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Cable Update (GBPUSD)

  • #255,221
  • Sep 22, 2010 5:31pm Sep 22, 2010 5:31pm
Symmetrical triangle in an uptrend perhaps?

The daily held some resistance, but the hourly says symmetrical triangle up.

Aslo daily looks hammerish but its not good enough, so I would think we see a test of 714.

however i really dont wanna call it.

For me i would wait for a clearer day.

This is only a 50% trade.

We want 60% and up.

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  • #255,222
  • Sep 22, 2010 5:31pm Sep 22, 2010 5:31pm
Quoting need-help
Hi,
I don't really use ema's hence I am unable to interpret your chart. Could you please elaborate?

Thanks
Works the same as the lines that you drew on the chart.

IF you see the 2x this area was attacked and defended...if support holds, we move up, if it fails, support will become resistance.
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  • #255,223
  • Sep 22, 2010 5:36pm Sep 22, 2010 5:36pm
Quoting Magix
GU M15, Seems to line up nicely with the 200EMA....

Magix man!

Is the 200 ema on your chart the yellow line?

And are you saying you see the trend up?

Although there's both buy and sell signals on either side.

Because we don't wanna predict, we want to react.
  • #255,224
  • Sep 22, 2010 5:38pm Sep 22, 2010 5:38pm
Quoting Magix
Works the same as the lines that you drew on the chart.

IF you see the 2x this area was attacked and defended...if support holds, we move up, if it fails, support will become resistance.

magix, would you reccomend me putting the 200ema on my hrly chart and 15min?

I currently dont use it, but I remember that heard it was the best ema to use.
  • #255,225
  • Sep 22, 2010 5:41pm Sep 22, 2010 5:41pm
Quoting alex1976
Magix man!

Is the 200 ema on your chart the yellow line?

And are you saying you see the trend up?

Although there's both buy and sell signals on either side.

Because we don't wanna predict, we want to react.
Yes, 200EMA=Yellow line.

I see it like this alex...

So far, every-time we have hit that line, the size of the bounce off of it seems to be getting weaker. That doesn't mean I am going to assume that price will bounce again, it just means that if the trend takes me there, I will hold my trade until I see a reason not to.

No prediction, just saying that line has seemingly been a magnet today.

Now, as I watch multiple pairs, they seem to be a bit of a conflict...GJ has hit 4hr 200EMA and bounced...but seems to be on a bit of a slide currently. EU/EG have topped the charts and need to do a 5m retrace.

So, will cable get strength from GJ playing hard and fast?
Will GJ actually bounce on the next round?
Will GU lose strength with EU?

Hey, just observations, I know what I am thinking, but will play the charts as they present...

GJ H4.
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  • #255,226
  • Edited 5:50pm Sep 22, 2010 5:42pm | Edited 5:50pm
Did you take any?
from M1 200 Ema target m15 and m30 area...


200 Ema Is my Money line..
We cannot direct the winds but we can adjust our sail.
  • #255,227
  • Sep 22, 2010 5:44pm Sep 22, 2010 5:44pm
Quoting alex1976
magix, would you reccomend me putting the 200ema on my hrly chart and 15min?

I currently dont use it, but I remember that heard it was the best ema to use.
Have a poke over to my thread alex, or stop over and see Turveys writings on the value of the 200EMA. Turvey plays that bitch on a 20 second chart, I use it on all time frames.

It is one of the tools in my tool box alex, but several get by well enough without it.

Add it, see if you see how it plays, if does nothing, really have lost nothing...

The most attacked 200EMA is on the M1, and the M5, of course the 2 shortest time frames.

I watch and trade those the most and keep the others in mind. They are my money lines. The hulls tells me direction, the 200s show me support and resistance.

Meh...it really is just another way to gauge direction, and does have its merits as an SR line.
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  • #255,228
  • Sep 22, 2010 5:46pm Sep 22, 2010 5:46pm
Quoting Magix
Yes, 200EMA=Yellow line.

I see it like this alex...

So far, every-time we have hit that line, the size of the bounce off of it seems to be getting weaker....

that's why i said I thought this was 50/50 day, as the technical s are not the strongest.
  • #255,229
  • Sep 22, 2010 5:48pm Sep 22, 2010 5:48pm
Quoting Magix
Have a poke over to my thread alex, or stop over and see Turveys writings on the value of the 200EMA....

interesting
  • #255,230
  • Sep 22, 2010 5:49pm Sep 22, 2010 5:49pm
Quoting posterboy
Did you take any?
from M1 200 Ema target m15 and m30 area...


200 Ema Is my Money line..
I'm always looking for a take pb...

Check out the 200 on all 4 majors. Resistance on GJ, showing as a target or support line on the 3 others.

5m charts.
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  • #255,231
  • Sep 22, 2010 5:53pm Sep 22, 2010 5:53pm
magix, is it better to sell below the 200 ema vs the tom demark trendline?
  • #255,232
  • Sep 22, 2010 5:54pm Sep 22, 2010 5:54pm
I have 2 shorts EU And gbp all target m15 moneyline or Pa will tell the story
Quoting Magix
I'm always looking for a take pb...

Check out the 200 on all 4 majors. Resistance on GJ, showing as a target or support line on the 3 others.

5m charts.
We cannot direct the winds but we can adjust our sail.
  • #255,233
  • Sep 22, 2010 5:55pm Sep 22, 2010 5:55pm
Damn i am certainly going to read up on it

Thanks

Quoting Magix
Works the same as the lines that you drew on the chart.

IF you see the 2x this area was attacked and defended...if support holds, we move up, if it fails, support will become resistance.
Does anybody here trade the mega phone pattern?
Thanks

Edit:
Very tempted to buy here at 45
  • #255,234
  • Sep 22, 2010 6:00pm Sep 22, 2010 6:00pm
Quoting alex1976
magix, is it better to sell below the 200 ema vs the tom demark trendline?
Think of them as then same if you choose to apply them...again, just another way of determining support and resistance.

I use a term called a Sherpa. <-use the search feature to find the description of this one in the cable thread.

No new high or no new low created on a touch, we see a sherpa.

Each time that line gets attacked, the more likely it is to be pounded through.

Keep in mind, unless you watch all of the time frames, it's impossible to know exactly where all of them are.

I watch the 200 on all pairs, for all time frames. For all templates I use, I have this line applied and check and recheck.

Impossible to catch all plays, these lines just make it so I keep on the right side of things.

My 1m chart I use to determine daily trend...uses a 1m and 5m, yellow for 1m green for 5m, 200 ema. If yellow is above green, we long chart, if yellow is below green, we short chart.

IF the lines are criss crossing with no respect for anything, I throw away the longer charts and trade off the 1m.
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  • #255,235
  • Sep 22, 2010 6:05pm Sep 22, 2010 6:05pm
Quoting posterboy
I have 2 shorts EU And gbp all target m15 moneyline or Pa will tell the story
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  • #255,236
  • Sep 22, 2010 6:15pm Sep 22, 2010 6:15pm
please ! you said a post b4 to a dude You use 2 200 emas on a single chart yellow for m1 green for m5 ..i tried that on my chart it changing colours only on all time frames fiddle in properties of ems visual still same guide me please

(You quoted)

My 1m chart I use to determine daily trend...uses a 1m and 5m, yellow for 1m green for 5m, 200 ema. If yellow is above green, we long chart, if yellow is below green, we short chart.
We cannot direct the winds but we can adjust our sail.
  • #255,237
  • Sep 22, 2010 6:28pm Sep 22, 2010 6:28pm
Hey Magix, I was just wondering if you use an indicator for your strength and resistance lines, or are you just drawing them in? If you are using a indy, could you point me in the direction of the one you use? Thanks in advance.
  • #255,238
  • Sep 22, 2010 6:35pm Sep 22, 2010 6:35pm
Quoting posterboy
please ! you said a post b4 to a dude You use 2 200 emas on a single chart yellow for m1 green for m5 ..i tried that on my chart it changing colours only on all time frames fiddle in properties of ems visual still same guide me please

(You quoted)

My 1m chart I use to determine daily trend...uses a 1m and 5m, yellow for 1m green for 5m, 200 ema. If yellow is above green, we long chart, if yellow is below green, we short chart.
Try this....

http://www.forexfactory.com/showpost...stcount=247040





Quoting Nate04
Hey Magix, I was just wondering if you use an indicator for your strength and resistance lines, or are you just drawing them in? If you are using a indy, could you point me in the direction of the one you use? Thanks in advance.
Not sure which ones yer talking bout Nate....I got a zillion friggen charts man, help me out here!

lol
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  • #255,239
  • Sep 22, 2010 6:52pm Sep 22, 2010 6:52pm
Quoting Magix

Not sure which ones yer talking bout Nate....I got a zillion friggen charts man, help me out here!

lol
Hope this helps. Thanks again.
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  • #255,240
  • Sep 22, 2010 6:55pm Sep 22, 2010 6:55pm
Quoting Nate04
Hope this helps. Thanks again.
Ah....

#KG Support and Resistance....

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