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Cable Update (GBPUSD)

  • #421,921
  • Jan 4, 2016 2:21am Jan 4, 2016 2:21am
Good signal , waiting for confirmation, need 1-2 candle above moving average
Attached Image
#Trade what you see and not what your think
  • #421,922
  • Jan 4, 2016 2:31am Jan 4, 2016 2:31am
  •  Zinot
  • | Joined Dec 2015 | Status: VUIP - Very UnImportant Person | 138 Posts
Do not forget PMI in an hour... could be messy this time...
Insanity: doing the same over and over again & expecting different results!
  • #421,923
  • Jan 4, 2016 2:46am Jan 4, 2016 2:46am
Quoting Zinot
Do not forget PMI in an hour... could be messy this time...
relaks and take it easy.
#Trade what you see and not what your think
  • #421,924
  • Jan 4, 2016 3:12am Jan 4, 2016 3:12am
Quoting Desrisusanti
thank moving average. i love it. {image}
What is the moving average? Thanks in advance.
  • #421,925
  • Jan 4, 2016 3:37am Jan 4, 2016 3:37am
Quoting IRISH37
{quote} What is the moving average? Thanks in advance.
all moving average is good for me
#Trade what you see and not what your think
  • #421,926
  • Edited 4:20am Jan 4, 2016 3:47am | Edited 4:20am
http://www.forexfactory.com/attachme...5&d=1451864717




now reisistance
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSD_H1.gif Size: 172 KB
Click to Enlarge Name: GBPUSD_H44.gif Size: 206 KB
  • #421,927
  • Jan 4, 2016 5:38am Jan 4, 2016 5:38am
short GBP/USD
Attached Image
#Trade what you see and not what your think
  • #421,928
  • Jan 4, 2016 6:02am Jan 4, 2016 6:02am
  •  Zinot
  • | Joined Dec 2015 | Status: VUIP - Very UnImportant Person | 138 Posts
short @ 1.47684
Insanity: doing the same over and over again & expecting different results!
  • #421,929
  • Jan 4, 2016 6:23am Jan 4, 2016 6:23am
Happy new year guys!
Anything is math!
  • #421,930
  • Jan 4, 2016 6:26am Jan 4, 2016 6:26am
why do you forget to mention the stop and the target levels????
comment these short/long are meaningless without stop level at least!
Anything is math!
  • #421,931
  • Jan 4, 2016 6:40am Jan 4, 2016 6:40am
Quoting Kajos2250
why do you forget to mention the stop and the target levels???? comment these short/long are meaningless without stop level at least!
Blind leading the blind my friend
A 1 pip gain is better than a 1 pip loss.
  • #421,932
  • Jan 4, 2016 6:48am Jan 4, 2016 6:48am
Quoting Kajos2250
why do you forget to mention the stop and the target levels???? comment these short/long are meaningless without stop level at least!
Absolutely, a trading idea without objectives and initial risk is worthless. Sadly, most posts therefore are useless.

Quoting Kajos2250
Happy new year guys!
Thanks, same to you!
Fix up, trade sharp ...
  • #421,933
  • Edited 7:23am Jan 4, 2016 7:02am | Edited 7:23am
I had a small long hit profit overnight and, until I have studied the price a little more and caught up with news, I think I'm fairly neutral on this pair (I pretty much only trade GBPUSD).

On a daily chart, it appears to be hugely oversold, without any divergence patterns to suggest that it will bounce any time soon.
On a four hour chart, the volume appears to be supportive of a short bull rally.
On a one hour chart, the bull rally appears to have already happened, so perhaps we are waiting for the retrace (I'll keep my eye on 1.47313) before heading north again.

In short, I'm out of the game until 1.47313-ish is reached. At which point I'll reassess, but on current news/technical analysis, I'll look to go long at this point unless anything changes significantly in the interim.

EDIT - having just checked my charts, there is also a buy opportunity (in my opinion) if price closes above 1.47874, for 45 pips. Stop loss would be 1.47518.
  • #421,934
  • Jan 4, 2016 7:05am Jan 4, 2016 7:05am
I just sold cable at 1.475, where would you set TP if you want to hold this trade for a few days? Unless of course it blows my close SL
  • #421,935
  • Jan 4, 2016 7:29am Jan 4, 2016 7:29am
  •  Zinot
  • | Joined Dec 2015 | Status: VUIP - Very UnImportant Person | 138 Posts
Quoting Kajos2250
why do you forget to mention the stop and the target levels???? comment these short/long are meaningless without stop level at least!
and all the following...

sry for missing out on posting my initial SL which is @ 1.48198
Insanity: doing the same over and over again & expecting different results!
  • #421,936
  • Jan 4, 2016 7:33am Jan 4, 2016 7:33am
Quoting pawb1200
I just sold cable at 1.475, where would you set TP if you want to hold this trade for a few days? Unless of course it blows my close SL
It depends on your lot size, account balance and risk appetite (1%-2% of your account, for example).

Without knowing the above, we could just shout out numbers that might be entirely unrealistic/fall outside of your risk appetite. I, personally, wouldn't be short right now, but if I was, I'd go with a SL of 1.47917.
  • #421,937
  • Jan 4, 2016 7:53am Jan 4, 2016 7:53am
Quoting pawb1200
I just sold cable at 1.475, where would you set TP if you want to hold this trade for a few days? Unless of course it blows my close SL
You can target the lows around 1.471/2 for a bounce. Even if it breaks and goes lower, you have already taken your profit and are safe.
A 1 pip gain is better than a 1 pip loss.
  • #421,938
  • Jan 4, 2016 7:55am Jan 4, 2016 7:55am
Quoting pawb1200
I just sold cable at 1.475, where would you set TP if you want to hold this trade for a few days? Unless of course it blows my close SL
Sorry I misread your original post; I thought you were asking for a SL rather than TP!

I'd go 1.472xx.
  • #421,939
  • Jan 4, 2016 8:08am Jan 4, 2016 8:08am
Done...
Attached Image
#Trade what you see and not what your think
  • #421,940
  • Jan 4, 2016 8:14am Jan 4, 2016 8:14am
I know about risk management, I set SL and position size so that I wouldn't risk more than 3% of the deposit, but TP is always hard form me to feel because I just always want to close transaction whenever I'm getting some profit and I know it's bad

Thanks guys for answering! I put the TP at 1.472 but I'm seriously considering building a pyramid and catching some bigger move. At worse I'm break even now
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