Cable Update (GBPUSD)

Quoting Bella.al

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{quote} Current Rate : 1.10871 i am +26 Pips as i write this and expecting to see R1 1.11800 first.

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Quoting Indiara

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{quote} Yes, I don't believe in 'oversold' or 'overbought'......I agree that it's silly. A unit will be oversold when the sellers have finished selling and the buyers have taken over, and not before. But rsi above 50 is a reasonable indication the Buyers are in control....same for the sellers under 50. Id no guarantee of course, but nothing is certain until the pips are in the bank

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Quoting Indiara

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{quote}{quote} I pretty much do trade in the 'right now', but I use the stoch, rsi and macd do make sure that I can stay with the trend of the moment. I can't swim upstream as I'm not strong enough for that. I check M5, M15 and M30 charts and if they all agree, then I enter on the M15 chart. I have to learn to not wait for my TP if the action drops off or starts going back. I need to get it into my little brain that I should take the pips on offer and not try to go for the home run every time! I will get there....I will!

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Quoting OragonFx

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{quote} You can try using these since you check multiple timeframes free to download at earnforex(.)com goodluck! {image}

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Quoting Indiara

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{quote}{quote} I pretty much do trade in the 'right now', but I use the((( stoch, rsi and macd )))do make sure that I can stay with the trend moment. {image}lol, sorry. i am being nasty... you will get there by experience. You are on a right footing because you are always asking questions.. You have some really good guys in here who gladly help. Trade well.

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Quoting TheWolf

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{quote} One of the professional traders explained this.. Many of the tools were for stocks and overbought or oversold doesn't exist in Forex that is correct. One has to look for tools that are made for Forex (after ~1996). So, London gave some buy but.. Glad I can drink my coffee in peace.. If central banks decide one currency is too weak or too strong and shouldn't be, they'll perform joint intervention.

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Quoting billytt

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{quote} You are are not nasty billy....I like your approach and it's all good information for me to make my trading better

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Quoting Tronis

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{quote} I'm thinking the same, buying GU again from liquidity level. Some trades closed yesterday, some trying to leave for longer. {image}

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Quoting Fardeen1209

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{quote} I used this during my first 6 months of Forex trading, trying to catch the reversal point in USDJPY because the RSI was Too overbought on 30mins, 2hr, 4hr, daily and weekly timeframe. LMAO, got screwed many times Glad my positon was not that big back then, i would already blow my account. Hard truth for newbie, if you want to learn how to constantly win in Forex trading, forget everything you've learn on youtube, cause majority of these dumbos took the aftermath development, and subsequently they are so-called 'professional trader'...

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Quoting Fardeen1209

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With DXY going down but UJ not going down, something fishy is happening.

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Quoting Indiara

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{quote} Did you just say you are long Cable???/ Did you notice the inside bars from UK 16-00 yesterday. i will put chart up. Trading aggressively could of gotten you points. plus the mother bar High has been broken. Did you see earlier, my post said my bias is short until 11120 is broken. Even though i am not trading now, i am constantly watching. A 4 hour inside bar is a vret good trade method. YES,THEY DO FAIL SOMETIMES. Trade Well.

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Quoting Indiara

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I have protected my trade just in case it all goes back again!

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Quoting Indiara

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{quote} I saw that too......Kuroda San also see's this

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