You mean today? Not really, I was watching those levels and as previously said, the setup looked reasonable. I wanted the 1.3585 level to hold to confirm MS, which is why I had my stop quite close to it. If that broke, I would be waiting for another signal for entry Long (the usual, push to form higher high, retrace, buy, push higher again, profit, repeat :))
i am also watching the eur-gbp,
because of all divergence in fiber and cable over the last few weeks.
a weekly and daily chart with SR lines, and a 30 minute,
with a level at 86.10, a bounce there will protect or help the fiber trade
was the item from subscription service PipNRoll, or news site?
these are fun to read, and give some insight into what people consider worthy of news 
Well, finally stopped out on my second Fiber Long
Lesson learnt is - never stand in the way of a thrusting US Bond candle
Lol. Now, it seems more fun doesn’t it? :P. I don’t want to take your “fun” in technical but if you insist here it goes.
Here is the link : BK Asset Management | Kathy Lien, Boris Schlossberg, Managed Forex, Forex News.
I only signed up for e-mail article nothing else. You will enjoy reading them. Kathy Lien is my favorite. I’ve read her books that’s why I found this site. Boris Schlossberg is good to (that’s where I’ve got the news from this morning). They are both good. Enjoy!
Email articles are FREE.
The fibre was sitting at 3570 and had been climbing - I was in revenge mode - wanting to press the buy button for 3600, wanted my 35 pips back, then I looked at the sp500, wall st and us 5yr - all I could see was falling prices, yields - this correlation kept me out, it told me to wise up.
Why not wait!? Let the price go where it needs to go today or atleast when the daily chart close for today. Tomorrow will be different and you will probably see a good set up… let it go…There is nothing you can do today. ECB interest rate is coming up this week. So you can watch out for that too… so many opportunity ahead not just today.
oh, Kathy Lien, i used to watch some of her tv shows.
didn’t know they email stories, that is convenient.
very active person she is!
Yes - I’ll just put it down as a good lesson
speaking of lessons,
i had an unusual trade last friday, a long cable at 5749 when price was in free fall post nfp. Was stopped out, and later went over my posts in this thread to figure out what was the matter at the time. And so realized a couple of things: i was still upset for having missed out on an earlier cable trade and somehow wanted to make up for it. At the time i took the first cable trade on friday, i wrote that i was ‘taking the trade because it was ‘like’ the other trade i had missed’. It was ok trade, closed before news in the plus. However following news, as fiber was up and cable down and move not finished, i opened long again and actually wrote “can’t help it, long 5749”. So this can’t helping it was the problem of an emotional trade.
re-learned lessons being,
First, when a trade is gone, it is gone. We can trade the same level for different reasons, but can never take the same trade ever again, because it simply isn’t the same one. And second, for me at least the more i “feel the need” to do something, the better the chance it’s the wrong thing to do, and i need to stay away from it!
I completly lost control today! 
I over traded, revenge traded, basicly all the newbie mistakes! As a result, I lost 4% in a single day!!
I’m not very happy with myself right now!
same, unfortunately.
Good… then you have the framework to learn from it. If you stop feeling bad about not following your plan… you are in the Point Of No Return and your account will rest in peace.
Log it in your journal… reflect on it. Note the lessons learned and move forward… on reduced Risk.
It’s all part of the process… [B]P[/B]ain-[B]R[/B]eminds-[B]O[/B]urselves-[B]C[/B]ommitment-[B]E[/B]ventually-[B]S[/B]ees-[B]S[/B]uccess… PROCESS.
Keep Rollin’ :57:
Hmm…It seems like I am the only one who didn’t trade today.
I was looking for shorts on Fiber but I missed it. So, I just stay away. The worse is to chase the price in which I have done so many times in the past. No open trade is good too sometimes…
I did not trade today either. But still holding on my cable long from last Friday, 1st target 18 EMA.
Hi PipNRoll, could you explain a little about why you expected a sell off to 1.3500 today? I cant see any reasons… Except maybe the usdx hit resistance at 79.00 and would retrace a little… ?
Anyway, Im hoping to get a entry signal to get long tomorrow at 1.3500 Good luck all!
Thank you very much for your reply and advice Michael! It almost feels like an honor to have you reply to a post of mine!
But I simply feel awful right now… As high on happiness I feel when I have a string of wins, just as low and horrible do I feel right now! I can’t belive I could be so stupid!!
Just this friday and today I’ve lost close to all the profits I’ve gained in the last month and a half So it’s going to take a while to get it all back again!
I guess it’s all part of the long and painful learning process that is forex trading…
On another note though, do you guys still think we are bullish on the fiber? Would you be expecting the low of the week to form tommorrow (tuesday) around London open? Or do you think we are going to be bearish for a while now?
The fall today was being expected - see fxstreet ‘the bulls chilling out’ posted at 11.15 gmt - that article just about sums it up.
Mind you it’s great reading in hindsight, when I traded this morning the ICT video about the little characters all going ‘blah,blah’ was actually ringing in my head, I ignored it along with everything else, everyone seemed to be bullish so I joined in, as I said earlier it was just gambling and I have learned - big time.
From now on, the very first thing, before placing any trades, before even opening a fibre chart I will ask myself a very simple question - is risk on or off today? - that will force me to look at the indicies and the bonds FIRST.
If I cannot answer that question, again without looking at a fibre chart, then no LO trade for me.
Because I am awesome!!! And I have a mirror ball in my hand that I can predict where the price is going. I am saying that in a pretty humble way…haha…just kidding.
If you notice the Daily chart in Fiber, it’s been on the uptrend for the past weeks until it hit the 1.3700’s last Friday. It is just a matter of time to do some retracement to find some support level after that rally. I am not expecting the price will go down to 1.3500 right away today. It could be tomorrow or the next day. I was expecting it to go back up a little bit somewhere in mid 1.3650/60 today (in which what I am waiting on but it didn’t happen) before going down again. However, the news was big enough to take fiber down today and hit the current low of 1.3522. I am thinking it could hit the 1.3490/80 to create a short term support before going long . We shall see how things will played out tomorrow and before the ECB monetary policy meeting this week.
This is only base on my own understanding and my own analysis. We can have various reasons as to why the price the way it is today. Everyone is different …
Hope that helps…Thank you for asking the question
P.S: Going long is probably just my short term trade until the central bank decision this week.
The correlation btw cable and fiber has been weird lately. Seems that EURGBP is driving all the action.