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Cable Update (GBPUSD)

  • #460,421
  • May 10, 2018 7:00am May 10, 2018 7:00am
Quoting elbert3
{quote} true as long as you keep tight control and be prepared for small losses then hopefully latch on to the bigger move
I experienced this. If you buy on dip, and the PA still moving down, you loose the opportunity to sell.

Secondly you end up adding buy lots to get out of wrong trades.
Intraday only.
  • #460,422
  • May 10, 2018 7:02am May 10, 2018 7:02am
Quoting navk
{quote} Not to follow this type of trading during news events. It will hit your account some times ( most of times )
Yes totally agree, unless you have stops in place never do it
  • #460,423
  • May 10, 2018 7:04am May 10, 2018 7:04am
Quoting navk
{quote} I experienced this. If you buy on dip, and the PA still moving down, you loose the opportunity to sell. Secondly you end up adding buy lots to get out of wrong trades.
My experience tells me that if buy at bottom must have tight stops in place and never average down. Like elbert says must be prepared to lose, its a more discretionary type of trading with no bias except that of buying bottom for a snap back... its not recommended I must say...
  • #460,424
  • May 10, 2018 7:06am May 10, 2018 7:06am
Quoting hippiedog
{quote} I Agree. This chap explains what I would have said. I have strong buy GU and EU. I have strong sell USDJPY and USDCHF. https://youtu.be/HYbFlC7ohbA
Guys, watch this video.

Thanks to hippie.
Intraday only.
  • #460,425
  • May 10, 2018 7:07am May 10, 2018 7:07am
H1 got defended from the immediate support but this new hour is trying to breach it again, anyway its range play and not surprised to see it breakout of the hour or H4 range....
  • #460,426
  • May 10, 2018 7:14am May 10, 2018 7:14am
Quoting Trade-G
H1 got defended from the immediate support but this new hour is trying to breach it again, anyway its range play and not surprised to see it breakout of the hour or H4 range....
Agree. If no big boost the price have a way to 1.3400 or maybe more. Boosters where are you ? Damn!
  • #460,427
  • May 10, 2018 7:16am May 10, 2018 7:16am
Quoting navk
{quote} Guys, watch this video. Thanks to hippie.
Saw it... my views are that everyone will want to buy the lowest and sell the highest institutions and companies included. They will usually have a timeline mapped out to buy or sell and (I believe is not out to con cheat mislead retailers) even very big firms with their inhouse traders will also be very wary when they take position as they can also be countered by an even bigger buyer who is trying to unload or load. So everytime when there is a buying interest, its a region that attracts buyers with needs. Imagine if you are the boss of your company with real needs to buy a certain currency for your business, what will you do? say 100 mil obviously you will not be buying whole at one go right? you may choose to look at the market and timed it when there is a possible low to buy, or when it suddenly move to the region where you find it a good price you may just move in to buy, hence a demand flows in to support that region. Its just that at any one time there are a coagulation of buyers and sellers you need to be at the right side of the trade. my opinion only
  • #460,428
  • May 10, 2018 7:23am May 10, 2018 7:23am
More US news at 1:30 just what we need


Now the wife want's to go shopping

good luck
All charts/ideas based on UK time zone
  • #460,429
  • May 10, 2018 7:32am May 10, 2018 7:32am
Wow H4 looks like a highwave candle in the making
  • #460,430
  • May 10, 2018 7:42am May 10, 2018 7:42am
This guy makes sense his prediction is starting to play out on UJ and EU
Inserted Video

  • #460,431
  • May 10, 2018 7:51am May 10, 2018 7:51am
Does it look bearish on the M5?
  • #460,432
  • May 10, 2018 9:23am May 10, 2018 9:23am
Quoting Trade-G
Does it look bearish on the M5?
Got stopped out in my stop shift.... oh well good night....
  • #460,433
  • May 10, 2018 9:23am May 10, 2018 9:23am
Worked out well buying GBP on leadup to the BOE announcement, made some pennies

Back on to 5/15 min chart I have entered a 'risky' long at 1.3476 looking for a bounce back to 1.3526 initially. Seeing if we have any reaction in this are of bull stops.

So far not much
  • #460,434
  • May 10, 2018 9:26am May 10, 2018 9:26am
Quoting el_duende
Worked out well buying GBP on leadup to the BOE announcement, made some pennies Back on to 5/15 min chart I have entered a 'risky' long at 1.3476 looking for a bounce back to 1.3526 initially. Seeing if we have any reaction in this are of bull stops. So far not much
Was stopped out in almost the same region, my target is 1.34355
  • #460,435
  • May 10, 2018 9:58am May 10, 2018 9:58am
You all a bunch of crazy mofos with these longs against the trend...

I get it, I get it......... Supply/Demand.....Can't go one direction forever......it is oversold..... so on and son on.....

I just haven't seen one thing on the charts for 3 1/2 weeks that suggest I should buy... Guess that is why we all have our own views. So many chances for shorts over that time after pullbacks...

Please someone help me make sense of all the long ideas...
  • #460,436
  • May 10, 2018 10:06am May 10, 2018 10:06am
blank
Intraday only.
  • #460,437
  • May 10, 2018 10:07am May 10, 2018 10:07am
Quoting Trade-G
{quote} Was stopped out in almost the same region, my target is 1.34355

In a way you did, I too did. Bought at low thinking of retracement, but very good money in the end.
Intraday only.
  • #460,438
  • May 10, 2018 10:12am May 10, 2018 10:12am
Quoting navk
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But, these Broker fellows gave me only 42 pips in the spike of around 60 pips.
Intraday only.
  • #460,439
  • May 10, 2018 10:14am May 10, 2018 10:14am
I can tell you, this is pure manipulation. lol
Intraday only.
  • #460,440
  • May 10, 2018 10:22am May 10, 2018 10:22am
Quoting Cwsjr
You all a bunch of crazy mofos with these longs against the trend... I get it, I get it......... Supply/Demand.....Can't go one direction forever......it is oversold..... so on and son on..... I just haven't seen one thing on the charts for 3 1/2 weeks that suggest I should buy... Guess that is why we all have our own views. So many chances for shorts over that time after pullbacks... Please someone help me make sense of all the long ideas...
Price just spiked 50 pips at round the level we were mentioning, on a short term basis you can trade counter to the trend at interesting levels.
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