GBP/USD

[caribean]

Juicy looking reversal, we'll see how it pans out

 

[Tradesurfer]

still holding the original short off the gravestone doji weekly candle chart. Shorted at about $1.67. I've got my buy stop at break even. No predictions as I simply read and react using technicals. Best case- the pair trends down for a bit. I may lower by buy stop after the break of the 1.60 level but haven't decided yet. My initial stop was top of the candle high of about $1.70. Too bad negative roll on this pair from the short side. Good luck everyone.

 

[caribean]

still holding the original short off the gravestone doji weekly candle chart. Shorted at about $1.67. I've got my buy stop at break even. No predictions as I simply read and react using technicals. Best case- the pair trends down for a bit. I may lower by buy stop after the break of the 1.60 level but haven't decided yet. My initial stop was top of the candle high of about $1.70. Too bad negative roll on this pair from the short side. Good luck everyone.

I find it impossible to hold a position that long, good luck to you.
I'm interested in the 1.5860ish level, you could say it is a bit over extended right now, but the sellers are only looking for any excuse to short this thing..can't argue with that, still, i will be looking for the retrace long, soon.

 

[Kryzz]

I find it impossible to hold a position that long, good luck to you.
I'm interested in the 1.5860ish level, you could say it is a bit over extended right now, but the sellers are only looking for any excuse to short this thing..can't argue with that, still, i will be looking for the retrace long, soon.

A retracement back around .6111 roughly would be interesting to see i reckon, hopefully good for shorts, or maybe see how this triangle holds up maybe? still questioning y i didnt go short when it smashed the most recent support.

 

[Wysiwyg]

A retracement back around .6111 roughly would be interesting to see i reckon, hopefully good for shorts, or maybe see how this triangle holds up maybe? still questioning y i didnt go short when it smashed the most recent support.

My big losses have come from a desire to be right.
The more I was determined to be right, the bigger the loss became. Damn hard to break that thinking even after becoming aware of it.

 

[Kryzz]

My big losses have come from a desire to be right.
The more I was determined to be right, the bigger the loss became. Damn hard to break that thinking even after becoming aware of it.

Yeah i know winning % doesn't add to expectancy, i still wana try and take as many setups as i can because i know the day i miss one, will be the runner I was after. (and yes i know there will be more so im not worried). I think i've interpreted your post correctly?


cheers

 

[caribean]

After a while (few years in my case) you can sense a good run is coming,
you can see it from the market behaving in a disorderly fashion, (and i don't mean just range bound),as if the commercial players are not participating? usually around future contract rollover, important, direction changing news expected, etc.
The thing is, in most cases TA shows me the most likely direction and even though most times there's two possible scenarios at play, it all becomes apparent in good time in the fast TF's, only problem, the window of opportunity is usually very small, and if entry is not executed right on cue, or on the re-test which happens very often (best way to shake out the weak ones), then R:R is out the window.

 

[i_in]

I see the perfect ratio here and added one more another long
GL/GT

 

[i_in]

why so quiet today in the themes of trade?! holidays or just missing of concept
hey, cashflow_08 I hope that everything with your short was successful and you are in the right direction already, well done again
gl&gt

 

[Kryzz]

got a short order in at the moment, testing some minor resistance on the hr chart, retraced 50% of the latest swing down too.

thinking bout cancelling it though, seems a little early still, not too many red candles atm also

 

[cashflow_08]

Hi
Just a start of a volcano spill. (mayb)
A retest of the daily resistance is being observed here and if the retest and bounce goes well, we could enter short depending on your risk and analysis. I hold no responsibility.

For now i cant project how much down it can do. Probably fibs can help or trailing stop.

Cheers

 

[caribean]

got a short order in at the moment, testing some minor resistance on the hr chart, retraced 50% of the latest swing down too.

thinking bout cancelling it though, seems a little early still, not too many red candles atm also

Hey Shaun, great S/R you have there, it broke through but it may come back and test it as a support for further long?
Ihave no idea really.
We'll find out soon enough, good luck.

 

[cashflow_08]

We had a great week last week. Almost magical? But we had a few spikes here and there, if you were alert of news than you would of waiting like me. Patience is the key. Have a check list. tik tik tik trade

Below is a basic chart of last week and who knoes where the market is heading now. A bounce of the recent tL? or a break? No one knows, only have to wait n see and if the check list is valid than proceed if not, patience.

Best regards,

 

[Mr J]

"Wait and see" applies to everything for me at the moment. Everything looks good for a reversal or retracement.

 

[caribean]

A retracement back around .6111 roughly would be interesting to see i reckon, hopefully good for shorts, or maybe see how this triangle holds up maybe? still questioning y i didnt go short when it smashed the most recent support.

My favorite scenario was a short at this 1.6111ish level, however i did not believe it will be a simple touch and reverse affair, i might be proved wrong.

 

[Kryzz]

My favorite scenario was a short at this 1.6111ish level, however i did not believe it will be a simple touch and reverse affair, i might be proved wrong.

touch and reverse it is , are you still holding your short caribean?
I wasn't at home to take that trade unfortunately (again), dropped >130 pips after reaching that level, still falling as I type.

Sidenote: Do you just trade the cable, or other pairs also? I've been switching between the euro, yen, cable and aud, and have suffered a string of losses lately, i think because i have not been focusing on how the one pair 'moves', just a thought

 

[caribean]

touch and reverse it is , are you still holding your short caribean?
I wasn't at home to take that trade unfortunately (again), dropped >130 pips after reaching that level, still falling as I type.

Sidenote: Do you just trade the cable, or other pairs also? I've been switching between the euro, yen, cable and aud, and have suffered a string of losses lately, i think because i have not been focusing on how the one pair 'moves', just a thought

I missed the opportunity to enter on my "trial" Gomarkets account, but no problem another will become available soon enough.
Yes i mainly trade the Pound, for the simple reason that i have quite a few TF's displayed, and it requires a lot of concentration to trade the way i do.
Besides that, i do not like trading till late in the night, so some times i exit prematurely.

 

[Kryzz]

Looking to see if price can move to .6111 again, lets see if it can't make a new higher high and go for a run, in the interim looking for a mini breakout of this little wedge, decided im going to try and focus primarily on one to two pairs

 

[white_goodman]

heres my thoughts on the matter...

 

[Mr J]

Sidenote: Do you just trade the cable, or other pairs also? I've been switching between the euro, yen, cable and aud, and have suffered a string of losses lately, i think because i have not been focusing on how the one pair 'moves', just a thought

If you use various methods of trading, it may be that you're trying to apply too much to too many markets, rather than focusing on the behaviour of a specific market. I don't think you need to focus on a specific pair to be successful at it, but I suppose it depends on the strategies being used.