Cable Update (GBPUSD)

Quoting PatienceFx

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{quote} {image} enjoy the ride guys this is what i call making a prophecy

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Quoting PatienceFx

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{quote} {image} enjoy the ride guys this is what i call making a prophecy

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Quoting Dalchow

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{quote} ?? still can't see a major drop ... since UK Open sideways ...

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Quoting Quickdraw

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The GBP Official Bank Rate is at 7:00am EST. My question is: For all you people currently in a trade, will you hold on to your trade through the GBP Bank Rate announcement? Or will you exit your trade right before the announcement? I'm currently in a sell at 1.4224 (I am in profit of 86 pips at the moment). My stop loss has been moved to break-even. Assuming it doesn't retrace to hit my break-even, I'm debating whether or not to exit my trade right before the Bank Rate announcement, or if I should just stay in the trade and go for the home run of...

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Quoting Davit

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{quote} just don't fall victim of your own prophecies.

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Quoting PatienceFx

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{quote} the prophecy was made 47 hours back, check your charts on what was the price back then and anyways there is nothing in news to justify a cable pop, if you can find one do share.

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Quoting Quickdraw

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{quote} Well, I decided to go ahead and stay in the trade during the Bank Rate announcement instead of exiting before the announcement. No, the trade didn't turn out to be a home run like I was hoping it would be. I eventually exited the trade on the crossing of the 4 hr 3 ema (4 hr candle closing past the 3 ema). I ended up with +57 pips. Had I exited the trade right before the Bank Rate announcement then I would've made 96 pips. Oh well, I missed out on an extra 39 pips by not exiting before the announcement... but it was worth the chance of a...

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Quoting asgcorp

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{quote} good point Davit )))

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Quoting Davit

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{quote} I don't think you understood nuance of what I was trying to convey to you. One can get carried away of his own Ego proclamations and slam face down by the market hard in fact so hard it will take years to recover. Because you were correct predicted the move does not mean you will be again and again.Market is king.Your attitude should be "I don't know the future but will ride the wave" That's a shift in attitude where most pro traders reside.Most traders here at FF do talk about Price Action but only handful understand what that is. I kind...

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Quoting PatienceFx

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{quote} i go purely with 20 ma, its my stop loss ; h1 / h4 thats where my prophecy comes from, not random reads, so yes i am a pure technical trader. i get out real fast if h1 20 ma gets tickled too many times talking price action [ london open h4 pin bar ] was enough to tell what is going to happen

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Quoting PatienceFx

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{quote} i go purely with 20 ma, its my stop loss ; h1 / h4 thats where my prophecy comes from, not random reads, so yes i am a pure technical trader. i get out real fast if h1 20 ma gets tickled too many times talking price action [ london open h4 pin bar ] was enough to tell what is going to happen

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Quoting nealpek

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For the first time in I don't know how many years, I put a 20 MA on my chart(yuck!!!). Patience reacted to this by exiting his position.. He may be right or wrong, but my other "indicators" are not blinking like his, at least not yet. I don't know what you see, but this is my view. Doesn't yet look all that alarming. That's why I don't use them. They can provide some benefit, but there are a bunch of indicators on the chart itself, even without volume, that are more reliable... {image}

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Quoting asgcorp

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{quote} the rate announcement has not been a major mover for ages now, the rate stays the same for like 7 years.

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