Correct, maybe the traders I saw trading "counter-trend" were trading on the 1M chart and had a change of structure there so were trending with the trend on their TF but against it on mine. Although I do believe this contradicts your previous point ...

Cable Update (GBPUSD)

At one point I was looking at the 1H, 4H and 1D but I found this overcomplicated it and just added more levels to consider. By the time I was done with my analysis I had missed my entry so either entered late or didn't trade at all (the latter being ...

Cable Update (GBPUSD)

Thank you, this is what the weekend should be about!

Cable Update (GBPUSD)

This is true, I'm sure there are many traders with success that trade counter to trend but in my view this is essentially playing with fire. I think what made it click for me is that a completely random strategy with set TP and SL over a long period ...

Cable Update (GBPUSD)

Brilliant post highlighting the importance of trend here and some other good points too. As for your first solution I agree somewhat. I look at two timeframes to identify trend based on market structure the 1h and 1D. However, from now own, I will ...

Cable Update (GBPUSD)

As an update to this, I did some more analysis. I lost a total of 3% on trades counter to trend, I could argue that 1% was justifiable due to choppy/unclear direction. However 2% of that loss was all me being stupid. My account is currently at ...

Cable Update (GBPUSD)

So after running through my trades I've found that I pretty much only lose money when trading after 4PM (GMT+1). Infact, over the past two weeks my account would be up an additional 2.5% if I hadn't traded past this period. It's also worth noting my ...

Cable Update (GBPUSD)

I actually did take it, just not on your recommendations. Didn't catch the entire move but was a nice 1:4 trade.

Cable Update (GBPUSD)

Cheers bud, still holding GU shorts on my swing account, targeting 1.26. As for intraday price action is a bit too choppy for my liking. Makes me think some upside is coming.

Cable Update (GBPUSD)

Exited shorts, will reassess at levels 1.2960 and 1.30. If we get there. Have opened shorts on AUD/CAD and USD/JPY.

Cable Update (GBPUSD)

if MM could pick a direction and go with it I'd appreciate it, cheers.

Cable Update (GBPUSD)

Not getting any indications to go long yet, infact im getting indicators to the contrary. I think we're going to have a brief dip below yesterdays low and S1 before going up.

Cable Update (GBPUSD)

Yeh UJ seems a lot more obedient to the round numbers. Honestly not sure where UJ is going next. It technically had a change of character on the daily timeframe thus we should be expecting more downside but the fundamentals are just screaming to go ...

Cable Update (GBPUSD)

Thank you, makes sense.

Cable Update (GBPUSD)

I like to take into consideration round numbers on occasion but they just seem so inconsistent. Like USD/JPY today, I got two winning trades from 140 but on other days price seems to ignore them completely. For example, on GBP/USD 1.30 hasn't seemed ...

Cable Update (GBPUSD)

Nearly double the 30 day ADR, if this isn't a sign that the long term bearish trend is here then I dont know what is. Im calling GBP/USD parity 2024.

Cable Update (GBPUSD)

Ight im all out for the day. Caught a nice short on GBP/USD, just exited short on USD/JPY and EUR/USD. Some smaller losses at the start of the day but up 2.5% overall. Areas that I'm looking at to short on GBP/USD are 1.2960 and 1.30. Holding short ...

Cable Update (GBPUSD)

After studying the daily chart, I've changed my price target to 1.26 before any major pullback. This level is the last swing low on the daily and also the monthly pivot area. This is inkeeping with my view that we are starting a long term bearish ...

Cable Update (GBPUSD)

Not gonna add sells to cable but shorted eur/usd targetting, 1.1170. If that goes down I expect more movement down on cable.

Cable Update (GBPUSD)

But its a news day, so can be a bigger range.

Cable Update (GBPUSD)