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Cable Update (GBPUSD)

  • #428,341
  • Apr 14, 2016 9:09am Apr 14, 2016 9:09am
Quoting PatienceFx
{quote} {image} enjoy the ride guys this is what i call making a prophecy
just don't fall victim of your own prophecies.
In trading, you have to be defensive and aggressive at the same time
  • #428,342
  • Apr 14, 2016 9:09am Apr 14, 2016 9:09am
Quoting PatienceFx
{quote} {image} enjoy the ride guys this is what i call making a prophecy
?? still can't see a major drop ... since UK Open sideways ...
  • #428,343
  • Apr 14, 2016 9:13am Apr 14, 2016 9:13am
If "tumby" says its gonna fall, you can bet your "cows" on it, lol...
  • #428,344
  • Apr 14, 2016 9:27am Apr 14, 2016 9:27am
Quoting Dalchow
{quote} ?? still can't see a major drop ... since UK Open sideways ...
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.
  • #428,345
  • Apr 14, 2016 9:39am Apr 14, 2016 9:39am
Do you guys think it worth getting out on shorts now (in profit) or let them run to my target?


Im in UK. What tends to happen after 3:00GMT? Things slow down right
  • #428,346
  • Apr 14, 2016 9:45am Apr 14, 2016 9:45am
Quoting Quickdraw
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...
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 home run had the announcement went in my favor.
"Trading is a mental sport." - Ziad Masri
  • #428,347
  • Apr 14, 2016 9:48am Apr 14, 2016 9:48am
Quoting Davit
{quote} just don't fall victim of your own prophecies.
good point Davit )))
  • #428,348
  • Apr 14, 2016 9:54am Apr 14, 2016 9:54am
3 attacks to h1 20 ma, not good, booking profits here
  • #428,349
  • Apr 14, 2016 9:55am Apr 14, 2016 9:55am
Quoting PatienceFx
{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.
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 of feel weird that you actually got subscribers.Can only imagine their levels.
In trading, you have to be defensive and aggressive at the same time
  • #428,350
  • Apr 14, 2016 9:56am Apr 14, 2016 9:56am
Quoting Quickdraw
{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...
the rate announcement has not been a major mover for ages now, the rate stays the same for like 7 years.
  • #428,351
  • Apr 14, 2016 9:59am Apr 14, 2016 9:59am
breakout on the short anyone?
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  • #428,352
  • Apr 14, 2016 10:00am Apr 14, 2016 10:00am
Quoting asgcorp
{quote} good point Davit )))
Usually takes a punch in the face by the market to wake up from stupor
In trading, you have to be defensive and aggressive at the same time
  • #428,353
  • Apr 14, 2016 10:01am Apr 14, 2016 10:01am
spinning top on the M30
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  • #428,354
  • Apr 14, 2016 10:04am Apr 14, 2016 10:04am
Quoting Davit
{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...
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
  • #428,355
  • Apr 14, 2016 10:06am Apr 14, 2016 10:06am
Quoting PatienceFx
{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

you using SMA or EMA for the 20?

Cheers
  • #428,356
  • Apr 14, 2016 10:15am Apr 14, 2016 10:15am
Quoting PatienceFx
{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
trading with 20 SMA is the simplest, yet easiest technique with almost 85% win rate

every kiss of 20 ma is a new trade

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  • #428,357
  • Apr 14, 2016 10:16am Apr 14, 2016 10:16am
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...
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  • #428,358
  • Apr 14, 2016 10:21am Apr 14, 2016 10:21am
Quoting nealpek
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}
its just that i hate the current h4 tails
  • #428,359
  • Apr 14, 2016 10:24am Apr 14, 2016 10:24am
I know the candle isnt finished, but this is telling me that it was neutral with the doji/spinning top but now the bulls and more eager.
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  • #428,360
  • Apr 14, 2016 10:27am Apr 14, 2016 10:27am
Quoting asgcorp
{quote} the rate announcement has not been a major mover for ages now, the rate stays the same for like 7 years.
I need to keep that in mind for the next time there is a rate announcement. I may had been wishing too hard that it would be a big bank rate number in my favor. But I suppose it is better to go with the most likely scenario than a wish. lol.
"Trading is a mental sport." - Ziad Masri
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