Hello everybody,
does anybody know what the reason was for the sharp “up-move” of
GBP/CHF today around 19:40 GMT? I lost all my "no deposit bonus"
because i went in short the GBP immedeatly when the price was up 40 Bips
(hoped make a lot of money when the price cames back)
Word of advice…
do not HOPE in forex
Calculations Get your further than Hope
i don’t trade GBP/CHF but…
is this what you are talking about
that 160 pip rise
i’ve just done a quick mock up chart FYI.
my first question would be
WHY WOULD YOU EVEN BE SELLING AT THE BOTTOM OF THIS
let me explain what i mean… ok
this is an M30 chart and let’s keep it that way but let’s zoom out for a second
and i’ll remove the lavender rectangle
look at this…
so… if you know that there was a massive drop in price like that (290 pips approx)
why did you expect it to go lower
now look at what happened after that,
it was basically ranging
i don’t trade this instrument and i can see that
so… if i was looking at before the rally up, i would have said to myself, … this thing is due for a rally up.
i would have never Sold this, if anything i’d be EXPECTING IT TO GO ON A RALLY
now just in case you have ANY DOUBTS or debates
and you might feel the need to say something like
Martin, but it’s not ranging it went up and down hehe
ok… LET’S ZOOM IN A BIT MORE CLOSER TO THE EVENT OK and prior to it
look at this…
now. PRIOR TO THIS HAPPENING you were past the first yellow Vertical Line… right ?
and it was going down, and … ok, i get it, you figured it was moving down,
i guess this comes down to experience
but, IN MY EYES, i would never have entered this short, i’d look at it as suicide
i would have waited for it to go as low as it wants and i would have obtained a low entry TO BUY
CAN YOU SEE that if YOU ENTERED A SELL RIGHT AT THE TOP OF where the first yellow line is
Can you see that if you held that trade, until the top of the second yellow line
CAN YOU SEE HOW PRICE CANCELS OUT
well,that’s what the markets do, they work in cycles
hence that red line that joins the two tops
so… to answer your question
DO I KNOW WHAT HAPPENED
well, i was not watching the calenders for this pair
but i can very simply say as if the rule of thumb like… the market is like a rubber band
in my opinion this was obvious a hell
the market spiked up suddenly because that initial rally down was a profit exercise to accumulate funds so that they could finance the move up
YOU GOT CAUGHT IN THE ACCUMULATE PROCESS, simple as that
it went back up to consolidate the previous price,
that’s why it spiked up… Simple
Learn to keep an eye out for these cycles, it’ll help you… trust me
This move is evident across all GBP pairs. I suspect the tumble was due to more Brexit bad news, with the resulting rally having already been explained by @anon81929759.
Chasing the market is a good way to get burned. By the time you can see, decide, and act on the movement, the big players are already getting out. You arrive just in time to get stuck holding the bag.
Thanks for the really good analysis, but i am more a gangster than you would
think…
As i am outdoor until tomorrow noon i will give you afternoon a better report with some pics what really happened to my positions, it was a little bit different:
I did daytrading several forex pairs (with success) that day untill suddenly the upmove banged on the screen-i went short AFTER 50 bips up because i asumed the price will come down 10 or more bips because such sudden moves very often correct in the other direction before they keep on dashing…but more tomorrow!!
LOL A Gangsta HUH
SO…
GET RICH IN FOREX OR DIE TRYIN’ huh
and your street name would be… Fiddy Pip
Yo fiddy , waddup, What be your predictions for today… Buy or Sell ?
LMFAO
Welcome back-so when you ask me if the price goes up or down i say:
UP AND DOWN!!
Last week i started seriously daytrading with a special system,which i found out the days before last week by observing correlations between some indicators and the price.So i wanted to test it in practise and took time the whole day for daytrading and planned not to leave the house…
The strategy was sitting infront of the lappi,scanning one forex pair after the other with low spreads, and scann the pairs again,and again… finger on the mousetrigger,and wait for the signal (visual like an eagle,only long, so i think i am an “eagle-trader” ha ha ha ) than dashing in when the signal occurs, and closing the trade very soon)-and i was realy surprised of the results, one day i made over 200 Bucks, the other over 400 (i have it on the pics,but i am only allowed to load up one pic,so i loaded up the day with the pound-bang)
.And thats the same i did during the day with the (i call it “snipershot against me” ha,ha!
So my trading that day (especially my closed pound/Swiss positions was again good money), you see it here:
But beside the “snipershot” on me,i would say that my record as a beginner is quite sufficient- i think a street with my name comes nearer and nearer!
What the dickens is this man on …?
Gangster Profits there my friend…
Keep it up. 
Get a different broker !
You’re getting away fairly cheap - Stuff em !
