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Cable Update (GBPUSD)

  • #451,341
  • Mar 28, 2017 11:42am Mar 28, 2017 11:42am
Hi All,
i have been a silent reader for the past few weeks. Learning tips and advices from traders like you guys.
Wish to thank all of you for the great lessons.

anyway, i have just officially started live money today, and im really curious if im playing it righg or wrong.

i shorted GU 1.25495
currently im profitting 60pips.

is it too advisable to just hold it ?. Im tempted to just close it , however , im looking at a bearish trend due to my noobie skill set.

thanks and look forward to great advice
  • #451,342
  • Mar 28, 2017 11:58am Mar 28, 2017 11:58am
Quoting Tgytgy90
Hi All, i have been a silent reader for the past few weeks. Learning tips and advices from traders like you guys. Wish to thank all of you for the great lessons. anyway, i have just officially started live money today, and im really curious if im playing it righg or wrong. i shorted GU 1.25495 currently im profitting 60pips. is it too advisable to just hold it ?. Im tempted to just close it , however , im looking at a bearish trend due to my noobie skill set. thanks and look forward to great advice
im expecting this to plough through the 1.2420-1.2480 resistance to at least 1.24 but you never know 100% so up to you
Loser trying to become a winner!
  • #451,343
  • Mar 28, 2017 12:05pm Mar 28, 2017 12:05pm
I would like some insights as to how you guys think GBP will react to Article 50, thanks.
  • #451,344
  • Mar 28, 2017 12:07pm Mar 28, 2017 12:07pm
Quoting Tgytgy90
Hi All, i have been a silent reader for the past few weeks. Learning tips and advices from traders like you guys. Wish to thank all of you for the great lessons. anyway, i have just officially started live money today, and im really curious if im playing it righg or wrong. i shorted GU 1.25495 currently im profitting 60pips. is it too advisable to just hold it ?. Im tempted to just close it , however , im looking at a bearish trend due to my noobie skill set. thanks and look forward to great advice
1.2472 is the weekly open ,,,,,,, if you have multiple positions taking a little profit never led to being broke lol,,,, weekly open works like the daily open ,,,,drops thru it look for it to be used for a resistance point, sure there is a few day trades being closed out and a drift up is normal ,,,,,,, I too think there is room for more down side ,,,,, but it is your money
  • #451,345
  • Mar 28, 2017 12:29pm Mar 28, 2017 12:29pm
Hi TGY bit of a silent one myself mainly because although I've been trading for a while I'm still doing a whole lot of learning. If it were me I would take profit if there is a sign there is a turn around. Why? because of the signing of Article 50 tomorrow. No one knows how the market will react. There is no way to predict where it will go. Its great if you can catch a ride on a big move from a news event but if it goes the wrong way your stop might not be honored where you set it you could end up loosing all your hard earned profit.
I'm not that good at sticking to the hard and fast rules. Many say once a trade is on leave it and it will either go your way and hit your TP or it will fail and hit the stop. If I see a positive trade turning back I take it out. I rather have some profit than a loss. Maybe when I get more confident then I will be more comfortable leaving them.
Just my little take on things
  • #451,346
  • Mar 28, 2017 12:38pm Mar 28, 2017 12:38pm
hourly close or two below 2480 a trip to 2420 ish becomes a real possibility
  • #451,347
  • Mar 28, 2017 12:38pm Mar 28, 2017 12:38pm
Quoting elbert3
{quote} 2305 is a possible I would not be surprise to see 2424 today
It going for it
  • #451,348
  • Mar 28, 2017 12:45pm Mar 28, 2017 12:45pm
yea , believe so man ,,,,,,,, chart for above post.
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  • #451,349
  • Mar 28, 2017 1:04pm Mar 28, 2017 1:04pm
i just took some profit , save rest for 1.24
Loser trying to become a winner!
  • #451,350
  • Mar 28, 2017 2:24pm Mar 28, 2017 2:24pm
Quoting digger1
yea , believe so man ,,,,,,,, chart for above post. {image}
Hi Dig just fibed the 4 hour and have a look see what you get. . And the number is a past breakout 2309 61% ?? B
  • #451,351
  • Mar 28, 2017 3:02pm Mar 28, 2017 3:02pm
Quoting elbert3
{quote} Hi Dig just fibed the 4 hour and have a look see what you get. . And the number is a past breakout 2309 61% ?? B
Oh I was watching that,,,,,,, I have a daily cam tgt at 2417 and last weeks mid point is 2432,,,,, there is few different things here to be aware of for sure ,,,, I am definitely not ruling out a pop above the highs it is the last week of a quarter , far away tgts have a way of getting tagged on weeks like this
  • #451,352
  • Mar 28, 2017 3:31pm Mar 28, 2017 3:31pm
Quoting MyOpinion
i just took some profit , save rest for 1.24
Cashed everything out, strong bounce off 1.2444 will wait till that goes to maybe short again. gl everyone.
Loser trying to become a winner!
  • #451,353
  • Mar 28, 2017 4:34pm Mar 28, 2017 4:34pm
Quoting elbert3
{quote} Hi Dig just fibed the 4 hour and have a look see what you get. . And the number is a past breakout 2309 61% ?? B
That 2424 might of been 2440 looking at it ? Seems to be making s stand so we go with it and sl at that bottom . If so 2530 ?????
  • #451,354
  • Mar 28, 2017 4:39pm Mar 28, 2017 4:39pm
2432 is still my third target
  • #451,355
  • Mar 28, 2017 4:46pm Mar 28, 2017 4:46pm
Quoting elbert3
{quote} That 2424 might of been 2440 looking at it ? Seems to be making s stand so we go with it and sl at that bottom . If so 2530 ?????
In the area ,,,,, just have to keep a tight stop till the right catalyst comes along ,,,,,,need just a little more data
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  • #451,356
  • Mar 28, 2017 4:49pm Mar 28, 2017 4:49pm
Last weeks mid was 1.2432 ,,,,,, mids usually work better than a pivot ,,,,still got a good weekly cam level at 2417,,,,,,,
  • #451,357
  • Mar 28, 2017 4:50pm Mar 28, 2017 4:50pm
Quoting Nala66
2432 is still my third target
thats a good one for sure
  • #451,358
  • Mar 28, 2017 4:51pm Mar 28, 2017 4:51pm
Price will often stall like this to give the average a chance to catch up.

I place much more emphasis on the average of price and not the actual price which is just noise about the average.

Clearly we can see the bulls failed to make a higher average high so it then test the lower average.

I always compare average to average never price to average.
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  • #451,359
  • Mar 28, 2017 4:57pm Mar 28, 2017 4:57pm
Quoting elbert3
{quote} That 2424 might of been 2440 looking at it ? Seems to be making s stand so we go with it and sl at that bottom . If so 2530 ?????
The 2530 certainly fits too, last weeks high ,,, if a bounce that will argue with it
  • #451,360
  • Mar 28, 2017 5:02pm Mar 28, 2017 5:02pm
Quoting Nala66
Price will often stall like this to give the average a chance to catch up. I place much more emphasis on the average of price and not the actual price which is just noise about the average. Clearly we can see the bulls failed to make a higher average high so it then test the lower average. I always compare average to average never price to average. {image}
yes ,,,, usually takes till the next day for the averages to get caught up,good point
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