Cable Update (GBPUSD)

With ya there...right now, still a coin toss for me.

If we cross above 5m 24sma now, I go long....but the chart is sure looking to go short.

Should know more in the next 9 mins.

Bad news for the Pound. Pity. Just as it was crawling up

Keep saying coin toss, as it goes down 100 pips a day.....

some word above that i 'bold' is interesting topic to discus...,

1. > waiting confirmation..,don't be the first, you are not the bank, your money can't move price even one bar up or down...


that word is and old word in trading, and i think that become a 'good' doctrine for us..,




for example (see attchment), we see the doji...,
we know that mean "price is indecision".,
so advise from old man, waiting a candle confirmation after that, and enter maybe 2 or 3 candle after doji..., that's the common rule, right?

now let re-thinking it a while,
actually where is the "indecision" time ?? when doji occurs?? heemmm...maybe not...

'AFTER' a doji occurs = indecision time,
cos every one think, "oh that doji, i will wait"

that time market in indecision...

so, not mention how good our system, in that time (after doji occurs) our probability almost become 50:50 if we choose to trade....and our entry will traveling plus minus in several time....is that nice??? i thought not,...

how about trade in higher price (top) of doji??
that's will make more sanse...cos we are not in indecision time, we wait the confirm from indecision...if price go higher (or lower in down trend) that's mean lie doji, and not time to reversal...,

see again 2 metode from above, (from SL perception)

1. enter when doji
2. enter after doji

SL for both metode almost same, above the doji...,right?

so which one is low risk?

if enter when doji occur SL is about 20 pips (or possible less).
if enter after doji occur i bet the SL (to place after doji) is more than 30 pips.

but maybe this is sound like a "gambling" just like magix say...,cos we buy (or sell) in S & R and don't know what will happen in that place.., and the most important thing when you see that example do you have a courage to enter the market with 1 hour candle so strong like that...?? i bet not...


this is not an influence to enter market in strong move or first place...that would be so danger if you did't know the good S & R..,but if you know,,,hemmmm,..that's would be sooo delicious...

and farther, do you want to be placed in "indecision" place (time)???

overall this is just a "trading style"...which one is most suitable for you..,that's the good choice...



ps :
- sorry magix i use some of your word...,
- sorry to all member, i make this thread become "all in one thread" cos i probably will give post in this thread only..,not other..

Go tiger!

#1 with a gun!

Looks a typical undecisive day I think with no real trend in place. Ideally I'd like to see some short action but think I'll wait for some decent movement.

I'm sure whatever you're trading method is, it's working out for you. But I trade more long-term, and it's going down, so whatever....

Thats the same tripe all the other blowhards spew when they enter into a dog shit trade.

So, rather than being another one of them guys, if you choose to post ambiguous trade calls, maybe back it up with a chart or something.



Happy trading.

I don't need a chart. I've been short for a long-time.... Only a moron wouldn't see it's not going down

lol

Alright buddy...

Like I said before.

Go Tiger!

Absolutely - UK is far from being out of recession - UK is heading for a double dip - unfortunately...

If revised GDP number is -, should expect a fair drop on GU i imagine.

Suddenly, the number of buyers have outstripped sellers by a ratio of 14:1. Looks as if the news will be favourable.

from all the figures release so far, I am not optimistic about UK economy at all.... let's see

NIESR have been most accurate with their estimates and mostly ignored. there estimates 2 weeks ago showed a GDP of 0.4. Better than this forecasted revision. be careful taking an early position on this data.

The way price action reacts , i'd say it should be a bad GDP...but no positions right now ...too risky

Interesting...could be early profit taking?? Just can't see how this release will help GBP. But will be a good one to watch.

1.5350 is immediate resistance if it does pop upwards.

Agreed... It is difficult to envisage growth in the UK being on an upward trajectory from here on in. I have no idea about whether the Q4 number will be revised up or down. Either way, the UK has some dreadful structural problems that will continue to weigh on the economy for many years to come.

Yep, I'm not in any position yet, I'll see if I can gain a few pips after release.

Seems like an end of wave C and a start of wave 1.. how high can it go now? *curious*