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Cable Update (GBPUSD)

  • #140,921
  • Jun 29, 2009 1:20pm Jun 29, 2009 1:20pm
Quoting Pollux
Hi! Which is the best time to set pivot points? oo:oo gmt or NY open for GBP/USD?
Since I've been trading strictly with pivots I use 00:00GMT and never adjust it. If they calculate and I dont like what I see, I try and ignore them.

When in doubt, use simple support and resistance. When these line up with a pivot or fib, =)
  • #140,922
  • Jun 29, 2009 1:23pm Jun 29, 2009 1:23pm
Quoting Pollux
Thanks a lot .
Very good video for pivots. This is what got me started.

http://transcripts.fxstreet.com/2008...utional-t.html
  • #140,923
  • Jun 29, 2009 1:23pm Jun 29, 2009 1:23pm
I read somewhere that both US and UK banks were starting to set all their server times to converge at midnight GMT. Did anyone else read that and do you know where I can find the article?
  • #140,924
  • Jun 29, 2009 1:24pm Jun 29, 2009 1:24pm
i am hedging now .. @ 1.6534 short
and @ 1.6577 long with same amout
any idea how to get out of this trouble
it is my first time to hedge !!!
THE CREATOR AND OWNER OF S.N.M "Serve no Master" Trading Stystem
  • #140,925
  • Jun 29, 2009 1:25pm Jun 29, 2009 1:25pm
Quoting negro wolf
i am hedging now .. @ 1.6534 short
and @ 1.6577 long with same amout
any idea how to get out of this trouble
it is my first time to hedge !!!
close them both in profit if you can. hedging is not a very good game to play.
  • #140,926
  • Jun 29, 2009 1:28pm Jun 29, 2009 1:28pm
Quoting jack.canadia
close them both in profit if you can. hedging is not a very good game to play.

how to close both in profits
one is -14 long
other is -30 short
THE CREATOR AND OWNER OF S.N.M "Serve no Master" Trading Stystem
  • #140,927
  • Jun 29, 2009 1:30pm Jun 29, 2009 1:30pm
Quoting negro wolf
how to close both in profits
one is -14 long
other is -30 short
No idea then. I dont hedge, all you do is lock in losses.
  • #140,928
  • Jun 29, 2009 1:32pm Jun 29, 2009 1:32pm
Watch this too

http://transcripts.fxstreet.com/2009...ot-points.html
  • #140,929
  • Jun 29, 2009 1:38pm Jun 29, 2009 1:38pm
Quoting jack.canadia
Watch this too

http://transcripts.fxstreet.com/2009...ot-points.html
Thanks to all.

I will watch them both.
  • #140,930
  • Jun 29, 2009 1:50pm Jun 29, 2009 1:50pm
Quoting malcolmb14
I use london open .. most of volume comes london and us and also price action , so i set daily pivots and my volume histogram to start then
Hi friend ... Trading Pivot is also my favourite system now. May you explain what is histogram and why you use it as the worthy indicator ?

Thanks !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #140,931
  • Jun 29, 2009 2:00pm Jun 29, 2009 2:00pm
Quoting negro wolf
i am hedging now .. @ 1.6534 short
and @ 1.6577 long with same amout
any idea how to get out of this trouble
it is my first time to hedge !!!

I see 2 options for you;
1- cut losses and forget about it
2- Try to get the long out first at the next reject of the 1.6580 level and open a short to try to average your short position. Now that's risky too in case it breaks out.

Only an opinion, I rarely use hedging, but that's how I would deal with yours. GL
Better safe than sorry
  • #140,932
  • Jun 29, 2009 2:02pm Jun 29, 2009 2:02pm
Are there any Oanda users who use pivot points off the Oanda platform?
Please PM me... I could use some help setting it up correctly.

THANKS for everyone's great input on this thread!
  • #140,933
  • Jun 29, 2009 2:04pm Jun 29, 2009 2:04pm
20GMT, my intra day trade cut-off time. Took 104pips on the long trade for the day.

Hope tomorrow is a good bull run again around the London session again.
  • #140,934
  • Jun 29, 2009 2:04pm Jun 29, 2009 2:04pm
Quoting manize
Hi friend ... Trading Pivot is also my favourite system now. May you explain what is histogram and why you use it as the worthy indicator ?

Thanks !
i do not use p[rice pivots i use volume pivots.

here is the volume histogram for gu today

lower value area , vwap , point of control ( max transfer buyers to sellers) , upper value area

also of note is last session value area and the high volume pivots for last 20 days . These form s/r.

I trade using volume only and these levels are part of my trading zones as they tell me where the last s/r zones are and if todays price action is bullish , bearish or ranging (above yesterdays upper value area= bullish) , below vearish , ranging between upper and lower value area = ranging day

2nd chart is form last week. Note how the pink line ( point of control ) formed support


Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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Blogging daily now at www.volume.zone
  • #140,935
  • Jun 29, 2009 2:07pm Jun 29, 2009 2:07pm
Quoting negro wolf
i am hedging now .. @ 1.6534 short
and @ 1.6577 long with same amout
any idea how to get out of this trouble
it is my first time to hedge !!!

hope we get small shake out before tokyo to get rid of the sell hdge in profit , 1.6520 zone would be good . Then hold onto the long one for test of 1.6600 later
Blogging daily now at www.volume.zone
  • #140,936
  • Jun 29, 2009 2:08pm Jun 29, 2009 2:08pm
Quoting malcolmb14
not typical. It is you not the markets .... sorry but you are your own worst enemy. The 15 min chart of ej clearly shows the uptrend and buying dips is only way to go right now. The ES is pushing thru highs of day

also off topic but did you notice the inverse h and s 4 hour and the fact that you are trying to sell of the neckline when price on 1 hour say more up to 135.5 / 136 maybe even higher to 138

Attachment

Yep I was at a client on the laptop using my mobile connection, but only gave back my previous trade, mistakes happen.

My GU short worked for @30pips though, sadly I chose to play with fire.

On learning money so no biggy at this stage.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #140,937
  • Jun 29, 2009 2:12pm Jun 29, 2009 2:12pm
high volume pivots up close .. this is gj chart I have been on all day

this is why i like the high volume pivoits and the volume histogram , when coupled with VSA. Deadly.

Attached Image (click to enlarge)
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Blogging daily now at www.volume.zone
  • #140,938
  • Jun 29, 2009 2:23pm Jun 29, 2009 2:23pm
6580 seems to be the level to get an hourly close above. we're coming up on the close of US equties in NY so I dont expect much.

Its a big news week so as we progress things will become a bit more clear.
  • #140,939
  • Jun 29, 2009 2:30pm Jun 29, 2009 2:30pm
Hello Malcolmb

Can I ask you what ES mean? Where can I find more info about it?

Thank you very much,
LT
Quoting malcolmb14
why short something that is liekly to go another 100 pips in tokyo ??? buying dips is way to go on gu , gj and ej today.

ES is rocking 925 test coming no signs sellers .. not a day to be trying to fade the trend on the crosses off a 1m in chart IMHO
Discomfort and profit often stand side by side
  • #140,940
  • Jun 29, 2009 2:33pm Jun 29, 2009 2:33pm
Quoting LondonTrader
Hello Malcolmb

Can I ask you what ES mean? Where can I find more info about it?

Thank you very much,
LT

I trade futures along side forex .... if forex not working i hop on to trade the ES. This is the s&p emini. A much more regulated market.
Blogging daily now at www.volume.zone
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