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Cable Update (GBPUSD)

  • #168,301
  • Sep 23, 2009 12:34pm Sep 23, 2009 12:34pm
Quoting Inzider
he actualy looks like Van Damme! No?!
You mean SHE almost looks like Van "Dame"...right?
Ghost Rider - WWTBMD?
  • #168,302
  • Sep 23, 2009 12:35pm Sep 23, 2009 12:35pm
Quoting bbmac
Hi WM, I trade mainly from a 1min trigger, looking for hi-probability repeating indicator patterns with a price action trigger at both potential support/resistance/sbr/rbs on the 1hr (+) t/f and potential sbr/rbs on the 5min t/f. These repeating indicator set-ups are both Reversal (against immediate price action/trend) based on regualr divergence and Re-entry to next t/f trend (after a pullback) based on hidden divergence.

For me, it matters not what the trend is on 1min as it is only the trigger, the trend for me is important on the 5min intermediate...
bb2 thank you so much for taking the time to explain it to me.
One question, is it in a downtrend right now based on the M1 (how you see it) & would you have taken short @6430?
I know you only use it as a trigger, but I am trying to figure out how a trend is defined on this timeframe.
Thanks in advance!
Thank You
  • #168,303
  • Sep 23, 2009 12:38pm Sep 23, 2009 12:38pm
A very recent example, price sells down to the previous 1hr swing hi=previous resistance=potential rbs zone shown below
http://i37.tinypic.com/mkdbms.gif
At which a 1min trigger t/f reversal set-up developed:
http://i36.tinypic.com/2sbkbbt.gif
supported by a 5min intermediate t/f reversal set-up adding to the confluence of tech reasons to go long @ this potential rbs zone.
http://i34.tinypic.com/28493b.gif

So when I hear you guys laughing about the 1min and how it cannot be done, what you mean is that it isn't for you...this does not mean it cannot be done, lol!!

G/L
ex member
  • #168,304
  • Sep 23, 2009 12:38pm Sep 23, 2009 12:38pm
Quoting albchr
You mean SHE almost looks like Van "Dame"...right?

You think "it" visit the doctors?!
Chop/Chop!

LOL

-----------

i use 30/62/200/600 ema if over all, = up trend, if not ranging or 1 stage of a move...
bbmac said it right, 1 min is a trigger thing, you don't look only at 1 min...

...
  • #168,305
  • Sep 23, 2009 12:38pm Sep 23, 2009 12:38pm
Quoting Inzider
Agree, even 3 top pattern... 1.6400 is the base, under that = breakout point down.

The chart is making kind of a H&S at 1.6400 now... testing it again, but remain down until 20 not broken.
What's the bo point you have? I have mine @404 with the next support @390. Yet to play out tho
Thank You
  • #168,306
  • Sep 23, 2009 12:42pm Sep 23, 2009 12:42pm
Quoting bbmac
So when I hear you guys laughing about the 1min and how it cannot be done, what you mean is that it isn't for you...this does not mean it cannot be done, lol!!

G/L
You got that one wrong. I didn't laugh for no reason. I laughed off at the person who was belittling people like myself who are trading from the higher timeframes namely the H4 with high success rates. You blaze, I blaze
Thank You
  • #168,307
  • Sep 23, 2009 12:43pm Sep 23, 2009 12:43pm
Quoting wormboy
bb2 thank you so much for taking the time to explain it to me.
One question, is it in a downtrend right now based on the M1 (how you see it) & would you have taken short @6430?
I know you only use it as a trigger, but I am trying to figure out how a trend is defined on this timeframe.
Thanks in advance!
There were clear reversal set-ups to 15min @ the Daily Hi, 15min shown below) as for establishing trend on the 1min you could use peak/valley analysis but unless you are using a sub 1min trigger there is probably no real value in knowing the trend onthis or any trigger t/f...it is the opa conditions on the next higher t/f and above to the trigger that are important in my opinion and per my system/methodology.

G/L

http://i36.tinypic.com/30atjmb.gif
ex member
  • #168,308
  • Sep 23, 2009 12:45pm Sep 23, 2009 12:45pm
Quoting wormboy
What's the bo point you have? I have mine @404 with the next support @390. Yet to play out tho
Exactly that Azim!

It's the same as any chart, you just aim for less pips then 4h... LOL
Or use it as a trigger/confirmation TF.
  • #168,309
  • Sep 23, 2009 12:47pm Sep 23, 2009 12:47pm
Quoting Inzider
he actualy looks like Van Damme! No?!
http://www.caradisiac.com/media/imag...-damme-niv.jpg


good question bro...ask that WB....errr....Softy M1-Man....lol....He's more "familiar" with that guy....
Hear the music before the song is over ...
  • #168,310
  • Sep 23, 2009 12:48pm Sep 23, 2009 12:48pm
Quoting wormboy
You got that one wrong. I didn't laugh for no reason. I laughed off at the person who was belittling people like myself who are trading from the higher timeframes namely the H4 with high success rates. You blaze, I blaze

Ok my apologies but there is a definate downer on sub 1hr t/f's on this thread, and that is fair enough but it would be wrong to give newbies tuned in here the impression that it cannot be done, ..it can it is no different to any other t/f's...ie establish a trigger, intermediate and trend t/f (for me this is 1/5/30min) and then you are able to look for trades in the direction of your intermediate/trend t/f trend timed on your trigger t/f...it's a classic elder technique.

For the sake of clarity for me, it's each to his own, and good luck to all whatever your t/f...I am keen just to promote useful analysis and reasoned input not generalisations that I read about the 1min t/f.

G/L

G/L
ex member
  • #168,311
  • Sep 23, 2009 12:48pm Sep 23, 2009 12:48pm
Quoting wormboy
You got that one wrong. I didn't laugh for no reason. I laughed off at the person who was belittling people like myself who are trading from the higher timeframes namely the H4 with high success rates. You blaze, I blaze
i kinda agree ...i think 1hr time frame is tradeable when u trying to find divergence and it plays out very well if PA is suitable....b4 i learned about FF i was a 1 minute trader .....it can be profitable..but its exhausting
Attached Image (click to enlarge)
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  • #168,312
  • Sep 23, 2009 12:50pm Sep 23, 2009 12:50pm
Quoting GlobalMacro
good question bro...ask that WB....errr....Softy M1-Man....lol....He's more "familiar" with that guy....
Muhahhah! I don't know why this subject is running since this morning!
  • #168,313
  • Sep 23, 2009 12:50pm Sep 23, 2009 12:50pm
Quoting bbmac
There were clear reversal set-ups to 15min @ the Daily Hi, 15min shown below) as for establishing trend on the 1min you could use peak/valley analysis but unless you are using a sub 1min trigger there is probably no real value in knowing the trend onthis or any trigger t/f...it is the opa conditions on the next higher t/f and above to the trigger that are important in my opinion and per my system/methodology.

G/L

http://i36.tinypic.com/30atjmb.gif
so basically you are using the m15 divergence for a new short setup and you look down towards the M1 for trigger?
What would be the criteria on the M1 to pull the trigger then? A candle formation or something? Because I remembered Turveyd saying candles are useless
Thank You
  • #168,314
  • Sep 23, 2009 12:52pm Sep 23, 2009 12:52pm
Quoting nAVIN2007
i kinda agree ...i thin 1hr time frame is tradeable when u trying to find divergence and it plays out very well if PA is suitable....b4 i learned about FF i was a 1 minute trader .....it can be profitable..but its exhausting

I tend to do 5hrs a day from London open (or whenever) and stop, and pack up till tomorrow...(I have returned to screens now to see if any opportunities develop with the fomc announce so an exception to the rule) ie it doesn't have to be exhausting, ..I spend far less time at screens than most who are carrying postitions etc based on higher t/f's.
ex member
  • #168,315
  • Sep 23, 2009 12:52pm Sep 23, 2009 12:52pm
Quoting Inzider
Exactly that Azim!

It's the same as any chart, you just aim for less pips then 4h... LOL
Or use it as a trigger/confirmation TF.
Okay I think I get it now . But the other fella kept calling them "trends". That is what I am trying to understand lol
Thank You
  • #168,316
  • Sep 23, 2009 12:53pm Sep 23, 2009 12:53pm
how will the fomc decision move this pair. the rates are going to remain the same.
  • #168,317
  • Sep 23, 2009 12:55pm Sep 23, 2009 12:55pm
Quoting Inzider
Exactly that Azim!

It's the same as any chart, you just aim for less pips then 4h... LOL
Or use it as a trigger/confirmation TF.
I agree, I closed the other short trade for about 4 pips, while going long.

bbmac, thanks for sharing you thoughts.

If i can add, M1 can be tricky, yet profitable. I feel it is necessary to look at the higher t/f charts before hand, at least 30 to 1hr to see what may be in store, and get a "direction." It may not be for everyone.
Some of the higher t/f trades require larger margin, so for new traders (like me) the M1 can be appealing.

While posting I closed the long reversal for 5 pips.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #168,318
  • Sep 23, 2009 12:57pm Sep 23, 2009 12:57pm
Quoting wormboy
so basically you are using the m15 divergence for a new short setup and you look down towards the M1 for trigger?
What would be the criteria on the M1 to pull the trigger then? A candle formation or something? Because I remembered Turveyd saying candles are useless
I am principly looking at the 1min for a repeating reversal or re-entry indicator set-up at pre-identified potential supp/res/sbr/rbs. Obviously if a reversal set-up appears on 1min and it is against a strong trend say above my own trend t/f then I will look for supporting set-ups on the 5min/15min +and of course will only consider a contra-trend set-up at pre-identified potential supp/res/sbr/rbs on the 1hr+ t/f...looking whether there are supporting set-ups on t/f's above the 1min trigger also helps with assessing the potential for the move and target.

Yes the ultimate trigger is a classic price action rejection candle like an engulfing, hammer, hanging man, harami, eveneing star, doji etc...and if there is no clear 1min trigger t/f set-up but a very clear 5min set-up I will use the 5min candle if it develops, as the trigger (close of first rejection candle in a set-up)
ex member
  • #168,319
  • Sep 23, 2009 12:57pm Sep 23, 2009 12:57pm
Quoting bbmac
I tend to do 5hrs a day from London open (or whenever) and stop, and pack up till tomorrow...(I have returned to screens now to see if any opportunities develop with the fomc announce so an exception to the rule) ie it doesn't have to be exhausting, ..I spend far less time at screens than most who are carrying postitions etc based on higher t/f's.

tom i know buddy..u forget u were teaching me to scalp i know better than any1 your results.....i just was never better than u at it...

heck if i can have 500 trades and get less than 10 losser .....id scalp as well
  • #168,320
  • Sep 23, 2009 12:59pm Sep 23, 2009 12:59pm
Quoting GlobalMacro
good question bro...ask that WB....errr....Softy M1-Man....lol....He's more "familiar" with that guy....
Softy? Ha! Speak for yourself mountaneer
I'm hard as a
Attached Image
Thank You
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