Cable Update (GBPUSD)

Quoting JimmyC

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Like magic GU M5 {image} Trader sentiment {image}

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Quoting albchr

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{quote} Monthly IMHO is just screaming long. Of course NFP or any other number of things could change this but... as of now... screaming long. {image}

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Quoting nAVIN2007

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{quote} i think u need to zoom out a bit.. low of yesterday needs to go

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Quoting elbert3

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{quote} This was just something i noticed yesterday ?? i dont know if you can plan any,??? trades from it,,?? just something i will keep an eye on to see if there is a trending type to it??

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Quoting albchr

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{quote} .. Morning Jimmy

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Quoting JimmyC

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Like magic GU M5 {image} Trader sentiment {image}

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Quoting nAVIN2007

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{quote} that make sense but remember this time frame does not actually give an idea of how tough the area is for that u need to look at the monthly and the monthly is definitely a road block the problem is can this move below 1.6860?? if it does then it could be the top I still am not sure if this area is support or resistance

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Quoting JimmyC

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{quote} Orders are placed where the spikes are - so - trend up buy limit 6875 - SL 15 pips - limit 6895 - 20 pips The trick is to trade one trade at a time and to make sure you are compounding your account - this mean each trade makes and loses more money but the percentage is kept the same 2% down 3% up about 3 trades a day. Its a low pip but appropriate leverage/risk strategy, Execution must be mechanical because its a system it doesn't allow feeling or sentiment - It discounts big moves, that's ok just lose 2 and make 3 with an 85% accuracy....

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Quoting JimmyC

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{quote} Howzit Chris

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Quoting elbert3

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{quote} {image} looks like it is fanning out short ??? it broke the 68750,, is it telling us thats what it intends to do, a close candle below..then 805 ??

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Quoting Luther

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{quote} 6820 is Q1 high and 6660 is Q1 close. If you look at the lower time frame chart, your Monthly resistance at 6860 is the black circle. Q1 resistance at 6820 is the blue circle. I could see a bounce at 6860, but 6820 would be more a make or break imho. Also it is the base of the thrust candle, so larger orders are sitting below it from the last bull move up. If we get below 6880, a test of 6820 /6800 seems logical. {image}

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Quoting albchr

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{quote} Good brother and you? Just watching my favorite screen for scalping the dragon in this slow mo environment. Snagged a short 10 from her on that news spike. Waiting, watching now again. {image}

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Quoting JimmyC

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{quote} Good point, ok so I'm trading a 5min dustbin chart so how do you choose trend without getting fearful look at a 30 min chart Trend = up to go up first we must go down so... buy low sell high - limit order placed at the lower dustbin level and wait for profit Will it work.... sure most of the time and as with anything else a market surprise could bump it out... GU 30 - Trend direction {image}

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Quoting JimmyC

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{quote} UJ - She bit me on a 1H - rising wedge short yesterday - GJ is on my watch looking for the position long from 173 - 182 - Today or Monday to start the nibble

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Quoting jimmyc

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{quote} uj - she bit me on a 1h - rising wedge short yesterday - gj is on my watch looking for the position long from 173 - 182 - today or monday to start the nibble

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Quoting Ryan3645

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Today is the day I either will be King or have to introduce myself as an idiot, ohhhh dear :S. Lets hope these NFP Data is going to be positive , do you think it will be better than expected guys?

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