ok, i will set that up ASAP. I am looking at my chart and im thinking of going short at ~1.6200? any thoughts?
Yes I am Watching that area as well want to see how it holds when tested. Will look at the charts when I get home.
Hey TWHM, I am glancing at the charts and I see possibility of continuation to 1.6290-1.6300 before selling.
Continuing to trade off this daily setup that gave us a great buy today. Next level should buying continue 1.6300-1.6340 going into tomorrow. This week could see us reaching the 1.6450-1.6480 levels. Will keep buying dips and long setups until the trend says otherwise.
Lots of big moves last night, including on this pair, was also looking at a few others (eg. SGD/USD) and they suddenly jumped in the opposite direction, too - I have only just logged in, so might be missing something obvious, but does anyone know of a particular reason? I imagine that the Cable move hit a lot of Stops.
ST
hi guys,
I’m at work atm, i set a trade to go short at 1.6200 last night and from the news i can see that it didnt hit that high yet today. i also set a buy at ~1.659 and i can see that it may have gone down that far (really bad charts). again, i wont know fully until i get home tonight and check but i will let you guys know. really hope i havent blown yesterdays profits.
GM TWHM, just got up and saw that I missed all the action. Set an entry sell order at 1.6190 yesterday and then removed it. ARRRGGHH! Nevertheless, would have been a great trade had you been filled. I think you may be saying you have an entry order buy at 1.6059? Correct? Well that level was blown through like butter. I believe GU is after 1.5850 -1.5780. Thats where I am looking to do any buying.
Indeed ST, the market has a mind of its own.
i had to re-read everything about 5 times then, but no, i meant a buy order at 1.59. my bad.
Cool watch the 1.5850 level.
Yes, it is the kind of day that can shake the confidence of new traders, as they don’t have a history of good results to provide reassurance. I know a few traders who took the CAD short on the 240, were pipped in and then it shot straight through their Stop. It happens, but not fun when it does it on most pairs in one day!
Truth be told Simon Templar, this market shakes the confidence of all traders, both newbie and oldie, at various points. Most important is to manage our trades with proper stops.
True enough - I lost three trades, 1% each. Had I been one of these who puts 5% behind a trade that could have made for a painful day, whereas as it stands one decent trade will offset my three losers. Still up on the month, that is what counts.
For sure…lower risk = easier and quicker recovery from losses=Protected profits.
supermegaunhappyface
got an email confirmation. i messed up last night. i put a short trade at ~1.59. it was supposed to be a long 
looking at the rate now, ive made some negativepips…
Hi TWHM,
Dont understand, are u talking about the GBP/USD? We havent reached that price yet.
just got home, not sure what happened tbh. closed a position with a -4 loss as im not sure which way it was…
anyway, time to figure out what the hell im supposed to be doing now.
Haha, take it easy it happens. Relaxing now and doing some analysis later would be a good start. I have two shorts running on GU now with a counter short setup on the H4 chart making me feel uncomfortable. So it is better to be out looking in and in wishing you were out. Next Trade!
GM all, still in my GU shorts let’s see how well they hold up under the heat :). Will be away from charts until next week. Happy Trading!
GU Shorts fitting much more comfortably now. Cant see my chart to tell whats going on around 1.6000-1.5990. Holding these shorts for 1.5850.