All that money and still drive a Mini Cooper. Bloody love them.. If you like Go-Karts drive a mini :-)
I hope you're still doing great and thanks for all that help you gave me.
It's Forex. Anything can happy and usually does ;-)
Pound Sterling is the week's best performing currency with a poor performance by Labour and the Conservatives in local elections likely to spur the two sides towards agreeing a Brexit deal as they seek to lance the boil that is Brexit.
The Pound's advance accelerated late on Friday afternoon following comments from Labour leader Jeremy Corbyn that a deal on leaving the EU must be decided by the UK parliament soon.
Always expect the unexpected.. Or it will fly though those pivots like a knife in hot butter ;-)
One last post... I was home alone ;-)
89% of retail traders where short GBP at the start of day Friday 3rd May 2019.... That tells you with high probability to look for LONGS in the GBP.
Simple method. Look at what the GBP futures market was doing. In the afternoon of Friday the GBP futures market quickly rose to 0.50%. BUY the GBP. Will it carry on the move? Well maybe, maybe not but you had two things on your side.
One: Retail where selling the GBP. 89% where selling the GBP combined.
TWO: Big institutions where buying it. Like massively buying it. Labour leader Jeremy Corbyn words helped the move up.
The GBP futures market ended up 1.10% on the day. So if you bought the GBP when it reached 0.50% you would of made 0.60% if you closed just before the markets closed. Around 950 pips. Well 95 in real pip terms. 950 points.
Just from one GBP pair
The GBP/USD rose up 1.14%
The GBP rose against the EURO by 0.80% on the day
The ISE SPOT GBPUSD (INDEX) Nasdaq Daily rose 1.07%
That has happened twice this week.. Wednesday and Friday. Edit It was Tuesday not Wednesday.
Don't buy against the power of the institutional traders what ever your method says to the contrary. You will always end up losing.
Very nice trade though. Plus 1.99% this week for the pound. +0.0258 (Forex futures)- Well hope it continues. This brexit rubbish is getting the country very frustrated.
Carry on keeping the queen happy and I'll look into what you asked me the other day.
Oh yes, the GBP against the WCU rose 1.78% this week. With rises of 0.89% on Friday and Tuesday a rise of 0.66%. Other days pretty quiet.
Let's see what next week brings us.. Holiday in U.K Monday so expect a slow day in the GBP) - With the Conservative party and Labour party. (Two main parties in British politics) losing hundred of seats in the local elections, it will now wake them up and get together to sort this Brexit mess out. One reason the GBP moved so much Friday.
Keep it going and carry on trading and make the queen pay the swap charges LOL
I'll just post this and say nothing........ Never trade gaps until the market settles.
The money flowing into the JPY is enormous.. Sorry Davit. I mean it.
Quick, easy in and out.... Never follow the dumb money.
That was the quick trade I took. AUD/JPY sell... BIG in and out. I need sleep ;-)
JPY futures now at 0.70%
Maybe later i will ask some questions , let me keep reading and soaking in this perspective.
No more trades today though as it's a British bank holiday. London markets shut till tomorrow.
I don't come on much now but try to look once in a while and post if and when I can.
See if this GIF works..... YES, it's an old DEMO on the dreaded MT4. The retail traders thingy.. oh how I hate it...
Was just testing this to see if anyone across this place would like gifs or video's of trades instead of those screen captures. As all are aware they can be photoshopped... Or take two trades in the same pair and post the result of the one that WON...
No they are not real trades. Only a nutcase will take all those GBP trades.... I did know that the GBP would drop though hehehe...
Click the image to play it ;-)
Neil thanks for the post though not surprising, for me because GBP was the weakest pair this week based on scorpionfx and following the steps on post one almost all the trades were valid. Just want to know why you took GBPUSD? Because the USD was equally weak. Hope my question is not dumb.
Just finished reading the thread today, will still have to go through again to have a firm grip on some things.
The other question i have is concerning strength meters, what do you do when you have a conflict between scornpionfx and dennis strength meters. i know one is weekly and the other daily. i know it can be double confirmation when they align. But today they were conflicting especially with regards to GBP considering your trade.
Very cool - we don't have any trust issues here Neil. Whatever is most convenient for you.
Thank you for educating us on the above few posts.
I even opened a GBP/CHF and the CHF was having money pumped out of it as well. I.E They where both weak. Hope that makes sense.
I will update you later as have to pop out for a few hours ;-)
World markets slump amid US-China trade tensions.
Yen remains strong as US stocks continue pullback, this has been the pattern this year, Stocks rally - Yen falls, stocks fall - Yen rallies.
In the US the Dow Jones ended 1.8% down while London's FTSE 100 fell 1.6%.
Someone let Davit know where all the money goes. Into the JPY
If the World stocks fall, the JPY rallies and vise versa. What an example today. Pure gold ;-)
It just gets better. Looks like more and more pivot traders are buying against the JPY.... Keep buying against it pivot traders then I can buy a yacht and live in the south of France.
Time to leave again...
World markets slump amid US-China trade tensions. When they slump the JPY (as a safe heaven) rallies.
I can't stand this place no longer in what I see and read..
Bad trader. Bad advice and he is supposed to be an expert on fundamental news.
As CHF is strong today why such difference in XAU/CHF + and WCU/CHF - . Many times i have seen xau/currency doesnt change fast and one is ++ and other is --.
So is it better to follow only WCU/currency for money flow or wait for xau/chf and wcu/chf to align same and then take trade.
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