Found a new indicator today, one that identifies market structure. Actually surprised at how good it is. It's just turned green meaning bullish market structure shift. As we broke the high at 1.2880, I've placed a buy based on the daily bullish bar ...

Cable Update (GBPUSD)

So what have I learnt so far this week? Weekly pivot may be the first pivot touched with a 75% chance, however, this data doesnt take into account movements prior to this happening. It could go within 10 pips of S1 before hitting weekly pivot etc. ...

Cable Update (GBPUSD)

You're right. I should probably just step away from the screen. Stop is at break-even at 1.2830. Gold short activated at 1962. Lets see what happens. Not taking anything until TP.

Cable Update (GBPUSD)

Im targeting weekly pivot and daily R2 at ~1.2920, although admittedly movement is slow. R1 is at 1.2870 will see how price reacts there. We need a confident breakthrough to reach my tp. Gold is looking good for a short to daily S1. May be a decent ...

Cable Update (GBPUSD)

Will be keeping long open overnight, same with EUR/JPY. SL's are at recent lows. Not something I usually do but bearish pressure seems to be slowing on GU and as always I want to see weekly pivot first before continuing down. EUR/JPY we have ...

Cable Update (GBPUSD)

Ill be against this time, im not a counter trend trader. However the fact that weekly pivot being the first pivot to be touched has a ~75% chance of happening gives me confidence in longs until then.

Cable Update (GBPUSD)

Got filled at S1, high risk trade so risk ahs been lowered to 0.25% will be targeting 1.2933

Cable Update (GBPUSD)

So i'm still of the belief that weekly pivot should be touched before weekly S1. Its somewhere in the 75-80% region chance of this happening. Was 75% last time I checked over 52 week period but thats been improved recently. Maybe we will see daily ...

Cable Update (GBPUSD)

But then is it already priced in and will we rocket on german PMI release, ahh fundamentals.

Cable Update (GBPUSD)

So because french PMI was bad, does that mean german PMI will also be bad? Have a EURJPY long currently defending previous low.

Cable Update (GBPUSD)

So I can't find my crystal ball prediction from last week but its out there somewhere. My crystal ball stated we would see weekly S1 and was correct. Today its been shimmering again and has given me another tell. First we will see weekly pivot at ...

Cable Update (GBPUSD)

It was good yesterday, some good discussion on trading. Not so great today, back to the bitching.

Cable Update (GBPUSD)

Can agree with these charts here, although my bias will remain bearish until we break weekly pivot at 12933. May consider longs above that if price action and market structure confirm. Bulls have two main areas they need to defend in my eyes. 1.2850 ...

Cable Update (GBPUSD)

Great post wave, ignore the haters. I have noticed on some of your best trades you've lost around 10% of your profits due to swaps. Is GBP/USD the only currency you trade? Have you ever been interested in trying your strategy on other pairs and ...

Cable Update (GBPUSD)

Weekly pivot for next week will sit at 12933. High chance of retracement to this level on Monday. Then will decide direction based off of reaction to this area. Clean break through and its likely we will test recent high on the daily. Otherwise, we ...

Cable Update (GBPUSD)

I'll always be genuine hence why I commonly say I'm a break-even trader, its when I stop saying that and stop posting here that i've likely become profitable

Cable Update (GBPUSD)

It's difficult to say, just because it was near parity doesnt mean it couldnt go further down. If its any consolation I think you will have an opportunity to buy at parity by the end of 2024. If you so wish.

Cable Update (GBPUSD)

I guess due to the fact I have no indicator for me to show this and I do everything manually, I simplify it by only looking at two timeframes. As I said, hoping your indicator will help me out here, will be checking it out. Thanks for the insight, ...

Cable Update (GBPUSD)

Perhaps it is naive, but I have no evidence for it to be so. You conveniently left out the sentence after that where I state that if the 1H doesn't align with the 2H and 4H then we are likely in choppy conditions of which I avoid trading. In trading ...

Cable Update (GBPUSD)

Of course, this is what I do. Both S/R levels and pivot levels, a confluence of both is my preferential setup.

Cable Update (GBPUSD)