Cable Update (GBPUSD) | Page 12185 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #243,681
  • Aug 5, 2010 2:00pm Aug 5, 2010 2:00pm
Quoting cloggie
This is good, you will learn more from mistakes then you ever will from copying someone else. Having a box in mind, in effect focuses you on 2 levels that become important in your trade, one that confirms that you are on the right track and one that tells you to chuck it and look for something else. And it was a nice example of a fake 'n shake..... (fake a break, shake the tree to collect some retail money and move on; a nice little sucker break. And guess what, you got suckered.)

As an aside, if you draw that box slightly slanted you actually...
Closed for 13 pip loss. I also noticed when I looked at the m15 it was sitting right on the 200ema.
Attached Image (click to enlarge)
Click to Enlarge Name: 222gif.gif Size: 15 KB
  • #243,682
  • Aug 5, 2010 2:03pm Aug 5, 2010 2:03pm
Quoting mdiz2
Closed for 13 pip loss. I also noticed when I looked at the m15 it was sitting right on the 200ema.

Here you go, you are starting to build a strategy. And taking a 13 pip loss is nothing compared to what some guys here carry, just the cost of doing business. Now stay away from GC, until you have had a close look at it first how it reacts. Learn to crawl first before you start walking.
  • #243,683
  • Aug 5, 2010 2:04pm Aug 5, 2010 2:04pm
Quoting cloggie
Here you go, you are starting to build a strategy. And taking a 13 pip loss is nothing compared to what some guys here carry, just the cost of doing business. Now stay away from GC, until you have had a close look at it first how it reacts. Learn to crawl first before you start walking.
Here is the right chart.
Attached Image (click to enlarge)
Click to Enlarge Name: 444gif.gif Size: 17 KB
  • #243,684
  • Aug 5, 2010 2:07pm Aug 5, 2010 2:07pm
Quoting cloggie
Here you go, you are starting to build a strategy. And taking a 13 pip loss is nothing compared to what some guys here carry, just the cost of doing business. Now stay away from GC, until you have had a close look at it first how it reacts. Learn to crawl first before you start walking.
You don't recomend trading GC in the beginning, your not the first person to tell me that. how about GU, GJ, EU and GJ. I have been watching them sinse I started 10 months ago.
  • #243,685
  • Aug 5, 2010 2:13pm Aug 5, 2010 2:13pm
Quoting cloggie
Doc, here is your starfish again, did you ever figure out what it confirmed?
It confirms taking the first exit out of any flag pattern. Then count money.
  • #243,686
  • Edited 3:40pm Aug 5, 2010 2:55pm | Edited 3:40pm
Quoting fourxtrader
GM,

That is without a shadow of a doubt or the slightest
of exaggeration, or embellishment the finest tribute
I have seen given to a member of these forums.

Dr. D.
yup i agree..best words i heard..way to go G and cloggie ofcourse
  • #243,687
  • Aug 5, 2010 3:37pm Aug 5, 2010 3:37pm
the daily has formed a doji and the H4 is still in an uptrend channel, is the trend still bullish?
  • #243,688
  • Aug 5, 2010 3:43pm Aug 5, 2010 3:43pm
Quoting monkey@forex
the daily has formed a doji and the H4 is still in an uptrend channel, is the trend still bullish?
Bulish because none of main trendlines weren't broken.
  • #243,689
  • Aug 5, 2010 3:59pm Aug 5, 2010 3:59pm
Quoting cloggie
Doc, here is your starfish again, did you ever figure out what it confirmed?

I certainly did... if you followed each of the tl's to their extreme
they would fold back upon themselves in perfect order leading
to and from the mouth's entrance and exit to wormie's wormhole.

Dr. D.
  • #243,690
  • Aug 5, 2010 3:59pm Aug 5, 2010 3:59pm
Quoting cloggie
Did that MA compression happen the same time as the price compression? These MAC's could actually warrant a bit of work to find secondary confirmation in price itself. Did you guys ever start a thread on this to get some research done?
First, this question to you.... what is price compression?
Then we'll figure out an answer to your earlier question and a better
understanding of this phenomenon...

We recognize that price preceeds and dictates MAs as it does with
all of the non-essential indys. However, I would propose that MACs
are the crown jewel and perfect representation of priceless action
and price stagnation and at this one moment like perhaps no other,
price then becomes subject to a chart pattern such as MACs...
relative to each tf.

The pattern of full MA compression, is a state of supposed harmony
and agreement on price between buyers and sellers but is as unnatural
and unstable as the bubble formed with the separation of the MAs to
their greediest extremes propelled there by the explosion and energy
release following full compression.

Since nature abhores a vacuum or rather a gradient... the MAs can
not continually remain in an extended bubble-like state where buyers
and sellers have lost touch with reality and must, like the trend inevitably
tire, rest, consolidate or even collapse eventually drawing again
together by reforming into another MAC pattern... in this attraction
as they converge, pressure is created and energy builds in anticipation
of buyers coming again into agreement with sellers for the next movement...
and the cycle continues and never ends as longs as greed and hunger exist
in the markets.

Dr. D.
  • #243,691
  • Edited 4:47pm Aug 5, 2010 4:31pm | Edited 4:47pm
Quoting fourxtrader
First, this question to you.... what is price compression?
Then we'll figure out an answer to your earlier question and a better
understanding of this phenomenon...

We recognize that price preceeds and dictates MAs as it does with
all of the non-essential indys. However, I would propose that [i][color=#0000ff]MACs...

Price compression is something we used in the callable Bond market (it is the level where price would no longer appreciate), in FX it is where price can no longer move up or down and where a further direction is unclear. So from a candle point of view for example it is when a doji follows a doji, or when price narrows within a narrowing range with limited signals for direction, or where whicks not favour demand over supply. Finding areas of compression is pretty straight forward and I have always wondered if something like MAC could give an indication of what Wormy calls the Kaboom phase. Gettting a heads up on which way a breakout could or should occur is just another tool we could use. Looking at that chart you posted yesterday, it seemed that the MAC was favouring a break to the downside prior to price actually giving an indication. Getting a headsup on the MAC compression point would favour a larger then normal sized lot on the initial break as a fake rarely occurs and a MAC break is always followed by a good momentum bar. Finding 1-2 MAC breaks a week on Cable could make some serious money. MAC breaks seem to be good for 40-80 pips at a time on an M5 and even more on higher TF's.

Taking this one step further, could MAC be used for trend reversals? Could it be used for news trading when they coincide with a compression? There could be lots of scenarios where the MAC could be one further tool in the toolbox.
  • #243,692
  • Aug 5, 2010 4:36pm Aug 5, 2010 4:36pm
Cloggie are you still here?

huge respect, you spend a vast amount of not only in front of your PC but also a huge percentage of it handing out excellent knowledge and advice.
  • #243,693
  • Aug 5, 2010 4:40pm Aug 5, 2010 4:40pm
morning guys
Thank You
  • #243,694
  • Aug 5, 2010 4:40pm Aug 5, 2010 4:40pm
Quoting Dayboy001
Cloggie are you still here?

huge respect, you spend a vast amount of not only in front of your PC but also a huge percentage of it handing out excellent knowledge and advice.

Planning my day for tomorrow, trying to judge how the day is going to end in and hour and a half, both me and Wormy want to see a 3 outside down. And just catching up on some other things.
  • #243,695
  • Aug 5, 2010 4:46pm Aug 5, 2010 4:46pm
Quoting cloggie
Planning my day for tomorrow, trying to judge how the day is going to end in and hour and a half, both me and Wormy want to see a 3 outside down. And just catching up on some other things.


if that formation completes ... pow! right in the kisser


Inserted Video
Thank You
  • #243,696
  • Aug 5, 2010 4:49pm Aug 5, 2010 4:49pm
Quoting wormboy


if that formation completes ... pow! right in the kisser


http://www.youtube.com/watch?v=RLHc-aqPZUs

There are a handful of patterns on the daily that are worth waiting for and in my book, this is one.
  • #243,697
  • Aug 5, 2010 5:06pm Aug 5, 2010 5:06pm
Quoting cloggie
There are a handful of patterns on the daily that are worth waiting for and in my book, this is one.
yup. here's one reason why I'm not buying unless the D1 clears 5970 cleanly. Some people are really bold positioning from this high up & pulling 6100 & 6200 targets out of the hat without confirmation. Could work, but taking massive risk if you ask me.
Attached Image (click to enlarge)
Click to Enlarge Name: gu.png Size: 34 KB
Thank You
  • #243,698
  • Aug 5, 2010 5:10pm Aug 5, 2010 5:10pm
Quoting wormboy
yup. here's one reason why I'm not buying unless the D1 clears 5970 cleanly. Some people are really bold positioning from this high up & pulling 6100 & 6200 targets out of the hat without confirmation. Could work, but taking massive risk if you ask me.

Looks like it is going to end up a doji following the Bearish Engulfing from yesterday. Ah well NFP should give us some action especially if the trend set today continues, ADP was postitive yesterday, Claim count was down today, let's see if NFP is going to dissapoint tomorrow.
  • #243,699
  • Aug 5, 2010 5:15pm Aug 5, 2010 5:15pm
Quoting cloggie
Looks like it is going to end up a doji following the Bearish Engulfing from yesterday. Ah well NFP should give us some action especially if the trend set today continues, ADP was postitive yesterday, Claim count was down today, let's see if NFP is going to dissapoint tomorrow.
I still have an hour 45 minutes till my D1 close. If it stays this way & close a doji I will clear my positions & remain flat tomorrow. If it close bearish I'll leave it open.
I'll be back for the day close. Gonna get some breakfast. Later cloggs
Thank You
  • #243,700
  • Aug 5, 2010 5:35pm Aug 5, 2010 5:35pm
4hr line chart shows two big resistances taken out, trend continuation long until trendline break and price falls below 1.58.

what you guys thinking?
Attached Image (click to enlarge)
Click to Enlarge Name: cable.jpg Size: 119 KB
215 traders viewing now, 7 are registered:
KingProdey
,
,
CPUmice
,
,
QadeerAkhtar
,
,
Gbpusdfreakk