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Cable Update (GBPUSD)

  • #253,181
  • Sep 15, 2010 3:21am Sep 15, 2010 3:21am
Quoting autopips
Hey Adrian,

Would you mind explaining how your correlation trades work - what specific things are you looking for to determine trade entry and exit?
Hiya

It has taken me nearly 6 months to learn and I'm still learning, although I did have the help of a very good 'tutor' (Paid for) it's not something that you can learn or write about in a short reply. Wish I could, love helping others.
If your really interested send me a pm and I'll give the details of where I 'learnt or more too the point am learning from'...
  • #253,182
  • Sep 15, 2010 3:24am Sep 15, 2010 3:24am
Quoting Neller
I dont post very often and sorry if my english is not the best it is not my first language....

Morning, Neller

Great post!

Ps - your English is just fine!
  • #253,183
  • Sep 15, 2010 3:26am Sep 15, 2010 3:26am
Quoting Precap2
News is nuisance. Don't give back what you have already made. I don't trade news anyway, I avoid it. Any news including the almighty NFP. As a matter of fact on NFP days I reduce my lot size to 30%, and generally I trade half my normal lot size on Fridays.
Hope this helps. Good luck

Yes, thank you, it really does help. Will continue my steering clear strategy!

Have a great day!
  • #253,184
  • Sep 15, 2010 3:27am Sep 15, 2010 3:27am
Quoting Delite
Morning, Neller

Great post!

Ps - your English is just fine!
Yup fully agree wholeheartedly, although there is quite a lot we can all learn here on the forum as well though. If we are sensible.
  • #253,185
  • Sep 15, 2010 3:29am Sep 15, 2010 3:29am
Quoting AdrianHNV
Yup fully agree wholeheartedly, although there is quite a lot we can all learn here on the forum as well though. If we are sensible.

Oh for sure. I have learned so much from people here - I will always be grateful for those who take the time to explain and add to others' knowledge.
  • #253,186
  • Sep 15, 2010 3:30am Sep 15, 2010 3:30am
+25 +20

Failure at ST resistance level as indicated on chart , news coming up , new entries almost guaranteed later during the trading session , position flat.
Attached Image (click to enlarge)
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" Never let the past hold the future to ransom "
  • #253,187
  • Sep 15, 2010 3:31am Sep 15, 2010 3:31am
closed position for +20 pips after bad Uk data
  • #253,188
  • Sep 15, 2010 3:36am Sep 15, 2010 3:36am
Quoting Alexbabwa
closed position for +20 pips after bad Uk data
To be expected with anti-QE, although not bad for currency perse....
Don't be a hero. Don't have an ego. Always question yourself
  • #253,189
  • Sep 15, 2010 3:43am Sep 15, 2010 3:43am
Sorry guys - another question for you.

Re support and resistance. I know you use the higher t/f to plot the most signigicant S & R levels (down to H1?) But there will be intraday levels which appear on lower t/fs. My question is how long do these lower levels remain valid?

Does that make sense?
  • #253,190
  • Sep 15, 2010 3:47am Sep 15, 2010 3:47am
love the queen and nothing match fiber with honey
  • #253,191
  • Sep 15, 2010 3:48am Sep 15, 2010 3:48am
Quoting dag777
nice prediction Temps,
i also took pipchick´s short late us session but was out before asia open,
have a nice trading

Nice Trade....

We seem to be retesting the trendline break from yesterday.
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  • #253,192
  • Sep 15, 2010 3:53am Sep 15, 2010 3:53am
Quoting Delite
Sorry guys - another question for you.

Re support and resistance. I know you use the higher t/f to plot the most signigicant S & R levels (down to H1?) But there will be intraday levels which appear on lower t/fs. My question is how long do these lower levels remain valid?

Does that make sense?
depends on the way you like to trade.
If you have a more longer term view, daily or even weekly levels dominate.
Assume You have a long bias and no position, longer TF's are bullish but below H1 are bearish, one could wait for those shorter TF's to initiate a long.
Assume You have a long bias and a position I wouldn't trade intraday levels on short TF's.
But if you want to be a day-trader story would be quite different, more knowledgeable people here could better advise....
Don't be a hero. Don't have an ego. Always question yourself
  • #253,193
  • Sep 15, 2010 3:53am Sep 15, 2010 3:53am
Quoting Gleneagles
+36
Hi Gleneagles,

Would you mind telling me the reasons for that second dustbin trade please? (the short). Was it the dark cloud cover on the M15/M30, the fact that we were in the Frankie reversal zone or something else?

Of course I went long here LOL. Just trying to learn.

Thanks
  • #253,194
  • Sep 15, 2010 3:53am Sep 15, 2010 3:53am
Quoting Delite
Sorry guys - another question for you.

Re support and resistance. I know you use the higher t/f to plot the most signigicant S & R levels (down to H1?) But there will be intraday levels which appear on lower t/fs. My question is how long do these lower levels remain valid?

Does that make sense?
In my experience I use the 1hr + previous obvious near-term fractal swing hi / lo areas to determine previous near-term obviouis imbalances of supply/demand as the 1hr + is where the bigger money (that moves the market) tens to operate...Yes there re also obvious 5min/15min such areas but these tend not to be as reliable for the reason statewd above...the exception to this for me is that I will look for previous 5/15min swing hi/lo zones that may act as potential rbs/sbr zones on any pullback rettest in a trend for a further leg up/down respectively-entry timed on t/f below. For me, the more times such an area is hit the weaker it becomes in respect of potential supp/res (particularly if HL leading up to a potential res area and LH leading down to a potential supp area,) but the stronger it becomes if/when broken to down/upside resepctively in it's ability to act as sbr/rbs respectively in any trend pullback and re-test.

Hope this makes sense.

G/L
ex member
  • #253,195
  • Sep 15, 2010 3:54am Sep 15, 2010 3:54am
Quoting kill56
love the queen and nothing match fiber with honey
Well the 'nectar is there', just have to know how to dig it out
  • #253,196
  • Sep 15, 2010 3:55am Sep 15, 2010 3:55am
Quoting Delite
Sorry guys - another question for you.

Re support and resistance. I know you use the higher t/f to plot the most signigicant S & R levels (down to H1?) But there will be intraday levels which appear on lower t/fs. My question is how long do these lower levels remain valid?

Does that make sense?
All support and resistance are valid at any time. Intraday support and resistance are still the building blocks of the ones for longer TF. That's why TLs are still respected after one year of plotting it.
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #253,197
  • Sep 15, 2010 3:55am Sep 15, 2010 3:55am
Long term, if dollar index breaks further south below 80 for h&s, then i'm very bullish on gbp. Or pratically anything against the dollar.

Quoting snusnufreak
any long-term GU thoughts, anybody?

I'm up biased in mind as per pic

regards,
snu
Attached Image
  • #253,198
  • Sep 15, 2010 3:57am Sep 15, 2010 3:57am
My Holy Grail is saying if we close below 5500, we head for 5442 area. Are you there?
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #253,199
  • Sep 15, 2010 4:02am Sep 15, 2010 4:02am
Quoting Precap2
My Holy Grail is saying if we close below 5500, we head for 5442 area. Are you there?
Is that the same holy Grail that said 1.5486 was the high for this week?
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  • #253,200
  • Sep 15, 2010 4:03am Sep 15, 2010 4:03am
bbmac - yes it makes perfect sense. Thanks for taking the time.

Precap2 - thanks also!
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