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Cable Update (GBPUSD)

  • #460,081
  • May 3, 2018 7:07pm May 3, 2018 7:07pm
Quoting Nala66
{quote} I already have a new daily bar?
Normally, the right when the US market is closed when 0.00 GMT, I do not trust other bar closing time because every zone has different closing.
  • #460,082
  • May 3, 2018 7:16pm May 3, 2018 7:16pm
Quoting hippiedog
{quote} Hey man Trend is not still down, there currently is no trend, it has been a Range today with expecting breakout so every possibility of either long or short is the correct information as of now. {image}
There is nothing that can be understand from your chart except rectangle support and resistance zones. Can you explain more !!
Working with candles especially doji daily candles is a great evidence if the market can change the move or not.
  • #460,083
  • May 3, 2018 7:17pm May 3, 2018 7:17pm
Quoting hippiedog
Got USDCHF, EURUSD, GBPUSD lined up and ready but they are testing my patience, luckily USDJPY paid me today. {image}
Like so
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FREEDOM IS SECURITY.
  • #460,084
  • Edited 8:33pm May 3, 2018 7:23pm | Edited 8:33pm
Quoting TheWealth
{quote} There is nothing that can be understand from your chart except rectangle support and resistance zones. Can you explain more !! Working with candles especially doji daily candles is a great evidence if the market can change the move or not.
Hi mate

Yes candles are obviously key, ha, but.....

Like the above post shows.

Up trend equals up day follow by up day, same for down trend, down day follow by down day. Any day forming in opposite direction after 2nd day is a valid range until it either continue in the direction of previous 2 days continuing the trend or breaks and makes 2nd now becoming a new trend.

The charts are multi time period chart's. The rectangles represent the day candles range over another time frame, in this case the 1H.
It's all ammunition.
FREEDOM IS SECURITY.
  • #460,085
  • May 3, 2018 7:45pm May 3, 2018 7:45pm
Well I don't know about all this complex stuff of theories, I like to trade what I see not what I think or anyone else thinks. We cannot think trades.

As for trend if we are trading below the average then we are trending down no matter what colour the bars are. We can thus have an uptrend on the 5 minute chart and a downtrend on the daily chart the trend being related to the time frame we are looking at.

On the left below we see price is well and truly still in an up channel on the weekly and has currently dipped below the average. It has to do this because it has not yet FOUND support since crossing above the average and so the divergence sends it back across the EMA to a DP (Decision Point). Now it has the opportunity to cross back above the average, FIND support and then take out the 4387.

Here are my weekly and hourly charts,

Thanks for the explanation TheWealth
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  • #460,086
  • May 3, 2018 7:52pm May 3, 2018 7:52pm
Quoting Nala66
Well I don't know about all this complex stuff of theories, I like to trade what I see not what I think or anyone else thinks. We cannot think trades. As for trend if we are trading below the average then we are trending down no matter what colour the bars are. We can thus have an uptrend on the 5 minute chart and a downtrend on the daily chart the trend being related to the time frame we are looking at. On the left below we see price is well and truly still in an up channel on the weekly and has currently dipped below the average. It has to do...
Hi mate
Completely agree with you about trends on all different time frames ok, I am not disputing that. It is just you said you see no sign of uptrend and I letting the whole world know that there is.
FREEDOM IS SECURITY.
  • #460,087
  • May 3, 2018 8:05pm May 3, 2018 8:05pm
Quoting hippiedog
{quote} Hi mate Completely agree with you about trends on all different time frames ok, I am not disputing that. It is just you said you see no sign of uptrend and I letting the whole world know that there is.
Yes and I also said sit on hands until the market proves itself one way or the other. For me an uptrend would start with the bulls FINDING support on the hour chart and we would then see the average roll over to the long side. Not much usually happens during the Asian session.

Are you still awake from me being here last night... What are you smoking, I want some.
  • #460,088
  • Edited 9:01pm May 3, 2018 8:21pm | Edited 9:01pm
Quoting Nala66
{quote} Yes and I also said sit on hands until the market proves itself one way or the other. For me an uptrend would start with the bulls FINDING support on the hour chart and we would then see the average roll over to the long side. Not much usually happens during the Asian session. Are you still awake from me being here last night... What are you smoking, I want some.
Yes mate, week of work this week, my lads away so I have some time to give the markets a flushing with some very large positions, so while there open and I'm monitoring them, im back testing etc. Tis quite normal for me. Week on week of. Not a bad life really.
No mate, Asian session before NFP could see the previous day's range.
I love this guy.
Inserted Video
FREEDOM IS SECURITY.
  • #460,089
  • May 3, 2018 8:29pm May 3, 2018 8:29pm
Quoting hippiedog
{quote} Hi mate I have 1.36404 today as target. If this price level is not hit today then I will be targeting tomorrow's R1/R2 through out the day. If price hits R1 I will close half. If it does shoot south during NFP I will cry. Green pips. {image}
Update 1.36216 first target.
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FREEDOM IS SECURITY.
  • #460,090
  • May 4, 2018 1:03am May 4, 2018 1:03am
For me it is a wait for the right entry situation. I wait to go long/short on certain conditions
In trading,you got 3 options, Be bullish,bearish, or stay out
  • #460,091
  • May 4, 2018 1:24am May 4, 2018 1:24am
Quoting TheMayorE
For me it is a wait for the right entry situation. I wait to go long/short on certain conditions
And that Sir is one of the best short stories I have read on this thread. Plan the trade and trade the plan....
  • #460,092
  • May 4, 2018 1:33am May 4, 2018 1:33am
Hi guys,

I am looking for ideas in an Elliott Wave setup. There are a few dedicated Elliott Wave newsletter providers. Has anyone had any experience with anyone of them?

Trading EW system for more than 10y in an swing / position setup. Focusing only on European indices currently. So I am looking to diversify & find more ideas somewhere else. Had a EWI subscription. Service is great for learning but not for the ideas generation that I am looking for as they seem to have a heavy bearish bias. I can elaborate more on them if anyone should care.

Needs not to be exclusively a Newssletter. Maybe there is some forum, blog or whatever else.

Did you guys come across anything that you found valuable or a waste of time / money?

Thx
Market Player
  • #460,093
  • May 4, 2018 2:45am May 4, 2018 2:45am
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keep your eye on this day chart doji
  • #460,094
  • May 4, 2018 2:51am May 4, 2018 2:51am
I've got a buy limit pending at 1.3546, with a 16 point stop loss.

If the market invites me in, great, if not, I'm not going to buy into the market until the market shows its hand.
  • #460,095
  • May 4, 2018 2:58am May 4, 2018 2:58am
Quoting Nala66
{quote} And that Sir is one of the best short stories I have read on this thread. Plan the trade and trade the plan....
Thank you so much sir. Exactly it
In trading,you got 3 options, Be bullish,bearish, or stay out
  • #460,096
  • May 4, 2018 3:11am May 4, 2018 3:11am
Looks like we're at a fairly crucial point!
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  • #460,097
  • May 4, 2018 3:44am May 4, 2018 3:44am
hurry up and drop this to your 133 800 zone so we can start buying em back its getting boring wonder why no buyers are in lol ..
  • #460,098
  • May 4, 2018 3:45am May 4, 2018 3:45am
This might be where the expected sweet spot will be!
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  • #460,099
  • May 4, 2018 3:59am May 4, 2018 3:59am
Quoting jpdlegault
This might be where the expected sweet spot will be! {image}
Could be mate.
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FREEDOM IS SECURITY.
  • #460,100
  • May 4, 2018 4:12am May 4, 2018 4:12am
Quoting TheMayorE
{quote} Thank you so much sir. Exactly it
Actually I would love to hear about your criteria required for a trade to exist and I am sure others would be also.
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