Cable Update (GBPUSD) | Page 12614 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #252,261
  • Sep 10, 2010 8:24am Sep 10, 2010 8:24am
Quoting cloggie
This now comes down to personal preferences and your ability to read the price, there were several signals you could have used, the flat top on the 5 at 1105 GMT, the bearish engulfing on the 15 at 1115 GMT, the break of the low on the bullish engulfing on the 15 at 1200 GMT, the actual break of the DP on the 5, the multiple dojis with demand bars on the M1. There were plenty of signals all over, just a matter of identifying them and believing in them.
Lot to learn but I'll get there. Thanks for those very helpful pointers.
  • #252,262
  • Sep 10, 2010 8:24am Sep 10, 2010 8:24am
Quoting trending
Yes, I agree it is lagging. I'm just trying to explain what egkid meant when he said ma do not lag at higher tf.

Say I trade in 1H tf, the ema value of a previous 4H bar will not change, that is a technical fact, at least on mt4 charts. I'm suggesting that data is useful that's all. It is not even an opinion.
OK...that's a trader's interpretation of the MAs...nothing wrong with that and no doubt it could work for some...

but what I was talking about is how MA values are produced and they are based on past data which necessarily makes them lagging...even the candlestick example you mentioned is lagging it's based on what happened in the past...

We have to differentiate here between

1) the data/facts we have objectively
2) how a trader interprets and uses those facts subjectively
Hear the music before the song is over ...
  • #252,263
  • Sep 10, 2010 8:25am Sep 10, 2010 8:25am
Quoting GlobalMacro
It's not about being right or wrong...

Mathematically MA-construction is a laggard...

But if you have found something interesting and you're willing to share I'd be happy to learn about it...there is nothing wrong about that now, is it?
If we back to December 2009 u told me so when i post chart with my MA sell@ 1.6350

Now if i post my chart again u will say the same but any way everyone trade what suitable to him and trading like finger print so no strange to see A lot of different view about one thing.

I use MA on daily since 2008 and it work so far to Me.
  • #252,264
  • Sep 10, 2010 8:26am Sep 10, 2010 8:26am
Quoting disegnosys
Thanks for your comment.

There is a huge debate in the broker section on the new leverage, but I really think that the real reason for the leverage change started with the old "Farm" bill and now the detail in the new act putting some meat on the bones allowing the CFTC to regulate offshore brokers by stopping them from offering services to retailers in the US unless they meet CFTC requirements, the SEC has now been giving the mandate to enact a study to see if they can "police" non US banks and brokers, it is getting all a bit of a police/nanny state now.

It is just becoming a point scoring exercise trying to take the public opinion away from the real issues.
  • #252,265
  • Sep 10, 2010 8:27am Sep 10, 2010 8:27am
Quoting GlobalMacro
thanks dag...now it would be great if those were live quotes...
unfotunately 20 min. delay, reuters wants to get paid for live quotes
have to search further, but doubt to get free live service
  • #252,266
  • Sep 10, 2010 8:33am Sep 10, 2010 8:33am
Quoting cloggie
I sold the top, am not going to ignore range filling in the London session, that was my second trade of the day in Cable, am now waiting to see where the NY break is going to take us for my 3rd trade.

That is a big issue with most retailers: lack of patience. I can happily sit behind my screens not taking a trade for hours and just pass the time BS-ing here, lots of "newer" traders want to be in a trade all the time for fear of missing out, I just look for the higher probability ones and try to ignore the noise.
OK thanks for clearing that up. I am pretty patient nowadays but I find myself missing the real moves because I'm expecting something else to happen!

My bias was long here because oil and stocks were holding up so well. When price failed to break the range to the upside I wasn't even thinking to look for short opportunities! Hopefully with time and good advice like you've given today I can start playing ranges like you guys.
  • #252,267
  • Sep 10, 2010 8:37am Sep 10, 2010 8:37am
Quoting egkid
If we back to December 2009 u told me so when i post chart with my MA sell@ 1.6350

Now if i post my chart again u will say the same but any way everyone trade what suitable to him and trading like finger print so no strange to see A lot of different view about one thing.

I use MA on daily since 2008 and it work so far to Me.
They were lagging

in 509 B.C.,

in 2009,

is lagging now

and will be lagging in 3009...

The Mathematics will remain the same...

now it's a different story if it works for you or not...

we are talking about the nature of this indicator...nothing more, nothing less...
Hear the music before the song is over ...
  • #252,268
  • Sep 10, 2010 8:37am Sep 10, 2010 8:37am
Quoting Sutts
OK thanks for clearing that up. I am pretty patient nowadays but I find myself missing the real moves because I'm expecting something else to happen!

My bias was long here because oil and stocks were holding up so well. When price failed to break the range to the upside I wasn't even thinking to look for short opportunities! Hopefully with time and good advice like you've given today I can start playing ranges like you guys.

You have to be careful with getting married to your bias, equities were holding up as we are close to the open and the boys are looking sideways to see who flinches first, we have inventories news coming up in 20, that is always a good driver for equity prices as it reflects domestic production and consumption, uCAD has been rising steadily so longs were not in the cards really, I posted my view earlier to on how 5457 was holding nicely with a mini double top on the 5 that actually nicely turned into a triple with a flat peak on the 5, all the signals were there.
  • #252,269
  • Sep 10, 2010 8:38am Sep 10, 2010 8:38am
Stocks and oil breaking lower now while uCAD and Dix soars. Hoping for a break below the NY range.
  • #252,270
  • Sep 10, 2010 8:39am Sep 10, 2010 8:39am
Quoting Sutts
Stocks and oil breaking lower now while uCAD and Dix soars. Hoping for a break below the NY range.

You got it, I am anticipating a range to form though from 5380-5411, which could well tighten to 5380-5400
  • #252,271
  • Sep 10, 2010 8:41am Sep 10, 2010 8:41am
Quoting cloggie
You have to be careful with getting married to your bias, equities were holding up as we are close to the open and the boys are looking sideways to see who flinches first, we have inventories news coming up in 20, that is always a good driver for equity prices as it reflects domestic production and consumption, uCAD has been rising steadily so longs were not in the cards really, I posted my view earlier to on how 5457 was holding nicely with a mini double top on the 5 that actually nicely turned into a triple with a flat peak on the 5, all...
well...you have to be careful with getting married...period...
Hear the music before the song is over ...
  • #252,272
  • Sep 10, 2010 8:41am Sep 10, 2010 8:41am
Quoting cloggie
There is a huge debate in the broker section on the new leverage, but I really think that the real reason for the leverage change started with the old "Farm" bill and now the detail in the new act putting some meat on the bones allowing the CFTC to regulate offshore brokers by stopping them from offering services to retailers in the US unless they meet CFTC requirements, the SEC has now been giving the mandate to enact a study to see if they can "police" non US banks and brokers, it is getting all a bit of a police/nanny state now.

It is just...

Cloggie,

Thanks once again, i'm done for the week achieved 2% (demo) everyday this week few newbie errors that could have seen me gain more, but hey, I am only learning and still hoping to remove the emotion from my game !!

hope you all have a good weekend, I find it's always easier when you have a good friday !!

need more attention to detail on S/R & TL but hey we can't all be perfect.

Good luck to all, see you all sunday night / monday morning.

Rob.
  • #252,273
  • Sep 10, 2010 8:41am Sep 10, 2010 8:41am
Quoting GlobalMacro
OK...that's a trader's interpretation of the MAs...nothing wrong with that and no doubt it could work for some...

but what I was talking about is how MA values are produced and they are based on past data which necessarily makes them lagging...even the candlestick example you mentioned is lagging it's based on what happened in the past...

We have to differentiate here between

1) the data/facts we have objectively
2) how a trader interprets and uses those facts subjectively
Almost all strategies I see commonly use are base on past information. Price action, trendlines, divergence, pivots, s/r, opening price, etc.

The important thing is to see things most other trader sees, that's how MAs are useful.
  • #252,274
  • Sep 10, 2010 8:44am Sep 10, 2010 8:44am
Quoting trending
Almost all strategies I see commonly use are base on past information. Price action, trendlines, divergence, pivots, s/r, opening price, etc.

The important thing is to see things most other trader sees, that's how MAs are useful.
I don't disagree...
Hear the music before the song is over ...
  • #252,275
  • Sep 10, 2010 8:46am Sep 10, 2010 8:46am
Hi,
Hope everyone is doing great.

Well here is my analysis. I want start by letting you know (if you haven't already guessed it) that I am new. I see improvement in myself as time goes by. With that said, criticism is very welcome.

ok so I had a position on cable at 5446. But price was really struggling at that area which got me nervous so I closed at break even.

Now I am looking to buy. I want to place a buy order around the area I have 'circled'. In my opinion, that is a risky buy so I don't really intend to hold it for long. If price makes it to the lowest line (534X), then I will be looking to a bigger position and target would be 556X.

What do you think?


PS: I want to thank all members that contribute positively to this thread. Certainly learning a lot.
Attached Image (click to enlarge)
Click to Enlarge Name: GU.GIF Size: 25 KB
  • #252,276
  • Sep 10, 2010 8:48am Sep 10, 2010 8:48am
Good day to you,

Some very important resistance levels has got price pinned. Picture changed quite quickly. ( and could change back just as quick)

1.5428
1.5472

We may soon be on our way... The average price of the last 12 (4hr) bars gives us a strong angle line running south, which price is still respecting in terms of behaviour (sitting smack bang) - projected to 1.4980 / 1.4970 towards end September, should price and time ratio continue as per the last 48hr period pattern.

Worth a shot here... Entered @ 1.5401 with SL 1.5436 - just above the weekly open of 1.5430. If this one fails, I will be out till Monday.

Trade well and enjoy your weekend

Regards
Attached Image (click to enlarge)
Click to Enlarge Name: gu7.gif Size: 29 KB
  • #252,277
  • Sep 10, 2010 8:48am Sep 10, 2010 8:48am
Quoting cloggie
You have to be careful with getting married to your bias, equities were holding up as we are close to the open and the boys are looking sideways to see who flinches first, we have inventories news coming up in 20, that is always a good driver for equity prices as it reflects domestic production and consumption, uCAD has been rising steadily so longs were not in the cards really, I posted my view earlier to on how 5457 was holding nicely with a mini double top on the 5 that actually nicely turned into a triple with a flat peak on the 5, all the signals...
Will learn from this. Much appreciated.
  • #252,278
  • Sep 10, 2010 8:51am Sep 10, 2010 8:51am
Quoting cloggie
I sold the top, am not going to ignore range filling in the London session, that was my second trade of the day in Cable, am now waiting to see where the NY break is going to take us for my 3rd trade.

That is a big issue with most retailers: lack of patience. I can happily sit behind my screens not taking a trade for hours and just pass the time BS-ing here, lots of "newer" traders want to be in a trade all the time for fear of missing out, I just look for the higher probability ones and try to ignore the noise.
Very true... I was like that for SOOOO long and still find myself sometimes getting withdrawal symptoms...

Cloggs, got in on break of DP today but did 3 times my normal position but still got s/l at 10 pips(risking 4%) and caught 25 pips thats 10% quick quick...

Anyways, seeing that the range scalping you sometimes do really becomes profitable if the range is well set and you can read the signs...

thanks again...
@pawpaw1000 on Twitter
  • #252,279
  • Sep 10, 2010 8:51am Sep 10, 2010 8:51am
Quoting GlobalMacro
They were lagging

in 509 B.C.,

in 2009,

is lagging now

and will be lagging in 3009...

The Mathematics will remain the same...

now it's a different story if it works for you or not...

we are talking about the nature of this indicator...nothing more, nothing less...
You cannot be knocking the MA system. It's the holy grail mate
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #252,280
  • Sep 10, 2010 8:56am Sep 10, 2010 8:56am
Quoting Bull_Bear
You cannot be knocking the MA system. It's the holy grail mate
like I said MAs are very tempting...
now we're damn lucky we don't live in the middle ages, you know what they did back then...
Hear the music before the song is over ...
353 traders viewing now