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Cable Update (GBPUSD)

  • #178,761
  • Oct 25, 2009 4:54pm Oct 25, 2009 4:54pm
Quoting m.haggag
hey guys,
It will be a nice week for making profit, Inshaallah.

LETS make some money .....

You've got to be IN IT to WIN IT!
  • #178,762
  • Oct 25, 2009 4:58pm Oct 25, 2009 4:58pm
Quoting Trends
If you look at the TrendPoint (bottom oscillator), you will see it has turned upward. This signals to exit the current short and get "ready" for a long position - even if its a "quick" long position.
interesting template...
could you please post indicator and template?
thank's
nick 35
  • #178,763
  • Oct 25, 2009 5:04pm Oct 25, 2009 5:04pm
I'm with u at the sell one , but i will make my tp at 1.6205 just above feb 50.

anyone have another opinion ??
Quoting cesararr
Did some one think this entrys can be good to choose long or short?
  • #178,764
  • Oct 25, 2009 5:06pm Oct 25, 2009 5:06pm
mY chart....

Quoting m.haggag
I'm with u at the sell one , but i will make my tp at 1.6205 just above feb 50.

anyone have another opinion ??
Attached Image (click to enlarge)
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  • #178,765
  • Oct 25, 2009 5:11pm Oct 25, 2009 5:11pm
Quoting m.haggag
mY chart....
´

good luck!
  • #178,766
  • Oct 25, 2009 6:07pm Oct 25, 2009 6:07pm
Damn...was hoping for a nice 40 pip gap to play there!

Oh well tomorrow I begin my new type of trading strategy, decided to go for the bigger moves with a longer stop and a much smaller lot size, so that my financial risk remains unchanged, previously I have been scalping with a very tight stop...20 pip stop on cable is pretty tricky...lets see how it goes this week!

Best of luck chaps!
  • #178,767
  • Oct 25, 2009 6:15pm Oct 25, 2009 6:15pm
Quoting antic81
Damn...was hoping for a nice 40 pip gap to play there!

Oh well tomorrow I begin my new type of trading strategy, decided to go for the bigger moves with a longer stop and a much smaller lot size, so that my financial risk remains unchanged, previously I have been scalping with a very tight stop...20 pip stop on cable is pretty tricky...lets see how it goes this week!


Best of luck chaps!
set the rsx with a moving average to 14 on one chart 21 on another

14 is less choppy than 21...
moving average I set to 2

your chart will look a wee bit different than mine due to esignal / mt4 differences

chart 1 4hr 14 rsx ... designed to get you in trade
chart 2 - 4 hr rsx 21 according to rsx 21 when gu went thru 1.6600 on 4 hr she was a sell and until the rsx on 14 goes to green it is sell all rallieso n lower time frames under 4 hr

Attached File(s)
File Type: mq4 MA_of_RSX.mq4   4 KB | 436 downloads


Attached File(s)
File Type: mq4 RSX.mq4   2 KB | 413 downloads


Attached Image (click to enlarge)
Click to Enlarge Name: chart952.png Size: 186 KB


Attached Image (click to enlarge)
Click to Enlarge Name: chart953.png Size: 174 KB
Blogging daily now at www.volume.zone
  • #178,768
  • Oct 25, 2009 6:18pm Oct 25, 2009 6:18pm
Quoting cesararr
Did some one think this entrys can be good to choose long or short?

why not short entry 1.6390 ? daily and weekly looks week .. sell rallies is way to go IMHO
Blogging daily now at www.volume.zone
  • #178,769
  • Oct 25, 2009 6:24pm Oct 25, 2009 6:24pm
Quoting cesararr
Did some one think this entrys can be good to choose long or short?
let me explain further

lets say this is a reversal on daily , off resistance 1.6600 and weekly doji leads to lower price by end of this week

the long trade is against the higher time frame , daily and weekly.

we could see a 38 % retracement to 1.6430 , maybe 50 % to 1.6480 if you are lucky . Your long gets hit at 1.6390 , maybe goes only 40 pip higher before wave 3 takes over moving gu down into 1.5700 test and stopping you out in the process

best off to either get a long at 1.6300 for the 130 pip up move or better yet , wait for the retracement ( if there is one) for the 400 pip down move.

I am trading sell all rallies intraday as I am a day trader unitl i see price moving above the upper value of the prior day.
Attached Image (click to enlarge)
Click to Enlarge Name: chart955.png Size: 159 KB
Blogging daily now at www.volume.zone
  • #178,770
  • Oct 25, 2009 6:38pm Oct 25, 2009 6:38pm
Quoting malcolmb14
set the rsx with a moving average to 14 on one chart 21 on another

14 is less choppy than 21...
moving average I set to 2

your chart will look a wee bit different than mine due to esignal / mt4 differences

chart 1 4hr 14 rsx ... designed to get you in trade
chart 2 - 4 hr rsx 21 according to rsx 21 when gu went thru 1.6600 on 4 hr she was a sell and until the rsx on 14 goes to green it is sell all rallieso n lower time frames under 4 hr

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Attachment

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Many thanks sir!

My idea is to trade between 6am and 11 am UK time, not really looking for more than 100 -150 pips, using the H1 - 4H for any signs of support or resistance and trend confirmation, then using my 15 min as an entry.

To be honest I had done ok with the scalping but I had a terrible week last week and was stopped out on 4 trades in a row, two of them were by under ten pips and then the move would go the direction I had traded...I was spitting blood!

Then, worse still, I would sit there and make correct call after correct call on entries, but due to my losses I would not enter the trades, I was beaten by my own psyche..a little pathetic really.

Many thanks again for your help!
  • #178,771
  • Oct 25, 2009 6:43pm Oct 25, 2009 6:43pm
The last few minutes they are selling the G/U pretty heavily. I don't know if they plan on letting it retrace anytime soon.

But all input is welcome.
  • #178,772
  • Oct 25, 2009 6:55pm Oct 25, 2009 6:55pm
Quoting antic81
Many thanks sir!


To be honest I had done ok with the scalping but I had a terrible week last week and was stopped out on 4 trades in a row, two of them were by under ten pips and then the move would go the direction I had traded...I was spitting blood!

Then, worse still, I would sit there and make correct call after correct call on entries, but due to my losses I would not enter the trades, I was beaten by my own psyche..a little pathetic really.
Been there before, but best you sit out n wish you was in a trade than be stuck in a trade wishing you was out.

When I get burned badly, 2 things happen...

1. I sit out of market until I get the feel back, you cannot effectively trade with scared money.

2. I go back to trading a winning strategy instead of guessing.

Believe me brother, I feel your pain.

I was just in 4 lots shorts, 2x6330, 2x6307....

Was watching my charts, they stopped moving, checked my account was up green, realized I was flying blind (DEAD CHARTS)and exited both @ 6295.....I hate flying blind. Switched to alternate charting company, and now I just wanna puke!

PISS!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #178,773
  • Oct 25, 2009 7:13pm Oct 25, 2009 7:13pm
Some nice setups this sunday Morning, Evening? Depends where you are

Obvious downtrend, took a rise, and bounced, broke a support, broke another support.. high probability setups .. Who says scalping on lower timeframes doesnt pay ! ( paying attention to what is going on in the higher time frames first of course)

Set my Stop losses on all 3 trades to 62675, and I am going to go play some counterstrike !
http://img193.imageshack.us/img193/4961/gusunday.jpg
lowest draw down possible please.
  • #178,774
  • Oct 25, 2009 7:18pm Oct 25, 2009 7:18pm
Quoting Magix
Been there before, but best you sit out n wish you was in a trade than be stuck in a trade wishing you was out.

When I get burned badly, 2 things happen...

1....
Ah mate Im sorry to hear that, I was in half a mind to go on a sell at a similar level, but thought better of it.

I am very gifted at sitting on my hands, I can actually sit there and watch things happen!lol!

Because of my money management I only £60, so less than 3% of my account, more a phsychological knock than a financial one...knocked the hell out of my strike rate, which was over 60%...scared to work it out now...probably closer to 50%!

The one thing I never forget is that loss of opportunity is preferable to loss of capital, theres always another entry!

I think London could quite easily see a retrace of Fridays move, perhaps to 1.6400?

Anyways off to bed to ponder!

Thanks very much!

See you chaps on the morrow!
  • #178,775
  • Oct 25, 2009 7:18pm Oct 25, 2009 7:18pm
As I see it GU should keep selling until Gold has finished making its move. The Gold move just started.
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  • #178,776
  • Oct 25, 2009 7:31pm Oct 25, 2009 7:31pm
down to 5800?
  • #178,777
  • Edited 7:46pm Oct 25, 2009 7:42pm | Edited 7:46pm
For those of you who don't know this:

Gold will usually rise around the time of a festival called Diwali celebrated in India. I doubt anyone wants the theory behind this, if you do just leave a message here, I will explain.

After Diwali, well general trend for next month is usually either consolidate or fall sharply. Check Diwali dates of India and check it against gold historical, the corelation is very clear.

I haven't tested its co-relation(any lag or such) to the Pound yet but give me some time and I will post the results

Neo
  • #178,778
  • Oct 25, 2009 7:56pm Oct 25, 2009 7:56pm
So, getting back to my main charts shitting the sheets, finally got them back up and running. Apparently a server issue, and they never bothered to back fill the data from the time they lost connection, soooooooooooo....

All of my indies are basically useless on this pofs!

Geeeeeeeeeeeez I hate when this happens!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #178,779
  • Oct 25, 2009 8:13pm Oct 25, 2009 8:13pm
Quoting alex1976
down to 5800?
Down to 1.2386
{I have no proof either} but it sounds good....

Actually, I'm looking for proof down around 1.6113 & then let's go from there.
BMc
  • #178,780
  • Oct 25, 2009 8:20pm Oct 25, 2009 8:20pm
Hi

Closed shorts on GU. Will look to enter again via 15 min TF at around 1.6332.

Neo
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