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Cable Update (GBPUSD)

  • #420,521
  • Edited 10:14am Oct 15, 2015 9:49am | Edited 10:14am
Quoting alexx90
Oh it seems a double bottom on m1 chart, maybe, probably, there is a chance...it will go up...Alex, what do you think? {image} I don't know, I don't trade based on probabilities, I don't predict the future, price went up and I followed it. {image}
watch 5460 now see if thats it,, or we carry on, , short if it goes 5386 next 76% cables new fib number 5600 or 5380 ??
Attached Image (click to enlarge)
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  • #420,522
  • Oct 15, 2015 10:59am Oct 15, 2015 10:59am
Quoting elbert3
{quote} watch 5460 now see if thats it,, or we carry on, , short if it goes 5386 next 76% cables new fib number 5600 or 5380 ??{image}
What up B?! Don't mind the tl....
Attached Image (click to enlarge)
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The world you desire can be won. It exists.. it is real.. it is possible..
  • #420,523
  • Oct 15, 2015 11:25am Oct 15, 2015 11:25am
1.5522
  • #420,524
  • Oct 15, 2015 11:43am Oct 15, 2015 11:43am
Quoting navk
5480/85 is 100 DMA. Should hold for retracement down now. 135 pips more than usual ADR so, I expect a choppy day, thursday
Choppy day. Time and again I have seen, after a big move, the next day will be choppy. Now the key level is 1.5515/20.
Intraday only.
  • #420,525
  • Oct 15, 2015 12:04pm Oct 15, 2015 12:04pm
Need some help guys what to do...yesterday news absolutely killed me, got short at 1.53075 but price went up, totally in opposite direction. This order is still open, what would you recommend for recovery? Gone through todays drop (could close at around 1.5345 to reduce loss, but did not) but price recovered again.

Any drop expected tomorrow to exit and feel less pain, or to wait next week and see how price will move on? Would not like if price continues beyond 1.5600, but it could easily...

Thanks!
  • #420,526
  • Oct 15, 2015 12:15pm Oct 15, 2015 12:15pm
Quoting navk
{quote} Choppy day. Time and again I have seen, after a big move, the next day will be choppy. Now the key level is 1.5515/20.
I agree with you, Such a choppy day, let's see how is the pair will act tomorrow.
  • #420,527
  • Oct 15, 2015 12:22pm Oct 15, 2015 12:22pm
Gamble trading. Guys we know nothing about this market. We are gambling.
  • #420,528
  • Oct 15, 2015 12:27pm Oct 15, 2015 12:27pm
Quoting Trader88q
Gamble trading. Guys we know nothing about this market. We are gambling.
we do not know where the price moves.
Have a kind of technical indicators to tell you atleast the direction of move.
Do not trust any one or any levels. The price can break support or resistance. The price at times respect those levels.

So, trade in the direction of what your technical indicators say.

TP should be based on risk appetite.

Do not be greedy.
Entry shall be at the beginning of a trend. If you try to re enter after you close one profitable trade in one trend, the success in second trade is not guranteed.
Intraday only.
  • #420,529
  • Oct 15, 2015 1:21pm Oct 15, 2015 1:21pm
Quoting IbrahIm2009
{quote} I agree with you, Such a choppy day, let's see how is the pair will act tomorrow.
The key to trade any day is daily open line. Every day a daily candle is formed.

When it really starts forming ? London session. NY can be choppy or it can continue with London trend.

Any candle below open line is bearish candle, any daily candle above daily open is bullish candle.

see the chart, daily open line and MA's.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM5.png Size: 77 KB
Intraday only.
  • #420,530
  • Oct 15, 2015 1:25pm Oct 15, 2015 1:25pm
Quoting IbrahIm2009
{quote} I agree with you, Such a choppy day, let's see how is the pair will act tomorrow.
The key to trade any day is daily open line. Every day a daily candle is formed.

When it really starts forming ? London session. NY can be choppy or it can continue with London trend.

Any candle below open line is bearish candle, any daily candle above daily open is bullish candle.

see the chart, daily open line and MA's.

see eur usd chart also for another example.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM5.png Size: 69 KB
Intraday only.
  • #420,531
  • Oct 15, 2015 1:29pm Oct 15, 2015 1:29pm
Another question. Some one asked here thro PM.

Do I trade retracement ?

Retracement means, long trade when the price is below daily open.

At times, I do. But not advisable.

All days are not going to be like today it happened in in GU.

Yesterday was a trendy day in GU, 250 pips move. Any one wanted to trade retracement would have burnt their fingers in GU yesterday.
Intraday only.
  • #420,532
  • Oct 15, 2015 3:04pm Oct 15, 2015 3:04pm
Hi Zain,

see the daily chart posted.

Yesterday the price tested 100DMA. ( BLUE LINE ).

It is normal to retrace after such huge daily candle.

The next day ( today ) the price retraced 23 %.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDDaily.png Size: 50 KB
Intraday only.
  • #420,533
  • Oct 15, 2015 4:01pm Oct 15, 2015 4:01pm
Quoting Mares
Need some help guys what to do...yesterday news absolutely killed me, got short at 1.53075 but price went up, totally in opposite direction. This order is still open, what would you recommend for recovery? Gone through todays drop (could close at around 1.5345 to reduce loss, but did not) but price recovered again. Any drop expected tomorrow to exit and feel less pain, or to wait next week and see how price will move on? Would not like if price continues beyond 1.5600, but it could easily... Thanks!
Hi, I think it's going to 1.5620 before coming back down. Today's drop was only a correction- price recovered and established a new high. This is my view and I was wrong before, it's your decision. From what you saying it looks like you're using to high leverage/to big position size, if you don't use stop loss and want to wait for price to come back allow yourself at least £200 per 0.01 lot and a lot of patience. Good luck
  • #420,534
  • Oct 15, 2015 4:03pm Oct 15, 2015 4:03pm
what is going on on GBP ?? so big volatility these time... sessions closed..
  • #420,535
  • Oct 15, 2015 4:04pm Oct 15, 2015 4:04pm
WOW that was fun, hope nobody got stung with that...
I bet those guys are up to there old tricks again with fake huge orders????
Same gbp/jpy
CELL BLOCK FOREX
And we're back in the room again...
Deutsche bank libor?
FREEDOM IS SECURITY.
  • #420,536
  • Oct 15, 2015 4:15pm Oct 15, 2015 4:15pm
I'm just wondering, there is only 1 news coming for GBP on Friday, how would that shoot the pair up to 1.55xx unless USD is down??
  • #420,537
  • Oct 15, 2015 4:16pm Oct 15, 2015 4:16pm
you'd have to say why you think that

Quoting Trader88q
{quote} yes u are absolutlly rigth. thats why about starting from may it has no direction. its like huge sideways chanell 900 pips range. cause not up no down direction. but i think the time will come and that huge chanell will be broken. i more think that it will go down again to 4250 even to 4000 next year.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #420,538
  • Oct 15, 2015 4:17pm Oct 15, 2015 4:17pm
Is that a common occurrence?
What would cause that?
  • #420,539
  • Oct 15, 2015 4:24pm Oct 15, 2015 4:24pm
Quoting hippiedog
WOW that was fun, hope nobody got stung with that... I bet those guys are up to there old tricks again with fake huge orders???? Same gbp/jpy CELL BLOCK FOREX And we're back in the room again... Deutsche bank libor?
Yes GBPJPY did the same, but if you look at the upward trend, it almost follow same as USD

Perhaps too much open buys, and too much profit on the line.
  • #420,540
  • Oct 15, 2015 4:25pm Oct 15, 2015 4:25pm
Bloomberg has nothing to say... But deutsche bank libor individuals under investigation so perhaps they were just demonstrating how it was done to the US justice department
FREEDOM IS SECURITY.
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