Hi DD,

Yes, today is the first possible reversal date. Not sure if today can reach 8900, but the top made earlier today doesn't look like the top of ITD7 to me. It's still possible for several more days before reaching ITD 7 (which I am leaning to this at the moment).

Intraday market volatility has been very high lately.

Happy trading.

morning tecky,

just gone long @8672...lets hope for positive GDP news in 25 mins

Thx for reply,yes completly agree with you about current high for the day.
Waiting now for GDP news then hope to get a nice entry point.
Happy trading to you also.

hey there deputy..

something i thought of when you mentioned you would enter long after the drop.This might not apply to you if you only trade with the trend..however this method has proven to be very lucrative for me..


on your trading station draw a line at the highest point of the candle at midnight (5am UK time)..then wait until 0200 (7am UK time) and draw a line at the low of the 0159 candle (0659 am UK time)..

when a candle pierces either line trade that direction...your SL is closing candle at the top of the candle that you have traded on. Of course many times you might get hit out and loose..but that is all part of it..if this method is played correctly over long term you wont loose..but you HAVE to close when needed!!

if you go to your platform and draw those lines as above for today..you will see where i entered..@1.8740..each day give different amounts of available profit depending on where nearest support or ressistance lines are found.

i.e today..any where between 8650/8680 would have found a base(for this trade)
i shorted 200k @8740 ..then closed 100k@8680 and the clsoed 100k @ 8670

so before the day has got going you have already made..then i found the rest of day becomes alot easier..not chasing your a$$ intraday is always good lol

give it a test for a few days if you like.but if traded with discipline you wont loose long term

looks like 550 is on atleast?

looking to add @540/560 level.. already had aprox 210 pips MA..only way to go is up...
could be a big bounce!!

some of my SL taken out on way down...shorted on way through 8630 closed @570

Looks like another frustrating day..

Good morning all i hope u get some greens yesterday?
GU just form a daily low 1.8572, so i think is best time to start placing ur long.

Hi Newb, I use as one of my filters on H1 and H4 a simple and a bit crude method.
I take the close od the US session and drow two lines, +20pps, and -20pps, I call this a war zone and the break above or below this zone often is more meaningful, especially if travelling in delta direction. I also use IB at 6.00 am London time and go in the direction of a daily trend.

Thx for the info FX Newb will look into it later on, am still looking for a nice point to get in (maybe )
I have read a lot of people don't like to hold trades open over the weekend due to risk,anybody have any thoughts whether it's even more of a risk when there's a bank holiday following the weekend as we have here on Monday.

hello all

wat thots on cable today. are we all going to get stopped out on the longs??

does any one feel if today we see below 8540, tats the end for the longs?

If 8510 breaks, the likelihood is that ITD 7 is in today with Delta high at 8800... a lot lower than most people project. At the moment, I would try to go flat and wait and see the market a bit.

Blimey, thats some correction!

Would feel a lot happier if we close this hour out with something above 1.8607 (bullish engulfing candle if my memory serves me right) as my studies are in o/s land. The hourly stochastics did not makenew lows with the price action indicating that this downswing may be at an end.

Certainly interesting times ahead.

Good luck everyone

GBP will collapse today? Quite possible.

I am very frustrated by the lack of discipline. I just didn't stick onto my longs.

Congratulation to those who made good pips whith their longs.

yes this capitulation of gbp is unbelievable to me. i think the only way i can be in this game going forward is to bring in new capital or exit.

dont wish to give you false hope..but the trend line from the 511 is where price is currently stalling..a sustained break below there then im sure a new low will form..but keep an eye on current price if that goes then the capitulation is well on its way..IMO

good luck!