Cable Update (GBPUSD)

Yep Draghi jawboning again....Euro plummeted, then shot back up to resistance at 1216....

Now what about GbpUsd, Unemployment claim came 267K against forecast 270K a better figure can $ improve and Gbp may ease?

with all the news and speeches it's hard to tell what will happen....better of letting this die down before trading.....Carney speaking now

You are right, It is time to keep fingers crossed.

long 1.44500

The 50sma is at 4455 if it can get above that this hour we could see a rise to 4500....

London fix in a minute, interesting to see if it affects price

Its been long, what happened to this thread.. its so slow!!

Eyes still on the prize so MAYBE!!!.... still watching

Fundamental view and Brexit is now leading in the polls and is gaining strength every day.

The remain campaign have used all their cards and mistimed them. David Cameron is hugely unpopular and perceived as a blatant lier, the remain campaign is seen as disingenuous.

What's interesting about this vote is its becoming a class war. Working classes vs the Establishment/big business. I am convinced the working class will win this vote and Brexit will happen this month.

Therefore I am holding on to all my long term shorts to 1.39.

Near term on daily chart I see a 75% chance of a short day tomorrow.​

Therefore I will hold yesterdays short @ 1.4462

Targeting 1.4350

GU short-term LONG, increasing longs and decreasing sells in SSI.

Updated SSI from https://www.dailyfx.com/sentiment

I'm short in this trade, my Ichimoku indi just had its strongest signal a few hours ago.

If it drops below 4400 I agree cable is heading lower, but if 4400 holds I see this heading higher...NFP out later

Daily PP @ 4430 and hourly @ 4412

Cable can break 1.4420 and retrace back to weekly pivot at 1.46011 and then up to new high for month

hello guys
as i mentioned few days ago ( sorry i was out and missed a lot of action anyway) Brexit will weigh on Pound and it did but today its all about NFP and no one for sure can predict the NFP that is Fact so lets talk Technical from where i am looking at news time it may drop a little but as far as trading is concerned i am NOT SELLING POUND or even EURO today if possible i will buy or i will wait for Monday for the dust to clear and will see where this is heading,
my Advise we are not Big boys not here on FF anyway so we cannot afford big drops or vice versa so if i were you i will stay out of this mess there are many things to consider (FeD * BreXit * NFP) market can react on Conclusion or Fear or Rumours and that is not what i am looking to spend my Weekend on believe me i need Stress Free weekend not waiting for the market to open to see where it might go

This Concludes the best winning strategy for such a Day/Week

and one important thing that came with experience as we all know Most traders do the mistake of HOPE which means they take 30 pips profit but same position they hold for -150 pips just in HOPES that it will return and Problem is that when ever you look at news Forecasts or Websites looking for a reason to Hold on to your Position no matter what believe me you will find something technical levels this and that support or resistance or Fundamentals Brexit
for example if i bought Pound sold today and it jumped 200 pips i will have excuse that it went up YES but it was just News flash and Brexit is going to weigh on Pound very soon or Fed will soon Increase rates as we seen on News so Pound will fall so lets hold on to my position and MAN I AM TRADING WITH LOW LEVERAGE I HAVE ENOUGH MONEY NO PROBLEM IF I LOOSE 2% OR 3% ITS FINE I CAN RECOVER THAT IN NO TIME, THAT IS SOMETHING WE ALL THINK ONE TIME OR ANOTHER DURING THE DAY BELIEVE ME THAT IS TRUE AND ASK YOUR SELF IF YOU HAVE NOT DONE THAT PLEASE DO AND YOU WILL FIND OUT I AM NOT WRONG,
FACT IS that is our nature and it goes for 70% of us believe me i am in this game long enough to know how human mind works in this market, and i have seen enough and i have done it my self many many times for years before i admitted to my self that i need to control that and it took me a long long time and a lot of money to do that believe it was very very painful and what worked for me that i close my position and leave market for at least 1 day or 2 is the best that way you can control you emotions because when you come back after 2 days you will find market with new direction and prospective + there are better things to worry about then your old position.
and that is working good for me, i took loss in Pound last time and i went out for 3 days and even to today i am only back for NFP to see what will happen not for Real Trades not today i will do it on Monday but not sure for Today,
to be honest i was not wrong it just is that pound jumped before 1.44 target can hit it hit my stop 1.4650 and i thought lets take rest and i am happy i did
some times we can be wrong and there is no harm on admitting that my calculation was not enough and market went 40-50 pips before it goes down to my target and that is ok because next time i will be more careful with my research or technical or what ever my trading is based on and that is good thing to be wrong once in while because that teaches you that you are not perfect on one is but we actually had to be reminded that we are not good enough so we can concentrate more and work hard and try always try to be as good as you can be, so learning in forex never ends that is the best part for me, anyways sorry for long Message but i needed to tell you guys that its never over not in this market at least.
Good Luck to all of you just be careful never think you have learned enough because its never enough in Forex and that is Fact..
Wish you all the Best

Thanks for your accurate words...theres only two types of traders who haven't experienced that, 1. The Trader who hasn't done enough trading to have experienced what your talking about and 2. There are Traders who for what ever reason just get it of the bat and trade successfully from day 1, a very rare type indeed and I know of one trader like that and it's as hard for him to trade FX as breathing....

Excellent post. 100% agree. Exactly I am going through all this. Four letter word is very dangerous in forex market. "HOPE"
Happy trading all.

I dont think there is a right way to trade that someone could teach another.
whatever a trader can do to make consistent growth over time, is the right way for that trader.
there are so many different ways to approach this. so many different mindsets as well.
whatever works for you in the long run, is 'your' right way to trade.
8 million tales in the naked city, and this is just but one of them