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Cable Update (GBPUSD)

  • #152,181
  • Jul 28, 2009 9:24pm Jul 28, 2009 9:24pm
He came off rather strongly against TA, but also see his point. He is right about the M1 and M5 usefulness.

Do you think traders on the floors use TA? It is all plain PA. M1/M5 work well in highly liquid environment. What noise? When the market had decided it wanna go up one way then there is no noise. In cases like that Daily and H4/H1 become the "Noise" Lol

See image below. A 5 Minute chart. That just happened. That was about 60 good pips in under half an hour. Now where is the "Noise" on this? Everything that works in this world is valid. Just my 2 pence.

Quoting jamiewhite
Wow. Where did all the aggro come from? All I asked was:

Originally Posted by jamiewhite http://static.forexfactory.com/forex...s/viewpost.gif
I don't understand something. How do you trade the noise of the M1 and M5 timeframes? There is no T/A tools of value because it is only erratic and random noise. That means that if there are no T/A tools then you are just guessing the next movement?

There was no bashing,...
Attached Image (click to enlarge)
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Its all in the mind.
  • #152,182
  • Jul 28, 2009 9:25pm Jul 28, 2009 9:25pm
Quoting 5abi
I am kind of looking at 6391. But can go lower TO 50 (This is based of the H4 TF)
it is better to be safe then to be sorry yep 6400 is safe profit target,
still just five to six days ago we touch 6300 so going back to 6350 is not a big draw down. and who know if this ranging in 4hr and daily is not the beginning of a fall down.
by the way did you see the fall of the uscad just look at it at the 1hr chart it it just a wow 800pip ..
  • #152,183
  • Jul 28, 2009 9:27pm Jul 28, 2009 9:27pm
not very sure if i got it, I dont see ver big drop on usd cad? it is still at 10814...


EDIT-- Ohh ok I see what you mean. Yeah 800 pips. I have mainly shorted this pair in last 2-3 months. Very sensitive to Oil prices/commos.

Quoting Lejumeau
it is better to be safe then to be sorry yep 6400 is safe profit target,
still just five to six days ago we touch 6300 so going back to 6350 is not a big draw down. and who know if this ranging in 4hr and daily is not the beginning of a fall down.
by the way did you see the fall of the uscad just look at it at the 1hr chart it it just a wow 800pip ..
Its all in the mind.
  • #152,184
  • Jul 28, 2009 9:30pm Jul 28, 2009 9:30pm
Quoting 5abi
not very sure if i got it, I dont see ver big drop on usd cad? it is still at 10814...


EDIT-- Ohh ok I see what you mean. Yeah 800 pips. I have mainly shorted this pair in last 2-3 months. Very sensitive to Oil prices.
4hr chart
Attached Image (click to enlarge)
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  • #152,185
  • Jul 28, 2009 9:33pm Jul 28, 2009 9:33pm
Quoting Turveyd
TA I have enough accuracy to put a 5SMA on my chart, and on the move from 1.6470 down to 1.6392 area it only called 1 up blip, rest of the time it said Short all the way down,

Notice also how my 100SMMA downtrend line, got touched before it reverse, it was touching and reversing all day for many potential shorts, can you see that on H4 ?? NO!!!!

LOL
So you are trading using 5SMA'a and 100SMMA's? Can you explain that more for me? What techniques are you using for entries and exits?
  • #152,186
  • Jul 28, 2009 9:40pm Jul 28, 2009 9:40pm
Quoting 5abi
He came off rather strongly against TA, but also see his point. He is right about the M1 and M5 usefulness.

Do you think traders on the floors use TA? It is all plain PA. M1/M5 work well in highly liquid environment. .
Thanks 5abi,
I will ignore the rudeness. Seethe Rule #1 of this forum

When you say it is all plain PA, what are you saying? Are you saying that when it has gone up a couple of pips , you immediately buy on the expectation that it will continue to go up? On M1 and M5 TF's?
  • #152,187
  • Jul 28, 2009 9:48pm Jul 28, 2009 9:48pm
I am sorry if I came across as rude.

I use BB and a longer TF MA if I trade with anything shorter than H1. I also keep in mind where the daily pivot etc is. So I am not exactly TA free. But to your question, yes when the Price action looks "clear" headed in a direction I would take a position and close it as soon as it appears to stall. I am not sure I have evertraded with price moving a couple of pips,, but yes I have traded with 2-3 candles closing in a particular deirection. Not much in terms of pips but you can get many 10-25 pips risking about half.

So in terms of Technicals, I am very sparse. I use BB, Stochs (sometimes MACD) + a few horizontal lines.



Quoting jamiewhite
Thanks 5abi,
I will ignore the rudeness. Seethe Rule #1 of this forum

When you say it is all plain PA, what are you saying? Are you saying that when it has gone up a couple of pips , you immediately buy on the expectation that it will continue to go up? On M1 and M5 TF's?
Its all in the mind.
  • #152,188
  • Jul 28, 2009 9:49pm Jul 28, 2009 9:49pm
thanks 5abi ...yep I can close but I think it can go further . now ..1.6460

Quoting 5abi
Did ya see the double top on the H4? H1 double bottom has given you 50 pips. Now close and reverse and get another 50 A more balanced approach lol
  • #152,189
  • Jul 28, 2009 9:51pm Jul 28, 2009 9:51pm
gotta catch some sleep. bbl.
Its all in the mind.
  • #152,190
  • Jul 28, 2009 9:52pm Jul 28, 2009 9:52pm
haha, yes it might. but trade what you see.

Quoting ranhat007
thanks 5abi ...yep I can close but I think it can go further . now ..1.6460
Its all in the mind.
  • #152,191
  • Jul 28, 2009 10:21pm Jul 28, 2009 10:21pm
Quoting 5abi
I am sorry if I came across as rude.

I use BB and a longer TF MA if I trade with anything shorter than H1. I also keep in mind where the daily pivot etc is. So I am not exactly TA free. But to your question, yes when the Price action looks "clear" headed in a direction I would take a position and close it as soon as it appears to stall. I am not sure I have evertraded with price moving a couple of pips,, but yes I have traded with 2-3 candles closing in a particular deirection. Not much in terms of pips but you can get many 10-25 pips...
So you are trading the momentum on M1 and M5 charts? What do you mean by when the Price action looks "clear"?
Are you getting rebates on your large number of trades to reduce the effect of the spread? I would guess that the spread is very sizable in your trading results?
  • #152,192
  • Jul 28, 2009 10:40pm Jul 28, 2009 10:40pm
Anybody taking short ride? first support will be targeted at 16359. Lets ride the bus yaw!
  • #152,193
  • Jul 28, 2009 11:54pm Jul 28, 2009 11:54pm
hi ub!!
welcum to today's session
  • #152,194
  • Jul 29, 2009 12:00am Jul 29, 2009 12:00am
Quoting elixerripple
hi ub!!
welcum to today's session
hello GOod morning...

waiting to go short today again....yesterday was very good day...hope all of you enjoyed it...


Ub
  • #152,195
  • Edited 12:32am Jul 29, 2009 12:08am | Edited 12:32am
Quoting Turveyd
Especially as no H4 players make money even, yes they make profits and it equals there losses that they forget to mention.
What are you on about?
Did you count my losses? Here's the link for trade entries. All of them.
http://www.forexfactory.com/showthread.php?t=156630

What are you trying to prove? Why the need to bash other tf? You have the holygrail now?
Thank You
  • #152,196
  • Jul 29, 2009 12:13am Jul 29, 2009 12:13am
H4 lag ey? I can do this all day.

http://www.forexfactory.com/showpost...postcount=2056
http://www.forexfactory.com/showpost...postcount=2058
http://www.forexfactory.com/showpost...postcount=2067

Like I said, either you know pa or you don't.
Thank You
  • #152,197
  • Jul 29, 2009 12:20am Jul 29, 2009 12:20am
Good MAE Everyone..
Ghost Rider - WWTBMD?
  • #152,198
  • Jul 29, 2009 12:22am Jul 29, 2009 12:22am
Quoting albchr
Good MAE Everyone..
Hey chris good morning
Thank You
  • #152,199
  • Jul 29, 2009 12:26am Jul 29, 2009 12:26am
Quoting wormboy
Hey chris good morning
Well, it looks like it's time to repack my parachute and look for another cliff...LOL
Ghost Rider - WWTBMD?
  • #152,200
  • Jul 29, 2009 12:30am Jul 29, 2009 12:30am
Quoting albchr
Well, it looks like it's time to repack my parachute and look for another cliff...LOL
lol
Thank You
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