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Cable Update (GBPUSD)

  • #181,821
  • Nov 9, 2009 5:22pm Nov 9, 2009 5:22pm
Quoting Turveyd
1. 90% is best and 53/47 is based on your general 200SL 200TP 4H trading style.
2. Disagree it's more accurate the way I view it, much more but I'm trading for smaller moves.
3. Agree 100%
4. Agree 100% to.
5. kinda I have a different view more based on supply and demand and Bank trading systems
6. Yep
7. Yep, but there are also a lot of ways to trade which will never work well.

Yeh re, no.5, this is supply and demand, price action is the movement of price based on supply/demand of the instrument and support/resistance is simply the visual manifestation of where supply and demand were imbalanced...this is the basis of future potential support/resistance ie

a. previous obvious near-term swing hi = previous imbalance of supply/demand = previous resistance = potential resistance or potential rbs if approached in a pullback from the topside in an uptrend.

b. previous obvious near-term swing lo = previous imbalance of demand/supply = previous support = potential support or potential sbr if approached in a pullback from the underside in a downtrend

Add in trend lines and fibs for potential support/resistance confluence and there you have the basics of a trading edge. individual price action too forms the trigger at such potential supp/res/sbr/rbs areas.

G/L
ex member
  • #181,822
  • Nov 9, 2009 5:37pm Nov 9, 2009 5:37pm
With exception to myself, has anybody bothered to have a look or apply any of Turveys strategies to their charting?

Whether you see bear or bull market, why not look for the best possible entry and exit.

Okay, so we trade on different timeframes, and may change with the charts several times per day, but with all of the BS that has gone on around here, especially with a predominant bear attitude, and a lot of people losing their shorts, why is it that nobody is interested in perhaps having a look at another way of trading?

Neither of us boast about being full time traders, in fact, I still consider myself a hobbiest, but it can be a little frustrating for the pair of us to watch the calls that seem oblivious to peoples signatures. "Let the trend be your friend".....
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #181,823
  • Nov 9, 2009 5:37pm Nov 9, 2009 5:37pm
Quoting DubaiFX
it looks like in this thread now ppl are doing war then making anlysis

wish you all happy pips
and good luck GUYS

before i leave just remember "Leverage is poison""
take care guys
No, no war.
Myself & turveyd just have different opinions regarding usage of timeframe in trading. Please don't assume things that are not.

thanks
Thank You
  • #181,824
  • Nov 9, 2009 5:38pm Nov 9, 2009 5:38pm
Quoting bbmac
Yeh re, no.5, this is supply and demand, price action is the movement of price based on supply/demand of the instrument and support/resistance is simply the visual manifestation of where supply and demand were imbalanced...this is the basis of future potential support/resistance ie

a. previous obvious near-term swing hi = previous imbalance of supply/demand = previous resistance = potential resistance or potential rbs if approached in a pullback from the topside in an uptrend.

b. previous obvious near-term swing lo = previous imbalance...

Not much of a support / resistance guy I see the market differently and exploit Banks Buy / Sell programs which run of very simple things, ie M1 200ema why I have a stupidly high win rate recently, I'm cheating You can only see this on a M1 chart though ( or lower, maybe M2 )

I've tested Fib's there really aren't enough real traders using the same fibs they have a very low reversal probability I know you see the few that work and the look great but look at all the times they don't work.

There are easier ways which will make a lot more money a lot quicker, not saying there easy to master obviously as I'm still poor, sorry I want the easiest, fastest, least risk method it's what I've been developing for years, but I'm there, my results speak for themselves, I just need the time to actually trade them


Role on Jan and going back to full time
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #181,825
  • Nov 9, 2009 5:41pm Nov 9, 2009 5:41pm
Quoting Magix
With exception to myself, has anybody bothered to have a look or apply any of Turveys strategies to their charting?

Whether you see bear or bull market, why not look for the best possible entry and exit.

Okay, so we trade on different timeframes, and may change with the charts several times per day, but with all of the BS that has gone on around here, especially with a predominant bear attitude, and a lot of people losing their shorts, why is it that nobody is interested in perhaps having a look at another way of trading?

Neither of us boast...

Well said sir!!

I consider Forex my hobby aswell, has been for years but actual time spend on it upto recently has been very limited.

I'm just not around when the market is good, call out this am totally missed the good moves, made a few small trades then had to look after mates kids and missed the GU down move then busy

LIFE!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #181,826
  • Nov 9, 2009 5:43pm Nov 9, 2009 5:43pm
Quoting wormboy
No, no war.
Myself & turveyd just have different opinions regarding usage of timeframe in trading. Please don't assume things that are not.

thanks

Correct no war!! Listening to other opinions is how people learn, dismissing anything different is how you get stuck in a rut and never realise your dream of becoming a billionaire ( Million doesn't cut it these days )

I used to trade D1 mainly, with M5 intraday charts, 3 - 5 day swing trades for stocks profitably 7 years+ ago, it's too much hard work though. So I understand higher TF's.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #181,827
  • Nov 9, 2009 5:48pm Nov 9, 2009 5:48pm
Your analysis is invaluable and very detailed as always.

Wormboy, thanks for your recent post- NO WAR.

We have to focus on the matter at hand TRADING.

I will say it again,
The difference of opinion or rather "seeing" the charts is the key fundamental reason we are allowed to trade in the first place.

Where is nAVIN?

Edit, I have refrained from posting some of my calls due to this reason.

NOW, I will begin to do the opposite. And post. This thread I thought was for us traders to compare notes and give constructive analysis and criticism.





Quoting bbmac
Yeh re, no.5, this is supply and demand, price action is the movement of price based on supply/demand of the instrument and support/resistance is simply the visual manifestation of where supply and demand were imbalanced...this is the basis of future potential support/resistance ie.

G/L
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #181,828
  • Nov 9, 2009 5:53pm Nov 9, 2009 5:53pm
Quoting XTrade
Your analysis is invaluable and very detailed as always.

Wormboy, thanks for your recent post- NO WAR.

We have to focus on the matter at hand TRADING.

I will say it again,
The difference of opinion or rather "seeing" the charts is the key fundamental reason we are allowed to trade in the first place.

Where is nAVIN?

Correct the matter at hand is TRADING!!

But Correct / Logical trading with a solid grounding in reality and a high enough probability of success to make it worth trading is key, without this why bother ??

GU's got buyers supporting the 55ema thus far so that'll suggest a big move coming UP!!

EJ's just turned down though.

When the buyers stop buying or the sellers out do the buyers I can't tell, thats is what my SL is for, your odds are much better if you don't worry about it hitting a top and reversing all the time and trade on the basis it will continue cause the odds are in the favour of this.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #181,829
  • Nov 9, 2009 5:58pm Nov 9, 2009 5:58pm
Quoting XTrade
Your analysis is invaluable and very detailed as always.
I agree. good work, well done
  • #181,830
  • Nov 9, 2009 6:03pm Nov 9, 2009 6:03pm
And GU breaks higher, okay it's not much so far, but wouldn't EVERYONE else of been calling a Top and shorting it repeatly ??


See how your odds are SOOOO Much better trading the trend and ignoring the possiblity of tops and reversals.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #181,831
  • Nov 9, 2009 6:07pm Nov 9, 2009 6:07pm
TRUE!!!

When I started all I wanted to do was scalp. I respect both scalping and longer term trades, multi day or all day. YES both are hard.
I ultimately have fallen comfortable with a nice swing trade say 100 to 150 plus pips then for extra scalping with the trend and support and resistance. (that's me)

Like your sig says about losing, any trader new or old that will on a whim follow another's call is at the mercy of not themself. Which in my eyes runs PARAMOUNT to all when taking a trade. YOU have to be behind it and accept the win or loss.

When people continually post either side of a cable trade there are 3 key factors that I continually mention here.

1. THE USD and what and WHY is is doing it.
2. GOLD GOLD GOLD- if there is not a more accurate read than GOLD vs USD, of USD gain / loss. I do not know and please tell me. I buy and sell physical gold and silver as well as tuck some away for the long term on DIPS.
3. DOW. Consistently DOW UP - CABLE UP

Quoting Turveyd
Correct the matter at hand is TRADING!!

GU's got buyers supporting the 55ema thus far so that'll suggest a big move coming UP!!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #181,832
  • Nov 9, 2009 6:12pm Nov 9, 2009 6:12pm
Quoting XTrade
TRUE!!!

When I started all I wanted to do was scalp....
I'm not really a scalper ie 4pips and out I'm setup for taking 100pip intraday trend moves, if I'm EVER around to get onto 1 of them

I only deal in the 100% current direction based on my system and I avoid holding over certain times where change is expected.

I wanted EJ for instance Long near 1440sma M1 it turned 5 pips to early, working though so not got the focus to trade.


Back to it
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #181,833
  • Nov 9, 2009 6:21pm Nov 9, 2009 6:21pm
Quoting Turveyd
I'm not really a scalper ie 4pips and out I'm setup for taking 100pip intraday trend moves, if I'm EVER around to get onto 1 of them

I only deal in the 100% current direction based on my system and I avoid holding over certain times where change is expected.

I wanted EJ for instance Long near 1440sma M1 it turned 5 pips to early, working though so not got the focus to trade.


Back to it
nice comment on trend trading

I know a few traders that love to counter trend trade....

today on gj waited for my reatrce to 38 % at 1`50.20 , same with gu at 1.6715 , and now we have wave 5 on each that should give 200 pip per pair ...

even intrady short term trades 9 for 2 hrs) I will try and trade with the trend

I use something called value area. If we are above the value area of the prior day I will not go short
Blogging daily now at www.volume.zone
  • #181,834
  • Nov 9, 2009 6:22pm Nov 9, 2009 6:22pm
I am currently holding 4x long from 1.6722, where I got confirmation on a 5m chart. I will be letting go of half of my order @ 1.6808 and watching with caution on the balance of the trades until we safely clear that zone.

A fail for breach and hold, I will exit and wait for my next entry later on this evening or tomorrow.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #181,835
  • Nov 9, 2009 6:27pm Nov 9, 2009 6:27pm
11 NOVEMBER 2009 TOMMOROW - UK UNEMPLOYMENT RATE

Expect to 8% rise.

  • #181,836
  • Nov 9, 2009 6:28pm Nov 9, 2009 6:28pm
Quoting malcolmb14
nice comment on trend trading

I know a few traders that love to counter trend trade....

today on gj waited for my reatrce to 38 % at 1`50.20 , same with gu at 1.6715 , and now we have wave 5 on each that should give 200 pip per pair ...

even intrady short term trades 9 for 2 hrs) I will try and trade with the trend

I use something called value area. If we are above the value area of the prior day I will not go short

Counter trend trading looks easy after the fact, ofcourse live every move down and pause looks like another bottom so it's really is a fools game, take a look at there trading accounts and you'll see.

Buyers still keep popping up near my 55ema ( Read trading software for banks and the like ) there accumulating for the time being.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #181,837
  • Nov 9, 2009 6:30pm Nov 9, 2009 6:30pm
http://www.forexfactory.com/showthre...21#post3217221

Im sticking to my origanal calls gang,


Next stop 1.6890






Next 4 Major Resistant Areas

  1. 1.6386 -OK it hit #1 and retraced- now long again to #2 1.6567
  2. 1.6567 -OK it hit #2 - now long to #3 1.6655
  3. 1.6655 -OK it hit #3 - now long to # 1.6740
  4. 1.6740 - OK it hit #4 - next target possible 1.6890

Watch for some retracement then possible long again to a target of 1.6890, no need for me to post charts, I follow the best indicator
in forex"follow the trend stupid" when I try anything else I loose
money, when I follow the trend all I do is make money. Good trading to you


"Its not whether your right or wrong thats important but how much money
you make when your right and how much you loose when your wrong."

-Warren Buffett

  • #181,838
  • Nov 9, 2009 6:30pm Nov 9, 2009 6:30pm
Quoting forex888
11 NOVEMBER 2009 TOMMOROW - UK UNEMPLOYMENT RATE

Expect to 8% rise.

That just means, the UK will have to do better next month ( only rise 7.8% ) so thats already priced in so GU will rally to 2.0000 based on this.

Sadly all opinions based on news will likely fail, the markets not that easy we'd all be millionaires already, so don't read news and risk forming a bias.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #181,839
  • Nov 9, 2009 6:37pm Nov 9, 2009 6:37pm
next price action case study. this is great example. I hope you took some green pips. If you wish - take a look on my blog for details
Attached Image (click to enlarge)
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  • #181,840
  • Nov 9, 2009 6:47pm Nov 9, 2009 6:47pm
Quoting forex888
11 NOVEMBER 2009 TOMMOROW - UK UNEMPLOYMENT RATE

Expect to 8% rise.
Basically, this mean, G/U is great to SELL this week.
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