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Cable Update (GBPUSD)

  • #411,861
  • Mar 19, 2015 5:54am Mar 19, 2015 5:54am
Quoting Ill-b-back
{quote} You the man

90% of traders use TA, indicators and prediction
  • #411,862
  • Mar 19, 2015 5:58am Mar 19, 2015 5:58am
Quoting Alorente
{quote} I am mostly a technical trader. I dont give much importance to the news, one way or the other, even though I stay up to date with fundamentals. The chart signals an uptrend right now (In H4), so I only Buy. I try not to condition what the chart indicates with my opinion. It is better to follow what the chart is telling you at the moment. I do tend to be too early with my entries sometimes. Still working on that... Impatience...

Well , this is nice to hear, but what do u do if the news impact is so huge that it affects the technicals. For example, if the FED realize that the US economy is not growing as fast as they expected and thus postpone any rate hikes (personally I think a rate hike will not occur before year end) and based on this cable goes up and up, do u still stick with the monthly trend downwards accoding to the technicals or do u change your bias ?

Cheers,
  • #411,863
  • Mar 19, 2015 5:59am Mar 19, 2015 5:59am
DTCC options expiries on NY cut highest 1.4950 (717m)
if it is of help to anyone.
  • #411,864
  • Mar 19, 2015 6:06am Mar 19, 2015 6:06am
Quoting _BBKing_
{quote} have the same problem!! really! recently i managed in this way: 1. make my study 2. see an opportunity 3. wait for price to move lower (in case of buy) or higher (in case of sell). 4. meanwhile waiting... i don't even open charts. i just let it go. i know can sound crazy. but that's the only way i have! there are so many confusing things in a chart during one single day! but this is true since i prefer med-long term trades (at least 1 -2 weeks) not applicable for short term!
I like scalping, would be the end of the world hold an order for days. I do not think would fall asleep even though she was positive. Maybe you can still incorporate this spirit of long-term
  • #411,865
  • Mar 19, 2015 6:16am Mar 19, 2015 6:16am
15 min currently rejecting high timeframe (2009 low - 2014 high) 61.8 fib

Off to bed, night all




Attached Image (click to enlarge)
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Come with me if you want to live....
  • #411,866
  • Mar 19, 2015 6:21am Mar 19, 2015 6:21am
Quoting Ill-b-back
15 min currently rejecting high timeframe (2009 low - 2014 high) 61.8 fib Off to bed, night all {image}
looks like the bond is to blame less then thought ,,scalping off that resistance 488/7 is a watch area
  • #411,867
  • Mar 19, 2015 6:36am Mar 19, 2015 6:36am
Quoting Tradezilla
{quote} Well , this is nice to hear, but what do u do if the news impact is so huge that it affects the technicals. For example, if the FED realize that the US economy is not growing as fast as they expected and thus postpone any rate hikes (personally I think a rate hike will not occur before year end) and based on this cable goes up and up, do u still stick with the monthly trend downwards accoding to the technicals or do u change your bias ? Cheers,
Im sure you have noticed that the market in the end, rarely acts according to the factual news. Sometimes it even moves in an opposite direction to the news and you end up scratching your head...

I firmly believe there are inherent forces in the markets that move in waves or cycles. My job is to find these forces reflected in the charts and contrast them with similar or opposite forces in many other charts of different pairs and even different markets. Sometimes I end up with over a dozen different charts that point in the same direction and ultimately, price will inevitably move in that direction. Of course, after several fakeouts but in the end it will move in that direction no matter what the news says.

The most difficult task is not finding the direction but instead, getting yourself to truly believe that this is so. It took me a long time to achieve this and sometimes I still hesitate, but I cant remember the last time this system has failed me. When I lose, it is always because in one way or another I did not "listen" to what the system was telling me.
Observation is the path to discovery.
  • #411,868
  • Mar 19, 2015 7:07am Mar 19, 2015 7:07am
Attached Image (click to enlarge)
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bounce area but it is trying to get shorter , fail 200 green the the tl is possible or around 4850
  • #411,869
  • Mar 19, 2015 7:22am Mar 19, 2015 7:22am
Quoting elbert3
{image} bounce area but it is trying to get shorter , fail 200 green the the tl is possible or around 4850
Moving anticipating the news, anticipated my orders too.
  • #411,870
  • Mar 19, 2015 7:25am Mar 19, 2015 7:25am
Quoting hetfield
{quote} Moving anticipating the news, anticipated my orders too.
off 4850 wait now good scalp that 2 trades inside that move , 1 hour stil long ema based 4835 if good for a bounce , that 61%on the move
  • #411,871
  • Mar 19, 2015 7:35am Mar 19, 2015 7:35am
Quoting elbert3
{quote} off 4850 wait now good scalp that 2 trades inside that move , 1 hour stil long ema based 4835 if good for a bounce , that 61%on the move
pinched the last few lol long on the number now , sl and short on the break i had a gap there ??? might go long ??
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  • #411,872
  • Mar 19, 2015 7:37am Mar 19, 2015 7:37am
Quoting elbert3
{quote} pinched the last few lol long on the number now , sl and short on the break {image}
20 pips and fell out
  • #411,873
  • Mar 19, 2015 7:46am Mar 19, 2015 7:46am
This might be a good speculation. SL:BE
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do not forget to sleep
  • #411,874
  • Mar 19, 2015 7:47am Mar 19, 2015 7:47am
Quoting hetfield
{quote} 20 pips and fell out
you have to give it a while to make its mind up .
  • #411,875
  • Mar 19, 2015 7:47am Mar 19, 2015 7:47am
Going for the home run Short @1.4860, tp. @1.45, sl. @1.50
  • #411,876
  • Mar 19, 2015 7:55am Mar 19, 2015 7:55am
Quoting elbert3
{quote} you have to give it a while to make its mind up .
It's the old point of psychological internal fight, carry the order for a maximum of 20/30 pips. The news did not go as expected also prefer several small profits, watching the unfolding now
  • #411,877
  • Mar 19, 2015 8:09am Mar 19, 2015 8:09am
Quoting hetfield
{quote} It's the old point of psychological internal fight, carry the order for a maximum of 20/30 pips. The news did not go as expected also prefer several small profits, watching the unfolding now
time the news dont work, question why was that big move, 1 shit load of buyers and it dragged the buy limits with it creating a tsunami of orders and vise versa , depends who had the stronger buy or sell money, now it also depends what is left to clear up, after that wave,, , i like that post myself..lol inspired me..to 5000 , regards
  • #411,878
  • Mar 19, 2015 8:14am Mar 19, 2015 8:14am
Quoting sakisf
Going for the home run Short @1.4860, tp. @1.45, sl. @1.50
Good call but i guess you should watch out for the 1.484 support first....
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I'm high on trading, cant you tell?
  • #411,879
  • Mar 19, 2015 8:20am Mar 19, 2015 8:20am
still downtrend right?
  • #411,880
  • Mar 19, 2015 8:23am Mar 19, 2015 8:23am
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the power went in the house so cleared all the lines, so clean chart and there's the middle ground
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