Cable Update (GBPUSD)

Quoting Theoak

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Long in at 1.2547 target 20 pips

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Quoting trumps

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seeing 1.2443 as next bear target {image}

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Quoting Scotteyy

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{quote} Thank you that's appreciated, I am still very new to the game though. Only just hit break-even . I tend to use fundamentals to create my bias, even though it's probably best not to have a bias, I subconsciously have one anyway so I would rather it be supported by something. Currently studying economics so I'd like to put what I'm learning into use in some way. The triple top makes me think there's more downside to come but we shall see!

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Quoting knkie

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{quote} i think economics does come into play in higher frames. Week, Month, Year. I call those the "institutional frames". Once you get into the "traders Frames"" (below the Day) i think its all just Fear & Greed. Not really value based but behavioral. just my two cents. keep following your path.

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Quoting Scotteyy

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{quote} large timeframes are made up of smaller ones at the end of the day.

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Quoting kuroro001

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{quote} I guess the next 6 months will be a dollar play indeed But at this point, we'd need to watch out what equities and commodities are doing. A correction should help the dollar If equities keep rising, dollar may decrease to help the rise

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Quoting knkie

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{quote} my theory is that to a large institution those smaller frames are just noise. They leave those for the retailers to get frustrated over.

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Quoting goldencalf

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{quote} But I got question, if you are insider,and know the future,3 months,economic data,like institution traders know before news, how you will hide or not hide,but obviously if you not hide ant start buy,every one will,and you will not get good price,so how you will collect your position,not to get to much attention..or I shouldn't think about this,cause every body is scare of resistant,and every one is booking profits,it's just how this game is played..I personally don't believe that you need to know economics,cause money moves markets..

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Quoting goldencalf

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{quote} But I got question, if you are insider,and know the future,3 months,economic data,like institution traders know before news, how you will hide or not hide,but obviously if you not hide ant start buy,every one will,and you will not get good price,so how you will collect your position,not to get to much attention..or I shouldn't think about this,cause every body is scare of resistant,and every one is booking profits,it's just how this game is played..I personally don't believe that you need to know economics,cause money moves markets..

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Quoting knkie

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{quote} well im not an economist so Scottey should answer that part of the question. But for me, most trades start out in consolidation (ranging). Then breakout traders come in. The traders playing the pullback come in. More and more traders see the move and momentum trades start. Then price swings a few times and it starts over again. All of that is just traders gathering where price seems to be going and that is behavioral. Fear to miss out on something. I try to catch the momentum move. But any part of that sequence can be used for your own style....

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Quoting trumps

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{quote} Looks like a 1.26 retest on the way

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Quoting Scotteyy

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{quote} I wouldn't say I'm an economist, maybe an aspiring one . Either way I agree with everything you say. In terms of the instutional traders knowing before the news come's out that shouldn't be happening and would be classed as insider trading, however they will most likely have the best software that provides them with the results as soon as they are released meaning they receive the results faster than retail traders although I reckon this will be marginal (a few minutes at most). Also they "hide" their positions by building positions...

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