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Cable Update (GBPUSD)

  • #445,681
  • Nov 22, 2016 9:53am Nov 22, 2016 9:53am
Quoting jbmaverick
{quote} It could well go that way - but personally I'm inclined to think that a December rate hike in the U.S. is already priced into the market since that's been considered virtually a sure thing almost all year long.

you have a lot of factors in the formula:
- Breexit , pivot points, trend, resistance

again in it can go all wrong

am re-building positions in the positive side to reach my target.
Thats how I trade
once it work, it makes up for 3 months in advance to give me more opportunities
  • #445,682
  • Nov 22, 2016 10:11am Nov 22, 2016 10:11am
Quoting Toranaga
{quote} http://www.forexfactory.com/showthread.php?t=127271 It rocks !! And you can learn so much. I started trading Forex with THV and i dont regret it. Btw. Have fun reading 25k posts
Light bed time reading then! Thanks.
  • #445,683
  • Nov 22, 2016 10:14am Nov 22, 2016 10:14am
Quoting Toranaga
.. Of course it can go lower, it can go to 0.9 or lower. Why not ? It can be that GB will see the Master of all recessions for the next 2-4 years. .
Real talk, and they won't apologize to all bulls for sinking the pair. Even if the whole world are on bull expectations Lol. The rule of Fx not in textbook is trade what you see not what you feel .
  • #445,684
  • Nov 22, 2016 10:30am Nov 22, 2016 10:30am
Quoting Derivative92
{quote} Light bed time reading then! Thanks.
My pleasure, but do yourself a favor.

Do not ask 'newbie' questions right from the beginning. First read..
Off course not all, i suggest, the first 1/3 then jump jump and then the last 1/3

All questions were asked and all was answered more than 1 time.

But they are also very help full and polite if they notice you are interested and NOT LAZY to read.
And post charts !!! A lot, best way to learn the system.

Its a great scalping system. Love it.



How to opt out annoying user signatures ??
  • #445,685
  • Nov 22, 2016 11:44am Nov 22, 2016 11:44am
.. closed long at minus 20 at 124 300 -

was in at 124 500 but 40 pips on the scalp net for the day.
Long trade as in short from 124 750 on the 16 hour chart below keeping it simple.

The 16 hour chart shows the moves for November so far - trades open on the candle as per usual.

1,200 pips for the month of November on the long chart is the aim.

Scalping on average daily aim 40 pips - give or take some.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-ifcmarkets-corp.png Size: 95 KB
  • #445,686
  • Nov 22, 2016 11:49am Nov 22, 2016 11:49am
[quote=Toranaga;9276684]Historical lows are there because they happened. There is always a new chance for a new historical low. In my opinion, the whole Brexit *$%! is not over atm it is in the middle off, so who can really say that was it and we will not see a another dump to 1.10 or so. Of course it can go lower, it can go to 0.9 or lower. Why not ? It can be that GB will see the Master of all recessions for the next 2-4 years. /quote]

All true, Toranaga - I'm, as always, just making my best guess here. However, with a keen awareness that I may be wrong, I've played it very tight, trying to only take a shot when I can get a very low-risk entry point - very low risk - I bought a couple of times where my stop was just 3 or 4 pips from my entry. I tried buying Gbp/Usd 6 or 7 times on the way down from 1.3000 to 1.2000 before I finally got in the solidly profitable position I'm in now - but the previous 5 or 6 failed attempts to nail a good buy-in point only cost me a total of about 40 pips.
Yes, they can certainly take it lower, but overall I see more reasonable upside potential than downside potential.

Happy trading.
Writer, currency trader, madman
  • #445,687
  • Nov 22, 2016 12:11pm Nov 22, 2016 12:11pm
The only hopeful thing I see at the moment is that they've been leaning on it hard - even as Aud/usd and Eur/usd recovered from downdrafts - ever since New York opened, but still haven't been able to push it below 1.2400, and volume has been falling off ever since they started selling it again after the highest 15-minute close at 1.2433. They obviously haven't given up trying yet, but I think if we see the top side of 1.2430 again today, they'll give it up and turn back north.
Writer, currency trader, madman
  • #445,688
  • Nov 22, 2016 12:15pm Nov 22, 2016 12:15pm
Here is the long trend chart since September first week.
Lets see how December develops.

Nov 9th was a tricky trade from 123 800 to 125 400
then back again to minus 30 on the position - but it closed on 240 pips profit eventually.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-ifcmarkets-corp-2.png Size: 86 KB
  • #445,689
  • Nov 22, 2016 12:48pm Nov 22, 2016 12:48pm
Well, they got the stops right under 1.2400 - now we'll see if there's follow-through or if that's all they wanted. There's actual some moderate support right here, from 1.2380-1.2400.
Hey, I'm just thankful that I'm long from well below here.
Writer, currency trader, madman
  • #445,690
  • Nov 22, 2016 1:24pm Nov 22, 2016 1:24pm
Quoting Derivative92
Added shorts in the wicks of this afternoons spike. Following this trade plan before I start to add longs. Anyone thinking similar? {image}

On on the right path. More shorts added that I will cash in at 1.23000.
  • #445,691
  • Nov 22, 2016 2:25pm Nov 22, 2016 2:25pm
Quoting Derivative92
{quote} On on the right path. More shorts added that I will cash in at 1.23000.
Thinking theres some more room left for shorting but totally on the lets go long plan - after.
See how it plays tomorrow.
  • #445,692
  • Nov 22, 2016 2:47pm Nov 22, 2016 2:47pm
Quoting dean1star
{quote} hey wd just put messaging back on so give me a shout kinda around - bit here and there but give me a shout - up near the sierra nevada's zone working on stuff .. might be in Bn21 end of week
Hey Dean,

I am in Alcaidesa on a trading course. I think you are probably a couple of hours away. I believe it is snowing up there? First I've looked at the forum since I've arrived. Don't know how to shout on the forum. I am here until Sunday. Course finishes on Friday.
Striving for consistency
  • #445,693
  • Nov 22, 2016 2:57pm Nov 22, 2016 2:57pm
Quoting dean1star
{quote} Thinking theres some more room left for shorting but totally on the lets go long plan - after. See how it plays tomorrow.
Tomorrow should be an interesting day indeed - high impact Gbp news, plus just seeing how the market feels after the past two days. If it closes around 1.2420, will the bears feel like trying to push back below 1.2400 again when it took hours to do today, and pretty much popped right back up? You can easily read this market as headed up or headed down - there are cases to be made either way - for example, you can look at today's action as an indication that Monday's rally is doomed to fail, or you can see it as just roughly a 50% retracement of Monday's move, setting things up to resume rising.
Writer, currency trader, madman
  • #445,694
  • Nov 22, 2016 10:45pm Nov 22, 2016 10:45pm
Quoting yuddy
{quote} Hi HD, how does the fib time zone works? Pls explain what is 1,8,13
Hi yuddy

You can find fib time zone in MT4 which can be found in APP store also.

You can PM me and i can help outside of GU thread.

HD
FREEDOM IS SECURITY.
  • #445,695
  • Nov 22, 2016 11:33pm Nov 22, 2016 11:33pm
Its Christmas my esoteric traders.


Historical candle set up.

This candle stick formation to 2013.

2014, 2015 below 200MA and fell. Current price in 2016 is below 200MA.
2013 above 200MA and made higher highs.

Read into it what you will.

Just an observation.

Dioramas welcome.
Attached Images
FREEDOM IS SECURITY.
  • #445,696
  • Nov 23, 2016 12:03am Nov 23, 2016 12:03am
Accolade avant garde.
Deja vu epitome?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2015 decider.jpg Size: 276 KB
Click to Enlarge Name: 2014 decider.jpg Size: 257 KB
Click to Enlarge Name: 2013 decider.jpg Size: 286 KB
Attached Image
FREEDOM IS SECURITY.
  • #445,697
  • Nov 23, 2016 12:15am Nov 23, 2016 12:15am
Inserted Video
  • #445,698
  • Nov 23, 2016 12:28am Nov 23, 2016 12:28am
Watching this spot for bullish activity


Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH4.png Size: 24 KB
Come with me if you want to live....
  • #445,699
  • Nov 23, 2016 2:32am Nov 23, 2016 2:32am
Quoting hippiedog
Accolade avant garde. Deja vu epitome? {image} {image} {image} {image}
So in summary what's your view sir?
  • #445,700
  • Nov 23, 2016 3:10am Nov 23, 2016 3:10am
100 pips closed first short trade at 123 750
second short trade will let it run some more.
Expecting to go long later on in the day.
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