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Cable Update (GBPUSD)

  • #257,641
  • Sep 30, 2010 5:15pm Sep 30, 2010 5:15pm
We went from bullish just yesterday to extremely bearish. This all happened from his speech? What are the details he said.
  • #257,642
  • Sep 30, 2010 5:33pm Sep 30, 2010 5:33pm
Quoting primzvicious
http://www.forexfactory.com/attachme...3&d=1285850484

just wake up and she bounce as expected
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Verily, in every difficulties there is relief
  • #257,643
  • Sep 30, 2010 6:04pm Sep 30, 2010 6:04pm
Quoting The Captain
Anytime there is a big obvious TL like this it will slow price down.

Therefore, the argument instead should be: 1st TL broken, now 2nd TL must break to continue bull move.
exactly.
check out my blog: forexmademillionaire dot com
  • #257,644
  • Sep 30, 2010 6:08pm Sep 30, 2010 6:08pm
I don't mean to spoil the confidence in the bear camp, but have you guys all looked at this trend channel? I'm not convinced to the short side until we breach and convincingly hold below 1.5650 at a minimum.
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check out my blog: forexmademillionaire dot com
  • #257,645
  • Sep 30, 2010 6:30pm Sep 30, 2010 6:30pm
Quoting Geppy
I don't mean to spoil the confidence in the bear camp, but have you guys all looked at this trend channel? I'm not convinced to the short side until we breach and convincingly hold below 1.5650 at a minimum.
This is a man who knows how to read a chart. I prefer the line drawn from the low wick just to the right of where you have it.. but another good eye on it for sure.

Take notice people: candles and lines is all you need!! see: wormboy. Throw in a few MA's and something for divergence if you wish, and you can call yourself a trader!
Cap
  • #257,646
  • Edited 6:43pm Sep 30, 2010 6:41pm | Edited 6:43pm
Quoting The Captain
This is a man who knows how to read a chart. I prefer the line drawn from the low wick just to the right of where you have it.. but another good eye on it for sure.

Take notice people: candles and lines is all you need!! see: wormboy. Throw in a few MA's and something for divergence if you wish, and you can call yourself a trader!

Ya, is it that simple? I like it simple. I can play a game like this. up's up and downs down.
But what about the entry? I'm thinking thats the true key to a good trade.

Thanks for the advice if you have some too.
  • #257,647
  • Sep 30, 2010 6:49pm Sep 30, 2010 6:49pm
I mean like, besides support and resistance, CCI, RSI and Macd ( all secondary indicators). Whats a good entry plan once you determine the trend?
  • #257,648
  • Sep 30, 2010 6:51pm Sep 30, 2010 6:51pm
Quoting cloggie
They are digital Samsungs in portrait mode driven of 2 Z600's with dual Quad I7's and dual NVDIA's with 32Gb of ram each. And I run dual SQL servers for datafeed and currency correlation.
Always a pleasure to see serious people at work !
________________________________ Errare humanum est
  • #257,649
  • Sep 30, 2010 6:57pm Sep 30, 2010 6:57pm
Quoting Chillypiper
Ya, is it that simple? I like it simple. I can play a game like this. up's up and downs down.
But what about the entry? I'm thinking thats the true key to a good trade.

Thanks for the advice if you have some too.
You want some advice? We'll call this:

"Captains steps to success when you can't sit all day and watch a chart because you are pre-occupied with other things like serving your country"

Step 1: Plot trend lines (like I have been showing) on a 4 hour or daily chart using wicks and highs/lows not closing prices.

Step 2: When its coming from the bottom then click the sell button upon line touch, and when its coming from the top click the buy button. Put a SL about 30 pips on the other side of the line.

Step 3: If the daily trend is up then make your buy orders larger than your sell orders. If the daily trend is down make your sell orders larger than your buy orders.

Step 4: Use a logical TP. Use another trend line, S&R etc. Don't be afraid to let it run big if it's with the trend.

Step 5: Make pips while you are out working, sleeping, drinking and/or chasing women.
Cap
  • #257,650
  • Edited 7:15pm Sep 30, 2010 7:08pm | Edited 7:15pm
Quoting The Captain
You want some advice? We'll call this:

"Captains steps to success when you can't sit all day and watch a chart because you are pre-occupied with other things like serving your country"

Step 1: Plot trend lines (like I have been showing) on a 4 hour or daily chart using wicks and highs/lows not closing prices.

Step 2: When its coming from the bottom then click the sell button upon line touch, and when its coming from the top click the buy button. Put a SL about 30 pips on the other side of the line.

Step 3: If the daily trend is up then...
I must say sir, that is the best advice I think I've ever got. I'm to the point that once I think I have it figured out the market will spake me hard for a wake up.
I need to take profits when I can, and like you said " if it wants to run, let it run"

I also like the drunken and chasing part (LOL), not to mention I love my county too!

Cheers!
  • #257,651
  • Sep 30, 2010 7:21pm Sep 30, 2010 7:21pm
Quoting Chillypiper
I must say sir, that is the best advice I think I've ever got. I'm to the point that once I think I have it figured out the market will spake me hard for a wake up.
I need to take profits when I can, and like you said " if it wants to run, let it run"

I also like the drunken and chasing part (LOL), not to mention I love my county too!

Cheers!
I forgot to mention an important part. Repeat all the steps on every pair.

Cheers to you as well and all the best.
Cap
  • #257,652
  • Sep 30, 2010 8:05pm Sep 30, 2010 8:05pm
Quoting Chillypiper
I mean like, besides support and resistance, CCI, RSI and Macd ( all secondary indicators). Whats a good entry plan once you determine the trend?
Patience is the #1 key to trading after you have begun to identify exactly what you are doing...

Where does the money go?

Like Capn says...see if you can figure out the main trend, good place to start. Chart 1.

From there...1st. Plot this onto the shortest time frame that you can still see the movement of money. Are we at top, at bottom, moving up or moving down, yet to be determined. Chart 2.

2nd...well, just so you have an idea of this trend, throw on a moving average. A large one, pick one, anything that makes sense, call this your slow. The yellow line I have on my chart, is the 200EMA. Chart 3.

3rd...pick a faster moving average. The one I have in red, is the 24EMA. Why these...hey, use whatever you want, grab a hulls line if you choose...Chart 4.

4th...throw things into perspective...keep all the same on the chart, have a look at them and see whats really shaking. Fast EMA as your first line of support, if this fails, don't get caught holding your longs, watch for support from the trend. Watch for periods of resistance with your Slow moving average, keep this period in mind...

The larger shaded areas on the 6th chart...are buy and sell candles. If you can only be around for a short period of time, see where price is, take the trades in trend and cash out for whatever profits you are happiest with. IF things go against you...take a step back, wait for the next opportunity and take a ride.

Don't sweat a little loss, give your head a shake if you keep making the same mistakes. Not everybody plays by the same rules and the same clock, but if you have an idea of where we are in trend, where your support and resistance are, it's just a matter of pushing a button.

Follow the flow of the dough. You cannot contol the market and all the hopes and prayers in the world will not make you as successful as taking a minute to look at the chart.

Trade well!
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #257,653
  • Sep 30, 2010 8:22pm Sep 30, 2010 8:22pm
Quoting Magix
Patience is the #1 key to trading after you have begun to identify exactly what you are doing...

Where does the money go?

Like Capn says...see if you can figure out the main trend, good place to start. Chart 1.

From there...1st....

Bravo Magix man!

This is very concise and informative.

I like it
  • #257,654
  • Sep 30, 2010 8:24pm Sep 30, 2010 8:24pm
Quoting Magix
Patience is the #1 key to trading after you have begun to identify exactly what you are doing...

Where does the money go?

Like Capn says...see if you can figure out the main trend, good place to start. Chart 1.

From there...1st....

The 15 min chart is the best trigger chart
  • #257,655
  • Sep 30, 2010 8:29pm Sep 30, 2010 8:29pm
Quoting The Captain
You want some advice? We'll call this:

"Captains steps to success when you can't sit all day and watch a chart because you are pre-occupied with other things like serving your country"

Step 1: Plot trend lines (like I have been showing) on a 4 hour or daily chart using wicks and highs/lows not closing prices.

Step 2: When its coming from the bottom then click the sell button upon line touch, and when its coming from the top click the buy button. Put a SL about 30 pips on the other side of the line.

Step 3: If the daily trend is up then...
This method would have been a loss on gu this morning, pa pierced the tl by much more than 30 pips.

Of course no method is foolproof. What sort of winning % do you get?
  • #257,656
  • Sep 30, 2010 8:48pm Sep 30, 2010 8:48pm
Quoting ikdenk
This method would have been a loss on gu this morning, pa pierced the tl by much more than 30 pips.

Of course no method is foolproof. What sort of winning % do you get?
Would it have been a loss this morning? It appears that way but the 4 hour chart doesn't show the whole story. If you dial down to say a 5 minute chart you will see price bounced about 60 pips with a 5 pip drawdown.

As for win ratio, can't really say. Pretty high especially with the trend.
Cap
  • #257,657
  • Sep 30, 2010 9:58pm Sep 30, 2010 9:58pm
Quoting The Captain
You want some advice?...
nice one cap....
Enter Signature
  • #257,658
  • Sep 30, 2010 10:01pm Sep 30, 2010 10:01pm
Quoting Magix
Patience is the #1 key to trading after you have begun to identify exactly what you are doing...

Where does the money go?

Like Capn says...see if you can figure out the main trend, good place to start. Chart 1.

From there...1st....
thats something really helpful, thanks man....
Enter Signature
  • #257,659
  • Sep 30, 2010 11:02pm Sep 30, 2010 11:02pm
Whoooooo!
600 pips from cable in just 2 days.. wow! waiting for my next buy signal.. not too good trading today though.
  • #257,660
  • Sep 30, 2010 11:08pm Sep 30, 2010 11:08pm



rgds,iqyu

http://www.forexfactory.com/showpost...&postcount=687

Quoting pips stunner
Whoooooo!
600 pips from cable in just 2 days.. wow! waiting for my next buy signal.. not too good trading today though.
not euphoria follower
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