Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

Post #74,641
Quote
Jul 4, 2008 9:59am Jul 4, 2008 9:59am

Turveyd
| Membership Revoked | Joined Aug 2006 | 11,977 Posts

Too slow

If it moves against me and I average down then I'll be stuck here for hours waiting just to get to break even

Nothing to it, but to do it!!! Stick to the plan FOOL!!!!

Post #74,642
Quote
Jul 4, 2008 10:32am Jul 4, 2008 10:32am

JamesCZ
Joined Jun 2008 | Status: [P]ip > [L]over | 343 Posts

Have a nice weekend guys...today nothing will happen as I see. And see you on monday

-- There's no winner without lose --

Post #74,643
Quote
Jul 4, 2008 10:57am Jul 4, 2008 10:57am

nAVIN2007
Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts

well on the bright side it hasnt gone up!.

what a day aye guys?

Post #74,644
Quote
Jul 4, 2008 11:34am Jul 4, 2008 11:34am

radit27
| Commercial Member | Joined Sep 2007 | 871 Posts

cable now 1.9831...

... i hope more up

till hoping....

be patient, self-belief and discipline... stay focus...

Post #74,645
Quote
Jul 4, 2008 12:19pm Jul 4, 2008 12:19pm

NuB
| Joined Jun 2008 | Status: Scrooge McBucks | 543 Posts

Quoting NuB

Disliked

It looks like its going to be a scalpers day today, and by the way its going back up. FOLLOW THAT TRICK, She just took my 10 PIPS

Ignored

WOW, 9 hours later and its still in the same range. No new Highs or Lows

. Boy am I glad I went to sleep. Ill see you guys Sunday night. By the way I got my 10 PIPs back from that trick.

Don't Get Bitter, Get Better

Post #74,646
Quote
Jul 4, 2008 12:50pm Jul 4, 2008 12:50pm

uncletrumpet
| Joined May 2007 | Status: Omo 9ja | 637 Posts

I will need to go out and preach the gospel of Jesus to people to get saved. the end is near.
See Sunday night

Post #74,647
Quote
Jul 4, 2008 1:00pm Jul 4, 2008 1:00pm

cvarnado
| Membership Revoked | Joined Jan 2007 | 158 Posts

shorted at 8836 closed at 8800

Post #74,648
Quote
Jul 4, 2008 1:08pm Jul 4, 2008 1:08pm

samuzowulu
| Joined May 2008 | Status: Member | 70 Posts

Quoting uncletrumpet

Disliked

I will need to go out and preach the gospel of Jesus to people to get saved. the end is near.
See Sunday night

Ignored

Are You really a preacher or are you just Kidding?

Post #74,649
Quote
Edited 3:14pm Jul 4, 2008 1:42pm | Edited 3:14pm

BANDA
| Joined Nov 2006 | Status: Member | 688 Posts

Could anybody help with a good source for forex price action Pdf file or a site for in depth reading . Will be very appreciative of this help.
Thanking you

Included a article on divergence and AB=CD patterns

Attached File(s)

divergence.pdf 564 KB | 974 downloads

AB=CD_Pattern.pdf 467 KB | 467 downloads

BANDA333

Post #74,650
Quote
Jul 4, 2008 3:01pm Jul 4, 2008 3:01pm

forexmoments
| Commercial Member | Joined Dec 2007 | 1,927 Posts

Quoting BANDA

Disliked

Could anybody help me with a good source for forex price action Pdf file or a site for in depth reading . Will be very appreciative of this help.
Thanking you

Included a article on divergence and AB=CD patterns

Ignored

Have you heard of the 1-2-3 pattern? It's pure price action.

I personally haven't studied it much, but I definitely intend to look more into it.

Post #74,651
Quote
Jul 4, 2008 3:13pm Jul 4, 2008 3:13pm

BANDA
| Joined Nov 2006 | Status: Member | 688 Posts

Hi Ash ,
I never had that article of 1-2-3 pattern if you happens to find it please .........I would like to have a look at it
Thank you very much

Quoting forexmoments

Disliked

Have you heard of the 1-2-3 pattern? It's pure price action.

I personally haven't studied it much, but I definitely intend to look more into it.

Ignored

BANDA333

Post #74,652
Quote
Jul 5, 2008 9:03am Jul 5, 2008 9:03am

Bones
Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 23,790 Posts

Well this is what I know about the 123 as it is something I use all the time for projections.
I am by no means an expert but the way I have used it has made me pips,lol.

Basically you are looking at the start of an up move and counting waves.So when price went up and then retraced recently I put the fib expansion up wave 1 and down the retrace 2 and it gave me a FE100 projection of 1.9968.

But to take that further I'm thinking we have just had wave 4 down and next week have wave 5 up??.

Jamie or any Elliott wave tech , can you help me out here ,am I correct as although Ive used the fib expansion I have never counted waves before??

Attached Image (click to enlarge)

Click to Enlarge

Name: four hour wave counting.gif
Size: 58 KB

#doyourownanalysisordietryin

Post #74,653
Quote
Jul 5, 2008 2:36pm Jul 5, 2008 2:36pm

BANDA
| Joined Nov 2006 | Status: Member | 688 Posts

Hi Bones
Thank you very much for the chart and analysis. Thank you!

Quoting Bones

Disliked

Well this is what I know about the 123 as it is something I use all the time for projections.
I am by no means an expert but the way I have used it has made me pips,lol.

Basically you are looking at the start of an up move and counting waves.So when price went up and then retraced recently I put the fib expansion up wave 1 and down the retrace 2 and it gave me a FE100 projection of 1.9968.

But to take that further I'm thinking we have just had wave 4 down and next week have wave 5 up??.

Jamie or any Elliott wave tech , can you help me out here ,am I correct as although Ive used the fib expansion I have never counted waves before??

Ignored

BANDA333

Post #74,654
Quote
Jul 5, 2008 9:02pm Jul 5, 2008 9:02pm

Turveyd
| Membership Revoked | Joined Aug 2006 | 11,977 Posts

Quoting Bones

Disliked

Well this is what I know about the 123 as it is something I use all the time for projections.
I am by no means an expert but the way I have used it has made me pips,lol.

Basically you are looking at the start of an up move and counting waves.So when price went up and then retraced recently I put the fib expansion up wave 1 and down the retrace 2 and it gave me a FE100 projection of 1.9968.

But to take that further I'm thinking we have just had wave 4 down and next week have wave 5 up??.

Jamie or any Elliott wave tech , can you help me out here ,am I correct as although Ive used the fib expansion I have never counted waves before??

Ignored

The market generally moves in periods of buyers or sellers so yes you get the waves kinda, but where the current wave ends is anyones guess and there will be many fakes along the way, which kinda makes all Wave Theorys useless and tried to make you a bottom fisher which is always a stupid game.

Yes, I've got a objective Study of most trading techniques, about the only way I've found which holds up is my intraday system, if there was something in any of these things and / indicators I'd be using them honestly, but i'm not.

SMA's used for support and resistance and trend spotting are very useful.
Bollinger Bands used for to spot ranges intraday are also very useful.

Outside of these 2, nothing has held up in tests, I'll add though PSAR has a chance of worker on all time scales outperforms waves for sure.

It's best to look at the market as a random entity ( random 6 like a dice ), but with a modifier ( -2 to +2 ) which gives you your over all trend.

modifiers

GBP Daily charts +1 5min closed at 0
Euro Daily +1 5 min +1 Giving it a slow uptrend so going long intrday is okay, prefer to wait for +2's though.

My current philosphy is, wait for a pull back when market is +2 so Bullish, allowing for randomness hard to predict a bottom / turn point so if it goes lower and it's still +1 then keep averaging down, drops to a 0 or below time to take the loss

So far soo good!!!

Nothing to it, but to do it!!! Stick to the plan FOOL!!!!

Post #74,655
Quote
Jul 5, 2008 9:20pm Jul 5, 2008 9:20pm

Turveyd
| Membership Revoked | Joined Aug 2006 | 11,977 Posts

Sorry just thinking out loud and getting my head around my own system.

Accepting you can't predict everything so don't try but trust the underlying trends is key.

The problem is there are many different trends direction time scales ( not talking 4hour charts here, use SMA's on M1 much more accurate )

Nothing to it, but to do it!!! Stick to the plan FOOL!!!!