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  • #4,501
  • Jul 21, 2008 11:02pm Jul 21, 2008 11:02pm
Quoting GreatYves
This speach: 4:45 GBP http://www.forexfactory.com/images/m...mpact_high.gif BOE Governor King Speaks
must be big because absolutly nothing is happening during this asian session. Technicaly, if we follow bearish channel, it`s time for short. So , you would put a limit short order at around 2.0010?

The previous candles low it would be a confirmation that price rejected the swing fibb and its attemting a bigger retracement (2.0010 would be to late...)...we are also in bullish channel since we borke out of the bearish one today....
We are in bullish big one (green one ) red one is the most recent one....


The anouncement seems bearish as well....
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  • #4,502
  • Jul 21, 2008 11:56pm Jul 21, 2008 11:56pm
I am currently in a short trade and treating like a scalp since its against the intraday levels....Price action action will tell me either to hold or not. Time will tell ...

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  • #4,503
  • Jul 22, 2008 12:09am Jul 22, 2008 12:09am
Bobokus...Fantastic stuff! Thanks for making the effort and sharing this great info!









Quoting Bobokus
I added another video of my trades last night and early this morning, Looks as if I stopped a little too soon today, 2.0033 was tested. There is always tomorrow. I traded off the last chart I posted here. The video had to be split into 2 parts since it was too large of a file for 1 single video. I also put the links for these 2 on the first page of the thread.

http://www.youtube.com/watch?v=U_U-MjqgOCI Part 1
http://www.youtube.com/watch?v=oIysSrP-Hgk Part 2

I had to do alot of editing to get these to fit on youtube but I think most of whats left will be understandable....and dont laugh I was half asleep for some of this.
  • #4,504
  • Jul 22, 2008 3:11am Jul 22, 2008 3:11am
Thanks for taking the time to do the video's Bo its V much appreciated.
Tone


Quoting Bobokus
I added another video of my trades last night and early this morning, Looks as if I stopped a little too soon today, 2.0033 was tested. There is always tomorrow. I traded off the last chart I posted here. The video had to be split into 2 parts since it was too large of a file for 1 single video. I also put the links for these 2 on the first page of the thread.

http://www.youtube.com/watch?v=U_U-MjqgOCI Part 1
http://www.youtube.com/watch?v=oIysSrP-Hgk Part 2

I had to do alot of editing to get these to fit on youtube but I think most of whats left will be understandable....and dont laugh I was half asleep for some of this.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #4,505
  • Jul 22, 2008 8:03am Jul 22, 2008 8:03am
this sudden direction change in g/u shock me......anybody has any idea why this happen
  • #4,506
  • Jul 22, 2008 8:12am Jul 22, 2008 8:12am
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
Quoting xscamx
this sudden direction change in g/u shock me......anybody has any idea why this happen
Paulson's speech - Mentioned inflation and a possible rate hike will come sooner than later.

I'm curious which candle's Bo had his sell stop below. Bo if you have time today could you walk us through this trading day? I had a proper entry with the opening above intraday highs and entered on the test of highs at 2.0044 and managed to come out with 27 pips before the announcements today but I didn't know at what point I should be reversing position.
"Wishful thinking dies hard." Igor T.
  • #4,507
  • Jul 22, 2008 8:42am Jul 22, 2008 8:42am
Quoting FxChi
Paulson's speech - Mentioned inflation and a possible rate hike will come sooner than later.

I'm curious which candle's Bo had his sell stop below. Bo if you have time today could you walk us through this trading day? I had a proper entry with the opening above intraday highs and entered on the test of highs at 2.0044 and managed to come out with 27 pips before the announcements today but I didn't know at what point I should be reversing position.
Slept through the London session so I ended up selling the low of the 1100 candle. 2.0037
  • #4,508
  • Jul 22, 2008 8:59am Jul 22, 2008 8:59am
Here is my entry point
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  • #4,509
  • Jul 22, 2008 9:21am Jul 22, 2008 9:21am
Quoting Shermenator
I am currently in a short trade and treating like a scalp since its against the intraday levels....Price action action will tell me either to hold or not. Time will tell ...

Attachment
I was short to 9987 but got stop too.. Another 1% down the drain..I love my MM.
Harmonics and Pitchfork using korHarmonics from TradingArsenal
  • #4,510
  • Jul 22, 2008 9:24am Jul 22, 2008 9:24am
Quoting Bobokus
Here is my entry point
Just got short 9965.
Harmonics and Pitchfork using korHarmonics from TradingArsenal
  • #4,511
  • Jul 22, 2008 9:41am Jul 22, 2008 9:41am
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
Quoting Bobokus
Here is my entry point
OK I see you followed closely behind the candles and didn't give it a few pips below. Interesting. I was thinking reversing there too would've been good, but that was past resistance now support so that was my dilemna. I see the reasoning behind it though, so thanks for showing us and the video's too.
"Wishful thinking dies hard." Igor T.
  • #4,512
  • Jul 22, 2008 10:26am Jul 22, 2008 10:26am
Quoting FxChi
OK I see you followed closely behind the candles and didn't give it a few pips below. Interesting. I was thinking reversing there too would've been good, but that was past resistance now support so that was my dilemna. I see the reasoning behind it though, so thanks for showing us and the video's too.

When I saw the action going on I didnt wait this entry was manual. Missed it going up yesterday...didnt miss it going back down. No target set I will let the market take me out of this one.
  • #4,513
  • Jul 22, 2008 6:15pm Jul 22, 2008 6:15pm
We have a bearish intraday and price is attempting a retrcement. I could been long in this when the previous cnadles high broke but it is simply to early and theirs no momentum. Price is attempting the pullback back to our intraday levels and keep in mind the bullish channel broke. Also keep in mind we still have the support pivot below us at price 1.9899 and on the fundamental side that it has been heard that interest rates shold be raised soon for the usd.

Seems like the dollar is coming back and I also read an article that said (Treasury Secretary Henry voiced support for the currency and the Federal Reserve Bank of Philadelphia president said interest rates should be raised).

Read this I got this from Bloomberg

http://www.bloomberg.com/apps/news?p...refer=currency

And read this is Bad for the GBP it said Britain's economic growth will probably slow to 1.6 percent this year and 1.3 percent in 2009.

http://www.bloomberg.com/apps/news?p...&refer=economy

Attached Image (click to enlarge)
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Let me know you opinion BOBOKUS thanks.
  • #4,514
  • Jul 22, 2008 9:12pm Jul 22, 2008 9:12pm
Quoting Shermenator
We have a bearish intraday and price is attempting a retrcement. I could been long in this when the previous cnadles high broke but it is simply to early and theirs no momentum. Price is attempting the pullback back to our intraday levels and keep in mind the bullish channel broke. Also keep in mind we still have the support pivot below us at price 1.9899 and on the fundamental side that it has been heard that interest rates shold be raised soon for the usd.

Seems like the dollar is coming back and I also read an article that said (Treasury Secretary Henry voiced support for the currency and the Federal Reserve Bank of Philadelphia president said interest rates should be raised).

Read this I got this from Bloomberg

http://www.bloomberg.com/apps/news?p...refer=currency

And read this is Bad for the GBP it said Britain's economic growth will probably slow to 1.6 percent this year and 1.3 percent in 2009.

http://www.bloomberg.com/apps/news?p...&refer=economy

Attachment

Let me know you opinion BOBOKUS thanks.
Still I would wait and see what happens as the next sessions get going.
  • #4,515
  • Jul 23, 2008 12:26am Jul 23, 2008 12:26am
You re such a good trader and i respect you but i think you should stop predicting movement, but trade according to wot you see on the chart.

predicting movement will set your mind in one direction and if mkt sentiment changes ahead of you, u will find it difficult to change bcoz ur mind has been pre-conditioned to one direction.

I have stopped doing that cause it has made me to miss so many opportunity.

thanks
  • #4,516
  • Jul 23, 2008 12:38am Jul 23, 2008 12:38am
I never notice but fibocalcv31 have been fixed reprogrammed it now keep the previous intraday level instead of the present day. You may find it here.
Harmonics and Pitchfork using korHarmonics from TradingArsenal
  • #4,517
  • Jul 23, 2008 1:06am Jul 23, 2008 1:06am
Quoting Naijafx
You re such a good trader and i respect you but i think you should stop predicting movement, but trade according to wot you see on the chart.

predicting movement will set your mind in one direction and if mkt sentiment changes ahead of you, u will find it difficult to change bcoz ur mind has been pre-conditioned to one direction.

I have stopped doing that cause it has made me to miss so many opportunity.

thanks
Yep I agree my freind...I am working on that.
  • #4,518
  • Jul 23, 2008 1:09am Jul 23, 2008 1:09am
Quoting GreatYves
No magic way to say, but determining volatility of the market is key. One way to look at it is ADX, if ADX is over 25 pair is trending, if it`s under 20 it is ranging. It`s one way to determine market status and minimizing risk. Problem is it lag and won`t show when price will break out. Usually ranging on GBPUSD may last several days to weeks, but even then, you will have some break out here and there. By the way, standard ADX from MT4 is junk but usable , try to find WildersDMI.

You should have 2 trading method, one for trending, one for ranging. There is no one size fit all. That is what i think. One ranging method way could be trade from the 23,6 to the 76,4 but it haven`t been discuss here but i think it should be evaluated.

Here's WildersDMI programmed by Igorad.
Attachment

hey great could you explain how to use this particular indicator...if you dont mind....
  • #4,519
  • Jul 23, 2008 1:18am Jul 23, 2008 1:18am
I am short in GBP/USD let me know what you guys think....

I was expecting a deeper retracement but this is what I did look at my chart..

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  • #4,520
  • Jul 23, 2008 1:52am Jul 23, 2008 1:52am
Yeah I was thinking it was going down an hour ago, but now i am not so sure. Soon know if it takes out 9422 will possibly retrace for a while. The news in 90 min may give us direction
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