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Cable Update (GBPUSD)

  • #246,721
  • Aug 18, 2010 10:27am Aug 18, 2010 10:27am
Excuse me for this silly question.
  • #246,722
  • Aug 18, 2010 10:27am Aug 18, 2010 10:27am
Quoting Scipionz
A momentum bar is twice the previous one, and 50% of it will act as S/R.


Hope this help!
now where have I seen this before .....
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Thank You
  • #246,723
  • Aug 18, 2010 10:27am Aug 18, 2010 10:27am
Here is better explanation

Quoting ohan
will it be lower high than on either sides for pivot bar long? i'm confused
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  • #246,724
  • Aug 18, 2010 10:29am Aug 18, 2010 10:29am
Here is todays

Quoting Nene
Here is better explanation
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  • #246,725
  • Aug 18, 2010 10:30am Aug 18, 2010 10:30am
Quoting wormboy
now where have I seen this before .....

It is still surprising though how traders ignore candle patterns at their own peril.
  • #246,726
  • Aug 18, 2010 10:33am Aug 18, 2010 10:33am
dj explains why this week has been sideways

both eu and dj are in wave 2 retracements .... eu 1.3 is key dj 10500

may take another week or so .. but here we have it

Been enjoying the range this week ... selling off 1.5650 buying off 1.5550 , ignoring the outer whipsaws .

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  • #246,727
  • Aug 18, 2010 10:35am Aug 18, 2010 10:35am
Quoting cloggie
It is still surprising though how traders ignore candle patterns at their own peril.
maybe because candles alone are too naked.
they'd want em to be dressed up like this
Thank You
  • #246,728
  • Aug 18, 2010 10:36am Aug 18, 2010 10:36am
Quoting pawpaw1000
aah thanks soo much brother! thats great! do you include the wicks, I guess not seeing as it is a momentum bar we should not be having too much wick anyways

Thanks again!
Better focus on body honnestly, since wick show "unaccepted" territory.
Body is the "real" range.

Take care!

Quoting wormboy
now where have I seen this before .....
Muahahahahh!

Fast learner! LOL
"Flip that coin!"
  • #246,729
  • Aug 18, 2010 10:38am Aug 18, 2010 10:38am
Quoting wormboy
now where have I seen this before .....
Would you lik to explain what you think when you this formation and the next candles arent giving any effect right away?

Like now.. I feel that that formation is very bearish, but it dosent seem to go to far down? Or Have I missunderstoo something.
Thanks or helping me learn
  • #246,730
  • Aug 18, 2010 10:38am Aug 18, 2010 10:38am
Quoting TheSwede
Excuse me for this silly question.
support and resistance
Revesal Trader
  • #246,731
  • Aug 18, 2010 10:40am Aug 18, 2010 10:40am
reckon we going down to 5510 - 5525 area...
@pawpaw1000 on Twitter
  • #246,732
  • Aug 18, 2010 10:40am Aug 18, 2010 10:40am
Quoting 4xStar
Today was not the best example, but here is a 5 min chart .. the 'boxes' are nothing more than identifying areas of consolidation so it is easier to see when price breaks out one way or the other. Spikes out of the box don't count, the candle should close above or below the chart & show some sign of momentum building (length or shape of candle). Put up a 5 min price only chart and just scroll back and outline the consolidation areas, then zoom in to see candle activity within those areas .. a little practice and you will start to see it. Then later...
thanks and thanks and thanks again. i will practice like mad. howz it been playing out with you since you started trading that style?

one more thing if you can bear with me. sometimes i think its difficult to judge overall trend. daily tells you different from H4 and 4hr tell different from 30 mins and so on....how can i tell?
  • #246,733
  • Aug 18, 2010 10:40am Aug 18, 2010 10:40am
Quoting Scipionz
Better focus on body honnestly, since wick show "unaccepted" territory.
Body is the "real" range.

Take care!



Muahahahahh!

Fast learner! LOL
for me closes relative to last are the most critical .. i love these bars that show only closes. Pretty cool

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  • #246,734
  • Aug 18, 2010 10:42am Aug 18, 2010 10:42am
Quoting pawpaw1000
reckon we going down to 5510 - 5525 area...

some buy interest just under us at support 1.5580

look for any low vol up bars in this 5600 area , nice place for a re entry on the sell.

Gu completed days range shortly into London , after that formed daily wick now seems pretty uninterested.
Blogging daily now at www.volume.zone
  • #246,735
  • Aug 18, 2010 10:42am Aug 18, 2010 10:42am
Quoting ams
Peeps, I reckon this area is designed ot loose money..have a look at the attached chart.. We went below the trendline (mark it, it's a major one running from 143) and now we have come backup. I reckon we will go down again...not a convincing trend either side...both long and short can make calls as this is a congestion zone , might or might not work...



ta
ams
Spot on DIX also seems to be in a congestion area bouncing between 50 and 200 ma on d1.

Took my 1st trade on cable this morning in 10 days, went to work, got filled and stopped straight after the news

I am sitting on the sidelines again until the congestion has sorted itself out. In the mean time I am looking at other pairs instead. Good luck with your trading people.
  • #246,736
  • Aug 18, 2010 10:43am Aug 18, 2010 10:43am
Quoting Sunsi
Would you lik to explain what you think when you this formation and the next candles arent giving any effect right away?

Like now.. I feel that that formation is very bearish, but it dosent seem to go to far down? Or Have I missunderstoo something.
Thanks or helping me learn
mate, we just consolodating, time will tell but we will propably go down to bottom of range... Don't trust me but thats what I'm thinking... Any more experienced answers?
@pawpaw1000 on Twitter
  • #246,737
  • Aug 18, 2010 10:49am Aug 18, 2010 10:49am
Quoting Sunsi
Would you lik to explain what you think when you this formation and the next candles arent giving any effect right away?

Like now.. I feel that that formation is very bearish, but it dosent seem to go to far down? Or Have I missunderstoo something.
Thanks or helping me learn
welp, that's a bearish engulfing pattern. It signals that the trend is weakening & is about to shift. Your understanding is perfectly fine, it's just that the reason you aren't seeing any effect right away from the chart I posted is because it's the W1/weekly. We still have 2 days left for the current candle to close. So it might take a while to develop. So if you plan to trade the htf, you have to be really patient in the buildup. If you scalp, then the formation on the htf is of no concern really.
Anyway I've read people saying the trend is up yada yada yada, yes we all know that, but the fact that the htf ie the weekly & daily are producing strong bearish reversal patterns (the engulfer on the W1 & the crows on the D1), it won't hurt to start to look the other way.
Thank You
  • #246,738
  • Aug 18, 2010 10:51am Aug 18, 2010 10:51am
Quoting wormboy
welp, that's a bearish engulfing pattern. It signals that the trend is weakening & is about to shift. Your understanding is perfectly fine, it's just that the reason you aren't seeing any effect right away from the chart I posted is because it's the W1/weekly. We still have 2 days left for the current candle to close. So it might take a while to develop. So if you plan to trade the htf, you have to be really patient in the buildup. If you scalp, then the formation on the htf is of no concern really.
Anyway I've read people saying the trend is up...
Thanks alot! I am greatfull for your help!
  • #246,739
  • Aug 18, 2010 10:51am Aug 18, 2010 10:51am
Quoting pawpaw1000
mate, we just consolodating, time will tell but we will propably go down to bottom of range... Don't trust me but thats what I'm thinking... Any more experienced answers?
london will tell us

this seems to be setting up

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  • #246,740
  • Aug 18, 2010 10:51am Aug 18, 2010 10:51am
Quoting malcolmb14
for me closes relative to last are the most critical .. i love these bars that show only closes. Pretty cool

Attachment
Nice setup!
I beleive into VSA, but won't trade sonely on it.
But all this make sens!

That 1.5500 yesterday killed me.
I should have been more aware about... VSA! LOL

Later!

Quoting wormboy
Anyway I've read people saying the trend is up yada yada yada,...
LOL!
"Flip that coin!"
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