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Cable Update (GBPUSD)

  • #439,121
  • Sep 6, 2016 7:36am Sep 6, 2016 7:36am
Quoting Lock
{quote} You're welcome.
Hi Lock, I am very interested in Market Profile. if you don't mind I will pm you
Striving for consistency
  • #439,122
  • Sep 6, 2016 7:39am Sep 6, 2016 7:39am
I have been doing a lot of economic calendar analysis lately and today is somehow puzzled picture. All i desire to have is picture of perfection which may happen if I have some more information from intelligent people I am relating with on this forum.

The US-Data coming ahead will have a HIGH impact on the chart and price trend. Of which, I really want to take positive advantage of.

Anyone with honest response to this will be highly appreciated.
Attached Image (click to enlarge)
Click to Enlarge Name: today.png Size: 26 KB
  • #439,123
  • Edited 7:52am Sep 6, 2016 7:41am | Edited 7:52am
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd day.PNG Size: 47 KB


looks good but still in a channel needs to break daily chart 60ema..
  • #439,124
  • Sep 6, 2016 7:47am Sep 6, 2016 7:47am
Quoting Wdfx
{quote} I have the same problem and it is due to impatience. I know that at times I should wait a little longer for my entry point hence being able to place my stop just below or above support / resistance levels. I have a big sign above my desk saying "don't jump in". All the advice I have read emphasises two things being money management and controlling emotions. The best beginners book I have read is by a Cory Mitchell. It was brilliant, very comprehensive and relatively cheap. I have spent fortunes on rubbish. This one was good. Checkout his...
thanks, will surely try it
little bit of sense, little bit of luck
Ktr Return This Month: na
  • #439,125
  • Sep 6, 2016 7:48am Sep 6, 2016 7:48am
Quoting Sammih
{quote} Its very curious how we all, at some point do this; hold on to losers for too long hoping it will come back and close out profits too fast afraid it will retrace while we should cut loses short in fear of a run away loser and hold winners in hope of a run away winner.
you are right
little bit of sense, little bit of luck
Ktr Return This Month: na
  • #439,126
  • Sep 6, 2016 7:48am Sep 6, 2016 7:48am
Quoting Wdfx
{quote} Hi Lock, I am very interested in Market Profile. if you don't mind I will pm you
Ok.
Ubi maior minor cessat
  • #439,127
  • Sep 6, 2016 7:50am Sep 6, 2016 7:50am
here ,your fundi is a minimum ,thats a guess


Quoting actionmoney
I have been doing a lot of economic calendar analysis lately and today is somehow puzzled picture. All i desire to have is picture of perfection which may happen if I have some more information from intelligent people I am relating with on this forum. The US-Data coming ahead will have a HIGH impact on the chart and price trend. Of which, I really want to take positive advantage of. Anyone with honest response to this will be highly appreciated. {image}
Attached Image(s) (click to enlarge)
Click to Enlarge Name: last week .png Size: 241 KB
Click to Enlarge Name: this week.png Size: 162 KB
Click to Enlarge Name: next week .png Size: 195 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #439,128
  • Sep 6, 2016 7:53am Sep 6, 2016 7:53am
Quoting Bones
here ,your fundi is a minimum ,thats a guess {quote} {image} {image} {image}
That doesn't answer any of My question sir.

Still thanks for giving the pictorial calendar.
  • #439,129
  • Sep 6, 2016 7:56am Sep 6, 2016 7:56am
Quoting Lock
{quote} Ok.
Thanks Lock
Striving for consistency
  • #439,130
  • Sep 6, 2016 7:56am Sep 6, 2016 7:56am
Quoting Bones
here ,your fundi is a minimum ,thats a guess {quote} {image} {image} {image}
This is USD week... starting from today and next week will bring a stronger gbp.

What is your opinion sir?
  • #439,131
  • Sep 6, 2016 7:57am Sep 6, 2016 7:57am
it dose action
if you think about it ,apart from NFP the news your looking is a small part ,honestly you can't trade like that ,in time your see

Quoting actionmoney
{quote} That doesn't answer any of My question sir. Still thanks for giving the pictorial calendar.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #439,132
  • Sep 6, 2016 7:58am Sep 6, 2016 7:58am
SALE 3360 SL 3380 TP Open
  • #439,133
  • Sep 6, 2016 8:03am Sep 6, 2016 8:03am
theres a negative feeling toward $ right now
all that data and more is in the chart

Quoting actionmoney
{quote} This is USD week... starting from today and next week will bring a stronger gbp. What is your opinion sir?
Attached Image (click to enlarge)
Click to Enlarge Name: usdx.png Size: 40 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #439,134
  • Sep 6, 2016 8:05am Sep 6, 2016 8:05am
Quoting Bones
it dose action if you think about it ,apart from NFP the news your looking is a small part ,honestly you can't trade like that ,in time your see {quote}
I appreciate your honest response. Would you be kind enough to tell in which direct we are heading in less than 56mins left to US-Data. I'm on here to learn how to trade better not here for argument or to prove that I am good/better than anyone.

Money managements requires techniques Of which I am ready to learn all day every day.
  • #439,135
  • Sep 6, 2016 8:10am Sep 6, 2016 8:10am
I'm sorry action the situ is tricky to call short time
since cable is at high res and overbrought ,all I think is cable is bullish

Quoting actionmoney
{quote} I appreciate your honest response. Would you be kind enough to tell in which direct we are heading in less than 56mins left to US-Data. I'm on here to learn how to trade better not here for argument or to prove that I am good/better than anyone. Money managements requires techniques Of which I am ready to learn all day every day.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #439,136
  • Sep 6, 2016 8:18am Sep 6, 2016 8:18am
to be fundi you need to think whats the problems looming with data known theres no way you can take one event news will surprise cause you don't know the big picture ,
but then you need to also know out the wood work stuff ,which is impossible for retail imo

Quoting actionmoney
{quote} I appreciate your honest response. Would you be kind enough to tell in which direct we are heading in less than 56mins left to US-Data. I'm on here to learn how to trade better not here for argument or to prove that I am good/better than anyone. Money managements requires techniques Of which I am ready to learn all day every day.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #439,137
  • Sep 6, 2016 8:20am Sep 6, 2016 8:20am
Quoting Bones
to be fundi you need to think whats the problems looming with data known theres no way you can take one event news will surprise cause you don't know the big picture , but then you need to also know out the wood work stuff ,which is impossible for retail imo {quote}
Thanks.
  • #439,138
  • Sep 6, 2016 8:22am Sep 6, 2016 8:22am
lots green GBP data ,inflation report tomorrow ,devalued GBP ,I think theres the problem and thats why GBP been strong but I wouldn't trade that view
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #439,139
  • Sep 6, 2016 8:22am Sep 6, 2016 8:22am
Quoting actionmoney
I have been doing a lot of economic calendar analysis lately and today is somehow puzzled picture. All i desire to have is picture of perfection which may happen if I have some more information from intelligent people I am relating with on this forum. The US-Data coming ahead will have a HIGH impact on the chart and price trend. Of which, I really want to take positive advantage of. Anyone with honest response to this will be highly appreciated. {image}
My suggestion is that it is really better to avoid economic calendar analysis unless you are an investor. If you are a day trader, as it looks like, you have to consider that news (past and upcoming) are normally embedded in the price structure you have in front of your ayes right now. Even when an exogenous event(something unpredictable outside the normal calendar news schedule) occurs you may estimate the limits of its consequences if you understend the market information you already have.
Obviously in some occasions you do not understand a particular market and in that case you cannot take advantage of any occurrent news. In these particular cases the right choice is simply to step out, watch and wait untill you finally will comprehend what market is currently doing.
For instance, right know I understend something about this market but it is not enough to be involved in it because I do not understand exactly if the weakness below will be skipped or not in the upcoming price action. For this reason I'm not trading (with real major accounts) and I will continue in this manner untill some structural aspect will finally let me understend where the odds are placed. (and this could happen in a matter of seconds if I'm present in a particular market and I've preserved my psychological capital)
Ubi maior minor cessat
  • #439,140
  • Sep 6, 2016 8:27am Sep 6, 2016 8:27am
We are going to open Pit session with a gap upwards. The base of the gap is at yesterday pit high 3331. If the gap is preserved it could act as support for upcoming news. But structure below is still impressively weak.
Anyway , as written before, to see continuation upwards, we want to see acceptation above friday pit session high at 3352.
Ubi maior minor cessat
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