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Cable Update (GBPUSD)

  • #250,861
  • Sep 3, 2010 5:37am Sep 3, 2010 5:37am
Quoting wormboy
I use the day open price to gauge i/d bias when scalping the m1 & m5.
open above the dop I look to scalp long and vice versa. Of course there are exceptions to the matter when I do discard the dop bias and trade both sides but generally scalping on the dop side is good enough & will save your skin almost everytime on range trading days.
Thank you. Much appreciated!
  • #250,862
  • Sep 3, 2010 5:41am Sep 3, 2010 5:41am
Quoting javajames
no comment......just because you don't know him......
There are a lot of people who would like to know where he is now! Do you know where he is, because if you do please let them know on Jacko's House of Pain thread.
  • #250,863
  • Sep 3, 2010 5:44am Sep 3, 2010 5:44am
Pay me !! (do they take demo account money)

I'm what is commonly known as a NEWBIE !!

Tryinig to scalp as much information from you guys as I can !!

Rob


Quoting ams
HI Dayboy001,

How much do you pay for the Reuters news service?
Is it a terminal you get or website service?


ta
ams
  • #250,864
  • Sep 3, 2010 5:45am Sep 3, 2010 5:45am
Quoting wormboy
I use the day open price to gauge i/d bias when scalping the m1 & m5.
open above the dop I look to scalp long and vice versa. Of course there are exceptions to the matter when I do discard the dop bias and trade both sides but generally scalping on the dop side is good enough & will save your skin almost everytime on range trading days.
Ok, I guess where my confusion is ...the open price is .. where it opens .. so how can it 'open' above/below that??
I'm probably not getting something obvious...
******************* I'd rather make money than be right.
  • #250,865
  • Sep 3, 2010 5:47am Sep 3, 2010 5:47am
Quoting uksnowman
do you really think you have an edge looking at macd divergence on 1m chart?
that just highlights a point fella! worked out nice though didnt it hope you got some to
Trade what you see never what you think!
  • #250,866
  • Sep 3, 2010 5:47am Sep 3, 2010 5:47am
Quoting 4xStar
dop = daily pivot?
Quoting Delite
Daily open price.
yup

Quoting Delite
Thank you. Much appreciated!
you're welcome.

Quoting javajames
Wormie.....On M30 I will never for sure use kumo for closing a trade....that's of course another story on H4 .....

So here on M30 more importantly I'll wait for PA to hit other side of channel to wonder if I close this trade......after a look at H4 for a final decision....

Hope it helps.....
okay james thanks
one more question ... if you don't use the m30 kumo for your trades, why is it there?
Thank You
  • #250,867
  • Sep 3, 2010 5:47am Sep 3, 2010 5:47am
Quoting 4xStar
Ok, I guess where my confusion is ...the open price is .. where it opens .. so how can it 'open' above/below that??
I'm probably not getting something obvious...

I only learned this the other day from Magix. The open price is at 5pm EST. As you can see, the LO was above that level. Hope that helps!
  • #250,868
  • Sep 3, 2010 5:50am Sep 3, 2010 5:50am
I believe the market data of of the USD component: Non-Farm Employment Change, Unemployment Rate & Average Hourly Earnings m/m all due out at 1:30 pm (GMT). so i shall wait for then. also i have notice that the GBP/USD goes through two gears first the 6:00-9:00am (GMT) and then 12:30-4:30 (GMT) Tokyo & New York trading zones respectivly. But 1:30 brings the biggest flux of 50-100 pip jumps can happen.

Anyway I'm currently short @ 1.5440 looking to get out at 1.5340.
Our beliefs are based on logic and the pursuit of clearity.
  • #250,869
  • Sep 3, 2010 5:51am Sep 3, 2010 5:51am
Quoting bbakker
There are a lot of people who would like to know where he is now! Do you know where he is, because if you do please let them know on Jacko's House of Pain thread.
Sorry nope.....but I know there were some people using Jacko's name on some places on internet......
Non licet omnibus adire Corinthum
  • #250,870
  • Sep 3, 2010 5:57am Sep 3, 2010 5:57am
Quoting javajames
Sorry nope.....but I know there were some people using Jacko's name on some places on internet......

who is jacko
  • #250,871
  • Sep 3, 2010 5:59am Sep 3, 2010 5:59am
Quoting 4xStar
Ok, I guess where my confusion is ...the open price is .. where it opens .. so how can it 'open' above/below that??
I'm probably not getting something obvious...
here is a chart 4xStar, light and dark colored areas with the days open or rollover price being the dividing line , bullish bias if you open and trade above the open , bearish bias if you open trade below the open , until it gets taken out one way or the other, a support or resistence line till taken out . Think of the open area or rollover price as a river box area
Attached Image (click to enlarge)
Click to Enlarge Name: 5 minute.jpg Size: 131 KB
  • #250,872
  • Sep 3, 2010 5:59am Sep 3, 2010 5:59am
Quoting wormboy
yup



you're welcome.



okay james thanks
one more question ... if you don't use the m30 kumo for your trades, why is it there?
Very good question.....
I'm used to look at PA in relationship to kumo ....remember ichimoku means equilibrium.....so I know for sure, on any timeframe PA will come back to kumo....so if a channel line is inside a kumo then we have a perfect TP....without reference to the trend....

Hope it helps
Non licet omnibus adire Corinthum
  • #250,873
  • Sep 3, 2010 6:08am Sep 3, 2010 6:08am
Quoting dil
who is jacko
Search FF or google Wayne Jackson Forex or view his profile (jacko) and you will find out.
  • #250,874
  • Sep 3, 2010 6:09am Sep 3, 2010 6:09am
Quoting dil
who is jacko
google jacko.....
Non licet omnibus adire Corinthum
  • #250,875
  • Sep 3, 2010 6:11am Sep 3, 2010 6:11am
  •  zigizum
  • | Joined Aug 2010 | Status: Not in a hurry too blow my account | 52 Posts
Quoting digger1
here is a chart 4xStar, light and dark colored areas with the days open or rollover price being the dividing line , bullish bias if you open and trade above the open , bearish bias if you open trade below the open , until it gets taken out one way or the other, a support or resistence line till taken out . Think of the open area or rollover price as a river box area Attachment


very very nice mate
  • #250,876
  • Sep 3, 2010 6:12am Sep 3, 2010 6:12am
Quoting zigizum
very very nice mate
Vey worthwhile to keep track of as it generates some nice trades over the course of a week . Weekly, monthly quarterly work the same way , just much bigger trades .
  • #250,877
  • Sep 3, 2010 6:23am Sep 3, 2010 6:23am
Quoting zigizum
very very nice mate
Not colored the same but a monthly view with the opens pointed out , once it gave way last month it was a very stiff resistence area tht price never did get back above , so far this month it has stayed above it.
Attached Image (click to enlarge)
Click to Enlarge Name: 8 hour view.jpg Size: 142 KB
  • #250,878
  • Sep 3, 2010 6:27am Sep 3, 2010 6:27am
Quoting digger1
here is a chart 4xStar, light and dark colored areas with the days open or rollover price being the dividing line , bullish bias if you open and trade above the open , bearish bias if you open trade below the open , until it gets taken out one way or the other, a support or resistence line till taken out . Think of the open area or rollover price as a river box area Attachment
A picture tells a thousand words! Nice
  • #250,879
  • Sep 3, 2010 6:29am Sep 3, 2010 6:29am
Quoting bbakker
A picture tells a thousand words! Nice
Lol, indeed they do.
  • #250,880
  • Sep 3, 2010 6:30am Sep 3, 2010 6:30am
  •  zigizum
  • | Joined Aug 2010 | Status: Not in a hurry too blow my account | 52 Posts
Quoting digger1
Not colored the same but a monthly view with the opens pointed out , once it gave way last month it was a very stiff resistence area tht price never did get back above , so far this month it has stayed above it. Attachment


Thanks! ..like this also...ill try to use it together with other stuff..
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