Cable Update (GBPUSD)

that was then.. we are now on a different price level, i think we will see something like that, only opposite...

now i'm waiting either a failure and short opportunity at about 5295 or breakout retest of the 5220.. no rush here..

Bored to be honest.

Hope all is well Albchr, off to a movie, have a great rest if the week brother Could see some more crazy cable moves before week is out, 5160-80 area is important in my book.

Just update , same as before only reviews .

limit 5630 , far away so far to continue down most probable 4222 next target , so do more correct or simply die better .

eu is most interesting so far while gu & gold tanked halfway or so it stays standstill so far & breakdown any great level like them & so waiting it happen . now situation in eu that it to go either 4021 or 2121 approximately , now in a HS pattern to stop that upwards continuation so immediately . while if hs active at any time ,3289 ok if able presently , less likely also due a hammer candle daily tf , the move down can be 1000 pips below 2767 & so can goes to below target next !! .most care here 2762/7.

co-ordinated or one by one explosion , no problem carry out the market but next turmoils /bear continuation the economy should cry in all aspects /panic clonic convulsion . my analysis indicate that direction , last leg down to UP though big all .
lets see .

GU
for Short time 1.5265 / 88 must be touched to see pair 1.5215/20 and then 1.5147
So best Sell entry is above 1.5255 S/L=1.5305

Yes a few bears were surprised then.

Just trade your own way, opinions of others are nothing special and can just be distracting, particularly since
Cable has been tricky lately.

Failed to break 1.52 and saw a bounce back.. we are going higher for the time being.

looks like GBP/USd down down down ....





http://forextechnicals.wordpress.com/

hmmm oke switching from here sell hahah

As i have suggested up Trend for touching High level for finding momentum to go down it's near Sell Area(Area not Level)

Hopefully will not breakout at 1.5280, if thus maybe will beyond 1.53 or more.

On the topside a close back again above 1.5375 on 4HR will take it to 1.5585 which is the 50% retracement level from the top in Dec to low we saw last month.

Ok short at 5270 will add extra at 5320 no stop no limit yet may hold these for the long term (only small entries)

That is really perfect entry for short, but if will continue uptrend.. well hopefully not though!

To make sure for going above 1.5320, we have to wait for US News
But if it goes above 1.5320, That's not real trend and it runs by some inexperienced traders and be bounce back towards down levels as my friend said RSI shows down trend as it's true and reliable.

AUDUSD may go down deep at 1.0134... hmmm other potential.

Themm... definitely aiming South America

@_@. U can try this.

Use buy sell stops instead and don't let fundamental affects your trading if you ain't confident of picking a trade within a range before it moves north or south. No point praying, we can't be god to nurse/decide every trade to become a winner. Only having taking smaller losses and bigger winner is the only viable way to survive and thrive in this arena.

If you already analyze that above 1.5280 it will go there, then why not join the ride and be in green then be in red.

[ One would have been in green and probably BE / partial by now, if choose to take a buy stop above former intra-day hi's. ]

Same for taking the burst from Asia's HI. Vice Versa the range's @ 1.5217 higher lo then previous day's low @ 1.5214, which is demand trading from daily chart by taking trade from shadow's area. Below Previous's day daily low, breakout is likely as support is no longer valid.

If not hedge in positive and cut the wrong one or further uses buy sell stops to increase profits in green over red.

If a trader picks a trade within a range -> he can buy lo, sell hi. B L where there's no lower lo, but higher lo. Sell hi when there's no higher hi but lower hi. then only a range's or probability of trading the bounce/rejection is stronger. One can cut his losses earlier after the range's end or when the daily hi is further breached, the first retracement for testing resistance turns support, he cut asap, and exit a lower probability trade.

Any trade attempts to sell a higher hi, can only hope for a false break and turns into a H N S formation or V U-TURN, mostly due to fundamental changes etc.

It's never smart to buy a lower lo as well, as obviously its a downtrend unless the trend has been exhausted through trend line minimum



Without stop loss or cutting, one can implement hedging, -> buy stops after live sell, sell stop after live buy.

If a support is truly broken, sell stop can be there to prevent escalating losses and minimize damage, 2 trade - > 1 winner of 100+ pips or reached exhaustion one can take profit of the green one, and let the red one retrace slightly and cut out with a profit balance overall.

Trader trading the breakout, can use buying after daily hi or selling after daily lo, as daily's range are meant to widen . Just like Asia's Low and Asia's Hi meant to breached.

May this pic help those to understand how price are moved in a market- > There's dealing + trading. Every sessions differs.

Trading without stop losses is just trying to play god- or aka gambler. Even with low leverage its pointless, as it become investing and not trading. Martingale will only make things worst as well.

new intra high 1.5292, let it sustain a bit

Wish my stops were not quite so tight yesterday in hindsight.