Cable Update (GBPUSD)

Let's See

Yes It hits

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yeah u were Right , still hav ALL my shorts tho [nice 2 hav Deep pockets$]

I like ur syst. = I threw mine out d fukkin window [just kiddin]

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so what's ur syst. sayin Now m8 = just curious

HAHAHAHAHA... No problem at alll... It is the mind behind every system and ofcourse money management as well which makes it worthwhile... Happy weekend dude Stay blessed

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same hav an Super wkEnd m8 , Allah Hafiz Dost .

1.2220 has strong support and the bearish run would possibly be over.
Not surprise if it rebounded to 1.2306 next Monday(23.6% Fibonacci retracement level).

Worse than expectation Services PMI and Yellen speaking did not drag sterling down.


craftsman

Thanks digger

that is really interesting, is this camarilla levels at bottom of this page in this link ? http://www.livecharts.co.uk/Members/...ock_pivots.php

I will have a good look at this over the weekend. I will likely post a few questions, hope you don't mind.

Yes look at my frustration...
I am a hard hitter, I just keep telling myself that it'll be fine in minute and then it never recovers.
I trade a pattern called the cup and handle until recently, I thought it was best to stick to one pattern and master it.
I have been able to pinpoint with high degree of accuracy the levels in the cup and handle using the alligator and heiken.
Based on that knowledge my position in the market is that I keep telling myself I know better that the market.
I spent so much time trying to master the cup and handle I have still yet to explore everything else, it worked for me, so I stuck with it.
But the drawdown is unbearable.

Even though every year I do this to myself month after month, really uncomfortable waking up to 50% of my account in a drawdown.it has got to stop.

Like you said about been taken to the cleaners by the Ex, even when I think I am right, apparently I am still wrong LOL haha

Look at my account January then February.

the added factor is, once the account becomes a mess, I cannot focus on sensible trading any longer but instead just spend all my weeks trying to bring it back into profit trading like a bull in china shop.

Thanks for your information. I will study this over the weekend.

Fxd

Took the trade on 5min entry 20ema above 200
I am now looking for above water on 15min
will consider looking at ceiling on 1H

STOPS ADDED

image 1: 5min
image 2: 15min
image 3: 1H

next target 1.2315

I agree, I will exit one position at 1.2305

Just took short 2280

have no open trade atm , done for the week

but i would also be shorting from around these levels

2299 now

I have closed one trade and adjusted stop on the other

I am now watching for lower low on 1min

I have placed the stop for the other trade at 1.229

EDIT: my final trade has now closed at the 1.229 stop in £13.40GBP profit.

nice bounce off support region

glad too see 1.2300

[quote=fxdeductions;9624785]{quote} Thanks digger that is really interesting, is this camarilla levels at bottom of this page in this link ? [quote]http://www.livecharts.co.uk/Members/display_stock_pivots.php[/quote Yea those would be the ones I believe,,,,,,, not sure what time period those are for tho, There is dailys , weeklys , monthlys , etc, ,,,, I have found the quarterlys using the weeklys to trade the quarterlys back and forth is a good combination.

Sorry for the late reply .. I trade only breakouts

https://www.forexfactory.com/showthread.php?t=645329

As a new member, looking back at my post history on this thread on friday i fear I may become a running commentator and clog the thread with my thoughts, questions and charts minute by minute.



So I have started a journal to nip it in the bud early and I will post a link on this thread for any GBPUSD trades I will be taking to include any I think of importance.

My journal is open for traders to post QandA's to me