Time to go back down now, I think.
Cable Update (GBPUSD)
- #410,761
- Mar 3, 2015 9:32am Mar 3, 2015 9:32am
- Joined Nov 2007 | Status: Trader | 1,984 Posts
Time to go back down now, I think.
- #410,762
- Mar 3, 2015 10:33am Mar 3, 2015 10:33am
- Joined Sep 2013 | Status: boreddddd | 3,137 Posts
- #410,763
- Mar 3, 2015 3:38pm Mar 3, 2015 3:38pm
- Joined Nov 2007 | Status: Trader | 1,984 Posts
{quote} Way down I hope
But damn, I'm tired of about talking this move! Just make the move already, MF'er! 11 years of doing this and I'm still astonished at how long the market can drag out a move. It's so annoying sometimes, but then again, the dragging out of the move itself leaves clues as to how big the move will be, so I guess I shouldn't complain.
With that said, looking less and less likely that 1.5250 will be a long term bottom. 1.5050 area (1.5020 I really have my eye on) needs to be tested before we can go up for a looooong ride! A bottom around 1.5050 and we are heading back to 1.9000 (yes, 1.9000) in about 18-24 months. Getting to 1.7000 should be relatively fast (before the end of the year). That alone could easily multiply a small account by 30 with adding size to the winner (granted risk will be high in the beginning). But this is the beauty of starting out small, you can afford to take bigger risks and you have all the margin you need.
Adding to winners and letting it run is how BIG money is made. But it is hard, because you need the foresight to spot a large move coming. You will need confidence in yourself that you are right and you need to let the market take its time. You need patience. You need balls to add size to a move, BUT you can't get reckless or the whole thing can turn into a disaster. And finally, you need to always be on the lookout for signs that you are wrong! Having confidence in your forecast is great, but if big sellers appear and your long, you need to be quick to get out and re-evaluate. I'm not talking about weak pullbacks.
{quote} You'll get your target easily, I think. But damn, I'm tired of about talking this move! Just make the move already, MF'er! 11 years of doing this and I'm still astonished at how long the market can drag out a move. It's so annoying sometimes, but then again, the dragging out of the move itself leaves clues as to how big the move will be, so I guess I shouldn't complain. With that said, looking less and less likely that 1.5250 will be a long term bottom. 1.5050 area (1.5020 I really have my eye on) needs to be tested before we can go up for...
nice post Zappa. well said., and yes it takes forever it seems sometimes..
- #410,767
- Mar 3, 2015 5:57pm Mar 3, 2015 5:57pm
- Joined May 2014 | Status: My Ideas Are Just That -- Ideas | 4,473 Posts
{quote} You'll get your target easily, I think. But damn, I'm tired of about talking this move! Just make the move already, MF'er! 11 years of doing this and I'm still astonished at how long the market can drag out a move. It's so annoying sometimes, but then again, the dragging out of the move itself leaves clues as to how big the move will be, so I guess I shouldn't complain. With that said, looking less and less likely that 1.5250 will be a long term bottom. 1.5050 area (1.5020 I really have my eye on) needs to be tested before we can go up for...
But I tend to agree with you from a fundamental standpoint ... . BOE is poised to tighten, probably more so than the Fed (which now appears overly cautious). 1.7, in the scheme of things, wasn't all that long ago ... . Then again, I recall reading a forecast either last month or December for 1.38 (of course, before all the Carney rhetoric in recent weeks about raising rates, which was soon followed by a 0-0-9 vote to raise). A confusing fundamental picture that is starting to get under my skin ... .
One way or another, the charts will resolve in a fashion I'm more comfortable trading ... .
Fireworks are fun ... as long as you don't blow your fingers off.
- #410,768
- Mar 3, 2015 6:13pm Mar 3, 2015 6:13pm
- Joined May 2011 | Status: Get to the Chopper | 17,905 Posts
Come with me if you want to live....
- #410,769
- Mar 3, 2015 6:16pm Mar 3, 2015 6:16pm
- Joined Nov 2007 | Status: Trader | 1,984 Posts
{quote}
ZebraSquirel, don't feel bad. Fundamentals are ALWAYS confusing to me!
- #410,772
- Mar 3, 2015 9:50pm Mar 3, 2015 9:50pm
- Joined Mar 2008 | Status: Name real with real own way | 23,413 Posts
Not understand?better not follow my analyses!doubt clearer first, risks ++
- #410,773
- Mar 3, 2015 10:12pm Mar 3, 2015 10:12pm
I think it'll stay steady until the GBP services pmi @ 4:30 am... My guess, based on the 1d chart, is that it'll drop to ~1.52. Clearly that's a wild guess, though.
To maximize your gains you must minimize your losses
- #410,777
- Mar 3, 2015 11:02pm Mar 3, 2015 11:02pm
- Joined May 2011 | Status: Get to the Chopper | 17,905 Posts
C'mon baby, I know you can do it this time 
Come with me if you want to live....
- #410,779
- Mar 3, 2015 11:44pm Mar 3, 2015 11:44pm
- Joined Dec 2013 | Status: Trader | 19,815 Posts
- #410,780
- Mar 3, 2015 11:47pm Mar 3, 2015 11:47pm
- Joined Dec 2013 | Status: Trader | 19,815 Posts
{image} morning try long again but this now feels like counter trading,, need a good catalyst to move this up , all tc below the day are looking bear for now it needs to break the trend line to the top to keep momentum 5360 was support , fail here then i think i am going short
