Forex trading live calls and set ups

[gedward3]

Did some news break? Quick drop on GBPUSD

The Goverment meeting at Mansion house about the FSA and what they are
going to do with it. Also a little news about the new budget next week.

Ged

 

[Lord Flasheart]

Did some news break? Quick drop on GBPUSD

no news guys. Jpy or euro didnt move,yet the £ did,hence the so did the eur/gbp.
I suppose someones going to say im mad by saying the pattern break moved the market. Look at 1/5/60 min charts and you will see what I mean. How can that be.I dont know but it happens far too often to be coincidence. anyone care to comment.

Happy days

 

[Lord Flasheart]

Yeah, I admire your ability to trade manually like that. It can be frustrating to miss out with orders. But there was a time when I entered manually and I found it made me more prone to chase things, and often cost those few pips on entry (quite crucial if you're looking for 10/20/30 pip winners) which then made me unhappy that I'd chased it, which then made me annoyed with myself and affected the trade. Plus it is easier to get 'caught up' in the market swings, and enter when your edge is not present. Placing an order forces me to think carefully where I really want to be entering.

Maybe one day I'll be entering manually, but for now, I place orders.

What you say is very valid.I dont have a problem by chasing a move once its gone,I normally give up only to see it go another 50 pips. So in that case placing an order would probably seen me a sensible idea. Maybe I could do 1/2 order 1/2 manual,not as stupid as it sounds

 

[leovirgo]

1/2 off at +23 happy days
rest to b/e

you still riding EG? it shot up nicely :clap:

 

[leovirgo]

The Goverment meeting at Mansion house about the FSA and what they are
going to do with it. Also a little news about the new budget next week.

Ged

it's not a 'surprise'. wires have already written about it. 'King' is taking over FSA. anyway, here is the details.
http://uk.reuters.com/article/idUKTRE65E6LQ20100616

HAIL THE KING

 

[gedward3]

no news guys. Jpy or euro didnt move,yet the £ did,hence the so did the eur/gbp.
I suppose someones going to say im mad by saying the pattern break moved the market. Look at 1/5/60 min charts and you will see what I mean. How can that be.I dont know but it happens far too often to be coincidence. anyone care to comment.

Happy days

Flash it was to do with the Goverment getting rid of the FSA completely
so the BOE can govern again. Maybe nerves of a new regulatory regime
in place caused the GBP drop and made investors jittery.

http://www.telegraph.co.uk/finance/...rves-up-another-twist-in-regulatory-tale.html

 

[Lord Flasheart]

you still riding EG? it shot up nicely :clap:

yep getting a good ride on this one.Leo do you believe the pattern moved the market or some news. Look at the facts
1) only £ fell against $, how often does that happen
2) There was a 10 pip spike down(clearout) just before the upmove
3) It had to break as price action was so tight
4)So your still not convinced. Look closely at the wedge I posted and see that it had been broken before the news came out

so what came first the pattern or the news?

 

[Lord Flasheart]

Flash it was to do with the Goverment getting rid of the FSA completely
so the BOE can govern again. Maybe nerves of a new regulatory regime
in place caused the GBP drop and made investors jittery.

http://www.telegraph.co.uk/finance/...rves-up-another-twist-in-regulatory-tale.html

its only moved 40 pips,has to be the pattern

 

[gedward3]

its only moved 40 pips,has to be the pattern

I think the patterns form on anticipation of most types of news and
the break occurs when the news is absorbed by the market and not
necessarily when the news is released. But yeah ive seen this loads
of times on when news is waiting to come out.

By the way guys im in and out of home all day that why i cant post but i follow
this thread every day to see whats been happening.

Im starting to watch your pattern trading Flash and its how i started out
but left it behind a while ago and am now trying to incorporate it back into
my trading plan.

Keep it up guys.

Ged

 

[Lord Flasheart]

moved stop to +17,will leave rest onernight and hope for lots more leaves me with a nice little profit for the day

 

[be-positive]

goodmorning fwiw gpb/usd looking short waiting for signal all the best to everyone today

 

[Lord Flasheart]

morning all,gbp usd looking short,major breaks have happened
Short eur 12274 sl 10
still long eur/gbp
hoping for a good run

 

[Lord Flasheart]

my eur/gbp trade has stopped out for +25
shame had better hopes for that may re enter

 

[Lord Flasheart]

morning all,gbp usd looking short,major breaks have happened
Short eur 12274 sl 10
still long eur/gbp
hoping for a good run

stop moved to 1.2288, to cover the line

 

[Lord Flasheart]

im worried i have put the lines in the wrong place and they may not have been broken.lets see

 

[be-positive]

short gbp/usd @ 99 stop 119 trg +20


^^^^^^^^^^^ 4699 and 4719 ^^^^^^^^^

 

[Lord Flasheart]

BP if it goes the 20 im sure we will be in for a good ride

 

[be-positive]

stop moved into 713
time for a cuppa

 

[Lord Flasheart]

stop moved into 713
time for a cuppa

A cuppa,thats a bit weak for you isnt it

 

[Alexbabwa]

short cable 67 clear break of the 680 support and elliot wave number 4