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Cable Update (GBPUSD)

  • #456,461
  • Nov 15, 2017 3:39am Nov 15, 2017 3:39am
Quoting Nala66
For those following this I have just reproduced the trade at the 1 min chart below. Apart from the 1st entry based on the bull support the following entries are made when the fast RSI is below but the slow RSI is above the waterline. {image}
Hello Nala, still doing your thing I see...making pips without the headache. Nice.

If I may ask, how do you determine signals exactly...what MAs/TFs etc do you use?
who dares wins
  • #456,462
  • Nov 15, 2017 4:23am Nov 15, 2017 4:23am
The EMA is a 26 period representing the waterline (50%) on the RSI.

1 min, 5 min and 1 hour are the charts I watch all the time and on occasion look at the higher ones just out of interest.

Note the blue vertical lines on the 5 min chart, these are Cycle lines where I look to get started.

Whatever side either bulls or bears find support around this area is the side I am going to look at trading.

Support is when one side crosses the EMA and the opposition fails to get it back.

Price will then traverse from one support to the other. i.e Bull support to bear support.
  • #456,463
  • Nov 15, 2017 5:07am Nov 15, 2017 5:07am
Sorry MJ trying to watch the soccer at the same time.... Aud v Hon 3:1

If I zoom out on the 5 min you can see how my cycle lines generally show where the action is about to take off. Normally I only have one line but clock time changes seem to have made things a little different.

I keep it all dead simple no extra lines, no theories, just trade what is happening now.
  • #456,464
  • Nov 15, 2017 6:03am Nov 15, 2017 6:03am
Attached Image (click to enlarge)
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TSLA: 30-Dec-22 123.18 // 16-Jun-23 260.54 **111.51%**
  • #456,465
  • Nov 15, 2017 6:19am Nov 15, 2017 6:19am
Quoting Nala66
The EMA is a 26 period representing the waterline (50%) on the RSI. 1 min, 5 min and 1 hour are the charts I watch all the time and on occasion look at the higher ones just out of interest. Note the blue vertical lines on the 5 min chart, these are Cycle lines where I look to get started. Whatever side either bulls or bears find support around this area is the side I am going to look at trading. Support is when one side crosses the EMA and the opposition fails to get it back. Price will then traverse from one support to the other. i.e Bull support...
Thanks Nala, any chance you can elaborate on the Cycle lines tho? on the charts here I don't see blue vertical lines. Do you mean the actual trading sessions or wave cycles?
who dares wins
  • #456,466
  • Nov 15, 2017 7:10am Nov 15, 2017 7:10am
Quoting MasterJedi
{quote} Thanks Nala, any chance you can elaborate on the Cycle lines tho? on the charts here I don't see blue vertical lines. Do you mean the actual trading sessions or wave cycles?
Sorry I am multi-tasking here and forgot to post the image, here you go
Attached Image (click to enlarge)
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  • #456,467
  • Nov 15, 2017 1:34pm Nov 15, 2017 1:34pm
If we can break through 3186, then we should push for 3226... Ranging atm, so lets see! GL
  • #456,468
  • Nov 15, 2017 3:18pm Nov 15, 2017 3:18pm
Quoting Nala66
{quote} Sorry I am multi-tasking here and forgot to post the image, here you go {image}
Congrats on making it to the world cup, a lot of big names haven't made it. Might go far.

I don't quite understand those vertical lines yet...I might get it tomorrow.

Cheers mate
who dares wins
  • #456,469
  • Nov 15, 2017 11:52pm Nov 15, 2017 11:52pm
Inserted Video
  • #456,470
  • Nov 16, 2017 9:00am Nov 16, 2017 9:00am
I believe that the price will continue its growth to the resistance line and will test it. And if it breaks, it will go to 1.32606. And if not, it will go down to the point of 1.31416.
Attached Image (click to enlarge)
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  • #456,471
  • Nov 16, 2017 2:51pm Nov 16, 2017 2:51pm
Quoting Dr.Phoenix
{quote} Hi, Last time I wrote that price might have come to the level of 32350 for it to close the daily hidden gap of up to 32400. But the price was not able to have risen. The price just worked out the 4H hidden gap, then it was rejected, fell down to the level of 31600 and entered into the Month initial balance (IB) again (at the level of 100%). It was the last week (green). The current week IB (red). As you can see at the picture, today the price have not broken through the lower boundary (100%) of the current week IB. The price seems to be...
Hi,

All the mentioned scenarios are valid.

However, having looked at today's price behaviour, I can now assume an alternative (to those scenarios mentioned above) sharp upmove, rejection and coming back to the current week's IB (Red 0-100%) tomorrow. Let us see it on Friday.

Best
D.P.
Attached Image (click to enlarge)
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  • #456,472
  • Nov 16, 2017 4:49pm Nov 16, 2017 4:49pm
I don't know it seems price is content to stay around the mid point of a penny range for the time being.

Looking at my 1hr chart the Bulls were the last to find support and the Bears failed testing it so we should see it test the Bear support at the top sooner or later.

The Bulls are slowly taking the average upwards

Oh well back to my lower time frame...
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  • #456,473
  • Nov 16, 2017 7:36pm Nov 16, 2017 7:36pm
GBPUSD started an upside move, hopefully this means the Brexit discussions are proceeding positively. The technical picture as noted on this forum has been a bit confused, but the key economic data has been overwhelmingly positive, so this pair in my view has a fair amount of buoyancy. Targeting 1.3320, no hard SL to avoid stop hunters, so I will be in attendance to the bitter end!
Attached Image (click to enlarge)
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  • #456,474
  • Nov 16, 2017 8:03pm Nov 16, 2017 8:03pm
A trade I executed today. Also saw a similar pattern in euro vs usd.
Attached Image
  • #456,475
  • Nov 16, 2017 11:32pm Nov 16, 2017 11:32pm
Been out all day and get home to find I have been paid...

The Bulls finally took out the Bear support, now can they hold onto it throughout the Euro session.
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  • #456,476
  • Nov 16, 2017 11:53pm Nov 16, 2017 11:53pm
Inserted Video
  • #456,477
  • Edited 4:26am Nov 17, 2017 1:59am | Edited 4:26am
Quoting josh11
If we can break through 3186, then we should push for 3226... Ranging atm, so lets see! GL
Levels hit, next strong level will be 3264 and 3290...

3226 levels looks like good support. GL
  • #456,478
  • Nov 17, 2017 5:11am Nov 17, 2017 5:11am
Quoting josh11
{quote} Levels hit, next strong level will be 3264 and 3290... 3226 levels looks like good support. GL
Support Broken, now will we see a push down?
  • #456,479
  • Nov 17, 2017 5:45am Nov 17, 2017 5:45am
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  • #456,480
  • Nov 17, 2017 6:13am Nov 17, 2017 6:13am
Quoting Dr.Phoenix
{quote} Hi, All the mentioned scenarios are valid. However, having looked at today's price behaviour, I can now assume an alternative (to those scenarios mentioned above) sharp upmove, rejection and coming back to the current week's IB (Red 0-100%) tomorrow. Let us see it on Friday. Best D.P. {image}
The sharp move up happened.
Added short at 32550

Awaiting for the day close.
If the price is within red 0-100%, I will remain to be bearish.

D.P.

P.S. Oh, by the way, the daily hidden gap (I wrote recently) was closed.
Attached Image (click to enlarge)
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