Kaisen,
She is fine, next to me in her bed! I thing a big move is due soon, ranges are getting tighter, look at daily charts and see how small they are getting. I am staying on the sidelines only looking for solid entires.
What are your thoughts?
Looks like this is one of those "buy the dips" days. Still long from 4922 target 4983.
What's your stop loss and trade size? I am £2 per contract.
My major thought is i am sick of trading with a bias rather than what i am seeing! Also how difficult it is to gauge when sentiment will change.
Sometimes the market reacts to the dollar and oil prices go up taking the market up. Then when the dollar strengthens the oil price either comes down but the market doesnt, or the oil price doesnt come down because of "future" expected demand! And then later the price comes down once sentiment changes etc etc
This all points to the need for confirmation! But often when you have "confirmation" the major move is over or starts to retrace!
Not easy at the moment.
Trending not good - hopefully it is because it is the summer months and will improve in September. US manipilation also difficult to factor in.
Difficult.
So, i am currently studying stochastic and then i will be looking at elliot waves. Hopefully this will help.
I am aware of stochastics dont get me wrong, but i will only be using them for highlighting divergences and not buy/sell signals as they often can be overbought/oversold.
I have been reading about stochs and divergence this morning which has answered why i have been having poor results using it so far.
I use key stocks as indicators along with s/r levels, geo trend lines and chart patterns and other info.
Just need to work on my......timing!
Think we are headed to retest 4900 right now and then, poss sell of if investors start getting jumping given oil price drop and gbp drop but likley to range between now and 1.30pm US data.
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I'm fed up with knocking indicators, I'm beginning to think that I'm a miserable, old, git!
I just thought that I'd pass over this link to BSD's post. He skylarks a lot, with his girlie pictures and stories. but you have to pick his posts when he is in a serious mood. If you liked that, you'll have to search for more and read the first few, too.
It's post 1037 on this page
http://www.trade2win.com/boards/forex-strategies-systems/60972-gbp-usd-analysis-130.html
I mean £2 per point
btw guys, yesterday's close was 4916 right?
Short AUD/USD @ 0.8367 - SL @ 0.8391 - sorry, should have posted earlier![]()
Oh Geo!!.... LOL
You trade gbp/€?
papak, do you mind if I ask how much have you staked per point? I seriously am uncomfortable with the minimum £2 per point by IG and I am stuck with IG cause it is the only approved broker for my employer. I just want to gauge, that you guys are way bigger players than me.![]()
Hehe
No, I'm not a fan of eur/gbp right now Kaisen, I have traded it, but stopped because the range is small and price is messy - The Lapster gets on well with it though.