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Cable Update (GBPUSD)

  • #238,561
  • Jul 15, 2010 5:12pm Jul 15, 2010 5:12pm
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"Keep your eyes on the helpers" - Mr. Rogers
  • #238,562
  • Jul 15, 2010 5:16pm Jul 15, 2010 5:16pm
Quoting nAVIN2007
i just hope he is ok..
u too man enjoy the pips bro
nAvin ,We could retrace some to down from here to 1.53
  • #238,563
  • Jul 15, 2010 5:19pm Jul 15, 2010 5:19pm
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"Keep your eyes on the helpers" - Mr. Rogers
  • #238,564
  • Jul 15, 2010 5:22pm Jul 15, 2010 5:22pm
Quoting slimcat
Hey Guys,

I'm looking for an indi which colours the candles according to each session.
Looking at creating a strategy based on the open and close price of london session only, so want all other candles obscured.
I've seen someone post a chart with this indi on it but can't remember who.

cheers slim
I havn't seen anything that colors candles but you can try the attached. The green box is London session & outlines high & low. You may have to adjust time to fit your broker time. There are also boxes for Tokyo and US sessions & you can change their color to match your chart bg so they will not show up.

Let us know how your strategy works out...
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Attached File(s)
File Type: mq4 i-Sessions.mq4   6 KB | 308 downloads
File Type: ex4 i-Sessions.ex4   6 KB | 285 downloads
******************* I'd rather make money than be right.
  • #238,565
  • Jul 15, 2010 5:27pm Jul 15, 2010 5:27pm
Quoting egkid
nAvin ,We could retrace some to down from here to 1.53
Seems I remember reading somewhere that which ever side of an outside bar breaks first is the main direction, but rarely does an outside bar just get up and go with out a pullback from the breakout. The only unknown is how far the breakout will go.... but I bet a retrace is in future..

do you exit at first darkness to re-enter if it breaks out, and if it breaks down, then yoiu should wait for the retrace back up before the continuation down...

And actually, you could retrace to the lower channel line around 1.51000 which would still not break below this outside bar on the weekly. Although, by the time it got there, it would most likely be higher....

HMMMMMM
"Keep your eyes on the helpers" - Mr. Rogers
  • #238,566
  • Jul 15, 2010 5:33pm Jul 15, 2010 5:33pm
Forgot a trendline for you guys

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"Keep your eyes on the helpers" - Mr. Rogers
  • #238,567
  • Jul 15, 2010 5:33pm Jul 15, 2010 5:33pm
Quoting darimik
going to try to play this:
Attachment
although I was able to get out of this trade for -12 pips yesterday, I might still look for a short opportunity. However I am certainly not going to try to catch the top as I might get burned in this market environment. it broke my heart
  • #238,568
  • Jul 15, 2010 5:36pm Jul 15, 2010 5:36pm
Quoting damonl
Seems I remember reading somewhere that which ever side of an outside bar breaks first is the main direction, but rarely does an outside bar just get up and go with out a pullback from the breakout. The only unknown is how far the breakout will go.... but I bet a retrace is in future..

do you exit at first darkness to re-enter if it breaks out, and if it breaks down, then yoiu should wait for the retrace back up before the continuation down...

And actually, you could retrace to the lower channel line around 1.51000 which would still not break...
U asking not easy question , I'm asking my self now close or let it run depends on my plan.
Will decided if i will hold or close my position when my daily close.
Now i need cold shower weather very hot here.
  • #238,569
  • Jul 15, 2010 5:41pm Jul 15, 2010 5:41pm
Quoting egkid
U asking not easy question , I'm asking my self now close or let it run depends on my plan.
Will decided if i will hold or close my position when my daily close.
Now i need cold shower weather very hot here.

My guess is you are going to see a very well defined reversal bar on the 1HR chart and that this will break to the upside. Good luck and have a nice shower
"Keep your eyes on the helpers" - Mr. Rogers
  • #238,570
  • Jul 15, 2010 5:47pm Jul 15, 2010 5:47pm
Quoting damonl
My guess is you are going to see a very well defined reversal bar on the 1HR chart and that this will break to the upside. Good luck and have a nice shower
Thanks , Wish u all the best bro
  • #238,571
  • Jul 15, 2010 5:52pm Jul 15, 2010 5:52pm
Quoting nAVIN2007
teach any1 forex is on crack right now..range my crack!!!

at this rate next week we could see 1.60..

hope magix never short..cause he might be in trouble..
Nav...

Why is it with chart after chart, and target after target that I complete, that you would assume that I have taken a bath on my trades?

Have you even bothered to stop over to my MTF thread and try to gain an understanding of what, why and how I trade?

I have been gone for the day, missed the run...and as much as I would have liked to have capitalized on it, I am not going to fret over a missed day of trading.

Look at the range we have played...its all new territory. I will have at least 2 more chances to play the days range....

Ya know Nav...

You talk about emotionless trading. That is fine chatter when you are only a couple bucks into the game. Keep in mind that others play for thousands where you are playing for dollars.

Let me know how you think you would fair with a million or half a million lot. You think its the same?

You think that a standard lot is the same as a micro?

Again, it really doesn't matter where price goes. I am a trend player, and can find that trend on whatever time frame it exists. My buy button gets as much use as my sell button, and the only difference is the ranges and amount of profit in the plays.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #238,572
  • Jul 15, 2010 5:58pm Jul 15, 2010 5:58pm
Thanks 4star, I've already got i sessions but that doesn't obscure the other sessions, i've tried changing background colours etc

See attached chart to see how open and close of previous london session act as support and resistance. Now it's a case of developing a strategy.

My one hour chart goes back to 2007 and the same thing applies.
Check it out yourself and let me know what you think?

cheers Slim
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  • #238,573
  • Jul 15, 2010 6:08pm Jul 15, 2010 6:08pm
Quoting slimcat
Thanks 4star, I've already got i sessions but that doesn't obscure the other sessions, i've tried changing background colours etc

See attached chart to see how open and close of previous london session act as support and resistance. Now it's a case of developing a strategy.

My one hour chart goes back to 2007 and the same thing applies.
Check it out yourself and let me know what you think?

cheers Slim
The isessions indicator was developed by a group that do exactly what you are speaking of...It is called session trading, there are a few links here at the factory if you search for them.

This is one link, but certainly not the only one...
http://www.forexfactory.com/showthread.php?t=194811

It is an excellent strategy, but is not a complete system to itself. Take what you got and incorporate the session trade ideas and it will most certainly help you out along the way.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #238,574
  • Jul 15, 2010 6:16pm Jul 15, 2010 6:16pm
Quoting Magix
The isessions indicator was developed by a group that do exactly what you are speaking of...It is called session trading, there are a few links here at the factory if you search for them.

This is one link, but certainly not the only one...
http://www.forexfactory.com/showthread.php?t=194811

It is an excellent strategy, but is not a complete system to itself. Take what you got and incorporate the session trade ideas and it will most certainly help you out along the way.
whatz up wise man

missed some action today
  • #238,575
  • Jul 15, 2010 6:23pm Jul 15, 2010 6:23pm
Quoting kill56
whatz up wise man

missed some action today
I did so Killer...

Meh...I am not gunna bitch about my week though, and to be honest with ya...I am not so sure I woulda believed the heights if I was around for them. I am still of the mind that we are waaaaaaaay overbought....

Should make for an interesting close of week and I wouldn't mind if we seen a lot more 200ish pip play days throughout the summer.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #238,576
  • Jul 15, 2010 6:39pm Jul 15, 2010 6:39pm
Quoting Magix
I did so Killer...

Meh...I am not gunna bitch about my week though, and to be honest with ya...I am not so sure I woulda believed the heights if I was around for them. I am still of the mind that we are waaaaaaaay overbought....

Should make for an interesting close of week and I wouldn't mind if we seen a lot more 200ish pip play days throughout the summer.

that will be great lets see what the market do tomorrow, 15540 will top the move , a chance to hold some in way dont give a dam where it gos up or down best of luck lets enjoy the ride
  • #238,577
  • Jul 15, 2010 6:42pm Jul 15, 2010 6:42pm
Quoting cloggie
Threads like this like to overcomplicate things when it comes to trading, Lots of posters here want to appear to be clever by predicting tops and reversal.

Fact: we have been in an uptrend for 2 months
Fact: countertrading is not for noobs

Your preparation in the morning should be to open the hourly showing 40-60 bars to show you the trend we are in and drawing a line. Buy the rejections of that line. Strategy done.

Now by all means add some indies you like or some form of whistle blowing entry signal or even a simple fast ma, but stick to your...
This is a good advice. I wish someone told me this two years ago, it will save a lot of money. This is almost what I do every day, except maybe for the indicators part, I don't use any.
  • #238,578
  • Jul 15, 2010 6:43pm Jul 15, 2010 6:43pm
Quoting Magix
I did so Killer...

Meh...I am not gunna bitch about my week though, and to be honest with ya...I am not so sure I woulda believed the heights if I was around for them. I am still of the mind that we are waaaaaaaay overbought....

Should make for an interesting close of week and I wouldn't mind if we seen a lot more 200ish pip play days throughout the summer.

feel that your right regards overbought. BP news sent the markets wild. realization tomorrow that there is a lot more to do.
  • #238,579
  • Jul 15, 2010 6:52pm Jul 15, 2010 6:52pm
thanks for the link Magix...interesting.

I've tried this before but found too many fakeouts on asian lows and highs.
Then after looking at the charts I realised why.

It seems cable likes to go either to the open or close, hi or low whichever is nearest of the previous LONDON session then continuation or reversal.

If the asian session has moved significantly away from these prices then they will use asian hi or low to break or reverse from.

The most important observation that I have found is that you must be on the right side of the starting price of the london session.

ie if first hour is up, then should be looking at longs etc.

cheers slim
  • #238,580
  • Jul 15, 2010 6:55pm Jul 15, 2010 6:55pm
On the H1 charts.. the Salmon dashed lines are at the points where the trendlines from the daily charts cross today's daily open bar.



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