I may be early, however, we could be seeing the signs of a major reversal in the making. USD/CAD has turned long term to the long side for the first time since April of last year.
Jim
Jim
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Cable Update (GBPUSD)
- #229,061
- May 28, 2010 10:00am May 28, 2010 10:00am
- | Additional Username | Joined May 2009 | 2,719 Posts
- #229,062
- May 28, 2010 10:10am May 28, 2010 10:10am
- | Joined May 2009 | Status: Focus + Patience = Pip$ | 1,513 Posts
Good Weekend to all & Happy Green Pippin next week!
We do live in interesting times .. and that makes forex 'interesting' too
See y'all on Tuesday. Thanks to all the pros on this thread who so generously offer their insight & support.
We do live in interesting times .. and that makes forex 'interesting' too
See y'all on Tuesday. Thanks to all the pros on this thread who so generously offer their insight & support.
*******************
I'd rather make money than be right.
- #229,063
- Edited 10:30am May 28, 2010 10:15am | Edited 10:30am
- Joined Oct 2009 | Status: Trader | 15,211 Posts
I think we have another move of at least 60 pips to the downside but we have to break the strong support level which falls right on the mid Bollinger Band on my 4hr chart. Personally I sold at 1.4580 (the green line) and just waiting for my target to be hit which is around 1.4365 (the white line).
- #229,067
- May 28, 2010 10:37am May 28, 2010 10:37am
- Joined Oct 2009 | Status: Trader | 15,211 Posts
Yea that's true. I'm at 109 pips profit so far, i will lock in 35 pips and let it ride to my target
Target, what target, you talk about a 60 pip drop while the white line is 100 away; we got twin tweezers on the weekly and good rejection of the lTL on M30 and H1 plus the 150 on M30 and H1, coupled with massive buying on the news. Be greedy and you will end up with your SL.
Then again to each their own.
Target, what target, you talk about a 60 pip drop while the white line is 100 away; we got twin tweezers on the weekly and good rejection of the lTL on M30 and H1 plus the 150 on M30 and H1, coupled with massive buying on the news. Be greedy and you will end up with your SL.
Then again to each their own.
- #229,070
- May 28, 2010 10:51am May 28, 2010 10:51am
- Joined May 2009 | Status: User of Geppy patience pills | 7,645 Posts
Don't be a hero. Don't have an ego. Always question yourself
- #229,071
- Edited 11:10am May 28, 2010 10:51am | Edited 11:10am
- Joined Mar 2007 | Status: 'sleeping in a dumpster' | 2,151 Posts
Well done!!
I've downloaded the camarilla indicator but my numbers are showing up differently? Do I have to tweak it once I've downloaded it?
Also, does anyone have a link that I can use to read up on camarilla? Thanks in advance
Different brokers, different data feeds producing different open / close and hi and lo settings, then even perhaps
adding to this the use of different formulas may clearly explain this cloudiness. The same would be true with different
traders each drawing their own trend and fibo lines off personal interpretations and viewing. Since Digger1 first introduced
the cams to this forum and knowing of his success, I have chosen to follow his parameters precisely by purchasing
the same software (Ensignsoftware.com).
Since that date, I'm glad I did because I don't like seeing all the different discrepancies in cam levels being thrown
about. Too confusing. I'm not saying one is right and another is wrong, and I'm sure Digger would say, 'study what
they have to offer (however they are configured) and form your own conclusions'.
Of equal importance and along with Digger, I also pay attention to the path of price action as it moves away from
the OPEN and personally I watch as it makes the commited moves through the 3 levels (L3 or H3)... and rather than
seeing this as an area of reversal (as is offered here by certain formulas originally used in the stock markets)... Digger
sees it as an area of further potential movement away from the OPEN that more likely will reach the 4 levels (L4 or H3)
at some point in the trading day.
Something to consider with all these discrepancies, ENSIGN is tied to the data feed with FXCM. Others have chosen
to forge off on their own to obtain these cams freely under obviously different conditions and using different broker
feeds and charting. Digger's trading partner, Geoff /UK/NZ, has tried to match these free versions of the cams with
the FXCM charts to fully integrate their trading but found that the ENSIGN charts offer so much more in customization.
Geoff is a master with charting and first to introduce the cams to Digger. They together have mastered this cam based
methodology.
Still wishing they together would start an FF thread for the benefit of all rather than sharing with a select few who they
happen to favor. Problem is, thread management is time consuming and lead to undesirable conflicts, misuse and abuse
that some prefer to avoid.
Dr. D.
- #229,072
- May 28, 2010 11:03am May 28, 2010 11:03am
- Joined Mar 2007 | Status: 'sleeping in a dumpster' | 2,151 Posts
Reached and breached!
Hey Doc! How are you? It has been a while since we spoke! Keep up the great postings with those cam level numbers. It lets me compare them to mine as I have to change GMTShift from 2.0, to 0.0 and now to -1.0, which hopefully will be the final setting on ACM. These cams are a thing of beauty. Hope your golf has been as good as your trading
Hate the bogeys in both golf and the forex. LOL
"Keep your head down and finish high!"
It's advise Billy Casper gave me for my golf game.
Good advise in golf and might apply to the forex.
Dr. D.
We'll see what happens i guess. I've been trading this way for a while using high time frames and 7 out of 10 trades reach my overall target. Worst case in this scenario my SL gets hit and i'm out with 35 pips, still not bad
But that's just my 2pips
Thanks to Magix 1sc template and some sound advice from Kill(and if you didn't get my reply to your pm,again, thank you so much!!!
) I got 30 pips last night (1AM here in boring North Carolina, 2 hours before London open) and over 200 today!!!
The last 50 pips was a beautiful thing to see, for me anyways. Using magix 1sc template on fiber, I waited for one candle to close after I had the ma's show a stop light setup (red,yellow,green)entered my short, and that's when the downgrade came in!!Another hour and I'll be out.
- #229,075
- May 28, 2010 11:53am May 28, 2010 11:53am
- Joined Nov 2009 | Status: voodoo boodoo hit man | 17,076 Posts
I agree with cloggie. It's crazy friday, and with us (in the states) having a 3-day weekend, better to be more protective of every pip you have.If you do want to roll the dice a little bit, I would switch my numbers if I were you. Meaning, I would lock in 75 pips of profit now and let set my sl to only allow me to loose 35 pips.
But that's just my 2pips
Thanks to Magix 1sc template and some sound advice from Kill(and if you didn't get my reply to your pm,again, thank you so much!!!
- #229,076
- May 28, 2010 1:34pm May 28, 2010 1:34pm
- Joined Feb 2009 | Status: Half in the Bag | 17,827 Posts
I agree with cloggie. It's crazy friday, and with us (in the states) having a 3-day weekend, better to be more protective of every pip you have.If you do want to roll the dice a little bit, I would switch my numbers if I were you. Meaning, I would lock in 75 pips of profit now and let set my sl to only allow me to loose 35 pips.
But that's just my 2pips
Thanks to Magix 1sc template and some sound advice from Kill(and if you didn't get my reply to your pm,again, thank you so much!!!
Way to go!
Always nice to see some prosperity in the house!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
- #229,077
- May 28, 2010 1:40pm May 28, 2010 1:40pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
crazy is right been on es all day trading the 1100 to 1085 band
all trades shown nicely on a 10 min chart . The sudden drop caught me by surprise but the no demand on 10 min before it at r had me in a sell anyway
then down to 1085 , just a squeak under and 10 min gave a shake out .. then up to 1100 before lcose where the 5 min gave a no supply then back to 1085. all in all a 60 point day ( 600 pip)
es ended on a no demand / upthrust kind of day right under key resistance. Based on the dialy i am expecting further weakness next week into 1050 test , this may take gu back down into that 1.4250 zone
to be honest though aud or eur is way easier than gu last 3 weeks ... like printing money
all trades shown nicely on a 10 min chart . The sudden drop caught me by surprise but the no demand on 10 min before it at r had me in a sell anyway
then down to 1085 , just a squeak under and 10 min gave a shake out .. then up to 1100 before lcose where the 5 min gave a no supply then back to 1085. all in all a 60 point day ( 600 pip)
es ended on a no demand / upthrust kind of day right under key resistance. Based on the dialy i am expecting further weakness next week into 1050 test , this may take gu back down into that 1.4250 zone
to be honest though aud or eur is way easier than gu last 3 weeks ... like printing money
I agree with cloggie. It's crazy friday, and with us (in the states) having a 3-day weekend, better to be more protective of every pip you have.If you do want to roll the dice a little bit, I would switch my numbers if I were you. Meaning, I would lock in 75 pips of profit now and let set my sl to only allow me to loose 35 pips.
But that's just my 2pips
Thanks to Magix 1sc template and some sound advice from Kill(and if you didn't get my reply to your pm,again, thank you so much!!!
Blogging daily now at www.volume.zone
First I'm going to get myself a good rest this weekend and then next week I'm going to give 1sc a shot on my real account
I've been following cam lines all week and it's been right pretty much all the time, especially with the MA's.
I've been following cam lines all week and it's been right pretty much all the time, especially with the MA's.
- #229,079
- May 28, 2010 1:48pm May 28, 2010 1:48pm
- Joined Nov 2009 | Status: voodoo boodoo hit man | 17,076 Posts
- #229,080
- May 28, 2010 1:50pm May 28, 2010 1:50pm
- Joined Nov 2009 | Status: voodoo boodoo hit man | 17,076 Posts
Way to go!
Always nice to see some prosperity in the house!