DislikedEurUsd likely testing 1.1280, that should also break days low for CableIgnored
Cable Update (GBPUSD)
- #463,728
- Aug 15, 2018 7:20am Aug 15, 2018 7:20am
- Joined Jun 2018 | Status: Trader | 1,035 Posts
{quote} nope, im not, their reason is usually because they have lost money trying to buy much higher and are now trying to win back what they've lost... and just keep adding, and adding, and adding until eventually there is nothing left, and they try sell... then the market reverses...
Other reasons could be the current key resistance level (on the weekly) we are at...that could trigger a bounce. Structure (EW) is ripe for a retracement albeit it could happen a little lower....and truthfully although the trend is down...there should be at least one retracement of around 250 pips....
and finally...nobody knows...market is the boss...so we should follow it and not predict it
{quote} Other reasons could be the current key resistance level (on the weekly) we are at...that could trigger a bounce. Structure (EW) is ripe for a retracement albeit it could happen a little lower....and truthfully although the trend is down...there should be at least one retracement of around 250 pips.... and finally...nobody knows...market is the boss...so we should follow it and not predict it
actually my coach said it is impossible to win if you cannot predict
So now looks like retails sales USD forecast started to move the price up. SOon will be release, lets see how it goes
- #463,730
- Aug 15, 2018 7:24am Aug 15, 2018 7:24am
- Joined Dec 2015 | Status: Trader | 7,803 Posts
{quote} Other reasons could be the current key resistance level (on the weekly) we are at...that could trigger a bounce. Structure (EW) is ripe for a retracement albeit it could happen a little lower....and truthfully although the trend is down...there should be at least one retracement of around 250 pips.... and finally...nobody knows...market is the boss...so we should follow it and not predict it
should be a retrace of 250 based on what? because it is a round number?
I presume you mean support not resistance?
for some reason during the new they move to the correct price but then reverse. I sold right at he bottom 
1.2689 to not miss the trend. But now it is back. BUt ok, jjust a small position. Probably will get back there
1.2689 to not miss the trend. But now it is back. BUt ok, jjust a small position. Probably will get back there
ok, so todays low is broken ! I and my wrong sell is in profit.
so now to reach 1.277 probalby is almost impossible till tomorrow USD Building Permits news. Probably will need to reduce sell limit at 1.277 and add somewhere closer.
But for me sometimes happens what I think is impossible. Or I would say often happens what is impossilbe But as far as I rememebr that is on lower timeframes where they dont care as much about resistance levels.
Love to watch how price goes down, cant even for myself to go to eat lunch and its 4 PM today I am having holiday so trading almost all day
so now to reach 1.277 probalby is almost impossible till tomorrow USD Building Permits news. Probably will need to reduce sell limit at 1.277 and add somewhere closer.
But for me sometimes happens what I think is impossible. Or I would say often happens what is impossilbe
But as far as I rememebr that is on lower timeframes where they dont care as much about resistance levels.Love to watch how price goes down, cant even for myself to go to eat lunch and its 4 PM
today I am having holiday so trading almost all day
- #463,735
- Aug 15, 2018 9:05am Aug 15, 2018 9:05am
- Joined Jun 2018 | Status: Trader | 1,035 Posts
{quote} What level are you talking about? I think 1.277 is the level and support is 1.259 . So we are closer to resistance. Or you see completely different levels? actually my coach said it is impossible to win if you cannot predict
yes my levels are a mix and confluence of a few parameters...and PA did mark a pause and a small pullback on those.
Yes my friend I predict too...but i am humble and I still only make a move when my set up (if I predicted it) is clearly unfolding or I jump on any alternate one that comes to existence
- #463,736
- Aug 15, 2018 9:12am Aug 15, 2018 9:12am
- Joined Jun 2018 | Status: Trader | 1,035 Posts
{quote} the way you make money in this is by predicting, not guessing... should be a retrace of 250 based on what? because it is a round number? I presume you mean support not resistance?
yes Don I meant resistance, and the 250 is based on a system I use (it is a coincidence it is about 250pips and a round number).
I hope you are winning my friend by predicting...whatever works for you!!
I do predict too but at times I have competing perspectives so I resort to letting the boss show me the way.
Happy trading and a gazillion pips to all!!!
- #463,739
- Aug 15, 2018 9:43am Aug 15, 2018 9:43am
- | Joined Apr 2018 | Status: Trader | 1,732 Posts
All charts/ideas based on UK time zone