Don't you feel that the daily range in EU is too small in comparison to GU?

Cable Update (GBPUSD)

I have closed short position, but I am not going to take long for now. I feel that GU could drop to 1.3730-40 area before going up again. If GU not goes down, I would lose the opportunity. That is fine for me! Losing an opportunity is better than ...

Cable Update (GBPUSD)

long too soon. The similar mistake I made 2 days ago. GU could go down under 1.3750 and consolidates until NY session starts, or after ADP labor data release.

Cable Update (GBPUSD)

Don't feel frustrated, man, This is the way of forex trading. We have to pay to learn a lesson. If you learn something from your mistake, your lost money will be worth it. If you can not learn something, the lost is forever lost. 2 days ago, I paid ...

Cable Update (GBPUSD)

You are luckier than I am. I shorted too, but the cost is 1.3780! I have a worse patience!

Cable Update (GBPUSD)

short small lot at 1.37806

Cable Update (GBPUSD)

closed long at 1.3779. This is the resistance line. If it retraces down I will re enter long position.

Cable Update (GBPUSD)

I am in long now and I will short above 1.3850. Today is special. It could go up to 1.3850, because UK gdp figure is much better than expected. It is possible to push GU to that level if USD ADP labor number can give another push! Yield starts to ...

Cable Update (GBPUSD)

The yield continues to decline from the top. Dxy lacks the driving force to rise. I expect GU to go up

Cable Update (GBPUSD)

Yield's decline is accelerating. dxy's rise will be limited. see below: url Also the equity market is climbing and almost recovers the lost ground. These developments help the GU's bull.

Cable Update (GBPUSD)

The yields starts to decline. The dxy won't go too far.

Cable Update (GBPUSD)

added long at 1.37147

Cable Update (GBPUSD)

some currencies have very close correlations, such as AUD and NZD, USD and CAD, EUR and GBP. They frequently move in the same direction. The big chunk of dxy is eur, this is true. But eur has a very close correlation with GBP. So dxy can indicate ...

Cable Update (GBPUSD)

My past experience teaches me this: When the market "should" go one direction but actually resists going, it will finally end up going the other direction. This is happening right now. Yields goes up, dxy goes up, eur goes down, the GU "should" goes ...

Cable Update (GBPUSD)

JayBag, thank you very much for the explanation!

Cable Update (GBPUSD)

buy small lot at 1.3750

Cable Update (GBPUSD)

I heard a lot people talking about Spike Lee and Liu. I am new here and am confused by those words. Do you mean something like stop hunting? Thanks!

Cable Update (GBPUSD)

I do know that the big chunk of dxy is eur. GBP is only small piece. Maybe only 20%(?). Although GBP is only small piece of DXY, GBP has some correlation with EUR. So Dxy still can indicate something for GBP direction. A lot of times EUR goes the ...

Cable Update (GBPUSD)

I agree with you that GBP and DXY is poorly correlated. After all, GBP is only small part of DXY components. The big chunk of DXY is EUR. But GBP has some correlation with EUR. That is why DXY can indicate something for GBP to certain degree. The ...

Cable Update (GBPUSD)

I do feel that I entered the short too soon. This is the price I paid to learn the lesson. Thank all those in this thread who help me! I am here to test my strategy. Making mistakes is not a surprise. I do feel that DXY is a very useful tool to ...

Cable Update (GBPUSD)