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Cable Update (GBPUSD)

  • #116,681
  • Jan 30, 2009 12:17pm Jan 30, 2009 12:17pm
Quoting fourxtrader
Trade the GU only using the 4H 5EMA's (high and low)

Check this thread.... and end the rat race of scalping.
Only need to monitor the charts every 4 hrs and adjust
the trade according to the rules as outlined in the thread.

Almost always in a trade either short or long. Close on weekends.

Some are exploring a modified system by trading...

Just closed my 1.4297 long @ 1.4465 at ~ daily resistance
level 2 for 168 pips before my target of 1.4497.

This 4 H 5EMA system simply asks you to place your brain
on the shelf and let the mechanical system do the work.

I have a hard time with that... eliminating the emotions.

There ya go... I should have left the trade on and I'd be up another
20 pips towards my 200 pip target.

Well, I'm learning this boring emotionless method.

The rules of engagement call for closing trades 5 min before the broker
closes on Fridays. I've got to leave so I ended the trade now.

I'll study more over the weekend.

http://www.forexfactory.com/showthread.php?t=111623

Check out El Dee's rules review in post 2772 4 Hr and post 2741 Daily.

Dr. D.
  • #116,682
  • Jan 30, 2009 12:33pm Jan 30, 2009 12:33pm
Quoting Professor4x
Stochastic Slow

The blue line represents the current market price and the red line is 5 day moving average price using the 5,5,5 pks parameters.
In simple terms, George Lane's stochastic oscillator measures the current currency price compared to its historical price for a given time period. This study is one of the most commonly followed indicators in the FX market. It measures the degree by which a currency is overbought or oversold. The scale for the indicator is...
Thank you bro, very worthy explanation !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #116,683
  • Jan 30, 2009 1:31pm Jan 30, 2009 1:31pm
Quoting macK
one thing, before closing watch the 30m chart. it may come back down to around 435 or so before returning on it's climb. I have a short open just now looking for that number by the end of the day.. if it gets close to the close of the market for the weekend, will close the trade just before closing.

But i also feel, like Pip, it will not return to the lows again of the day...

hang in there....
well said!
  • #116,684
  • Jan 30, 2009 1:34pm Jan 30, 2009 1:34pm
WTF was that... 35 pips in 3 minutes.. come on... I also had a short open still... looking for a few pips.. was just turning positive.. and BAM....


Quoting macK
one thing, before closing watch the 30m chart. it may come back down to around 435 or so before returning on it's climb. I have a short open just now looking for that number by the end of the day.. if it gets close to the close of the market for the weekend, will close the trade just before closing.

But i also feel, like Pip, it will not return to the lows again of the day...

hang in there....
DireXiv Make it happen, no one else is going to do it for you...
  • #116,685
  • Jan 30, 2009 1:54pm Jan 30, 2009 1:54pm
Anyone plan on holding a position through the weekend?
Just digging in the trenches like everyone else!
  • #116,686
  • Jan 30, 2009 1:55pm Jan 30, 2009 1:55pm
Nopers.
There's always money in the banana stand.
  • #116,687
  • Jan 30, 2009 1:56pm Jan 30, 2009 1:56pm
i finished postive on the month but today was very bad day for my trades

incase any1 is interested...

to give me some pointers
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  • #116,688
  • Jan 30, 2009 2:00pm Jan 30, 2009 2:00pm
im still holding short . let see next week how it play..not ready for long yet .
what ur plan EO
  • #116,689
  • Jan 30, 2009 2:04pm Jan 30, 2009 2:04pm
Quoting Professor4x
Stochastic Slow

The blue line represents the current market price and the red line is 5 day moving average price using the 5,5,5 pks parameters.
In simple terms, George Lane's stochastic oscillator measures the current currency price compared to its historical price for a given time period. This study is one of the most commonly followed indicators in the FX market. It measures the degree by which a currency is overbought or oversold. The scale for the indicator is...
Very Good Professor,Loud and Clear.
Keep posting more trading systems.
After all.......We are here to learn how trade FX the real way.
So...Can WE trade FX with Professor4X????? YES......WE CAN!!!!!
  • #116,690
  • Jan 30, 2009 2:05pm Jan 30, 2009 2:05pm
Quoting cikos
im still holding short . let see next week how it play..not ready for long yet .
what ur plan EO
I'm flat currently. I do not like to hold positions through the weekend, but I will say, I would take one short at 4500 (TINY ONE) if we should see that price again today and hold it through the weekend for the giggles of it.
Just digging in the trenches like everyone else!
  • #116,691
  • Jan 30, 2009 2:05pm Jan 30, 2009 2:05pm
Quoting eohater
Anyone plan on holding a position through the weekend?

Im holding short thru the weekend from 1.4476
  • #116,692
  • Jan 30, 2009 2:08pm Jan 30, 2009 2:08pm
Quoting joemiami
Im holding short thru the weekend from 1.4476
It could be a nice gap in your favor! This is going to be very interesting indeed!
Just digging in the trenches like everyone else!
  • #116,693
  • Jan 30, 2009 2:09pm Jan 30, 2009 2:09pm
Quoting eohater
Anyone plan on holding a position through the weekend?
yep - holding that short from earlier
took 80+ over the other one from 1460
maybe i should closed the other at the same time,
but still long term trend in down - not worried
  • #116,694
  • Jan 30, 2009 2:13pm Jan 30, 2009 2:13pm
im also still target for down trend .bcoz for daily candle still in range . but in fx anything can happen .
  • #116,695
  • Jan 30, 2009 2:14pm Jan 30, 2009 2:14pm
Quoting golatigo
yep - holding that short from earlier
took 80+ over the other one from 1460
maybe i should closed the other at the same time,
but still long term trend in down - not worried
Today's action was so opposite of what she should have done. I wouldn't be surprised to see her gap down on Sunday for the correction of this movement. On the other side of the road though, I do see 485x over the horizon. Either way, we'll trade her both directions.
Just digging in the trenches like everyone else!
  • #116,696
  • Jan 30, 2009 2:23pm Jan 30, 2009 2:23pm
Price action very strange each time it goes down one pip it jumps back up!!!!
it looks like there is something some news we don't know about yet.
there should be at least a retrace little selling before the close, nothing till now even we will see rates down from UK probably next week.
  • #116,697
  • Edited 2:34pm Jan 30, 2009 2:23pm | Edited 2:34pm
Quoting eohater
Today's action was so opposite of what she should have done. I wouldn't be surprised to see her gap down on Sunday for the correction of this movement. On the other side of the road though, I do see 485x over the horizon. Either way, we'll trade her both directions.
I have a small short from 4360. Have feelings to close it, but it's going down now. Not a big money, but if...
Eo, what's your TP if south ride will happen?

F..k it! I closed this short. Lost about 90 pips.
There is something strange, some game which big guys playing. May be because of coming cut rate form BOE.
They are pushing the price for pound.
  • #116,698
  • Jan 30, 2009 2:35pm Jan 30, 2009 2:35pm
Have a good weekend everybody.
  • #116,699
  • Jan 30, 2009 2:36pm Jan 30, 2009 2:36pm
Quoting Komissar
I have a small short from 4360. Have feelings to close it, but it's going down now. Not a big money, but if...
Eo, what's your TP if south ride will happen?
Well, I'm not in it, but if I did get the position of 4500 to go south, I would be taking profit around 2hours after opening on Sunday, should be hundred + pips on that move. Let her fill her gap, then hit her again with a short and manage the move.
Just digging in the trenches like everyone else!
  • #116,700
  • Jan 30, 2009 2:37pm Jan 30, 2009 2:37pm
Awesome week. Later, Gators.
There's always money in the banana stand.
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