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Cable Update (GBPUSD)

  • #429,501
  • Apr 26, 2016 5:08am Apr 26, 2016 5:08am
Quoting Don96
{quote} ​swing drawn isn't the clearest for me but 1.4572 may be good for some shorts perhaps/1.4618x
+25 or so now, partial close and let run
  • #429,502
  • Apr 26, 2016 5:10am Apr 26, 2016 5:10am
Dependent on what the FED does how do you guys expect the market to react?

For example if there is a rate hike do you expect the dollar to rally and therefore would look too short the cable?

What would you think if the dollar were to sell off on a rate hike?
  • #429,503
  • Apr 26, 2016 5:16am Apr 26, 2016 5:16am
Quoting redbaron1981
Dependent on what the FED does how do you guys expect the market to react? For example if there is a rate hike do you expect the dollar to rally and therefore would look top short the cable?
The market can be funny. Let's wait for it. In recent months, we have seen the market behaving contrary to fundamentals or even technicals on a number of times.

KP
Do your homework, follow the footprints of smart money
  • #429,504
  • Apr 26, 2016 5:20am Apr 26, 2016 5:20am
Waiting until post-Fed makes a lot of sense. Outcome is a coin flip now. Market will be here after FED so no point chasing. Davit brought up a very good point.
  • #429,505
  • Apr 26, 2016 5:41am Apr 26, 2016 5:41am
Quoting asgcorp
Waiting until post-Fed makes a lot of sense. Outcome is a coin flip now. Market will be here after FED so no point chasing. Davit brought up a very good point.
Coin flip too you maybe ..
Logical too others.
  • #429,506
  • Apr 26, 2016 5:49am Apr 26, 2016 5:49am
Quoting dean1star
{quote} Coin flip too you maybe .. Logical too others.
yeah yeah whatever on demo it's always logical give us an update when you start live trading
  • #429,507
  • Apr 26, 2016 6:00am Apr 26, 2016 6:00am
Quoting HaLBot
{quote} If you made 30 pips a day at $5.00 a pip(Aussie for me) by 250 trading days a year that's $37500.00(Aussie) , no complaints from me with that sort of return
.
  • #429,508
  • Apr 26, 2016 6:03am Apr 26, 2016 6:03am
Long Position shows at the last arrow - updated here alternate days on progress.
Once in a while, every so often your lucky to catch a trend such as this one.
See how at S3 it bounced off and headed north again.
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  • #429,509
  • Apr 26, 2016 6:22am Apr 26, 2016 6:22am
pound
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If skills could be acquired by watching, every dog would be a butcher. Turk
  • #429,510
  • Apr 26, 2016 7:46am Apr 26, 2016 7:46am
safe to say that not many traders anticipated GU > 4600 bullish gap was somewhat of an indication but now all bets are off. ))
Sisse figures we can hit 4800 post-Fomc. That could be an option.
  • #429,511
  • Apr 26, 2016 7:50am Apr 26, 2016 7:50am
taking a brave step

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  • #429,512
  • Apr 26, 2016 7:54am Apr 26, 2016 7:54am
Quoting Don96
{quote} .
Hey Don96 your kinda taking my post outa context but if your a day trader to make 30 pips a day is very doable but it definitely takes discipline, sticking to your trading plan and keeping level headed at all times
I'm no expert at this but I attempt to make at least 30 pips a session and when I see my set up I'm straight in and I find that helps heaps.
No doubt theres traders here who make a bucket load more pips than that in a session or over a couple of sessions
Don't Leave Money on the Table
  • #429,513
  • Apr 26, 2016 7:56am Apr 26, 2016 7:56am
maybe this..

Daily
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  • #429,514
  • Apr 26, 2016 7:57am Apr 26, 2016 7:57am
Quoting HaLBot
{quote} Hey Don96 your kinda taking my post outa context but if your a day trader to make 30 pips a day is very doable but it definitely takes discipline, sticking to your trading plan and keeping level headed at all times I'm no expert at this but I attempt to make at least 30 pips a session and when I see my set up I'm straight in and I find that helps heaps. No doubt theres traders here who make a bucket load more pips than that in a session or over a couple of sessions
so what happens when your trade goes 30 the other way? and your -30 for the day? your always chasing from there
  • #429,515
  • Apr 26, 2016 7:58am Apr 26, 2016 7:58am
Quoting Don96
{quote} ​swing drawn isn't the clearest for me but 1.4572 may be good for some shorts perhaps/1.4618x
  • #429,516
  • Apr 26, 2016 8:00am Apr 26, 2016 8:00am
Quoting Dr.Zain
{quote}
​did you get it?

doesn't look like itll hold, Obama nonsense and USD news all pro GBP... if stops are wide enough it may work
  • #429,517
  • Apr 26, 2016 8:03am Apr 26, 2016 8:03am
Quoting asgcorp
safe to say that not many traders anticipated GU > 4600 bullish gap was somewhat of an indication but now all bets are off. )) Sisse figures we can hit 4800 post-Fomc. That could be an option.
  • #429,518
  • Apr 26, 2016 8:05am Apr 26, 2016 8:05am
Quoting HaLBot
{quote} Hey Don96 your kinda taking my post outa context but if your a day trader to make 30 pips a day is very doable but it definitely takes discipline, sticking to your trading plan and keeping level headed at all times I'm no expert at this but I attempt to make at least 30 pips a session and when I see my set up I'm straight in and I find that helps heaps. No doubt theres traders here who make a bucket load more pips than that in a session or over a couple of sessions
30 pips aday - if you can is awesome - steady and reliable income ..
  • #429,519
  • Apr 26, 2016 8:10am Apr 26, 2016 8:10am
Quoting asgcorp
Waiting until post-Fed makes a lot of sense. Outcome is a coin flip now. Market will be here after FED so no point chasing. Davit brought up a very good point.
Thanks ASG for vouching.I've been there in my rookie years and got burned badly many times so know it on my skin.
In my view commodity pairs specially NU is most weakest.I think this one will get the hummer hardest.Might break 69 but wont go far up.
regards
In trading, you have to be defensive and aggressive at the same time
  • #429,520
  • Apr 26, 2016 8:13am Apr 26, 2016 8:13am
Quoting Don96
{quote} so what happens when your trade goes 30 the other way? and your -30 for the day? your always chasing from there
yes thats happened a lot in the past but my tradings getting better and generally I look for retraces to S/Rs and PP to eliminate the -30 pip happening, then I place a tight stop. Instead of a stop I'll hedge the trade sometimes but you can really get yourself into a lot of trouble hedging, it can ad multiple levels of decision making into a trade.....
If you do find yourself down 30 pips and you don't want to exit the trade you just got a bit of work ahead LOL
Don't Leave Money on the Table
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