Cable Update (GBPUSD) | Page 12205 | 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)

  • #244,081
  • Aug 6, 2010 5:07pm Aug 6, 2010 5:07pm
Quoting mdiz2
I guess we have something in common I started 10 months ago also. I have traded real money since the second week. I've lost about $5100 but don't mind. I would have blown more than that in the bar or something if I wasn't on the computer learning forex. I spend 12 to 14 hours a day and am seeing some light at the end of the tunnel.
Hi Mdiz,sorry for delay in replying, had to go work for an hour or so. I certainly would have blown what i've invested somewhere or other if i hadnt been shown the path into trading FX. , i spend an average of 65 to 75 hours per week trading and researching. I believe its the right way of life for me,a healthy attitude...as long as you get out in the fresh air now and then.
You've done my heart good with your post ( have had v. bad time in personal life this week) more strength and success to you. Have a wonderful weekend.
All systems of divination, like music itself,work through patterns.
  • #244,082
  • Aug 6, 2010 5:12pm Aug 6, 2010 5:12pm
Quoting kaspopsicle
...You've done my heart good with your post ( have had v. bad time in personal life this week) ...
Sorry to hear about that, hope things will be better soon ...
If you want some cheering up & learn a cool technique to start the day in a positive way ... check out this:

http://www.facebook.com/?ref=home#!/...v=393561765678
******************* I'd rather make money than be right.
  • #244,083
  • Aug 6, 2010 5:26pm Aug 6, 2010 5:26pm
Quoting 4xStar
Sorry to hear about that, hope things will be better soon ...
If you want some cheering up & learn a cool technique to start the day in a positive way ... check out this:

http://www.facebook.com/?ref=home#!/video/video.php?v=393561765678
Absolutely Gorgeous..definately my mantra from now on. God bless Star..
All systems of divination, like music itself,work through patterns.
  • #244,084
  • Aug 6, 2010 9:48pm Aug 6, 2010 9:48pm
Quoting GlobalMacro
sharp movement not able to seperate the MAs so the implication for the price would be to revisit the center of the compression once more?
I wish that were what I was implying... it would make me a genius
matching your skills, seeing what came on the next move up: a
double MA compression offering sizable pips in both directions.

I was fully expecting the move to go lower and pull the EMAs apart
and more often it will since it followed the news release but I failed
to consider the NFP 3+ hrs out might have tempered the move. LDN
is way out of my element so I closed the platform after it bottomed
as it started to reverse to get some sleep. (30+ pips on a 50 pip move
is a good trade) (Pacific time zone here and slept thru the NFP). lol

The correct implication would be.... sharp movement off of a MA
compression plus news generally will also have sufficient movement
relative to the tf in order to separate the MAs. The move did not
achieve an adequate distance accompanied over a length of time to
produce separation and soon thereafter stalled and then reversed
over the next 3 hours leading up to NFP. Another compression pattern
immediately formed added by the weight and timing of an NFP release
that propelled the price over twice the distance upward. That was
more like the typical MAC.

MA compressions often contain enough inherent energy with or without
the influence of a news event or other external stimulus to not only
break out of the previous range but lead to extended moves (relative
to the tf) which pull the EMAs out and away from the tight pattern.
The challenge is to determine if the first move is a false move which
doesn't disturb the compression pattern or dissipate the energy but
assists the final move in some kind of harmonic fashion. I've seen other
chart patterns lacking the compression formation where the price might
oscillate into a range for prolonged periods until the MAC formed on a
particular tf to provide the impetus for a breakout.

Just my views,

Dr. D.
Attached Image
  • #244,085
  • Aug 6, 2010 11:40pm Aug 6, 2010 11:40pm
Quoting posterboy
do you think its best to ever leave a profitable trade open for weekend with stops place under the barrier@5945 .................some time ACM my broker spread goes 6 to 8 points at closing of newyork,,,,,

For the sorts of stops and time frames you seem to be talking about I would say no. Personally I have positions I have had opened for a few weeks now. But a spread change or jump at the beginning of the week is of no concern to me as I am hundreds of pips from my SL.
  • #244,086
  • Aug 6, 2010 11:45pm Aug 6, 2010 11:45pm
Quoting 4xStar
Anyone know if there is a way to view a MT4 chart by bar count?
Tools->Options-> Charts tab

then in "Max bars in chart" put in the number (60), then restart the platform.

Unfortunately, it applies to all the open charts, but you can always change it back.
  • #244,087
  • Edited 4:19am Aug 7, 2010 3:56am | Edited 4:19am
Hey Dr D. Great chart and analysis. I was looking forward to this. Expecting a negative report on the NFP/ Not sure why so many are always short the cable. The Pair has been rising for over 4 weeks now and consistently since the present weekly low in the .4000s
-She did print some poor reports last night, but I don't hear much discussion about news either.

In any case,
We broke some major resistance without too much of a hitch at 5800 now .6000 is broken. Not sure I am jumping on the correction bandwagon.

Sure we can move 300 pips down, yet these days, 160 - 200 is sometimes a days work for cable.

I am open to the possibility of consolidation either around current levels or
after a slight correction. As long as the USD continues diving, we should be on course. Perhaps to 6500 next.

If the consolidation pans out, we may have a great compression chart!
Enjoy the weekend Dr D and all!
X

PS
Here is my quick weekly. Some Higher targets are 6300 - 6500 and ultimately 6800 - On correction I will look for 5750 & or 5500, then,
assess the next position. Breach and hold below may re-open short opportunities, yet bounce will be great for longs to test the
aformentioned.

Let's see how it goes!

Quoting fourxtrader
[color=blue]I wish that were what I was implying... it would make me a genius
matching your skills, seeing what came on the next move up: a
double MA compression offering sizable pips in both directions.

I was fully expecting the move to go lower and pull the EMAs apart
and more often it will since it followed the news release but I failed
[i]to consider the NFP 3+...
Attached Image (click to enlarge)
Click to Enlarge Name: Picture 4.png Size: 68 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #244,088
  • Aug 7, 2010 4:33am Aug 7, 2010 4:33am
Quoting nAVIN2007
Target reached and i exited 1.60..reached!!!!

Congrats bro...excellent job there...finally out of the epic long position...

so...when are you gonna buy us a drink?
Hear the music before the song is over ...
  • #244,089
  • Aug 7, 2010 4:55am Aug 7, 2010 4:55am
Quoting fourxtrader
[color=blue]I wish that were what I was implying... it would make me a genius
matching your skills, seeing what came on the next move up: a
double MA compression offering sizable pips in both directions.

I was fully expecting the move to go lower and pull the EMAs apart
and more often it will since it followed the news release but I failed
[i]to consider the NFP 3+ hrs out...
It's a fascinating phenomenon...

My hypothesis would be MACs work best if put in some perspective of "relativity" to some benchmark.

Assuming the state of compression is the center of maximum energy, the sharp move in LDN should have released and decompressed that energy and since it didn't perform as expected (thus the null hypothesis rejected!) I theorized implication of MACs' indifference would be only one way : up (also taking into account the overall trend conditions we were in at the time)

Have a great weekend, Doc.
Hear the music before the song is over ...
  • #244,090
  • Aug 7, 2010 7:03am Aug 7, 2010 7:03am
I don't know what the professionals here think, but our Lady failed to convincingly move away from 5960 area after worse than expected NFP. I don't look to long until 1.6000 is broken convincingly. I set my eyes on 1.5850 once more.
I'm newbie here but have a look again.

PreCap2
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #244,091
  • Aug 7, 2010 7:50am Aug 7, 2010 7:50am
Quoting cloggie
The H1 and M30 are the triggers for me, M15/5 are the entries.
dear Cloggie, when you say 1hr and 30min are ur triggers and 15/5min your entry...please explain to me simply so i understand. always appreciative of your guide and coaching of us noobs. thnks
  • #244,092
  • Aug 7, 2010 8:43am Aug 7, 2010 8:43am
Quoting GlobalMacro
Congrats bro...excellent job there...finally out of the epic long position...

so...when are you gonna buy us a drink?
thanks bud..take yur pick
Attached Image
  • #244,093
  • Aug 7, 2010 9:20am Aug 7, 2010 9:20am
Quoting mdiz2
If you are so frickin lazy you can't even spend a minute looking for a file how are you going to learn to trade.

Go here http://babypips.com and get the basics and I have included the link to the file 4xstar has told you to get multiple times.

Study this material and practise a bunch. If you have problems using your trading platform to make boxes use the help section of your software and it will tell you how.
thanks for the guide.
as for the "fricking lazy" part, i take it humbly as part of the dues i have to pay for being a student but i will be a pro too someday perhaps tx to guidance from the likes of you. keep the info flowing and call me any name you want. i dont mind at all...lol!
  • #244,094
  • Aug 7, 2010 9:36am Aug 7, 2010 9:36am
Quoting 4xStar
Lechidi .. with only 4 posts here it is understandable you have a ton of questions. Many will be answered by reading Cloggies posts since last Friday (July 30). If you click on the paperclip icon at top right, then click HIde Images from the popup box, you will see the document I uploaded "Conversation with Cloggie" something like that .. download it & there will be that Friday conversation plus some of my notes.

The rest is just wait & watch ... pro traders like Cloggie, Wormboy, EGKid, Kill & many others will comment & post charts. It will...
oh madam! thanks. i am just seeing this. i have actually copied the document and i will do my best not to ask too many questions. i have been trading since january and have actually grown my demo account 200% just trading off pivots, almost blew my 5k account but managed to save it at 1k and am gradually building it back (very very slowly) using the same pivots trading but i just feel good to be reading from people who seem to understand price action very well and wanna learn and learn! i hate indys bcos they mostly lag and kinda decieve. i am studying your conversation already and loving it. hopefully after next week i will have something positive to tell you.
may your patience with the less experienced be rewarded...amen!
cheers
  • #244,095
  • Aug 7, 2010 10:09am Aug 7, 2010 10:09am
Quoting lechidi
dear Cloggie, when you say 1hr and 30min are ur triggers and 15/5min your entry...please explain to me simply so i understand. always appreciative of your guide and coaching of us noobs. thnks

It means exactly that, the M30/H1 tell me the direction/reversals and I use the M5/15 to join the flow.
  • #244,096
  • Edited 10:30am Aug 7, 2010 10:15am | Edited 10:30am
Quoting GlobalMacro
It's a fascinating phenomenon...

My hypothesis would be MACs work best if put in some perspective of "relativity" to some benchmark.

Assuming the state of compression is the center of maximum energy, the sharp move in LDN should have released and decompressed that energy and since it didn't perform as expected (thus the null hypothesis rejected!) I theorized implication of MACs' indifference would be only one way : up (also taking into account the overall trend conditions we were in at the time)

Have a great weekend, Doc.

I am wondering and researching exactly the same, is there a consistant trigger that we could deduce from MAC's. I am playing around a bit with them too and am keeping a MAC setup on a side screen for next week to see how and when these triggers occur. It interests me so much because it is price driven, it is a sudden deviation from the average, like you said how does the nul hypothesis fit in to the deviation. Price as we know does move from a consolidation on every TF with often some good momentum bars, I like momentum bars because it justifies no retest of a range and the secondary bar or PA often shows continuation of an intermediate trend. MAC's could be another identifier of solid breakouts. It could justify a larger lot size if a range breakout is accompanied by a MAC break out. Need to figure if they have the larger effect on trend or countertrend direction, I need to figure what EMA's work best on Cable, I need to figure what EMA's work best at what trading time and I need to figure the correlation of MTF on MAC and I need to figure the correlation of MAC to PA.

fourx, maybe we should start a research thread on this (min "5v" participants only). It could be interesting to say the least. I rarely get excited over something, but this has attracted my attention. Anytime we can identify a pricerelated compression and an energy point based on current PA breakout and the break from the average it is worth looking at. More so then stationary MA' such as the 150/200. The possibility of identifying the Kaboom points, the energy and price compression points that could potentially lead to consistant 100 pip moves is what interests me in this. I can also see this somehow working on failed retraces on different TF, indicating a return to previous SR's, I use price now to identify and trade them, but a MAC could be a secondary tool to justify and signal higher TF trend continuations vs retrace continuations. Another trigger point seems to be the news price compression where the PA gets positioned prior to news releases with the customary breakout as happened last Friday (compare that to the non existance of any trigger during the ADP release and you can see what I am alluding to and why this is of interest to me.)

Interesting to say the least.
  • #244,097
  • Aug 7, 2010 10:26am Aug 7, 2010 10:26am
Cloggie,

I liked that July 30 lesson, but do you have anything for mt4 that marks what the pivots are? Also I would assume it is first necessary to set time on my mt4 to London times?
  • #244,098
  • Aug 7, 2010 10:28am Aug 7, 2010 10:28am
Quoting gotpips92
Cloggie,

I liked that July 30 lesson, but do you have anything for mt4 that marks what the pivots are? Also I would assume it is first necessary to set time on my mt4 to London times?

There are plenty of pivot indy's out there, google them and find one you like.
  • #244,099
  • Aug 7, 2010 11:24am Aug 7, 2010 11:24am
Cloggie
Been following and studying this thread for the last couple of weeks. In my 12 months of trying to trade FX for real, had always thought that basing trades on indie’s etc as advocated elsewhere had its short comings. But till now, hadn’t come across anyone who could comprehensively demonstrate how to trade successfully on the basis of reading price alone; and particularly in a live market. Your leadership and contribution to this thread in this respect has been awesome; and I am grateful for the knowledge that you disseminate. Please keep explaining and posting …even though there is already a lot to study and practice. And I look forward to a time when I can contribute more positively to the daily dialogue.
  • #244,100
  • Aug 7, 2010 12:06pm Aug 7, 2010 12:06pm
Quoting cloggie
I am wondering and researching exactly the same, is there a consistant trigger that we could deduce from MAC's. I am playing around a bit with them too and am keeping a MAC setup on a side screen for next week to see how and when these triggers occur. It interests me so much because it is price driven, it is a sudden deviation from the average, like you said how does the nul hypothesis fit in to the deviation. Price as we know does move from a consolidation on every TF with often some good momentum bars, I like momentum bars because it justifies...
I'd be in on a research thread for this if Doc is cool with it too...

we need to figure out as well what is the optimal point of action: compression or expansion?

Also most importantly:

since the component MAs are inherently lagging creatures we need to find evidence that the results this phenomenon is delivering aren't deceptive (i.e. having predictive value and not just trailing the price action) and nonambiguent when applied purely on their own


Have a great and relaxing weekend, Cloggie.
Hear the music before the song is over ...
489 traders viewing now, 4 are registered:
Shijirbaatar
,
bolivarfx
,
makeme
,
ndtrunghieu