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Cable Update (GBPUSD)

  • #444,481
  • Oct 25, 2016 5:53pm Oct 25, 2016 5:53pm
Quoting Bones
yea I don't know so much with this yearly this monthly candle will be a bearish in all probability since you had 3 candle consolidation then gap and fall {quote} {image} {image}
Yes but if November doesn't close green, I'm thinking December will.

Just based off of what I'm seeing now. The best opportunity comes when there's blood in the streets.

Also BNP Paribas put out a buy recommendation @ 1.22 for 6 month time horizon to target 1.30-1.35
Be hopeful in a winning position, and fearful in a losing position.
  • #444,482
  • Oct 25, 2016 5:58pm Oct 25, 2016 5:58pm
Quoting FXClarity
{quote} Bears are having all the fun and certainly an easier life..The best I've managed to scalp out is about 120 pips and typically its been 5 - 30 pips on longs...in the interests of transparency I got my ass handed to me on a plate in the FC and am down 8% this month. Goodnight all
My stop was honored, only a little slippage. Took a loss of 60 pips on the FC, could have been 500.

Sorry to hear about your losses.

In the past 3 months I had a 855 pip long and 913 pip long on GBPJPY (130ish to 138/139ish, twice)

So money can definitely be made playing long side. Whether its harder or not to trade counter trend has to do with your own trading personality.
Be hopeful in a winning position, and fearful in a losing position.
  • #444,483
  • Oct 25, 2016 6:05pm Oct 25, 2016 6:05pm
Quoting Rag2RichesFX
{quote} My stop was honored, only a little slippage. Took a loss of 60 pips on the FC, could have been 500. Sorry to hear about your losses. In the past 3 months I had a 855 pip long and 913 pip long on GJ (130ish to 138/139ish, twice) on the GBPJPY. So money can definitely be made playing long side. Whether its harder or not to trade counter trend has to do with your own trading personality.
Agreed, I'm up about 63% over 18 months with this strategy so accepting a kicking off a black swan now and again is an occupational hazard we all must face at some stage.
  • #444,484
  • Oct 25, 2016 6:14pm Oct 25, 2016 6:14pm
Quoting FXClarity
{quote} Agreed, I'm up about 63% over 18 months with this strategy so accepting a kicking off a black swan now and again is an occupational hazard we all must face at some stage.
I'm up 14% in the past 12 days and 50% over 3 months.

I take 1-3% risk per trade.

You must have a much lower risk profile than myself but that's still a great return.

See you all for London (if I'm in a chatty mood). Happy trading.
Be hopeful in a winning position, and fearful in a losing position.
  • #444,485
  • Oct 25, 2016 6:17pm Oct 25, 2016 6:17pm
Quoting FXClarity
{quote} Bears are having all the fun and certainly an easier life..The best I've managed to scalp out is about 120 pips and typically its been 5 - 30 pips on longs...in the interests of transparency I got my ass handed to me on a plate in the FC and am down 8% this month. Goodnight all
http://www.forexfactory.com/trades.p...ions-details=1
Yep, the detailed stats above confirm the easier path.

Even though the bears (like the bulls) have lost more trades than they have won, the average gain is still 6% (last 2 weeks), indicating good R/R trades.

However, some traders feel that when trading with the trend you need a larger SL than when counter trend trading.

Not really sure I understand this logic as the stats indicate average long entry is above 1.26 and average short entry is above 1.25.

Go figure...

Come with me if you want to live....
  • #444,486
  • Oct 25, 2016 7:43pm Oct 25, 2016 7:43pm
See how long that last low stays for - you can kinda see how they are moving in this moment.
Waiting for a new low from yesterday for sure. To coincide with the end of the monthly candle in a few days.
Low price 117 floor 120 ceiling.
  • #444,487
  • Edited 8:43pm Oct 25, 2016 8:30pm | Edited 8:43pm
Can you see how previous channel support is being tested... With a 78.6% retracement...
Attached Image (click to enlarge)
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  • #444,488
  • Oct 25, 2016 8:54pm Oct 25, 2016 8:54pm
Quoting kk300
Can you see how previous channel support is being tested... With a 78.6% retracement... {image}
Why so many people draw the Fibo backward? 
When i learned the basics it was taught the proper way in all examples .....
The computer version is different from Android version but still. Not good..... 
 
You aren't suggesting 1.2340 now are you??? 
And buying this....  
Swimming the Atlantic seems safer.
Beware of robber banks (RB), bad advisors.
  • #444,489
  • Oct 26, 2016 12:22am Oct 26, 2016 12:22am
Morning check page 324 on Mr Scott thread ..hit some 61% extensions around 2080 fail them 1.95 my god long 2675 on the chart Regards B
  • #444,490
  • Oct 26, 2016 12:24am Oct 26, 2016 12:24am
Quoting elbert3
Stopped on last trade but never had a short No on the day chart draw a line as it is late now from the bottom to the bottom of today's candle if to breaks then we have to take a short so now any longs have to have a tight sl any bounce off that line would be a good long so let's see
As above work of that plan for me let's see fib on yesterday's candle meets that new tl
  • #444,491
  • Oct 26, 2016 1:24am Oct 26, 2016 1:24am
Inserted Video
  • #444,492
  • Oct 26, 2016 1:35am Oct 26, 2016 1:35am
EARLY MORNING REPORT
Ubi maior minor cessat
  • #444,493
  • Oct 26, 2016 2:48am Oct 26, 2016 2:48am
I'd be looking around 1.24xx now and see what will happen there

Plenty of resistance first but good buyers yesterday
Make money by doing the opposite of Giveachance aka loser
  • #444,494
  • Oct 26, 2016 3:07am Oct 26, 2016 3:07am
3 longs now in play again.
est 90 pips in profit see how it plays but waiting for a drop around wall st time - as they just cant resist them drops now can they. Modus operandi .. whatever.
  • #444,495
  • Oct 26, 2016 3:16am Oct 26, 2016 3:16am
Quoting bg_sunny
{quote} Well I gotta admit what I have to admit... I got my ass kicked by this pair today. Back to paper and pen.
Sorry to hear that BG ..
  • #444,496
  • Edited 4:00am Oct 26, 2016 3:49am | Edited 4:00am
ok on support areas playing but it does not have enough Backbone to make a false move & trend changes or proper correction at least . so again expecting make real lows to try it again. This real lows may be too early previous low / 1.1950> 1.1900, 1.1800.market may need at least break 1.2476 next time!!. Take care
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #444,497
  • Oct 26, 2016 4:27am Oct 26, 2016 4:27am
1.2450 at minimum

swing account
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Be hopeful in a winning position, and fearful in a losing position.
  • #444,498
  • Oct 26, 2016 4:40am Oct 26, 2016 4:40am
watch 2250-60 area, looks pretty stiff to break
Come with me if you want to live....
  • #444,499
  • Oct 26, 2016 4:40am Oct 26, 2016 4:40am
Attachment
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  • #444,500
  • Oct 26, 2016 5:05am Oct 26, 2016 5:05am
Pretty much how I'm seeing it - we are right of the downtrend resistance line here
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