Cable Update (GBPUSD)
i cant beleve this currency is behaving like this ......how can it fall like this and have no sign of going up.....this is just impossible to apply technical analysis..candles sticks, pin nothing is working except selling and now we seeing nonfarm.......anything can happen...
Hey Nav, its also got me puzzled as well. But when i look at what is happening with the UK Economy, its all coming together and making sense.
For example, the Bank of England have kept interest rates constant at 5% for the past 5 months. During this time Inflation figures have doubled from 2% to 4.4%, which is well beyond exceeding their 2% target. Consumer spending has decreased, due to the Global Credit Crunch. The House Market is falling pretty fast as well, the Stimulus Package which the Chancellor released on Tuesday (i think?) won't save the economy. The next figures for the UK GDP will very likely be -0.3% - which is where the UK is going to be heading into a recession. So there could well be more downside action when those figures are due for release.
As for NFP's, i have never traded on a day where its due for release, because i just wouldn't know where to jump in and his way it would go.
ForexRookie
, i decided to change my system to a trend follower instead of (my secret previous code which will remain unrevealed until further notice). I am on demo again, i stopped all live trading and back to testing this new system. Until now got 2 operations and the third on-going. 
hi everybody
well after losing most of my profits (around 8k) in 6 weeks due to market volatility and mind volatility
Yesterday
sell EURUSD 1.4478, t/p 1.4437, s/l 1.4496 :+41
sell AUDUSD 0.8239, t/p 0.8182, s/l 0.8269: +57
sell USDJPY 106.71, t/p 105.76, s/l 107.43: still on-going
wish me luck and hope the market volatility stops soon to run my old system
Always good in the future though to have two systems.
I agree but lets face it....we are on the brink of heading into a reccession not actually in one, i think this has more to do with a US election than anything else.....we been trading a range and if anything traders have been confused to where this is going....
people high up are causing these moves, blasting supports and giving a new meaning to the word.like speed reducer....
I only been trading since jan and i never seen stuff like this...and am just pout of my comfort zone...
i like that part of giving new meaning to the word, that's funny.Yeah then once you start trading this system live it will go back into range mode. hehehehe
yes this a agree 100% with and is something i need to start doing.,,
