It looks like dxy is descending towards the floor of the range mentioned before and that puts GU very close to 1.25xx level , dxy reaction at the floor of the range would determine mine line of action as GU closes convincingly above 1.25xx, Patience ...

Cable Update (GBPUSD)

Brilliant ! That's exactly the action of market makers, I wish all traders were equipped with this knowledge and there would be more winners than losers.

Cable Update (GBPUSD)

I agree no less with you but dxy Will still guide me on how I will go about trading GU. Since the beginning of this week, dollar index has been moving within a range as you can see in the chart below. How price reacts to the roof or ceiling of the ...

Cable Update (GBPUSD)

I don't really like the way gold was passive to DXY small bullish move as compared to EU and GU. I had to close my sell trades @1923. I expected it to have massively responded inversely to DXY. If trades refuse to move as planned , there is no crime ...

Gold

I suggest you take a look at DXY ( dollar index) , you would notice how resilient it is to the upside. Based on that GU is not attractive to me to go long . If the support at 1.2480 area is broken , GU might trade south today

Cable Update (GBPUSD)

I rejoice with you , withdraw your profits and enjoy the weekend. Avoid temptation to trade further today once your target is met . Plenty opportunities await you next week. As soon as my own target is met, I will do the same

Cable Update (GBPUSD)

I will advise those who are new in the forum and perhaps who are not all that experienced in trading to be careful in following any opinions blindly in this place. It could cost you your account most especially when your risk management is weak. ...

Cable Update (GBPUSD)

Though anything can happen in the market yet , the current structure on GU is clearly to the downside. I hold on to my short while the sl is moved to break even . It is now a risk free trade

Cable Update (GBPUSD)

Not exactly my mate, the rally is to grab liquidity to come down . Dxy is also resilient, GU will trade down Be careful on your long

Cable Update (GBPUSD)

My bias on gold still remains bearish, my sell order is @ 1923.082 and target is 1913.082 . If that works out, I am done for the week

Gold

That's what I have on the table if the support level at 1.0700 holds

EURUSD only

The way this market is dragging , I hope it will not be a trap for the bull . Anything can happen in a quiet market , just watch your back.

EURUSD only

Done for the week ? The pair has only managed to come down by almost 120 pips since Monday and with the way market is dragging now , serious move is in the offing . Are you really sure you will not take action when this happens any moment from now ?

EURUSD only

The way dollar index closes on 4 hour time frame would matter a lot to me . If it closes below 105 level , bull presence can then be felt to bring EUR/USD up

EURUSD only

Going long at 1.0700 sounds reasonable because it exposes me to little risk of at most 20 pips. I have been watching that level since yesterday though I thought the bear would drag it down to 1.0660 level before it bounces

EURUSD only

1908 area could be a support level but that does not mean one should blindly go long from there . There is no support or resistance level that cannot be broken . It is better to watch the price action and let the chart help you on what to do next . ...

Gold

He has more than idea friend, and that is the reason why he keeps sounding the note of warning that you should desist from catching a falling sharp knife . I would rather look for an opportunity to sell and ride with the trend than to trade ...

Gold

DXY is at resistance level , double top formation on daily and weekly chart . Dollar pull back is not unlikely , I did not say reversal but a pull back

Cable Update (GBPUSD)

You need to understand the fact that anything can happen in trading and there is no levels ( support or resistance ) that can not be broken. I am equally eyeing 103.00 level for dxy to see how price would react to that support level and that does ...

Cable Update (GBPUSD)

My little cent to the newbie in the house : Do not base your trade decision on any trader's opinion no matter the level of his experience and trading skills. Trading is based on probability and not certainty , the fact that he is right now does not ...

Cable Update (GBPUSD)