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Cable Update (GBPUSD)

  • #249,101
  • Aug 26, 2010 11:08pm Aug 26, 2010 11:08pm
Quoting Scipionz
If it break down, just hedge your position and realese it when you think it will realy reverse (around 5300).
This way you'll have a second chance to get the distance back and BE the trade.

Just an idea...
Thanks for the idea... I don't think i will hedge.. I would rather take my loss.. I am risking my whole month's profit plus around $200 from my capital provided i close this trade at 1.5500....My plan is to close this immediately after it breaks the 1.5510 level.. I think i should be ok here...
  • #249,102
  • Aug 26, 2010 11:17pm Aug 26, 2010 11:17pm
Quoting joemiami
To Magix and Scipionz, a BIG THANK YOU!!!
espec you Mag... a true teacher with a heart of gold
I have hedge position in sell 1 lot at 1.5378, so I can remove the lock in 15300.

thank you
  • #249,103
  • Aug 26, 2010 11:17pm Aug 26, 2010 11:17pm
would be nice if she dropped down to 5300
  • #249,104
  • Aug 26, 2010 11:26pm Aug 26, 2010 11:26pm
Quoting joemiami
would be nice if she dropped down to 5300

  • #249,105
  • Aug 26, 2010 11:40pm Aug 26, 2010 11:40pm
Quoting primzvicious
http://cdn.forexfactory.com/attachme...3&d=1282633945


seems consolidation almost finished...
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Verily, in every difficulties there is relief
  • #249,106
  • Aug 27, 2010 12:12am Aug 27, 2010 12:12am
Quoting hindustani
in compression patterns your direction is given by smaller ema's turning towards bigger em'a, and also your reversal patterns come that way

I'm not sure I'm understanding you. You'll need to explain and
perhaps give a chart or two with examples of where 'direction
is given'. That being the deficiency of this work.

The compression 'phase' of these cyclical patterns is naturally
the result of a gathering and drawing together of all the ema's
because the price is pulling back from its previous direction.
Then logically as you have pointed out, we see the "smaller ema's
turning towards bigger ema's". A reversal also must first go
through this gathering of ema's; however, they may not linger
long in any tight formation and just curl over due to sustained
momentum... BUT... I don't see where 'direction is given' based
on a single chart alone that has formed a compression pattern.

Here's three tf's: 5m, 60m, daily - each forming compression patterns.

Can you predict the direction the price will take while in their
compression formation when they do eventually breakout by simply
viewing one chart alone? You may have found the missing link.

Dr. D.
Attached Images
  • #249,107
  • Aug 27, 2010 12:24am Aug 27, 2010 12:24am
Quoting LostMyShirt
Thanks for the idea... I don't think i will hedge.. I would rather take my loss.. I am risking my whole month's profit plus around $200 from my capital provided i close this trade at 1.5500....My plan is to close this immediately after it breaks the 1.5510 level.. I think i should be ok here...
That doesn't make any sense. Give yourself a fighting chance, listen to Scipionz and hedge. We are in a ranging market, you have every chance to break-even.
  • #249,108
  • Aug 27, 2010 12:35am Aug 27, 2010 12:35am
Quoting ikdenk
That doesn't make any sense. Give yourself a fighting chance, listen to Scipionz and hedge. We are in a ranging market, you have every chance to break-even.
Forget it, they all red the same ebook that say that hedging is the devil itself....
Rather lose all month profit then play whit him... its logic.

Later!

ps: sorry, I been told its not call hedging anymore, but multy strategy system.... LOL
"Flip that coin!"
  • #249,109
  • Aug 27, 2010 12:52am Aug 27, 2010 12:52am
Quoting Scipionz
Forget it, they all red the same ebook that say that hedging is the devil itself....
Rather lose all month profit then play whit him... its logic.

Later!

ps: sorry, I been told its not call hedging anymore, but multy strategy

system.... LOL
Morning..........................

Who cares what it's called, if it works for you do it.

Too many here are swayed by what the 'lords of the thread think' rather than either going with what they want or wish or even like too do.


I for one will stick with what I was taught, especially as it is working
  • #249,110
  • Aug 27, 2010 12:53am Aug 27, 2010 12:53am
Quoting LostMyShirt
Thanks for the idea... I don't think i will hedge.. I would rather take my loss.. I am risking my whole month's profit plus around $200 from my capital provided i close this trade at 1.5500....My plan is to close this immediately after it breaks the 1.5510 level.. I think i should be ok here...
Hmmm Its gonna get me here, i guess.. Where did all those buyers at 1.5510 go??
  • #249,111
  • Aug 27, 2010 12:53am Aug 27, 2010 12:53am
Guys
Why is that sudden movement when news is 10 min ahead...
  • #249,112
  • Aug 27, 2010 12:55am Aug 27, 2010 12:55am
Quoting Scipionz
Forget it, they all red the same ebook that say that hedging is the devil itself....
Rather lose all month profit then play whit him... its logic.

Later!

ps: sorry, I been told its not call hedging anymore, but multy strategy system.... LOL
I never tried hedging as the way you define and do not want to try new strategies in the middle of the game...
  • #249,113
  • Aug 27, 2010 1:00am Aug 27, 2010 1:00am
Quoting LostMyShirt
I never tried hedging as the way you define and do not want to try new strategies in the middle of the game...
Its ok, I am not criticising you.
Almost the whole forum think like this and this is also all good for me.

As Adrian said, we better do what work for us.
So follow your plan.

Take care!

Quoting AdrianHNV
Morning..........................
I for one will stick with what I was taught, especially as it is working
Morning Adrian!
How been the sun whit the tea in the garden yesterday?
"Flip that coin!"
  • #249,114
  • Aug 27, 2010 1:04am Aug 27, 2010 1:04am
Quoting Scipionz
Its ok, I am not criticising you.
Almost the whole forum think like this and this is also all good for me.

As Adrian said, we better do what work for us.
So follow your plan.

Take care!



Morning Adrian!
How been the sun whit the tea in the garden yesterday?

oppps no sun yesterday,,,,,,, rain all day and most of night too........ good thing we live at top of hill
  • #249,115
  • Aug 27, 2010 1:07am Aug 27, 2010 1:07am
Well, looks like resistance held and time for a little sell off before London....

Whuda Thunk?
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #249,116
  • Aug 27, 2010 1:11am Aug 27, 2010 1:11am
Quoting Magix
Well, looks like resistance held and time for a little sell off before London....

Whuda Thunk?
Morning Magix

yup does look that way
  • #249,117
  • Aug 27, 2010 1:13am Aug 27, 2010 1:13am
Quoting hindustani
cable daily chart just completed the frog pattern, yesterdays candle closed below april 15 high of 5522, and today's candle also opened below 5522.

will this frog jump into the water and look for its princess at 5380 or hop out of the water ?

Quoting hindustani
frog pattern is when we have a previous candle close and current candle open below an important resistance level, despite the previous candle making a big wick, this is sign of bearishness, unless the frog jumps out of the water denoted by the resistance level.
the frog pattern played out nicely and we got out short, no all that remains is to wait for 5380 support [march 17 high]
  • #249,118
  • Aug 27, 2010 1:16am Aug 27, 2010 1:16am
Quoting fourxtrader
I'm not sure I'm understanding you. You'll need to explain and
perhaps give a chart or two with examples of where 'direction
is given'. That being the deficiency of this work.

The compression 'phase' of these cyclical patterns is naturally
the result of a gathering and drawing together of all the ema's
because [i][color=blue]the...
lets consider you are using ema 1, 2, 3, 4, 5

so when 1 crosses 2 to the upside, and 2 crosses 3 to the upside we are setting a direction

in the event of a compression this direction becomes more stronger

i hope you get the idea
  • #249,119
  • Aug 27, 2010 1:18am Aug 27, 2010 1:18am
Compression patterns produce explosive and
near vertical movement when they release.

Dr. D.
Attached Images
  • #249,120
  • Aug 27, 2010 1:22am Aug 27, 2010 1:22am
Quoting hindustani
the frog pattern played out nicely and we got out short, no all that remains is to wait for 5380 support [march 17 high]
in this second trade posted on FF, I am not expecting more th an 5400, because a lot of supports come around 5385 area.
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