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Cable Update (GBPUSD)

  • #260,101
  • Oct 12, 2010 4:34pm Oct 12, 2010 4:34pm
Quoting Pipwanderer
What do you think about shorting the pound.. it is screaming and yelling for shorts
I got 2 reasons to not hop into anything longer then a scalp short right now on cable...

1 daily pivot @ 1.5826,
2 we have not touched the 5m 200 yet.

Not saying that if the fit hits the shan I won't be in on a trade, just saying that I will be watching those areas like a hawk if we get there.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #260,102
  • Oct 12, 2010 4:39pm Oct 12, 2010 4:39pm
Quoting Magix
I got 2 reasons to not hop into anything longer then a scalp short right now on cable...

1 daily pivot @ 1.5826,
2 we have not touched the 5m 200 yet.

Not saying that if the fit hits the shan I won't be in on a trade, just saying that I will be watching those areas like a hawk if we get there.
I thought the 200 ema works better on a larger time frame. It works for you either way..? i usually use that on my daily charts as milestones. Does it work for you?
  • #260,103
  • Oct 12, 2010 4:41pm Oct 12, 2010 4:41pm
Quoting Pipwanderer
I thought the 200 ema works better on a larger time frame. It works for you either way..? i usually use that on my daily charts as milestones. Does it work for you?
I use it for all charts, all pairs, all time frames, see previous charts.

GJ, EJ, GU, EU.

Line shows up on all of em.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #260,104
  • Oct 12, 2010 4:42pm Oct 12, 2010 4:42pm
Quoting Magix
All TFS....

Throw you a couple charts below, check out their respective time frames, see where my targets are.

Typically the 1m and the 5m are your money lines, as they are the 2 that will be challenged for support or resistance daily, but is also important to watch them on all TFs to see targets...

I took the long on EU last night at it's hourly 200...still holding.

The Yellow line is the 200EMA....

interesting
  • #260,105
  • Oct 12, 2010 4:56pm Oct 12, 2010 4:56pm
Quoting alex1976
interesting
Here is a tpl and the indies I use...(previous couple charts)

IF you toggle through the time frames, from 1m through to H4, you will see how the lines show up. Yellow will always be the 200EMA, the white will be from the TF prior. Red line on 1m charts is the 1000EMA, or what would be the 5m 200EMA on a 1m chart.

These are Renko charts, I posted the link to Petar Serbias thread for reference...HERE.

Something to play with between now and price action...

Attached File(s)
File Type: zip renko.zip   28 KB | 398 downloads
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #260,106
  • Oct 12, 2010 4:56pm Oct 12, 2010 4:56pm
[quote=Magix;4091507]All TFS....

Throw you a couple charts below, check out their respective time frames, see where my targets are.

This issue intrigues me too Magix and I'm too simple minded to understand.
I take it (or lets assume) you are you are searching for a possible short entry.
200 EMA for 5M is lets say 1.5825
200 EMA for H1 is lets say 1.5860
What is if we look at EMA trigger the reason you decide to prefer 1.5825 above 1.5860 or the other way around?
Is it current PA, like if it stalls at 1.5825 that's the trigger otherwise if it stalls at 1.5860 that's the trigger?
Don't be a hero. Don't have an ego. Always question yourself
  • #260,107
  • Oct 12, 2010 5:07pm Oct 12, 2010 5:07pm
[quote=USD-Bear;4091539]
Quoting Magix
All TFS....

Throw you a couple charts below, check out their respective time frames, see where my targets are.

This issue intrigues me too Magix and I'm too simple minded to understand.
I take it (or lets assume) you are you are searching for a possible short entry.
200 EMA for 5M is lets say 1.5825
200 EMA for H1 is lets say 1.5860
What is if we look at EMA trigger the reason you decide to prefer 1.5825 above 1.5860 or the other way around?
Is it current PA, like if it stalls at 1.5825 that's the trigger otherwise...
Though I toggle between the different time frames bear, the 1 and 5 are my trigger lines.

Lets look at the 4 majors right now.

5m chart, all sitting on or about at their white line, ie, 200EMA on 1m...

Support line. IF they hold support, they move to resistance...where is resistance??? 5m on the GBP charts. EG is playing bullish right now, so expectations based on this are that GBP will sell faster, EUR will buy stronger but they will all typically move in the same direction at the same time, just not as hard and fast, EUR can help me find support and GBP will show me topside resistance.

Just another way to see the same PA...

The hourly bounce on EU that I took last night, I had been talking about and selling into since Thursday of last week....Didn't know where the line was going to be when we got there, just knew we were going to get there. H1 Resistance could prove the end of the EUR rule when EJ gets there if not send the JPY pairs to hell, or EJ to trace the H4 200...

Confused?

Pshhhhhhh, welcome to my world.

Buwahahhahahahhahahah
Attached Image (click to enlarge)
Click to Enlarge Name: all42.jpg Size: 175 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #260,108
  • Oct 12, 2010 5:17pm Oct 12, 2010 5:17pm
[quote=Magix;4091553]
Quoting USD-Bear

Though I toggle between the different time frames bear, the 1 and 5 are my trigger lines....
lol, I think I might get the idea but I'm to tired to dig into it, will be studying it in the morning, thanks a lot and good night.
Don't be a hero. Don't have an ego. Always question yourself
  • #260,109
  • Oct 12, 2010 5:41pm Oct 12, 2010 5:41pm
Quoting Magix

Red line on 1m charts is the 1000EMA, or what would be the 5m 200EMA on a 1m chart.

Hi Magix - hope you're well...I have to say the above is a great idea,as I only use 200 ema would be easy to do and not too confusing on the chart.I'm gonna play around with this and see what I can do...
  • #260,110
  • Oct 12, 2010 5:44pm Oct 12, 2010 5:44pm
[quote=USD-Bear;4091564]
Quoting Magix

lol, I think I might get the idea but I'm to tired to dig into it, will be studying it in the morning, thanks a lot and good night.
Did you guys hear that noise its the Engines reving up for the GBP/USD Flight 1.61 getting ready for TAKEOFF!
  • #260,111
  • Oct 12, 2010 5:52pm Oct 12, 2010 5:52pm
Quoting chazzle
Hi Magix - hope you're well...I have to say the above is a great idea,as I only use 200 ema would be easy to do and not too confusing on the chart.I'm gonna play around with this and see what I can do...
Believe me chaz,

I make trading a lot harder then it has to be....



Simplicity really is a good place to be, just with movement on 4 pairs, you can sometimes find a runner when cable sits in a rut....

Money Management is always key to trading, targets help out with profit taking, active sessions makes sure you can cover the spread without guessing, and consistency is your key to longevity.

Trade well brother.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #260,112
  • Oct 12, 2010 5:58pm Oct 12, 2010 5:58pm
[quote=Allseeingeye;4091592]
Quoting USD-Bear
Did you guys hear that noise its the Engines reving up for the GBP/USD Flight 1.61 getting ready for TAKEOFF!
I think the usd is poised for a little more of a beat down, chart shows LTL a little further to the south-side...but market keeps its own clock.

For now, I would rather be all non committed to a long-side until I see need...A fairly convincing down day for cable, possible that we have found support for that last run up, but time will be the teller.
Attached Image (click to enlarge)
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #260,113
  • Oct 12, 2010 5:59pm Oct 12, 2010 5:59pm
I am getting out of my long now my channel broke , I am looking for a short entry
Attached Image (click to enlarge)
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  • #260,114
  • Oct 12, 2010 6:04pm Oct 12, 2010 6:04pm
Papas got a brand new trendline starting to go long 15812
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  • #260,115
  • Oct 12, 2010 6:09pm Oct 12, 2010 6:09pm
[quote=Magix;4091616]
Quoting Allseeingeye

I think the usd is poised for a little more of a beat down, chart shows LTL a little further to the south-side...but market keeps its own clock.

For now, I would rather be all non committed to a long-side until I see need...A fairly convincing down day for cable, possible that we have found support for that last run up, but time will be the teller.
I think we have a bottom but that doesnt mean we are going straight up. we more then likely make a new high on the 15 min & retrace.
  • #260,116
  • Oct 12, 2010 6:20pm Oct 12, 2010 6:20pm
Quoting chazzle
Papas got a brand new trendline starting to go long 15812
agree but draw a central line also for this regression channel it will help you sometime market test that central line and then dive down you can see your blue line its a good hint until market is holding it we are down as soon as it breaks we will test upper line ..5750 is imp area according to H1 and according to daily chart we may test 5630 before up move but let see...closed long shorts no position now will add more if we unable to break today,s pvp otherwise buy on dip...

good luck

Ub
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gu.JPG Size: 163 KB
  • #260,117
  • Oct 12, 2010 7:05pm Oct 12, 2010 7:05pm
GU m15 has a new abc pattern with bearish HD. As long as price remains below 1.5815, look for the FE targets. There is also an inverse hs on the m15. Above 1.5815 and look for the HS target of 5861.
Attached Image (click to enlarge)
Click to Enlarge Name: GU.gif Size: 15 KB
  • #260,118
  • Oct 12, 2010 7:08pm Oct 12, 2010 7:08pm
GBP Nationwide Consumer Confidence 53 ( 59 expected ). Not good at all...
________________________________ Errare humanum est
  • #260,119
  • Oct 12, 2010 7:09pm Oct 12, 2010 7:09pm
The h1 is close to presenting us with the cross of death. (50 and 200 ema's cross down) It hasnt happened yet and could very well bounce off of each other. The last time the hourly cross of death happened, the GU had a 500 pip decline.
Attached Image
  • #260,120
  • Oct 12, 2010 7:19pm Oct 12, 2010 7:19pm
Quoting PipChick
The h1 is close to presenting us with the cross of death. (50 and 200 ema's cross down) It hasnt happened yet and could very well bounce off of each other. The last time the hourly cross of death happened, the GU had a 500 pip decline.
Or, put simply, the H4 200 will be below the H1 200....

Neg sign!

EGAD!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
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