EUR/GBP

If you put the 50,100,250 daily MA weighted it helps to make better decisions when bulls are likely to come in ,drill down from weekly,daily,4hr,1hr.

snapdragon1970 posted:
If you put the 50,100,250 daily MA weighted it helps to make better decisions when bulls are likely to come in ,drill down from weekly,daily,4hr,1hr.

That's a good idea, I'll do that.

ECB speech later,sometimes this is a bullish play ,close out just before to avoid whipsaws.

The short term rally is going to find strong resistance at 0.8871 (the 55-day MA) and next hurdle comes to 0.8933.

Nothing to push it up that far yet @the_who.

sometimes that's the way it is until someone says something dumb like 'exit means exit',mostly random moves for now.

Yes, it looks like range will keep going until Draghi's press-conference tomorrow. Do you think they'll change the rate?

Always important to watch the chart at certain times during the day for changes ,open,11am,13.30,15.00,15.30-15.45,16.30,19.00,22.00.
It's doubtful the rate will be changed until 2018 at the earliest, more likely it will be 2019 after Draghi leaves.

Theresa May was defeated in the vote 309-305 law makers will have the final say on exit plans.

Here comes the volatility. Hold on to your hats!!

BOE results as expected bullish bar on EUR,next up EU data.

Moving on to phase 2 of Brexit ,64 pipis so far on yesterdays Long.

I think it will drop to 0.8700 next week but I didn't short over the weekend.

Good think I did not short last week, I would have been at a loss now.

Ah your getting wise,always safer to close out on a Friday unless you have a great position ,no trades on E/GBP yet although its trying to break 88200,need to see support there before I'd go Long.

I never hold over the weekend. It's a completely unnecessary risk

Hildur posted:
I never hold over the weekend. It's a completely unnecessary risk

Sometimes its worth it if you have a great entry point and enough margin for error.

snapdragon1970 posted:
Ah your getting wise,always safer to close out on a Friday unless you have a great position ,no trades on E/GBP yet although its trying to break 88200,need to see support there before I'd go Long.

I don't know about wise, I've just been burned too many times so I've learned some basic things at least. :D

With Forex most I'd hold is over night,Stocks I would hold over longer periods,everyone gets burnt a some point as long as its not to painful,learning to stay out of certain trades is just as important as knowing when to trade.