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Cable Update (GBPUSD)

  • #237,161
  • Jul 12, 2010 7:56am Jul 12, 2010 7:56am
Quoting cloggie
Before you can even figure out your entries and exits, you need to find your "style", what sort of trader are you? Once you answer that question can you find a way to identify your entries and exits. I am a simple trendtrader, with the occasional countertrend if a solid TL is broken and there is a good enough reason to follow the counter. I do take less pips out of the CT then I do out of the trend following trades. I just find the trend on a time frame and trade the entries on a lower one. [b]Today the hourly is up, so my entries come from the...

Until now, i did not have a solid "style".
I go for 30-40 pips per day.
When i see strong pa i jump on board
and try to grab a few pips out of the flowing river.
Is it in the direction of trend i feel confident,
is it against trend i´m cautious and always ready to close out early
and take small profit/small loss.
Your advice to figure out the trend from higher tf
to the lower (H4 > H1 > M5/M15) i will study.
Thank´s
  • #237,162
  • Jul 12, 2010 7:58am Jul 12, 2010 7:58am
Quoting nAVIN2007
u were right about the fall bro..hope u caught the wave
bro was not alone in this magix cloggie WB was with me all the way it was great to the pip lets see now what will happen now
  • #237,163
  • Jul 12, 2010 7:58am Jul 12, 2010 7:58am
  •  Now
  • | Joined Aug 2006 | Status: 'I should have taken the money' | 654 Posts
Quoting amberfm
Hi all ,,,

1.5050 is a very nice resistance area to start shoring again, it goes back to 12may

I place an order there with tiny stop
Same here.
Being right is one, taking it from the table is two.
  • #237,164
  • Jul 12, 2010 8:00am Jul 12, 2010 8:00am
Today the hourly is up, so my entries come from the M5/15 in the direction of the trend. Last Friday, the H4 topped out and the Hourly retraced so I took the countertrend of the M15/M30.

Cloggie this is Magix system so i should better ask him but i give it a try; we have the EMA200 (yellow) and the Logan200 still pointing down and i believe these are the main trends; we have the logan50 support trend also pointing down, only the logan 25 trigger line is pointing up but there has been no cross between any line; like you say is the TL broken at 4998 wich was a good entry point i believe. Now which chart do we have to follow, H1 or lower timeframes which have been bullish for over 3 hours now. Last friday there was a bearish cross, so a confirmation; now there is nothing only the 25 pointing up and the brake of the trendline.

Sorry for asking
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  • #237,165
  • Jul 12, 2010 8:00am Jul 12, 2010 8:00am
Quoting wormboy
possible cable pullback soon imho with the gbplfx arriving at daily & monthly primary support levels.
Lowest I have to go before a pullback on cable is @4940. Could pullback from here even. Would be surprising tho if none of the mentioned happens & this fall straight to test 4895.
Let's see how this goes.

Good luck!
Nice ride up
The gbplfx bounced at the confluence & is looking to head towards dp. That happens, cable will likely see past current resistance @5054 & retest breakout point @5100. Partial profit booked, enjoy the ride folks!

Good luck
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Thank You
  • #237,166
  • Jul 12, 2010 8:03am Jul 12, 2010 8:03am
Quoting huskyboy
Today the hourly is up, so my entries come from the M5/15 in the direction of the trend. Last Friday, the H4 topped out and the Hourly retraced so I took the countertrend of the M15/M30.

Cloggie this is Magix system so i should better ask him but i give it a try; we have the EMA200 (yellow) and the Logan200 still pointing down and i believe these are the main trends; we have the logan50 support trend also pointing down, only the logan 25 trigger line is pointing up but there has been no cross between any line; like you say is the TL broken at...

Like you said, that is Magix's system and I am not qualified to comment on entries and setups on his trading system. You are better of asking this in his thread for some of the followers there to help you out.
  • #237,167
  • Jul 12, 2010 8:03am Jul 12, 2010 8:03am
Possible EW setup
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  • #237,168
  • Jul 12, 2010 8:11am Jul 12, 2010 8:11am
  •  Now
  • | Joined Aug 2006 | Status: 'I should have taken the money' | 654 Posts
I will eat my shoes otherwise.
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Being right is one, taking it from the table is two.
  • #237,169
  • Jul 12, 2010 8:14am Jul 12, 2010 8:14am
  •  Now
  • | Joined Aug 2006 | Status: 'I should have taken the money' | 654 Posts
Quoting StarChild
Possible EW setup
Nice piece of software on your charts.
Lets ride wave 5 down.
Being right is one, taking it from the table is two.
  • #237,170
  • Jul 12, 2010 8:16am Jul 12, 2010 8:16am
Quoting Now
Nice piece of software on your charts.
Lets ride wave 5 down.
  • #237,171
  • Jul 12, 2010 8:23am Jul 12, 2010 8:23am
Quoting huskyboy
Today the hourly is up, so my entries come from the M5/15 in the direction of the trend. Last Friday, the H4 topped out and the Hourly retraced so I took the countertrend of the M15/M30.

Cloggie this is Magix system so i should better ask him but i give it a try; we have the EMA200 (yellow) and the Logan200 still pointing down and i believe these are the main trends; we have the logan50 support trend also pointing down, only the logan 25 trigger line is pointing up but there has been no cross between any line; like you say is the TL broken at...
Lemme see if I can help you out here by having a look at a few of the current time frames.

So far, resistance at top was greater then buyers had strength to push, so we seen a bit of a fall. We dropped below the 200ema on all lower tf's from the 1m through the hourly. Price has not yet triggered on trend yet. So, for a full follow through and before we see a lot more down, expect a retrace back to the 200EMAs on the H1, M30 and M15 charts. Once we get to these points, if the 200 holds, we will be looking at a target at the 200EMA on the H4 chart if we get a trigger on trend from the H1. Trigger will be a retrace to the hourly 200EMA and rejection.

Current possible topside and bottom side targets. 5m current for the bulls, 15m still showing signs of weakness. Still a bearish day, movement will most likely seek bottom side support in a range that NY session hasn't seen yet before we see a full on retrace. The 200s are a moving target, so, from the Hourly back, we could still see these lines come down before they are actually closed and triggered.

Hope this helps.

Follow the triggers and direction on 5m charts in favor of the major, watch for support and resistance on the other TF's.
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #237,172
  • Jul 12, 2010 8:26am Jul 12, 2010 8:26am
Quoting amberfm
Hi all ,,,

1.5050 is a very nice resistance area to start shoring again, it goes back to 12may

I place an order there with tiny stop
I wish its the time for it....
  • #237,173
  • Jul 12, 2010 8:27am Jul 12, 2010 8:27am
i dont realy post here just go threw people post. I am not a ew expert but i see a alternative count and tell me if i am wrong. From 1.5200 to 1.4949 we can have wave 1. Now wave 2 can be in place now at 1.5047 which is the 61.8 fib level and we can have wave 3 now down to 1.4797. Just my view of things if it works out its good if it dont i only loose a few pips.
  • #237,174
  • Jul 12, 2010 8:27am Jul 12, 2010 8:27am
Quoting kill56
bro was not alone in this magix cloggie WB was with me all the way it was great to the pip lets see now what will happen now
no doubt
  • #237,175
  • Jul 12, 2010 8:30am Jul 12, 2010 8:30am
Quoting Neller
i dont realy post here just go threw people post. I am not a ew expert but i see a alternative count and tell me if i am wrong. From 1.5200 to 1.4949 we can have wave 1. Now wave 2 can be in place now at 1.5047 which is the 61.8 fib level and we can have wave 3 now down to 1.4797. Just my view of things if it works out its good if it dont i only loose a few pips.
Posting a chart with your analysis is always a good thing.

Not saying you are right or wrong...I don't follow the EW, prolly cuz I'm not smart enough, but if I seen your chart, I might gain an understanding.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #237,176
  • Jul 12, 2010 8:31am Jul 12, 2010 8:31am
new's in 30 min
  • #237,177
  • Jul 12, 2010 8:32am Jul 12, 2010 8:32am
  •  Now
  • | Joined Aug 2006 | Status: 'I should have taken the money' | 654 Posts
Quoting amberfm
I wish its the time for it....
Patience... .
Being right is one, taking it from the table is two.
  • #237,178
  • Jul 12, 2010 8:33am Jul 12, 2010 8:33am
  •  Now
  • | Joined Aug 2006 | Status: 'I should have taken the money' | 654 Posts
Quoting Neller
i dont realy post here just go threw people post. I am not a ew expert but i see a alternative count and tell me if i am wrong. From 1.5200 to 1.4949 we can have wave 1. Now wave 2 can be in place now at 1.5047 which is the 61.8 fib level and we can have wave 3 now down to 1.4797. Just my view of things if it works out its good if it dont i only loose a few pips.
What timeframe are you looking at?
Wavecounts, are different within different tf's.
Anyway, 1.4797 is good for me by NY close
Being right is one, taking it from the table is two.
  • #237,179
  • Jul 12, 2010 8:33am Jul 12, 2010 8:33am
Quoting Now
I will eat my shoes otherwise.
only shoes not her azz
  • #237,180
  • Jul 12, 2010 8:35am Jul 12, 2010 8:35am
  •  Now
  • | Joined Aug 2006 | Status: 'I should have taken the money' | 654 Posts
Quoting forexlion
only shoes not her azz
her azz?
Being right is one, taking it from the table is two.
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