That's precisely what Wall Street has been telling us for decades. It is a big fat lie. On the contrary, always leave your position open (and even add more lots after each pullback) until you have clear evidence that the trend is over, that's the ...

Cable Update (GBPUSD)

You want french fries and a Coke with that too? Wise decision, I am thinking the same thing. Another way to play this breakout is to wait for a close below 1.25

Cable Update (GBPUSD)

Short term and swing traders should keep in mind that a breakout (to the downside) is still in progress... (1 h chart from Friday below):

Cable Update (GBPUSD)

Excellent question, you obviously know your stuff !!!

Most traders fail because of no discipline!

Nah, it's just that on Sundays the first move is usually fake, unless the trend is really, REALLY strong...

Cable Update (GBPUSD)

Don't worry too much, it 's just the Asian spread and a lot of noise, GBP/USD will come down in a few hours (at least it has to close the gap....)

Cable Update (GBPUSD)

Hahahaha yes, I hear you. However, let's not pop the champagne yet, those greedy market makers will now start playing games and "adjust" their books, they love to do that during the Asian session... In fact each time I post a trade ...

Cable Update (GBPUSD)

Yep, just what I expected, the cable just gapped up to 1.2570 on the FXCM trading station. Now let's see...

Cable Update (GBPUSD)

Hahahaha, you are a funny guy Luzbay video

Cable Update (GBPUSD)

I would say 1.2570, then some consolidation then down it goes... Yep yep yep, that's it...

Cable Update (GBPUSD)

I am not saying it is impossible to make money betting against the trade, it's just that trading this way is much much more difficult (your timing must be VERY VERY accurate or the trend will crush you in no time) and less profitable ($$$), in the ...

Cable Update (GBPUSD)

All I am saying is that betting against the trend is a low probability trade. All you are doing basically it trying to pick tops and bottoms. In the long run this idea does not pay because think about it for a second: during an uptrend there are ...

Cable Update (GBPUSD)

If you could pick tops and bottoms with ANY degree of accuracy you would be billionaires by now.

Cable Update (GBPUSD)

Look at the picture below, Mr Breakout made a 1000 pip profit on that 1500 pip up move just by following the trend (hypothetical example). You, on the other hand, made a total of 200 pip profit shorting these two pullbacks (red circles), assuming of ...

Cable Update (GBPUSD)

I will study the chart and get back at you tomorrow. Off to bed now. Take care all.

Cable Update (GBPUSD)

The problem with horizontal lines is that they are too obvious and easily visible on the charts. And when something is too obvious for the masses the market usually goes the other way or at best it will fake us out first "The market is never ...

Cable Update (GBPUSD)

Unfortunately there is no shortcut in this crazy (but highly rewarding) trading business, you need to do your homework and study thousands and thousands of charts, day after day, week after week, year after year. And then one day something will ...

Cable Update (GBPUSD)

Markets spend 70% of their time NOT trending, so most of the time there is no trend, like in your example. Like I said earlier, drawing a real trendline is not an easy task, it takes years and years of experience, you cannot just pick 2 points on a ...

Cable Update (GBPUSD)

Absolutely not. If the trendline has been drawn correctly, then each time the price goes above that trendline (let's say it's an uptrend) and then touches the trendline again, the smart money buys again. A trendline is not some "line in the sand", ...

Cable Update (GBPUSD)

A trendline is only a tool (based on the assumption that markets trend), how you use it to trade is what separates the 5% winners from the wannabes, assuming the trader can draw it correctly in the first place.

Cable Update (GBPUSD)