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Cable Update (GBPUSD)

  • #255,461
  • Sep 23, 2010 10:33am Sep 23, 2010 10:33am
Quoting Uphios
No..... BoE. Bank of England.
hahaha... WOW! I totally misread that. Feel free to disregard everything I said
check out my blog: forexmademillionaire dot com
  • #255,462
  • Sep 23, 2010 10:34am Sep 23, 2010 10:34am
an eg of what we know...cable pulls back off 5741 and finds support in the previous 1hr swing hi x 2 zone...(previous esistance becoming support)...see screenshot below....this is what we know...we can develop an edge from it

A quick handful of pips gain...(not waiting for follow thru to a new Hi this late in London session.)

http://www.easy-upload.net/fichiers/z.201092317324.gif

1min hidden divergence set-up was the trigger and osma (top oscillator-red) even gave an invereted H&S to boot!!



http://www.easy-upload.net/fichiers/...1092317366.gif
ex member
  • #255,463
  • Sep 23, 2010 10:39am Sep 23, 2010 10:39am
could it be cable is going to visit the grey zones; and guys do you often look at day charts for daytrading ?
Attached Image (click to enlarge)
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  • #255,464
  • Sep 23, 2010 10:45am Sep 23, 2010 10:45am
Quoting huskyboy
could it be cable is going to visit the grey zones; and guys do you often look at day charts for daytrading ?
I almost always trade off the 4 hour and daily charts with a 1 hour mixed in here and there.

Yes, I think we're headed to your "grey zone"... my target is currently set for 1.5900
check out my blog: forexmademillionaire dot com
  • #255,465
  • Sep 23, 2010 10:46am Sep 23, 2010 10:46am
Quoting Geppy
hahaha... WOW! I totally misread that. Feel free to disregard everything I said
No prob. On the BoJ side I pretty much agree with what you say. They are employing a form of QE, or devaluation because the currency strength is hurting them. Question is will they keep it up. They have tried this before and ended up giving up. I guess their resolve will be tested again soon.
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  • #255,466
  • Sep 23, 2010 10:46am Sep 23, 2010 10:46am
Price is going parabolic, shorters please continue shorting. The more the merrier. Thanks.
  • #255,467
  • Sep 23, 2010 10:49am Sep 23, 2010 10:49am
Quoting huskyboy
could it be cable is going to visit the grey zones; and guys do you often look at day charts for daytrading ?
I guess this answer will vary depending on the t/f you sue to take trades from...for me I have a 3 t/f approach, 1min is trigger, 5min is intermediate and trend t/f is 30min/1hr (they are so close) so I am interested in the overrall price action (opa) conditions on my intermed and trend t/f's and whether this is with or against 4hr +...to the extnet that the previous daily candle can be a good indicator of overral direction the next day, i do take notice of it, but the daily doesn't figure i my analysis for taking trades save for fibs/trend lines and previous swing hi/lo's on that t/f and where they co-exist on 1hr/4hr. I guess those on a 1hr and 4hr + trigger will take a lot more notice of it in respect of opa conditions.

G/L
ex member
  • #255,468
  • Sep 23, 2010 10:55am Sep 23, 2010 10:55am
Quoting Geppy
I almost always trade off the 4 hour and daily charts with a 1 hour mixed in here and there.

Yes, I think we're headed to your "grey zone"... my target is currently set for 1.5900
then you must be using large SL; lets say now GU is heading to those grey zones, first isn't it too late to get in now, second where do i have to put a SL.
  • #255,469
  • Sep 23, 2010 10:56am Sep 23, 2010 10:56am
Quoting huskyboy
could it be cable is going to visit the grey zones; and guys do you often look at day charts for daytrading ?
Hi bro
I'm interested in ur 3 Line red between 2 blue , is that BB Chanel or MA
Thanks

PS: Do u know trader call egy?
  • #255,470
  • Sep 23, 2010 10:57am Sep 23, 2010 10:57am
Quoting bbmac
I guess this answer will vary depending on the t/f you sue to take trades from...for me I have a 3 t/f approach, 1min is trigger, 5min is intermediate and trend t/f is 30min/1hr (they are so close) so I am interested in the overrall price action (opa) conditions on my intermed and trend t/f's and whether this is with or against 4hr +...to the extnet that the previous daily candle can be a good indicator of overral direction the next day, i do take notice of it, but the daily doesn't figure i my analysis for taking trades save for fibs/trend lines...
this is what i have been doing last days, but i never looked at daily; i do like your style off trading, mostly based on divergence i have noticed
  • #255,471
  • Sep 23, 2010 11:01am Sep 23, 2010 11:01am
Quoting egkid
Hi bro
I'm interested in ur 3 Line red between 2 blue , is that BB Chanel or MA
Thanks
all EMA 's 50 high close low
  • #255,472
  • Sep 23, 2010 11:02am Sep 23, 2010 11:02am
Couldn't resist another go...short ladder in place till tomorrow LO if neccessary
Attached Image (click to enlarge)
Click to Enlarge Name: QE2.jpg Size: 77 KB
  • #255,473
  • Sep 23, 2010 11:05am Sep 23, 2010 11:05am
Quoting huskyboy
all EMA 's 50 high close low
Thanks
  • #255,474
  • Sep 23, 2010 11:09am Sep 23, 2010 11:09am
Quoting chazzle
Couldn't resist another go...short ladder in place till tomorrow LO if neccessary
I know you're only going for 10-20 but don't you find it easier to go with the long side? Especially looking at that inverted H&S on your chart which if plays out will extend up above your top ladder rung.
  • #255,475
  • Sep 23, 2010 11:10am Sep 23, 2010 11:10am
Quoting huskyboy
then you must be using large SL; lets say now GU is heading to those grey zones, first isn't it too late to get in now, second where do i have to put a SL.
My stops are rarely more than 100 pips and often times somewhere between 50 and 100 pips.

I really don't like giving advice on trades... especially intra-trade advice. But to answer you as best as possible: no, it's not too late to get in, but try and do it on a pull-back (even if it's only to just below 1.5700 or so. Stops depend on your risk tolerance but I almost never have a target:stop (profit:loss) ratio of 2:1, meaning my target is nearly at least more than twice what I'm willing to lose. So... if you believe we're going to 1.5900 and can get in at 1.5700 then a 1.5600 stop is reasonable. Considering we couldn't push below 1.5600 last night (and let me tell you I was waiting for it to happen), I'd say this is a pretty good area for a stop. Also, I always move my stop up a little bit on a discretionary basis as my trade moves in my direction in order to take some risk off the table.

I hope that helps.
check out my blog: forexmademillionaire dot com
  • #255,476
  • Sep 23, 2010 11:14am Sep 23, 2010 11:14am
Quoting uksnowman
I know you're only going for 10-20 but don't you find it easier to go with the long side? Especially looking at that inverted H&S on your chart which if plays out will extend up above your top ladder rung.
Thats a very good point-I don't know what to say,lol
  • #255,477
  • Sep 23, 2010 11:14am Sep 23, 2010 11:14am
Hi have anyone seen Global Macro lately?
  • #255,478
  • Sep 23, 2010 11:16am Sep 23, 2010 11:16am
Quoting Geppy
My stops are rarely more than 100 pips and often times somewhere between 50 and 100 pips.

I really don't like giving advice on trades... especially intra-trade advice. But to answer you as best as possible: no, it's not too late to get in, but try and do it on a pull-back (even if it's only to just below 1.5700 or so. Stops depend on your risk tolerance but I almost never have a target:stop (profit:loss) ratio of 2:1, meaning my target is nearly at least more than twice what I'm willing to lose. So... if you believe we're going to 1.5900...

Thanks a lot
  • #255,479
  • Sep 23, 2010 11:18am Sep 23, 2010 11:18am
Quoting bonus76
Hi have anyone seen Global Macro lately?

no, 2-3 weeks not seen,
also miss his analysis

GM were are you?
  • #255,480
  • Sep 23, 2010 11:21am Sep 23, 2010 11:21am
Quoting Geppy
My stops are rarely more than 100 pips and often times somewhere between 50 and 100 pips....
Another point
I start to LV U, Ur reading my mind i wait to add another position in next few H
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