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Cable Update (GBPUSD)

  • #444,721
  • Oct 31, 2016 10:22am Oct 31, 2016 10:22am
Quoting yuddy
{quote} That 61.8 fib level held nicely, it's bear time pals.
Okay you Bears...You've had your fun but any chance you could hold off Fading the breakout of this Bull Flag?
  • #444,722
  • Oct 31, 2016 10:50am Oct 31, 2016 10:50am
http://www.forexfactory.com/showthre...26#post9227626

post update
Attached Image
  • #444,723
  • Oct 31, 2016 10:51am Oct 31, 2016 10:51am
Trading the breakout long at 2230, Hopefully it isn't a false break
Striving for consistency
  • #444,724
  • Oct 31, 2016 10:59am Oct 31, 2016 10:59am
Quoting Wdfx
Trading the breakout long at 2230, Hopefully it isn't a false break
Again back out at BE. How nervy am I on Cable.???
Striving for consistency
  • #444,725
  • Oct 31, 2016 11:05am Oct 31, 2016 11:05am
zig zag
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  • #444,726
  • Oct 31, 2016 11:16am Oct 31, 2016 11:16am
go sell gbp.
sl tp +-100 pip.
good luck.
joine me mql5.........
  • #444,727
  • Oct 31, 2016 11:28am Oct 31, 2016 11:28am
Quoting Wdfx
{quote} Again back out at BE. How nervy am I on Cable.???
Your'e fine, you are kicking yourself for closing the initial trade too soon and are chasing it up when your inner self knows that chasing a market is rarely a good idea. As such any slight movement against you and you close.

Weve all done it / do it.

Dont beat yourself up, you sat right and timed a good trade earlier then took profits at a residence/ breakout level knowing sellers were likely to have a crack at sending it down.

Pro traders do what you did then they walk away and await their next trade...that's the tough part...walking away
  • #444,728
  • Oct 31, 2016 11:40am Oct 31, 2016 11:40am
Quoting FXClarity
{quote} Okay you Bears...You've had your fun but any chance you could hold off Fading the breakout of this Bull Flag?
I think bears will be squeezed this week. Let's see what the BoE says.
Be hopeful in a winning position, and fearful in a losing position.
  • #444,729
  • Oct 31, 2016 11:44am Oct 31, 2016 11:44am
Quoting Rag2RichesFX
{quote} I think bears will be squeezed this week. Let's see what the BoE says.
God knows mate. I did make a post earlier stating "I believed it was going down a bit then up a lot". AKA a Bull Flag but this is only 1 swing in a very sloppy range.

that said I'm temporarily off scalping and into Long position building now. So if it comes off again I'll take the heat.
  • #444,730
  • Oct 31, 2016 11:47am Oct 31, 2016 11:47am
what a big mess is cable right now
  • #444,731
  • Oct 31, 2016 12:03pm Oct 31, 2016 12:03pm
Quoting FXClarity
{quote} Your'e fine, you are kicking yourself for closing the initial trade too soon and are chasing it up when your inner self knows that chasing a market is rarely a good idea. As such any slight movement against you and you close. Weve all done it / do it. Dont beat yourself up, you sat right and timed a good trade earlier then took profits at a residence/ breakout level knowing sellers were likely to have a crack at sending it down. Pro traders do what you did then they walk away and await their next trade...that's the tough part...walking away...
Thanks for the advice - re assurance
Striving for consistency
  • #444,732
  • Oct 31, 2016 3:31pm Oct 31, 2016 3:31pm
This is the area where bears should re-emerge.

If not I think another 100 pips higher we will go.
Attached Image
Be hopeful in a winning position, and fearful in a losing position.
  • #444,733
  • Oct 31, 2016 3:40pm Oct 31, 2016 3:40pm
Quoting Rag2RichesFX
This is the area where bears should re-emerge. If not I think another 100 pips higher we will go. {image}
So it will either go down or it will go up! Have you considered sideways also?
  • #444,734
  • Edited 4:13pm Oct 31, 2016 3:52pm | Edited 4:13pm
don't think any change also I doubt their do anything that will lower exchange rate ,numbers have been green and inflation are the themes


In particular, says the Daily Telegraph [2], Carney indicated the "inflationary impact" of the currency's slump "could encourage him to vote against any further interest rate cuts
The pound's recent fall is "undoubtedly something we will take into account over the course of the next week", he added, a comment some believe scotches the chance of another rate cut

Quoting m-rajaie
What is your opinion in relation to changes in interest rates this week?
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #444,735
  • Oct 31, 2016 4:08pm Oct 31, 2016 4:08pm
Quoting Rag2RichesFX
This is the area where bears should re-emerge. If not I think another 100 pips higher we will go. {image}
Interesting - I haven't anything on my scanner...Unless the current BF formation collapses.
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  • #444,736
  • Oct 31, 2016 4:15pm Oct 31, 2016 4:15pm
Current 240 min view..Could be sideways slop for a while just yet.
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  • #444,737
  • Oct 31, 2016 5:35pm Oct 31, 2016 5:35pm
Quoting FXClarity
Current 240 min view..Could be sideways slop for a while just yet. {image}
Awaiting that huge breakout to fill the lack of liquidity (flash crash) through 1.25-1.28 area

Happened with Brexit and it will happen again. GJ rallied 1450 pips after Brexit, nearly a 50% retracement of the Brexit move (before continuing trend)
Be hopeful in a winning position, and fearful in a losing position.
  • #444,738
  • Oct 31, 2016 9:16pm Oct 31, 2016 9:16pm
The new monthly pivot is directly above last weeks high.
Attached Image
Be hopeful in a winning position, and fearful in a losing position.
  • #444,739
  • Oct 31, 2016 11:09pm Oct 31, 2016 11:09pm
Short.
Conservative target: 1.22118
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Demo only
  • #444,740
  • Oct 31, 2016 11:24pm Oct 31, 2016 11:24pm
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