Cable Update (GBPUSD)
). that is to say what chance does a rising wedge have of breaking to the upside instead of the down side and vice-versa.hi,
Hope everyone enjoyed the rocket today. I missed it because I was looking for a better entry. Actually I was off by 70 pips
A question: Does anyone have any statistical data on wedges/ (vegies
Thanks in advance.
Not to be pedantic, but your decimal stop is in the wrong place and it looks like your quoting a Yen pair. Although $155 for my pound seems a good price. Maybe with Benanke threatening QE2, it might actually happen... lol
did great yesterday short from 5580 cracked at 5510 ..
messed up in euro ..short open from 13112 and play is on just one small position..I see euro approaching to near land mark area 13338 tight resistance have my stop set there for sure ..
I don't really pay much attention to wedges or trend-lines for that matter, except to perhaps see that we are in one.
As I typically trade off the 5m/1m charts, I look for buy/sell pressure and try to watch my entries. Getting into a play a few pips late never killed me, trying to guess tops and bottoms has handed me my ass a few times.
Not much of a break downside on EU to be sure...looked toppy as hell, but when the break topside started, that idea never entered my head. I hit the trigger and was in like a bandit.
Awesome job on the shorts down to 5510 overnight. I caught the longside before a little nappy time and managed to have a few dogs in the cable race before FOMC.
Keep on rocking mango...
And, I do agree, folk that have time to enter trade calls and plays, should ought to back them up with a chart. It can really help the rest of us.
