Bad Uk data and market reacts to the downsisde...how strong are the bulls now ? fibs of moves up to 6179 from 5992, 6003 and 6034 not shown on 4hr chart below.
G/L
G/L
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Cable Update (GBPUSD)
- #333,641
- Jan 11, 2013 3:48am Jan 11, 2013 3:48am
- Joined Jul 2007 | Status: Trader | 5,392 Posts
ex member
- #333,642
- Jan 11, 2013 3:48am Jan 11, 2013 3:48am
- Joined May 2011 | Status: Get to the Chopper | 17,905 Posts
Curently short from breakdown @ 38.
Targeting 6115 1st tp, then on to test 61.
Anyone think this is start of correction of yesterday? Or is this just knee jerk reaction to manufacturing figures for GBP?
Closed out my 6163 for 30, got 1x6145 at BE and 1x6145 sl at 6168.
also targetting 6115.
I think can go to 6107.
Come with me if you want to live....
- #333,643
- Jan 11, 2013 3:51am Jan 11, 2013 3:51am
- Joined May 2011 | Status: Get to the Chopper | 17,905 Posts
Come with me if you want to live....
- #333,644
- Jan 11, 2013 3:53am Jan 11, 2013 3:53am
- | Joined Feb 2012 | Status: Trader | 1,207 Posts
I personally think..today will present a reversal..yesterday move up was the retrace..it amazes me that i see things generally opposite to some folks
Morning Nav, happy new year mate.
Thats a good thing though Nav, want to avoid herd mentality. Need to think for ourselves. I personally think this will continue lower, but after yesterday I was left thinking I know nothing about the markets! All techs ignored and price just kept going... Luckily I caught some, but never seen anything like that.
Got a small stop on this position so will just let it go. I dont think my targets of 6115 then 6100 are unreasonable. But could easily break that aswell, down to next level I have @ 1.6082/3...
- #333,645
- Jan 11, 2013 3:55am Jan 11, 2013 3:55am
- Joined May 2011 | Status: Get to the Chopper | 17,905 Posts
2 closed, last one at BE with target removed just in case 
Come with me if you want to live....
- #333,646
- Jan 11, 2013 3:56am Jan 11, 2013 3:56am
- | Joined Feb 2012 | Status: Trader | 1,207 Posts
We are on the same page
Closed out my 6163 for 30, got 1x6145 at BE and 1x6145 sl at 6168.
also targetting 6115.
I think can go to 6107.
Good to know IBB.
You think we'll see more bulls today then? If you think shorterm as 1.6107 possible low, you thinking more upside from there?
- #333,649
- Jan 11, 2013 4:05am Jan 11, 2013 4:05am
- Joined Apr 2012 | Status: Trader | 1,054 Posts
When Scalpers win, I lose and Vice varsa... 
- #333,650
- Jan 11, 2013 4:06am Jan 11, 2013 4:06am
- Joined May 2011 | Status: Get to the Chopper | 17,905 Posts
Good to know IBB.
You think we'll see more bulls today then? If you think shorterm as 1.6107 possible low, you thinking more upside from there?
Daily still bullish to me but this market is mixed.
A big push up like yesterday against obvious daily bearish sentiment is going to bring a significant retrace, it basically needs to with market dynamics.
(you can't stop a raging pack of bears with just 1 bull - even if he's a big one
).So the possible depth of this retrace could very well look like bearish continuation even if it just a correction, or it maybe a continuation as nAV said.
Now I'm confused
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- #333,652
- Jan 11, 2013 4:13am Jan 11, 2013 4:13am
- Joined May 2011 | Status: Get to the Chopper | 17,905 Posts
Come with me if you want to live....
- #333,653
- Jan 11, 2013 4:14am Jan 11, 2013 4:14am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
- #333,654
- Jan 11, 2013 4:15am Jan 11, 2013 4:15am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
What a cheap ass stop hunt that was... Took out my earlier break even.
- #333,655
- Jan 11, 2013 4:15am Jan 11, 2013 4:15am
- Joined May 2011 | Status: Get to the Chopper | 17,905 Posts
What a cheap ass stop hunt that was... Took out my earlier break even.
This is pretty much precisely the reason I don't trade that pair,(or any other pair) it has happened to me too many times.But I probably just suck at it.
I find this pair much better
Come with me if you want to live....
- #333,656
- Jan 11, 2013 4:17am Jan 11, 2013 4:17am
- Joined May 2011 | Status: Get to the Chopper | 17,905 Posts
Movie time here, have a great weekend folks 
Come with me if you want to live....
- #333,657
- Jan 11, 2013 4:18am Jan 11, 2013 4:18am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
Morning all, man flu present ... beware
here your input on the market my friend would be great! ..do u think it has changed much?
I do consider u a teacher of forex
u have no idea how yur writing how influenced my trading growth - #333,658
- Jan 11, 2013 4:43am Jan 11, 2013 4:43am
- | Joined Feb 2012 | Status: Trader | 1,207 Posts
Movie time here, have a great weekend folks
Have a good weekend buddy
- #333,659
- Jan 11, 2013 4:43am Jan 11, 2013 4:43am
Seems like the bullish flag is in playA close above 1.6200 - 1.6230 will confirm bullish continuation. Will be looking for an entry long tomorrow if we get one. Looking at 1.6100 - 1.6110 for a possible entry
Will share my chart later
GL :nerd:
I was waiting to enter lower put PA is hesitant to my anticipation. Will hold until 1.6230 to see what happens. Hope everyone is having a good one. 
Numbers NEVER Lie
- #333,660
- Jan 11, 2013 4:45am Jan 11, 2013 4:45am
- | Joined Feb 2012 | Status: Trader | 1,207 Posts
problem is if u ask me..people have become better traders..and this is a real problem because when something works by a few and then many see..the big guns cant make money..the idea is to steal yur money..so we come to a point where price needs to do the opposite but keeps true formations..because every1 is on it..
its a real problem
Up to you to become EVEN better
Market dynamics and trading as a whole is constantly evolving. Just have to evolve with it