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Cable Update (GBPUSD)

  • #461,061
  • Jun 14, 2018 4:17pm Jun 14, 2018 4:17pm
perhaps GU is doing a retest for the trend and double bottom at same time. lets see if 1.3250 area will hold
Attached Image (click to enlarge)
Click to Enlarge Name: retesttt.jpg Size: 220 KB
  • #461,062
  • Jun 14, 2018 4:20pm Jun 14, 2018 4:20pm
Quoting msniper
perhaps GU is doing a retest for the trend and double bottom at same time. lets see if 1.3250 area will hold {image}
hope so mate..
i see dxy too strong
so stay sideline n wait
just for a cup of coffee...
  • #461,063
  • Jun 14, 2018 4:37pm Jun 14, 2018 4:37pm
Quoting akim0895
{quote} hope so mate.. i see dxy too strong so stay sideline n wait
hehe I took the risk to long now 1.3270 with sl the last low at 1.3200 lets see if it will work. its a big big risk
  • #461,064
  • Jun 14, 2018 4:39pm Jun 14, 2018 4:39pm
40 to 50 pips bounce is expected. Or even more.

If 3250 holds.

After retracement, the price will re test 3250 area and if it breaks ( hope it will break ) , the price will test previous lows 1.3200.

The daily range for this pair is 100 pips.

So you calculate the bounce ( if 3250 holds. )
Intraday only.
  • #461,065
  • Jun 14, 2018 4:51pm Jun 14, 2018 4:51pm
Quoting navk
40 to 50 pips bounce is expected. Or even more. If 3250 holds. After retracement, the price will re test 3250 area and if it breaks ( hope it will break ) , the price will test previous lows 1.3200. The daily range for this pair is 100 pips. So you calculate the bounce ( if 3250 holds. )
thanks mate..
but i see dxy too strong all pairs todays
just for a cup of coffee...
  • #461,066
  • Jun 14, 2018 5:31pm Jun 14, 2018 5:31pm
Quoting navk
{quote} Price will bounce. As long as you maintain MM no need to worry.

With each pip change, how much of a P/L do you get with your regular lots?
  • #461,067
  • Jun 14, 2018 6:09pm Jun 14, 2018 6:09pm
Quoting destroyer69
{quote} With each pip change, how much of a P/L do you get with your regular lots?
It depends on account type. The pip value.

If it is usd account, for each standard lot, 10 $.

For each mini lot, 1 $.

For each micro lot, 10 cents.

check this link. https://www.fxpro.co.uk/trading/calculators/pip

It is easier.
Intraday only.
  • #461,068
  • Jun 14, 2018 6:31pm Jun 14, 2018 6:31pm
Quoting navk
{quote} It depends on account type. The pip value. If it is usd account, for each standard lot, 10 $. For each mini lot, 1 $. For each micro lot, 10 cents. check this link. https://www.fxpro.co.uk/trading/calculators/pip It is easier.
Got it. I can only trade mini lots then sitting in Pakistan. We have future contracts. On the Aug18 one right now. Spread is insane if 6 points and entry and exit of the lot total costs abt 7 pips($7 usd). It's insane.

Each pip change for me is a little over a $1.
  • #461,069
  • Jun 15, 2018 1:08am Jun 15, 2018 1:08am
Attached Image (click to enlarge)
Click to Enlarge Name: ff.jpg Size: 68 KB
to err is human
  • #461,070
  • Jun 15, 2018 1:12am Jun 15, 2018 1:12am
Kamikaze Pound.

Ka-Ching...
Come with me if you want to live....
  • #461,071
  • Jun 15, 2018 1:17am Jun 15, 2018 1:17am
Strong Dollar
All charts/ideas based on UK time zone
  • #461,072
  • Jun 15, 2018 1:23am Jun 15, 2018 1:23am
Quoting sponge
Time projections saying 12th June for next turn a whole week of upside? well let's see .... 1.3450 next resistance 1.3485 for long term long signal, of course below 1.3390 cancels all bullishness but we have a possible June target still at 1.3900
Still playing around with this timing thing, June 12th turned the markets down next turn date 21st June +-3
All charts/ideas based on UK time zone
  • #461,073
  • Jun 15, 2018 1:58am Jun 15, 2018 1:58am
Quoting Ill-b-back
Kamikaze Pound. Ka-Ching...
I' thinking this Kamikaze hits the bridge and explodes a little under 1.31.
Come with me if you want to live....
  • #461,074
  • Jun 15, 2018 2:09am Jun 15, 2018 2:09am
Quoting navk
{quote} Price will bounce. As long as you maintain MM no need to worry.
A rather vague claim? A person should buy and hold because it will bounce! Money management you say... Well why don't you explain your money management for this falling knife we call GU
Read my shouts to get myfxbook link
  • #461,075
  • Jun 15, 2018 2:25am Jun 15, 2018 2:25am
I tend stay away after loosing my 20 pips on yesterday falling knife... it looks like heading to 1.30 region.. as the projection has released for interest rate gb next week keeping at 0.5..also dollar strength contributes.
  • #461,076
  • Jun 15, 2018 2:37am Jun 15, 2018 2:37am
Quoting IggyMon
{quote} A rather vague claim? A person should buy and hold because it will bounce! Money management you say... Well why don't you explain your money management for this falling knife we call GU
You have to see where you took long.

You have 10k account, have 0.5 lot size, you account can survive for 2000 pips.

Work out math


By the way, is it double bottom ?
Intraday only.
  • #461,077
  • Jun 15, 2018 2:41am Jun 15, 2018 2:41am
Quoting IggyMon
{quote} A rather vague claim? A person should buy and hold because it will bounce! Money management you say... Well why don't you explain your money management for this falling knife we call GU
By the way, I have an account of 16.5 k, my floating loss in long is currently 1.3k.
If your account is 500 $, you should not be trading more than 0.05 lots.
Intraday only.
  • #461,078
  • Jun 15, 2018 2:45am Jun 15, 2018 2:45am
Quoting navk
{quote} By the way, I have an account of 16.5 k, my floating loss in long is currently 1.3k.
Why would you hold on to a loss that long? I never got that concept. If you have low spreads on GBPUSD (with IC Markets I have about 0.3 pips spread + 0.4 pips commission in a EUR based account), I scalp the hell out of it. If my trade does not work out right away, I let it hit my (most of the time) 5 pips SL, then simply reenter later on if the setup is still valid. No need to let it go down 70 pips. Just let it go down 5 pips, let it hit SL, wait the next 65 pips down, then re-enter if your idea is still valid and youŽll just have saved yourself 65 pips!
  • #461,079
  • Jun 15, 2018 2:49am Jun 15, 2018 2:49am
Quoting IggyMon
{quote} A rather vague claim? A person should buy and hold because it will bounce! Money management you say... Well why don't you explain your money management for this falling knife we call GU
The price has fallen more than 200 pips in 12 hours.

Every trader has a strategy to trade.

Money management has nothing to do with this fall.

If you have taken 0.05 lot with 500 $ you will not be worrying now. If you have taken 1 lots, with 500 $ account, your account would have blown out by now. This is MM.

Hope you somewhat understand.

Read books.
Intraday only.
  • #461,080
  • Jun 15, 2018 2:51am Jun 15, 2018 2:51am
Quoting geektrader
{quote} Why would you hold on to a loss that long? I never got that concept. If you have low spreads on GBPUSD (with IC Markets I have about 0.3 pips spread + 0.4 pips commission in a EUR based account), I scalp the hell out of it. If my trade does not work out right away, I let it hit my (most of the time) 5 pips SL, then simply reenter later on if the setup is still valid. No need to let it go down 70 pips. Just let it go down 5 pips, let it hit SL, wait the next 65 pips down, then re-enter if your idea is still valid and youŽll just have saved...
Every trader has a strategy.

Yours is scalping. Some one may be position trader...
Intraday only.
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