DislikedPoor Kiss must be so confused now he'll just end up drawing his trendlines HIS way and still end up being rightIgnored
OMG!!! You are killing me.
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DislikedPoor Kiss must be so confused now he'll just end up drawing his trendlines HIS way and still end up being rightIgnored
DislikedThe things that I have learned from you have been spot on. BTW, I am starting to read "The 10 Essentials of Forex Trading" by Jared Martinez. Have you read this one?Ignored
DislikedWhat I usually do when price breaks the daily trendline (as cable has done), I scale further back and look at the weekly chart to get a clearer picture. Seems to be bouncing off major support at 1.9400 level. This move up may very well take out the last highs (2.1140 area).
zoopyIgnored
DislikedSo a move back to 1.94 would be a potential great buy opportunity. OK I see your thought process. Many times I see the same comments made about going to different time frames for greater perspective. Higher to get the bigger picture, and lower for best entry point.Ignored
DislikedTo be honest, I don't think cable is going to head down that low again. Of course I could also be wrong since the market decides, not me. Here's what I do see "possibly" happening (see attached daily chart).
On my daily chart I have a line chart showing 1.9779 as being of significant value. The closest round number to this is 1.9800 and possibly 1.9750. Based on the information I see at present, I think price may bounce off that area and head higher.
When it comes to the major trend, I always use the weekly timeframe. The lowest timeframe that I use now is the daily chart (before it use to be the 4 hour). Personally I find anything under daily timeframe just noise. 4 hour isn't so bad but I rather not look at it since it can often cloud my judgement.Ignored
DislikedSo a move back to 1.94 would be a potential great buy opportunity. OK I see your thought process. Many times I see the same comments made about going to different time frames for greater perspective. Higher to get the bigger picture, and lower for best entry point.Ignored
Disliked4 hr is tricky..... it is a dangerous time frame to trade unless you are a good trader.... it will fool you more times then let you win... for 4 hr time frame... I have to honestly say... I think raczek is the master... he just amazes me at how easy he makes it look... it is not easy...
I have for a long time felt that on GBP/USD... 1.9750 seems the pivot point... at least for right now.... my only concern for GBP/USD is that I can get to BE on my monthly Pin that I was accidentaly in when the Pin almost failed... I do not analyse anything on that pair right now... I just sit on pins and needles to see if I can get out... I have sat here for a full month now, and finally one of my positions there has gone into profit today... and getting close to BE on the original position... my target was, and still is 2.0200... if it gets there, I am out with 3% profit gained to my account...
While I may use weekly and monthly to amalyse... I belive from now on as much as possible, I will trade based on dailies.... I am fine to have my positions open a few days... but this month long thing has driven me to drinking... of coarse I would not be saying this if I had been in profit all this time...Ignored
DislikedWhy should price go back to 1.94....??? Today we just broke strongly past the daily 365 ema.... this makes a clear shot all the way to the 200 ema... and that will be VERY close to my target.... we are not going to get there today.... I could see retesting back at the 365... but that is at 1.97... not 1.94.... why should we go back to 1.94...????Ignored
DislikedTo be honest, I don't think cable is going to head down that low again. Of course I could also be wrong since the market decides, not me. Here's what I do see "possibly" happening (see attached daily chart).
On my daily chart I have a line chart showing 1.9779 as being of significant value. The closest round number to this is 1.9800 and possibly 1.9750. Based on the information I see at present, I think price may bounce off that area and head higher.
When it comes to the major trend, I always use the weekly timeframe. The lowest timeframe that I use now is the daily chart (before it use to be the 4 hour). Personally I find anything under daily timeframe just noise. 4 hour isn't so bad but I rather not look at it since it can often cloud my judgement.Ignored
DislikedGood call on this one Zoop! Now, what do you think the chances are of this one back tracking and testing that 1.9779 as support now?Ignored
DislikedAnything is possible
Honestly I don't know and that call was just a fluke lol. Judging from what I'm seeing on my daily charts (my daily bar hasn't closed yet so I can't make too much of a judgement here), price could retrace back down to 1.9850 before taking out that daily pinbar.
There are 3 things to consider though (I was watching that pair and it's behaviour today)
1. There is major news coming out tomorrow (2:00am NY)
2. I noticed price didn't really bounce at 1.9900 (this might be because it's late in the day OR there are no buy orders in that area)
3. Since price dropped below 1.9900, that increases the possibility of 1.9800 being tested again since that's the next round number.
Whichever you do, be sure to use proper money management and trust the method you're using to trade with.Ignored