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Cable Update (GBPUSD)

  • #262,341
  • Edited 4:02am Oct 29, 2010 4:00am | Edited 4:02am
Good day to you,

Some charts.... self explanatory. supported on the monthly - but blocked on the Weekly. Supported on the Daily.Rejected by primary trendline on the 4hr. Resistance @ 1.5920 on the 30 min chart - some bullish support though.

Could very well come to test 1.5850 - 1.5830 area. IF 1.5920 holds as resistance.

Wish you all success.

Regards
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  • #262,342
  • Oct 29, 2010 4:00am Oct 29, 2010 4:00am
Quoting bbakker
Throw them weekly cams over to me, I only have the daily ones. Cheers bro!

here u go enjoy
Attached File(s)
File Type: mq4 Camarilla Weekly Levels.mq4   12 KB | 299 downloads
  • #262,343
  • Oct 29, 2010 4:09am Oct 29, 2010 4:09am
Quoting Delite
B & Kill

Do the cams vary much from the ordinary pivots?
They are a slight variation of the standard pivots. Here is a link to the other pivot points and there formulae

http://www.babypips.com/school/other...n-methods.html
  • #262,344
  • Oct 29, 2010 4:09am Oct 29, 2010 4:09am
that doji candle on h1 is a little indecisive..playing tough...with the dollar index relatively strong...
  • #262,345
  • Oct 29, 2010 4:11am Oct 29, 2010 4:11am
Quoting bbakker
They are a slight variation of the standard pivots. Here is a link to the other pivot points and there formulae

http://www.babypips.com/school/other...n-methods.html

Thanks - have also seen them on pivotfarm. Are cams more precise (in your opinion?)
  • #262,346
  • Oct 29, 2010 4:19am Oct 29, 2010 4:19am
Quoting darrenware
Nice Pin on 1h and one forming on 4h

Gone short @ 1.5926 TP @ 1.5900
Hi All

Well this trade did not play out as it hit my SL

I seem to making the correct calls lately but i am failing with my placement of my SL I think or maybe it's my timing of entry

Never mind....will try and see were i am going wrong.

Good luck today everyone
Enter Signature
  • #262,347
  • Oct 29, 2010 4:20am Oct 29, 2010 4:20am
Quoting Delite
B & Kill

Do the cams vary much from the ordinary pivots?
yes it dos cam's use different way i will try to find it for u in my files i think i did post it in here search my post u will find it

also look in magix thread i thionk its there too

u got mail enjoy
  • #262,348
  • Oct 29, 2010 4:20am Oct 29, 2010 4:20am
Quoting Delite
Thanks - have also seen them on pivotfarm. Are cams more precise (in your opinion?)
Horses for courses. I am using cams because of namely one man... Digger. He has shown me a fantastic method of using these cams but in the past I have always had problems on how to utilise his method (i.e. when to enter the market). Now that I have been taught supply and demand principles based on PA, I use his daily cam method for setting targets for my day trading. It worked like an absolute peach on Wednesday. Again, I haven't nailed it down quite yet, but it is definitely in my trading plan!
  • #262,349
  • Oct 29, 2010 4:24am Oct 29, 2010 4:24am
Quoting darrenware
Hi All

Well this trade did not play out as it hit my SL

I seem to making the correct calls lately but i am failing with my placement of my SL I think or maybe it's my timing of entry

Never mind....will try and see were i am going wrong.

Good luck today everyone
It is all about entries and setting your SL appropriately. I use supply and demand principles on PA. I highly recommend that you visit priceaction's thread at http://www.forexfactory.com/showthread.php?t=255586

In his first post he has links to all the Sam Seiden webinars and other useful links. Well worth spending your time going through it all!
  • #262,350
  • Oct 29, 2010 4:26am Oct 29, 2010 4:26am
Quoting kill56
here u go enjoy
Cheers Bro! You're a star!
  • #262,351
  • Oct 29, 2010 4:27am Oct 29, 2010 4:27am
Quoting bbakker
It is all about entries and setting your SL appropriately. I use supply and demand principles on PA. I highly recommend that you visit priceaction's thread at http://www.forexfactory.com/showthread.php?t=255586

In his first post he has links to all the Sam Seiden webinars and other useful links. Well worth spending your time going through it all!
Cool...thank you so much, i'll have a good read through
Enter Signature
  • #262,352
  • Oct 29, 2010 4:30am Oct 29, 2010 4:30am
Quoting bbakker
Horses for courses. I am using cams because of namely one man... Digger. He has shown me a fantastic method of using these cams but in the past I have always had problems on how to utilise his method (i.e. when to enter the market). Now that I have been taught supply and demand principles based on PA, I use his daily cam method for setting targets for my day trading. It worked like an absolute peach on Wednesday. Again, I haven't nailed it down quite yet, but it is definitely in my trading plan!

miss him he is digging sure he is the cam's man , its great to have and with ensign u cant lose, they did work hard on cam's for long time till they master it
  • #262,353
  • Oct 29, 2010 4:31am Oct 29, 2010 4:31am
Quoting darrenware
Cool...thank you so much, i'll have a good read through
Read and listening to webinar sessions, listening to the King of Supply and Demand. Seiden is the mutts nuts... lol!
  • #262,354
  • Oct 29, 2010 4:32am Oct 29, 2010 4:32am
Finishing here for day/week, although will probably put my head back thru the door for U.s Q3 GDP # later for 1/2hr.

G/L all.
ex member
  • #262,355
  • Oct 29, 2010 4:41am Oct 29, 2010 4:41am
Quoting bbakker
Seiden is the mutts nuts... lol!

Lol!
  • #262,356
  • Oct 29, 2010 4:41am Oct 29, 2010 4:41am
the first set of single prints down at 5880 has been filled. my expectation is that we might fill the second one down at 5850-5830 if not now, maybe NY will do the good job.... a sustained push lower might lead to DS1 at 5812 (or better still 5800 round number).
---intrady still lokks bearish; we shall see if this baby will turn north. if not still selling cable till 5710ish
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  • #262,357
  • Oct 29, 2010 4:45am Oct 29, 2010 4:45am
Quoting 50d
the first set of single prints down at 5880 has been filled. my expectation is that we might fill the second one down at 5850-5830 if not now, maybe NY will do the good job.... a sustained push lower might lead to DS1 at 5812 (or better still 5800 round number).
---intrady still lokks bearish; we shall see if this baby will turn north. if not still selling cable till 5710ish
also bearish till 5812 still waiting for it to get there..seems like 38 fib level and dp still holds tight
  • #262,358
  • Oct 29, 2010 4:52am Oct 29, 2010 4:52am
Quoting 50d
the first set of single prints down at 5880 has been filled. my expectation is that we might fill the second one down at 5850-5830 if not now, maybe NY will do the good job.... a sustained push lower might lead to DS1 at 5812 (or better still 5800 round number).
---intrady still lokks bearish; we shall see if this baby will turn north. if not still selling cable till 5710ish
I thought Market Profile was abandoned in the 80s when traders realised the market was non-parametric?
  • #262,359
  • Oct 29, 2010 5:00am Oct 29, 2010 5:00am
Quoting 50d
bearish till all them single prints from yesterday are filled @ 5830ish.
we wait n see...
Quoting Delite
Yes, I get that! But what you are saying is that you expect the market to retrace to the 830's - why?
If you analyse the Forex market, there are 3 basic stages.. Uptrend, downtrend and consolidation. These are quite clear on the daily charts.

As we all know, price moves in waves. If you analyse the charts you will see that price has a tendency to move back to the origin of where the big move started, especially in the consolidation stage.

A classic example of price moving back to origin is when the BoJ intervened and price shot up on USDJPY, eventually hitting a supply zone, where it stayed for a while before it slowly moved back to the origin (and further down to hit nearly 80.00)

This is also why you get the head and shoulders pattern occurring on your charts.

Of course this doesn't aways happen and less frequently when in a uptrend or downtrend on the higher timeframes. But if you look at the lower timeframes m1/m5, this happens all the time.

Look at today... After the news at 09:30am, price jumped from 1.5876 to 1.5919 and now it is slowly meandering back to the origin of the jump until we hit SUPPORT not bloody resistance (I always make this schoolboy error.. lol) again. So the play there was to wait for it to hit resistance at 1.5919, wait for it to retrace back to 1.5910ish, go short with your final target at 1.5876.

This doesn't always work because no system is 100% guaranteed, but this is what Price Action is all about (in a nutshell... lol)
  • #262,360
  • Oct 29, 2010 5:02am Oct 29, 2010 5:02am
Quoting NoahEffect
I thought Market Profile was abandoned in the 80s when traders realised the market was non-parametric?
Maybe... maybe not.
Anybody can use anything to analyze the market . some use MA crossover while others dont. It depends on what works for you. this one works for me when trading GU. Again its not my main indi, but only adds its own voice to my overall intraday analysis.
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