Forex Factory (https://www.forexfactory.com/)
-   Interactive Trading (https://www.forexfactory.com/forum/137-interactive-trading)
-   -   Cable Update (GBPUSD) (https://www.forexfactory.com/thread/10378-cable-update-gbpusd)

m_j_1984 May 9, 2007 10:23am | Post# 12381

thanks leelee75k.

leelee75k May 9, 2007 10:25am | Post# 12382

Cesar left????!!!!!!

huh, wha did I miss? why???

Cesar get back in here now!!!!!!!

m_j_1984 May 9, 2007 10:35am | Post# 12383

Why Cesar left ????!!!!!!

verno May 9, 2007 10:39am | Post# 12384

1 Attachment(s)
Hello all,

I am new to this forum but have been known to post on others, its just that there don't seem to be that many cable people on other forums.

I took a small long today (but am out now) for the following reasons:

1. Daily trend is up
2. I think that the correction sideways could be done. As shown by the abc on a 2 hourly chart.
3. I think we printed a (i) and (ii) but I was looking for some kind of confirmation, which I got when we broke out of the flag / parallel lines.

I think the green line on the chart is now pretty key and will probably only play it from the long side in the near term.

Verno
Click to Enlarge

Name: GBP090507.jpg
Size: 58 KB

benssol May 9, 2007 10:51am | Post# 12385

thanks leelee75k.
what a beautiful avatar!!

I remember I saw this girl in a movie, is that right?!

goonergonebad May 9, 2007 11:06am | Post# 12386

Hello all,

I am new to this forum but have been known to post on others, its just that there don't seem to be that many cable people on other forums.

I took a small long today (but am out now) for the following reasons:

1. Daily trend is up
2. I think that the correction sideways could be done. As shown by the abc on a 2 hourly chart.
3. I think we printed a (i) and (ii) but I was looking for some kind of confirmation, which I got when we broke out of the flag / parallel lines.

I think the green line on the chart is now pretty key and will probably only play it from the long side in the near term.

Verno
Hi Verno,

Welcome to the thread.

Just to confirm, does your last sentece mean that you intend to trade bullish in the near term?

Also, if Cesarnc is viewing (probably sighing with disbelief at mine and others posts), then please come back, the thread needs your guidance. Try to ignore our immaturity and help us to learn to contribute more.

m_j_1984 May 9, 2007 11:09am | Post# 12387

what a beautiful avatar!!

I remember I saw this girl in a movie, is that right?!

yea. Shi is Hillary Duff.

Islander May 9, 2007 11:16am | Post# 12388

A KISS 5 min chart
 
1 Attachment(s)
First let me agree with many of the earlier comments about the unsupported opinions that have started clogging up this thread. Without any supporting work to show the reasoning they are totally usless and may negatively influence inexperienced traders. They can also cause experienced traders to leave the thread as has just happened.

Ive just read RJFs post on a moving average cross over system and decided to post a chart of a simpler way that I find useful of viewing short term charts.

I view Price in relation to two EMAs rather than looking for the cross over of MAs - this helps to eliminate lag and makes for a clear picture - IMO.

The Agua lines are a 34 ema in the center with an 0.11% envelope. Price tends to react around this envelope.

The green line is a 200 ema with dashed +/- 40, 80 and 120 bands - these are where price often stalls.

The Stochastic is for high-lighting divergence and also a reminder to only Sell when its >80 or Buy when <20

When the Agua lines are sloping UP its OK to Buy and when sloping Down, to Sell.

For more info, send me a PM
Click to Enlarge

Name: cable 5m may 9 10am.jpg
Size: 44 KB

el_duende May 9, 2007 11:28am | Post# 12389

I agree bit more explanation when posting what you believe cable will do next would be helpful.

What experienced traders have left?

enoc2g May 9, 2007 11:37am | Post# 12390

regarding expection
 
regardless of anything you should continously apply and exploit your edge and stay focused within the opportunity flow like Mark Douglas talks about, dont focus on where price will or will not go,(dont project your expection onto the market) remain nuetral predefine your risk, and dont focus on past losses each opportunity is unique and different from the last, be rigid with your rules but flexible with what the market can do, embrace uncertaintity anything can happen at any time regardless of fundamentals, if enough traders wish it so, all it takes is one trader to tip the scales...

m_j_1984 May 9, 2007 11:37am | Post# 12391

I agree bit more explanation when posting what you believe cable will do next would be helpful.

What experienced traders have left?
Cesarnc left this thread.

enoc2g May 9, 2007 11:44am | Post# 12392

For those of you who havent read trading in the zone yet, a really good case in point is the tech analyst who gets called into the big traders office when the analyst says the market cant go any lower because its at support the trader owner says oh yeah? he calls in an order to sell and the market drop right thru it leaving the analyst feeling very stupid... excellent story.

m_j_1984 May 9, 2007 11:59am | Post# 12393

Trading in the zone
 
For those of you who havent read trading in the zone yet, a really good case in point is the tech analyst who gets called into the big traders office when the analyst says the market cant go any lower because its at support the trader owner says oh yeah? he calls in an order to sell and the market drop right thru it leaving the analyst feeling very stupid... excellent story.
I just started reading trading In the Zone by mark Douglas. i had finished reading first two chapters(because i read it carefully) and i think it will change any kind of mind into a good trader mind.:

enoc2g May 9, 2007 12:03pm | Post# 12394

wait till you read it again, its like reading it from scratch all new insights flood in each time...

NMike May 9, 2007 12:07pm | Post# 12395

Hmm, d&u

verno May 9, 2007 12:09pm | Post# 12396

Hi Verno,

Welcome to the thread.

Just to confirm, does your last sentece mean that you intend to trade bullish in the near term?

Also, if Cesarnc is viewing (probably sighing with disbelief at mine and others posts), then please come back, the thread needs your guidance. Try to ignore our immaturity and help us to learn to contribute more.
I intend to trade from the long side unless the market gets below about 1.9920 at which point I will be unsure.

Thinking of a long circa 1.9940 if it gets there.

el_duende May 9, 2007 12:11pm | Post# 12397

http://i165.photobucket.com/albums/u...lipboard01.jpg

On a trend point of view....

From the simple chart above we can see that since 18th April we have had a down trend. It has been quite good in fitting into these trend lines ive drawn. If for this downtrend to finish we would need $2 to breach first (suspect resistance at this point to be quite big) and to confirm end of trend 2.0070 to breach in my view.

Now I also use bollinger bands, RSI and look for divergence signals to help (looking on 30 min chart) At 2.30 PM (shows as 3.30 on chart for some reason) we had a divergence signal and price was at top of bollinger band. Also RSI above 70 maybe signalling overbought. Coupled with the big $2 area looked like a good sell to me and it has been so far

http://i165.photobucket.com/albums/u...nde007/ggg.gif


I know its a bit late to post this but im just showing what helps me make a decision. Most of my trades do not follow a set religious pattern there is a the human factor to it.

m_j_1984 May 9, 2007 12:12pm | Post# 12398

wait till you read it again, its like reading it from scratch all new insights flood in each time...
Thanks I will do it.

leelee75k May 9, 2007 12:28pm | Post# 12399

someone give me a lesson on how to do those screen shots and upload them here... or my opinions will continue without any charts to show how i formulate them.

goonergonebad May 9, 2007 12:29pm | Post# 12400

http://i165.photobucket.com/albums/u...lipboard01.jpg

On a trend point of view....

From the simple chart above we can see that since 18th April we have had a down trend. It has been quite good in fitting into these trend lines ive drawn. If for this downtrend to finish we would need $2 to breach first (suspect resistance at this point to be quite big) and to confirm end of trend 2.0070 to breach in my view.

Now I also use bollinger bands, RSI and look for divergence signals to help (looking on 30 min chart) At 2.30 PM we had a divergence signal and price was at top of bollinger band. Also RSI above 70 maybe signalling overbought. Coupled with the big $2 area looked like a good sell to me and it has been so far

http://i165.photobucket.com/albums/u...nde007/ggg.gif


I know its a bit late to post this but im just showing what helps me make a decision. Most of my trades do not follow a set religious pattern there is a the human factor to it.
Thanks el duende,

It certainly helps me, both visually and in respect of thinking about the potential for trend boundaries. You know, 'a picture is worth a thousand words', etc.

BTW, is the first chart a 2 hour period?


© Forex Factory