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Cable Update (GBPUSD)

  • #427,841
  • Apr 11, 2016 8:12am Apr 11, 2016 8:12am
trademb: VOLUME!
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  • #427,842
  • Apr 11, 2016 8:12am Apr 11, 2016 8:12am
Just a new trader around here. My idea for cable is much connected to Brexit , trade balances will be influenced hardly by a brexit ... if Super Mario keep pushing forward will make the UK and unhappy because they are taking hits every time there is a QE ... Only my idea ...
  • #427,843
  • Apr 11, 2016 8:22am Apr 11, 2016 8:22am
Quoting kingE
Just a new trader around here. My idea for cable is much connected to Brexit , trade balances will be influenced hardly by a brexit ... if Super Mario keep pushing forward will make the UK and unhappy because they are taking hits every time there is a QE ... Only my idea ...
Okay. Sorry new trader and learning. I will add the volume indicatotor and read up on it.

Does these volume bars work for the M15 timescale which is what i'm using.
  • #427,844
  • Edited 8:49am Apr 11, 2016 8:25am | Edited 8:49am
the deal is you don't need to know anything about news ,and actually lots complaints news often does not = result to price
such a conspiracy ,so many conspiracy
fact is you don't know how to read the news ,or what the focus is on now or future event ,same as me ,you can't just look at current highlighted things ,
mostly retail you haven't the resources or knowledge
all you need to know is price is very much bullish at this stage ,even sell off its likely to rise to resistance on daily tf
its not time for reversal this candle ,in all proberbility
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #427,845
  • Apr 11, 2016 8:25am Apr 11, 2016 8:25am
All of these candles have a corresponding increase in volume proportional to the volume before it. But it is at the key areas of "breakout" that it usually validates the move!
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  • #427,846
  • Apr 11, 2016 8:30am Apr 11, 2016 8:30am
volume is good, but delta is negative building up also, RSI H4 overbought, the move is overextended atm, tempted to short this mofo, but no confirm as of yet.
  • #427,847
  • Apr 11, 2016 8:34am Apr 11, 2016 8:34am
Bones: absolutely correct! I don't care what the news is, good or bad, makes no difference. I am only interested because it shows me where on the chart traders will get stuck with bad positions, and I trade counter to the masses. The sheep and the wolf.....
  • #427,848
  • Apr 11, 2016 8:35am Apr 11, 2016 8:35am
can't really say it's counter, since counter is pretty much short atm, retail is net long GU.
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  • #427,849
  • Apr 11, 2016 8:41am Apr 11, 2016 8:41am
Counter to the pile trading at the top of the move, when entering a high probability reversal area! Eventually enough retail will trade higher up in the move, cuz they feel they are "missing out". They will get "stuck" and market starts new rotation. If retail is net long, who usually winds up losing? Retail or Wholesale( "the money")...
  • #427,850
  • Apr 11, 2016 8:52am Apr 11, 2016 8:52am
Even if the move isn't finished, couldn't think of entering long at this point. Volume is picking up... more activity, could equal more amateurs entering at wrong time!!
PA and volume will confirm, for me anyways! Why take a guess? The market always shows its hand. If i have to be patient for a while and not trade, so be it. I won't miss out on anything, plenty of pips to be had
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  • #427,851
  • Apr 11, 2016 8:52am Apr 11, 2016 8:52am
Quoting nixdem
s/o from short entered @ 4234 It go higher now up to next resistance @ 4380
so glad I didn't enter short trade again
  • #427,852
  • Apr 11, 2016 8:59am Apr 11, 2016 8:59am
really dangerous to enter long here
gotta see if next 1H candle can close above 4280
  • #427,853
  • Apr 11, 2016 9:02am Apr 11, 2016 9:02am
Neal so what's the vol telling us now? Are we about to get exhausted yet? I mean we definately will test resistance now @ 4310 but then we get flushed my take atm.
What's your take on that one?
  • #427,854
  • Apr 11, 2016 9:02am Apr 11, 2016 9:02am
Quoting nixdem
really dangerous to enter long here gotta see if next 1H candle can close above 4280
you got that right
Approaching the retest
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Come with me if you want to live....
  • #427,855
  • Apr 11, 2016 9:02am Apr 11, 2016 9:02am
Hi,

Does anyone know of a site that shows stats by currency pairs for ranging v trending on daily timeframe over the past year or two??
  • #427,856
  • Apr 11, 2016 9:04am Apr 11, 2016 9:04am
Quoting Bones
the deal is you don't need to know anything about news ,and actually lots complaints news often does not = result to price such a conspiracy ,so many conspiracy fact is you don't know how to read the news ,or what the focus is on now or future event ,same as me ,you can't just look at current highlighted things , mostly retail you haven't the resources or knowledge all you need to know is price is very much bullish at this stage ,even sell off its likely to rise to resistance on daily tf its not time for reversal this candle ,in all proberbility...
It won't reverse even bad fed news , today maximum up target is 1.4380 based on daily trading range , is it correct ?
  • #427,857
  • Apr 11, 2016 9:04am Apr 11, 2016 9:04am
for instance I see that vol is thinning out as we reach out for the resistance @ 4300-4310, is that the kind of signal you would look for to get in short atm/soon?
  • #427,858
  • Apr 11, 2016 9:05am Apr 11, 2016 9:05am
Best advice I can give. NEVER try to pick a top or bottom. Wait for price to enter an "interesting" zone or area, and wait. See what price does and how the area forms. I'm never in at the tippy top or bottom of any move. Wait for the reaction, and "see where price gets stuck or stalls. This area its in right now interests me. The only way I can determine what to do is to wait and see what happens in this area. Wait for signs of correction or reversal, then trade. So you didn't catch the top 15-20 pips of the next leg, who cares! As long as you grab the bulk, you're happy!! jmo...
  • #427,859
  • Apr 11, 2016 9:06am Apr 11, 2016 9:06am
Quoting sharpshoot
{quote} It won't reverse even bad fed news , today maximum up target is 1.4380 based on daily trading range , is it correct ?
ADR is 150 points, therefore day range is out @ 4250 already, we are going over the ADR.
  • #427,860
  • Apr 11, 2016 9:09am Apr 11, 2016 9:09am
Quoting nealpek
Best advice I can give. NEVER try to pick a top or bottom. Wait for price to enter an "interesting" zone or area, and wait. See what price does and how the area forms. I'm never in at the tippy top or bottom of any move. Wait for the reaction, and "see where price gets stuck or stalls. This area its in right now interests me. The only way I can determine what to do is to wait and see what happens in this area. Wait for signs of correction or reversal, then trade. So you didn't catch the top 15-20 pips of the next leg, who cares! As long as you grab...
yeah ok I got it we are close to that area, the deal is how do you read the vol, what's the best setup, volume fade out once we hit resistance?

all the other techs point that we are getting into overbought territory, ADR extended, RSI very high reading also.
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