Cable Update (GBPUSD)

Short hedge 2636 watch the stop if it goes 2456 for Friday profits ?? But look to buy dips

naah.. they don't need!

NFP time today. .. don't forget this guys

I was checking my last weeks behavior. This charts is a summary:



Good points:
- I perceived there was changing scenario after the trumf elections
- I perceived was good to scale out and short the move up near 1.27 in middle of november
- I was heavily buying near what came out as low areas.
Bad points:
- I was buying thinking for a continuation up in the middle of november (costed lot effords to close @BE after some trade managements)
- I was not holding shorts enough time to let price develop.
- I did not recognize quickly the importance of the 1.25 area and how market was showing clear signs that was important in that moment.
- I did not buy heavy like always right the time price finally broke up (yesterday). Overall my trade was half the average size.

Overall I would say there are some interesting steps up in my trading, but I will definetly need to improve some important points, most of them....

LET MARKET SHOW WHAT IS THE ACTUAL STRUCTURE AND RESPECTING IT!

16/12/02 FRIDAY 10:00+1GMT (edited untill 10:11)
EARLY MORNING REPORT

Ok let's say that after the fact things are clear. But you know... at this point things were not clear at all:



No matter what the resistance or the idea one can have at a certain level.... Market will not care about anything. Possibilities at that point could have been also like this:



Eventually, short probabilities increased near one of those 2 levels, after some few facts were shown, but still there could have been a straight immediate continuation upward to the high and through it



My point is that there is nothing at all making a trade better than others. There is just what one perceives about the situation. Believe me, along that way up, there were thousands opening shorts because price reached some resistance, some indicators, some ideas, some anything. And probably, most of them went stopped or closed in loss or few profits.

Just like happens on every move. No matter if up or down.

Construction PMI first.

Can't deny there is potential to the downside at these levels.
I short a small size near 1.2610

Plan is:
if goes down, will try let it show if/where demand will appear and move stop @BE asap.
if goes up, will try to close it next week(s) since it's an overall sup/res area.

Where is everybody?!

Are you all counting weekly profits?

The price moves down to the point of 1.25680 and test the support line. If the price breaks through the support, then move through the point 1.25680 down. Or, if the price does not break the support it will move up to the point of 1.27018.

we waiting for heads up bb ?
don't tell me its a easy read

i'm here reading your commentary

heres the thing at least I'm vindicated about that h1 ,still I think we should listen only thing that could take it is something similar
if you took it before you'd be a couple pips up

Not simple at all indeed.
The very best option is to stay away from this kind of setups!

I just short for 3 reasons:
1- it's not really looking like a buy opportunity.
2- it's a small size trade so a 300pips SL will not kill my equity at all.
3- if plays out to be right, I will eventually have a small advantage in case I want to buy lower.

But

at the moment... some demand came in near day open + preAsiaSession highs.

I'm going to make my mind up closer to time I hold from few days ,it is important today last nfp could be rate changer for sure
this consolidation is at a all time high on this chart ,its not clear could be later
be best go in keeping super tight on your bias could move either way hard

I have a target price of 2634 but it is taking a long time, just about a doji on the 30 min. I might just settle for the ten pips I have.

I wonder if market will be sensible to this NFP.
Yes there could be some moves up/down but speaking about cable lately was not really affected that much by $

Watching at weekly, looks like ready to explode straight to 1.28
meaning this or next candle

This is the only reason why IMO there is still strong and good potential to the upside and making me thinking if it is still good time to buy, no matter what

That's true!

using my entry as support