Entered at 5217
SL hit at 57 for +60 pips.
Looking to sell again around 15250. Will set a limit order.
Limit order not triggered, shame as price headed to and hit the 15100 level.
Fridays price action to me was bullish and looks as though the recent selling we saw was corrective only.
Therefore I will be looking for buying opportunities next week. 15400 & 15700 as targets.
Got long @ 15216 - SL is being trailed tightly @ 15241 as not moving too aggressively at the minute.
Stopped at 15250 +34 pips.
Long at the breakout of 15400 yesterday at the minute. Target is 15750 but will trail the stop.
Locked in 50 pips but may close for the weekend. Undecided for now.
Stop hit +50 pips.
I am going to long Cable if we break above 1.5565
:60: May the trading gods grant your request
This is one of those times by the trading gods granting your wish, they have got to grant mine
Good Luck
Have closed majority of a long I have been in since the 13th at 15463 and leaving a little for 15700. Will close ahead of weekend if not reached.
Is anyone else trading?
Should have added I closed at 15629 and have moved stop to 15540.
Stop now at 15620 as weekend looms. Would still like 15700+ but also don’t want to give too much back.
Stop hit @ 15620 for 157pips on 2nd half after 166 pips on first half. So 161.5 full pips. Trade was half my normal risk so not as big a gain as I would have liked but still a nice one nonetheless.
Hey, been busy with work so not had time to update here. Trading has continued to go well and looking back through the thread helps see how longer term objectives were reached. A good lesson there for me to trade consistently in my method and the gains look after themselves.
Another lesson, consolidations as tough as tough as they are, with good risk management can protect the capital allowing the account to grow when we get back trending.
Here’s a current trade I’m in which I was looking for a scalp down to 16000 level. I have taken 2/3rds off now and therefore am leaving the rest on hoping it doesn’t retrace back to the entry point as I think 15900 is a realistic target from here.
I took the trade as there has been no conviction to rally above Wednesdays high on Thursday / Friday last week and also yesterday.
That’s why I think it may slide lower today and if it can take those lows around 15880 then I may hold longer term.
Stopped out at 15970 for +70pips on the second part of the trade after taking 2/3rds off at 16005 for 32 pips.
Generally the cable is a slang among forex traders implying the exchange rate between the U.S. dollar and the British pound sterling. Because it is convention in forex for most major currencies to be quoted against the U.S. dollar on a regular basis being a popular carrier currency.Cable can also be used to simply mean the British pound sterling. Borrowing more light from Investopedia, you may hear someone dealing with the forex market saying, “The cable is up today,” or, "The cable has been trending lower lately."The origins of this term are attributed to the fact that in the 1800s, the dollar/pound sterling exchange rate was transmitted via transatlantic cable. Forex brokers are sometimes referred to as “cable dealers”. Most traders are really good with this currency pair as it is one of the blue chips.
I’ll be watching closely this week as there is a potential breakdown in this pair since it failed to rally much above the 16800 level.
As it’s approaching a key support level we’ll see if this a short to medium term change in direction or just a corrective move before resuming the impressive trending behaviour of the past few months.
My initial basis for the week is bearish due to last weeks close and Friday’s rejection.
