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Cable Update (GBPUSD)

  • #422,881
  • Feb 1, 2016 4:09am Feb 1, 2016 4:09am
Quoting SulikFXer
{quote} worked as suspected
  • #422,882
  • Feb 1, 2016 4:11am Feb 1, 2016 4:11am
Quoting elbert3
{quote} i think spike for the bears 4332
Didn't quite reach 4332, but anyhow price action is bearish, UK data is out seems market want to push cable down

Quoting Darkforce
{quote} Didn't quite reach 4332, but anyhow price action is bearish, UK data is out seems market want to push cable down {image}
At this stage I don't rule out that this big M15 canclle is a bluffing because its close is not a LL and maybe a test and rejection from 1.4250
Attached Image (click to enlarge)
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  • #422,883
  • Feb 1, 2016 4:47am Feb 1, 2016 4:47am
Quoting Darkforce
{quote} Didn't quite reach 4332, but anyhow price action is bearish, UK data is out seems market want to push cable down {quote} At this stage I don't rule out that this big M15 canclle is a bluffing because its close is not a LL and maybe a test and rejection from 1.4250 {image}
Cable is a nasty bi*ch.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDFXFM15.png Size: 41 KB
  • #422,884
  • Feb 1, 2016 5:36am Feb 1, 2016 5:36am
Quoting Darkforce
{quote} Cable is a nasty bi*ch. {image}
your lokkin very kind towards Cable!!
  • #422,885
  • Feb 1, 2016 5:51am Feb 1, 2016 5:51am
Quoting Dr.Zain
{quote} your lokkin very kind towards Cable!!
By calling her crazy bi*ch?

Lol

Tell something nastier about her then.
  • #422,886
  • Feb 1, 2016 6:14am Feb 1, 2016 6:14am
Hi there. I am learning how to use Fibonacci. Can someone confirm if I have picked swing high and low correctly and whether Fib retracements appear to be correct as per attached?
Attached Image (click to enlarge)
Click to Enlarge Name: image.png Size: 100 KB
  • #422,887
  • Feb 1, 2016 6:36am Feb 1, 2016 6:36am
143 500 or there abouts would be cool to close second pound dollar trade.
Keeping euro trade going as a long position.
  • #422,888
  • Feb 1, 2016 7:08am Feb 1, 2016 7:08am
A quick question before the data is released and 'Monday Markets' comes back into action.

Does anyone here use/rely on the Money Flow Index? I've found that it can either be scarily accurate, or awfully inaccurate - there doesn't seem to be any middle ground. It does seem to pick out divergences/action that RSI doesn't, but I wonder how useful it can be if only a fraction of traders use it.

Answers on a post card, if you have a spare moment!

Cheers.
  • #422,889
  • Feb 1, 2016 7:09am Feb 1, 2016 7:09am
Quoting alz
Hi there. I am learning how to use Fibonacci. Can someone confirm if I have picked swing high and low correctly and whether Fib retracements appear to be correct as per attached? {image}
You can draw a fib from 1.4943 as well, the confluence of these two fib provide a stronger level to look at.

That been side, fib is just a reference too, watch PA.
  • #422,890
  • Feb 1, 2016 7:15am Feb 1, 2016 7:15am
Bearish divergence on the H1 chart, anyone?
  • #422,891
  • Feb 1, 2016 7:17am Feb 1, 2016 7:17am
Quoting Luzbay
Bearish divergence on the H1 chart, anyone?
No shorts for cable ATM, wait for US open and wait for whether the TL broken on Friday got re-broken.

The short term momentum is bullish now.
  • #422,892
  • Feb 1, 2016 7:17am Feb 1, 2016 7:17am
Quoting Luzbay
A quick question before the data is released and 'Monday Markets' comes back into action. Does anyone here use/rely on the Money Flow Index? I've found that it can either be scarily accurate, or awfully inaccurate - there doesn't seem to be any middle ground. It does seem to pick out divergences/action that RSI doesn't, but I wonder how useful it can be if only a fraction of traders use it. Answers on a post card, if you have a spare moment! Cheers.
Yes MFI is a great way to trade, its just like most things Traders usually find their own unique way of working with it.
Would not trade without it for sure.

Would be surprised these days esp with the smaller and larger timeframe algos if RSI is as well used as it used to be.

But that said sure there are traders out there who trade RSI daily - so its a queston of your overall system really not just one element.

One part does not make the whole if that makes sense but its an important cog in the system.

Btw COT is a great guide too.

Todays trade for example 40 pips GBUSD and GBUSD 75 pips second trade and an open trade on the Euro at 63 pips.

est 180 pips for the day.

Thats what i mean with an overall system.
  • #422,893
  • Feb 1, 2016 7:26am Feb 1, 2016 7:26am
Quoting dean1star
{quote} Yes MFI is a great way to trade, its just like most things Traders usually find their own unique way of working with it. Would not trade without it for sure. Would be surprised these days esp with the smaller and larger timeframe algos if RSI is as well used as it used to be. But that said sure there are traders out there who trade RSI daily - so its a queston of your overall system really not just one element. One part does not make the whole if that makes sense but its an important cog in the system. Btw COT is a great guide too. Todays...
Thanks for taking the time to reply - I appreciate it! It sounds like you've got your system down, or at least it's working perfectly in today's conditions! Keep it up
  • #422,894
  • Feb 1, 2016 7:31am Feb 1, 2016 7:31am
Quoting Luzbay
{quote} Thanks for taking the time to reply - I appreciate it! It sounds like you've got your system down, or at least it's working perfectly in today's conditions! Keep it up
BTW Elliot wave is a also a great tool if you learn the basics. Delic is a great trader on the theory.
  • #422,895
  • Feb 1, 2016 7:55am Feb 1, 2016 7:55am
looking 4280 for a reload
  • #422,896
  • Feb 1, 2016 8:14am Feb 1, 2016 8:14am
Thank you - much appreciated

Quoting Darkforce
{quote} You can draw a fib from 1.4943 as well, the confluence of these two fib provide a stronger level to look at. That been side, fib is just a reference too, watch PA.
  • #422,897
  • Feb 1, 2016 8:44am Feb 1, 2016 8:44am
I have a long position open with target 1.4350 but I'm waiting for a breakout above 1.4400 to open more.
  • #422,898
  • Feb 1, 2016 8:55am Feb 1, 2016 8:55am
eu is going well just nail gb then great
  • #422,899
  • Feb 1, 2016 8:56am Feb 1, 2016 8:56am
Pound Dollar closed at 143 150
Open at 142 200

Pound Dollar closed at 142 600
Open at 142 200

Euro closed at 109 000
Open at 108 200

Total Pips for the day 215

all trades closed awaiting next set up.
  • #422,900
  • Feb 1, 2016 8:58am Feb 1, 2016 8:58am
Quoting elbert3
eu is going well just nail gb then great
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