Menu

Options

Bookmark Thread

First Page First Unread Last Page Last Post

Print Thread

Similar Threads

Cable Update (GBP/USD) without Idiots 24 replies

cable short for gbpusd? 10 replies

Cable Update - Continued 105 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

What price do you have? And if you dont mind me asking which broker?
Oh, 60 i get it.. sorry
Wait thats my sell price, were you long or short. If I were short my stop would have triigered to at 60
Quoting kill56
great morning clogg nice call about london

Yup, fake the fake and ride the ride.
Quoting cloggie
Your answer is in the question: bucketshop
GFTUK.

The reason I use them is good customer service, no connection issues, no re-quotes and instant entry on market orders.

...but like all buckets, they hound those bloody stops don't they!

I'm tempted to call them and say I checked the price on x,y,z and see what their explanation is but I'm sure they'll just pad and fill with some sales pitch rubbish.
"I made all my money by selling too soon"
Quoting forexlion


sorry, but it sounded too funny
Hi, saw your quote, the best thing that can happen to any trader is to master macd n price movement you would have better success in trading. Topped with MA.



Quoting cloggie
A couple of MA's TL's SR and fibs mainly. I do like the RVI. Stochs and MACD are just momentum indicators and pretty useless in pricedirection in my opinion. Just use a slow MA for trend and a fast one for price and Bob is your uncle.

Anyhow, we're at the DP, so looking to long from somewhere around here.
Quoting fendi
Hi, saw your quote, the best thing that can happen to any trader is to master macd n price movement you would have better success in trading. Topped with MA.

AAAHH, not doing too bad finding my 3-4 trades a day for 50-100 pips each. MACD has no bearing on price just the momentum of the move, kinda useless when you want to find the tops and bottoms without getting smelly fingers.

Using MACD is the honorary membership of the smelly finger brigade. To each their own as long as I get my 3-400 a day I will just leave those silly momentum indicators alone.
Quoting cloggie
AAAHH, not doing too bad finding my 3-4 trades a day for 50-100 pips each. MACD has no bearing on price just the momentum of the move, kinda useless when you want to find the tops and bottoms without getting smelly fingers.

Using MACD is the honorary membership of the smelly finger brigade. To each their own as long as I get my 3-400 a day I will just leave those silly momentum indicators alone.

Game, Set, Match.

Just looked at RVI now cloggie, looks good, do you use default settings or have you changed it?
Back to basics, it has to be for me!
Quoting BadTradingFi

Game, Set, Match.

Just looked at RVI now cloggie, looks good, do you use default settings or have you changed it?

I use 10 on cable
Looks like technicals over-ruled the fundies on release of that seemingly £ positive Uk CPI/RPI data at 0830am gmt....initial knee-jerk buy was met with supply...price now just consolidating off the post data lows....Some demand found in the previous 1hr swing lo=prev support=potential support zone shown below...

G/L

http://i41.tinypic.com/256tg01.jpg
ex member
Quoting bbmac
Looks like technicals over-ruled the fundies on release of that seemingly £ positive Uk CPI/RPI data at 0830am gmt....initial knee-jerk buy was met with supply...price now just consolidating off the post data lows....Some demand found in the previous 1hr swing lo=prev support=potential support zone shown below...

G/L
I wondered about that too while I was holding my short from the London Open, I think the increase was purely caused by the importation of inflation due to the low Sterling. And let's be honest nobody expects an interest rise, so even the fundies took it as not exceedingly large keeping the move down. We only just had the VAT rise here and that also had an effect on the CPI/RPI, petrol prices are increasing sharply caused by the stronger dollar and so are other commodities the UK needs to import.
Quoting bbmac
Looks like technicals over-ruled the fundies on release of that seemingly £ positive Uk CPI/RPI data at 0830am gmt....initial knee-jerk buy was met with supply...price now just consolidating off the post data lows....Some demand found in the previous 1hr swing lo=prev support=potential support zone shown below...

G/L

http://i41.tinypic.com/256tg01.jpg
true, and good point.
question for the more experienced traders.

is cable going up or down in the long term?
Quoting cloggie
AAAHH, not doing too bad finding my 3-4 trades a day for 50-100 pips each. MACD has no bearing on price just the momentum of the move, kinda useless when you want to find the tops and bottoms without getting smelly fingers.

Using MACD is the honorary membership of the smelly finger brigade. To each their own as long as I get my 3-400 a day I will just leave those silly momentum indicators alone.
I would disagree that macd is useless, even alex elder calls macd divergence the strongest signal in tech analysis...look at the move to current intraday hi today...5min t/f....price making new highs momentum fading till the great reversal set-up on the Uk data...whicxh saw a steep move down....ie momentum could not sustain price above this potential SBR level on the 1hr/4hr/daily t/f's...the previous swing lo now acting as resistance...

Momentum indicators lag but their divergence from price can be a leading indicator if combined with other tech stuff like supp/res and of course price action itself to confirm or not what the momentum indicator is telling us....this then gives us the most tech confluence on which to base a trading decision.

Each to their own, as you say...

G/L

http://i44.tinypic.com/5ldp3b.jpg
ex member
Quoting qwertymyfx
question for the more experienced traders.

is cable going up or down in the long term?
I have no idea, and nor does anyone else, and we don't need to know, we just need to play our tarding edge's which ever way it goes.

G/L
ex member
Hello.
From yesterday the trend of GBP/USD is Long and buying in 1.4394. Yesterday close one buy with 100 pip profit. Follow buy again in 1.4400 and today it is buy too.
Quoting bbmac
I have no idea, and nor does anyone else, and we don't need to know, we just need to play our tarding edge's which ever way it goes.

G/L
oh, so that makes it all ok then, lol!
Quoting bbmac
I would disagree that macd is useless, even alex elder calls macd divergence the strongest signal in tech analysis...look at the move to current intraday hi today...5min t/f....price making new highs momentum fading till the great reversal set-up on the Uk data...whicxh saw a steep move down....ie momentum could not sustain price above this potential SBR level on the 1hr/4hr/daily t/f's...the previous swing lo now acting as resistance...

Momentum indicators lag but their divergence from price can be a leading indicator if combined with other tech...
See you just proved my point, momentum indicators are useless and like you said Elder used EMA as his primary techy indicator supported by the MACD. I trade using 1 or 2 indies purely as a support for the MA's PA and SR's. Have found over the years that the MACD is not as reliable as support for larger directional moves as some other less popular indicators. Like you said to each their own and as long as I find the money shots I am not going to change that. And that is the beauty of Forex, as long as we all use different triggers, it keeps the market fluid. Like Elder said; Mind, Money and Method
Quoting qwertymyfx
oh, so that makes it all ok then, lol!

Lol, well yes actually, a trading edge is just that, an edge in the market, it is not predictive and it's sequence of successful or losing outcomes in the future cannot be predicted in advance...it is based on a historical sampole, ie everytime pattern or set-up x occurs in y particular PA conditions, z occurs on a certain % of times...ie a successful outcome...combine this with moeny managemnet and you have a trading edge....But no edge is predictive as stated above therefore it matters not where proce goes next which is just as well as all we have is our tech or fundie or whatever anallysis to telll us what the most likely probability is, but none of use actually know...how can we, unless someone has access tro the trading plans of all market participants? Just play your edge whichever way price goes, - it matters not.
ex member
here u go i hope it dos help
Attached File(s)
File Type: mq4 MACD_Divergence_V1.1.mq4   12 KB | 227 downloads
File Type: mq4 Divergence.mq4   5 KB | 208 downloads
File Type: mq4 rsi_DT-RSI-SigM.mq4   6 KB | 209 downloads
File Type: mq4 MACD_Colored_v105.mq4   16 KB | 201 downloads
Quoting qwertymyfx
oh, so that makes it all ok then, lol!

That is exactly the point. We can all hazard a guess as to where the market is going to go long term and some of us have little sentiment buttons on our posts to share that view. However your trading plan should be based on your own analysis and your entry and exit signals irrespective of someone elses or even your own long term sentiment. I have been short biased on Cable for months, however that does not mean that I won't trade the long sides when they occur, so my long term bias really does not affect my intraday trading plan. A long term view is nice to have and feels pretty good when your view comes to fruition, however on a day to day basis it is pretty useless. I do trade my long term views on a lower leveraged account as an investment, but it isn't really trading.
25 traders viewing now, 2 are members:
thevisitor
,
ihit