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Cable Update (GBPUSD)

  • #413,181
  • Apr 10, 2015 12:06am Apr 10, 2015 12:06am
Pivot test
  • #413,182
  • Apr 10, 2015 12:15am Apr 10, 2015 12:15am
Quoting andoseg2
Stopped out with Breakeven. {image} Stalking for re-enter : {image}
Sell triggered :

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Position covered as we are near strong support, this is a free trade (if the SL is hit, I lose 0$) with 0.5% risk in play from now, I can relax the aggresive risk management now .

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Money moves the market, not an indicator.
  • #413,183
  • Apr 10, 2015 12:24am Apr 10, 2015 12:24am
Onwards to bigger targets below. Any pullback to 1.4740-1.4780 should be considered a sell now. NU & AU drops today should support trading below yesterday's lows.
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  • #413,184
  • Apr 10, 2015 12:26am Apr 10, 2015 12:26am
Quoting sakisf
Onwards to bigger targets below. Any pullback to 1.4740-1.4780 should be considered a sell now. NU & AU drops today should support trading below yesterday's lows. {image}
What are those lines on your charts? Are those fibs or what?
  • #413,185
  • Apr 10, 2015 12:28am Apr 10, 2015 12:28am
looks like whole forum is on sell on gbp , i am bullish until it breaks below 1.4635 . that level is very crucial for bull to see minimum of 1.5350
  • #413,186
  • Apr 10, 2015 12:33am Apr 10, 2015 12:33am
Quoting big_pipin
{quote} What are those lines on your charts? Are those fibs or what?
Fibs but not percentages, just real fib numbers and some middle ones 13, 21, 34, 55, 72(89+55/2), 89, 116.5(144+89/2), 144 & so on. 0 & 1(00) are just reference numbers for low/high. I am just testing them to see how they fit on swings, to me they look more relevant than the % ones. Been using them for only a week though so needs more testing.

i.e.
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  • #413,187
  • Apr 10, 2015 12:51am Apr 10, 2015 12:51am
Quoting andoseg2
{quote} Sell triggered : {image} Position covered as we are near strong support, this is a free trade (if the SL is hit, I lose 0$) with 0.5% risk in play from now, I can relax the aggresive risk management now . {image}
Ok, SL @ breakeven, profits locked

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Money moves the market, not an indicator.
  • #413,188
  • Apr 10, 2015 1:45am Apr 10, 2015 1:45am
Long entered @ 1.465
  • #413,189
  • Apr 10, 2015 1:53am Apr 10, 2015 1:53am
Beautiful drop
  • #413,190
  • Apr 10, 2015 1:53am Apr 10, 2015 1:53am
Quoting sakisf
Onwards to bigger targets below. Any pullback to 1.4740-1.4780 should be considered a sell now. NU & AU drops today should support trading below yesterday's lows. {image}
And there we are now. 1.4633 was breached making a new low. A retrace today maybe due to Friday then on to the next target 1.4526-1.4483. I see buying is intensifying here (on the 1min & 5min). Lots of people are trying to catch the knife. Guaranteed suicide. Should be a million stops below 1.46 since FOMC.
  • #413,191
  • Apr 10, 2015 1:55am Apr 10, 2015 1:55am
Quoting andoseg2
Potential short for GBP , this could be a strong down move . There is silence on this zone, somebody soon could join the market and eat a lots of long traders . If the price rise above SL , setup canceled. {image}

It seem this is the move I was talking about . Let see how it will develop next days.

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Money moves the market, not an indicator.
  • #413,192
  • Apr 10, 2015 1:58am Apr 10, 2015 1:58am
weaker interesting data on the cable it does not look like the bull
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  • #413,193
  • Apr 10, 2015 1:59am Apr 10, 2015 1:59am
who is still long?

  • #413,194
  • Apr 10, 2015 2:18am Apr 10, 2015 2:18am
Quoting openyoureyes
who is still long?
will be again 4615 ish see how it goes
  • #413,195
  • Apr 10, 2015 2:21am Apr 10, 2015 2:21am
NIESR gdp estimate will break 1.46.
  • #413,196
  • Apr 10, 2015 2:58am Apr 10, 2015 2:58am
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  • #413,197
  • Apr 10, 2015 3:05am Apr 10, 2015 3:05am
Here's what I've learned from trading FX for a little while - whatever your instincts tell you to do, take the opposite side of that trade. You will at least get a clean entry - maybe not a trend, but at least a clean entry. We love to anthropomorphize the markets, and they "love" to fool us.
  • #413,198
  • Apr 10, 2015 3:22am Apr 10, 2015 3:22am
Quoting bartholemew
Here's what I've learned from trading FX for a little while - whatever your instincts tell you to do, take the opposite side of that trade. You will at least get a clean entry - maybe not a trend, but at least a clean entry. We love to anthropomorphize the markets, and they "love" to fool us.
Actually, I respectfully disagree. A few traders, myself included, actually tend to do better when we listen to our intuition/gut instincts. After years and thousands and thousands of hours watching the market as a daytrader, you tend to subconsciously pick certain signals up in the lower time frame charts before you can properly analyze it, since you have all those times of experience to help you make snap decisions, which is needed in a market where just 0.20 seconds could be the difference between massive profit and a margin call.

I think what you're referring to is the innate desire to "get back" at a market for not entering in on a profitable trade, making the wrong one, or just timing it incorrectly. That leads to hasty decision making, which messes up on our profit margins. You my be referring to something else, however.
  • #413,199
  • Apr 10, 2015 3:42am Apr 10, 2015 3:42am
Quoting bartholemew
Here's what I've learned from trading FX for a little while - whatever your instincts tell you to do, take the opposite side of that trade. You will at least get a clean entry - maybe not a trend, but at least a clean entry. We love to anthropomorphize the markets, and they "love" to fool us.
Not in my case.
You must have system of when to enter the trade, set target profit, set stop loss.
Instinct or feeling or whatever it is called is not stable in my opinion.
If you are emotionally overwhelmed because of whatever reason, it could affect your trading decision.
Knowledge of TA and Fundamental is essential.
Above all, MM is the most important imo.
Happy green pips.
  • #413,200
  • Apr 10, 2015 4:09am Apr 10, 2015 4:09am
Please, GBP go up, do not destroy traders account.
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