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Cable Update (GBPUSD)

  • #145,361
  • Jul 11, 2009 9:27pm Jul 11, 2009 9:27pm
Quoting lexazver
damn man you are fast i try to stay away from computer during the weekends but i find myself back staring at the charts.
today hotter than hell here ..will got out this evening , but been hanging in shade on computer and PlayStation playing call of duty 5 ...
Blogging daily now at www.volume.zone
  • #145,362
  • Jul 11, 2009 10:07pm Jul 11, 2009 10:07pm
Quoting 5abi
I always thought Fosters was Australian for beer lol and paid a premium to buy that but only realized recently that it is brewed here locally and is no import and Australians wont even consider it Australian

BTW I am PLAN to be long AUSSIE-DOLLAR http://www.forexfactory.com/showpost...ostcount=12993
be very careful ... something does not look right

why was the max volume on 30 min in the up candle and then instantly price went down next candle. Honestly this is sellers hitting the market. Think the 2.5 million trade went thru on the sell for a 40 pip trade ? not likely

Attached Image (click to enlarge)
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Blogging daily now at www.volume.zone
  • #145,363
  • Jul 11, 2009 10:24pm Jul 11, 2009 10:24pm
I am betting on a consolidation this week, with the earning reports for big cos due this Friday next. I am thinking 77 will be hard to break until then, if at all we break.

Quoting malcolmb14
be very careful ... something does not look right

why was the max volume on 30 min in the up candle and then instantly price went down next candle. Honestly this is sellers hitting the market. Think the 2.5 million trade went thru on the sell for a 40 pip trade ? not likely

Attachment
Its all in the mind.
  • #145,364
  • Jul 11, 2009 10:27pm Jul 11, 2009 10:27pm
just an alternative theory- may be traders closing their positions just before the market close on a weekend? Volume does stand out at this moment.

Quoting malcolmb14
be very careful ... something does not look right

why was the max volume on 30 min in the up candle and then instantly price went down next candle. Honestly this is sellers hitting the market. Think the 2.5 million trade went thru on the sell for a 40 pip trade ? not likely

Attachment
Its all in the mind.
  • #145,365
  • Jul 11, 2009 11:18pm Jul 11, 2009 11:18pm
Quoting malcolmb14
momentum trader ? you mean day trader ? if so not to brag beat you by alot and that is not including swing trades , 1000 pip for month is ONLY 50 pips a day and that is not including Sundays.

Not to discount your 1000 pip .. it is awesome !!!!

but there are many way to skin a cat .On the GJ the daily movement Friday alone on a 5 min chart was 550 pips in the us session alone. All you need is one trade of 50 pip out of that as a day trader

as a day trader I can wake up have coffee. . go to gym hit market by 6 am my time , trade till 8 am and...
I agree with on what your are saying,
still when you get a 500pip signal from a 5min chart it is because you will have the signal also on higher time frame the 5min will get you in the trade a bit earlier. every single move have to started from the 1min chart.

what we are saying is trying to scalp short time frame make you more at risk as matter of where the market is going then using higher time frame, and too many newbie think they will go faster by scalping short time frame and fall in the emotion trap. when you have a full screen 5min chart in front of you a 25 pip move will look like a 100pip move and then you get exited and make a bad move.

  • #145,366
  • Jul 11, 2009 11:28pm Jul 11, 2009 11:28pm
I agree, I would see a pullback to around 1.6300, will need to wait about 12-16hrs for the 4hr to develop, signs of it dropping thereafter to retest 1.6000 again.

Quoting forexlion
malcolmb sees a drop open on monday and 1 hour tells me otherwise, so ......
PM Me If You Need Help!
  • #145,367
  • Jul 11, 2009 11:42pm Jul 11, 2009 11:42pm
My charts (sorry can't show you guys) shows the following:
Bullish / Bearish / Neutral

M1: Bearish
M5: Neutral
M15: Bullish
M30: Neutral
H1: Bearish
H4: Neutral
D1: Bearish
W1: Bullish
MN: Neutral

Just to let you guys know, I am not just making this up. Based on what I see here's what I see happening...

We open on Sunday possibly with a gap down. Whether it gaps down or not doesn't matter, but GU is likely to reach about 1.618X. From there we'll probably see a bounce up to about 1.63XX, but no more than 1.6450. Soon after that I'm expecting some major dropping to around 1.5550-1.5750. I can't tell what will happen after that.

Another note... H4 is turning bearish. Also, don't trade on this. Do your own research!

Just my $0.02
  • #145,368
  • Jul 12, 2009 12:25am Jul 12, 2009 12:25am
Now there is too many lions and tigers around here so I am out now
Its all in the mind.
  • #145,369
  • Jul 12, 2009 2:15am Jul 12, 2009 2:15am
Quoting malcolmb14
bye bye 1.6 ... 1.5 and maybe even 1.4

look at this volume cluster right under the 38 % retrace of the down move 38% ONLY !!!! .. not 50 not 61,8 ... 38 % .. the bearish down trend is about to continue . May take another 2-4 weeks to play out but it is on us.

This volume cluster of sellers was higher than before drop from 2.1000. What do the pros know that we do not ?

Attachment

Hi Malcom,

I must admit VSA confuses the hell out of me - Fo insatance if a lot of pro sellers enter the market as portrayed by your volume bar then I would expect price to tank.

Conversely if all those pros have sold - they can't sell anymore so will be looking to buy, when/if they re-enter the market, which will send the price up?

I realise that this is probly a naive and simplistic view of VSA but would appreciate your take.
  • #145,370
  • Jul 12, 2009 2:25am Jul 12, 2009 2:25am
Quoting 5abi
just an alternative theory- may be traders closing their positions just before the market close on a weekend? Volume does stand out at this moment.
30 min after us indexes opened ???? ...
no something is going on ..someone knows something
Blogging daily now at www.volume.zone
  • #145,371
  • Jul 12, 2009 2:28am Jul 12, 2009 2:28am
Quoting stewrigh
Hi Malcom,

I must admit VSA confuses the hell out of me - Fo insatance if a lot of pro sellers enter the market as portrayed by your volume bar then I would expect price to tank.

Conversely if all those pros have sold - they can't sell anymore so will be looking to buy, when/if they re-enter the market, which will send the price up?

I realise that this is probly a naive and simplistic view of VSA but would appreciate your take.
pros will never run out of money . If they are not buyers only so many retail buyers can hold the market up...markets can drop under low volume , all the pros will do is move the bid down faster .. that is what happens on large drops. Those same pros / banks that are short at 1.6000 will control what goes on the market on a daily basis
Blogging daily now at www.volume.zone
  • #145,372
  • Jul 12, 2009 3:11am Jul 12, 2009 3:11am
Quoting malcolmb14
pros will never run out of money . If they are not buyers only so many retail buyers can hold the market up...markets can drop under low volume , all the pros will do is move the bid down faster .. that is what happens on large drops. Those same pros / banks that are short at 1.6000 will control what goes on the market on a daily basis
Thanks Malc,

Still need to get my head round the fact that the pros are different - i.e. the CB's and they can and do control the market or price.
  • #145,373
  • Jul 12, 2009 3:48am Jul 12, 2009 3:48am
hai all i'm new in trader ,
can some one share info or indicator ....
  • #145,374
  • Jul 12, 2009 4:22am Jul 12, 2009 4:22am
Quoting malcolmb14
Monday thru US session ? you are on ......
Done deal..... catch you Monday around London to US session.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #145,375
  • Jul 12, 2009 7:02am Jul 12, 2009 7:02am
Quoting malcolmb14
5 min chart with very clear trades ..... not that hard but have to think fast

one of my buddies has a trading room ... not going to mention it ... but I was guest trader Friday and we did do the 150.50 short for 140 pip and sold off bounce into 149.70 for 149

Attachment
Hi
please what means this broad aqua line in chart ?? is just last swing low as resistence level ??? an green and brown lines same ???
and pleas text P-POC in rigt box means ...previously day point of control ??
Thank
  • #145,376
  • Jul 12, 2009 7:27am Jul 12, 2009 7:27am
I have analized 1/2hr , 1hr, 4hr, daily, weekly charts on gu
all except weekly shows me that we are going up. the only thing i worry its a div on GU and GJ weekly- anyway as for intraday i ignore it. my first tp is 1.637 i will particularly take profit there. But i expect more from GJ
see picture below (UJ 4HR) that is why i will also long UJ

ps. trade as per your own plan! I might be wrong.

many thanks to traders like Malcolmb14, bull_bear... You guys keep this threads alive and interesting
  • #145,377
  • Jul 12, 2009 7:39am Jul 12, 2009 7:39am
Quoting youratthesun
hai all i'm new in trader ,
can some one share info or indicator ....
Here are some advises i got in the beginning when i was looking for the "Holy Graal" indi. (I remember i was angry cause i got this replies instead of what i asked but time passed and i understand how good those advises)

1) learn to draw and read trendlines. I mean how it born. Start drawing on 15mn TF a channel then go to a higher TF when trendline channell in 15mn tf will be broken and so on.
2)learn to read divergence (for possible trend death) (again - 15mn, 1 hr, 4 hr)
3) draw a support resistance lines
4) build up your own strategy
5) There is no holy graal indi's all works on some conditions and it may even give opposite signals i mean one interpreet it 1 way the other the other way. they should be just tools in you TRADING STRATEGY.

ps. sorry for my poor english )))
  • #145,378
  • Jul 12, 2009 7:50am Jul 12, 2009 7:50am
i am very bearish for gu at the moment i dont really see 1.63xx again maybe 1.627X i do see a test of 1.595X very soon i dont like long for the time being maybe wait to get a better short price but thats it. just my view please share yours
  • #145,379
  • Jul 12, 2009 7:53am Jul 12, 2009 7:53am
hai guys....what u all suspect for tomorrow..cable will go down?....ehee...if break 1.6620 i suspect will go up but if still below...black hawk down menn... traget 1.5690...wait on monday....cable market open.... its just my dream..eheee
be patient, self-belief and discipline... stay focus...
  • #145,380
  • Jul 12, 2009 7:55am Jul 12, 2009 7:55am
Quoting kuzey
I have analized 1/2hr , 1hr, 4hr, daily, weekly charts on gu
all except weekly shows me that we are going up. the only thing i worry its a div on GU and GJ weekly- anyway as for intraday i ignore it. my first tp is 1.637 i will particularly take profit there. But i expect more from GJ
see picture below (UJ 4HR) that is why i will also long UJ
ps. trade as per your own plan! I might be wrong.

many thanks to traders like Malcolmb14, bull_bear... You guys keep this threads alive and interesting
sorry forgot to attach )
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