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Cable Update (GBPUSD)

  • #236,641
  • Jul 8, 2010 4:26pm Jul 8, 2010 4:26pm
Quoting cloggie
Sorry GP92, could not resist.
I got a laugh out of it. Looks like a bearish gartley to me...
  • #236,642
  • Jul 8, 2010 5:08pm Jul 8, 2010 5:08pm
Quoting 4xSuperStar
Magix, I like your new template .. thanks
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #236,643
  • Jul 8, 2010 5:14pm Jul 8, 2010 5:14pm
when you pick your levels today for your trading, can you show why you picked those levels?

thanks...

p.s. short from 51643 .. let's see where it goes and se if we can get any momentum to a nice lower reversal bar this time...
"Keep your eyes on the helpers" - Mr. Rogers
  • #236,644
  • Jul 8, 2010 5:20pm Jul 8, 2010 5:20pm
I don't know about all you guys/gals, but my 5M and 15M, 55, 100 and 200 sma's are completely compressed.... with the 30M sma's moving closer to compression with every bar...

There is a big move in the making here.. even my scapling is not working well right now, as there is nothing but upper and lower resistence levels that are worth trading....

Definitely a weird market, and I am really doing nothing but wanting to protect my profits..

Haven't really been this unsure of things in quite some time, so it is interesting for me to keep control of my emotions and still try to make good trades... so far so good
"Keep your eyes on the helpers" - Mr. Rogers
  • #236,645
  • Jul 8, 2010 5:30pm Jul 8, 2010 5:30pm
Quoting damonl
I don't know about all you guys/gals, but my 5M and 15M, 55, 100 and 200 sma's are completely compressed.... with the 30M sma's moving closer to compression with every bar...

There is a big move in the making here.. even my scapling is not working well right now, as there is nothing but upper and lower resistence levels that are worth trading....

Definitely a weird market, and I am really doing nothing but wanting to protect my profits..

Haven't really been this unsure of things in quite some time, so it is interesting for me to keep...
Would seem that daily support is on the hourly 200...

Trades off the 5m chart have been fairly clear. Scalping the 1m can be a little tougher but will help you find exits easy enough.

PS, welcome back you reprobate, wtf you been hiding?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: cablehour.jpg Size: 90 KB
Click to Enlarge Name: cable5.jpg Size: 91 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #236,646
  • Jul 8, 2010 5:32pm Jul 8, 2010 5:32pm
Sold one at 151.50, target 150, SL 152.50
  • #236,647
  • Jul 8, 2010 5:32pm Jul 8, 2010 5:32pm
Quoting damonl
...There is a big move in the making here.. even my scapling is not working well right now, as there is nothing but upper and lower resistence levels that are worth trading....

Definitely a weird market, and I am really doing nothing but wanting to protect my profits..
Agree, this is strange PA, nothing is clear....
I am short as well but will not hold much longer...
******************* I'd rather make money than be right.
  • #236,648
  • Jul 8, 2010 5:41pm Jul 8, 2010 5:41pm
Quoting Magix
Would seem that daily support is on the hourly 200...

Trades off the 5m chart have been fairly clear. Scalping the 1m can be a little tougher but will help you find exits easy enough.

PS, welcome back you reprobate, wtf you been hiding?
Agreed.. 200 is strong support, but what is tearing me up is the 100 as well, which has also acted as strong support for this long run up from the bottom.. however, 100 has been severly breeched as of lately bring support to the 200, making 100 yesterday and today more resistence than support.

If 200 wins, we go up, but with 100 a real factor now with short pressure.... what a cluster f*^k.. lol

I have been around.. I got to the point that I got so confused coming to FF I just need to take breaks now and again...

Been doing well though, trying to stay disciplined and on a trading schedule which has been thrown off lately due to the range... but progress in that I recognized the range a while back.. so that in itself is a victory...

how about you....sun shining bright on you too?
"Keep your eyes on the helpers" - Mr. Rogers
  • #236,649
  • Jul 8, 2010 5:42pm Jul 8, 2010 5:42pm
What time does Sydney open, local time... 8am or 9am?
******************* I'd rather make money than be right.
  • #236,650
  • Jul 8, 2010 5:43pm Jul 8, 2010 5:43pm
Quoting damonl
I don't know about all you guys/gals, but my 5M and 15M, 55, 100 and 200 sma's are completely compressed.... with the 30M sma's moving closer to compression with every bar...

There is a big move in the making here.. even my scapling is not working well right now, as there is nothing but upper and lower resistence levels that are worth trading....

Definitely a weird market, and I am really doing nothing but wanting to protect my profits..

Haven't really been this unsure of things in quite some time, so it is interesting for me to keep control...
i know u have u own system i have been using this 5m for scalping and its have been great for me conformation comes from m15 and m30
Attached Image (click to enlarge)
Click to Enlarge Name: 5m cable.gif Size: 18 KB
  • #236,651
  • Jul 8, 2010 5:51pm Jul 8, 2010 5:51pm
Quoting 4xStar
What time does Sydney open, local time... 8am or 9am?
keep this indi u will know the times
Attached Image (click to enlarge)
Click to Enlarge Name: 30mcable.gif Size: 29 KB
Attached File(s)
File Type: mq4 kill TIME II (VBO).mq4   38 KB | 291 downloads
  • #236,652
  • Jul 8, 2010 5:53pm Jul 8, 2010 5:53pm
Quoting damonl
Agreed.. 200 is strong support, but what is tearing me up is the 100 as well, which has also acted as strong support for this long run up from the bottom.. however, 100 has been severly breeched as of lately bring support to the 200, making 100 yesterday and today more resistence than support.

If 200 wins, we go up, but with 100 a real factor now with short pressure.... what a cluster f*^k.. lol

I have been around.. I got to the point that I got so confused coming to FF I just need to take breaks now and again...

Been doing well though,...
Reading through all the fine trader posts and the different opinions can muck you up and make you doubt your own ideas. This vast array of traders make both compelling arguements for both long and short and really it is all what time frame you choose to trade.

I have never been one much for the longer holds, but have been guilty of holding onto a trade for a couple of weeks and playing the quick money as it comes....I prefer the quick cash these days.

Why hold on for hundreds of pips in any one direction if you can successfully take a few trips daily and know that profit is locked and in the bank?

2x50 pip trades still gets you a hundred...a few smaller ones will grow as well...

The battle of the 200's....

Yeah, we are a lot conjested in the 200s on the different time frames, "The ones at the back screaming, "FORWARD", the ones at the front screaming, "BACK"....

THIS IS SPARTA!

Wait...got lost in the moment....

I agree, we are poised for a burst...soon...we have played out this range...but, as the money churns, I will continue to play this along the same lines as a Polish Sex Manual that reads, "In, Out, repeat if necessary".
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #236,653
  • Jul 8, 2010 5:58pm Jul 8, 2010 5:58pm
Quoting Magix
Reading through all the fine trader posts and the different opinions can muck you up and make you doubt your own ideas....

way to go just enjoy the ride its like making ??????
  • #236,654
  • Jul 8, 2010 5:59pm Jul 8, 2010 5:59pm
Quoting kill56
i know u have u own system i have been using this 5m for scalping and its have been great for me conformation comes from m15 and m30
I putz with lots of different things, though I try to stick with things that are pretty common.. divergence, picking a weekly trade direction for bigger safer moves along with good MM.. I really don't have any secrets... and lots of times I just add lib which most of the time are my best trades.

Always seem to be tweaking, trying to make better decisions without lots of chart clutter....
"Keep your eyes on the helpers" - Mr. Rogers
  • #236,655
  • Jul 8, 2010 6:00pm Jul 8, 2010 6:00pm
Quoting kill56
keep this indi u will know the times
Thanks .. I downloaded that one yesterday when you posted it but now I am tweaking it a bit as the times are not completely accurate .. i.e. it says NY closes at 6pm local time, I wanted to change it to 4pm as that is when the stock market closes (I know some markets open longer). Also I don't need Chicago or Spain.
I have this thing about customizing indies
******************* I'd rather make money than be right.
  • #236,656
  • Jul 8, 2010 6:02pm Jul 8, 2010 6:02pm
Quoting kill56
i know u have u own system i have been using this 5m for scalping and its have been great for me conformation comes from m15 and m30
Have you tried Magix' new template? I really like it!
******************* I'd rather make money than be right.
  • #236,657
  • Jul 8, 2010 6:04pm Jul 8, 2010 6:04pm
Quoting damonl
I putz with lots of different things, though I try to stick with things that are pretty common.. divergence, picking a weekly trade direction for bigger safer moves along with good MM.. I really don't have any secrets... and lots of times I just add lib which most of the time are my best trades.

Always seem to be tweaking, trying to make better decisions without lots of chart clutter....

cool try the tcci indi its at magix thread in the 5mplay.zip and the setting too also there for lower TF's
  • #236,658
  • Jul 8, 2010 6:05pm Jul 8, 2010 6:05pm
Quoting Magix
Reading through all the fine trader posts and the different opinions can muck you up and make you doubt your own ideas. This vast array of traders make both compelling arguements for both long and short and really it is all what time frame you choose to trade.

I have never been one much for the longer holds, but have been guilty of holding onto a trade for a couple of weeks and playing the quick money as it comes....I prefer the quick cash these days.

Why hold on for hundreds of pips in any one direction if you can successfully take a few trips...
hahahaha.. it is not even the analysis, it is when I forget that I should try to understand how my own brain works, and then try to work with the brain by not questioning myself, and thinking there is something better out there then what I am doing right now.... I actually love all the analysis, but if I start adding indies, and new methods I can get lost really fast.. and that is what I need to avoid. The hardest part is just saying.. "you know what, I am not comfortable right now, and I should wait until I am more sure about what I am seeing"
"Keep your eyes on the helpers" - Mr. Rogers
  • #236,659
  • Jul 8, 2010 6:06pm Jul 8, 2010 6:06pm
Quoting Magix
Reading through all the fine trader posts and the different opinions can muck you up and make you doubt your own ideas.
I know, at a certain point you have to just convince yourself to stick with what is working .. that said, I can never resist checking out a new template or indy .. just in case

Quote
I have never been one much for the longer holds, but have been guilty of holding onto a trade for a couple of weeks and playing the quick money as it comes....I prefer the quick cash these days. Why hold on for hundreds of pips in any one direction if you can successfully take a few trips daily and know that profit is locked and in the bank?
.

I think especially in the present global economic & political climate, better to follow the Polish Sex Manual than to try to go for the big runs .. ya just never know what is going to happen next....
The only long term trade I have is gold.
******************* I'd rather make money than be right.
  • #236,660
  • Jul 8, 2010 6:08pm Jul 8, 2010 6:08pm
Quoting 4xStar
Have you tried Magix' new template? I really like it!

working on it any thing comes from the wise man is great
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