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Cable Update (GBPUSD)

  • #262,881
  • Nov 2, 2010 2:47pm Nov 2, 2010 2:47pm
Where are you getting massive buys from??

Quoting Robot
gbp/usd long massive buys
Enter Signature
  • #262,882
  • Nov 2, 2010 2:49pm Nov 2, 2010 2:49pm
Quoting pawpaw1000
Well, you know people are always hard core on the web, until they have to actually talk infront of people I'd like to see some of these people in real life! could be funny
they'd probably get diarrhea when they meet you up close
Thank You
  • #262,883
  • Nov 2, 2010 2:51pm Nov 2, 2010 2:51pm
Quoting Robot
gbp/usd long massive buys
Dunno about massive...might be a little overstated there mango....

But at least so far, no MASSIVE selling....

Heh.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #262,884
  • Edited 2:58pm Nov 2, 2010 2:56pm | Edited 2:58pm
Yeah, I was reading the thread sat in my boss chair and eating popcorn. The bit with 100 trades at +1 pip was especially awesome. His broaker must love the guy. Do you realize you'll be responsible for his future heart attack ? :O

Anyhow, I had a question. Seems like you are level trading (I am smart, aren't I?). If one break, we assume it will reach the next one, depending on the momentum shown on short TF's. The Average Daily Range then help us figure if another level can be reached in a direction or another.

I guess you spend time spotting the level on weekly and daily charts, then H4, and previous day H1 to get your levels. Levels below H1 aren't really useful, are they ?

Now I have to figure out the way to understand how the price travels between those levels. I realized that it can bounce in between two levels during consolidation. But the direction of the day...

Quoting cloggie
This is what I got there yesterday:







The fibre thread is filled with thugs out to get others to join them on the road to ruin and failure.
Hello.
  • #262,885
  • Nov 2, 2010 2:57pm Nov 2, 2010 2:57pm
Quoting wormboy
they'd probably get diarrhea when they meet you up close

@pawpaw1000 on Twitter
  • #262,886
  • Nov 2, 2010 3:02pm Nov 2, 2010 3:02pm
Quoting emene
Yeah, I was reading the thread sat in my boss chair and eating popcorn. The bit with 100 trades at +1 pip was especially awesome. His broaker must love the guy. Do you realize you'll be responsible for his future heart attack ? :O

The only scalpers that survive long term are the HFT's with no spread, retailers can never make it work going for 1 pip targets at a time, yesterday he let one run down 30 pips under water before he closed it so he would need a clear run of 30 to make up for it, I am not even that good.....

Quoting emene
Anyhow, I had a question. Seems like you are level trading (I am smart,...
Yeah, I play level to level, I get mine from a combination of SR's, pivots (intraday, intrasession and intra supports) fibs, fib extensions, and percentage ranges of intraday sessions and previous day supports, lots of them are calculated automatically, some manually.
  • #262,887
  • Edited 3:05pm Nov 2, 2010 3:04pm | Edited 3:05pm
That must be a lot of lines. You look for clusters and clean the chart up ?

Quote
Yeah, I play level to level, I get mine from a combination of SR's, pivots (intraday, intrasession and intra supports) fibs, fib extensions, and percentage ranges of intraday sessions and previous day supports, lots of them are calculated automatically, some manually.
Hello.
  • #262,888
  • Nov 2, 2010 3:06pm Nov 2, 2010 3:06pm
Quoting emene
That must be a lot of lines. You look for clusters and clean the chart up ?

I weigh them and average them out to give me lines roughly 30 pips apart depending on ADR's for the last 20 days or so, that number changes depending on ranges and trends on the daily and weekly.
  • #262,889
  • Nov 2, 2010 3:12pm Nov 2, 2010 3:12pm
Well, nothing Huge or Massive here, but, beats the hell out of a sell off so far....
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #262,890
  • Nov 2, 2010 4:08pm Nov 2, 2010 4:08pm
Hourly view with a pitchfork...topside target, the aqua line...possible channel in the fork?

Going for a nap now, you guys don't bust nothing while I'm gone, okay?!?!?
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #262,891
  • Nov 2, 2010 4:23pm Nov 2, 2010 4:23pm
HI guys. Im a fresh uk trader. Im trading in small lot sizes and trying to grab 10 pips at a time. Been reading keenly and look forward to learning from you all. Im trying to keep it simple just using support, resistance and trend lines and then just judging the candles.

All the best.
  • #262,892
  • Nov 2, 2010 4:27pm Nov 2, 2010 4:27pm
Quoting Magix
Hourly view with a pitchfork...topside target, the aqua line...possible channel in the fork?

Going for a nap now, you guys don't bust nothing while I'm gone, okay?!?!?

Magix; is that the nolag 200 ? Night
  • #262,893
  • Nov 2, 2010 5:04pm Nov 2, 2010 5:04pm
Quoting wormboy
leaving the small short in with emergency stop placed @6108, 62 pips risk.
will be adding to the shorts only if today closes bearish.
time for bed. hope everyone have a good day.

good luck
low return day for me today, managed a 33 pips scalp and nothing else. my short taken yesterday wasn't cashed in earlier as it failed to test the monthly pvp level I had in mind. I won't be adding to the position yet, as the daily close does not suggest that sellers are in full control. Risk had been lowered to 54 pips, stop now @6100.

Catch you guys at lo. Good luck
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Thank You
  • #262,894
  • Nov 2, 2010 6:16pm Nov 2, 2010 6:16pm
Quoting fourxtrader
Let's see if another compression formation in a smaller
TF will provide the spark to sustain a continuation and
further EMA separation and expansion on this 1H trend.

Remembering the earlier move began on multiple TFs
all gathering in sync in respective compression patterns
which generally provide greater energy for larger moves.

Dr. D.

Still an opportunity for the 1H trend to continue upward.
Here the 15M is going into a squeeze and could release
in the Asian / LDN session. The 5M earlier couldn't fully
form and hold a tight pattern to produce a strong move.

Dr. D.
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  • #262,895
  • Nov 2, 2010 7:01pm Nov 2, 2010 7:01pm
Another trader (Flow) spotted this:

http://i51.tinypic.com/v3hcfa.png
  • #262,896
  • Nov 2, 2010 9:01pm Nov 2, 2010 9:01pm
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  • #262,897
  • Nov 3, 2010 12:08am Nov 3, 2010 12:08am
Quoting Low
Another trader (Flow) spotted this:

http://i51.tinypic.com/v3hcfa.png

rounded bottom and tops ....

check out gu 60 min....

I got long on gu 1st rounded bottom .

I think Gu is dead in the water , expecting 5700 by end of week.
Blogging daily now at www.volume.zone
  • #262,898
  • Nov 3, 2010 1:11am Nov 3, 2010 1:11am
Quoting malcolmb14
rounded bottom and tops ....

check out gu 60 min....

I got long on gu 1st rounded bottom .

I think Gu is dead in the water , expecting 5700 by end of week.
We all trade our own charts.

One or both of us could be right depending on SL and patience.
  • #262,899
  • Edited 2:15am Nov 3, 2010 1:29am | Edited 2:15am
Quoting Low
We all trade our own charts.

One or both of us could be right depending on SL and patience.
I think you missed the "lol" in the subject of malcolm's post.

I'm with you, there's an inverse h&s on 4H chart as well. The trend is up, there's more notable dead bodies fighting against it.
  • #262,900
  • Nov 3, 2010 1:35am Nov 3, 2010 1:35am
The FOMC could produce very different results than the market's been anticipating. If QE2 doesn't meet the dollar destruction quotient that's been priced into the market, this will have been one heck of a mark up.

Considering 5625 is the current 4/8 line on the daily/weekly, a drop to this area is possible. Right now it's anyone's guess.

Personally, not guessing, just trading the breakout on either side. Right now sitting right on the line. Not taking any positions before FOMC, just some hit and run. We may go to R1 bounce and drop, S1 bounce and rise, or continue through to the next targets.

Step by step.
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