it may be,...since euro/gbp has no clear view...dolar/yen should be bearish and eur/yen & eur/usd bulish....if euro/gbp would be bulish the same as dolar bearish then the cable would be neutral....my thoughts only.
I've been reading this site for about a month and have been practising using a demo account primarily using one hour charts with some of the systems and tips posted on this site.
Many thanks to all.
I seem to do well when the market is trending.
However, today the cable has been a whipsaw nightmare.
Are there strategies out there to mitigate and make money in such choppy conditions.
I've been reading this site for about a month and have been practising using a demo account primarily using one hour charts with some of the systems and tips posted on this site.
Many thanks to all.
I seem to do well when the market is trending.
However, today the cable has been a whipsaw nightmare.
Are there strategies out there to mitigate and make money in such choppy conditions.
Mouteki - on the majors I get 1.5-2 signals per week on average.
Just got a short signal on cable, but I am not convinced that it really is going down yet and may wait till end of day to see whether we have a pinbar on daily chart (I use both Mouteki and James16 and with some discretion)
Ignored
Yeah, that's just abt the frequency of signals on Mouteki from what I can see.
I also was not convinced by the slow decline of the cable, so I exited my short at 1.9745 for a small profit. Now long on cable (from 1.9761 with SL at 1.9738 and long GBP/CHF with target 2.38
There is plain fool who does the wrong thing all the times anywhere,but there is the Wall Street fool who thinks he must trade all the time..Reminisence Of stock Operator...Wait!!
The smart players buy at the bottom and sell at the top. Any rally from now on is just the "idiot rally" that comes before the fall. The real question is when do we start selling? One way is to try to guess a top (e.g. $2 to the £) but a safer way would be to wait for RSI to break below 70 and stochastics to break below 80 on the daily chart.
The smart players buy at the bottom and sell at the top. Any rally from now on is just the "idiot rally" that comes before the fall.
Ignored
Do you mean that in this "idiot rally" only idiots will profit while the smarties will stay on the sidelines and wait for that drop? I think that smart players will find a way to get pips no matter which way the market is going. But, hey what do I know, I'm just one of the idiots.
Todays trend seem to be going down, I'm selling my long positions if it breaks fib 61.8 (fridays move), for me that would mean GU is going for deeper correction which could easily hit long term fib 23.6 which is around 1.9600
Otherwise I'm buying if price breaks todays channel.
I dive the market without Fear.
i'm short right now..