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Cable Update (GBPUSD)

  • #244,301
  • Aug 9, 2010 9:07am Aug 9, 2010 9:07am
Quoting TheSwede
Magix are you using the exponential MA? If so why and when are the other MA's useful.

Excuse for a newbe question. Haven't traded much using MA.
I use a few Moving Averages, primarily the 24SMA or 20EMA and the 200EMA as my directional and trend, as well as trigger lines.

The bottom of my chart uses 4 - 10, 20, 50, 200...as another visual representation, as well as my MACD is set to 20, 55, 5...

I go over a little bit about why and have a couple of templates with indicators on my thread. HERE.

For cable, I have 12 charts loaded with varying time frames and indicators with moving averages being my primary way of watching price action.

A small sample of my fast charts below.
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #244,302
  • Aug 9, 2010 10:37am Aug 9, 2010 10:37am
Nearly time for Pims
  • #244,303
  • Aug 9, 2010 11:16am Aug 9, 2010 11:16am
We wonder why America is going broke. Here is 100 ways American Government wastes our money.
http://coburn.senate.gov/public//ind...b-f5b9f21b3572
  • #244,304
  • Aug 9, 2010 11:21am Aug 9, 2010 11:21am
supply hitting market at fridays poc 1.5960

seems price may be pushed down into 5900 to 5860 before fomc

Attached Image (click to enlarge)
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  • #244,305
  • Aug 9, 2010 11:26am Aug 9, 2010 11:26am
Quoting malcolmb14
supply hitting market at fridays poc 1.5960

seems price may be pushed down into 5900 to 5860 before fomc

15910 might hold here. Calling a bottom? Not smart but there is a valid reason why it might stop here. And no, I don't want to say what it is.

Maybe it will hold after all...

An hourly close below 15910 and 15860 is wide open.
  • #244,306
  • Aug 9, 2010 11:31am Aug 9, 2010 11:31am
Quoting Pickensrulz
15910 might hold here. Calling a bottom? Not smart but there is a valid reason why it might stop here. And no, I don't want to say what it is.
my thoughts .. even if fomc is negative for usd they will push it down into demand zone , that last week was 5850 ish.

5900 is 1st stop as this is whole number

I took a long gu this morning for 20 , other than that been playing es in the 1119 to 1124 range , 5 points x 2 times so far . I am more in favour iof buying dips gu then selling retracements until the daily trend changes

mentioned this before massive overhead supply has to be absorbed by buyers if they want higher prices. In order to do this buyers will allow price to drop 100 to 200 pip then step back in accumualting positions. When i see high volume coming in at areas or prior support that is my buy zone ...right now will not do much in fx before fomc tomorrow as mondays are crap at the best of times.
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  • #244,307
  • Aug 9, 2010 11:48am Aug 9, 2010 11:48am
Cloggie has drawn attention to this r/s switch area, since the 2nd Aug.
  • #244,308
  • Aug 9, 2010 11:50am Aug 9, 2010 11:50am
Quoting mdiz2
We wonder why America is going broke. Here is 100 ways American Government wastes our money.
http://coburn.senate.gov/public//ind...b-f5b9f21b3572
emmmmmmm
  • #244,309
  • Aug 9, 2010 11:51am Aug 9, 2010 11:51am
Cloggie, 4xstar -

I love these river boxes! maybe now I can finally learn to trade... leaving those idicators behind. Thanks very much
  • #244,310
  • Aug 9, 2010 11:53am Aug 9, 2010 11:53am
if daily close is at 1.5917 or below then where going back up to 1.6000 area if it close above 1.5917 then where heading down to 1.5580 area, if it breaks daily high before daily close then where back in a strong uptrend. either way there's money to be made
  • #244,311
  • Aug 9, 2010 11:55am Aug 9, 2010 11:55am
Quoting ChowClown
Cloggie has drawn attention to this r/s switch area, since the 2nd Aug.

Absolutely, the same 3 levels and the same 2 TL's have been in play for over a week.
  • #244,312
  • Aug 9, 2010 11:57am Aug 9, 2010 11:57am
This is how I interpret the chart:

The pair is trying level 1.59ers and got rejected.. The level is being marked by my Kijun sen (the blue line) in 4H TF... Expect more downside if the pair manage to breach this level. See attachment 1

On a shorter term, the pair is already trying to push up into the kumo cloud, that is a bull cloud... See attachment 2

Indecisive market? Always. Taking side? A must.. Trade now? It's an option..
Attached Images
  • #244,313
  • Aug 9, 2010 11:57am Aug 9, 2010 11:57am
Quoting gotpips92
Cloggie, 4xstar -

I love these river boxes! maybe now I can finally learn to trade... leaving those idicators behind. Thanks very much
They are way cool .. just remember they are only a visual aid while learning to see price movement & recognize periods of consolidation vs breakouts.
Another big component is a 30 min chart where you draw trendlines and s/r lines. This is where Cloggie put the line at 5904 that he has been telling us about for over a week .. it was respected again today.

Make a price only chart, toggle between 30 & 60 minutes and draw your trendlines and s/r lines. Cloggie says do not remove a line until price has completely invalidated it. This will give you the bigger picture & you move to the 5 min & draw your boxes for more precise entries.

Once your eyes are trained, you won't need to draw the boxes. I expect it will take several months to train my eyes. Plus the boxes are fun to draw....
******************* I'd rather make money than be right.
  • #244,314
  • Aug 9, 2010 12:00pm Aug 9, 2010 12:00pm
Quoting 4xStar
They are way cool .. just remember they are only a visual aid while learning to see price movement & recognize periods of consolidation vs breakouts.
Another big component is a 30 min chart where you draw trendlines and s/r lines. This is where Cloggie put the line at 5904 that he has been telling us about for over a week .. it was respected again today.

Make a price only chart, toggle between 30 & 60 minutes and draw your trendlines and s/r lines. Cloggie says do not remove a line until price has completely invalidated it. This will give you...
alright will do. Thanks for all the help!
  • #244,315
  • Aug 9, 2010 12:09pm Aug 9, 2010 12:09pm
Here's the leftover from some change I got from the last trade:

In the shorter term, the pair is seen traded inside the bull cloud already... Closed the last trade anticipating whipsaw coming over like it was when some news are ready to kick in

Anyway, the pressure is still to the downside, but I think that maybe retracement is on due and I got to admit that I lost the momentum to enter the trade as of writing. Will wait and see for now...

Quoting HowieTrader
I got (closed my Long) about 20pips already watching you guys fighting over trivial matter... When you are right, you are right, when you are not, you are not; it's that easy...

Learn, and keep learning, debate with proof and try to find a way out...
Attached Image
  • #244,316
  • Aug 9, 2010 12:12pm Aug 9, 2010 12:12pm
Quoting HowieTrader
watching you guys fighting over trivial matter...
Me too...
  • #244,317
  • Aug 9, 2010 12:20pm Aug 9, 2010 12:20pm
Quoting HowieTrader
Here's the leftover from some change I got from the last trade:

In the shorter term, the pair is seen traded inside the bull cloud already... Closed the last trade anticipating whipsaw coming over like it was when some news are ready to kick in

Anyway, the pressure is still to the downside, but I think that maybe retracement is on due and I got to admit that I lost the momentum to enter the trade as of writing. Will wait and see for now...
Howie, I guess you confused & stopped out cuz of your messy charts with 1000's indicators on it not watching them fighting

seriously though, can you see price movements?! my charts are naked compare to yours, I hardly use 2-3.

cheers
  • #244,318
  • Aug 9, 2010 12:23pm Aug 9, 2010 12:23pm
Quoting Elite_trader
Howie, I guess you confused & stopped out cuz of your messy charts with 1000's indicators on it not watching them fighting

seriously though, can you see price movements?! my charts are naked compare to yours, I hardly use 2-3.

cheers
That's Ichimoku system.

I understand you points as I trade almost naked, but this is well know system for years (japanese).

Take care!
"Flip that coin!"
  • #244,319
  • Aug 9, 2010 12:23pm Aug 9, 2010 12:23pm
Quoting 4xStar
They are way cool .. just remember they are only a visual aid while learning to see price movement & recognize periods of consolidation vs breakouts.
Another big component is a 30 min chart where you draw trendlines and s/r lines....
hi everyone, I hope you got a nice day today
I saw your post and in interested in learning that stuff about the boxes
could you tell me where to learn this ??
sounds great
  • #244,320
  • Aug 9, 2010 12:33pm Aug 9, 2010 12:33pm
any one heard a rumour they are rasing rates tomorrow ? lol

now that should get some nice comments....

Thinking we see mark down into 5850 to 5800 before nfp tomorrow.
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