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Cable Update (GBPUSD)

  • #246,741
  • Aug 18, 2010 10:52am Aug 18, 2010 10:52am
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...
8 min left of 60 and we have inside bar , bull continuation off 1.5600
Blogging daily now at www.volume.zone
  • #246,742
  • Aug 18, 2010 10:55am Aug 18, 2010 10:55am
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?
it is true that we just consolidating (a-b-c formation on elliot wave), and now we retracing to make wave 2 (as long as the abc formation not broke). then we may see next wave which is lower... and guess what if this pattern reach wave 5 on H1, H4 just starting to form wave 5
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Verily, in every difficulties there is relief
  • #246,743
  • Aug 18, 2010 10:55am Aug 18, 2010 10:55am
reckon we broken the range up on m15 with a nice hammer 4 bars back so I got in, will put s/l to be soon, up 4 now.

targeting R1, 1.5662

Closed for -2pips... I'm not trading this... Not sure whats going on...
@pawpaw1000 on Twitter
  • #246,744
  • Aug 18, 2010 10:59am Aug 18, 2010 10:59am
Quoting malcolmb14
here is simple hulls and vsa .. look where the volume piskes are right at top of flags / up moves

I hit this one off .15670 yesterday for 1.5560 target , covered why in my vsa thread. Now long again ...

Attachment
can you kindly explain the Hulls and VSA thing for me. and what are all those indys on ur chart. a template you can attach?
  • #246,745
  • Aug 18, 2010 11:03am Aug 18, 2010 11:03am
Quoting malcolmb14
8 min left of 60 and we have inside bar , bull continuation off 1.5600
come on man, I was referring to the bearish engulfer on the W1 & you quote me for a H1. It's like comparing apples & oranges lol.
Anyway, my H4 just closed a spinning top. I don't reckon will go far till LO tomorrow.

Right i'm outta here ...... again.
Thank You
  • #246,746
  • Aug 18, 2010 11:04am Aug 18, 2010 11:04am
think he has own thread to read up on.
  • #246,747
  • Aug 18, 2010 11:05am Aug 18, 2010 11:05am
Quoting ohan
will it be lower high than on either sides for pivot bar long? i'm confused


That confused me also. I agree with you, and to be consistent,
I would think a pivot long should have the lower high as you said.
Looks similar to a continuation break off of an inside bar formation.

Did he correct his earlier statement? Otherwise it's misleading
and more will be confused.

Dr. D.
  • #246,748
  • Aug 18, 2010 11:06am Aug 18, 2010 11:06am
Quoting wormboy
come on man, I was referring to the bearish engulfer on the W1 & you quote me for a H1. It's like comparing apples & oranges lol.
Anyway, my H4 just closed a spinning top. I don't reckon will go far till LO tomorrow.

Right i'm outta here ...... again.
its good to have you backuping my trade plan
Verily, in every difficulties there is relief
  • #246,749
  • Aug 18, 2010 11:14am Aug 18, 2010 11:14am
Quoting lechidi
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?
You look to H4 and up, daily, weekly to get the overall trend. Then from H1 on down you can also take countertrend trades, but just realize if big picture trend is going up and you are shorting from a H1 .. it is fine, but you are going counter so be more alert & possibly a smaller position.

One problem in here is people call out targets .. like 1.5800 or 1.5300 but don't always clarify which tf they are playing off. Wormy looks at the big picture, sets 100+ pip stops and is usually right .. but if you try to trade his sentiment on a H1 or 15 min, you will probably get slaughtered.

So you need to decide which tf you are taking the trade from, set your sl and tp according to that particular trade, and then stick to it.
I still am struggling with that! I keep wanting to morph a short term scalp into a longer term trade ... not a good idea.
******************* I'd rather make money than be right.
  • #246,750
  • Aug 18, 2010 11:16am Aug 18, 2010 11:16am
know this is cable thread but fibr does have some play in it soo anyone seeing a bear flag on fibre h4?
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  • #246,751
  • Aug 18, 2010 11:17am Aug 18, 2010 11:17am
Price re-entery into the congestion zone failed to complete
She bounced back up just above 1.5560s

I'm buying here @ 1.5610
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Hear the music before the song is over ...
  • #246,752
  • Aug 18, 2010 11:27am Aug 18, 2010 11:27am
Quoting GlobalMacro
Price re-entery into the congestion zone failed to complete
She bounced back up just above 1.5560s

I'm buying here @ 1.5610
...i'm with you for a quick one, stops already @ b/e given we're just under daily LTL.
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  • #246,753
  • Aug 18, 2010 11:31am Aug 18, 2010 11:31am
Quoting ChowClown
...i'm with you for a quick one, stops already @ b/e given we're just under daily LTL.
her resolve isn't firm atm...so yeah we gotta be quick if she decides to get funky again...
Hear the music before the song is over ...
  • #246,754
  • Aug 18, 2010 11:36am Aug 18, 2010 11:36am
Personally I'm excited that Pip Stunner has arrived. Now we can all finally learn how to trade. What a relief that we now have someone in this thread that has mastered trading in just a few months.

And with the micro-account he has, i'm sure his order flow in the 4 trillion a day forex market will be the wind in our sails to carry our trades to their targets.



But seriously... Thanks Wormboy, Cloggie, 4xStar and many others here. Your insights have improved my profitability since I started following this tread a few months back.

Quoting wormboy
lol. post up a chart or at least a reason for your "buy for 2 weeks" then maybe you'll be taken seriously.
  • #246,755
  • Aug 18, 2010 11:51am Aug 18, 2010 11:51am
Quoting Derwood
Personally I'm excited that Pip Stunner has arrived...
Funny stuff! hehe!
"Flip that coin!"
  • #246,756
  • Aug 18, 2010 12:04pm Aug 18, 2010 12:04pm
Thanx

Quoting mygoldenpips
support and resistance
  • #246,757
  • Aug 18, 2010 12:05pm Aug 18, 2010 12:05pm
From a compression chart perspective, we're sitting on
the fence here with the 15m as it forms a tight pattern.

Any further movement upward would help the 30m and
eventually the 1h close the EMAs into their CRS formation.

Any movement downward will continue to gather the 4h EMAs
and maintain the tight formation that has developed on the daily.

We're talking of breakouts into the hundreds (or even 1000's)
of pips on these higher tfs when a pattern fully compresses,
releases and continues in its separation and expansion phase.

Watch it happen.

Dr. D.
Attached Image
  • #246,758
  • Aug 18, 2010 12:12pm Aug 18, 2010 12:12pm
It was my mistake when I put the text on the chart. It has been changed here, http://www.forexfactory.com/showpost...stcount=246728

Long would be lower high and short would be higher low


Quoting fourxtrader
That confused me also. I agree with you, and to be consistent,
I would think a pivot long should have the lower high as you said.
Looks similar to a continuation break off of an inside bar formation.

Did he correct his earlier statement? Otherwise it's misleading
and more will be confused.

[i][color=blue]Dr....
  • #246,759
  • Aug 18, 2010 12:19pm Aug 18, 2010 12:19pm
Quoting fxoxford
belly dancer
How else to charaterize what she is doing ? She goes this way and next step, she goes That Way. What I would like is she comes My Way !

On this happy thought, Good Night ! See you tomorrow !
  • #246,760
  • Aug 18, 2010 12:20pm Aug 18, 2010 12:20pm
Quoting Derwood
Personally I'm excited that Pip Stunner has arrived. Now we can all finally learn how to trade. What a relief that we now have someone in this thread that has mastered trading in just a few months.

And with the micro-account he has, i'm sure his order flow in the 4 trillion a day forex market will be the wind in our sails to carry our trades to their targets.



But seriously... Thanks Wormboy, Cloggie, 4xStar and many others here. Your insights have improved my profitability since I started following this tread a few months back.
lol,
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