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Cable Update (GBPUSD)

  • #147,521
  • Jul 17, 2009 3:06pm Jul 17, 2009 3:06pm
Quoting Angelina
I got same feeling
Angel.
thats always nice
  • #147,522
  • Jul 17, 2009 3:08pm Jul 17, 2009 3:08pm
Quoting Benkasim
Glad to hear this..
ohhh. okay buddy
Thank You
  • #147,523
  • Jul 17, 2009 3:11pm Jul 17, 2009 3:11pm
okay for the second time , bye you guys. enjoy the weekend


p/s : Nav, better step away from your pc before price starts to jump around again! I'll shoot you if that happens!
Thank You
  • #147,524
  • Jul 17, 2009 3:22pm Jul 17, 2009 3:22pm
Quoting wormboy
okay for the second time , bye you guys. enjoy the weekend


p/s : Nav, better step away from your pc before price starts to jump around again! I'll shoot you if that happens!
have a good weekend bro..
im steping away now..feeling dizzy with all this price action
  • #147,525
  • Jul 17, 2009 3:34pm Jul 17, 2009 3:34pm
Christopher - what's PPZ and how do you suss out Price Action

Quoting albchr
You know I don't use any indicators bro. just playing around a bit.

PPZ + PA = the only way....

Simple, clean, DEADLY!!!
Disclaimer: Check your 1m charts
  • #147,526
  • Jul 17, 2009 4:46pm Jul 17, 2009 4:46pm
Hi,dear all,be careful next week Monday morning trading!Gook luck and have a great weekend! Japanese banks will be closed in observance of Marine Day; Usual Effect --Low liquidity and irregular volatility; Banks facilitate the majority of foreign exchange volume. When they are closed the market is less liquid and speculators become a more dominant market influence. This can lead to both abnormally low and abnormally high volatility;
  • #147,527
  • Jul 17, 2009 6:50pm Jul 17, 2009 6:50pm
Quoting direct-trade
I normally trade GBP/JPY, but have been looking at Cable to try and determine next weeks direction. Could we have already started a new downtrend? Honest opinions/criticism very welcome.
Good Chart DT ......
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #147,528
  • Jul 17, 2009 7:09pm Jul 17, 2009 7:09pm
Quoting Bull_Bear
Sell EUR 1.4100.... SL 1.4170..... TP open
Quoting Bull_Bear
This will probably be my last post as I'll try to be coherent as possible. I still have down signal for Cable and EUR.

EUR is meet by 1.4130 resistance and Cable 1.6380.

Just sold Cable @ 1.6350 too by the way.... SL 1.6380.... TP 1.6200/20

Good luck All
Apologies for making calls while under the influence.... Now I have a clear head and a good night sleep just wanted to update everyone. The above still stands and will look for a positive start of the blocks on Monday.

Good Luck All
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #147,529
  • Jul 17, 2009 11:08pm Jul 17, 2009 11:08pm
Quoting albchr

From where? How much patience? What's your plan? Where's your chart or even a comment on where you plan to enter, a SL & target(s) for exit and why?
Christopher, I came across this post of yours and wanted to thank you. These are really good guidelines for people to consider before posting here.

I don't understand why some people feel the need to post every mindless thought that enters their head, every 5 minutes, every day of the week.

Maybe it's just me, but I think if people just want to just goof off, or for some strange reason, need to spend most of their time just talking about their personal life, they should use facebook for that and keep this thread clean for people who are serious about their trading.
  • #147,530
  • Jul 18, 2009 2:35am Jul 18, 2009 2:35am
Quoting forexlion
same old chart n same old trade
and i got more than what i bargained for

  • #147,531
  • Jul 18, 2009 2:35am Jul 18, 2009 2:35am
Quoting nAVIN2007
have a good weekend bro..
im steping away now..feeling dizzy with all this price action
your 5 star privileges are revoked
  • #147,532
  • Jul 18, 2009 3:52am Jul 18, 2009 3:52am
Quoting forexlion
your 5 star privileges are revoked
  • #147,533
  • Jul 18, 2009 3:57am Jul 18, 2009 3:57am
Quoting pipper
Christopher - what's PPZ and how do you suss out Price Action
Hi Pipper,

PPZ = Price Pivot Zone - Major areas where price flips (or pivots) from above to below and visa versa.

It's much like SR (Support/Resistance) lines but much stronger as they are taken from Daily, Weekly and even Monthly charts. SR lines can be found on any time frame right down to minutes and are valid (for those times) but aren't quite as strong. Generally speaking, these are the areas (or zones) where the BIG BOYS order flows happen.

Keep in mind that as retail traders, we don't move the market. Only the big institutional and bank traders have the capitol to do that. Our job is to try and determine (through identifying PPZ's and PA) what they're doing and simply jump on for the ride.

At this point I MUST give credit where credit is do. I've spent the last 4 months studying my butt off in the James 16 Chart thread here....

http://www.forexfactory.com/showthread.php?t=2331

This is page one and I STRONGLY advise following the minimum requirements as stated. James and the seniors there really care about saving new traders from the pain of wiping out account after account and if you're diligent in learning the material, you'll better than double your chances for success. It's a LARGE thread and will seem a daunting task but then, how badly do you want to succeed? ME? I've read it 3 times and I'll read it again.

I will also point out that the thread IS NOT a place to simply throw mindless calls around and or BS about off topic things. SHOW JAMES & THESE SENIORS THE RESPECT THEY DESERVE and READ from page one. If you have questions (on points you've read), feel free to ask and they'll gladly help you.

Consider it a classroom and the posts your text book. Read the book, and raise your hand if you get stuck on something. EVERY question you could possibly ask has been answered a 100 times.

As I said, I've read it 3 times and you'll see very few posts from me and that's for two reasons.

First, ALL the answers are already in there and....

Second, I don't want add to the thread growing "too" much because when folks see it's size and think (like I did), "OH man, this will take forever to read", they'll be less likely to do so and I honestly believe it's a MUST.

I'm learning there are many good threads on FF. J16 is among the BEST IMHO.

PPZ + PA = Simple, Clean, DEADLY
Ghost Rider - WWTBMD?
  • #147,534
  • Jul 18, 2009 3:58am Jul 18, 2009 3:58am
Attached is a daily chart. I did mention last week that it would be unlikely to have a dramatic plummet from an oversold stochastic, the day stochs have come up now and they look primed and ready for a fall. In addition we have bearish divergence with the stochastics as prices made a lower high, but the stochastics failed to make a lower high as well.

There is also have a bearish reversal candlestick pattern right at the upper trendline and the day closed candlestick appears to be a hanging man, could do with a longer tail though.

Based on the above , the week should be down, but if a day candlestick closes above the upper trendline, then this would invalidate the down position.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-day.gif Size: 20 KB
  • #147,535
  • Jul 18, 2009 4:07am Jul 18, 2009 4:07am
Quoting GodfreyH
Attached is a daily chart. I did mention last week that it would be unlikely to have a dramatic plummet from an oversold stochastic, the day stochs have come up now and they look primed and ready for a fall. In addition we have bearish divergence with the stochastics as prices made a lower high, but the stochastics failed to make a lower high as well.

There is also have a bearish reversal candlestick pattern right at the upper trendline and the day closed candlestick appears to be a hanging man, could do with a longer tail though.

Based on...
Agree completely!!...
Ghost Rider - WWTBMD?
  • #147,536
  • Jul 18, 2009 6:13am Jul 18, 2009 6:13am
Thanks Christopher, much appreciated - i will study that thread
Disclaimer: Check your 1m charts
  • #147,537
  • Jul 18, 2009 6:17am Jul 18, 2009 6:17am
Hi Forexlion,

I'm starting out and was amazed at this post which i bagged over 30 pips as a result. Can you give me a short explanation how you came to this decision which resulted as you predicted please so i can study it.

Thanks,
Pipper

Quoting forexlion
same old chart n same old trade
Disclaimer: Check your 1m charts
  • #147,538
  • Jul 18, 2009 7:27am Jul 18, 2009 7:27am
Quoting albchr
Hi Pipper,

PPZ = Price Pivot Zone - Major areas where price flips (or pivots) from above to below and visa versa.

It's much like SR (Support/Resistance) lines but much stronger as they are taken from Daily, Weekly and even Monthly charts. SR lines can be found on any time frame right down to minutes and are valid (for those times) but aren't quite as strong. Generally speaking, these are the areas (or zones) where the BIG BOYS order flows happen.

Keep in mind that as retail traders, we don't move the market. Only the big institutional...
Chris,

Sorry mate I must disagree, J16 is NOT one of the best threads on ff

It is far and away THE BEST. Yeah Jacko and clockwork are good but I think they are both ex J16ers anyway.

Chris on another note can I ask what timeframe you trade. J16 recommends only the higher timeframes and from reading your posts I would guess you are trading on h1 or lower. How do you find that fits with J16.
  • #147,539
  • Jul 18, 2009 7:46am Jul 18, 2009 7:46am
Quoting stewrigh
Chris,

Sorry mate I must disagree, J16 is NOT one of the best threads on ff

It is far and away THE BEST. Yeah Jacko and clockwork are good but I think they are both ex J16ers anyway.

Chris on another note can I ask what timeframe you trade. J16 recommends only the higher timeframes and from reading your posts I would guess you are trading on h1 or lower. How do you find that fits with J16.
Ok Ok...LOL the BEST...LOL (just didn't want to tick off any other thread starters...lol)

I trade from the 1 & 4 hour charts. I never drop below the 1H as (a) there's simply no need to and (b) WAY too much noise for me...LOL Once in a while I'll "look" at lower than 1H but it's really just for fun and in some "rare" cases, can give me an idea what's going on. But I NEVER make any decisions off them. If you enter on a TF, you exit from that TF.

J16 recommends the higher TF's for "learning" PA and I completely agree. It's a slower pace with stronger, albeit fewer, PA setups and teaches us two very important things with time to think. 1) How to identify good PA setups off strong PPZ's and 2) PATIENCE in waiting for these setups as they are more rare on Daily & Weekly charts.

Once we've become accustom to seeing the various bar setups we trade (and I still am), the setups are really the same on the lower TF's. It just takes more patience to wait for the good setups around the strong PPZ's.

It works very well for me because of my small account size and money needs. I can't take the time, or trade small enough positions to allow for large stop loss settings on the Daily & Weekly charts. I don't advise anyone trade the way I have to. It's big risk, very dangerous and given a choice, I wouldn't.
Ghost Rider - WWTBMD?
  • #147,540
  • Jul 18, 2009 8:01am Jul 18, 2009 8:01am
Just a quick one guys. I'm currently with a Spread Trading firm and the close on their system for Friday is marked for 1.6344. Is this correct?
Disclaimer: Check your 1m charts
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