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Cable Update (GBPUSD)

I´m very courious about today close. Today is very messy day without solid direction. Only some tricky moves.
Quoting abrund
I´m very courious about today close. Today is very messy day without solid direction. Only some tricky moves.


There is no news out but lot's of behind the scene action and meetings going on......there will be news either later today (probably not) but over the weekend for sure.....this will jolt the market big time - read up a few posts to see ovaforty's view........as an add on......the Euro markets did finish up nicely today.......

Cheers,

Faller
I don't trust any move - when you have profit...take it.
shake and bake and jump around like a Mexican jumping bean.....nervous nervous nervous out there....
I don't trust any move - when you have profit...take it.
Updated chart from previous one that I posted showing the stopping volume bar.......there was a second (small) stop volume bar at 11:15am that I took note of as well......these two bars are what kept me out of the trade during this session.....and as we look to the right from the stop volume bars we can see what price action did.........as you can see from my posts.....I achieved more then my daily goal today so there is no need to try and get tugged around on this Friday.....go into the weekend feeling good and gear up for Sunday night and next week.

Hope everyone is getting something out of my posts and my charts with notes. Comments are welcome.

Faller.
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I don't trust any move - when you have profit...take it.
Gold broke support...
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Possible entry point....holding 200 ema on 5 min and holding 50 ema on 15 min......still watching.
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I don't trust any move - when you have profit...take it.
weekly chart for gold. sitting on support
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I see several failed attempts to break hourly resistance (around 1.5466). Now we are sitting on a channel. I will look for SHORT if it breaks through 1.5417 (my hourly support). After that retest of 1.5329 and if it breaks too we will probably see 1.5296 (not now though). Other scenario will involve this channel breaks through 1.5500 and 1.5580 for LONG position.
Quoting Faller

I entered at 1.5324 on the futures with 3 contracts. I am posting a chart with notes as to why I entered this position. I will follow this up throughout the night as price action warrants. Currently plus 20 pips.....going to let this one run....looking for at least a 100 pip retace and depending on price action this may be a long term hold up to 1.57 - 1.60 area. Please post comments or questions.


Faller.
Well I am very happy with the outcome of this posted trade - Although there was not much to trade during today's session I am pleased the the price held up above my 100 pip target. I will not be holding any positions over the weekend due to all the news they may come out. However, I do look for this pair to climb it's way back up to my posted targets of 1.57 - 1.60. Any comments are welcome.
I don't trust any move - when you have profit...take it.
Taking a late Friday trade - not my usual. Price holding 200 ema on 5 min and pushing the 20 ema on the 15 min chart. I like this channel for a pop to the upside. Target before end of day today is the daily high.....stop loss will be tight.....but will take trade off before daily high if not reached by end of trading session.
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I don't trust any move - when you have profit...take it.
Quoting Faller
Taking a late Friday trade - not my usual. Price holding 200 ema on 5 min and pushing the 20 ema on the 15 min chart. I like this channel for a pop to the upside. Target before end of day today is the daily high.....stop loss will be tight.....but will take trade off before daily high if not reached by end of trading session.

Giving up the 200 ema and 50 ema.....dollar index popping.....closing position -15 pips. That's why I don't trade late on Friday.....oh well....take it on the chin.......good afternoon everyone.

Faller.
I don't trust any move - when you have profit...take it.
Quoting Faller
Giving up the 200 ema and 50 ema.....dollar index popping.....closing position -15 pips. That's why I don't trade late on Friday.....oh well....take it on the chin.......good afternoon everyone.

Faller.

Hi Faller..... i have long position with -200 +

can u advice me on this,,,, very tensed....
Quoting adiboss
Hi Faller..... i have long position with -200 +

can u advice me on this,,,, very tensed....

Not sure how I can best advise.....

If you want to share your entry point - your price - I can look at the chart and try to assesses things for you. But that is something you should have done before you entered the trade. When you say 200ish....is that 200 or 275 or maybe 299 minus pips?

If you don't won't to share exact details.....I can tell you that I am trading the pound to the long side. 100 pip plus up last night from entry. And I just took a loss on that last trade - but I did re enter based on price action and gained my loss back plus - I can post my trading platform to show results. Sorry that is getting off topic.

You have to know what your stop loss is that is number one important. Is it a percentage of your account - is it just a dollar value that you are willing to lose etc. We all have a pain factor. I have always found it easier to cut a loss off when it is not so large as it is easier to recoup small losses then holding on to one big snowball too long.

I will post my daily futures chart and maybe this will give you some insight. It is nothing special just....just shows a falling wedge pattern with a nice daily bar for today, however, stochastics are still buried below 20 and macd is moving down and seperating further so this could just be a little retrace for the day only to continue down or could be the start of a move up. This is why I posted that I will not be holding over the weekend, although I am biased to the up side. The world banks will not things collapse and we will probably see a nice rally in the markets next week......risk on....therefore pound up.

This is a long post....hope I answered some things for you....but I can't tell you what to do.....you have to manage your own money.

Here is the chart....you will note that there was nice volume on today's bar which is a bullish signal.....
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I don't trust any move - when you have profit...take it.
Here is the chart of my re-entry after I closed for a loss....with updated trading platform numbers.

And as we can see we did get that pop to daily highs....I was just a little early on my entry. Should have waited for the stochastics to confirm.
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I don't trust any move - when you have profit...take it.
Quoting Faller
Not sure how I can best advise.....

If you want to share your entry point - your price - I can look at the chart and try to assesses things for you. But that is something you should have done before you entered the trade. When you say 200ish....is that 200 or 275 or maybe 299 minus pips?

If you don't won't to share exact details.....I can tell you that I am trading the pound to the long side. 100 pip plus up last night from entry. And I just took a loss on that last trade - but I did re enter based on price action and gained my loss back plus...


Thankyou for the reply...it did answered most of my questions....and now saw a rally up breaking the high...so i am a bit relieved,... my long is at 1.5715 and i trade on markets trader 2 platform....

thanks once again and i will try to follow u as ur chart pattern was easy to digest....

have a good weekend...
Quoting adiboss
Thankyou for the reply...it did answered most of my questions....and now saw a rally up breaking the high...so i am a bit relieved,... my long is at 1.5715 and i trade on markets trader 2 platform....

thanks once again and i will try to follow u as ur chart pattern was easy to digest....

have a good weekend...

Cheers.....I am looking for 1.57 as my first up move target.....

Hope you can have a good weekend.

Faller
I don't trust any move - when you have profit...take it.
Quoting Faller
Cheers.....I am looking for 1.57 as my first up move target.....

Hope you can have a good weekend.

Faller
i hope u reach ur target....which would also help me regain my lost pips...

will trade carefully with stop loss next time....

thanks....and good weekend to u as well...
Morning , as I have no interest in bear this pair but every efforts fail as I wanted it up & indicating more & more down only . some gross changes in the mode as if the correction up going to end ! lets see , 1.4967 seriously indicating for the next bounce .
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
GBP/USD – Bias (W1): Bearish; Bias (D1): Bearish; Bias (Overall): Bearish

http://lcchong.files.wordpress.com/2...ng?w=837&h=379

http://lcchong.files.wordpress.com/2...ng?w=837&h=380
Shot through the level I was watching at 120 but a nicely formed inner bar right here
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