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Cable Update (GBPUSD)

  • #63,041
  • Edited 4:35pm Apr 26, 2008 3:48pm | Edited 4:35pm
Quoting Turveyd
I was very profitable on stocks for a few years, until they changed the day trading rules then I lost my margin and ability to short, so switched to options made stupid money due to very high risk spent it, then blew the account in a gap up pretty much, had 2 years off, then started messing with Forex casually 3 1/2 years ago, only started to take it seriously last 2months.

And No Navin, I use 15min purely for as above, 1M isn't noise, it's detail, you've got to learn how to interpret the detail and what to ignore thats all.

I'll be profitable on Forex real soon to, don't you worry 7 trades this week, only 1 loser ironically my first trade!!
KNOW doubt yur a great trader hopefully we all make profit so or later..good luck to us all ..
  • #63,042
  • Apr 26, 2008 4:23pm Apr 26, 2008 4:23pm
I don’t doubt your ability Turv or even your system just the TF.

I really hope we can all be profitable on this pair and if it can start trending this will be easier.


Quoting Turveyd
I was very profitable on stocks for a few years, until they changed the day trading rules then I lost my margin and ability to short, so switched to options made stupid money due to very high risk spent it, then blew the account in a gap up pretty much, had 2 years off, then started messing with Forex casually 3 1/2 years ago, only started to take it seriously last 2months.

And No Navin, I use 15min purely for as above, 1M isn't noise, it's detail, you've got to learn how to interpret the detail and what to ignore thats all.

I'll be profitable on Forex real soon to, don't you worry 7 trades this week, only 1 loser ironically my first trade!!
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #63,043
  • Apr 26, 2008 4:37pm Apr 26, 2008 4:37pm
Quoting Bones
I don’t doubt your ability Turv or even your system just the TF.

I really hope we can all be profitable on this pair and if it can start trending this will be easier.
Absolutely buddy ...seem just when i go used to market trending it bloody stopped ..waiting for it to start again, the good news is EUR come down which means theres gonna be a correlation again hopefully..

this will help us make money
  • #63,044
  • Apr 26, 2008 5:09pm Apr 26, 2008 5:09pm
Quoting Bones
I don’t doubt your ability Turv or even your system just the TF.

I really hope we can all be profitable on this pair and if it can start trending this will be easier.

My system simply WILL NOT work on higher TF's, how do you plot a 45min ( as a period of time ), or 90, over even 3hour onto a 4hour charts ??

These are the levels I trade off and I've posted pics of the setups numerous times, yet you won't see them.

Thats what I'm trading off, not candle formations or Fib's or anything else, without M1 it's back to square 1 for me seriously!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #63,045
  • Apr 26, 2008 5:38pm Apr 26, 2008 5:38pm
Quoting Turveyd
My system simply WILL NOT work on higher TF's, how do you plot a 45min ( as a period of time ), or 90, over even 3hour onto a 4hour charts ??

These are the levels I trade off and I've posted pics of the setups numerous times, yet you won't see them.

Thats what I'm trading off, not candle formations or Fib's or anything else, without M1 it's back to square 1 for me seriously!!
dont worry man one way or other we will get there..whether its 1 M or 1 day ...whatever work works ....just must be profitable, thats the main thing..
  • #63,046
  • Apr 26, 2008 6:34pm Apr 26, 2008 6:34pm
Quoting Bones
Nav expect a retrace of that last bullish bar but then up we go for a bit I have around 2.1 as the next sell.
For me I am now seeing fundamentals and the charts come together and from my charts im thinking we may have a statement or maybe more of a cut from the fed which will drive prices up.

We have had a lot of bad numbers from the US and the BOE have now got a get out clause on lowering their rates.
hey bones
how u doin mate

about the fed rate cut, don't expect any aggressive cuts anymore. thats just not likely so if fundamentally ur counting on the cut to push cable upwards i think u would be wrong.

but u never know u might be right after all, but if an aggressive rate cut took place that would mean bernanke has an agenda that is not concerned with US economy at all, because inflation is kicking in and people wont be able to handle it with all the other shit on their hands.

all the best
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #63,047
  • Apr 26, 2008 8:50pm Apr 26, 2008 8:50pm
Quoting nAVIN2007
dont worry man one way or other we will get there..whether its 1 M or 1 day ...whatever work works ....just must be profitable, thats the main thing..

Don't worry, My little system is WAY more than just profitable, I'm at fault not my system, but starting to trust and play the system more rather than ignoring it and losing, so all is good i will hit my target, which i think is 7weeks

A Kick ass +200+pip week, would sure boost some confidence right about know though.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #63,048
  • Apr 27, 2008 3:18am Apr 27, 2008 3:18am
Ok Turv I don’t want to go on about it as we have more than covered the subject.
Just you did bring it up when you thought to open the monthly was not correct.
If you can make money on the 1 min it that is great mate.


Quoting Turveyd
My system simply WILL NOT work on higher TF's, how do you plot a 45min ( as a period of time ), or 90, over even 3hour onto a 4hour charts ??

These are the levels I trade off and I've posted pics of the setups numerous times, yet you won't see them.

Thats what I'm trading off, not candle formations or Fib's or anything else, without M1 it's back to square 1 for me seriously!!
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #63,049
  • Edited 3:33am Apr 27, 2008 3:22am | Edited 3:33am
Its going great ,I mean the last month has been a little difficult lets say as I have struggled with the bearish look of the charts and my more bullish fundamental view on this pair so I found it difficult to short/buy when the clear signals were there.
Yea I had a little look into that last night and it seems your right on the rates Salah.I do also notice the calander is jam packed.
How you doing how’s the live trading/account going mate.


Quoting salah k.
hey bones
how u doin mate

about the fed rate cut, don't expect any aggressive cuts anymore. thats just not likely so if fundamentally ur counting on the cut to push cable upwards i think u would be wrong.

but u never know u might be right after all, but if an aggressive rate cut took place that would mean bernanke has an agenda that is not concerned with US economy at all, because inflation is kicking in and people wont be able to handle it with all the other shit on their hands.

all the best
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #63,050
  • Apr 27, 2008 3:25am Apr 27, 2008 3:25am
Ya know I understand the point of view that “how can a chart predict price for so long “or “how can a formation that takes weeks or years to form give final direction” and honestly I don’t know the answer but it dose.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #63,051
  • Apr 27, 2008 4:15am Apr 27, 2008 4:15am
Quoting Bones
Ok Turv I don’t want to go on about it as we have more than covered the subject.
Just you did bring it up when you thought to open the monthly was not correct.
If you can make money on the 1 min it that is great mate.
Didn't say not correct, merely far from keeping it simple, over complicating things creates indecision in book or errors.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #63,052
  • Apr 27, 2008 4:48am Apr 27, 2008 4:48am
lets not talk about time frames anymore, cable thread and about where its going.....all this is going of topic, and getting stupid
  • #63,053
  • Apr 27, 2008 5:42am Apr 27, 2008 5:42am
Quoting Bones
Its going great ,I mean the last month has been a little difficult lets say as I have struggled with the bearish look of the charts and my more bullish fundamental view on this pair so I found it difficult to short/buy when the clear signals were there.
Yea I had a little look into that last night and it seems your right on the rates Salah.I do also notice the calander is jam packed.
How you doing how’s the live trading/account going mate.
the calendar is jam packed indeed

its gonna be one rough ride next week

my trading went well only the first couple of weeks and then i suffered a really big loss that made me lose almost my entire profit in one freakin position so now im playing it slow
trying to get my nerve back after that big loss.

all the best mate.
keep up the great analysis.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #63,054
  • Apr 27, 2008 6:36am Apr 27, 2008 6:36am
This might give you all some idea about what I can see on a small T/F. I have pulled in my data to show you how I get my entries. See how when the 89 Smoothed is crossed it acts as a trendline. The last thing it has told me is that double top at R2 and it may head back to the Daily Pivot again which is about 70 pips. But I need more eveidence than that since it is entangled in the telephone wire configuration of the 89 Smoothy. Sunday night I will look for a signal to go short to the DPP and a break of the 89. But notice how the pair respects this configuration once it has crossed it and if you use Daily Pivot points that is just more confirmation. The first shaded ellipse was how I saw that move don we had Wednsday thru Thursday morning and the 2nd is the Friday move up. We will either bounce here or break thru and that is what I am waiting for. But right now I am thinking a break and back to DPP. The second chart is just to how you how the price reacts to this indicator, pretty neat isn't it.

Jim

Jim
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  • #63,055
  • Apr 27, 2008 6:41am Apr 27, 2008 6:41am
Quoting Turveyd
Taking into account 1 MONTH charts to gauge Day trading positions, I have truely seen it all know!!
Ok last word on it ,as I said the discussion was kicked off by this.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #63,056
  • Apr 27, 2008 9:18am Apr 27, 2008 9:18am
Quoting Bones
Ok last word on it ,as I said the discussion was kicked off by this.
and the 2000 previous, OMG you can't trade M1 move to higher TF's NO!!!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #63,057
  • Apr 27, 2008 9:56am Apr 27, 2008 9:56am
EDINBURGH, Scotland - Hundreds of workers at Scotland's only oil refinery on Sunday began a 48-hour strike that has forced BP PLC to shut a pipeline system that delivers almost a third of Britain's North Sea oil



http://news.yahoo.com/s/ap/20080427/...efinery_strike

now lets see of this changes anything short term
Don't chase the market, Let the market come to you
  • #63,058
  • Apr 27, 2008 9:57am Apr 27, 2008 9:57am
Holds shorts on the strength of the possibly impending, panic buying and chaos could be a good play, but ??
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #63,059
  • Apr 27, 2008 10:54am Apr 27, 2008 10:54am
BEOVB price action on my weekly chart for whos looking to traid this pair

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  • #63,060
  • Edited 1:01pm Apr 27, 2008 11:43am | Edited 1:01pm
Quoting warta
BEOVB price action on my weekly chart for whos looking to traid this pair

Attachment

http://www.forexfactory.com/showthre...10372&page=498

that goes here
Don't chase the market, Let the market come to you
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