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Cable Update (GBPUSD)

  • #427,601
  • Apr 7, 2016 7:11am Apr 7, 2016 7:11am
Quoting andoseg2
{quote} Update : Correction through time, chart patterns traders may identify a continuation pattern here, interesting zone with odds in favor of sellers, mabe they will refresh the fall : {image}
Update : stoped out with locked profit.

Looking to rejoin short if the price continue fall ( I am already sell with early orders and also covered) :
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Money moves the market, not an indicator.
  • #427,602
  • Apr 7, 2016 7:20am Apr 7, 2016 7:20am
upcoming news might trigger some action @ USDCHF keeping my eye on it
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persistence and determination alone are omnipotent
  • #427,603
  • Apr 7, 2016 7:37am Apr 7, 2016 7:37am
I'm not changing bias to long until it breaks 1.43212. For now still in a short trade with trade #11.

Closed in 159 pips with one trailing S/L of 85 pips. One S/L adjusting on the daily.
For now outlook stays the same.

Outlook Update GBP/USD | 7/04/2016

 

  1. Trend D (EMA 200) - DOWN
  2. Speed D (EMA 55 / EMA 21) - DOWN
  3. Momentum D (SMA 8/EMA 5) - DOWN
  4. Momentum H4 (SMA 8/EMA 5) - DOWN

  1. Bias D/H4 (EMA 55/21, High and Low) - SHORT
  2. Entry H4 (SMA 8/EMA 5, RSI) - SELL


Trade #11 Journal
http://www.forexfactory.com/showthre...98#post8855498

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What's that smell? ---- I smell money!
  • #427,604
  • Apr 7, 2016 7:43am Apr 7, 2016 7:43am
In fact, where are the next "pain" thresholds? Could be completely wrong, but this is what I see. Ain't "interpretation" a bitch, lol?
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  • #427,605
  • Apr 7, 2016 8:10am Apr 7, 2016 8:10am
Quoting dean1star
{quote} always the choice hey don - its like are they selling to go lower or selling the range to go higher .. bias seems lower but i position on these trades .. so lets see at the end of the day ..
Closed gJ out +37 and EU +3 - EU entry is too low for today's high and GJ countered a loss I had on UJ the other day, might get a chance to reenter, higher volume size perhaps, last one was less than half of my usual
  • #427,606
  • Apr 7, 2016 9:20am Apr 7, 2016 9:20am
North or South, that is the question! So poetic, don't you think?
  • #427,607
  • Apr 7, 2016 9:48am Apr 7, 2016 9:48am
would be if you added side then you'd be right 1 of 3 lol

Quoting nealpek
North or South, that is the question! So poetic, don't you think?
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #427,608
  • Apr 7, 2016 10:03am Apr 7, 2016 10:03am
its consolidation ,it can not be H&S the location is all wrong ,if it went a measured amount down it would be a box measurement


Quoting sanfranfan
{quote} Hello thank you for this great thread I am learning very much. I have a question in the post quoted above isn't that a head and shoulders pattern that has formed. I also have attached a screen shot of my 4 hour chart thinking it may be one. If this is fodder for this thread I apologize still learning price action and not always sure if the formations I see are actual or a trip back to my college days. Kind Regards {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #427,609
  • Apr 7, 2016 10:03am Apr 7, 2016 10:03am
GU somewhat messy right now, clean break above 4150 will expose upside targets @ 4300 and 4350. I'd say downside is fairly limited atm, therefore not covering downside scenario.
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  • #427,610
  • Apr 7, 2016 10:07am Apr 7, 2016 10:07am
its important you know what H&S is and what it means where it occurs


Quoting Bones
its consolidation ,it can not be H&S the location is all wrong ,if it went a measured amount down it would be a box measurement {quote}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #427,611
  • Apr 7, 2016 10:08am Apr 7, 2016 10:08am
not for the seasoned traders, but maybe some traders will find it useful. How do we determine if GU is bullish/bearish atm? See details on the chart.
above 50 of 2 candles - bullish. below - bearish.
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  • #427,612
  • Apr 7, 2016 10:09am Apr 7, 2016 10:09am
could b
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #427,613
  • Apr 7, 2016 10:15am Apr 7, 2016 10:15am
Pretty ugly "action" if you are caught up in this!!!
  • #427,614
  • Apr 7, 2016 10:23am Apr 7, 2016 10:23am
Quoting nealpek
Pretty ugly "action" if you are caught up in this!!!
yeah locked in range pretty much.
  • #427,615
  • Apr 7, 2016 10:28am Apr 7, 2016 10:28am
Sweeps all over the place now, take a guess which way first??? lol
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  • #427,616
  • Apr 7, 2016 10:29am Apr 7, 2016 10:29am
Good strategy. PA trading with a few indicators reinforced by confluences.

KP

Quoting Ll1979
{quote} I only use it in confluence with PA, pp and fibs for possible entries/exits on the bounce. Beside that i don 't use MA
Do your homework, follow the footprints of smart money
  • #427,617
  • Apr 7, 2016 10:41am Apr 7, 2016 10:41am
GU simple TL to gauge uptrend/downtrend atm
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  • #427,618
  • Apr 7, 2016 10:49am Apr 7, 2016 10:49am
What a fascinating "multidimensional hypervolume of resource axis partitioning"!! Don't you think?
  • #427,619
  • Apr 7, 2016 10:54am Apr 7, 2016 10:54am
Which TF?

Quoting asgcorp
GU simple TL to gauge uptrend/downtrend atm {image}
Do your homework, follow the footprints of smart money
  • #427,620
  • Apr 7, 2016 11:00am Apr 7, 2016 11:00am
Quoting Bones
could b {image}
Could be both ways depending on oil and FED ...
Fix up, trade sharp ...
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