as it is yesterday open + gb hb (13135). Now, because is rientered that range we could imagine a possible target at the opposite side of that balance. Considering also the gb minus development down to 13102 and the double poor low gb( 13078) and Tokyo ( 130645)
eventually taken out

For the future anyway it maybe worth it to note that we are coming down from a gb poor high (131977) + a preUS (131795) session poor high plus the 13200 weak level still untouched. Carry this information forward if you like. This is a totally uncertain market.
Ubi maior minor cessat
  • #434,806
  • Jul 20, 2016 8:18am Jul 20, 2016 8:18am
Good to see you back Lock!
  • #434,807
  • Jul 20, 2016 8:19am Jul 20, 2016 8:19am
need to break 1.3131 first then 1.3115 then toward 1.3063
  • #434,808
  • Jul 20, 2016 8:56am Jul 20, 2016 8:56am
long @3095,3100, 3142 so far. 3300, 3450, 3650 is my tp
  • #434,809
  • Jul 20, 2016 9:27am Jul 20, 2016 9:27am
Gone long again tp 1.32150
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM15.png Size: 34 KB
20 Pips a day keeps centerlink away
  • #434,810
  • Jul 20, 2016 9:43am Jul 20, 2016 9:43am
placed short with small SL ,
If it breaks up thn will go long ...
Work Hard In Silence, Let Your Success Be Your Noise.
  • #434,811
  • Edited 11:08am Jul 20, 2016 10:41am | Edited 11:08am
Well, I would like to write something different but it's a real pain. That's all. It's a flea market.


It's now 4 hours up and down preUS open! 8 m30 periods up and down open! One of the worst market ever experienced: a nothing day.
Ubi maior minor cessat
  • #434,812
  • Jul 20, 2016 10:48am Jul 20, 2016 10:48am
another long @ 3165
  • #434,813
  • Jul 20, 2016 10:55am Jul 20, 2016 10:55am
​GBP/USD Short 1.3180 Target 1.3028
Just 20 pips a day to riches
  • #434,814
  • Jul 20, 2016 12:53pm Jul 20, 2016 12:53pm
Quoting Lock
Well, I would like to write something different but it's a real pain. That's all. It's a flea market. It's now 4 hours up and down preUS open! 8 m30 periods up and down open! One of the worst market ever experienced: a nothing day.
Right but uk unemployment stats could only move the market one way for the day right..
Lets see if the trend south continues ..
  • #434,815
  • Jul 20, 2016 12:56pm Jul 20, 2016 12:56pm
gu long sl 50 tp 100-150
  • #434,816
  • Jul 20, 2016 1:03pm Jul 20, 2016 1:03pm
Quoting dean1star
{quote} Right but uk unemployment stats could only move the market one way for the day right.. Lets see if the trend south continues ..
i agree with yu,
well the trend is still SOUTH and hopefully its going down ...
Work Hard In Silence, Let Your Success Be Your Noise.
  • #434,817
  • Jul 20, 2016 1:29pm Jul 20, 2016 1:29pm
Quoting dean1star
{quote} Right but uk unemployment stats could only move the market one way for the day right.. Lets see if the trend south continues ..

I really have no idea. I can see bad things above and bad things below right now. And I'm a day trader so I'll going home flat. For today it's over (for me) I noticed the daily poc (point of control) moving from 13100 zone to 13170 zone: Some times this could mean a possible evolution upwards, but I'll be not in that game anyway. I'm off. Have a nice trading anyone!

PS: pit session was not able to test above overnight, nor to remove the gap down from Monday so if it has to liquidate from here these are my weak references:

13135 yesterday preUS open (current pit session low)
and then far below
13078 today gb poor low
130736 yesterday pit session poor low
130645 today Tokyo poor low
Ubi maior minor cessat
  • #434,818
  • Jul 20, 2016 2:03pm Jul 20, 2016 2:03pm
My short term technical view on GBP/USD. Beware we might also get confirmed Kilroy (inverted H&S) pattern if price brakes 1.3480-1.3500 seen on 4H chart. ​
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-h1-fxpro-financial-services.png Size: 119 KB
  • #434,819
  • Jul 20, 2016 2:05pm Jul 20, 2016 2:05pm
Quoting keep4x
{quote} i agree with yu, well the trend is still SOUTH and hopefully its going down ...
Lets see how it plays tomorrow then ..
  • #434,820
  • Jul 20, 2016 2:18pm Jul 20, 2016 2:18pm
Quoting Lock
{quote} I really have no idea. I can see bad things above and bad things below right now. And I'm a day trader so I'll going home flat. For today it's over (for me) I noticed the daily poc (point of control) moving from 13100 zone to 13170 zone: Some times this could mean a possible evolution upwards, but I'll be not in that game anyway. I'm off. Have a nice trading anyone! PS: pit session was not able to test above overnight, nor to remove the gap down from Monday so if it has to liquidate from here these are my weak references: 13135 yesterday preUS open (current pit session low) and then far below 13078 today gb poor low 130736 yesterday pit session poor low 130645 today Tokyo poor low

Quoting Lock
{quote} ...For the future anyway it maybe worth it to note that we are coming down from a gb poor high (131977) + a preUS (131795) session poor high plus the 13200 weak level still untouched. Carry this information forward if you like. This is a totally uncertain market.

Eventually all taken out. What a pain! (and I was not trading!) It's a very very tricky market as said.


It also close the yesterday pit gap down (up to 132185). We may start to think about the Monday poor Sydney high (at 132735 that is also the current week high)...
....but considering this market environment, below we have:

13135 yesterday preUS open (current pit session low)

and then far below

13078 today gb poor low
130736 yesterday pit session poor low
130645 today Tokyo poor low
Ubi maior minor cessat
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