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Cable Update (GBPUSD)

  • #146,121
  • Jul 14, 2009 11:36am Jul 14, 2009 11:36am
Just curious here. I see folks like wolf and Simone taking shorts at 310 & 309 and such. If your going short, why not take it at the 320 it's been bouncing off of all day?

Is it because at that level, you think it may go higher? Not trying to be a wise guy, just honestly curious.

Quite frankly I'm kicking myself in the butt for not going short off 320 several times now. I must have finger paralysis or something...LOL
Ghost Rider - WWTBMD?
  • #146,122
  • Jul 14, 2009 11:46am Jul 14, 2009 11:46am
Quoting albchr
Just curious here. I see folks like wolf and Simone taking shorts at 310 & 309 and such. If your going short, why not take it at the 320 it's been bouncing off of all day?

Is it because at that level, you think it may go higher? Not trying to be a wise guy, just honestly curious.

Quite frankly I'm kicking myself in the butt for not going short off 320 several times now. I must have finger paralysis or something...LOL
Hey albchr, I missed that entry by a few pips when i went to lunch
Hero Traders Live to see their Accounts Die!
  • #146,123
  • Jul 14, 2009 11:48am Jul 14, 2009 11:48am
Hi Albchr

I think we are very close from the answer to go short or long. One I get confirmation will add the chart, but as you said it is not easy to make the decison - as my fingers paralyis as well. When the trend will be in place then from my point of view we will have a small pull back and we can enter around 63100 (short) i hope

Just waiting when my 4 Simple MA cross 9 EMA - on my H1 chart. No magic...

You one of the Masters here
Regards,
London Trader
Quoting albchr
Just curious here. I see folks like wolf and Simone taking shorts at 310 & 309 and such. If your going short, why not take it at the 320 it's been bouncing off of all day?

Is it because at that level, you think it may go higher? Not trying to be a wise guy, just honestly curious.

Quite frankly I'm kicking myself in the butt for not going short off 320 several times now. I must have finger paralysis or something...LOL
Discomfort and profit often stand side by side
  • #146,124
  • Jul 14, 2009 11:48am Jul 14, 2009 11:48am
Quoting malcolmb14
sorry so let me get this right ... you are looking at 1 hour and trading 1min ?

hope you are a seasoned trader .....specialy where Gj is concerned.
yup..have u heard TRO (The Rumpled One)..I learn this technique @ babypips..But they using 5minit chart..Am using this technique if i'm flat the direction..

What i had learned from my experienced..little bit only..if 1H candle want tochange..Let say now (12.45 a.m)..Then after or close to 1h candle (1.00 p.m) change it always reverse for a while..The movement not straight up or down..But sometimes not..Got what i mean..This tchnique for volality pair coz it movement..I''ll quickly move @ BE..1pips i'll take it..If hit my BE..Sory my english is very poor..
  • #146,125
  • Jul 14, 2009 11:48am Jul 14, 2009 11:48am
Quoting LondonTrader
Try this webside:
http://www.sniperforex.com/testimonials.html

I bought it a long time ago, so I don`t remember the web but it seems that this is the oryginal one. The service is very good.

Aaa, you can use one version on one computer (account) only -and on MetaTrader4 only. Check the details

Good luck
London Trader
Thanks Bro
  • #146,126
  • Jul 14, 2009 11:51am Jul 14, 2009 11:51am
Quoting simoneg
Hey albchr, I missed that entry by a few pips when i went to lunch

I see, thanks Simone. So are planning to hold it figuring it's going down longer term or are you closing at the bottom bounces and taking the profits?
Ghost Rider - WWTBMD?
  • #146,127
  • Jul 14, 2009 11:57am Jul 14, 2009 11:57am
Quoting albchr
I see, thanks Simone. So are planning to hold it figuring it's going down longer term or are you closing at the bottom bounces and taking the profits?
I am holding this one albchr, looking at 1.6190. I think the market has topped out for today. Will see how it goes. The bigger TFs, H4 and H2 look bearish but 15 m and H1 making me feel uncomfy.
Hero Traders Live to see their Accounts Die!
  • #146,128
  • Jul 14, 2009 11:58am Jul 14, 2009 11:58am
Quoting LondonTrader
You one of the Masters here
Well thanks LT but really...LOL...I'm NO master. Just a babe in the woods trying to find my way. I learn things from all of you everyday....

But I think you're right, this puppy is winding up tight and I think we'll see a break coming soon. Which way at this point is anyones guess. "My" guess is south but only time will tell.
Ghost Rider - WWTBMD?
  • #146,129
  • Jul 14, 2009 11:58am Jul 14, 2009 11:58am
Quoting LondonTrader
In my opinion you can get the same efect when you put 4 simple Moving Average on your chart and 9 EMA. Any time when the 4 SMA cross the 9 EMA is time to buy/sell. In my opinion it works the same as Sniper but I found this out yesterday. In my opinion this cross over works best at 1 hour chart. Even now I am waiting for confirmation when the 4 SMA cross the 9 EMA but it might not happen this time...We will see

Good luck
London Trader
Thats fine but how to know when to BUy or Sell???
  • #146,130
  • Jul 14, 2009 11:59am Jul 14, 2009 11:59am
slykyn ...
http://www.forexfactory.com/showpost...postcount=1740
Thank You
  • #146,131
  • Jul 14, 2009 12:03pm Jul 14, 2009 12:03pm
Quoting neozero
yup..have u heard TRO (The Rumpled One)..I learn this technique @ babypips..But they using 5minit chart..Am using this technique if i'm flat the direction..

What i had learned from my experienced..little bit only..if 1H candle want tochange..Let say now (12.45 a.m)..Then after or close to 1h candle (1.00 p.m) change it always reverse for a while..The movement not straight up or down..But sometimes not..Got what i mean..This tchnique for volality pair coz it movement..I''ll quickly move @ BE..1pips i'll take it..If hit my BE..Sory my english is...

yes know tro ...spoke to him a few times

good luck on trading beast (gj) for 1 pip on a 1min chart ...lol ... not sure how long you been trading but the beast is not the ideal pair for scalping 1-10 pips on .

I only day trade gj .... last 3 years ... so understand how she moves.
Blogging daily now at www.volume.zone
  • #146,132
  • Jul 14, 2009 12:05pm Jul 14, 2009 12:05pm
Quoting albchr
Just curious here. I see folks like wolf and Simone taking shorts at 310 & 309 and such. If your going short, why not take it at the 320 it's been bouncing off of all day?

Is it because at that level, you think it may go higher? Not trying to be a wise guy, just honestly curious.

Quite frankly I'm kicking myself in the butt for not going short off 320 several times now. I must have finger paralysis or something...LOL

Albchr, 10 was just the entry I got, it did spike to twenty but I missed it entered on the next spike around the 15 level actual entry 1.63097.

But if you look at price action after the LO this morning price was bouncing of the 15 level which coincided nicley with a T/L on my charts, so an entry at 10 to 15 was fine for me. Took 4 shorts from that level this morning with the last stopped at +1. PA was moving high so the next was short at the spike up to the Monthly Pivot.

Wolf.
  • #146,133
  • Jul 14, 2009 12:09pm Jul 14, 2009 12:09pm
Quoting Wolf.
Albchr, 10 was just the entry I got, it did spike to twenty but I missed it entered on the next spike around the 15 level actual entry 1.63097.

But if you look at price action after the LO this morning price was bouncing of the 15 level which coincided nicley with a T/L on my charts, so an entry at 10 to 15 was fine for me. Took 4 shorts from that level this morning with the last stopped at +1. PA was moving high so the next was short at the spike up the the Monthly Pivot.

Wolf.
Thanks for the explanation Wolf....
I always learn a lot when seeing what others are thinking.
Ghost Rider - WWTBMD?
  • #146,134
  • Jul 14, 2009 12:14pm Jul 14, 2009 12:14pm
Hi,

Take a look at history. On your 1H chart put 4 simple MA (yellow line on my chart) and 9 Exponential MA (blue line on my chart) Now when the yellow line cross the blue you have the confirmation where is SHE going (down or up) Then you can wait for pull back to get better entry or enter it 1 lot in this place when the lines cross. When you take a look at your chart (even last 3 days on H1) you will know what am talking about. Important thing: yellow has to cross it not touch it...

I made the tool yesterday

Any questions just ask
London Trader
Quoting amis0405
Thats fine but how to know when to BUy or Sell???
Attached Image (click to enlarge)
Click to Enlarge Name: crossover_lt.gif Size: 49 KB
Discomfort and profit often stand side by side
  • #146,135
  • Jul 14, 2009 12:17pm Jul 14, 2009 12:17pm
[quote=malcolmb14;2873268]yes know tro ...spoke to him a few times

Are u short for cable now? Just asking.
Im short in 4hr chart now at 6315 = 4/8
GELORE
  • #146,136
  • Jul 14, 2009 12:22pm Jul 14, 2009 12:22pm
Quoting LondonTrader
Hi,

Take a look at history. On your 1H chart put 4 simple MA (yellow line on my chart) and 9 Exponential MA (blue line on my chart) Now when the yellow line cross the blue you have the confirmation where is SHE going (down or up) Then you can wait for pull back to get better entry or enter it 1 lot in this place when the lines cross. When you take a look at your chart (even last 3 days on H1) you will know what am talking about. Important thing: yellow has to cross it not touch it...

I made the tool yesterday

Any questions just ask
London...
LT, are those MA's set on close?

Have you looked back any further than 3 days with them?

Thanks
Ghost Rider - WWTBMD?
  • #146,137
  • Jul 14, 2009 12:27pm Jul 14, 2009 12:27pm
GBP H1 has following convergence and resistance levels which would allow for pullbacks/targets on current fall.
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Hero Traders Live to see their Accounts Die!
  • #146,138
  • Jul 14, 2009 12:54pm Jul 14, 2009 12:54pm
Anyone think it will close below 1.62
Disclaimer: Check your 1m charts
  • #146,139
  • Jul 14, 2009 12:55pm Jul 14, 2009 12:55pm
Quoting pipper
Anyone think it will close below 1.62
Well 1.6235 needs to be broken first...some way to go.
Hero Traders Live to see their Accounts Die!
  • #146,140
  • Jul 14, 2009 12:55pm Jul 14, 2009 12:55pm
Hi Albrch,
I cam back to you as soon as I could, so:
I`ve chaked how it works from March and tried a few more set ups like 3 SMA or 2 SMA... also at 30 Minuts chart; 15 Minuts; 4 Hours and 1Hour. Only the 4SMA/9EMA gives best confirmation but not best entry point. Sometimes it is good to enter when the line crosses, but often is better to wait 3-5 hours for pullback and enter when She came back a bit (20-30 pips). We need to practise our eye. I`ve learned by looking back. Anyway the most important thing is not to open before the 4SMA cross the 9EMA. Also I am testing at the moment stochastic 14/2/3 - and looking for an early signal - I would like to see that the cross over is coming. The stochastic 14/2/3 (I`ve tried 5/2/3 and others gives a signal 2 hours before-but I am testing it now so cannot say much. Sorry by giving a signal I understand that the stochastic gives divergence bettwen the price action and the stochastic-I put white circles on the chart to show the divergence.
Later on I will try the same witch MACD.

It was nice to answer your question
London Trader

Quoting albchr
LT, are those MA's set on close?

Have you looked back any further than 3 days with them?

Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: crossover_stochastic_lt.gif Size: 52 KB
Discomfort and profit often stand side by side
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