Cable Update (GBPUSD)

thank you for the answer!
i will search something more around the web.
meanwhile i will search another broker

i agree,
on my daily chart it looks like downward channel.
anyway, if n once broken, will give the time to pick long position on the back test.

nothing is predictable imho.
anyway this is my today's h1
price was unable to close below 5910-09 first n then 5940.
i went long 5950 SL 5899 but i targeted below 6000 when i came to office price was already 6040...

Hi BBKing,
What indicator are u using? I saw on the right hand side of your chart, there is some MACD, STA, etc indicator showing the signal for each time frame. Can you share with me. Thanks.

It seems Bernanke made some hints about QE3 possibility in his testimony. Anything concerned with QE3 makes the dollar move crazy, it's the most high-impact 'news' at all. I remember some weeks ago a huge 2-day drop that completely reversed later on was apparently caused by the sole fact Bernanke didn't mention QE3 in his speech; i think it was after last Fed rates release. We couldn't predict it, we only could react on momentum.

I have a penny account with them as I'm learning but a standard account should behave the same. I'm very satisfied so far. Great execution and great spreads (1.4p on cable right now).

that must be SignalBars .. attached ..

Exactly
fits perfectly to upper wedge TL tonight/tomorrow.

I am in with this pair. ill be your bitch if need be. id clean your trend if need be. and id comb your spikes if need be.

Just Back again to the screen.. I didnt trade the US news, after scalped a bit and traded the UK news I got a paint full headache , Used to to get it when I been exhausted spent my time in front of the screen...

But I read a comment from some friends in this thread, that was confused with the way of the Price acted today, and badly some people who dont have any idea to what is going on just make a complicated story that lead to another confusion.. Well as a newbie I can say : I'll lost much more money if I follow those complicated analysis & observation, besides I have no idea if the person is really a live trader or just a virtue trader that still in practicing some demo account...

Because when U trade a real money U dont have much time to write an analysis while Ur account is moving up and down, U made the analysis before U jump in to the market.. Another story when U traded with the real money U can see an emotion there when Ur analysis is going to a wrong direction and cost U lost some money & used to U need a break to control Ur Self, that is another story with the trader who just trade with the virtue account when its analysis is going wrong, in second they make another analysis when its wrong again in second they make another analysis again and no burden and emotion involved at all because it just a virtue account

So let me share what I know my friend , hope this would be useful for our good together, but first before we start please leave those complicated thinking far behind Ur Brain..

1. Time Frame

This is one of the most important part in Forex Trading, so let we start only with a very important TF : Weekly TF.. the daily TF is following the trend in the weekly TF.. And the TF under the daily TF such as (1m,15m,30M,1H,4H) is following the trend in the daily TF, but each TF under the daily TF is acting with their own movement but still following the major trend in the daily TF , so if we gonna trade in the TF such as 1m,15m,30m,1H, 4H it go back again to us how much money we have to set a SL and is it following our Money Management, U can not push Ur self to trade in the 4H TF if the SL push U break ur money management rule..

2. Candle Stick Analysis

This is the most important Live Indicator that tell us what is going on in the market and what is the possible things that will be happen in the next time.. U can read an article, book or following the courses of candle stick to get the knowledge more on this part and when U used to trade with the candle stick then U will get a feeling based on Ur Knowledge about what is happening and what will be in the future Price Action.. I posted some candle stick patter in my post based on Live Trading that Just wanna share that candle stick does tell us what need to be done for the next step..

3. S/R Lines

This another important things in forex, this will tell us where is the limit the price can go Up or just fall down in to which limit and help us a lot to watch and differentiate which one is the breakout or the fake out, then will lead us to take a decision to trade the Breakout or the Fake out..


That is all What U need.. SO if some People is asking why there is a Strong bulls Move today..?? For Sure Because our Candle stick in daily TF show Us it is in the Bulls Trend..

When to take the action to start the Bulls action..??, ...That is why U need to get the Knowledge about the candle stick and S/R Lines that will tell us : " OK U can in Now with Bulls action"...

That is all my friend, no news no complicated technical analysis with a bunch of indie and EA.. As U can see I used to posted what the Price Action will be far a way before the news is being released, and Alhamdulillah its happen just as predicted..

Please feel free for any disagreement , more input, critics since here we are learning and sharing each other for our good together..

Salam

hello
i agree most part of your post.
but sincerely i disagree which maybe is the main fact:
today has been very hard to trade imho.
we are probably at the bottom of trend reversal, but today was also possible a move into 58 again. candle after candle the confirmation came.
what made me confused was the move in the cyrcled area below.
i closed my long half near daily high (previous) and half @BE+1 (5951)
price was going down 'free' was like a huge lack of liquidity....
i took a breake.
when i came back price was 6040 or above n going high...
who would have expected a move like this?
who would have expected bernanke reminding 'QE3' today?
no one!!! only thinking on a med term a recover from 58 to 60 n 61 was predictable (i also said)..... but yesterday nobody would have said :'tomorrow we get into 61's
im with those who thinks that today market was bit harder than normal trading days!

hello
yes is the signal bars you find here below.
i only use it for price signal and pips of spread.. i never look at other bars so i dont know if are correct

Thanks King For Ur brilliant input

I learned a lot from Ur Post

Besides for me everyday is a hard day to trade forex because its dynamic..

The Big Boys just made a news as their black goat for their own profit, let take the case in the WTC bombing on September 2001, at that time USD is higher then the Euro, but when the tragedy of the WTC is happen then the Big Boys just made that as the black goat to be the cause of the Decline of the USD to Euro, until now the USD Price is still in the lower price again the Euro compare to the condition just before the WTC Bomb happen, because if the price just get normal such as before the bombing then they gonna get a big loss, that is why they need the black goat to ensure people to follow their action to make USD declined again the Euro and that is what news for.. And if the reality is just do not match to what they want then who cares, they have a lot of capital, even Georgo soros have broke the BOE personally...

my daily is bit more confused
anyway the thing is the same
6150 6210 if tomorrow, should at least give a pullback... i hope!

gosh what a move.
at this market time!!!
c'mon....

its all a scam.
fukk.

Buying G/U right now would be a VEERY good look IMO ....in @ 1.6132

and again moody's.
daaaaaaaaaaaaaaah
i go out for a beer.

Moody’s puts US on review for possible downgrade
this agency sh*t is the ugliest thing at all. and they spill it out at the most illiquid time, causing sh*t volatility. fading the move.

no i dont do .
i leave.

yes damn moodys
damn movers
some one was in need to breake the 6120 line.
thats all.
this is not trading.
this is a scam by someone.
i go.
see you all tomorrow.