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Cable Update (GBPUSD)

  • #447,721
  • Jan 24, 2017 3:57am Jan 24, 2017 3:57am
Quoting thirdforex
These dip buyers are waiting at every opportunity to jump in long. This news is only providing that dip. I don't see a 200 pip drop so I'd be very careful shorting here.
its a case of buy the rumors sell the fact, which played out perfectly. gbp is still clearly under pressure in the long run
  • #447,722
  • Jan 24, 2017 4:00am Jan 24, 2017 4:00am
Quoting mades
{quote} Question is, if they are stronger than sellers who are waiting for the second opportunity to short it.
Smart money are waiting for good opportunity to reload longs. I don't know who shorts but those are usually the ones paying for the smart money. It's happened time and time again when news provide a spike against the trend, then smart money comes in to push price with the trend. It's easy money if you can spot it. I think we're still going up to 1.27 area today. I don't see any sign of a reversal to short yet. Daily and Weekly charts are down but 4H charts and lower are still going up.
I wanna be a billionaire so freaking bad!
  • #447,723
  • Jan 24, 2017 4:12am Jan 24, 2017 4:12am
Back to uncertainty
  • #447,724
  • Jan 24, 2017 4:16am Jan 24, 2017 4:16am
Quoting thirdforex
{quote} Smart money are waiting for good opportunity to reload longs. I don't know who shorts but those are usually the ones paying for the smart money. It's happened time and time again when news provide a spike against the trend, then smart money comes in to push price with the trend. It's easy money if you can spot it. I think we're still going up to 1.27 area today. I don't see any sign of a reversal to short yet. Daily and Weekly charts are down but 4H charts and lower are still going up.
The other scenario can be that smart money are waiting for the opportunity to reload shorts at 1.25 because we know how they love whole numbers and they also decided after late NY yesterday its a dollar bullish day. It's happened time and time again that we see a spike almost fully retraced only to be restarted again.

We'll see.
  • #447,725
  • Jan 24, 2017 4:21am Jan 24, 2017 4:21am
Usually don't trade the GBP but caught the news and took the short drop at 1.2515 all the way down and closed TP at 1.2443 with a nice 4 lot trade. Happy happy.
  • #447,726
  • Jan 24, 2017 4:44am Jan 24, 2017 4:44am
Quoting mades
{quote} The other scenario can be that smart money are waiting for the opportunity to reload shorts at 1.25 because we know how they love whole numbers and they also decided after late NY yesterday its a dollar bullish day. It's happened time and time again that we see a spike almost fully retraced only to be restarted again. We'll see.
main reason for the sell off, scottish referendum 2.0 might be in the making
  • #447,727
  • Jan 24, 2017 4:59am Jan 24, 2017 4:59am
Quoting thirdforex
{quote} Smart money are waiting for good opportunity to reload longs. I don't know who shorts but those are usually the ones paying for the smart money. It's happened time and time again when news provide a spike against the trend, then smart money comes in to push price with the trend. It's easy money if you can spot it. I think we're still going up to 1.27 area today. I don't see any sign of a reversal to short yet. Daily and Weekly charts are down but 4H charts and lower are still going up.
Eh bro! I think differently re-the trend. If you look at the HTFs, you will see that the major direction is southwards. What has been happening recently was a corrective move. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #447,728
  • Jan 24, 2017 4:59am Jan 24, 2017 4:59am
Quoting Bicarus
{quote} main reason for the sell off, scottish referendum 2.0 might be in the making
I was just trying to paint a different scenario for the guy who was so convinced it was just a bear trap.
  • #447,729
  • Jan 24, 2017 5:01am Jan 24, 2017 5:01am
Quoting iamawaited
short 1.2501 tp.. 1.2410.....
still waiting......
Trading Eternal...... Shiny & Chrome!!!!
  • #447,730
  • Jan 24, 2017 5:15am Jan 24, 2017 5:15am
Quoting NewToro
Usually don't trade the GBP but caught the news and took the short drop at 1.2515 all the way down and closed TP at 1.2443 with a nice 4 lot trade. Happy happy.
that's some good money mate
  • #447,731
  • Jan 24, 2017 5:25am Jan 24, 2017 5:25am
Quoting mamalujo
{quote} that's some good money mate
Definitely is! I'm usually just trading 0.25 lots but when the news came out and I saw the movement I decided to take a shot at it. Almost got out after +40 pips but reset my SL and managed to ride out an additional 40 before closing. Feels good. Wanted to short again at 2489 which now could have been another 40 pips but oh well.. Going to wait and see what happens next.
  • #447,732
  • Jan 24, 2017 5:45am Jan 24, 2017 5:45am
Quoting Wdfx
{quote} Hey Dean, I am in Alcaidesa on a trading course. I think you are probably a couple of hours away. I believe it is snowing up there? First I've looked at the forum since I've arrived. Don't know how to shout on the forum. I am here until Sunday. Course finishes on Friday.
HEY WD here is an mq4 version of the daily opening price - depending on which broker your using this can vary.
(Always remember to read the instructions before opening carefully lol )
Attached File(s)
File Type: mq4 daily_open_line.mq4   2 KB | 258 downloads
  • #447,733
  • Jan 24, 2017 5:54am Jan 24, 2017 5:54am
Quoting dean1star
{quote} HEY WD here is an mq4 version of the daily opening price - depending on which broker your using this can vary. (Always remember to read the instructions before opening carefully lol ) {file}
Cheers Dean,
Striving for consistency
  • #447,734
  • Jan 24, 2017 6:02am Jan 24, 2017 6:02am
Quoting Mr Breakout
{quote} What is the daily range for you, the high and low of the previous day?
I wanted to say breakout of range between daily support(D1S) and resistance(D1R) red lines.. Now price is in retrace but you see where targets are.
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 49 KB
pro4ex trading suite
  • #447,735
  • Jan 24, 2017 6:26am Jan 24, 2017 6:26am
Still holding pp 2460 as soon as this 1 hour candle close . If you look at it the up was held by the doji type candle
  • #447,736
  • Jan 24, 2017 6:28am Jan 24, 2017 6:28am
Quoting Mr Breakout
By the way Fontu, here is the right way to trade a double bottom: {image}
I'm a new trader, do you mind telling me why it's better to go long at the top rather than bottom? Thanks pal
Did Mike Jordan always make so much bank or Snoop Doggy roll so much dank?
  • #447,737
  • Jan 24, 2017 6:32am Jan 24, 2017 6:32am
Price moves down to the support line to the point of 1.24212. I suppose that the price reaching this point will go up to the point of 1.25085.
Attached Image (click to enlarge)
Click to Enlarge Name: 10legion.png Size: 37 KB
  • #447,738
  • Jan 24, 2017 6:34am Jan 24, 2017 6:34am
Quoting Zakhar13
Price moves down to the support line to the point of 1.24212. I suppose that the price reaching this point will go up to the point of 1.25085. {image}
Those are some serious lotsizes
  • #447,739
  • Jan 24, 2017 6:50am Jan 24, 2017 6:50am
Quoting Tekkonkira
{quote} I'm a new trader, do you mind telling me why it's better to go long at the top rather than bottom? Thanks pal
Excuse me for butting in here but as a newbie just take on board that just because someone says something does not effectively mean that what they are saying is correct - just a heads up - your system or your trading style might not be similar to theirs, however its all a learning curve as such. Nothing to do with who is correct or not OK its just saying something obvious to all who have travelled the same path.
  • #447,740
  • Jan 24, 2017 7:00am Jan 24, 2017 7:00am
Quoting mades
{quote} The other scenario can be that smart money are waiting for the opportunity to reload shorts at 1.25 because we know how they love whole numbers and they also decided after late NY yesterday its a dollar bullish day. It's happened time and time again that we see a spike almost fully retraced only to be restarted again. We'll see.
looks like I was right.
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