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Cable Update (GBPUSD)

  • #189,901
  • Dec 29, 2009 2:20pm Dec 29, 2009 2:20pm
Moving averages have their place ...

they are better on higher time frames as smaller time frames price can fluctuate around them

magix was talking about a 15 min chart and a 24 sma . When you have a 24 sma on a chart the 24 period will be based on the chart period that you are showing ( ie last 24 bars for 60 min is a 24 sma on a 60 min chart)

I prefer a hulls moving average as it is a lot quicker and smoother.

You can google mt4 hull ma ...

but here is an exiangl chart with it on

on a setting of 20 hulls moving average colour change is about the same as a 4 and 8 sma cross over ....

here is how the weakness was seen prior to down move gu today and how to play the trade under the daily pivot.

time to close trade is when price cross back above the hma

Attached Image (click to enlarge)
Click to Enlarge Name: chart1525.png Size: 208 KB






Quoting Nomi1
this post is by magix.

As a small suggestion...watch the 15m chart for entries and use the 24SMA. IF price closes above 24SMA you probably don't want to be holding a short...If price closes below the 24SMA, you don't want to be holding a long.



can some one explain me this. 15m i think is a 15 minute chart 24sma i guess means 24 day simple moving average also what does 200ema means and what do we look in it. u guys talk about 4h chart. i use forex solutions and the have minutes, 1 hour and daily charts so how can i make 4h chart. thanks.
Blogging daily now at www.volume.zone
  • #189,902
  • Dec 29, 2009 2:28pm Dec 29, 2009 2:28pm
Quoting GlobalMacro
Hi Malcolmb,

5 min is too low a TF for me, having said that though...the breakout (false as of now IMO) was very sharp...but all of a sudden selloff just evaporated...as long as bears cannot sustain further selling, this is to me nothing more than a knee-jerk reaction to some random news hitting the market...

bears at this point do have a real chance to show what they're made of, otherwise a very nasty Short Squeeze will be the only logical response...

Cheers
GM

The thing I found really interesting on the up move is that it was on no volume.

They were just pushing price up to sell at higher price.

Now we see a load of volume in the 5860 area ( could be buyers) and still selling interest at 1.5930.

I think for reaction to that ultra wide down high vol 30 min candle we have to wait till next session , for now it knocked market sideways

The up move to begin with was super weak finishing on a frankie trap up move on the 60 min at 1.6060

Attached Image (click to enlarge)
Click to Enlarge Name: chart1526.png Size: 251 KB
Blogging daily now at www.volume.zone
  • #189,903
  • Dec 29, 2009 2:40pm Dec 29, 2009 2:40pm
thanks malcm and magix.

i use fx solutions practice account for charting as my portal does not have good charts. it seems like the fx sol practice account is very limited in charting. is there a place where i can get complete set of charts either down load or buy them so i can use the same charts as the pros. also i know u guys will be agianst this idea and i understand that trading is learnt with experince but is there a book that you guys can recommend for me to read so i can understand this better. thanks for your help.
  • #189,904
  • Dec 29, 2009 2:48pm Dec 29, 2009 2:48pm
hi whats new malc ? p.s nice book
  • #189,905
  • Dec 29, 2009 2:49pm Dec 29, 2009 2:49pm
Quoting malcolmb14
Moving averages have their place ...

they are better on higher time frames as smaller time frames price can fluctuate around them

magix was talking about a 15 min chart and a 24 sma . When you have a 24 sma on a chart the 24 period will be based on the chart period that you are showing ( ie last 24 bars for 60 min is a 24 sma on a 60 min chart)

I prefer a hulls moving average as it is a lot quicker and smoother.

You can google mt4 hull ma ...

but here is an exiangl chart with it on

on a setting of 20 hulls moving average colour...

If you look at any single time frame with any single indicator it too will lead you to believe that there is no way to prosper in this market. Hull is a good indicator, similar to what I used to use in stock trading, but again, on a single time frame only gives a look at a single piece of the puzzle.

Charts that I had posted yesterday, show where top of the chart was on both the hourly and the 4hr charts. 200EMA on the hourly and 55EMA on the 4hr, moving averages I have chosen because of their forecast ability, and because of the price reaction at these lines.

IF you sat 24 hours per day for the entire of the market trading session, you would most likely have a feel for what and where on the entries. If you want to maintain proper money management and maximize your trade ranges, you will look to smaller time frames that make up the large and play the assumption of the major trend.

If you find yourself in a trade that goes against the 5m/15m 24SMA and closes candle, get out. Why hold a loser or watch green go red?

The smaller will allow you to get in like a lamb, out like a lion, never sleep on trades and erase the words hopeful trader and replace them with profitable trader.

There are always better positions, if not just other positions.
Attached Image (click to enlarge)
Click to Enlarge Name: resist.GIF Size: 68 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #189,906
  • Dec 29, 2009 2:52pm Dec 29, 2009 2:52pm
Quoting Nomi1
thanks malcm and magix.

i use fx solutions practice account for charting as my portal does not have good charts. it seems like the fx sol practice account is very limited in charting. is there a place where i can get complete set of charts either down load or buy them so i can use the same charts as the pros. also i know u guys will be agianst this idea and i understand that trading is learnt with experince but is there a book that you guys can recommend for me to read so i can understand this better. thanks for your help.
CLICK HERE

Same meta charts I use.

I use the demo charts even though I trade live with FXsolutions.

I prefer the GTS pro platform for trading, so, use the demo charts for watching.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #189,907
  • Dec 29, 2009 3:00pm Dec 29, 2009 3:00pm
100 % agree that is why I have 6 x 22" monitors ( about to upgrade 2 middle ones to 30"). I can out 12 monitors on this computer but think 6 is enough for now.

I have three time frames for gu and eu 1 monitor each

then 15 min eu and gu on 1 monitor

Tradeguider on 1 monitor

and custom scanner for esignal another monitor

Attached Image (click to enlarge)
Click to Enlarge Name: screen.jpg Size: 239 KB








Quoting Magix
If you look at any single time frame with any single indicator it too will lead you to believe that there is no way to prosper in this market....
Blogging daily now at www.volume.zone
  • #189,908
  • Dec 29, 2009 3:03pm Dec 29, 2009 3:03pm
Quoting malcolmb14
100 % agree that is why I have 6 x 22" monitors ( about to upgrade 2 middle ones to 30"). I can out 12 monitors on this computer but think 6 is enough for now.

I have three time frames for gu and eu 1 monitor each

then 15 min eu and gu on 1 monitor

Tradeguider on 1 monitor

and custom scanner for esignal another monitor

Attachment

With a setup like that...

I wanna surf pr0n @ yer house!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #189,909
  • Dec 29, 2009 3:04pm Dec 29, 2009 3:04pm
Quoting malcolmb14
Tradeguider on 1 monitor
Are you using the new Tradeguider v4.0 or older version?
Thanks
JQ
The Only Constant Is Change!
  • #189,910
  • Dec 29, 2009 3:13pm Dec 29, 2009 3:13pm
G/U Chart
Attached Image (click to enlarge)
Click to Enlarge Name: GbpUsd-12-29.gif Size: 20 KB
* Never Trust To Any Indicator *
  • #189,911
  • Dec 29, 2009 3:17pm Dec 29, 2009 3:17pm
Quoting Magix
With a setup like that...

I wanna surf pr0n @ yer house!
a different category on each monitor !!!
Blogging daily now at www.volume.zone
  • #189,912
  • Dec 29, 2009 3:18pm Dec 29, 2009 3:18pm
hello guys
I 'have been watching this thread for a year, i learned many things and want to thank every one here for making the trade more simple and profitable.
this is my first post here, and i will start to post after the holiday.
i have a good experience and it become better because of u guys, now i have my own trading strategy and i would like to share it with u all and maybe we can improve it more by ur help.

thank u all and happy new year
Winning isn't Everything...Winning is THE ONLY THING
  • #189,913
  • Dec 29, 2009 3:18pm Dec 29, 2009 3:18pm
Quoting Nomi1
thanks malcm and magix.

i use fx solutions practice account for charting as my portal does not have good charts. it seems like the fx sol practice account is very limited in charting. is there a place where i can get complete set of charts either down load or buy them so i can use the same charts as the pros. also i know u guys will be agianst this idea and i understand that trading is learnt with experince but is there a book that you guys can recommend for me to read so i can understand this better. thanks for your help.
Download MetaTrader 4. from any broker. It is free
  • #189,914
  • Dec 29, 2009 3:21pm Dec 29, 2009 3:21pm
Quoting Magix
With a setup like that...

I wanna surf pr0n @ yer house!

malc have 10 houses
  • #189,915
  • Dec 29, 2009 3:21pm Dec 29, 2009 3:21pm
Quoting JazzmanQ2
Are you using the new Tradeguider v4.0 or older version?
Thanks
JQ

I had tg 2.0 ... then with the new one coming out I like the scanner and the fact that signals are put on the bars as they happen

typically I just scan my regular charts to find vsa set ups , buto ne thing i do like about the new tg 4.0 is the on bar set ups.

here is 30 min I tuned into this morning with trend already down on daily just about shit my pants when i saw all those nice little red arrows at 1.6050

The 5k for tg4.0 is really steep now though ....it is good but not 5 k good.

Attached Image (click to enlarge)
Click to Enlarge Name: tradeguider.jpg Size: 177 KB
Blogging daily now at www.volume.zone
  • #189,916
  • Dec 29, 2009 3:24pm Dec 29, 2009 3:24pm
Quoting Shad
G/U Chart

Now I am not sure if that is a picture of you ... but if it is ..

when Magik is over at my house using my monitors to do his dirty deed can i come trade with you at your house ?

(knowing my luck Shad is probably a guy) lol
Blogging daily now at www.volume.zone
  • #189,917
  • Dec 29, 2009 3:27pm Dec 29, 2009 3:27pm
Quoting dil
malc have 10 houses
Where are you dil all the day?
we really missed you
  • #189,918
  • Dec 29, 2009 3:29pm Dec 29, 2009 3:29pm
10 second futures chart.

BR
Attached Image (click to enlarge)
Click to Enlarge Name: GPFUT.JPG Size: 119 KB
  • #189,919
  • Dec 29, 2009 3:30pm Dec 29, 2009 3:30pm
Quoting Baby-Trader
Where are you dil all the day?
we really missed you
reading malc book whats new ?
  • #189,920
  • Dec 29, 2009 3:59pm Dec 29, 2009 3:59pm
Quoting Magix
With a setup like that...

I wanna surf pr0n @ yer house!
dammmmmm can come with u plzzzz
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