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Cable Update (GBPUSD)

  • #430,801
  • May 13, 2016 5:45am May 13, 2016 5:45am
Imho a long position seems a retracement trade atm. HTFs indicate further southward sentiment.
Do your homework, follow the footprints of smart money
  • #430,802
  • May 13, 2016 7:30am May 13, 2016 7:30am
Hi All finding out something about trade is getting funny like we are prepared to fail from the start by what the broker is giving to us as charting tool
A serious trader most never trade with is broker charting tool
I presently changed that and I have seen improvement in my trading
  • #430,803
  • May 13, 2016 7:37am May 13, 2016 7:37am
So thats what we been waiting for? ...

Was trying to trade it long all morning glad I Was out when it dropped. Caught a little short ...
  • #430,804
  • May 13, 2016 7:41am May 13, 2016 7:41am
impressive sales figures for the US, especially after not so good employment figures
Don't Leave Money on the Table
  • #430,805
  • May 13, 2016 9:00am May 13, 2016 9:00am
Quoting iran_trader
time to sell gbp....... current price:1.4433 first target: 1.430000000000
close 70 pip+...
joine me mql5.........
  • #430,806
  • May 13, 2016 9:21am May 13, 2016 9:21am
Quoting HaLBot
impressive sales figures for the US, especially after not so good employment figures
The average hourly earnings of the employment figure was positive, which helps explain the increase in retail sales
  • #430,807
  • May 13, 2016 9:30am May 13, 2016 9:30am
Quoting ez0770
{quote} The average hourly earnings of the employment figure was positive, which helps explain the increase in retail sales
Cheers
Don't Leave Money on the Table
  • #430,808
  • May 13, 2016 9:31am May 13, 2016 9:31am
Quoting iran_trader
{quote} close 70 pip+...
GBP is goinn more down !!!
  • #430,809
  • May 13, 2016 9:56am May 13, 2016 9:56am
Quoting iran_trader
{quote} close 70 pip+...
but yesterday said buy it for 100 pips up , hhhhhhhhhhhh
  • #430,810
  • May 13, 2016 10:01am May 13, 2016 10:01am
Quoting velit
{quote} but yesterday said buy it for 100 pips up , hhhhhhhhhhhh
the GBP futures instrument moved 100 up...yesterday....
"Holy Grail" exists - accepting where is the first step.
  • #430,811
  • May 13, 2016 10:04am May 13, 2016 10:04am
Quoting Dr.Zain
{quote} GBP is goinn more down !!!
joine me mql5.........
  • #430,812
  • May 13, 2016 10:05am May 13, 2016 10:05am
Quoting velit
{quote} but yesterday said buy it for 100 pips up , hhhhhhhhhhhh
market dosnt move with your decision....we work at a variable market. a variable market need a variable decision To matching with it and earning profit....
Quoting VaBikePacker
{quote} the GBP futures instrument moved 100 up...yesterday....
joine me mql5.........
  • #430,813
  • May 13, 2016 10:29am May 13, 2016 10:29am
Still not a lot of upside for these EU currencies
TE started 6/4/19
  • #430,814
  • May 13, 2016 11:07am May 13, 2016 11:07am
Todays GbpUsd Break to downside was not expected but can be seen on charts. If we compare to that of PA in april, you can observe in the screenshot what it did before and what it did today. It was a bad choice for me to jump in on long so early. Would not make this mistake again.
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Believe in your thesis and stick to the plan, don't get scared with moves
  • #430,815
  • May 13, 2016 12:13pm May 13, 2016 12:13pm
I opened a short position after it broke below 1.4400, but I am pondering whether I should close it now before the market closes or wait for the pair to reach 1.4300.
  • #430,816
  • May 13, 2016 12:22pm May 13, 2016 12:22pm
Quoting james1254
I opened a short position after it broke below 1.4400, but I am pondering whether I should close it now before the market closes or wait for the pair to reach 1.4300.
Think of taking profit before 1.43 as there are rough tackles below. Check your 4-hour chart, for example.

KP
Do your homework, follow the footprints of smart money
  • #430,817
  • May 13, 2016 1:14pm May 13, 2016 1:14pm
Quoting james1254
I opened a short position after it broke below 1.4400, but I am pondering whether I should close it now before the market closes or wait for the pair to reach 1.4300.
I don't think 1.43 is unrealistic in any way. I'm not saying that price will not push beyond that but it's not a bad target area for TP, or at least partial TP. Personally I don't see many "rough tackles" between here and there.

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Indentify > Plan > Accept > Execute
  • #430,818
  • May 13, 2016 2:14pm May 13, 2016 2:14pm
Quoting arasheed
{quote} I am GMT +5 I noticed your post late I am still missing your comments.
http://www.forexfactory.com/showthre...79#post8906079 last couple of post on 4 hour doji now so it might not hot 4300 ?? tp time and look to go long if,, if it holds this pattern
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4 hour chart long possible
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or we carry on down
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interesting that 4 hour chart and the day support to the left are in the same place, as the doji
  • #430,819
  • Edited 3:32pm May 13, 2016 2:17pm | Edited 3:32pm
get back to 4400 is possible . 4189 would be a short target, just have to see here in this area the direction for next week
  • #430,820
  • May 14, 2016 4:00am May 14, 2016 4:00am
Quoting elbert3
get back to 4400 is possible . 4189 would be a short target, just have to see here in this area the direction for next week
Agreed. .4189 would be the 61.8 Fib retrace of the last LL to the recent HH. A retrace of between 61.8 and 78.6 would be ideal in my opinion. The lower TL which connects the last 2 prominent Lows runs through that area as well so seems like a logical target.

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Indentify > Plan > Accept > Execute
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