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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Cable Update (GBPUSD)
- #238,581
- Jul 15, 2010 7:08pm Jul 15, 2010 7:08pm
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- #238,582
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"Keep your eyes on the helpers" - Mr. Rogers
- #238,584
- Jul 15, 2010 7:43pm Jul 15, 2010 7:43pm
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"Keep your eyes on the helpers" - Mr. Rogers
- #238,585
- Jul 15, 2010 8:02pm Jul 15, 2010 8:02pm
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just woke up, and see my last night entry gone..., Navin right (again) 
having no idea to trade,so see you next time.. greens pips to all..
I will be the number one Manager.
- #238,586
- Jul 15, 2010 8:21pm Jul 15, 2010 8:21pm
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having no idea to trade,so see you next time.. greens pips to all..
begh, kok gak mudun2 jeh...... salam kenal
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- #238,596
- Jul 15, 2010 9:14pm Jul 15, 2010 9:14pm
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As soon is the price reaching 1.55 wich is the last high on the weelky.
So in my view if you keep going up.. for sure at 1.55 they will be a reaction and probably a big reaction on the down move on a weekly it could be a reverse.
unless the price just cut into 1.55 like butter then we will be moving big time up
Or trader are starting to sell seen the 1.55 aproaching so we might loose momentum to try to reach that next 75pip. I think the 2 next session london and newyork will be quite interesting.
My bias is more to a sell for now .
, agree about 1.55 very interestingsoon daily close and i decided my view and what to do with my open position
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- Jul 15, 2010 9:38pm Jul 15, 2010 9:38pm
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- #238,599
- Jul 15, 2010 10:02pm Jul 15, 2010 10:02pm
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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...
I have one of the sessions to indicate a 30m period where London closed, that helps me for a quick point of reference as to where London high or low was, and the second to mark a 30m period around gmt 0, to help me identify true daily roll over.
These 2 are quite pivotal points for the chart, so, if we fall below daily open but still hold above London high, assume the long still in effect, similar with the short side.
Basically, London always fills the chart, or the chart is always zeroed out for London, and they play it continuous. IF you cut out the segments of Just London trades, you will see that there is no single price range that they do not touch.
Which is what makes things interesting for the balance of today. Seeing where they left off, and seeing the big space in the chart where NY never got a chance to buy or sell....
I am not a perma bear, but I am of the mind that we are very toppy, so, I believe those areas of only single major session play aren't that far away.
Plot your NY along with London, you will see the areas that have to be filled by both sessions. This can give you a bit of an edge, almost like playing back into the daily pivot, or at least looking for opportunity to add on confirmation for continuation of trend.
This is one of the stratagies that I use when looking into the hourly charts to help me know when to hold em, know when to fold em, know when to walk away, and know when to run....
Again, this for me is just one piece of the puzzle.
Other session tricks are to draw a trend line from GMT 0 to NY open. IF the line is up during NY, make sure you are not on the short side, if the line is down, make sure you are not on the long side, and follow the money into London Close.
Meh, again, if I can grab a few with this and add to the rest...it all adds up.
Best of luck with it!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
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- Jul 15, 2010 11:46pm Jul 15, 2010 11:46pm
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