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Cable Update (GBPUSD)

  • #242,421
  • Aug 2, 2010 11:18am Aug 2, 2010 11:18am
Quoting posterboy
Trading can be simple .....for the first time in my 2 yrs of on and off trading life i realize that all thanks to cloogs & 4 stars doc she left....short from friday was closed at 15693 took short from 15727 booked at 5703 long sl just below pivot and still riding 1 lot sl moved 5830..all thanks again to cloogs indi can go out of my chats just left ema's

Just be careful with that last long, we had 2 TL failures on M5 and finally a proper doji on the hourly that so far is not being rejected. Am not saying to go short here, but don't give profit back to the market unnecessarily.
  • #242,422
  • Aug 2, 2010 11:20am Aug 2, 2010 11:20am
with talk of cloggies boxes , not sure if the mml works or would be easier to use in this method.

mml is gann sq of 9s

I often set it on a 15 min time frame to get 1/4 of days range per octave. this gives me s/r lines to work between

for example eu we can see the average range is 120 pip , this divided into 4 is 30 pip between mml. i adjusted time setting to get this and this gives me my battle line for the day ...

pretty cool method.

Now if i see any form of high volume coming in on a 15 min close to one of these mml lines i know top of day may be in . Hence my 3190 eu target today that i closed at

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  • #242,423
  • Aug 2, 2010 11:22am Aug 2, 2010 11:22am
Hmm lets play with luck cloggs i had more than i expected todays earn.. And with safe and hassel free trading.. I think iam gonna put that on line just for fun sake ..i know you might not agree with as trader money is money..large bill or coins...
Quoting cloggie
just be careful with that last long, we had 2 tl failures on m5 and finally a proper doji on the hourly that so far is not being rejected. Am not saying to go short here, but don't give profit back to the market unnecessarily.
We cannot direct the winds but we can adjust our sail.
  • #242,424
  • Aug 2, 2010 11:23am Aug 2, 2010 11:23am
Quoting posterboy
Hmm lets play with luck cloggs i had more than i expected todays earn.. And with safe and hassel free trading.. I think iam gonna put that on line just for fun sake ..i know you might not agree with as trader money is money..large bill or coins...

Why not just take your money and reenter on the dip? Mop it up on the way up. Luck has no place in trading leave that for the poker table.

This is the 4th Doji/Harami on the hourly and the first that has failed 2 TL's on the M5 and a spinning top on the M30. NY had its high, now let's see if it can fill some of the range.

So far the day has been text book, a Franky fake, a fake on the break of the LO, a solid LO, an intermediate consolidation with a continuation, a solid NYO, NY has set the high. The only thing missing so far is NY filling the range and TY giving us the retrace.
  • #242,425
  • Aug 2, 2010 11:26am Aug 2, 2010 11:26am
do you think will we get a bargain price at around 15750 area i mean its one way top without a retrace of significant pips like 150 or so.... i still hesitate a little as i take 3 lots every time i trigger....
Quoting cloggie
Why not just take your money and reenter on the dip? Mop it up on the way up.
We cannot direct the winds but we can adjust our sail.
  • #242,426
  • Aug 2, 2010 11:28am Aug 2, 2010 11:28am
Quoting posterboy
do you think will we get a bargain price at around 15750 area i mean its one way top without a retrace of significant pips like 150 or so.... i still hesitate a little as i take 3 lots every time i trigger....

It's your money. We are now back at the top of the NYO range, just see how the PA reacts here.
  • #242,427
  • Aug 2, 2010 11:30am Aug 2, 2010 11:30am
86 yeah hhhhhhhh ok i done for 2 day.....
Quoting cloggie
It's your money.
We cannot direct the winds but we can adjust our sail.
  • #242,428
  • Aug 2, 2010 11:35am Aug 2, 2010 11:35am
just another method using mml and a simple trend following rsx ...

on a 5 min .. up and down would have produced 90 pip plus on three trades shown

again i am a vsa trader and I have a whole thread dedicated to that. these are just some idea / trade methods that can be used

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  • #242,429
  • Aug 2, 2010 11:42am Aug 2, 2010 11:42am
Quoting Shakespear
http://i173.photobucket.com/albums/w...8/gbpusdh4.gif

please help me. I just lost 40 $ what i can do now
Anyone tell me any info analysis at this chart..
  • #242,430
  • Aug 2, 2010 11:51am Aug 2, 2010 11:51am
Quoting Shakespear
Anyone tell me any info analysis at this chart..

Yup, the trend is up, all your MA's confirm it and the RSI is starting to consolidate. Not a good point to add to your longs yet. Scale down to a lower TF and see where the current consolidation ends to join your trend again. Also keep an eye on that top of the channel to see if that becomes support.

Oh and the next time you want to pick a top take a 100 dollar bill, burn it and keep the ashes in a saucer on your desk as a reminder of the futility. The second time you want to pick a top, burn 2 100 dollar bills, the third time send me a PM, I know of a good truckdriving school.

Knew there had to be one....

Have a good day folks, I am done for the day, will check in on that next H4 bar to see if she's done yet.
  • #242,431
  • Aug 2, 2010 11:58am Aug 2, 2010 11:58am
Many thanks cloggie and everyone else in the thread.

Off for today............ Up 79 pips on the day........ Learning loads and most of it is sticking in the little brain cells for a change

Bee well all
  • #242,432
  • Aug 2, 2010 12:48pm Aug 2, 2010 12:48pm
Quoting posterboy
TRADING CAN BE SO SIMPLE..I JUST SAW THAT 2 DAY ....GREAT SALUTE....BUT ONE SMALL QUESTION FOR YOU? DOES THE SAME STRATEGY APPLY FPR gold TRADING....I TRIED I WITH GOLD IT TOOK 2 OF MY STOPS
You might want to talk to my friend, XTRADE at the FF's:

Forums > Commodities and Stocks
http://cdn.forexfactory.com/images/m..._finallink.gif XAU/USD & XAG/USD - Gold & Silver FX Traders Thread

Seems to be his forte. Here's his last post:

http://www.forexfactory.com/showthre...96#post3916496

Dr. D.
  • #242,433
  • Aug 2, 2010 1:01pm Aug 2, 2010 1:01pm
Just checking in on this hourly bar, nice grave stone besides the Doji. Glad I closed my longs, she is still consolidating here. Will check again in an hour on the H4 close.

See you guys.
  • #242,434
  • Aug 2, 2010 1:19pm Aug 2, 2010 1:19pm
Quoting cloggie
Just checking in on this hourly bar, nice grave stone besides the Doji. Glad I closed my longs, she is still consolidating here. Will check again in an hour on the H4 close.

See you guys.

Bearish Reversal Patternshttp://www.fxwords.com/images/words/...ck-pattern.jpg




GU needs to continue on down to seal the deal.

Dr. D.
Attached Image
  • #242,435
  • Aug 2, 2010 1:25pm Aug 2, 2010 1:25pm
but then again i asked cloggie if the same setup box consolidation breakouts work same with gold ...I t does but once in 4 trades took two sl and to tp so still wana beck test it for while on demo and with live ...XTRADE is good but few posts from in day.....that the only complain,,ehheheh
Quoting fourxtrader
You might want to talk to my friend, XTRADE at the FF's:

Forums > Commodities and Stocks
http://cdn.forexfactory.com/images/m..._finallink.gif XAU/USD & XAG/USD - Gold & Silver FX Traders Thread

[color=blue][i]Seems to be his...
We cannot direct the winds but we can adjust our sail.
  • #242,436
  • Aug 2, 2010 1:48pm Aug 2, 2010 1:48pm
hello everyone, im a newbie to forex, i dont work in finance, but like everyone in the world im interested in changing career and having a bit more time and money, forex is one option, a difficult one, but still worth trying...

anyway iv been reading this thread and im not quite following the Riverbox trading system that some of you use. I dont understand how you find the bottom or the top of the box?

any enlightment on this would be a great start, thank you
  • #242,437
  • Aug 2, 2010 1:59pm Aug 2, 2010 1:59pm
Just checking in on this H4 bar, still nothing to trade. Last hour of cash trade coming up here, not likely to get us anywhere soon.
  • #242,438
  • Aug 2, 2010 2:01pm Aug 2, 2010 2:01pm
Quoting monkey@forex
hello everyone, im a newbie to forex, i dont work in finance, but like everyone in the world im interested in changing career and having a bit more time and money, forex is one option, a difficult one, but still worth trying...

anyway iv been reading this thread and im not quite following the Riverbox trading system that some of you use. I dont understand how you find the bottom or the top of the box?

any enlightment on this would be a great start, thank you

Breakouts of ranges formed by Support and Resistance on lower timeframes to find opportunities to use dips to enter in order to follow the higher TF trend. If you are thinking about getting started in FX, this would not be the right thread to gain some knowledge, this is a trading thread, a place to compare and discuss trade setups; a certain in depth knowledge of at least the terminology is expected here. Go have a look at babypips.com or the rookie section.
  • #242,439
  • Aug 2, 2010 2:09pm Aug 2, 2010 2:09pm
this is a very large uptrend nobody should be thinking about selling at the moment
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  • #242,440
  • Aug 2, 2010 2:12pm Aug 2, 2010 2:12pm
Quoting cloggie
Just checking in on this H4 bar, still nothing to trade.
lol, well here you go cloggie ha ha bash away , I have to see where tommorrows pivot is at to see if worth holding but have taken a small posistion short at 1.5890 reasons on the chart lol. Not calling a top by any means but could be a little retrace , will not hesitate to cut them if they go under by much , seems like we have a few channels or trend lines to test but doesent mean it will happen , May be looking to hard for a reason to sell but the sell side of platform tab has dust on it , just had to clean it off lol
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