#18 Trade Plan RSI >80. My guess is it will come down for support on the triangle. Bias is long so reduced risk size and TP on the 61.8 retracement. Tight management is necessary. Sma 8 will have to move up to have an entry on a R/R of 1 / 2.

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There is no correlation to the eurgbp since it was a hit on the usd I think.

Cable Update (GBPUSD)

Got stopped out because of S/L. Blaming it on the news. image Bias set to long, new HL and HH and triangle broken. It might come back down to the 4250 - 4200 area for the kiss.

Cable Update (GBPUSD)

#17 Trade Entry / Exit Trade #17 sell stop got hit but got out already because of the stop loss. -> Moved in too quick -> Without comfirmation of EMA 5/SMA 8 I had to wait for the day candle to close for opening a pending order. -> Blame it on the ...

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I'm thinking sell stop got hit a bit too early

Cable Update (GBPUSD)

Candle on the daily. Shooting star or gravestone Doji could be nice. image But hey it's still early. It could go north so S/L in place. The news could mess things up. image

Cable Update (GBPUSD)

Not possible the wick has to be twice as long as the body. grtz

Cable Update (GBPUSD)

H4 close in one hour, possible shooting star. Update Nevermind Sell stop hit, thumbs up!

Cable Update (GBPUSD)

#17 Trade Setup Management Price moved a bit higher, moved my sell stop higher. Rsi is almost overbought and It looks like it's getting resistance. Maybe for today a shooting star or gravestone doji on the daily would be nice. If it comes down A ...

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Nice going!

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If it comes down a double top might indicate it's going back to 1.4040 support before it moves higher. Don't think it's time to break the triangle yet.

Cable Update (GBPUSD)

I'm thinking this. Moved my sell stop a bit higher. RSI almost overbought, I think it will come down but chances are it's just for the retracement. Tight trade management necessary. If it breaks the triangle bias will be up.

Cable Update (GBPUSD)

Hi enny, You are exactly right. I always use my stop loss and my risk size to calculate my lotsize. This is the most important thing. The trade management is also very important, I will adjust my stop loss but only in the right direction ofcourse.

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#17 Trade Setup Fib 78.6 held. Placed a sell stop @ 1.42595 S/L @ 1.42945 (-35PIPS) Lot 1 TP @ 1.41895 (+70PIPS) Lot 2 TP @ 1.40595 (+200PIPS) R/R = 1 / 3.85 Doji or spinning top on the H4 would be nice. Checking back in 3h. Time for some food and a ...

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Thank you! You 2 btw Placed a sell stop @ 1.42595 S/L @ 1.42945 (-35PIPS) Lot 1 TP @ 1.41895 (+70PIPS) Lot 2 TP @ 1.40595 (+200PIPS) R/R = 1 / 3.85 Doji or spinning top on the H4 would be nice. Checking back in 3h. Time for some food and a beer ...

Cable Update (GBPUSD)

News Update 19/04/2016 The news could be a mover tomorrow.

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My prediction is tomorrow will be a slow mover. Heading south on wednesday. Update Unless the news gives us some movement. image

Cable Update (GBPUSD)

Using the Fib time zones, early may will be a good time to look out for a descending triangle breakout. Until then trading the range of the triangle.

Cable Update (GBPUSD)

Long term Outlook GBP/USD Using the Fib time zones, early may will be a good time to look out for a descending triangle breakout. Until then trading the range of the triangle unless it breaks out. For now waiting on an entry to go short.

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#17 Trade Plan New plan for trade #17. Will look to short in the red (pink) zone on the H4. Where it has resistance of the 78fib and the trendline. TP in the green zone on the H1 where I will also look for long setups. #17 Trade Setup 1 ...

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