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Cable Update (GBPUSD)

  • #237,661
  • Jul 13, 2010 9:31am Jul 13, 2010 9:31am
Quoting 4xStar
Some change colors, some do not but as you said when price above hull you buy & vice versa.

I see everyone is still chasing indicators, but I just have to say that the one you gave the other day, Magix, is like a little ATM machine...
There is no market perfection, but these sure do keep you on the right side of the trade and help to confirm your entries on trends to be sure.

The strategy that you apply and goals you set can be based on the time frame you choose to play...and of course the sessions that are in session...

But yeah...

It sure makes things easy...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #237,662
  • Jul 13, 2010 9:34am Jul 13, 2010 9:34am
Quoting damonl


yes, looking for this more now since reading your posts.

FX trading due to the fact that it has no centralised market behaves differently then for example stocks and bonds. There are different models out there that try to mathematically and theoretically explain the relationships. One way of looking at this is that there is a trillion dollars a day market out there, way more then is really needed for the day to day operation of the countries participating. I like to use the hot coal analogy. Once a market maker receives say 5 millon worth of orders he passes them on to other interbank players, who in turn pass them on again either as liquidity providers or second tier traders, (the original order can be seen as a first tier trader) so in no time the 5 million worth of trade turns over in the market several times and could easily turn into 50 or even 100+ million by the time the plays play out.

So a large player putting in a buy order in the morning at the start of London can set of a chain reaction by the hot coal being past from pillar to post, that reaction is easier to sustain then a reversal. For the reversal to take place not only does the first coal being past around needs to settle, but a different (or the same) big player needs to now change his bias to set up a greater chain reaction in the opposite direction.

The big players that are liquidity providers see more of the order book, so their play is "informed", compared to especially ours. Their play is based on keeping the momentum going, because that gives them a profit. We just need to ride their coattails.
  • #237,663
  • Jul 13, 2010 9:37am Jul 13, 2010 9:37am
Quoting Magix
Or for more specific criteria, you can try the nolag EMA's....

Like the color change of the hulls....

Same idea.

Indicators and explanation HERE.
nice indicator
  • #237,664
  • Jul 13, 2010 9:39am Jul 13, 2010 9:39am
Quoting OldReigatian
Do you think we are looking at previous strong resistance of 1.5240 as the top, or do you think we will go further?
IDK really, but I do know that it won't break it today, though it could go higher. If it were to break it, we would need to come back down lower to some area of support to build up momentum to come and attack that level again. Could also be the H&S plays out and we will be going lower. Best to just play your charts on some ltf's and not worry too much about where it might go.
"Keep your eyes on the helpers" - Mr. Rogers
  • #237,665
  • Jul 13, 2010 9:41am Jul 13, 2010 9:41am
Quoting Magix
This gives a comparison on the M15 to play in trend with the hourly.

I would explain more, but I think you get the idea.

If you prefer to just use the indicator, kill recommends to use 16 for length for M30 and below, 20 for hourly and above.
Thanks a lot Magix,

sorry, I'm a simple minded trader, does this mean that on the M15 chart 2 Hulls are charted with periods 16 and 20?
Don't be a hero. Don't have an ego. Always question yourself
  • #237,666
  • Jul 13, 2010 9:44am Jul 13, 2010 9:44am
Quoting OldReigatian
Hi Bear

I'm on fxcm Marketscope too. How do you get the HMA up?
I'm not free to distribute but make a request with:

Robert Winters [[email protected]]
Don't be a hero. Don't have an ego. Always question yourself
  • #237,667
  • Jul 13, 2010 9:45am Jul 13, 2010 9:45am
Quoting USD-Bear
Thanks a lot Magix,

sorry, I'm a simple minded trader, does this mean that on the M15 chart 2 Hulls are charted with periods 16 and 20?
The 2 hulls on that chart are the 16 and 64.

I used the 16x4 for 15m to confirm hourly.

When both green and price is above, you know you are playing out the long trend, when both are red and price is below, you know you are playing a short trend.

If they are mixed signals, one green, one red, you are playing in the counter trend.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #237,668
  • Edited 9:46am Jul 13, 2010 9:45am | Edited 9:46am
This Screen shot is...

Just,
A little "Pip-Bragging", "Dribble",
And a little shout out & Thanks to my man Magix,
Wormboy & Navin, though everyone from the
"Night Shift" is probably cashed out!

So, -If you're looking for direction, this sure ain't it.
(By the way this is the same time or earlier, YESTERDAY I decided,
It's time to just go to work & NOT trade)!

Anyway,
You really did have to work the daily/weekly chart & the price action,
to get back on the right track today. -First trade a loss, 2nd trade doubled it back, "NORTHWard"!
Best of Pipping Gang,
'Check in when 'can w/Work & Life & such,
Terrapin Pipper,

Jeff
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I will work to Objectively Identify my Edges
  • #237,669
  • Jul 13, 2010 9:46am Jul 13, 2010 9:46am
Quoting cloggie
FX trading due to the fact that it has no centralised market behaves differently then for example stocks and bonds. There are different models out there that try to mathematically and theoretically explain the relationships. One way of looking at this is that there is a trillion dollars a day market out there, way more then is really needed for the day to day operation of the countries participating. I like to use the hot coal analogy. Once a market maker receives say 5 millon worth of orders he passes them on to other interbank players, who in...
Riding coattails! My kind of profit making
"Keep your eyes on the helpers" - Mr. Rogers
  • #237,670
  • Jul 13, 2010 9:49am Jul 13, 2010 9:49am
Quoting TerpFan2
This Screen shot is...

Just,
A little "Pip-Bragging", "Dribble",
And a little shout out & Thanks to my man Magix,
Wormboy & Navin, though everyone from the
"Night Shift" is probably cashed out!

So, -If you're looking for direction, this sure ain't it.
(By the way this is the same time or earlier, YESTERDAY I decided,
It's time to just go to work & NOT trade)!

Anyway,
You really did have to work the daily/weekly chart & the price action,
to get back on the right track today....
yo jeff good to hear from u buddy..glad to pimp'in the pips
  • #237,671
  • Jul 13, 2010 9:53am Jul 13, 2010 9:53am
Quoting TerpFan2
This Screen shot is...

Just,
A little "Pip-Bragging", "Dribble",

Anyway,
You really did have to work the daily/weekly chart & the price action,
to get back on the right track today. -First trade a loss, 2nd trade doubled it back, "NORTHWard"!

Jeff
Damn Jeff,
If I had your money, I would burn my own!

Keep hittin it brother!

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #237,672
  • Jul 13, 2010 9:55am Jul 13, 2010 9:55am
Quoting Magix
The 2 hulls on that chart are the 16 and 64.

I used the 16x4 for 15m to confirm hourly.

When both green and price is above, you know you are playing out the long trend, when both are red and price is below, you know you are playing a short trend.

If they are mixed signals, one green, one red, you are playing in the counter trend.
Ah, right all clear, will investigate, again thanks!
Don't be a hero. Don't have an ego. Always question yourself
  • #237,673
  • Jul 13, 2010 9:56am Jul 13, 2010 9:56am
Quoting USD-Bear
I'm not free to distribute but make a request with:

Robert Winters [[email protected]]
Nice one. Thanks
  • #237,674
  • Jul 13, 2010 9:57am Jul 13, 2010 9:57am
Thanks Navin,

You are callin' em like a pro in here buddy!

-I was trying to post my 4hr - in conjunction,
w/your "Daily" chart but had to focus in on my,
"Profit Taking" & NOT get distracted.

I've been doing alot of Growth work this year,
and i have to get up w/YOU GUY's to really profit accordingly.
-Unless a real pro you can't just "Jump In" willie nilly @10am,
N.Y. time and think you'll work the charts. -The bigger game
is nearing it's conclusion Most of the time.

Off to work Navin,
Have a Great One, great hearing from you all,
*CLOGGIE's previos post is CLUTCH to anyone, understanding
why NOT to SHORT/etc. until the HOT COAL has cooled!
-Bettrer Yet, NOT AT ALL... Go w/said, "Trend"!
Best of Pippin Nav,

Jeff
I will work to Objectively Identify my Edges
  • #237,675
  • Jul 13, 2010 10:03am Jul 13, 2010 10:03am
Quoting Allseeingeye
I went short then after a huge profit of 1.5 pips I desided to STAY OUT this is to confusing right now, no direction right now, I see 1.4850 minumum but I am not willing to risk, I had to good of a day yesterday & most of my losses come right after a good day! When in DOUBT stay OUT!
Hi Just back from my work and checking the post i missed
I thought we have same view but seems u changed ur view
I think this is exactly what u did

“If a man will begin with certainties, he shall end in doubts; but if he will be content to begin with doubts he shall end in certainties.”

Still hold to my View :-)
  • #237,676
  • Jul 13, 2010 10:04am Jul 13, 2010 10:04am
Quoting adrianebn
you are a good EA it seems its true then

any preference at least for RSI, MACD or other maybe?
both. tho my preference for rsi is htf.
I've cleared my current long positions for cable. Here's a reason why.
M5 divergence is building up, so I've decided to take profit instead of taking my chances. If it ends up testing higher first, no harm done.

Good luck
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Thank You
  • #237,677
  • Jul 13, 2010 10:05am Jul 13, 2010 10:05am
Quoting TerpFan2
*CLOGGIE's previos post is CLUTCH to anyone, understanding
why NOT to SHORT/etc. until the HOT COAL has cooled!
-Bettrer Yet, NOT AT ALL... Go w/said, "Trend"!
Best of Pippin Nav,

Jeff

I don't want to complicate things too much in here, not really the place for this discussion. But a lot of work has been done on autoregression of time series within price movement. In the 80's fx trading focus was on macro economics and in the early 90's we started to see mathematical models on micro economic order flows to predict the price movement, that led to autoregression theories and modeling. In layman terms it means the probability of a continued price movement verses a consolidation and reversal. Autoregressive mathemetical modeling is based on the price continuing and actually models a price move in time after a greater volatility and clustering of the price.

What I am trying to say is that a large move mathematically is more inclined to continue then to reverse. Now of course that is intra-day, once the order flow has settled down at close of business, a large continuous move of one day usually leads to a covering counter move the next.
  • #237,678
  • Jul 13, 2010 10:05am Jul 13, 2010 10:05am
Quoting Magix
Damn Jeff,
If I had your money, I would burn my own!

Keep hittin it brother!

Noooo no no brother- Those are Simply "PipperinO's"!
(I guess the way MB does the decimal it looks otherwise!)
-I also hide the cash dollar amt. early on so as too keep
cool either way on 'screen. -Keeping the Desire to Trade Well,
More than the Ducket$.

-Just some penuckle pip'$ in 'DollA's for me brother Voodoo, :-) !
Nothing substantial, -But the pips are!

**Your 24 & 200's are working nicely bro' & KEPT me IN,
a Profitable Trade!!! **

Best of Scalping as 'Pro-
I'm off to make the Donut's,

Jeff !
I will work to Objectively Identify my Edges
  • #237,679
  • Jul 13, 2010 10:12am Jul 13, 2010 10:12am
Quoting GlobalMacro
1.5080 doing its job pretty well so far...even more so some huge buy order hit the market an hour ago around this level...this breakout base is cemented hard for the time being...
bullish range breakout played out well squeezing the shorts pretty hard outta their positions above 1.5080 as anticipated this morning

- we're up sharply late LDN trading -
at 1.5180 yielding 100 pips so far...

I am expecting fresh highs for the next 24 hours...
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Hear the music before the song is over ...
  • #237,680
  • Jul 13, 2010 10:13am Jul 13, 2010 10:13am
Quoting cloggie
What I am trying to say is that a large move mathematically is more inclined to continue then to reverse.
Yes,
Hence... "MwA" getting taken out to the wood shed, just
"Jumping In" at 11/10 am.

Staying with the general move is the way to go.
-Thanks Cloggie for your often "Rebuke's"!
Workin on getting it right,

Jeff !
I will work to Objectively Identify my Edges
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