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Cable Update (GBPUSD)

  • #431,621
  • Edited 4:47am May 31, 2016 4:31am | Edited 4:47am
For any push higher I have short term resistance at 4635 to 4640, it's a convergence of the 20 and 50emas on the hourly chart, and I see price got rejected from the 5ema on the hourly, I need to keep an eye on that....

It's also the close of yesterdays daily candle..

http://thinkforex.ctrader.com/images/screens/5YKbn.png
Don't Leave Money on the Table
  • #431,622
  • May 31, 2016 4:55am May 31, 2016 4:55am
The pair dropped sharply today and it's currently testing the support at 1.4570. I think that if it breaks below that level it will reach 1.4520 - 1.4500.
  • #431,623
  • May 31, 2016 5:29am May 31, 2016 5:29am
Closed trades at 4634 for combined total of 50 pips, might come back later have to go do shopping......blehhhh

all in all after being wrong on just about everything, happy with how it actually went, just got to not give in, be determined to make those pips..
Don't Leave Money on the Table
  • #431,624
  • May 31, 2016 6:02am May 31, 2016 6:02am
Quoting HaLBot
Closed trades at 4634 for combined total of 50 pips, might come back later have to go do shopping......blehhhh all in all after being wrong on just about everything, happy with how it actually went, just got to not give in, be determined to make those pips..
good one but i am just coming in, so let see what you left for us lol

we are in the buy zone now looking at 4641 entry with 15pips sl
  • #431,625
  • May 31, 2016 6:29am May 31, 2016 6:29am
Quoting pipmilk
I dont get the Bulls here..when price went up just to retest 1.47 you guys immediately woke up and started dramatizing..blah blah oh God I just entered long etc.... relax. Forex is very technical! it only made triple retesting...you are forgeting that there are not serious fundamentals that would lift GU upwards more...only silly expections
we all have our way of looking at the market. my rules might say bull and another might say bear but it all about making PIPs
  • #431,626
  • May 31, 2016 6:35am May 31, 2016 6:35am
Quoting adetola99
{quote} we all have our way of looking at the market. my rules might say bull and another might say bear but it all about making PIPs
from my personal view why short when a currency is bad I move to another currency that is good and still buys.
it makes life easy for me to make pips
  • #431,627
  • May 31, 2016 6:41am May 31, 2016 6:41am
Quoting adetola99
{quote} from my personal view why short when a currency is bad I move to another currency that is good and still buys. it makes life easy for me to make pips
Good point. Trade your system. Lol
Do your homework, follow the footprints of smart money
  • #431,628
  • May 31, 2016 6:51am May 31, 2016 6:51am
presently managing a trade with 10pips SL
  • #431,629
  • May 31, 2016 6:53am May 31, 2016 6:53am
Quoting pipmilk
I dont get the Bulls here..when price went up just to retest 1.47 you guys immediately woke up and started dramatizing..blah blah oh God I just entered long etc.... relax. Forex is very technical! it only made triple retesting...you are forgeting that there are not serious fundamentals that would lift GU upwards more...only silly expections
I always allow for the fact the market might drop even when rising but for me I find it difficult to short a pair, I've tried to be both Bull and Bear but have found it difficult to do so. Right now with my skill level I'll go long and maybe it's just something you develop over time to be both. Occasionally I do go short....

One thing that I don't understand is traders who will go long or short 100s of pips away from where price is now, Just say cable will go to 1.4800 that trader will say I'll short it when it gets there.....what about the 200 pips in the meantime, why not make some money on the way there?
Don't Leave Money on the Table
  • #431,630
  • May 31, 2016 7:05am May 31, 2016 7:05am
Quoting HaLBot
{quote} I always allow for the fact the market might drop even when rising but for me I find it difficult to short a pair, I've tried to be both Bull and Bear but have found it difficult to do so. Right now with my skill level I'll go long and maybe it's just something you develop over time to be both. Occasionally I do go short.... One thing that I don't understand is traders who will go long or short 100s of pips away from where price is now, Just say cable will go to 1.4800 that trader will say I'll short it when it gets there.....what about...
you just hit the nail on the head
  • #431,631
  • May 31, 2016 7:11am May 31, 2016 7:11am
Quoting adetola99
presently managing a trade with 10pips SL
7pips sl and still holding
  • #431,632
  • May 31, 2016 7:15am May 31, 2016 7:15am
Quoting HaLBot
{quote} I always allow for the fact the market might drop even when rising but for me I find it difficult to short a pair, I've tried to be both Bull and Bear but have found it difficult to do so. Right now with my skill level I'll go long and maybe it's just something you develop over time to be both...
Dude, if you have signals that tell you to go long, look for the opposite signal to go short; long around/at support (with a bullish signal), short at resistance (with a bearish signal). Trade safe.

KP
Do your homework, follow the footprints of smart money
  • #431,633
  • May 31, 2016 7:21am May 31, 2016 7:21am
Quoting KeenPips
{quote} Dude, if you have signals that tell you to go long, look for the opposite signal to go short; long around/at support (with a bullish signal), short at resistance (with a bearish signal). Trade safe. KP
Cheers M8
Don't Leave Money on the Table
  • #431,634
  • May 31, 2016 7:30am May 31, 2016 7:30am
Quoting KeenPips
{quote} Good point. Trade your system. Lol
thanks, I check my pass trades I was making money on my long position and losing it on my short position and I made a decision, for now, i only stick with long position still I can figure out short position of trading
  • #431,635
  • May 31, 2016 7:33am May 31, 2016 7:33am
Quoting adetola99
{quote} 7pips sl and still holding
stop out @ -7 pips
  • #431,636
  • May 31, 2016 7:36am May 31, 2016 7:36am
Quoting adetola99
{quote} thanks, I check my pass trades I was making money on my long position and losing it on my short position and I made a decision, for now, i only stick with long position still I can figure out short position of trading
Wise! Mastering one method at a time is key, mastering one signal for good results pays. Btw, if you have learnt anything recently and want to share it with fellow traders, share it at a lesson learnt. Lol

KP
Do your homework, follow the footprints of smart money
  • #431,637
  • May 31, 2016 8:39am May 31, 2016 8:39am
Quoting KeenPips
{quote} Wise! Mastering one method at a time is key, mastering one signal for good results pays. Btw, if you have learnt anything recently and want to share it with fellow traders, share it at a lesson learnt. Lol KP
nice thread I hope we traders can be of help to each other
  • #431,638
  • May 31, 2016 8:45am May 31, 2016 8:45am
Quoting adetola99
{quote} nice thread I hope we traders can be of help to each other
Thanks. Trade safe.
Do your homework, follow the footprints of smart money
  • #431,639
  • May 31, 2016 9:35am May 31, 2016 9:35am
sellsellselll~~~
The only true wisdom is in knowing you know nothing.
  • #431,640
  • May 31, 2016 9:46am May 31, 2016 9:46am
in total for this week I have -4 pips still tomorrow I leave the rest for the bear traders
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