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Cable Update (GBPUSD)

  • #57,881
  • Mar 11, 2008 5:16pm Mar 11, 2008 5:16pm
Quoting Bones
Hey Nav just looking at that post(my sky is down ,lol) have you read Steve Nisson’s book.
Only that blue box thing looks kinda intresting
my brother...went to one of his seminars....and told me all about candles and stuff....but yes steve nisson helped my trading go slightly in more profit direction ...lol
Its funny how everyday i learn something new and to be honest today i think i really progressed just made a blunder and it cost me huge but otherwise it was so worth it...
I thinking maybe i need more time b4 i go live so i get all the mistakes out of my system...
  • #57,882
  • Mar 11, 2008 5:22pm Mar 11, 2008 5:22pm
Quoting nAVIN2007
my brother...went to one of his seminars....and told me all about candles and stuff....but yes steve nisson helped my trading go slightly in more profit direction ...lol
Its funny how everyday i learn something new and to be honest today i think i really progressed just made a blunder and it cost me huge but otherwise it was so worth it...
I thinking maybe i need more time b4 i go live so i get all the mistakes out of my system...
That sounds wise Nav for the min.You know they say you need to be profitable for 3 months min before going live.I can tell you I have not been profitable for much more than that but was live from day 1.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #57,883
  • Mar 11, 2008 5:28pm Mar 11, 2008 5:28pm
Quoting Turveyd
Not doubting your age / wisdom at all here, it's just illogical to me.

I can tell alot of information, sadly no chart gives me exact numbers, but 2.0090 is my 12sma resistance line, which it reversed off abit earlier.

1day / 4hour charts makes sense, if your in it for a long haul, but you lot seem to be trying to day trade the swings in the market part blind folded to me.


But hey, each to there own, your system goes over my head, just like i'm sure my system would do yours.
I kinda understand what u mean..i thought the same thing to begin with but when u deal withat least 4hr time frame it tells u what the masses are doing and if u join the flook of sheep ..in theory u end up winning it does work buddy..trust me..
u dont just because u want 15 pips here and large time frame put u off...and i can see u joining the sheep too some time also in future ..
  • #57,884
  • Mar 11, 2008 5:29pm Mar 11, 2008 5:29pm
Quoting Turveyd
Not doubting your age / wisdom at all here, it's just illogical to me.

I can tell alot of information, sadly no chart gives me exact numbers, but 2.0090 is my 12sma resistance line, which it reversed off abit earlier.

1day / 4hour charts makes sense, if your in it for a long haul, but you lot seem to be trying to day trade the swings in the market part blind folded to me.


But hey, each to there own, your system goes over my head, just like i'm sure my system would do yours.
Agreed everyone has their own style and that is good. You would be surprised how much info is on a 1 or 4hr at least. You have skills on the hardest Time Frame there is.
Say in the future you decide to trade for a living, you don’t want to be glued to your monitor.
Anyway Good Luck To you My friend.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #57,885
  • Mar 11, 2008 5:36pm Mar 11, 2008 5:36pm
I'm trying to move into trading for a living currently over the next few months, with more money being added shortly, I'm a programmer so I'm stuck infront of the monitor anyways, prefer trading to coding


I'll just trade for 2-3hours per day, full infront of the monitor / PDA ( gives me some away from screen time ) take advantage of whats on offer then go do something else be the plan.

I've tried using 4hour charts but always comes back to 1min so I've given up on anything other really.


Best of luck too sir!!

* my USDJPY call was short term wrong, coulda made some pips by error typical *
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #57,886
  • Mar 11, 2008 5:52pm Mar 11, 2008 5:52pm
Heres something intresting
Attached Image (click to enlarge)
Click to Enlarge Name: 4hr.gif Size: 23 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #57,887
  • Mar 11, 2008 6:11pm Mar 11, 2008 6:11pm
daily candle opening up bearish.

1st support 2.0020
2nd support 1.9965
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #57,888
  • Mar 11, 2008 6:34pm Mar 11, 2008 6:34pm
Quoting Abuawad
12-3-2008

----

March summary till 11-3-2008:
Total: 710 pip
Average: 101.4 pip/day
Lowest day profit: 42
Highest day profit: 164 pip
What does it mean while price is in the Unknown Area?
Darkness lies one inch ahead..
  • #57,889
  • Mar 11, 2008 6:34pm Mar 11, 2008 6:34pm
Quoting salah k.
daily candle opening up bearish.

1st support 2.0020
2nd support 1.9965
The daily candle closed above the 38.2% fib. line, now tell me if it closed above that line, what does it mean?
  • #57,890
  • Mar 11, 2008 6:39pm Mar 11, 2008 6:39pm
Quoting Bones
Heres something intresting
There's also an upsloping triangle formed with the double top, implying price will break upwards. But the larger symmetric triangle implies price will break in the direction of the prevailing trend i.e. down
Darkness lies one inch ahead..
  • #57,891
  • Mar 11, 2008 6:45pm Mar 11, 2008 6:45pm
Quoting Abuawad
12-3-2008

----

March summary till 11-3-2008:
Total: 710 pip
Average: 101.4 pip/day
Lowest day profit: 42
Highest day profit: 164 pip
Could you give some guidelines as to how you draw your fibs and fib fans e.g. how do you select the swing points

thanks
Darkness lies one inch ahead..
  • #57,892
  • Mar 11, 2008 7:03pm Mar 11, 2008 7:03pm
Ok not the close I wanted so I will have scaled out some longs and will wait for the break of 9970 before reassessing,
laters im shattered.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #57,893
  • Mar 11, 2008 7:38pm Mar 11, 2008 7:38pm
Abuawad.. how did you determine the first S1 @ 9930?

The closest I could get was 9970.

Please clarify.
"I know how hard it is for you to put food on your family." George W. Bush
  • #57,894
  • Mar 11, 2008 7:41pm Mar 11, 2008 7:41pm
25pips on my UJ short I got into on the pop up will do me nicely

GU 6hour support @2058, 12hour resistance @2072, everyones sitting on the fence until 1 or the other is broken.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #57,895
  • Mar 11, 2008 8:50pm Mar 11, 2008 8:50pm
Quoting Abuawad
i didn't manage it i was sleep till 8:30 i miss that candle by lock if and i check the chart there was a strong support on the fibo fav and the next candle close above the unknown down limit
Looks like you used H1 rather than H4 - if you had used H4, the move would have been over.
Darkness lies one inch ahead..
  • #57,896
  • Edited 9:51pm Mar 11, 2008 9:12pm | Edited 9:51pm
Quoting AmeriTrini
The daily candle closed above the 38.2% fib. line, now tell me if it closed above that line, what does it mean?
cable has find the new low @1.9992. after close above 38.2%, cable prepare to pass the last high 2.0220 & 2.0250 area....
Never Give Up.....
  • #57,897
  • Mar 12, 2008 12:29am Mar 12, 2008 12:29am
Longs look good again ,phew,was a bit over extended there so dont regret closing some of my longs.
Attached Image (click to enlarge)
Click to Enlarge Name: 30 min.gif Size: 28 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #57,898
  • Mar 12, 2008 12:45am Mar 12, 2008 12:45am
Quote
Quote:
Originally Posted by Abuawad http://www.forexfactory.com/images/buttons/viewpost.gif
12-3-2008

----

March summary till 11-3-2008:
Total: 710 pip
Average: 101.4 pip/day
Lowest day profit: 42
Highest day profit: 164 pip

What does it mean while price is in the Unknown Area?

simply stay away
  • #57,899
  • Mar 12, 2008 12:48am Mar 12, 2008 12:48am
Quote

Abuawad.. how did you determine the first S1 @ 9930?

The closest I could get was 9970.

Please clarify.

the 74.6 fibo fan for daily chart from 1.9719 to 2.0219
  • #57,900
  • Mar 12, 2008 12:50am Mar 12, 2008 12:50am
Quote
Quote:
Originally Posted by Abuawad http://www.forexfactory.com/images/buttons/viewpost.gif
12-3-2008

----

March summary till 11-3-2008:
Total: 710 pip
Average: 101.4 pip/day
Lowest day profit: 42
Highest day profit: 164 pip

Could you give some guidelines as to how you draw your fibs and fib fans e.g. how do you select the swing points

thanks

its like the normal fan from the low to the high or from the high to the low depend on the trend.
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