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Cable Update (GBPUSD)

  • #243,561
  • Aug 5, 2010 10:31am Aug 5, 2010 10:31am
Quoting TauTrader
Much ...

Regards
Hi tau, how's it going bro? Still selling?

Quoting special0nefx
Awesome Magix , wb . See you all nfp
okay bro, jumpa di sana!
Thank You
  • #243,562
  • Aug 5, 2010 10:31am Aug 5, 2010 10:31am
Quoting aarangio
Hi ya 4xStar,

Sorry if this is a stupid question but where you say "Another good day trading with the boxes"....is that just areas you've boxed of for short term S/R to visually see it easier or is there a system to it/behind it?

cheers,
Adrian

There is no system, no indicators, just follow price. Learn to read it and let it tell you where she goes. Once you get the hang of it you should be able to collect 100-200 pips a day on just Cable. 4X has been doing this for less then a week and she takes out a min of 75 a day.
  • #243,563
  • Aug 5, 2010 10:31am Aug 5, 2010 10:31am
FXlion been stopped out of this mornings long trade??
  • #243,564
  • Aug 5, 2010 10:32am Aug 5, 2010 10:32am
also cloggie please could you suggest me some site as to how to use indicators and moving average and how to you correlate with different time frames.
  • #243,565
  • Aug 5, 2010 10:33am Aug 5, 2010 10:33am
Quoting chitindu
also cloggie please could you suggest me some site as to how to use indicators and moving average and how to you correlate with different time frames.

Can't help you with indicators, don't use many never saw the point, as to MA's check out MAgix's thread as a start.
  • #243,566
  • Aug 5, 2010 10:36am Aug 5, 2010 10:36am
Quoting cloggie
There is no system, just follow price. Learn to read it and let it tell you where she goes. Once you get the hang of it you should be able to collect 100-200 pips a day on just Cable.
Hi ya Cloggie..

Thanks muchly for your help and explaination on this, much appreciated!

Adrian
  • #243,567
  • Aug 5, 2010 10:38am Aug 5, 2010 10:38am
thanx cloggie, how do analysis w and M mentioned in ur previous posts.
  • #243,568
  • Aug 5, 2010 10:38am Aug 5, 2010 10:38am
Quoting gmdsmc
sold 5825 5905stop, hoping for a couple hundred pips.
reason being is were well below resistance and the 4 hr candle will close below the 20 ema within the hour. plus double top on daily.
good enough! would of liked to get in higher but theres no tellin how far it will retrace before it crashes down and crash it will! so here I go! goooooooooooood luck.

almost but that didn't quite work out..
I will try shorting again on the close of the 4hr.
  • #243,569
  • Aug 5, 2010 10:39am Aug 5, 2010 10:39am
Quoting subterfuge
FXlion been stopped out of this mornings long trade??
He'll magically tell you he got out in profit & sold & got out in profit. According to him, he's never wrong.


Thank You
  • #243,570
  • Aug 5, 2010 10:39am Aug 5, 2010 10:39am
Quoting aarangio
Hi ya Cloggie..

Thanks muchly for your help and explaination on this, much appreciated!

Adrian

In a nutshell, find the trend on the London open, trade the break, find the next area of consolidation, if she breaks in your direction stay in, if she goes opposite close your trade and trade in the opposite direction, find consolidation, it it breaks in your direction stay in. Doing this you will catch 90% of the day's move in both directions, just keep seeing what price does at major levels and judge whether to stay in or get out. Drawing little boxes or a couple of lines give you guidance in getting the hang of reading PA, the rest is just chartgazing.
  • #243,571
  • Aug 5, 2010 10:39am Aug 5, 2010 10:39am
or else can u suggest on how to read price action
  • #243,572
  • Aug 5, 2010 10:40am Aug 5, 2010 10:40am
Quoting chitindu
thanx cloggie, how do analysis w and M mentioned in ur previous posts.

Open any chart as a line chart and look for them. IF a momentum bar failes and forms a M or W you know not to trade with the bar.
  • #243,573
  • Aug 5, 2010 10:40am Aug 5, 2010 10:40am
Quoting aarangio
Hi ya 4xStar,

Sorry if this is a stupid question but where you say "Another good day trading with the boxes"....is that just areas you've boxed of for short term S/R to visually see it easier or is there a system to it/behind it?

cheers,
Adrian

Click on paperclip icon at upper right of this thread, in pop-up click 'hide images' then you should see a .doc file called Converstion with Cloggie .. etc .. a long name. Download & read that for explanation of what Cloggie taught us last week. Then go over relevant posts since last Friday.
******************* I'd rather make money than be right.
  • #243,574
  • Aug 5, 2010 10:41am Aug 5, 2010 10:41am
Hi all just thought I'd share some trades and some PA reading just want to see what you think and if theres anything you agree or disagree with.
All entrys off the 5min chart all LHs in direction of bigger timeframes the 1st arrow down on the 5min was taken off the double top on the 5min. I wasn't sure about the hourly close but looking at the 30min and seeing its bearish close under support and the 15min inside bar took any doubts I had away.
the other two arrows down are both LH add ins the 2nd from right was a bear flag breakout and the one to the far right was a breakout pullback short.
entrys al one pip below signals.target for the 1st trade 860-850 targets for 2nd two trades the low of channel on the hour (yellow line)also the days low and WR1
1st trade was posted on different thread while I was still in the 1st trade.

any comments on the PA reading appreciated.

Thanks
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  • #243,575
  • Aug 5, 2010 10:42am Aug 5, 2010 10:42am
Quoting cloggie
In a nutshell, find the trend on the London open, trade the break, find the next area of consolidation, if she breaks in your direction stay in, if she goes opposite close your trade and trade in the opposite direction, find consolidation, it it breaks in your direction stay in. Doing this you will catch 90% of the day's move in both directions, just keep seeing what price does at major levels and judge whether to stay in or get out. Drawing little boxes or a couple of lines give you guidance in getting the hang of reading PA, the rest is just chartgazing....
Hi ya Cloggie,

thanks once again for explaining but just wondering would this type of trading have to be done on below a 15min TF would you say?

cheers
  • #243,576
  • Aug 5, 2010 10:42am Aug 5, 2010 10:42am
Quoting 4xStar
Click on paperclip icon at upper right of this thread, in pop-up click 'hide images' then you should see a .doc file called Converstion with Cloggie .. etc .. a long name. Download & read that for explanation of what Cloggie taught us last week. Then go over relevant posts since last Friday.

Right now your box should be 5823-5837 and you should have covered your short.
  • #243,577
  • Aug 5, 2010 10:42am Aug 5, 2010 10:42am
Quoting wormboy
I don't know quite sure how to reply this to you guys, without making it too obvious that we're stroking each others's egos

oh what the hell .. cheers guys!

Have a good one!
lol, dont worry about it wormie , collect the pips and carry on ha ha
  • #243,578
  • Aug 5, 2010 10:43am Aug 5, 2010 10:43am
NEWBIES: babypips.com has an excellent free course to learn forex basics. Read that course through & you will better understand much of what is said in here. However stay clear of their forum .. it sucks ... come back here for the good stuff.
******************* I'd rather make money than be right.
  • #243,579
  • Aug 5, 2010 10:43am Aug 5, 2010 10:43am
Quoting cloggie
Right now your box should be 5823-5837 and you should have covered your short.
It is & I did.
******************* I'd rather make money than be right.
  • #243,580
  • Aug 5, 2010 10:44am Aug 5, 2010 10:44am
Quoting aarangio
Hi ya Cloggie,

thanks once again for explaining but just wondering would this type of trading have to be done on below a 15min TF would you say?

cheers

Works on any TF, find the trend on the higher one and enter on the fast one. Price is Price is does not know what chart you use to look at it, it doesn't care how you view it, it does its own thing.
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