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Cable Update (GBPUSD)

  • #149,561
  • Jul 22, 2009 5:51pm Jul 22, 2009 5:51pm
Holla!
Its all in the mind.
  • #149,562
  • Jul 22, 2009 5:58pm Jul 22, 2009 5:58pm
The weekly range for this week so far for GU is only 247 pips and for GJ is only 413 pips, which looks very small range, it reminds me from 2 or 3 years in the month of June GU was only making a daily range of 50 to 60 pips, and when it reach 100 pips a day we call it a day, I hate small ranges and I hate the pair when it is in the consolidation period, I call it the hibernation period, although we are in the summer now, but GU is moving in a slow motion mode, I hope we can get out from the consolidation zone and start to trade normally as I'm exteremely bored from the PA.
I really started to hate the words bounce and rejection, we are facing the 2 words every day, which is not logical, whicn ends with a small range.
  • #149,563
  • Jul 22, 2009 6:03pm Jul 22, 2009 6:03pm
Inside bar still valid and 30min shows
Bears moving in
Imo


Night.
  • #149,564
  • Jul 22, 2009 6:09pm Jul 22, 2009 6:09pm
Sitting on my 540SMA could easily retest 6500, no longs till other SMA's cleared so 6463 area.

EJ's trending down vaguely as per the time.


Expect GU will go down over night though
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #149,565
  • Jul 22, 2009 6:17pm Jul 22, 2009 6:17pm
Bounced as kinda thought, not quite taken out my 100SMMA ( smoothed ) yet!!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #149,566
  • Jul 22, 2009 6:21pm Jul 22, 2009 6:21pm
Im HOPING, let me stress that word again HOPING, price will go up to 1.6500 to form a double top and then fall...that along with a retest of 93.80 in UJ should take GJ up to 155.00-155.20 to form the top of the shoulder and then some heavy dropping. I have my entry order ready as I wont be able to access my platform for the next 4 hours. Lets see what happens.
On a journey to consistency.
  • #149,567
  • Jul 22, 2009 6:23pm Jul 22, 2009 6:23pm
Quoting Tataocb
Im HOPING, let me stress that word again HOPING, price will go up to 1.6500 to form a double top and then fall...that along with a retest of 93.80 in UJ should take GJ up to 155.00-155.20 to form the top of the shoulder and then some heavy dropping. I have my entry order ready as I wont be able to access my platform for the next 4 hours. Lets see what happens.

Skip the HOPE out, play the Current direction keep it simple and thats it really.


Just got to work out, what works for you direction wise depending on what kinda trades your after.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #149,568
  • Jul 22, 2009 6:29pm Jul 22, 2009 6:29pm
hOW HAVE YOU BEEN DETERMINING THE IMMEADIATE TREND?


Quoting Turveyd
Skip the HOPE out, play the Current direction keep it simple and thats it really.


Just got to work out, what works for you direction wise depending on what kinda trades your after.
Its all in the mind.
  • #149,569
  • Jul 22, 2009 6:36pm Jul 22, 2009 6:36pm
Quoting 5abi
hOW HAVE YOU BEEN DETERMINING THE IMMEADIATE TREND?

Ahhhhh thats been my lifes work and finally think it's cracked so thats going to cost you LOL

Just using my SMA's on a M1 chart, wrote a little indicator aswell which just reminds me of the direction of my SMA's I use, as Direction seems to work better than market position kinda.

SMA Simple 5
SMA Smooth 23
SMA Smooth 100
SMA Simple 540

See how GU and EJ have both been failing to break over the 100SMMA, short near using that direction.

There is different time spans of direction, so it gets kinda confusing,


Put my Template on a M1 chart, GU or EJ and see, I'll include my alert indicator aswell.

* took me years to work this out, don't expect to understand it easily or for me to be able to explain it LOL *

You'll need to copy Button.Wav from your Windows system ( do a search ) into the Sounds MT4 folder for both the sounds to work!!
Attached File(s)
File Type: tpl trend directions.tpl   13 KB | 376 downloads
File Type: mq4 EMA-alert.mq4   6 KB | 346 downloads
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #149,570
  • Jul 22, 2009 6:44pm Jul 22, 2009 6:44pm
No sweats, I will buy you a coke when in London next time

Thanks! Looks good, so are there any rules or you just trade off the 100 SSMA bounce?

Quoting Turveyd
Ahhhhh thats been my lifes work and finally think it's cracked so thats going to cost you LOL

Just using my SMA's on a M1 chart,...
Its all in the mind.
  • #149,571
  • Jul 22, 2009 6:47pm Jul 22, 2009 6:47pm
Quoting 5abi
No sweats, I will buy you a coke when in London next time

Thanks!

Free Coke and just a 140mile drive each way

Follow it for abit, you need to get to a trust level where when it's all pointing up, to just go Long and follow the trend and also to bail when the trend line fails for min losses.

Only use during strong market times, not enough follow through currently.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #149,572
  • Jul 22, 2009 6:54pm Jul 22, 2009 6:54pm
Quoting Turveyd
Ahhhhh thats been my lifes work and finally think it's cracked so thats going to cost you LOL


SMA Simple 5
SMA Smooth 23
SMA Smooth 100
SMA Simple 540

( do a search ) into the Sounds MT4 folder for both the sounds to work!!

smooth = weighted or exponential? ,or none of these 2?

thank you
Better safe than sorry
  • #149,573
  • Jul 22, 2009 6:57pm Jul 22, 2009 6:57pm
Quoting cdforex
smooth = weighted or exponential? ,or none of these 2?

thank you

SMOOTHED on the list of options.

This is KEY, since moving to SMOOTHED my accuracy went through the roof.


Just got to learn how to trade and I'm golden

There is a chart pic for you!!
Attached Image (click to enlarge)
Click to Enlarge Name: current m1 direction view 2.gif Size: 12 KB
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #149,574
  • Jul 22, 2009 6:57pm Jul 22, 2009 6:57pm
Quoting alex1976
Angelina, are you on messenger?

I dont have one Alex ;D
  • #149,575
  • Jul 22, 2009 7:03pm Jul 22, 2009 7:03pm
Quoting Turveyd
Ahhhhh thats been my lifes work and finally think it's cracked so thats going to cost you LOL

Just using my SMA's on a M1 chart,...
I just launched ur indicator. What am I doing wrong?
Attached Image (click to enlarge)
Click to Enlarge Name: ema alert.gif Size: 17 KB
  • #149,576
  • Jul 22, 2009 7:08pm Jul 22, 2009 7:08pm
Quoting UncleSam123
I just launched ur indicator. What am I doing wrong?

Load the Template aswell it'll make more sense.

It just bleeps when the price crossed the 23SMMA or the 100SMMA and when the 5SMA changes direction, cause thats when I'm likely to trade.

Stops me forgetting about the market and 2hours later I've missed a 200pip move!! And also means I don't have to stare at the screen, bleep ohhh yes TRADE!!

And it highlights the direction of my SMA's to drill it into me to trade with the damn trend.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #149,577
  • Jul 22, 2009 7:14pm Jul 22, 2009 7:14pm
Never Enter a trade against the 5's direction, stops me picking bottoms and tops and consider exiting on the 5's direction turning against you.

Thats the Most immediate direction ofcourse.

You'll see if you scroll back how frequently the price reverses at the longer SMMA levels and also the effect of them breaking normally being hard selling / buying!!

Perfect, no ofcourse not but it's been on the right side of GU for a few pips in this slow market!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #149,578
  • Jul 22, 2009 7:16pm Jul 22, 2009 7:16pm
Your method is cool. But you need to be in front of the PC all the times to make any money. I mean if you have any discipline and can stick to your control you can make a lot of money by just going with the flow. But be prepared to be in front of the PC atleast 12 hours a day.



Quoting Turveyd
Never Enter a trade against the 5's direction, stops me picking bottoms and tops and consider exiting on the 5's direction turning against you.

Thats the Most immediate direction ofcourse.

You'll see if you scroll back how frequently the price reverses at the longer SMMA levels and also the effect of them breaking normally being hard selling / buying!!

Perfect, no ofcourse not but it's been on the right side of GU for a few pips in this slow market!!
Its all in the mind.
  • #149,579
  • Jul 22, 2009 7:22pm Jul 22, 2009 7:22pm
I think I got it now
Attached Image (click to enlarge)
Click to Enlarge Name: ema alert1.gif Size: 16 KB
  • #149,580
  • Jul 22, 2009 7:26pm Jul 22, 2009 7:26pm
Quoting 5abi
Your method is cool. But you need to be in front of the PC all the times to make any money. I mean if you have any discipline and can stick to your control you can make a lot of money by just going with the flow. But be prepared to be in front of the PC atleast 12 hours a day.

Self employeed programmer and no work on after this week really, so all the time in the world to focus on that and used to sitting infront of the PC.

And I'm thinking 2 shifts of 2 - 3 hours per day, GMT 8:30am - 11:30am then 1:30am - 4:30 ish, so say 5hours per day 4 days per week, hey I'm LAZY!!

I can live on say 50pips per day at $2 per pip anything over that will be NICE


Plan is get the little account to 10K ( maybe 20K ) GBP then monthly withdraw anything over the 10K, Coke( the drink ) and hookers then waste the rest


Made 20pips so far, not that I've traded it!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
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