Dear friends what is going on GBP, last two days something different fluctuation, so can we decide graph break and stat to raise… give us your suggestion too…
Probably an accumulation, causing price to stall, waiting for a trigger to initiate the next distribution phase… Without a volume graph in front of me, I could not tell you more…
Gotcha-
I like the DJ Index b/c it equally weighs out the majors vs. the USD.
Anna Coulling’s Volume price analysis just arrived, fascinating and good reading thanks for the suggestion
Her book is a great primer on the subject.
She edited / published it herself I believe, so at times there are some grammatical errors and sentence structure issues.
Overall, it’s a good read though.
Grammar and such makes little odds to me as long as there is some useful content, to be honest I had not really bothered much with volume due to a misunderstanding that volume might vary between brokers.
[B]Hello Traders!
As it turned out, that third accumulation phase in my chart became quite a bit more extended, and it was nowhere near the end of the Pound sell-off; as I did say, [I]there is not telling what the future holds/I
Here is the updated version of the above price-volume chart, with a fourth accumulation and distribution phase now clearly visible, and a fifth accumulation phase currently in place (unmarked, furthest to the right), as my esteemed colleague Emerald was highlighting in the volume thread here: http://forums.babypips.com/forextown/66260-brief-share-questions-around-volume-any-contribution-welcome-40.html[/B]
It will be interesting to see what the coming week will bring for this pair…
Happy Trading!
She certainly puts that myth to bed. If you use it often like most of us do, entering trades is far easier, exit always requires more planning and is the real meat of trading.
Thanks Emeraldorc, I will spend some time on this ( am slow at seeing how stuff works).
I officially have the ****tiest luck in the world! Before the market closed I had two open positions:
The first was Long on the USD/JPY
The second was Short on the GBP/USD
Guess which one I exited before the market closed!
It’s a over-the-weekend gap, no one expect it.
Who cares?
Is this the last trade you’ll ever make for the rest of your life?
Being emotional like this gets old real quick…
There will be hundreds of more trading opportunities throughout the rest of this month. Why not focus on jumping on the train which has yet to pass, rather than the one which ain’t coming back…
…Jake.
My GBP/USD short, entered just under 1.66, was
just over 450 pips in profit this morning; for the first
time in my short trading life, I have kept a winning
trade run and it has been paying off.
Happy for you bud. :60:
Gp
isn’t it dangerous to hold positions over weekend ?
You feel like a genius when it works :51: ; and an. . .(I’m sure you can figure out yourself when it doesn’t) :17:
My personal opinion is you’re better off in the long run not to unless you’re trading longer terms. I went from closing all trades friday NY close no matter what and looking for trades Monday during the NY London overlap when I was trading on any time chart less than 30 minutes. Now I would still close any open trades on shorter time frames, the only difference is I’m better at knowing when to close any trades I have open way before NY close on Friday and Instead of waiting for Monday NY open, I start looking for trades Sunday night at Sydney open.
Gp
THANK you, GP!!
Have you traded any more Pound?
I agree with GP00053…
I think that, if you have a stop, it should not worry you too much… I have a trailing stop, so even if I got stopped out last weekend, I would have probably gained hundreds of pips… Then I would have just re-entered the trade… No sweat 
Almost every day. It’s my favorite pair.