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Cable Update (GBPUSD)

  • #243,201
  • Aug 4, 2010 11:23am Aug 4, 2010 11:23am
draw fat lines on charts..ok i hope it will nt effect entry point..give it a shot

Q1 break hold and retest below 15861 shorts confirmation?

and your views on wormboy's posts..?


Quoting cloggie
That's it a simple TL and a couple of lines will keep you on the right side of the market. Also draw your lines with a crayon not a pencil.
We cannot direct the winds but we can adjust our sail.
  • #243,202
  • Aug 4, 2010 11:24am Aug 4, 2010 11:24am
I know its kinda early, but I am long here.. Got a bad fill entry is 1.5887.. stops at 20 pips below.. 1.5868
  • #243,203
  • Aug 4, 2010 11:24am Aug 4, 2010 11:24am
Quoting cloggie
London is closed so 70% of the market has disappeared, NY will give us a bit more after 1300 or so, they have set the low now see if they are going to fill the days range or set a new low, once you got that figured you are pretty safe in your direction until TY gives us the retrace.

It is dead for 2 reasond, one is the LC, the other one is the momentum bar on the hourly that so far has not been confirmed yet.
Thanks you have been most helpful.
  • #243,204
  • Aug 4, 2010 11:25am Aug 4, 2010 11:25am
Quoting posterboy
draw fat lines on charts..ok i hope it will nt effect entry point..give it a shot

Q1 break hold and retest below 15861 shorts confirmation?

and your views on wormboy's posts..?

By all means draw thin ones just don't act on them unless the close of the bar justifies it and not just the lo/hi.

As to Wormy, he can't dedicate the time needed right now so he took his money at a logical place, that's what H4 traders do, guys like me who spend most of the day behind the screens can give it a bit more leeway.
  • #243,205
  • Aug 4, 2010 11:26am Aug 4, 2010 11:26am
Quoting peach
I know its kinda early, but I am long here.. Got a bad fill entry is 1.5887.. stops at 20 pips below.. 1.5868

From a pattern point of view, there is some justification, tweezers and a spinner on the 30. Probably a 60/40 trade as there is no price confirmation yet.
  • #243,206
  • Aug 4, 2010 11:28am Aug 4, 2010 11:28am
Quoting GlobalMacro
only if the break is accompanied by strong momentum...but it's getting late in the session...
Thanks Mun. always do go with momentum and only within london..still cant work out how to post a chart. ..shall work it out eventually.. thanks for your careing..and all goodies to you..
All systems of divination, like music itself,work through patterns.
  • #243,207
  • Aug 4, 2010 11:28am Aug 4, 2010 11:28am
Quoting cloggie
From a pattern point of view, there is some justification, tweezers and a spinner on the 30.

yo cloggie whats up?


are you watching gbp/chf? its gettin streched. i think i might take a position here @ wkly r2....there seems to be some resistance here and at the 76 fib

edit: i think the fib looks better......placed a small short there....
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  • #243,208
  • Aug 4, 2010 11:31am Aug 4, 2010 11:31am
Quoting mfoste1
yo cloggie whats up?


are you watching gbp/chf? its gettin streched. i think i might take a position here @ wkly r2....there seems to be some resistance here and at the 76 fib
I've been watching that one as well & thinking the same thing .. the run up today was copying the Swissy .. and I;m not sure if some fundie news has come out affecting the Swissy and if so, for how long.
******************* I'd rather make money than be right.
  • #243,209
  • Aug 4, 2010 11:31am Aug 4, 2010 11:31am
Here you go popsicle...
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  • #243,210
  • Aug 4, 2010 11:32am Aug 4, 2010 11:32am
how do cal pivots?do you have mt4 indicator..?if yes please attach it..mines is off all the time downloaded from ff top right? its being giving out wrong pivots
We cannot direct the winds but we can adjust our sail.
  • #243,211
  • Aug 4, 2010 11:32am Aug 4, 2010 11:32am
Quoting 4xStar
I've been watching that one as well & thinking the same thing .. the run up today was copying the Swissy .. and I;m not sure if some fundie news has come out affecting the Swissy and if so, for how long.

Just the SNB again.
  • #243,212
  • Aug 4, 2010 11:33am Aug 4, 2010 11:33am
Darn it miss another fork setup while wondering anything moving at all.
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  • #243,213
  • Aug 4, 2010 11:34am Aug 4, 2010 11:34am
Quoting mfoste1
yo cloggie whats up?


are you watching gbp/chf? its gettin streched. i think i might take a position here @ wkly r2....there seems to be some resistance here and at the 76 fib

I rarely trade GC, just stick to UC and EC. I do watch it though as a correlated pair as I do with Dragon.
  • #243,214
  • Aug 4, 2010 11:35am Aug 4, 2010 11:35am
Quoting posterboy
how do cal pivots?do you have mt4 indicator..?if yes please attach it..mines is off all the time downloaded from ff top right? its being giving out wrong pivots

Keep looking for one that works with your broker, today's DP is 59231, based on London.
  • #243,215
  • Aug 4, 2010 11:36am Aug 4, 2010 11:36am
Quoting 4xStar
Why are you having such a problem posting a chart? Do you know how to save one? Or is it the actual posting that you can't do.
dont know b**@gr all about how to save.. have tried but any file i save to wont let me access it
All systems of divination, like music itself,work through patterns.
  • #243,216
  • Aug 4, 2010 11:37am Aug 4, 2010 11:37am
Quoting kaspopsicle
dont know b**@gr all about how to save.. have tried but any file i save to wont let me access it

Right click on your MT4 chart, select "save as picture" select "active chart" select "OK" safe it as a "GIF" in a directory you can remember and upload as attachment.

By the time you figure this out your analysis would have lost all meaning, we are still waiting in anticiapation.
  • #243,217
  • Aug 4, 2010 11:40am Aug 4, 2010 11:40am
Just as an additional aid to the question on when to go long, fibs are an invaluable way to help with more accurate entries.

Once you've fibbed the drop to what looks like the bottom, you can frequently count on a retrace up to the 61.8% - it even more frequently tends to reverse there, and you then watch for PA; time of day and the momentum of the fall and previous support areas are very relevant factors here too.

Works even better IMO for EURUSD; including that chart too. Given it is NY and Chicago lunch hours, we're likely to range here for a bit. Chance of more action after 2pm EST, but we may just hover around here given London is gone, and summer action afternoons are few and far between.
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  • #243,218
  • Aug 4, 2010 11:41am Aug 4, 2010 11:41am
Quoting cloggie
I work with some guys on the side and always tell them it takes 10,000 hours to get the hang of it. I am probably not far of.
Duh! Cloggie!! 10,000 hrs? c'mon.

seriously, when range trading for instance, how do you use the 15min chart to know when to enter on the 5min chart? will really appreciate some guide.

how can i get to be one of those you work with on the side?

thanks for all your help.
  • #243,219
  • Aug 4, 2010 11:42am Aug 4, 2010 11:42am
I am putting the old one back up. Nice little scenario to play out. I do like the M30 as guide for intraday plays. Lots of "if-then" plays to find here.
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  • #243,220
  • Aug 4, 2010 11:43am Aug 4, 2010 11:43am
Quoting kaspopsicle
Thanks Mun. always do go with momentum and only within london..still cant work out how to post a chart. ..shall work it out eventually.. thanks for your careing..and all goodies to you..
don't mention it...

range re-entery has a higher likelihood at this point....

on MT4, right-click, then save as picture, then <<OK>>...

you too...trade well!
Hear the music before the song is over ...
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