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Cable Update (GBPUSD)

  • #262,361
  • Oct 29, 2010 5:11am Oct 29, 2010 5:11am
Quoting bbakker
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...
Wow. Great post. Thank you. And sorry for being such a dunce!
  • #262,362
  • Oct 29, 2010 5:18am Oct 29, 2010 5:18am
Quoting Delite
Wow. Great post. Thank you. And sorry for being such a dunce!
You're not a dunce at all! Trading is not easy!

Looks like the bulls have control!
  • #262,363
  • Oct 29, 2010 5:20am Oct 29, 2010 5:20am
Looking at my previous post

http://www.forexfactory.com/showpost...stcount=262264


What do we think at where it bounced, ok, 3 pips or so off the line, lets just see.

Has it got any legs ?
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I need to finish something i started
  • #262,364
  • Oct 29, 2010 5:26am Oct 29, 2010 5:26am
Quoting bbakker
You're not a dunce at all! Trading is not easy!

Looks like the bulls have control!
Maybe not! It is a fakey and hit the downward trendline on m5/m15! Also new up channel forming on the same tf!
  • #262,365
  • Oct 29, 2010 5:29am Oct 29, 2010 5:29am
Quoting bbakker
Maybe not! It is a fakey and hit the downward trendline on m5/m15! Also new up channel forming on the same tf!

Its more fun being back in the daily action isn't it?!
  • #262,366
  • Oct 29, 2010 5:32am Oct 29, 2010 5:32am
1.5917 short opened..tp:1.5787..sl:1.5940
  • #262,367
  • Oct 29, 2010 5:36am Oct 29, 2010 5:36am
Quoting Delite
Wow. Great post. Thank you. And sorry for being such a dunce!
Also you should take your profit before it hits the bottom support line! Classic example again just now whereby it did not reach the final target of 1.5876, but just before the final support line. This is why I draw zones and not just lines!
  • #262,368
  • Oct 29, 2010 5:37am Oct 29, 2010 5:37am
Quoting crisis
1.5917 short opened..tp:1.5787..sl:1.5940
risky if you ask me !
  • #262,369
  • Oct 29, 2010 5:40am Oct 29, 2010 5:40am
Quoting Dayboy001
risky if you ask me !
Yup...especially as the bulls have control at the moment!
  • #262,370
  • Oct 29, 2010 5:47am Oct 29, 2010 5:47am
another broker nailed. using virtual plugin to get yer stops.

http://www.forexpeacearmy.com/forex-...er-plugin.html
  • #262,371
  • Oct 29, 2010 5:47am Oct 29, 2010 5:47am
Quoting Delite
Its more fun being back in the daily action isn't it?!
Day trading is also the hardest bit of trading, the sharp end of the stick. Swing trading of the higher timeframes is easier, I can assure you that. People want to get into the thick of the action and that is working of the lower timeframes. The lower the timeframe, the harder the trading gets! It is only the hardcore seasoned traders, like Kill and Magix, who can milk those lower timeframes, but the principles are all the same whichever timeframe you work of. nAVIN2007 only works of the higher timeframes and for any newbie this is the place to start. Problem is no one wants to start using the slower timeframes where you might have to wait days for entry and weeks for exit, because that is boring!
  • #262,372
  • Oct 29, 2010 5:50am Oct 29, 2010 5:50am
Sorry about previous post deletion, I just realized after the lack of several cups of tea this morning that the volatile market this morning is more probably due to the ;

FTSE monthly and quarterly futures contracts & Equities expiring & going into auctions.

This would seem more logical as their have been many spikes both up and down Will probably finish about mid-day'-ish
  • #262,373
  • Oct 29, 2010 5:53am Oct 29, 2010 5:53am
Quoting winsome
another broker nailed. using virtual plugin to get yer stops.

http://www.forexpeacearmy.com/forex-...er-plugin.html
And you'd think that they get enough money from the spreads... A fine too.. good! The lesson is... choose your broker wisely! Preferably a well known established broker rather than a smaller startup.
  • #262,374
  • Oct 29, 2010 5:53am Oct 29, 2010 5:53am
Time for lunch and some work! See you later peeps!
  • #262,375
  • Oct 29, 2010 5:55am Oct 29, 2010 5:55am
Quoting bbakker
Day trading is also the hardest bit of trading, the sharp end of the stick. Swing trading of the higher timeframes is easier, I can assure you that. People want to get into the thick of the action and that is working of the lower timeframes. The lower the timeframe, the harder the trading gets! It is only the hardcore seasoned traders, like Kill and Magix, who can milk those lower timeframes, but the principles are all the same whichever timeframe you work of. nAVIN2007 only works of the higher timeframes and for any newbie this is the place to...
agreed. tho highly problematic attitude to chose tf according to the exicement it creates. what i dislike about higher tf's tho is the large sl's one has to use.
  • #262,376
  • Oct 29, 2010 5:56am Oct 29, 2010 5:56am
Quoting AnonYmos
agreed. tho highly problematic attitude to chose tf according to the exicement it creates. what i dislike about higher tf's tho is the large sl's one has to use.
Yep - for me too.
  • #262,377
  • Oct 29, 2010 5:57am Oct 29, 2010 5:57am
Quoting Dayboy001
risky if you ask me !
my 4H candle closes in 4 mins and this pa has created a good hammer

bullish signal ?
  • #262,378
  • Oct 29, 2010 6:02am Oct 29, 2010 6:02am
burn baby..burnnn!!!
  • #262,379
  • Oct 29, 2010 6:09am Oct 29, 2010 6:09am
Quoting NoahEffect
I thought Market Profile was abandoned in the 80s when traders realised the market was non-parametric?
...no market profiling is not abandoned I think your getting slightly confused mate....I know of a large proprietary firm that uses it as standard in all intraday analyasis.

Market profiling does not contain magic or wizardry neither is it an indicator therefore no need to abandon anything. Its simply is a tool that shows you where price has traded throughout the day in a compound format which allows important areas of supp/res, day point of control, single prints and profile distribution patterns to be highlighted.....Once you understand how price behaves generally on day to day basis and learn to identify the profile patterns price becomes pretty predictable intraday. Its a helpful tool for any intraday trader.

As for 50d saying price may trade down to 5830 zone is is more than probable. I’m reluctant to think we will make new highs before filling the single prints between 5847 and 5866. Yesterdays profile also has a big void in between the upper and lower distribution which increases the chances of us breaking lower and ranging somewhere between 5900 and 5850 to fill in the profile gap.

If you want to see MP charts used in intraday analysis pop into my thread
http://www.forexfactory.com/showthre...243587&page=45

Stocky
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  • #262,380
  • Oct 29, 2010 6:10am Oct 29, 2010 6:10am
Quoting AdrianHNV
Sorry about previous post deletion, I just realized after the lack of several cups of tea this morning that the volatile market this morning is more probably due to the ;

FTSE monthly and quarterly futures contracts & Equities expiring & going into auctions.

This would seem more logical as their have been many spikes both up and down Will probably finish about mid-day'-ish
Your information is totally inaccurate, Adrian. Firstly, the quarterly contracts expire in March, June, September and December. Anyway, more information can be found on the following site:

http://www.londonstockexchange.com/t...ment-price.htm
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