And then - and then -and then along came TRUMP!! Long tall TRUMP!!
Love it when a well laid plan comes together!
Watching GU on the 4-hr and daily. Not enough evidence yet that GBP has finished diving.
However other factors are driving the Euro down, mostly the usual suspects … the ECB
Possibly the time for long GBP has arrived.
Merkel makes an encouraging comment concerning find a workable solution to the Irish backstop … Cable pops 80 pips
Funny how the technicals often precede the politics. Though I would never have guessed Merkel would have the hots for Boris.
I’m quite clueless what is going on at the moment. I only have my phone and tablet. No matter what, charts are totally crap in Android.
Not much this week. Little time to trade and didn’t like the action – pretty much tight range in euro and aussie till today. Only made 4 attempts with 2 being partial scalps and 2 ending up as safetys. Less than 3% profit this week.
Gonna show why 98.89435% of my trades are scalps. I certifiably suck at long trades. My take profit is set at 6.9 pips and my stop is set at 9 pips. I risk 3.55% per trade.
Took this trade because a week long triangle was violated. The 30 minute shows there was aggressive buying (long candle legs) and it also appeared as a double bottom.
I slept on this sucker and came within a pip and half of losing on a full stop at the London open. There were 4 opportunities for full scalps (3 while I was awake) and it only takes 3 full scalps to meet my weekly profit objective.
And heres the final result— ZILCH
Disclaimer: Take all this with a aspirin and a grain of salt because
Looks like a delicious glass of Cabernet – don’t mind if I do! Thank you.
Live and learn. Like in the book Trading in the Zone by Mark Douglas, don’t judge yourself with one trade. Score your work with a series of, for example, 20 trades.
Right, I know Jen said something like “it is in the charts” but when I looked it was less than apparent to me. In fact if you look at a 4hr or daily of GBPUSD it still has not broken to the upside.
However…
Just curious – I deal with Oanda and their margin requirements are very high on cable – y’all’s high too? With Oanda, aussie lowest and euro next.