One first step is, if we're in a range and you bought at the bottom of the range or sold at the top, assume the range will hold, and exit near the other end. Sure, occasionally it will run away and break out. But the market spends most of its time ...

Cable Update (GBPUSD)

development so far SL moved to break even. This is now a free trade

Cable Update (GBPUSD)

Posted here yesterday

Cable Update (GBPUSD)

...and how it has developed so far

Trading with Luke

After closing my long GBP/USD yesterday, I waited for retrace to get in. I saw a sizeable bearish candle form on the hourly, so I entered right at the open of the next hourly candle, with SL 12 pips, just below the low of the bearish candle. I ...

Trading with Luke

EUR/GBP shows temporary exhaustion of uptrend. Given that EUR and GBP are rising, this suggests GBP /USD to rise further and faster then EUR/USD for now I posted in USD/JPY thread yesterday about how these conventionally "bullish engulfing" candles ...

Cable Update (GBPUSD)

better to kill dreams than wallets. Dreams are a dime a dozen and no matter how many times you kill them, they respawn like a character in a video game. Wallets, not so much

Cable Update (GBPUSD)

Buddy, if you think that someone here will email you tips to make you a million, after they supposedly made a million themselves, then you have more serious problems than "feeling stuck"...

Cable Update (GBPUSD)

Some candlestick patterns work OK, but not in the way you are being taught in books, forums and youtube videos. This is a multi-trillion dollar market. You are competing with hedge funds, sovereign wealth funds, central banks, investment banks, the ...

USD/JPY Discussion

Bought again at 1.2179, at the open of the new hourly candle after the bearish hourly candle. If you believe you are in a developing trend, then look to buy/add at the close of sizeable counter-trend candles. Most of the times, the trend continues ...

Cable Update (GBPUSD)

When you pick tops and bottoms, consider the time of day. Even for Asian currencies

AUD/USD

For those Aussie lovers

AUD/USD

I knew I didn't like that 30min candle. It has reversed the uptrend for now. I am getting stopped out at 107.20 as I type this, so that is this trade closed for me with 50 pips profit. Now flat on all markets

USD/JPY Discussion

Closed both longs at around 1.22 for about 90 pips profit Also closed my AUD longs and FTSE and Dow longs from last Friday, so no positions open atm other than the USD/JPY long which is about 5 pips away from getting stopped out (50 pips profit ...

Cable Update (GBPUSD)

Not a nice candle to see on the 30min, after a modest uptrend. Such "bullish engulfing" candles after uptrends tend to be signs of reversal. But it's only the 30min chart, so may be just a pause. In any case, my stops are now raised to 107.20, ...

USD/JPY Discussion

Standard range plays. The market spends most of its time ranging, not breaking out

Trading with Luke

Hello. I have now closed my Dow and FTSE long trades that I entered into last Friday per my earlier posts, on May 14th. FTSE100 long @ 5635 closed @ 5970 for a profit of 335 pips Dow Jones long @ 22,868 closed @ 24,422 for a profit of 1554 pips Stop ...

Trading with Luke

about 6 hrs ago I went long GBP.USD and AUD/USD, posted the GBP/USD gamble on Cable Update thread. On May 11th I had posted in that thread my suspicions for the market was up to. I attach the original 11May chart and its update as I see it, today So ...

Trading with Luke