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Cable Update (GBPUSD)

  • #223,221
  • May 2, 2010 11:58am May 2, 2010 11:58am
Quoting Magix
I have a little thread that is currently in the process of being revived....
One quick question Magix, noticed your charts on the same currencies and time frames have slightly different candles to mine. I suspect it's to do with time zones or something similar, but has anyone else noticed it and found something which gets them more in line.

Slightly concerned as I may see different triggers, etc if things are slightly out. Have attached my last Cable H4...
Attached Image (click to enlarge)
Click to Enlarge Name: 4h.gif Size: 37 KB
Back to basics, it has to be for me!
  • #223,222
  • May 2, 2010 12:13pm May 2, 2010 12:13pm
Quoting BadTradingFi
One quick question Magix, noticed your charts on the same currencies and time frames have slightly different candles to mine. I suspect it's to do with time zones or something similar, but has anyone else noticed it and found something which gets them more in line.

Slightly concerned as I may see different triggers, etc if things are slightly out. Have attached my last Cable H4...
It is to do with the trading platform you are using. Magix uses FX Solutions for his voodoo boodoo and ACM for the voodoo boodoo/cams. If you setup a demo account on ACM, you should see the same results.

Ninety-year-old West Yorkshire woman hits hole-in-one
http://news.bbc.co.uk/1/hi/england/bradford/8656866.stm

<sigh> One day I will get a proper hole-in-one (62yd hole on a short course does not count!), although I did get one birdie today and it didn't rain!
  • #223,223
  • May 2, 2010 12:23pm May 2, 2010 12:23pm
I have a few charts here to ponder.
Starting off with an M5, to help explain the cycles, an H4 to show similar patterns, and the Daily for the same, on continuation of trend.

First chart is an M5.
A large part of I see price movements is based on Moving Averages. Yes, trading 101, and cable seems to love these and obeys the rules almost to a fault.

Yellow line, 200EMA, Red line, 24SMA.

Looking at the charts and different time frames, you can see the same thing. When the 24x200 in one direction, price will usually tend toward that direction. IE, when 24 drops below 200, sell cycle, when 24 above 200, buy cycle.

Point 1. on the 5m chart shows this Negative cross. On the shorter terms, and during lull times, especially with the 1m, this can weave itself into somewhat of an up-down tight trade channel, really not offering much by way of prosperity, but, spread into the longer time frames, it is a lot easier to see what can happen when this does happen. So, for point 1. on the 5m chart, I am going to call this a Negative cross, 5m chart showing bear cycle.

Point 2. The retrace. The 200EMA has a magnetic quality for price when a negative cross has been shown. I never assume that the trend will keep in place, even on an hourly, we can still correct so hard on the retrace of another time frame that we can actually NEGATE the cycle, so, I always look for Point 3.

Point 3. is what I call the trigger on trend. This works in all time frames, check the history and you can see what I am talking about. IF price is rejected at the 200 or price closes in favor of the X with the 24SMA, this trigger is PAYDIRT. Point 3 shows that the continuation and trigger on trend was a confirmation of play, a trigger on 5 that produce a quick 50.

Point 4. is every other subsequent trigger on trend. From a previous and extended 5M chart that covered 5 days, it is easy to see that this can happen several times, price tests support/resistance, at failure, the trigger produces some nice plays.

So, where am I going with this....

Have a look at the daily chart, and compare it to point 4.
Have a look at the H4 chart, compare it to point 3.

By the looks of things, it would seem that we have dropped support on both of these charts, and would seemingly want to head a lot lower.

In the longer time frames, the Money Management is crucial, and I will still be taking triggers from the shorter time frames....That being said...Good luck on the week, hope this offers a little perspective.

Attached Image(s) (click to enlarge)
Click to Enlarge Name: m5.jpg Size: 144 KB
Click to Enlarge Name: daily.jpg Size: 142 KB
Click to Enlarge Name: h4.jpg Size: 139 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #223,224
  • May 2, 2010 12:29pm May 2, 2010 12:29pm
Quoting BadTradingFi
One quick question Magix, noticed your charts on the same currencies and time frames have slightly different candles to mine. I suspect it's to do with time zones or something similar, but has anyone else noticed it and found something which gets them more in line.

Slightly concerned as I may see different triggers, etc if things are slightly out. Have attached my last Cable H4...


Quoting bbakker
It is to do with the trading platform you are using. Magix uses FX Solutions for his voodoo boodoo and ACM for the voodoo boodoo/cams. If you setup a demo account on ACM, you should see the same results.

Ninety-year-old West Yorkshire woman hits hole-in-one
http://news.bbc.co.uk/1/hi/england/bradford/8656866.stm

<sigh> One day I will get a proper hole-in-one (62yd hole on a short course does not count!), although I did get one birdie today and it didn't rain!

bbakker is correct, I use ACM for VB and fxsol for my original MTF. FXsol doesn't have that pesky 5th decimal which can on a 1m look like massive moves in an otherwise tight channel. Along with that, the math is easier, a quick glance working with the last 2 digits is a lot easier then the last 3.

I also compare these with Alpari and ODL securities. The history of the charts can show some very interesting things. FXSOL doesn't date back as far, but seems to be more accurate on the lower time frames, the others have more history and show a little more on the longer time frames.

Plus, this can also give me an idea of spread comparisons between the brokers.

What can I say, I effin love looking at charts!

PS. bbaker, take up mini golf, or putt n win, you will improve your chances of a hole in 1 drastically.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #223,225
  • May 2, 2010 12:31pm May 2, 2010 12:31pm
Quoting BadTradingFi
One quick question Magix, noticed your charts on the same currencies and time frames have slightly different candles to mine. I suspect it's to do with time zones or something similar, but has anyone else noticed it and found something which gets them more in line.

Slightly concerned as I may see different triggers, etc if things are slightly out. Have attached my last Cable H4...

try to change the values in the camai indi

sun shift from 0. to 6.0 and see if not +or -
  • #223,226
  • Edited 12:54pm May 2, 2010 12:37pm | Edited 12:54pm
Quoting Magix
bbakker

PS. bbaker, take up mini golf, or putt n win, you will improve your chances of a hole in 1 drastically.



1BB if u can hit the w hole at night u will win
  • #223,227
  • May 2, 2010 12:59pm May 2, 2010 12:59pm

2 May 2010, 1:49pm
Speculators could make a quick killing on the outcome of Thursday's General Election and undermine the borrowing plans of a new Government, after the futures market in bonds agreed to open for the first time in its history from 1am on Friday


Read more: http://www.thisismoney.co.uk/news/ar...#ixzz0mnQZVLy0

  • #223,228
  • May 2, 2010 1:09pm May 2, 2010 1:09pm
Quoting winsome

2 May 2010, 1:49pm
Speculators could make a quick killing on the outcome of Thursday's General Election and undermine the borrowing plans of a new Government, after the futures market in bonds agreed to open for the first time in its history from 1am on Friday


Read more: http://www.thisismoney.co.uk/news/ar...#ixzz0mnQZVLy0

Not forgetting that Friday is NFP day as well....

We could see Some MASSIVE volatility.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #223,229
  • May 2, 2010 1:11pm May 2, 2010 1:11pm
Quoting 2+2=4ex
Voodoo Boodoo, looks like a nice simple system with a catchy name. The charts are relatively clear and easy too (not overloaded with indi's and stuff). I am definitely going to watch on it this week. Very true also on adding a little more logic. I have my pp's as standard on my chart. Fascinating how many different systems you can find on here. Good luck and thanks for sharing.
Hi,
where is (which thread) voodoo boodoo system?

I tried "search" but still can not find.

Thanks
  • #223,230
  • May 2, 2010 1:16pm May 2, 2010 1:16pm
Quoting erap
Hi,
where is (which thread) voodoo boodoo system?

I tried "search" but still can not find.

Thanks
click on all the help its the first one
  • #223,231
  • May 2, 2010 1:18pm May 2, 2010 1:18pm
Quoting Magix
Not forgetting that Friday is NFP day as well....

We could see Some MASSIVE volatility.

true bro

u see we need the thread back and name it mtf voodoo boodoo
  • #223,232
  • May 2, 2010 1:26pm May 2, 2010 1:26pm
Quoting kill56
true bro

u see we need the thread back and name it mtf voodoo boodoo
I have had a couple of crazy weeks here kill...

Still working on compiling information and charts from the MTF and using the Cams with various brokers.

The basics are a great start, the rest will hopefully be of more benefit.

Everything in good time.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #223,233
  • May 2, 2010 2:13pm May 2, 2010 2:13pm
flying
gb 153.24

eu 133.34
  • #223,234
  • May 2, 2010 2:13pm May 2, 2010 2:13pm
Quoting Magix
PS. bbaker, take up mini golf, or putt n win, you will improve your chances of a hole in 1 drastically.

LOL
  • #223,235
  • May 2, 2010 2:15pm May 2, 2010 2:15pm
Quoting kill56


1BB if u can hit the w hole at night u will win
LOL. I got two birdies there, one called Amy and the other called Lucy
  • #223,236
  • May 2, 2010 2:23pm May 2, 2010 2:23pm
Important news
Euro region ministers agreed to a 110 billion-euro ($146 billion) rescue package for Greece to prevent a default and stop the worst crisis in the currency’s 11-year history from spreading through the rest of the bloc. The first payment will be made before Greece’s next bond redemption on May 19, said Jean Claude Trichet after chairing a meeting of euro-region finance ministers in Brussels today. The 16-nation bloc will pay 80 billion euros at a rate of around 5 percent and the International Monetary Fund contributes the rest. Greece today agreed to budget measures worth 13 percent of gross domestic product.
“It’s an ambitious program, it’s austere but it’s absolutely necessary,” Juncker told reporters. European Central Bank President Trichet, speaking at the same press conference, said Greece’s plan will “help to restore confidence and safeguard financial stability in the euro area.”



All Take care and Pay safe
  • #223,237
  • Edited 2:52pm May 2, 2010 2:41pm | Edited 2:52pm
Quoting Magix
bbakker is correct, I use ACM for VB and fxsol for my original MTF....
Thanks bbakker and magix, I'll open another demo to get things better aligned

Magix, excellent post n charts earlier too and well timed as I've been looking at when the various lines crossed over the past few days so even more useful information.

Hopefully be putting voodoo to work this week (work itself permitting) to see if I can get more green than red again

GL ALL!
Back to basics, it has to be for me!
  • #223,238
  • May 2, 2010 2:44pm May 2, 2010 2:44pm
Quoting Makeveli
flying
gb 153.24

eu 133.34

Do you have an opening price already ???
Better safe than sorry
  • #223,239
  • May 2, 2010 2:49pm May 2, 2010 2:49pm
Quoting cdforex
Do you have an opening price already ???
Early bird catches the worm

Only kidding... yes some platforms do open earlier than others!
  • #223,240
  • May 2, 2010 2:51pm May 2, 2010 2:51pm
Quoting bbakker
Early bird catches the worm

Only kidding... yes some platforms do open earlier than others!

Cool !! Actually I found the prices on forexnews... thanks anyway !
Caro
Better safe than sorry
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