Cable is cruel haha, think ill just stay out of this pair for the rest of the day.

Cable Update (GBPUSD)

Got a long locked in at BE from 141.60 but yeh I agree, need to break this level. Wont be getting out, it either breaks or it doesnt.

Cable Update (GBPUSD)

Did not realise this, guess its gonna be a sleepy day then.

Cable Update (GBPUSD)

Agreed, UJ is a trending monster.

Cable Update (GBPUSD)

Out of my GU long, trying to stay disciplined. Price action like today is what causes all the losses. Will wait for a clear break of 12810 or 12830. Still in UJ long targeting 14250. I expect this will go sideways until NY session.

Cable Update (GBPUSD)

Definitely a possibility, although ive noticed when price tends to bunch up around support/resistance, in this case the pivot, it tends to break through eventually.

Cable Update (GBPUSD)

Hope we're not in for another day of shitty price action. Have gone long with stop below the recent low. Will go short if we break pivot. Also long on UJ.

Cable Update (GBPUSD)

Interesting read, will keep following. The level 2 shows a long tail that gave positive profit, however, given that it looks to be a normal distribution that could be the case on the negative side as well. It just isn't shown because the account ...

The Myth of Averaging

Weekly pivot for next week will be ~12717. I'm backtesting further back but currently out of the last 52 weeks, 39 weeks the first pivot level to be touched was the pivot. Thus, theres a 75% chance of a retracement to the weekly pivot level before ...

Cable Update (GBPUSD)

Brilliant, seems like valuable information. Will add it to the list of things I'm manually backtesting.

Cable Update (GBPUSD)

Strange, must be an MT5 thing. Using Ctrader and they are the exact same.

Cable Update (GBPUSD)

Put weekly pivots on your chart, count the amount of times price reaches R2 or S2. Then count the amount of times price reversed at this level versus continued through. Perhaps statistical anomaly was an exaggeration, but breaching this level is ...

Cable Update (GBPUSD)

Agreed, this price rise is a statistical anomaly. As long as people in shorts are keeping stops tight, I see no issue with it. It's the people that have been short for 100's of pips without a stop loss that have made a mistake.

Cable Update (GBPUSD)

Im all for trading the trend and have been this past week. However weekly R2/S2 is a very strong resistance/support. Check it yourself, most swings fail here. Ofcourse, every so often it doesn't but thats just trading. Another thing to note is that ...

Cable Update (GBPUSD)

Agree, just hope it doesnt take my stop before it does.

Cable Update (GBPUSD)

Just started FTMO challenge today.

Cable Update (GBPUSD)

No good long entries, don’t want to short into this. Looking like I’ll stay out for today.

Cable Update (GBPUSD)

Short 12747, SL 12767, TP open.

Cable Update (GBPUSD)

Now in shorting territory, anywhere from 12730 to 12755 will look for confirmation to go short.

Cable Update (GBPUSD)

Exited long for 44 pips. Lost 25 pips earlier so only up 19 pips for the day. Will look for shorts from around 12730 and hold until close tomorrow.

Cable Update (GBPUSD)