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Cable Update (GBPUSD)

  • #48,301
  • Jan 4, 2008 9:49am Jan 4, 2008 9:49am
Quoting Bones
really like the look of this all the moons must be aligned
There is only one moon around this planet so you need to check your data

If all the moons in the solar sytem are aligned then I am getting some more booze in
  • #48,302
  • Jan 4, 2008 9:49am Jan 4, 2008 9:49am
Quoting FXdaily
85,000$
....never trust this guy!
  • #48,303
  • Jan 4, 2008 9:55am Jan 4, 2008 9:55am
Quoting allserene
There is only one moon around this planet so you need to check your data

If all the moons in the solar sytem are aligned then I am getting some more booze in

Bit late to start drinking I started at 8 (am)



Want price it to break 1.9710 in next 5 min
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #48,304
  • Jan 4, 2008 10:06am Jan 4, 2008 10:06am
Quoting Bones
I have noticed this bar is sitting on that trendline help me out a little more brother are we up

there are no shortcuts in forex as you already know and we all learn more each day..... to all you new people on this thread....please refrain from posting trade calls nobody learns from your amateur speculation how about posting a chart and an anysis for critique so you can get other points of view and actually learn to trade your own method and have trust and confidence in your own calls like bones did! then some seniors might actually take the time to help you... newbies DO NOT LISTEN TO THE TRADE CALLS MADE ON THIS THREAD.....


no back to your question.... first read skunnys thread on indicator free trading.... because you are on the right track looking at trendlines and areas of ranges and areas of support and resistance... this is good! now on his thread is a link for vhands whcih allows you to test theories and strategies and you can see price action in fast forward on past data.... you can go back and retrade every mistake you ever made and learn not to do that mistake again.....

now as for your question: hint: is the channel pointing down or up? is it getting thinner or wider?

in the past when price breaks a down channel to the upside what happens? when it breaks to the downside what happens? what does price usually do when it breaks these channels? what does price NOT do? once you know what price won't do...you can trade accordingly! how often does price go up and close well above that channel and then go back down? and vice versa..... think of it this way.... you should be placing every trade in a place of low risk in other words you should put trades in a place where if you are wrong...you are easily prepared to reverse your trade or at least get out with only a small loss and reevaluate..... once you are placing your trades in low risk places.... ( all nebies need to go to skunnys thread and james 16 thread to learn price action and get on vhands) good luck!
  • #48,305
  • Jan 4, 2008 10:11am Jan 4, 2008 10:11am
Quoting Bones
Weve been up and down like a YO -YO
and end up almost exctly where we started ( since 7 am GMT)

uj was headed down and gu was fingding support until the dow started taniking and the fed announced more liquidity,,,, just so you all know y things went a bit wacky.... the long term trends will not change for those using higher time frames though.... but when the fed gets involved its dangerous for trading
  • #48,306
  • Jan 4, 2008 10:20am Jan 4, 2008 10:20am
Quoting dagoods
there are no shortcuts in forex as you already know and we all learn more each day..... to all you new people on this thread....please refrain from posting trade calls nobody learns from your amateur speculation how about posting a chart and an anysis for critique so you can get other points of view and actually learn to trade your own method and have trust and confidence in your own calls like bones did! then some seniors might actually take the time to help you... newbies DO NOT LISTEN TO THE TRADE CALLS MADE ON THIS THREAD.....


no back to your question.... first read skunnys thread on indicator free trading.... because you are on the right track looking at trendlines and areas of ranges and areas of support and resistance... this is good! now on his thread is a link for vhands whcih allows you to test theories and strategies and you can see price action in fast forward on past data.... you can go back and retrade every mistake you ever made and learn not to do that mistake again.....

now as for your question: hint: is the channel pointing down or up? is it getting thinner or wider?

in the past when price breaks a down channel to the upside what happens? when it breaks to the downside what happens? what does price usually do when it breaks these channels? what does price NOT do? once you know what price won't do...you can trade accordingly! how often does price go up and close well above that channel and then go back down? and vice versa..... think of it this way.... you should be placing every trade in a place of low risk in other words you should put trades in a place where if you are wrong...you are easily prepared to reverse your trade or at least get out with only a small loss and reevaluate..... once you are placing your trades in low risk places.... ( all nebies need to go to skunnys thread and james 16 thread to learn price action and get on vhands) good luck!


Appreciate the advice Dagoods

I will the read the thread
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #48,307
  • Jan 4, 2008 10:59am Jan 4, 2008 10:59am
hedged in at break even got a buy or sell free wait for a bit

If price is rejected off blue line might close long might not happen today though getting late
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #48,308
  • Jan 4, 2008 11:07am Jan 4, 2008 11:07am
Quoting Bones
I’ve noticed something rather interesting on my 30 min chart.
When the price peaks and the next bar stops short of that high/low if you draw a trend line from the 2 bottom or tops (depending on type of reversal) price seems to respect them as support and resistance.

Based on it we have a short term reversal to the upside until the blue line is breached.
If price bounces off blue line we have a long until blue line is breached.

Not going to trade this just watch. Something’s got to happen by 11.30 am one way or the other but I would say up first for now.

1.9778 looks a good target for next reversal down

just curious if you drew lines around that thinner channel? and what happened? post a chart for everyone to see!
  • #48,309
  • Jan 4, 2008 11:37am Jan 4, 2008 11:37am
Quoting dagoods
there are no shortcuts in forex as you already know and we all learn more each day.....

in the past when price breaks a down channel to the upside what happens? when it breaks to the downside what happens? what does price usually do when it breaks these channels? what does price NOT do? once you know what price won't do...you can trade accordingly! how often does price go up and close well above that channel and then go back down? and vice versa..... think of it this way.... you should be placing every trade in a place of low risk in other words you should put trades in a place where if you are wrong...you are easily prepared to reverse your trade or at least get out with only a small loss and reevaluate..... once you are placing your trades in low risk places.... ( all nebies need to go to skunnys thread and james 16 thread to learn price action and get on vhands) good luck!

There is some wisdom for those who have eyes and ears. 80+% are false at channel tops/bottoms that would be lowest R/R trades coupled with volume on the approach. Heavy volume on up/down bars on the approach, res/sup will not hold. Or very very unlikely to hold
"Millionaires don't use astrology, billionaires do"
  • #48,310
  • Jan 4, 2008 11:44am Jan 4, 2008 11:44am
Quoting dagoods
there are no shortcuts in forex as you already know and we all learn more each day..... to all you new people on this thread....please refrain from posting trade calls nobody learns from your amateur speculation how about posting a chart and an anysis for critique so you can get other points of view and actually learn to trade your own method and have trust and confidence in your own calls like bones did! then some seniors might actually take the time to help you... newbies DO NOT LISTEN TO THE TRADE CALLS MADE ON THIS THREAD.....


no back to your question.... first read skunnys thread on indicator free trading.... because you are on the right track looking at trendlines and areas of ranges and areas of support and resistance... this is good! now on his thread is a link for vhands whcih allows you to test theories and strategies and you can see price action in fast forward on past data.... you can go back and retrade every mistake you ever made and learn not to do that mistake again.....

now as for your question: hint: is the channel pointing down or up? is it getting thinner or wider?

in the past when price breaks a down channel to the upside what happens? when it breaks to the downside what happens? what does price usually do when it breaks these channels? what does price NOT do? once you know what price won't do...you can trade accordingly! how often does price go up and close well above that channel and then go back down? and vice versa..... think of it this way.... you should be placing every trade in a place of low risk in other words you should put trades in a place where if you are wrong...you are easily prepared to reverse your trade or at least get out with only a small loss and reevaluate..... once you are placing your trades in low risk places.... ( all nebies need to go to skunnys thread and james 16 thread to learn price action and get on vhands) good luck!
Totally agree with you. Some people call trades just because the price is going up or down and said, "now i will go up", "know I will go down", yeah right after the price had moved already in the direccion of your call. It is not how price is moving @ any moment, is to analise why, when, how or what is moving the price before and make your plan according with your strategies. I'm a pattern recogniton trader, but even that I try to trade without the inffluence of the news, I know that news could have some effect on my tradding. So days like today, I wait for the accion to take effects and after the crazyness of the event, I sit down and study what's next with this charts. Good example today! Bad news for US and after few minutes dollar got stronger so where was the sky for GU? Every pair have his characteristic there is what we has to look for.

Learn the filling, curture, behavior, and moves of the chart, then apply what ever system you use with logical, technical, (fundamental if need it), analisis to make any call. I know also that here are good traders that calls are serious and with some technical or fundamental analisis and I aplause that, but others are just trying to call the attention saying goofy calls. This is not Disneyland, this is a hard enviroment that we all have to survive.
If I see a pair with some characteristic of a pattern form, I draw my lines and check is the pattern complete the movement for my entry, if I get a signal, wuala, next move should be this direccion and am in. The analisis is make before the movement, when you see the combination of the movement and the strategy, for sure there are pips to catch. As hundres of trader said even if they don't follow, PATIENCE will help you to success. Market is here today and will be (I hope) for ever. If you don't get your pips today, tomorrow is an other day.

Good trading to all and pips for all.
  • #48,311
  • Jan 4, 2008 11:46am Jan 4, 2008 11:46am
Quoting OrionsWay
There is some wisdom for those who have eyes and ears. 80+% are false at channel tops/bottoms that would be lowest R/R trades coupled with volume on the approach. Heavy volume on up/down bars on the approach, res/sup will not hold. Or very very unlikely to hold

wow look at that a trader in the room! good for you! 80% doent break those resisatance and support???wow that IS interesting! now you are talking!!!! could anyone see how this is a good thing! now with this knoledge, could you see how easy trading can be????? warning though.... you have to know where ALL of the support and resistance lines are..... next lesson top down trading! start with the highest time frame plot your support and resistance trendlines..... then you can trade off of the one hour chart with 80% success and guess what happens if you are wrong and its the other 20% of the time? what happens in those instances? 9ps those are my favorites! good work! post a chart for others to learn! PS NOW IF YOU ONLY TRADED WITH THE LARGER TRENDS... HOW EASY WOULD THIS BE .. OF COURSE PATIENCE IS REQUIRED.... AS THEY SAY SIT LIKE A SNIPER AND WAIT IF YOU USE A SHOTGUN APPROACH YOU ARE DOOMED GREAT WORK! GOOD LUCK ALL

PSS LEARN MONEY MANAGEMENT FIRST AND FOREMOST RISK 1 DOLLAR FOR EVERY POTENTIAL 3 DOLLARS PROFIT WITH STOP LOSS ACCORDINGLY = RISK REWARD AND ABOVE ALL ONLY RISK 1 TO 2% PER TRADE!!!!!
  • #48,312
  • Jan 4, 2008 12:00pm Jan 4, 2008 12:00pm
Quoting dagoods
just curious if you drew lines around that thinner channel? and what happened? post a chart for everyone to see!
here you all go!

what happend after that channel thinned and when it broke down ? what happened when the down channel broke up? ok all thats enough to start learning... now go to skunnys indicator free trading thread and get vhands...study these things and price action on vhands and get comfortable with trading with confidence.... then open a demo account for at leasast 3 months.... then start a mini or better yet a micro lot account.... then when you are profitable almost 100% of the time then you can start trading good luck all
  • #48,313
  • Jan 4, 2008 12:03pm Jan 4, 2008 12:03pm
chart
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 22 KB
  • #48,314
  • Jan 4, 2008 12:19pm Jan 4, 2008 12:19pm
WAY TO GO DAGOODS, CARRERA SOME REAL EYE OPENERS FOR ALL PAYING ATTENTION
  • #48,315
  • Jan 4, 2008 1:20pm Jan 4, 2008 1:20pm
Quoting dagoods
chart

by the way can anyone tell me why this IS not the best example? hint: it has to do with the trend! (also the timeframe is small only 30 minutes)
  • #48,316
  • Edited 2:06pm Jan 4, 2008 1:51pm | Edited 2:06pm
Shut my short for profit (about 30 pips)was sitting on that 1.9710 with no where to go bounced up nicely

actually gonna close my long now at 1.9727 6 pip loss overall on long
up on overall long short trade and waiting for next week
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #48,317
  • Jan 4, 2008 1:54pm Jan 4, 2008 1:54pm
Uncle wondering if you unloaded then reloaded them shorts in chunnel, think its a winner. maybe a little exhaustion, pink dot is reversal confirmation bar
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_22.gif Size: 60 KB
"Millionaires don't use astrology, billionaires do"
  • #48,318
  • Jan 4, 2008 2:20pm Jan 4, 2008 2:20pm
Quoting dagoods
chart
Can’t tell you how helpful it is to have advice from proper traders here who know what is what in trading.
I’m here to learn, not make calls, but to have an opinion/ input which is open for discussion good or bad .

I do know I am trading a lower more risky time frame than say a professional but my line of thinking is to learn more set ups with more going on.
I am thinking of moving up time frames soon.

Thanks mate have a good weekend.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #48,319
  • Jan 4, 2008 2:40pm Jan 4, 2008 2:40pm
Quoting Bones
Can’t tell you how helpful it is to have advice from proper traders here who know what is what in trading.
I’m here to learn, not make calls, but to have an opinion/ input which is open for discussion good or bad .

I do know I am trading a lower more risky time frame than say a professional but my line of thinking is to learn more set ups with more going on.
I am thinking of moving up time frames soon.

Thanks mate have a good weekend.
That's a good trader actitude, keep the good job.
  • #48,320
  • Jan 4, 2008 2:48pm Jan 4, 2008 2:48pm
Quoting Bones
Can’t tell you how helpful it is to have advice from proper traders here who know what is what in trading.
I’m here to learn, not make calls, but to have an opinion/ input which is open for discussion good or bad .

I do know I am trading a lower more risky time frame than say a professional but my line of thinking is to learn more set ups with more going on.
I am thinking of moving up time frames soon.

Thanks mate have a good weekend.

Ok then great attitude! check out uncleforex orion carrera and others that are doing good trading and posting good cahrt analysis and learn! how bout this.... go study charts on a couple of pairs and draw some channels and then post the charts here.... (look at weekly monthly to make sure there are no trouble zones in the way (like on u/j right now is a weekly support level coming up = danger) then post daily 4 hour and 1 hour) and we can take a look and see if we cant figure some things out
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