Cable Update (GBPUSD)

.... closed @BE

Still has time... could be in london time, for last hope ... Gee
But I don't think will touch that far on daily divergence.. uh.. oh.. who knows...

I hope will touch on 1.6050 and more...

won't go straight below 6160 n 6110 for me

Back above 16185 S/R - trying a long here with TP 16235 area SL just below day low 16170

Shes developing a problem in pushing through daily rollover...i have at 16202. Shorts in play? DX looks indecisive . I'm on the side ...setting alerts above 202 , below 16184 L.O.

my best buy order Crude oil @103.50 stop loss 103.20
http://www.forexfactory.com/showthre...=93534&page=30

taking a hit of -8 as we drop back below this 16186 level...will wait for better direction

I will rather wait for a breakout either way. Today is too choopy.

Hi guys, stuck in a tight range so far for today, breakout of that might see bit of a move

Everyone needs to understand that losses are a part and parcel of the trading game. There is no way that anyone can avoid it. No one can be 100% successful always. So we need to take losses in our stride and try to minimize them as much as possible

@ +.1 pip... GBP is WEAK, but USD is not Strong THUS: Chop

Short 16172, tp 16150 /16120, sl 16192

i'm long cable at 1.6173 SL 1.6160 TP 1.6205

closed for +8 pips..

GBPX is coming up quick USD finally starting to weaken

All of you would have seen the supports and resistances which i provide to all on a daily basis. These S and R are points in which the price is expected to stall and also there is a greater probability of the price falling from the resistance than it breaking. Thats what make the S and R useful and powerful.

But the big mistake that many traders make is to follow the S and R blindly. When the price nears a support or a resistance, we need to analyse the market situation as well as the market sentiment before we decide whether we are going to enter into the trade or not.

The market is like the frictionless ball which keeps rolling in one direction unless and until acted upon by a force. Everyday, atleast 3 forces act on the ball (market). These are the begin of the Asian session, European session and the American session. Apart from these three forces, there could be other forces like news, press conferences, rate hikes etc. but everyday will have atleast 3 forces. Lets say that in the begin of the Asian session, the ball is rolling in favor of the longs. The Asian traders would either choose to slow down the ball or force it to travel in the same direction faster or force it to reverse. Whichever is the direction, the ball keeps rolling in that direction till the begin of the European session (unless there is some news in between. If there is news, then that would be another force which will make the ball gain momentum or change direction). Likewise, the European traders would also make the ball move in a specific direction (either same or reverse). This trend continues during the American session as well and would be interrupted only by news etc.

So when entering a trade based on S and R, it is important to know what time it is and which direction the ball is rolling. The best example would be a day when in the begin of the Asian session, the ball began to roll in the direction of the longs. This continued in the Euro session as well. So midway, through the Euro session it would be foolish to enter into a short just cos we have met a resistance. The ball is rolling in favor of longs from the Asian session and continues thru the Euro session and since there has been nothing to change that direction, it is expected to roll in that direction only till the next force (like the news or begin of American session) comes in. So in such cases, it is better to wait for the next force to come in to get the correct direction (whether the force continues the move in the same direction or reverses it) before entering in the market. For example, on the above day, it would not have been a great idea to enter into shorts at any time just cos a resistance was near.

Hi all. i on buying mode with minimum sl,tp 1.6220 sl 1.6160. and waiting for hunting bear on us seasons.gl for u all

usdx 76.65 from 76.20 few hours ago........