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Cable Update (GBPUSD)

  • #184,561
  • Edited 10:50pm Nov 24, 2009 10:40pm | Edited 10:50pm
Quoting Magix
I hate giving away my secrets, but since Ima gunna be starting a thread anyways giving up all of my secrets, I might well throw you this little nugget.

Put a 200EMA onto a 15m chart. Check the price @ London Close...

DO YOU SEE WHAT I SEE?
OK, I'll bite on that one. Hmmmmm, 200 ema (dotted white line)...currently it's right next to what once was a nice 'gathering' 5 hrs ago. (6-144ema's on this 15m charts - now separating)

Guess I'll should paint in a few more ema's to filling in the gap from 144 - 200 on my compression charts. Sometimes I do run it up to 198ema. Although I've learned there isn't anything significant about a single isolated ma of any variety unless a repeating pattern forms associated with an ma on a particular tf chart. However, I keep seeing MAGIX form in patterns of multiple ma's.

Nevertheless, I'm likin' your style. Lots of inclusion and discussion on the ma's. I could throw all the other indicators away with the exception of a few lines drawn here and there... and trade very nicely off of just mma's.

Dr. D.
Attached Image
  • #184,562
  • Nov 24, 2009 10:47pm Nov 24, 2009 10:47pm
Quoting fourxtrader
OK, I'll bite on that one. Hmmmmm, 200 ema (dotted white line)...it's right next to 'the gathering'. (90-144ema's on this 15m charts)

[i][color=#0000ff]Guess I'll should paint in a few more ema's to filling in the gap from 144 - 200 on my compression charts. Sometimes I do run it up to 198ema. Although I've learned there isn't anything significant about a single isolated ma of any variety unless a repeating pattern forms associated with an ma on a particular tf chart. However, I keep seeing MAGIX form in patterns...
This is a guestimated fall back to support range.

Oh yeah...hyperlinked my charting thread @ the bottom of the screen.

Attached Image (click to enlarge)
Click to Enlarge Name: targetshort..JPG Size: 67 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #184,563
  • Nov 24, 2009 10:51pm Nov 24, 2009 10:51pm
Quoting Magix
This is a guestimated fall back to support range.

Oh yeah...hyperlinked my charting thread @ the bottom of the screen.

OK I'll join.

Dr. D.
  • #184,564
  • Nov 24, 2009 11:06pm Nov 24, 2009 11:06pm
Quoting fourxtrader
OK I'll join.

Dr. D.
Welcome aboard!

I haven't opened a thread to be separate from the room, or the good people here in the Cable thread, it is just that I realize that a lot of my posts are on the verge of trading systems so thought I should maybe have an explanation for how I see things.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #184,565
  • Nov 24, 2009 11:10pm Nov 24, 2009 11:10pm
As we move up a little, still with the same idea in mind, you can see how the 24SMA moves on up with us, coming to that same range for support.

hourly chart.
Attached Image (click to enlarge)
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #184,566
  • Nov 24, 2009 11:15pm Nov 24, 2009 11:15pm
Quoting Magix
Welcome aboard!

I haven't opened a thread to be separate from the room, or the good people here in the Cable thread, it is just that I realize that a lot of my posts are on the verge of trading systems so thought I should maybe have an explanation for how I see things.

Good idea. I thought of doing the same with my compression theory....
except it might only be a paragraph or two and a single chair.... LOL

You would make me return to the classroom and learn more than one
indicator. So I may remain the maverick as I always have and lurk in
the background.

Dr. D.
  • #184,567
  • Nov 24, 2009 11:19pm Nov 24, 2009 11:19pm
Quoting fourxtrader
Good idea. I thought of doing the same with my compression theory....
except it might only be a paragraph or two and a single chair.... LOL

You would make me return to the classroom and learn more than one
indicator. So I may remain the maverick as I always have and lurk in
the background.

Dr. D.
Feel free to add it to the one I got going, it will give people a reference point, and perhaps help with people asking the same questions.

If you are going to...feel free to post your template too. When I say welcome aboard mango, I mean, full on WELCOME ABOARD!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #184,568
  • Nov 24, 2009 11:27pm Nov 24, 2009 11:27pm
A slow and arduous process.... trading, watching paint dry, and the 200 ema move up with the PA.

Was at 1.6583.... Now at 1.6584. Hasn't swayed me a bit.... LOL

Dr. D.
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  • #184,569
  • Nov 24, 2009 11:32pm Nov 24, 2009 11:32pm
Quoting fourxtrader
A slow and arduous process.... trading, watching paint dry, and the 200 ema move up with the PA.

Was at 1.6583.... Now at 1.6584. Hasn't swayed me a bit.... LOL

Dr. D.
**Shrugs Shoulders**

Well, I did say it was a guess....

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #184,570
  • Edited 11:53pm Nov 24, 2009 11:35pm | Edited 11:53pm
Quoting micho
looking to sell USDCAD on 4h signal target adjustable 1.0559
looking to buy EURUSD on 4h signal target adjustable 1.498x
Quote
got in short USDCAD few hours ago at 1.05980 target brushed but not yet touched, target remains at 1.05640
that is +35
When life gives you lemons, make lemonade
  • #184,571
  • Nov 24, 2009 11:42pm Nov 24, 2009 11:42pm
Quoting Magix
Feel free to add it to the one I got going, it will give people a reference point, and perhaps help with people asking the same questions.

If you are going to...feel free to post your template too. When I say welcome aboard mango, I mean, full on WELCOME ABOARD!
No, you've got a good thing going there.
Thanks for the invite. I'll just be a student.
My addition might prove to be a reference point
to confusion and disaster.

Dr. D.
  • #184,572
  • Nov 24, 2009 11:43pm Nov 24, 2009 11:43pm
:nerd: 1.6611 !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #184,573
  • Nov 24, 2009 11:46pm Nov 24, 2009 11:46pm
hello sir
i am a very junior trader and yesterday enetered Sale at 6550 without putting a stop loss., Please can you advise where should i come out as i have only 4 more hours before to close my trade
thankyou
samer

Quoting Magix
**Shrugs Shoulders**

Well, I did say it was a guess....

  • #184,574
  • Nov 24, 2009 11:51pm Nov 24, 2009 11:51pm
Quoting manize
:nerd: 1.6611 !
51 pips could be a good daze work.

Dr. D.
  • #184,575
  • Nov 24, 2009 11:57pm Nov 24, 2009 11:57pm
looking for possible long EURCAD on signal, target adjustable 1.5906
When life gives you lemons, make lemonade
  • #184,576
  • Nov 25, 2009 12:04am Nov 25, 2009 12:04am
Quoting fourxtrader
51 pips could be a good daze work.

Dr. D.
Still no trade but 1.6611 is a crucial level to entry a short or hold long. IMHO says short at least untill 1.6583/93 !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #184,577
  • Nov 25, 2009 12:09am Nov 25, 2009 12:09am
Quoting samirjindal
hello sir
i am a very junior trader and yesterday enetered Sale at 6550 without putting a stop loss., Please can you advise where should i come out as i have only 4 more hours before to close my trade
thankyou
samer
An excellent question my friend.

We are currently on a bit of a bear run, and though I see things being overall long, we could still see a trace back down.

I play support and resistance ranges, and have speculated the plays based on just that.

My perspective is shaped by the indicators I use, but they are only valid as price is in relation to them.

How far will we fall back? Well, as we have support ranges below us, it is difficult to say with any pinpoint certainty, and I would surely no more wish to play your account for you then would any other trader in this thread.


I have forecasted a retrace into the 1.6578 area, giver take...but simply again as my indicators are currently long trend oriented to that, and bottom support shows there, I believe this to be close to the base.

A breach of this area could make you a winning trader, but again, it is completely up to you, how you play this out.(of course price has some to do with it too)

For future, I would suggest you exercise the stop loss option that your broker allows, and not learn any lessons like so many of the rest of us have.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #184,578
  • Nov 25, 2009 12:09am Nov 25, 2009 12:09am
Quoting manize
Entry long again 1.6560 ! 1.6611 !
Oh.... earlier here you gave this entry.... I thot you hit your 1.6611 target.

Dr. D.
  • #184,579
  • Nov 25, 2009 12:14am Nov 25, 2009 12:14am
Thanks for your advise
I hope i can come out at 6580


Quoting Magix
An excellent question my friend.

We are currently on a bit of a bear run, and though I see things being overall long, we could still see a trace back down....
  • #184,580
  • Nov 25, 2009 12:15am Nov 25, 2009 12:15am
Quoting fourxtrader
Oh.... earlier here you gave this entry.... I thot you hit your 1.6611 target.

Dr. D.
Unfortunately just only got + 8 pips, because she retraced untill 1.6540 before move up again !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
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