Cable Update (GBPUSD)

Quoting gammase1

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So what you're saying is everyone should wait until, say, at least 10 minutes before shorting? Perhaps after a bearish m1 (or m5 for those boringly cautious types) candle - a clear sign of the trend reversing?

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Quoting cloggie

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This is just a PR exercise, Congress wants to show the general populous that they are attacking what they see as the root evil of further economic growth, it has nothing to do with their own domestic policies or lack thereof of course...

China is not going to increase the value of their currency, that would be economic suicide at this point, the US is talking about QE and so is the ECB and BOJ, the last thing China wants to do is increase the value of their currency, it would mean that there is less capital available within China to grow their...

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Quoting cloggie

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We like the M5 trend reversal traders, good for liquidity.

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Quoting cloggie

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We like the M5 trend reversal traders, good for liquidity.

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Quoting cloggie

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Yeah, but it is fun to watch... What would happen to the entertainment value here if all the emotional traders would dissapear?

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Quoting gammase1

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I've just seen a doji on the M1, followed by a bearish candle spanning 5 pips. If that's not a confirmation that this is about to reverse, then I don't know what is. Time to press that sell button, me thinks.

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Quoting A-speculator

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cmon man.. 1m candle to look for reversal?

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Quoting cloggie

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Of course, that is the key leading indicator. Everything else just lags....

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Quoting A-speculator

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cmon man.. 1m candle to look for reversal?

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Quoting Uphios

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Hi Pipchick. Thanks again for the heads up, at least I managed to balance my shorts with a long which I have just closed.

I am hoping the H&S now plays out and we go back to kiss the neck line or there abouts and then I will close shorts and place long on again. Should this fail I have a pending long to carry on from my close and I will try again at the next junction.

Hard work this just to break even!

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Quoting Sunsi

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Thanks for a great post!

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Quoting gammase1

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Only because my broker doesn't do 10 second charts, otherwise i'd use a doji on that timeframe as my trend reversal signal.

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Quoting A-speculator

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cmon man.. 1m candle to look for reversal?

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Quoting PipChick

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So if you fib the m15 chart, the 50-61.8 comes in around the NL (the h1 NL). Im not sure it will retrace that far but if price DOES come down, watch the macd for bullish Hidden divergence to form on a fib level. That would indicate the end of the down move (pullback) and a new entry to the long side.But if price breaks todays hi, look for 5882 next. Place a 50 ema on your m15 chart...that may be as low as price retraces to if it retraces.

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Quoting cloggie

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Yeah, but it is fun to watch... What would happen to the entertainment value here if all the emotional traders would dissapear?

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Quoting gammase1

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i·ro·ny


–noun, plural -nies.

Tthe use of words to convey a meaning that is the opposite of its literal meaning: the irony of her reply, “How nice!” when I said I had to work all weekend.

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Quoting PipChick

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LOL..it would be very boring. But on a serious note, I have watched all week and have seen a lot of lack of patience and I think that is what can make or break a trader.

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Quoting PipChick

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LOL..it would be very boring. But on a serious note, I have watched all week and have seen a lot of lack of patience and I think that is what can make or break a trader.

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Quoting pres78

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Do you adjust your fibs each time a new swing high or low is made or is it based on daily high low from previous day?

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