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Cable Update (GBPUSD)

  • #127,841
  • Mar 24, 2009 2:39pm Mar 24, 2009 2:39pm
I will take a look at it. So for the trigger, watch for the MA to cross? Which one of the telephone lines do you put the stop?


Quoting donutman_111
The 89 Smoothy is the brainchild of my Mentor, Money Duck. 5 Years ago before the Forex became all the rage or went public, there was a company called Premier Trade that was run by James Dicks. They would charge $2500 to buy their system which worked pretty well, but ended up managing themselves off the charts. The charts were centered around 3 lines we used to call telephone lines. These lines were permanent on the chart and you could tell the long term, short term and mid term trend with a chart change. I came up with the idea of trying to figure...
  • #127,842
  • Mar 24, 2009 2:44pm Mar 24, 2009 2:44pm
Thanks for the charts with the telephone lines on them donutman - they look like a good visual aid, and I'd like to use them, unfortunately I can't open the link, my laptop is a bit dinosaurish so it may be because of that. Anyone else had the same problem?

Eohater - I have just started reading your journal at the weekend, have skimmed some of the PDF and the thread, but keep getting info overload (brain the size of a smartie) will persevere, will just take some time. I presume the principal is the same as donutmans - do you use the MA's in isolation for entries and exits or look for additional confluence?

Thanks for taking the time to share your knowledge, much appreciated
  • #127,843
  • Mar 24, 2009 2:54pm Mar 24, 2009 2:54pm
Quoting annieb
Thanks for the charts with the telephone lines on them donutman - they look like a good visual aid, and I'd like to use them, unfortunately I can't open the link, my laptop is a bit dinosaurish so it may be because of that. Anyone else had the same problem?

Eohater - I have just started reading your journal at the weekend, have skimmed some of the PDF and the thread, but keep getting info overload (brain the size of a smartie) will persevere, will just take some time. I presume the principal is the same as donutmans - do you use the MA's in isolation...

I use the ma's in multiple ways. Take your time, read the pdf, I'm sure it will answer many of your questions. When you get a chance, come on by the thread, we're active during the US Session.
Just digging in the trenches like everyone else!
  • #127,844
  • Mar 24, 2009 2:56pm Mar 24, 2009 2:56pm
All the way on the other side of all 3 plus 10 pips, unless your scalping


Quoting annieb
Thanks for the charts with the telephone lines on them donutman - they look like a good visual aid, and I'd like to use them, unfortunately I can't open the link, my laptop is a bit dinosaurish so it may be because of that. Anyone else had the same problem?

Eohater - I have just started reading your journal at the weekend, have skimmed some of the PDF and the thread, but keep getting info overload (brain the size of a smartie) will persevere, will just take some time. I presume the principal is the same as donutmans - do you use the MA's in isolation...
  • #127,845
  • Mar 24, 2009 3:00pm Mar 24, 2009 3:00pm
I can't open the download ext either... not sure what format its saved in....??
  • #127,846
  • Mar 24, 2009 3:02pm Mar 24, 2009 3:02pm
Do I wait for any candlestick formation when the MAs cross or just enter trade when cross?

Thanks
  • #127,847
  • Mar 24, 2009 3:18pm Mar 24, 2009 3:18pm
Short Closed 1.4665 +95 Pips
  • #127,848
  • Mar 24, 2009 3:23pm Mar 24, 2009 3:23pm
Quoting britnla
I can't open the download ext either... not sure what format its saved in....??
Its a template file for Metatrader.

File>Newchart
Right click on chart Template>load Template>select 'Smoothy' from saved location. Hope that helps! Looks good
  • #127,849
  • Mar 24, 2009 3:23pm Mar 24, 2009 3:23pm
Quoting nedim75
Short Closed 1.4665 +95 Pips
same for me! waiting on a pullback and hopefully another short
  • #127,850
  • Mar 24, 2009 3:26pm Mar 24, 2009 3:26pm
Yes add Price action to it and you are on your way ,try to stick to h4 at least,its difficult i know only to well.
You will observe that 89 is well respected (especially on cable),if you plot the 150ema as used by J16 you will see its very similar the 150 goes from 1 side of the smoothy to the other.




Quoting easyliving
Do I wait for any candlestick formation when the MAs cross or just enter trade when cross?

Thanks
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #127,851
  • Mar 24, 2009 3:30pm Mar 24, 2009 3:30pm
A daily close below 4680/90 will strengthen a bearish outlook for the rest of the week... this is a 38.2% and daily 89 ema
  • #127,852
  • Mar 24, 2009 3:33pm Mar 24, 2009 3:33pm
Lots of traders use it to assess $ strength in general.
You could do this by looking at a lot of currencies against the $ it just much easier to view against all at the same time.
Since the $ is the daddy of currencies it pays to know where its heading.

Quoting britnla
Can I ask how the $$ Index show direction of GBP/USD ??
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #127,853
  • Mar 24, 2009 3:37pm Mar 24, 2009 3:37pm
Thanks for ur replies - Eohater - cheers, I'll bumble on thro, know I sound like ignoramus, I've been using fibs/tl and ib's as my triggers in past and it took me yonks to grasp that, but the ib entry hasn't been working so good lately. My entry is too late so I keep getting freaked out of my trades when losing or caught on wrong side of retracements, rather like, here Oanda - here's my account gift wrapped... don't worry its miniscule...and getting minisculer...I demoed another system for a long time and don't want to go back to demo as even tho its chump change I'm trading with real money, i get the emotion side that isn't there with demo.
maybe its just me and my inexperience, but cable has been so unpredictable recently, major downtrend but, I get the feeling that the downside is limited for now, yet sentiment is hesitant on the upside. Hence its all over the place in the space of an hour. And I've lost both sides of the ticket. I've no confidence in my ability to pick proper entries. Hence my interest in something less discretionary. Once i've waded through ur stuff and got the premise down pat I'll drop by. Thanks.

Donutman - I haven't a scoob what u meant, all the way plus 10 pips? Does that mean the top of days range, add if it breaksout, then you will tighten stops and re-evalute? And you will buy/sell depending on where ur telephone lines are trendwise? Thanks.

Goodluck to all
  • #127,854
  • Mar 24, 2009 3:50pm Mar 24, 2009 3:50pm
The $ is rising ,consolidating,it may break up but has the weight of last weeks sell off on it.
The reversal pattern dose not look strong.
Attached Image (click to enlarge)
Click to Enlarge Name: 150)usdx daily,24 march.gif Size: 20 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #127,855
  • Mar 24, 2009 3:59pm Mar 24, 2009 3:59pm
Possible short trade setup. This is a 4 hour chart showing a divergence in MACD and OSMA after a bounce off a weekly R1 pivot. Confirmation can be taken on a break of the trendline but I am looking for either a pullback to 4700/15 to get ready and then on a 1 minute/5 minute confirmation take a short or a break of the trendline and subsequent pullback to jump on.

Target will be the 4-hour 21 and 55 EMA's, currently at 4545 and 4345 but these will be changed according to the next day's pivots.


Other reasons I will feel safe in this trade:

7770/90 area in the DOW was gapped down from and sold against over two, 1-hr candles.

Dollar index made higher lows and now a higher high and completed a 21/55 EMA cross up.

We hit weekly R1 and Daily R2 today on G/U.

15 min and Hourly MACD bearish divergences on G/U.
Attached Image (click to enlarge)
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  • #127,856
  • Mar 24, 2009 4:09pm Mar 24, 2009 4:09pm
Easier to see the hill the index has on the weekly,it has done well to hold on up to now ,the smallest thing could see it lower ,sentiment is clear ,from candlesticks.
Attached Image (click to enlarge)
Click to Enlarge Name: 150)usdx weekly,24 march.gif Size: 14 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #127,857
  • Mar 24, 2009 4:11pm Mar 24, 2009 4:11pm
I would say the shooting stars wick was not as long as I would like maybe not an actual top,maybe we see a retrace,the weekly close will show the way.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #127,858
  • Mar 24, 2009 5:47pm Mar 24, 2009 5:47pm
Hi
I am newbie but I am not sure that it will move down now, I think if it close above this Daily fibo 23,6 at 1.4719 it would can go up.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd d 23032009.gif Size: 98 KB
  • #127,859
  • Mar 24, 2009 6:47pm Mar 24, 2009 6:47pm
Quoting jack.canadia
Possible short trade setup. This is a 4 hour chart showing a divergence in MACD and OSMA after a bounce off a weekly R1 pivot. Confirmation can be taken on a break of the trendline but I am looking for either a pullback to 4700/15 to get ready and then on a 1 minute/5 minute confirmation take a short or a break of the trendline and subsequent pullback to jump on.

Target will be the 4-hour 21 and 55 EMA's, currently at 4545 and 4345 but these will be changed according to the next day's pivots.


Other reasons I will feel safe in this...
Plan is playing out. In at 4716. Stop at BE now. Ill post my target after 8pm.
  • #127,860
  • Mar 24, 2009 6:55pm Mar 24, 2009 6:55pm
Here it is, one time only example of a bounce long. Stop behind the Yellow. Move stop up as price moves up.

AJ

Quoting annieb
Thanks for ur replies - Eohater - cheers, I'll bumble on thro, know I sound like ignoramus, I've been using fibs/tl and ib's as my



triggers in past and it took me yonks to grasp that, but the ib entry hasn't been working so good lately. My entry is too late so I keep getting freaked out of my trades when losing or caught on wrong side of retracements, rather like, here Oanda - here's my account gift wrapped... don't worry its miniscule...and getting minisculer...I demoed another system for a long time and don't want to go back to demo as...
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 43 KB
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