Cable Update (GBPUSD)
i have a pending sell limit at 1.4374...
it's the R1, and the high of yesterday...
i think minimum we can get 20 pips from that...
but remember that i'm only a newbie...
Hey Nav, how could you ignore that mother of a 4H bullish engulfing candle off a round number, 1.4100?
if i was here id have assessed the damage and made a planBetter reasons to short individual banks. "I would imagine" - not a good trading strategy, friend.
Even if you knew which bank, there is no way of knowing for certain whether it's an unwinding of long position, or a fresh short position, for a client or for their own account. Also, given we have no idea of the size, you cannot possibly quantify on a potential loss, if any.
This sort of information posted by FXLocal is useful for getting understanding of short-term directional pressures in the market.
Bro... I am probably wrong of course, but just trying to make some sense in this spike upwards... anyways I had already taken my pips when it went south earlier today - now is your turn (good for you) - and soon (i hope) it will be mine again, when it goes south again !!
long TP at 1.438 with SL 100 p
i didnt ignore it ..i just wasnt at home when it happenned...
the drawback of leaving the house whilst trading
it still needs to hit my stop thou and thats at resistance so till then i have a slim chance.
what im doing is placing my stoploss and then whatever happens, happens..it broke the low of the previous day if it breaks the high then...theres signs of potentail reversal, its not often we see this
the body of the monthly is very small as well..
