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Cable Update (GBPUSD)

  • #448,601
  • Jan 31, 2017 10:05am Jan 31, 2017 10:05am
Quoting thirdforex
Long at 1.2475. This could be the low for this week. I'm still in buy dip mode so I think this is a good spot to load up.
Easy money!!! Out at 1.2586. Waiting patiently for next dip/setup.
I wanna be a billionaire so freaking bad!
  • #448,602
  • Jan 31, 2017 10:11am Jan 31, 2017 10:11am
not how can you work with it
http://www.forexfactory.com/showthre...00#post9503200
Quoting Toranaga
FYI. Trend line or not.. Thats how it looks atm. {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #448,603
  • Jan 31, 2017 10:12am Jan 31, 2017 10:12am
all it has to do is break

Quoting Bones
could be something.. {image}
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #448,604
  • Jan 31, 2017 10:21am Jan 31, 2017 10:21am
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #448,605
  • Jan 31, 2017 11:15am Jan 31, 2017 11:15am
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #448,606
  • Jan 31, 2017 11:26am Jan 31, 2017 11:26am
GBPUSD short
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  • #448,607
  • Jan 31, 2017 11:36am Jan 31, 2017 11:36am
Quoting Bones
JPY (DFB).png;2165472 {image}
Sorry, but wrong thread.

Here is the Gbp/Usd thread not Gbp/Jpy.

Correlation or so besides..

Greets.

How to opt out annoying user signatures ??
  • #448,608
  • Jan 31, 2017 11:45am Jan 31, 2017 11:45am
correlations important
+120 from post so far

Quoting Bones
could be something.. {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #448,609
  • Jan 31, 2017 2:36pm Jan 31, 2017 2:36pm
Quoting Mr Breakout
Pending short limit order at 1.2520, 35 pip stop.
That pending order was of course cancelled, after the cable made that huge reversal move around 5AM (EST).

I mean when the market makes a 100 pip down move and then completely reverses its direction and goes the other way something is terribly wrong, as far as day trading is concerned.

Never argue with the market and always trade the chart, not your opinions, that's my motto.
  • #448,610
  • Jan 31, 2017 2:51pm Jan 31, 2017 2:51pm
Quoting Don96
{quote} missed it {image}
oh shitttt
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  • #448,611
  • Jan 31, 2017 4:04pm Jan 31, 2017 4:04pm
now what, failed to take out 1.26, which I'm sure the bulls want, but its just a chip shot away....what of the bears, they make their stand here? I see no real R and two pretty sneaky supports now...
Attached Image (click to enlarge)
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Look Sharp/Trade Tight
  • #448,612
  • Jan 31, 2017 4:14pm Jan 31, 2017 4:14pm
By the way did you notice the huge bear trap candle around 4:30 AM EST (9:30 AM London time).

The cable and other currencies just love to print these huge scary bullshit candles after the London's open, to trap the bears or the bulls, depending on market's direction.

Unfortunately I was asleep at that time, I cannot trade London given the shitty time zone I am in.
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  • #448,613
  • Jan 31, 2017 4:18pm Jan 31, 2017 4:18pm
Quoting Mr Breakout
By the way did you notice the huge bear trap candle around 4:30 AM EST (9:30 AM London time). The cable and other currencies just love to print these huge scary bullshit candles after the London's open, to trap the bears or the bulls, depending on market's direction. Unfortunately I was asleep at that time, I cannot trade London given the shitty time zone I am in. {image}
yup, right through 2417, very sneaky...
Look Sharp/Trade Tight
  • #448,614
  • Jan 31, 2017 4:49pm Jan 31, 2017 4:49pm
bbl, gl, PTL...
Look Sharp/Trade Tight
  • #448,615
  • Jan 31, 2017 5:01pm Jan 31, 2017 5:01pm
Where do people see this getting to over night
  • #448,616
  • Jan 31, 2017 7:54pm Jan 31, 2017 7:54pm
Quoting IvanAntipov
Where do people see this getting to over night
As long as 1.2540 holds as support, look for a further rise towards 1.2600 and even 1.2630 in extension. Below 1.2540, expect a further drop to 1.2515 and 1.2470 as targets.
  • #448,617
  • Jan 31, 2017 8:48pm Jan 31, 2017 8:48pm
Quoting Mr Breakout
By the way did you notice the huge bear trap candle around 4:30 AM EST (9:30 AM London time). The cable and other currencies just love to print these huge scary bullshit candles after the London's open, to trap the bears or the bulls, depending on market's direction. Unfortunately I was asleep at that time, I cannot trade London given the shitty time zone I am in. {image}
That's not a trap , its profit taking level, the sharp turn was bound to happen like previous , nobody should have hold position beyond that level or around that level , for day trader of course .

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if its going down pass 1.2527 then its fun for me to trade ,
  • #448,618
  • Edited 9:44pm Jan 31, 2017 9:25pm | Edited 9:44pm
Quoting manixramz
That's not a trap
Oh yes it is, these huge trap candles appear almost routinely during the London session (not necessarily on the cable), to entice unsuspecting day-traders to buy or sell almost at the exact high/low of the day (in other words at the worst possible price), and then the real trend begins, the other way of course...

And why would any profit taking activity be that sudden anyway, and at almost always the same time period of the day??

"The market is never obvious. It is designed to FOOLmost of the people, most of the time."
Legendary trader Jesse Livermore.
  • #448,619
  • Jan 31, 2017 10:12pm Jan 31, 2017 10:12pm
Quoting Mr Breakout
{quote} Oh yes it is, these huge trap candles appear almost routinely during the London session (not necessarily on the cable), to entice unsuspecting day-traders to buy or sell almost at the exact high/low of the day (in other words at the worst possible price), and then the real trend begins, the other way of course... And why would any profit taking activity be that sudden anyway, and at almost always the same time period of the day?? "The market is never obvious. It is designed to FOOLmost of the people, most of the time." Legendary trader Jesse...
 
Well,  it's not about time period,  it's all about how price react on that level previously,  market open brings volume, it will have breakouts,  some fake or short term and some follow trend or reverse trend.  
 
In my opinion price level are important,  when price suddenly drop or rise,  u should atleast have an idea when it will stop if u r going to ride it.
  • #448,620
  • Jan 31, 2017 10:38pm Jan 31, 2017 10:38pm
I still prefer a breach of 1.26 before buying a pullback....
Look Sharp/Trade Tight
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