Cable Update (GBPUSD)

Hope does not have a yield, wish you can work on changing this habit, it's deadly in the markets.

Also, a second sin, "this time it is different", please try not to commit this one. It's not different, every time, it's not.

10 ema is 2433...? Then to weekly pivot 2515 and final stop weekly R 1 at 2655. Andddd life would be sweet...

I hear you mate, trying to change okd habits.

80 pips draw down gee I would be spitting feathers if I was 8 pips down.

Why don't you try taking the inference from the higher time frame and then actually trade the lowest one. This way you are in and out more but make far more profitable pips.

When you go for big targets you have to drop the lot size to cope with the stop (if you have one, nuts if you don') On the lower time frame the lots can be kept higher because the stops are very much tighter. Also it gives you the opportunity to either change direction or hedge.

I see people holding onto losing long term trades all the time and it only takes one of these to kill you. With the lot size being small they then go on to add to their losing position compounding the problem.

Yesterday was great for short term trading in both directions. It doesn't matter where we think the price will go eventually, it is what price is doing now that matters to me.

Years ago I calculated price only moved an average of 9 pips a day for the year (I forget the details now) but this alone told me long term trading was for the birds as I can make 9 pips in a matter of minutes. What is more important I can trade at 1% per pip. As I have always said it is not pips that count it is what you do with them that matters.

I cannot understand how you get to be 80 pips down when the daily only moved 93 all up. Stretch that 93 out into its ups and down and there was plenty of money to be made.

Well look at that...I just check the past 12 months on the G/U and it has made 2700 pips that equates to about 10 pips a day.

its difficult to identify the trend now, even the triangle already broke

Imo, bullish techs, but keeps getting slammed by news.

where the support now, cant seem to put my finger on anything....

As above auto 5 trades had tp on them over night but I had no auto sell and look where it went right to 2420

I took profit at 2430

I was there waiting for Eilerts 2420 and got it 2425. already out 2441

ok to follow sr , next goes 1.2340/30 before a bounce try again with eu around the present level there perhaps . Take care , fontu

Thanks not that good I never had the auto sell lol never mind back to 2475 . That 2420 was the 4 hour doji . But we have a day doji at my bosses 161 ext ? Thanks S. So possible drop if it gets there as if you look back on your 4 hour chart put in a tl but not to the bottom tail bring it back so that you leave the 2420 tail out . That was false or I call it a false pennant so you have to wait till price makes a top tl and sell of that ??? If that makes sense to you .

Short target 2309 if it breaks 2420 and also rejects 2475 . It is looking like my mum was right ????

Already out of this pair. It is crazy. I have never seen anyone getting the exact tp as Eilert.

News? Brexit, Scotish independence vote... That is not news, but facts. GBP can't get higher than 1.27 while UK have good news.
Closed all shorts for now. New shorts from 1.25 and higher.

See if 2446 adds to 2460 for a big lot order and onto 2475 . And 5 min tl is now in place so we watch the line in case it breaks . But on this one take care for db on that 2420 judging by the last moves it could be quick . So that's the today plan

17/04/04 TUESDAY 08:35+1GMT
EARLY MORNING REPORT

These levels may move/ come again & again 1.2446 -1.2400 while limits at top remain 1.2458 first & next 1.2464 for down plays . anyway big lots are always a risk at whatever small pips & confirmed analysed are there . anyway take care . fontu

Prey for them ahead :