Cable Update (GBPUSD)
- #447,761
- Jan 24, 2017 5:02pm Jan 24, 2017 5:02pm
- Joined May 2011 | Status: Making money 1 pip at a time. | 2,150 Posts
- #447,762
- Jan 24, 2017 5:07pm Jan 24, 2017 5:07pm
- Joined May 2011 | Status: Making money 1 pip at a time. | 2,150 Posts
i would be looking for shorts only if it breaks again 1.2100 / 1.2000 to the downside
Personally I cannot wait for a 500 pip move to place a trade, no way, I would rather watch paint dry!
- #447,763
- Jan 24, 2017 5:19pm Jan 24, 2017 5:19pm
- Joined Dec 2005 | Status: Trader | 2,857 Posts
{quote} Wow, you are probably trading with higher time frames. Personally I cannot wait for a 500 pip move to place a trade, no way, I would rather watch paint dry!
if you look at the chart , since the flash crash of Oct 7 , we are moving roughly in a 1.1975 - 1.2750 trading range
so the breakout of either side of this trading range could determine the pound's next direction in the short term
- #447,764
- Jan 24, 2017 5:29pm Jan 24, 2017 5:29pm
- Joined Jan 2010 | Status: The Voodoo Boodoo Club | 42,050 Posts
{quote} Hi Tekkonkira, Trading double tops (DT) and double bottoms (DB) is tricky. In fact these charts patterns are the least reliable. But if you still want to trade them you should at least wait for confirmation before pulling the trigger, because more than 70% of DT and DB are fake. The confirmation is a breakout of the high between the double bottoms (see picture below) or a breakout of the low between the double tops. An even more conservative way to play them is to wait for the breakout, then the pullback to the breakout line and finally...
- #447,765
- Jan 24, 2017 5:41pm Jan 24, 2017 5:41pm
- Joined May 2011 | Status: Making money 1 pip at a time. | 2,150 Posts
since the flash crash of Oct 7 , we are moving roughly in a 1.1975 - 1.2750
On the 1H chart we see a huge bullish candlestick pattern, the 3 White Soldiers. Only here there are four of them (see chart below and look at their size)!
This is a powerful bullish pattern that should always be taken seriously, although short term reversals are still possible.
- #447,766
- Jan 24, 2017 6:04pm Jan 24, 2017 6:04pm
- Joined May 2011 | Status: Making money 1 pip at a time. | 2,150 Posts
- #447,768
- Jan 24, 2017 6:15pm Jan 24, 2017 6:15pm
- Joined May 2011 | Status: Making money 1 pip at a time. | 2,150 Posts
{quote} i closed them @ 12531
That means the next round is on you
- #447,770
- Jan 24, 2017 6:19pm Jan 24, 2017 6:19pm
- Joined May 2011 | Status: Making money 1 pip at a time. | 2,150 Posts
- #447,771
- Jan 24, 2017 6:24pm Jan 24, 2017 6:24pm
- Joined May 2011 | Status: Making money 1 pip at a time. | 2,150 Posts
- #447,773
- Jan 24, 2017 6:30pm Jan 24, 2017 6:30pm
- Joined May 2011 | Status: Making money 1 pip at a time. | 2,150 Posts
Houston, we have a liftoff ! 
- #447,774
- Jan 24, 2017 6:37pm Jan 24, 2017 6:37pm
- Joined Mar 2016 | Status: Trader | 6,378 Posts
Houston, we have a liftoff !
Nice trade though... Well done that man
- #447,775
- Jan 24, 2017 6:41pm Jan 24, 2017 6:41pm
- Joined May 2011 | Status: Making money 1 pip at a time. | 2,150 Posts
- #447,777
- Jan 24, 2017 7:11pm Jan 24, 2017 7:11pm
- Joined May 2011 | Status: Making money 1 pip at a time. | 2,150 Posts
- #447,780
- Jan 24, 2017 7:41pm Jan 24, 2017 7:41pm
- Joined May 2011 | Status: Making money 1 pip at a time. | 2,150 Posts
{quote}have a good day