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Cable Update (GBPUSD)

  • #248,721
  • Edited 2:54pm Aug 25, 2010 1:59pm | Edited 2:54pm
Quoting malcolmb14
something brewiing and patience previals

tight range ... last 48 hours almost , all up moves on a 60 getting hit with high volume ( re distribution)

Maybe like this thru to Fridays GDP.

I am still on the bearish side for now
malcolmb, did you ride the crawl up in the ES today?
  • #248,722
  • Aug 25, 2010 2:00pm Aug 25, 2010 2:00pm
if you only take compliments not critics. lets assume it into good and bad. there's a line say. if you cant say any good, you better keep your mouth shut!
Verily, in every difficulties there is relief
  • #248,723
  • Aug 25, 2010 2:00pm Aug 25, 2010 2:00pm
Quoting joemiami
i speak a lil unorthodox on here sometimes. I admit it, just dont take seriously what I say on here. Sometimes I give the false impression without wanting to... sorry to confuse some of the others on here.... will be more careful in the future
no worries.. welcome to the madhouse.
  • #248,724
  • Aug 25, 2010 2:24pm Aug 25, 2010 2:24pm
Quoting Fudomyo
no worries.. welcome to the madhouse.
LOL!

The real trouble here from me is that some peeps think they are the "start and the end", and whit this attitude of "know it all" they choose to pin point any mistake done by newbs to drop their guru shit.

I really ask myself why they care....

Maby they doubts about their own tech and need newby follower?!?
Or maby they like boosting their ego more then making money!?

I don't know, and I don't care, but it's annoying!
Muahahha!

Later bud!
"Flip that coin!"
  • #248,725
  • Aug 25, 2010 2:32pm Aug 25, 2010 2:32pm
if the current support TL we're riding on holds and we pull up to the descending Daily TL, 15600 area, it could establish a consolidation range before the next move down. A break above this would put us back in bull territory again.

if the TL gives way, 15300, then 15100 are next logical targets.

We broke under the Monthly Dynamic Point for the first time since June 10th 4 days ago. (pink line) so market sentiment is bearish, but this doesn't rule out a retest of the 15600 prior support area before continuing down.
Attached Image (click to enlarge)
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  • #248,726
  • Aug 25, 2010 2:41pm Aug 25, 2010 2:41pm
Hey!

I understand we are in bearish territory but don't you think that behing around 61.8 retracement of last move down is a good reason to start looking for longs, or just stop shorting? (I'm not long yet, don't shoot me LOL).

I'm surely not blind about fact its going down and would not buy whitout confirmation, but the area we re in now make me hesitate about lower levels. Are we really reverse the full move under 1.51, or even attack further the base of the move (like 88.6%)... hum maby...

I only think this is really a picky place and that after that this 650 pips correction on a 900 pips previous move, GU could take some color before the winter...

Let's see as always!
Take care!




Quoting Fudomyo
if the current support TL we're riding on holds and we pull up to the descending Daily TL, 15600 area, it could establish a consolidation range before the next move down.

if the TL gives way, 15100 is a logiccal target.

We broke under the Monthly Dynamic Point for the first time since June 10th 4 days ago. (pink line) so market sentiment is bearish, but this doesn't rule out a retest of the 15600 prior support area first.
"Flip that coin!"
  • #248,727
  • Edited 3:11pm Aug 25, 2010 3:01pm | Edited 3:11pm
I've had a few requests on these chart set-ups and their useful applications.
Compression charts are gaining some popularity and when used in multiple tf
configurations become a useful tool and timing signal for locating optimal trades
which will often yield large numbers of pips. Could they be used alone without
the need for any other indicators such as pivots, camarilla pivots, trend lines, fibs
and PA remains for your discovery. Moving averages alone serve as dynamic
areas of support and resistance. Their collective actions even without bars or
candles offer a view of price action and market mood. Since a narrow view of a
single chart in a full compression pattern alone may offers no immediate direction
of the inevitable breakout, some traders might then dismiss their value entirely.
Adding more tf's and observing the behavior of these EMA patterns may provide
direction to a trade analysis and setup. I like them because they keep me away
from unnecessary charting screen time and from wandering off onto forbidden
paths ladened with the carcasses of novice traders who once cluttered their
charts with myriads of confusing and / or deceptive indicators.

This post listed below gives the EMAs that are used to create the visual displays
for set-ups.

http://www.forexfactory.com/showpost...stcount=248555

Here's how I use them:

With this EMA setup, look for any tf that has a compression pattern in the
process of forming, when the EMAs are converging together and gathering
into a tight narrow configuration. This then becomes a possible foundation
level. Then look to the higher and lower tfs: to a lower tf to catch an earlier
C-pattern (if one exists) for a better entry level... one that is forming more
quickly (as lower tfs do) or that has already formed, released and committed
which gives direction for a move. This ideally would be in the same trend
direction found with a mature formation level in higher tf(s) that is clearly
in separation and expansion of the EMAs. Doesn't always happen in a consistent
fashion. There can be fake-outs with choppy volatile moves present in these
lower entry tfs and even in the foundation tfs. The best moves with the largest
pip yields are where the foundation tf and the mature higher tf's are compatibly
in the same trend direction. Sometimes the foundation pattern and directional
release is serving as a correction, consolidation and retrace for the mature
longer tf(s) and the move then will be limited until another C-pattern develops.
Nothing moves in a straight line so smaller tf C-patterns are often repeating
lending support and direction (or consolidation and retracements) to any of the
larger tf moves. There is a consistency seen in the lower tfs as they gather,
form and release energy in these various corrective phases in a sustained trend
of a higher tf. Then it's just a matter of following the waves... still using the
compression formations for entries and bubbles that collapse for exits and reversals
within the trends.

Dr. D.
  • #248,728
  • Aug 25, 2010 3:04pm Aug 25, 2010 3:04pm
In these charts below, you'll see the last good move down off of the 15m CRS pattern
which produced 180+ pips. That could be considered the foundation tf. The 1h was in a
commited down direction with the EMAs already separated which had pulled back into a
pause or consolidation to possibly produce another move. So ideally the best trade set-up
would have been to trust a down move ahead of the compression release in the 15m.

Drilling down still further to lower tfs, the 1m and 5m had each begun to form earlier as
is often the case. Lower tfs patterns preceed the formations of higher tfs patterns. They
may even contribute to their formations. The 1m chart happened to reach a compression
20 pips earlier than the 15m and would have been the perfect entry. Unfortunately the 1m
and 5m can jump all over the place and produce so much noise to prevent placing too much
confidence on their initial moves until there was seen a commitment move by a higher tf.
Scaling in and out of trades through each tf's confirmed movement could be a safe approach.
Gaining some confidence in the continued committed direction given in the higher mature
compression - release - separation (CRS) patterns will get you in a trade sooner and remain in
the trade longer.

Dr. D.
Attached Images
  • #248,729
  • Edited 7:57pm Aug 25, 2010 3:12pm | Edited 7:57pm
I thought we come here because no one we know (who doesn't trade) wants to hear us talk about the markets, or wants to see our charts....



Quoting Scipionz
LOL!

The real trouble here from me is that some peeps think they are the "start and the end", and whit this attitude of "know it all" they choose to pin point any mistake done by newbs to drop their guru shit.

I really ask myself why they care....

Maby they doubts about their own tech and need newby follower?!?
Or maby they like boosting their ego more then making money!?

I don't know, and I don't care, but it's annoying!
Muahahha!

Later bud!
  • #248,730
  • Aug 25, 2010 3:27pm Aug 25, 2010 3:27pm
Attached Image(s) (click to enlarge)
Click to Enlarge Name: profit2.JPG Size: 144 KB
Click to Enlarge Name: portfolio.JPG Size: 90 KB
Trade what you see, Not what you think.
  • #248,731
  • Aug 25, 2010 3:27pm Aug 25, 2010 3:27pm
Quoting Scipionz
LOL!

The real trouble here from me is that some peeps think they are the "start and the end", and whit this attitude of "know it all" they choose to pin point any mistake done by newbs to drop their guru shit.

I really ask myself why they care....

Maby they doubts about their own tech and need newby follower?!?
Or maby they like boosting their ego more then making money!?

I don't know, and I don't care, but it's annoying!
Muahahha!

Later bud!
What is wrong with teaching others? A lot of people come here to learn and some of the experienced traders try to impart their knowledge to these people willing to learn.

My wife is a school teacher and I can assure you she doesn't do it for her ego nor the money! It takes a certain kind of person to teach others, but obviously you don't see it that way.

If you find it annoying you can use the Iggy Pop feature to filter out anything that annoys you
  • #248,732
  • Aug 25, 2010 3:35pm Aug 25, 2010 3:35pm
Quoting khizer
Excellent! I have a name and client ID now to help myself to your money. Ching ching... this is better than trading.

All I now need to do is trawl the Internet for some further background information on Khizer and that bit is easy as everyone leaves their electronic footprint behind and I can cash in.

Actually forget that, just answer the following questions for me please -

1. DOB?
2. Place of birth?
3. Mother's maiden name?
4. Bank A/C No?
5. Pin number?

If you won't answer these questions, I'll just send you a phishing email instead to get them.
  • #248,733
  • Aug 25, 2010 3:36pm Aug 25, 2010 3:36pm
In my view, the trend is still down through some of
the larger tfs. We see here the 15m reforming into
a C-pattern assisted by the recent up move on the 5m.

I would like to see the 15m complete a full compression
pattern and release downward in the Asian to add more
carcasses to the pile... lol and then upward in FF - LDN
to help the 30m and even the 1h charts compress further,
but not too far up or it will mess up the 4h's gathering
for a big kaboom.

Dr. D.
Attached Images
  • #248,734
  • Aug 25, 2010 3:37pm Aug 25, 2010 3:37pm
Quoting Fudomyo
I thought we come here because no one we know (who doesn't trade) wants to hear us talk about the markets, or wants to see our charts....

btw... I wonder where DT went.
So true! As soon as I open my mouth about trading to my wife, she puts a sock in it

Goodnight people... I've got some phishing to do!
  • #248,735
  • Aug 25, 2010 3:37pm Aug 25, 2010 3:37pm
Quoting bbakker
Excellent! I have a name and client ID now to help myself to your money. Ching ching... this is better than trading.

All I now need to do is trawl the Internet for some further background information on Khizer and that bit is easy as everyone leaves their electronic footprint behind and I can cash in.

Actually forget that, just answer the following questions for me please -

1. DOB?
2. Place of birth?
3. Mother's maiden name?
4. Bank A/C No?
5. Pin number?

If you won't answer these questions, I'll just send you a phishing email instead to...
Somehow it just sounds if you wont be doing tht in khizer's best intrest hahaha.
  • #248,736
  • Aug 25, 2010 3:53pm Aug 25, 2010 3:53pm
Quoting CoffeeDrinke
Somehow it just sounds if you wont be doing tht in khizer's best intrest hahaha.
If you look carefully at the URL his login is DEMO2jjsCu. That tells me it is a demo account, but I could be wrong!

Now the password is zhash coded... shame the whole hash code is not in the URL because it is too long otherwise I could have cracked his password too! No need for phishing emails.

You pick these things up when you have worked in the IT industry for 20 years
  • #248,737
  • Aug 25, 2010 4:04pm Aug 25, 2010 4:04pm
Quoting bbakker
If you look carefully at the URL his login is DEMO2jjsCu. That tells me it is a demo account, but I could be wrong!
Makes sense, Dukuascopy starts out their demos with 100K.

Some people really take a lot of pride in their demo accounts.
  • #248,738
  • Aug 25, 2010 4:05pm Aug 25, 2010 4:05pm
Quoting bbakker
If you look carefully at the URL his login is DEMO2jjsCu. That tells me it is a demo account, but I could be wrong!

Now the password is zhash coded... shame the whole hash code is not in the URL because it is too long otherwise I could have cracked his password too! No need for phishing emails.

You pick these things up when you have worked in the IT industry for 20 years
Well even if it is demo you know it is alot, has to be worth something haha.
Anyway, just out of intrest, do you find it better trading longer term now or do you miss day trading???
  • #248,739
  • Aug 25, 2010 4:18pm Aug 25, 2010 4:18pm
Quoting cloggie
Sorry for picking you out as example why a short there would not have worked. Have a goodnight. See you in the morning.

She has still not made up her mind yet on where to go. I am done too.

Likely next stop 5472.
All good Cloggs,

You know I love it when you pick on me as thats when I learn the most!

See 2moro...
@pawpaw1000 on Twitter
  • #248,740
  • Aug 25, 2010 4:25pm Aug 25, 2010 4:25pm
Quoting cloggie

Likely next stop 5472.

To the pip.
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