Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

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#263,881
Nov 10, 2010 12:59am Nov 10, 2010 12:59am

lerix
| Joined Oct 2010 | Status: Trader | 4 Posts

Hey Guys,

I'm tempted to do a news trade but I've never traded during an inflation report before, I'm just wondering how much impact will this have? Like 100 pip fluctuations?

#263,882
Nov 10, 2010 1:25am Nov 10, 2010 1:25am

ikdenk
| Joined Nov 2009 | Status: Trader | 789 Posts

Quoting Fudomyo

Disliked

We should get some nice PA going into NY session, London and Europe close, and potentially after NY lunch which, for me, makes more sense to trade than news.

Ignored

With the change in times I am now able to trade the afternoon NY session.

I have read that quite often the direction reverses after NY lunch at 2pm NY time. Is that correct?

Also what are the opportunities at Roll Over at 5 pm NY time? Profit taking just before close of session- reversing daily direction?

Any progress on the 6 am GMT mentioned on the thread a few days ago?

#263,883
Nov 10, 2010 1:28am Nov 10, 2010 1:28am

kaspopsicle
| Membership Revoked | Joined Mar 2010 | 3,853 Posts

Quoting Fudomyo

Disliked

The Inflation report is the main news event this week for GBP....

Ignored

Brilliant post. Thankyou

All systems of divination, like music itself,work through patterns.

#263,884
Nov 10, 2010 1:38am Nov 10, 2010 1:38am

Cobby
| Joined Aug 2010 | Status: Trader | 301 Posts

Can anyone point me to a good resource for determining/understanding the price action?

I don't really understand what constitutes a swingpoint on any particular timeframe, is there a classical definition that is widely used or does every one just use their best judgement?

any help is much appreciated

thanks in advance...

#263,885
Nov 10, 2010 1:47am Nov 10, 2010 1:47am

PhAnTi'
Joined Aug 2010 | Status: Tööröh | 14,292 Posts

Quoting Cobby

Disliked

Can anyone point me to a good resource for determining/understanding the price action?

I don't really understand what constitutes a swingpoint on any particular timeframe, is there a classical definition that is widely used or does every one just use their best judgement?

any help is much appreciated

thanks in advance...

Ignored

take a chart and analyse her for Higher Highs,Higher Lows,Lower Lows,Lower highs to get trenddirection...use Trendlines as well...babypips.com

best regards

Hero calls followed by margin calls...

#263,886
Nov 10, 2010 1:56am Nov 10, 2010 1:56am

Ifty
| Joined May 2009 | Status: Trader | 1,124 Posts

Quoting javapips

Disliked

well, i like doing that, maybe volume addict will act same, also the one who like stochastic, and people that talking about news (hey what's going on), and the one who play with daily range, and the one who bla bla bla i don't know...,

but yes, some time it's just like gambling to me, cos i never sure even 99.999% that price will move to some where, i just 'try'..,but i can't say this is gambling, cos i'm a muslim...
well i have to pray now, see you all this night,

Ignored

I was only messing

. Good luck in your trade sis.

You've got to be IN IT to WIN IT!

#263,887
Nov 10, 2010 2:03am Nov 10, 2010 2:03am

Cobby
| Joined Aug 2010 | Status: Trader | 301 Posts

Quoting PhAnTi'

Disliked

take a chart and analyse her for Higher Highs,Higher Lows,Lower Lows,Lower highs to get trenddirection...use Trendlines as well...babypips.com

best regards

Ignored

I checked the school section and it only gave a generalisation of trend at best...

i'll keep seaching ......i'll dig deeper into their forums

thanks for the tip PhAnTi...

#263,888
Nov 10, 2010 2:04am Nov 10, 2010 2:04am

chazzle
Joined Sep 2010 | Status: Trader | 11,327 Posts

Quoting Cobby

Disliked

Can anyone point me to a good resource for determining/understanding the price action?

I don't really understand what constitutes a swingpoint on any particular timeframe, is there a classical definition that is widely used or does every one just use their best judgement?

any help is much appreciated

thanks in advance...

Ignored

http://www.investopedia.com/articles.../04/041404.asp

#263,889
Nov 10, 2010 2:08am Nov 10, 2010 2:08am

wormboy
Joined Jan 2009 | Status: Not bothered. | 18,084 Posts

on htf I have a possibility of a pennant forming. will keep an eye on this. break & close below 5975 triggers the pattern while closing above 6015 invalidate it.

Good luck.

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Thank You

#263,890
Nov 10, 2010 2:10am Nov 10, 2010 2:10am

PhAnTi'
Joined Aug 2010 | Status: Tööröh | 14,292 Posts

Quoting Cobby

Disliked

I checked the school section and it only gave a generalisation of trend at best...

i'll keep seaching ......i'll dig deeper into their forums

thanks for the tip PhAnTi...

Ignored

ok no problem, check out james16 thread for technical ideas

http://www.forexfactory.com/showthread.php?t=2331

Hero calls followed by margin calls...

#263,891
Nov 10, 2010 2:16am Nov 10, 2010 2:16am

JanPoko
| Joined Jul 2007 | Status: Trader | 582 Posts

Quoting Cobby

Disliked

Can anyone point me to a good resource for determining/understanding the price action?

any help is much appreciated

Ignored

Best resource for the PA understanding is a long-term experience. After you have sat some 2 - 3 thousand hours in front of your graphs for a few particular money pairs, you start to understand the price action fairy well. Nothing else helps, not even the most complicated tools of TA, believe me. Experience and MM, that's all.

#263,892
Nov 10, 2010 2:21am Nov 10, 2010 2:21am

PhAnTi'
Joined Aug 2010 | Status: Tööröh | 14,292 Posts

Quoting JanPoko

Disliked

Best resource for the PA understanding is a long-term experience. After you have sat some 2 - 3 thousand hours in front of your graphs for a few particular money pairs, you start to understand the price action fairy well. Nothing else helps, not even the most complicated tools of TA, believe me. Experience and MM, that's all.

Ignored

the question is how to start

Hero calls followed by margin calls...

#263,893
Nov 10, 2010 2:21am Nov 10, 2010 2:21am

Cobby
| Joined Aug 2010 | Status: Trader | 301 Posts

thanks everyone...

#263,894
Nov 10, 2010 2:23am Nov 10, 2010 2:23am

JanPoko
| Joined Jul 2007 | Status: Trader | 582 Posts

Quoting PhAnTi'

Disliked

the question is how to start

Ignored

with a truck-load of patience, in the first place...

#263,895
Nov 10, 2010 2:23am Nov 10, 2010 2:23am

chazzle
Joined Sep 2010 | Status: Trader | 11,327 Posts

Quoting wormboy

Disliked

on htf I have a possibility of a pennant forming. will keep an eye on this. break & close below 5975 triggers the pattern while closing above 6015 invalidate it.

Good luck.

Ignored

M5 break of neckline on this little H&S in same place...5975

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#263,896
Nov 10, 2010 2:25am Nov 10, 2010 2:25am

PhAnTi'
Joined Aug 2010 | Status: Tööröh | 14,292 Posts

Quoting JanPoko

Disliked

with a truck-load of patience, in the first place...

Ignored

ok well^^

Hero calls followed by margin calls...

#263,897
Nov 10, 2010 2:25am Nov 10, 2010 2:25am

GlobalMacro
Joined Mar 2008 | Status: Taking Care Of Business | 5,587 Posts

Quoting GlobalMacro

Disliked

she just took out the base @ 1.6065...so the aforementioned scenario is out of force...

Ignored

Break of 1.6065 support last night triggered a fierce collapse of price
113 pips down to 1.5952

Cable remains heavy for the time being...

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Hear the music before the song is over ...

#263,898
Nov 10, 2010 2:26am Nov 10, 2010 2:26am

bbmac
Joined Jul 2007 | Status: Trader | 5,392 Posts

Boe website playing soothing classical music on the live stream feed whilst awaiting the 1030am london time Uk Boe Qtrly inflation report and King's press conference...wonder whether it is the calm before the storm? price remains off the current intraday hi and lo just at the moment.

G/L

ex member