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Cable Update (GBPUSD)

  • #459,141
  • Apr 7, 2018 3:02am Apr 7, 2018 3:02am
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #459,142
  • Edited 5:35pm Apr 7, 2018 5:13pm | Edited 5:35pm
Quoting Nala66
{quote} You are getting there, Though I have only showed the one type of entry on this RSI there are two types but the second didn't happen so I couldn't show it. Yes I TRY to get three entries but in this case the distance wasn't so hot so it was hard to do so. Even so this would have paid about 35% with those two trades. Applying all the same rules and stuff and see what happens in the 5 min chart below for yet another matchstick trade, not taken by me. These happen all the time within regular intervals. {image}
Hi mate

You were watching also, ha, did you take it?
Sorry correct myself, you wrote not taken by you.

How long are you away fishing for?
FREEDOM IS SECURITY.
  • #459,143
  • Edited 5:39pm Apr 7, 2018 5:16pm | Edited 5:39pm
How did Euronews get revoked? That was a short lived membership.

Quoting EuroNews
ING: GBPUSD will rise to $1.45 in the second quarter "Last month, all the key events - the Brexit talks, macroeconomic data and the Bank of England statement" turned out to be bullish for the British currency, "write ING experts. "In the near future, we will follow the incoming statistics, trying to assess the prospects for cyclical recovery of the pound." If the world economic situation remains, the Bank of England's rate hike in Looks like a decided deal. Current views of investors on the British economy are quite low, so any positive surprises...
This guy.
FREEDOM IS SECURITY.
  • #459,144
  • Apr 7, 2018 7:36pm Apr 7, 2018 7:36pm
Three videos, only one tells it how it really is.
A paradox a mirror of confusion.
Gotta love this guy

Inserted Video


Inserted Video


Inserted Video
FREEDOM IS SECURITY.
  • #459,145
  • Apr 7, 2018 8:45pm Apr 7, 2018 8:45pm
Quoting hippiedog
Three videos, only one tells it how it really is. A paradox a mirror of confusion. Gotta love this guy https://youtu.be/PPuYheUX3No https://youtu.be/aJoypNIr6Q4 https://youtu.be/Y7rXlbHtcqM
I thought the first video and the third were one and the same person, marvelous what a difference a shave makes.
  • #459,146
  • Edited 10:27pm Apr 7, 2018 9:05pm | Edited 10:27pm
Quoting Nala66
{quote} I thought the first video and the third were one and the same person, marvelous what a difference a shave makes.
Reply to you Alan, and then just a general ramble for everyone.

I find it hilarious, so many variables but really it is all about now. I think I may be correct in saying we all try to predict future of price and to our best efforts we exchange our views of where price is heading, but i bet very few of us remain in the market for months or years because we can't help but live in the now.

For example, I don't usually take much time for news personally because the following day there will be more so it kinda makes long term prediction a gamble for me personally hence I would actually rather use indicator, tl's, S&R and intuition. There are very few news events that have the power to create new long term trends on the high time frames and these are the ones I DO pay attention to. This does not mean I will always trade the event.

But that said interest rates are something that I pay attention to, and with talk of rate hikes, it feels like a no brainier currently, it will rise and fall, rise and fall, and it will likely fall slightly during or after the initial release if it has not already found support. Traders will be wondering what is going on. It will be finding support before it breaks the highs. And if it has already found support expect to say goodbye to that current price level.

Why are so many posting avalanche charts?

Just keep buying lows while talk of rate hike is in the air. When and if it happens look for support if it has not already found support. Or even better be in already from a previous support.

I am trying to get in. There is a cycle in years and from a technical perspective it looks to rise for years to come.
My view only.

Imagine if we kick hike after hike after hike in this cycle. I am trying to get in and stay in but it is difficult.

I have 1.7 on my radar.

A bull market will intentionally look bearish at times.
A bear market will intentionally look bull at times.

It's definitely difficult, but never ignore interest rates.
https://www.forexfactory.com/news.php?do=news&id=749088

I think the major will soon be a support.
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FREEDOM IS SECURITY.
  • #459,147
  • Apr 7, 2018 10:25pm Apr 7, 2018 10:25pm
He reminds me of the shoe
Inserted Video
Come with me if you want to live....
  • #459,148
  • Apr 7, 2018 10:53pm Apr 7, 2018 10:53pm
The only truth I know of is that every piece of string is exactly the same length being the sum of its two halves.
  • #459,149
  • Apr 7, 2018 11:18pm Apr 7, 2018 11:18pm
Quoting Nala66
The only truth I know of is that every piece of string is exactly the same length being the sum of its two halves.
Lol, aint that the truth ,for every ying there is a yang ,,,,,,the problem with trading is the 2 halfs of your string,,, one half may be cut in 3 pieces and for the best r&r you need to get in on the last piece
  • #459,150
  • Apr 7, 2018 11:26pm Apr 7, 2018 11:26pm
Quoting hippiedog
{quote} Reply to you Alan, and then just a general ramble for everyone. I find it hilarious, so many variables but really it is all about now. I think I may be correct in saying we all try to predict future of price and to our best efforts we exchange our views of where price is heading, but i bet very few of us remain in the market for months or years because we can't help but live in the now. For example, I don't usually take much time for news personally because the following day there will be more so it kinda makes long term prediction...

To reach 1.70 by when?

Most forecasters have the pound reaching a max 1.50 this year.
  • #459,151
  • Apr 7, 2018 11:29pm Apr 7, 2018 11:29pm
Quoting Samson85
{quote} To reach 1.70 by when? Most forecasters have the pound reaching a max 1.50 this year.
Not got a clue mate, when it gets there I guess. Yes 1.5 first.
FREEDOM IS SECURITY.
  • #459,152
  • Apr 7, 2018 11:49pm Apr 7, 2018 11:49pm
Quoting Nala66
The only truth I know of is that every piece of string is exactly the same length being the sum of its two halves.
I know, I always question long term trades, because I can (I hope) make 100 of times more during the days of the week. In my whole trading career I have only had one position I held for more than a year and by the time I closed it for a few hundred pounds I had earnt thousands on the same move during the days on the same market pair on the same move. Nevertheless it is still opportunity and could be a game changer for others.
FREEDOM IS SECURITY.
  • #459,153
  • Apr 8, 2018 12:57am Apr 8, 2018 12:57am
Quoting hippiedog
{quote} I know, I always question long term trades, because I can (I hope) make 100 of times more during the days of the week. In my whole trading career I have only had one position I held for more than a year and by the time I closed it for a few hundred pounds I had earnt thousands on the same move during the days on the same market pair on the same move. Nevertheless it is still opportunity and could be a game changer for others.
Very difficult for sure ,takes seeing something across several pairs pointing out a major change ,,in this case and as ole N66 pointed out it was a int rate change ,,,, not so much the change but the shifting policy ,,,,,,,,,,when the US started raising rates ,,back when everything else was just gonna fall out the bottom of your monitor ,shortly after that the eur gapped 100 pips above the daily 200 along with the gbp jumping above its 200 , when sheet like that happens find a pull back and get in and hold if you want a hold trade lol,,, here is the kick in the pants tho ,,from that point to now it only averaged roughly 9 pips or so a day on the climb up so big whoop dont think the ole pound is much different for figures . So if you get one 25 pip trade a day you have doubled the climb that looks awesome on a chart but thats about it . Most can find a set up which gets them that 25 pips which is double the climb but they dont walk away ,,, its the lure of seemingly easy money that makes most get over confident and trade till they lose that and a bunch more,,, its not the easiest of gigs to scratch out a living especially on something that can be moody such as cable lol
  • #459,154
  • Apr 8, 2018 1:08am Apr 8, 2018 1:08am
Far as the ole gbp ,,,the weekly pivot was the selling point all week ,, worked good if you took your profit ,,, if you were buying the lows from the 1st 4 days of the week and took your profit at the pivot you done well ,, Friday if you sold thinking last weeks low was broke you got your azz handed to you , if you bought the 4 hour 200 your sitting rather well atm My own thinking is depending on how it opens its probably gonna head up and test the weekly 200 sma area again ,,,, just depends if it starts getting sold from the get go or not so much lol. , cheers all
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  • #459,155
  • Apr 8, 2018 1:22am Apr 8, 2018 1:22am
“I hear ya” digs
Run and bump to from triple top to then move lower
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  • #459,156
  • Apr 8, 2018 2:11am Apr 8, 2018 2:11am
Quoting digger1
Far as the ole gbp ,,,the weekly pivot was the selling point all week ,, worked good if you took your profit ,,, if you were buying the lows from the 1st 4 days of the week and took your profit at the pivot you done well ,, Friday if you sold thinking last weeks low was broke you got your azz handed to you , if you bought the 4 hour 200 your sitting rather well atm My own thinking is depending on how it opens its probably gonna head up and test the weekly 200 sma area again ,,,, just depends if it starts getting sold from the get go or not so much...
Did you just write a review (?)... of what people should have done this past week? I think people who played the book like you wrote, are fully aware of it. Come up with something constructive instead lol
  • #459,157
  • Apr 8, 2018 2:13am Apr 8, 2018 2:13am
Quoting Liquidsnake
{quote} Did you just write a review (?)... of what people should have done this past week? I think people who played the book like you wrote, are fully aware of it. Come up with something constructive instead lol
Not really ,, just wondering if the sell off area was gonna hold ,, dont look like it will but it is the gbp so anything possible ,,weekly chart looking bouncy yet
  • #459,158
  • Apr 8, 2018 2:15am Apr 8, 2018 2:15am
Interesting viewpoint mate. That H4 area was in confluence with the monthly pivot.

Trade safe and prosper.

KP

Quoting digger1
Far as the ole gbp ,,,the weekly pivot was the selling point all week ,, worked good if you took your profit ,,, if you were buying the lows from the 1st 4 days of the week and took your profit at the pivot you done well ,, Friday if you sold thinking last weeks low was broke you got your azz handed to you , if you bought the 4 hour 200 your sitting rather well atm My own thinking is depending on how it opens its probably gonna head up and test the weekly 200 sma area again ,,,, just depends if it starts getting sold from the get go or not so much...
Do your homework, follow the footprints of smart money
  • #459,159
  • Apr 8, 2018 2:19am Apr 8, 2018 2:19am
Quoting KeenPips
Interesting viewpoint mate. That H4 area was in confluence with the monthly pivot. Trade safe and prosper. KP {quote}
It sure seems to want to get above that weekly 200 ,, see if there is any follow thru ,,few things in the right area yet ,,but that dont mean much with the gbp lol
  • #459,160
  • Apr 8, 2018 2:29am Apr 8, 2018 2:29am
Technically pa on cable is disposed further northward but the immediate resistance is around the 1.41460/1.42160 area. Should bulls scale that area early this week, a further northward move can be expected.

Trade safe and prosper.

KP

Quoting digger1
{quote} It sure seems to want to get above that weekly 200 ,, see if there is any follow thru ,,few things in the right area yet ,,but that dont mean much with the gbp lol
Do your homework, follow the footprints of smart money
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