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Cable Update (GBPUSD)

  • #223,021
  • Apr 30, 2010 7:32am Apr 30, 2010 7:32am
Got in at 5295.. Man, I think I can't help to see whatever price below 5300.

I think <5300 is pretty attractive to buy. That's my 0.02.
  • #223,022
  • Apr 30, 2010 7:33am Apr 30, 2010 7:33am
Quoting A-speculator
No you're not bro... better miss the train then in the wrong train...

lol.
Fair enough mate

Jip, lets please ask all NOT to criticise in a bad way or call names... If you dont agree with something, give your view and LEAVE IT!!! you're clogging the thread! No pun intended cloggs
@pawpaw1000 on Twitter
  • #223,023
  • Apr 30, 2010 7:41am Apr 30, 2010 7:41am
Quoting A-speculator
Got in at 5295.. Man, I think I can't help to see whatever price below 5300.

I think <5300 is pretty attractive to buy. That's my 0.02.
So I take it you bought?
@pawpaw1000 on Twitter
  • #223,024
  • Apr 30, 2010 7:42am Apr 30, 2010 7:42am
The next bar on H1 closing below 53107 clears the way to 52668
  • #223,025
  • Apr 30, 2010 7:44am Apr 30, 2010 7:44am
Quoting pawpaw1000
So I take it you bought?
yups..
  • #223,026
  • Apr 30, 2010 7:44am Apr 30, 2010 7:44am
It's been discussed a couple of times on here this week that some big moves recently have been purely based on news (and therefore kneejerk reactions too usually), but does that affect how people read the charts at all?

Obviously nobody can ever predict what's going to happen, but when we've seen big moves based on news, do you more experienced guys then trade the news, factor it into charts, sit out?

Curious to hear at the moment given the Greece/Portugal/Spain situation and the pending elections over here as we could be entering week or so of news based/influenced trading.
Back to basics, it has to be for me!
  • #223,027
  • Apr 30, 2010 7:47am Apr 30, 2010 7:47am
Quoting Bull_Bear
Here's my view...

I'm on the short side... 1.5070 destination

Q how's it going

Careful with the short bro, a bit unclear today tbh. D1 is working in between 380 & the ltl.
Grab a beer bro & let's wait for the direction
Attached Image (click to enlarge)
Click to Enlarge Name: gud.gif Size: 24 KB
Thank You
  • #223,028
  • Apr 30, 2010 7:48am Apr 30, 2010 7:48am
Quoting bbakker
I will defend those others that really push the pencil who defend me. I like his style because he doesn't beat about the bush and gets straight to the point. I am like that myself but I try to restrain initially with common sense before I unleash if it is warranted, whereas he cuts straight through the crap and more often than not he hits the nail right on the head!

I am tired of seeing BS on this thread and I have now learned how to handle it, although I always give people a chance before I hit that button.

If you don't like it, you know where...
I have nothing against you baker.

The only that matters in this business.... "MAKING PIPS"

Too much energy and effort is place on CRAP which than makes you lose sight of the bigger picture.

Been the loudest or been the most poster proves nothing.

Good analysis and shared learning is everything.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #223,029
  • Apr 30, 2010 7:52am Apr 30, 2010 7:52am
Quoting marbellafx
I find the 10 15 50 EMA works on most pairs on 15M

I mainly trade cable

As regards pips I am out on this move down after 50 pips

10 crossed 50 at 1.53449 exited 1.5297
I just looked over the this week's cable on m15 with your trade signals and they do show some great longer-term trades up to a day or two to be had. Seems when these MAs bunch up together one should trade with caution and you should stay out before a clearer signal is given.
  • #223,030
  • Apr 30, 2010 7:52am Apr 30, 2010 7:52am
Quoting BadTradingFi
It's been discussed a couple of times on here this week that some big moves recently have been purely based on news (and therefore kneejerk reactions too usually), but does that affect how people read the charts at all?
The age old question, fundamentals vs technicals.

The one thing that I have come to learn is that money almost always knows the news before the general public and therefore the charts are typically shaped and guided prior to the press.

Always? No.

We have gone long chart, back to short chart, and when some view long chart here, we may have only seen the retrace on the daily that was necessary to hit back into the longer term short charts.

Trading off of the lower time frames for me is the way to handle the unknown. IF doesn't get me into every trade, dead on nut, tops and bottoms, does provide safety ranges and direction that is profitable more often then a lot of the Crayola charts that quite often get posted here.

Why guess if you can just follow the price action into profit?

Technicals vs Fundamentals...

I believe this argument like charting and trading boils down to the length of time you are willing to be in a trade and the type of trader you define yourself as.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #223,031
  • Apr 30, 2010 7:57am Apr 30, 2010 7:57am
Quoting wormboy
Q how's it going

Careful with the short bro, a bit unclear today tbh. D1 is working in between 380 & the ltl.
Grab a beer bro & let's wait for the direction
One step ahead of you mate.... Cheers bro

Noted Wormie......

Hows your trading going mate
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #223,032
  • Apr 30, 2010 7:57am Apr 30, 2010 7:57am
Quoting Bull_Bear
I have nothing against you baker.

The only that matters in this business.... "MAKING PIPS"

Too much energy and effort is place on CRAP which than makes you lose sight of the bigger picture.

Been the loudest or been the most poster proves nothing.

Good analysis and shared learning is everything.
Second that. Nice one bro..
  • #223,033
  • Apr 30, 2010 8:01am Apr 30, 2010 8:01am
Quoting bbakker
I just looked over the this week's cable on m15 with your trade signals and they do show some great longer-term trades up to a day or two to be had. Seems when these MAs bunch up together one should trade with caution and you should stay out before a clearer signal is given.

Thank you for your sound advice.

I find this works for me and worked with news and comments I read here it allows to have a clear focus on trend

Whilst I find a lot of the technical analysis here interesting I do believe that you can read too much and become confused about direction.

In all reality none of us know what the market will do as we are pawns in it.

Clarity of thought is key and my simple method allows me to focus as soon as I see the EMAs cross

Thanks again and good luck
  • #223,034
  • Apr 30, 2010 8:02am Apr 30, 2010 8:02am
Quoting cloggie
The next bar on H1 closing below 53107 clears the way to 52668

Failed, closed my short. Sitting on the sideline for now.
  • #223,035
  • Apr 30, 2010 8:10am Apr 30, 2010 8:10am
Quoting cloggie
Failed, closed my short. Sitting on the sideline for now.
H1 starting to look bullish again with that pin bar which bounced off 38.2 retracement... mmmm. what to do. WAIT FOR MY EMA's TO SIGNAL, DONT JUMP THE GUN!
@pawpaw1000 on Twitter
  • #223,036
  • Apr 30, 2010 8:12am Apr 30, 2010 8:12am
Quoting marbellafx
Thank you for your sound advice.

I find this works for me and worked with news and comments I read here it allows to have a clear focus on trend

Whilst I find a lot of the technical analysis here interesting I do believe that you can read too much and become confused about direction.

In all reality none of us know what the market will do as we are pawns in it.

Clarity of thought is key and my simple method allows me to focus as soon as I see the EMAs cross

Thanks again and good luck
Everyone has their own method of trading and we are here to share our methods and for lurkers and newbies it can be confusing with so many different methods being bandied about. For any newbie the hard bit is identifying the ones that suit your trading style and life. Any new method or style should always be tested first and then micro traded to see if it really does suit you. Just a thought.

Welcome to the thread, good luck to you too and keep posting!
  • #223,037
  • Apr 30, 2010 8:13am Apr 30, 2010 8:13am
Quoting Bull_Bear
One step ahead of you mate.... Cheers bro

Noted Wormie......

Hows your trading going mate

Nice one bro

Been a good week minus a few hiccups, the usual ..
You trading well I hope
Thank You
  • #223,038
  • Apr 30, 2010 8:14am Apr 30, 2010 8:14am
A little observation here...

True daily open, when the clocks and price reset on brokers world wide, but fails to be the daily open on most mt4 charts.

The red line is the true daily open and shows that prior to this morning, we have been buying this line, all green circles. The red circle is where we have started selling this line...when support becomes resistance.

Now, we have needed to retrace the retraced retrace, which has been done, the only thing is, we currently sit below daily support with an h4 negative cross....

An observation on trend as price in relation to this line, could save you a couple of bucks today....

Best of luck into the weekend.
Attached Image (click to enlarge)
Click to Enlarge Name: dailyopen.jpg Size: 146 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #223,039
  • Apr 30, 2010 8:14am Apr 30, 2010 8:14am
Okay i want to apologice for the miss crap that was made before 2h..


Sorry.
  • #223,040
  • Apr 30, 2010 8:14am Apr 30, 2010 8:14am
Quoting wormboy
Nice one bro

Been a good week minus a few hiccups, the usual ..
You trading well I hope
You know how I roll mate
Veni, Vidi, Vici (We came, we saw, we conquered)
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