Trade the price action, not the cash!!!
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DislikedIf Cable breaks 1.6133 and the intraday trend begins to form on the 15min chart, then a short may be viable depending on PA of course and if it breaks lower lows. We will see................
Also EU is looking good for a buy, but for me it must break above 13660 to be viable. Good luck with your trading.
Just my opinion.Ignored
DislikedThey look like my daily fib pivpoints.
By the way: I would not recommend to trade just before London open!!! That trade was a loser, becuase London opened half an hour later. My am not trying to find a reason for a loss as to seem like I know why it went that way: I have my personal rule not tu trade before L open. Let it open. Let the trend show itself, let it develop, then look for a trade.
http://www.forexmarkethours.com/ I am pretty sure you know that page, select your Time ZoneIgnored
Dislikedhttp://www.forexfactory.com/showpost...&postcount=772
This one.
On Hourly chart or M5 squeezed it looks like it can bounce (both EU and GU), so, no downtrend for me yet!Ignored
DislikedYes, I wait now for London to settle but still not sure which way to go, only looking at Cable & EUIgnored
DislikedCable shorts are the only way valid for me at the moment, but because the low has formed right near yesterdays lows i wont be going near it. The probability of it bouncing is reasonably med/high. It is also right near support, so be careful of entering Cable shorts at this particular low.
I will enter short EU when/if it reaches 3587-ish depending on PA near that level, targeting 3575-ish, but trailing SL to maximize the trade. We will see what happens............Ignored
Disliked...as pivots have been mentioned and Cubby has decided to take a backseat, in my opinion as a daytrader, ignore them at your peril...the big dogs use 'em.
This is probably the best active pivot thread on FF:
http://www.forexfactory.com/showthread.php?t=98028Ignored
DislikedI have read the entire thread so I totally understand the system. However my first three trades on this system have all been losses!
All GBPUSD on 5m/15m
Trade 1: 16:35 7th Feb Long 1.6127 SL 1.6100 TP 1.6141
Trade 2: 17:15 7th Feb Short 1.6102 SL 1.6119 TP 1.6093
Trade 3: 07:25 8th Feb Long 1.6162 SL 1.6139 TP 1.6173
All set ups fitted the rules as far as I can tell. Any thoughts as I find it odd i've beaten Cubby's losing streak of 2 trades in one go!?
Trade 2 was very close.Ignored