Weekly Discussion [Week of January 13 - 19, 2019]

Same. Too unpredictable.

Yes, I think a fair few! Hopefully plenty of traders made nice profits this day.

I’m watching still. It seems too quiet. Perhaps I will wait till Monday and review it, I’m looking for more confirmations at the moment.

To be honest, I hate the cable or any sterling pair just now unless there’s strong upcoming news.

It (for me) has a tendency to surprise me, but when there’s news I’ll trade it. The BIG moves tend to be negative so it’s mostly predictable especially if there’s strong resistance a reasonable distance away for a bounce and reverse position.

Love it when I get that :grin:

Just reviewing this set-up. Could be a good trade now for next week, maybe shift this topic to the new weekly discussion on Monday? I’m eyeing the lower support channel for a solid support to go long with areas 1 and 2 of interest, possibly with a break downwards alternate short possibility.

Here’s a quick chart:

Good call on watching EURUSD support around 1.1330. Price has bounced quite a few times there in the last 6 months.

I like everyone’s comments on Cable. I’ve been burned quite a few times by this pair and not always by news. Still, the absolute worst is when anyone says ‘Brexit’.
I feel like I am living inside the movie “Monty Python and the Holy Grail” and my account is under constant seige by “The Knights Who Say ‘Brexit’”! (they recently said ‘Ni!’) :smiley:

My trading is 99% automated, so news can be difficult. Scheduled news can be avoided. So, here’s hoping for no surprise news this week! Cheers!

Still quiet today. Any setups you’re looking at for this week ahead?

Ah yes they do have a new topic now. Following this one! Might go long also.

Yes, going long on EURUSD now, still working on my setups, going long on a non technical, news based trade on favourable (long) GBPUSD setup based on the idea that a new UK referendum is now more likely. Also bearish on USD in general because of impasse of US gov shutdown. I read one of Trumps books and based on personality reflected in his writings I believe he will be so stubborn that the US government closure will roll on for months, if not longer.