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Cable Update (GBPUSD)

  • #263,441
  • Nov 5, 2010 4:01am Nov 5, 2010 4:01am
Hi folks...it's that time of the month again...

Cable took a breather yesterday running out of her bullish steam

Following 1.6300 rejection, momentum has been building up to the downside & wrestling w/ 1.6200 handle as we speak


Happy NFP!
Attached Image
Hear the music before the song is over ...
  • #263,442
  • Nov 5, 2010 4:03am Nov 5, 2010 4:03am
Quoting huskyboy
bbmac, how do you determine that trigger on the hidden h1 divergence ? Thx

Price action itself is always the actual entry trigger for me...within such a set-up..Ie if I were using the 1hr as the trigger I would look for a good reversal candle there like an engulfing, hammer, pinbar etc..and enter on it's close/open of next. (P.s I don't use 1hr entry triggers I am on a lower t/f entry trigger.)

G/L
ex member
  • #263,443
  • Nov 5, 2010 4:05am Nov 5, 2010 4:05am
Quoting GlobalMacro
Hi folks...it's that time of the month again...

Cable took a breather yesterday running out of her bullish steam

Following 1.6300 rejection, momentum has been building up to the downside & wrestling w/ 1.6200 handle as we speak


Happy NFP!
Hey GM great to see you in here. Hope all is going well for you.
You've got to be IN IT to WIN IT!
  • #263,444
  • Nov 5, 2010 4:12am Nov 5, 2010 4:12am
Quoting Ifty
Hey GM great to see you in here. Hope all is going well for you.
Hi Ifty...I'm doing well bro...how're you? how's trading coming along?
Hear the music before the song is over ...
  • #263,445
  • Nov 5, 2010 4:13am Nov 5, 2010 4:13am
...don't usually look out for these, but this one seems to stare..

8am 27/10 to 10am 29/10 compare to 9am 3/11 to now. (H1 chart).

GL all.
  • #263,446
  • Nov 5, 2010 4:15am Nov 5, 2010 4:15am
Quoting bbmac
Price action itself is always the actual entry trigger for me...within such a set-up..Ie if I were using the 1hr as the trigger I would look for a good reversal candle there like an engulfing, hammer, pinbar etc..and enter on it's close/open of next. (P.s I don't use 1hr entry triggers I am on a lower t/f entry trigger.)

G/L
what TF as an entry trigger you use than?
  • #263,447
  • Nov 5, 2010 4:18am Nov 5, 2010 4:18am
Quoting dejv
what TF as an entry trigger you use than?
overall 70% are on 1min, 25% 5min and 5% are 15min...it depends on the set-up ...but I try to find the earliest possible entry but if that doesn't set-up perhaps the next higher t/f does.

G/L
ex member
  • #263,448
  • Nov 5, 2010 4:30am Nov 5, 2010 4:30am
Quoting bbmac
overall 70% are on 1min, 25% 5min and 5% are 15min...it depends on the set-up ...but I try to find the earliest possible entry but if that doesn't set-up perhaps the next higher t/f does.

G/L
Stupid question, should read your threads first, but do you use the same setup you always post for the m1 trades. I have been reading a small part and you mentioned that you use 2 A4 papers to ride down all the S/R with DP on top and low off each paper. You still use it and why on 2 papers? Stupid again, should first try it out and then ask questions. Thx
  • #263,449
  • Nov 5, 2010 4:40am Nov 5, 2010 4:40am
Quoting GlobalMacro
Hi Ifty...I'm doing well bro...how're you? how's trading coming along?
Still scalping away for me as usual although it's been quite difficult in the last couple of weeks due to crazy market movements as I rely on RSI which has not been hitting it's mark as much as normal. Waiting for NFP before taking any trades. Please please hang around longer this time.
You've got to be IN IT to WIN IT!
  • #263,450
  • Nov 5, 2010 4:40am Nov 5, 2010 4:40am
Quoting huskyboy
Stupid question, should read your threads first, but do you use the same setup you always post for the m1 trades. I have been reading a small part and you mentioned that you use 2 A4 papers to ride down all the S/R with DP on top and low off each paper. You still use it and why on 2 papers? Stupid again, should first try it out and then ask questions. Thx

I tend to put all the potential support/resistance factors on the screen now (I have 2 x screens dedicated to the potential support/resistance factors only) and from this I can work out where the areas of confluence are...I then rate these using a methodology to do so, either A+, A- or B+ (for the purposes of determining risk) and it is at these areas that I look or one of my repeating set-ups with a price action trigger (these are comprised of certain simple repeating patterns of oscillator divergence/extremes, fractal geometry and bands showing changes in volatility) When price arrives at one of the potential support/resistance confluence areas I have pre-identified and rated I look to see if such a set-up develops on my 1min chart and if so if this supported on t/f's above...ie I look for the highest possible technical confluence to achieve the highest possible strike rate (winning trades as a % of total,) that runs at 95%+. I have several such repeating set ups and these are subdivided into with trend and counter trend.

G/L
ex member
  • #263,451
  • Nov 5, 2010 4:43am Nov 5, 2010 4:43am
Quoting bbmac
I tend to put all the potential support/resistance factors on the screen now (I have 2 x screens dedicated to the potential support/resistance factors only) and from this I can work out where the areas of confluence are...I then rate these using a methodology to do so, either A+, A- or B+ (for the purposes of determining risk) and it is at these areas that I look or one of my repeating set-ups with a price action trigger (these are comprised of certain simple repeating patterns of oscillator divergence/extremes, fractal geometry and bands showing...
thanks for the answer, i will read your threads first.
  • #263,452
  • Nov 5, 2010 4:46am Nov 5, 2010 4:46am
better than expected data but we couldnt go up strong...
  • #263,453
  • Nov 5, 2010 4:47am Nov 5, 2010 4:47am
We have just had 2.1% for the cpi against predicted 0.7% and the pound goes nowhere. It would normally have rocketed on an increase of just 0.2%.
Does anyone think that the nfp is keeping the big money out of the market?
Any other ideas because this seems to defy logic and historical prediction to me.
andy
  • #263,454
  • Nov 5, 2010 4:51am Nov 5, 2010 4:51am
Quoting andypips
We have just had 2.1% for the cpi against predicted 0.7% and the pound goes nowhere. It would normally have rocketed on an increase of just 0.2%.
Does anyone think that the nfp is keeping the big money out of the market?
Any other ideas because this seems to defy logic and historical prediction to me.
andy
they have been pricing the non farm data since yesterday close both at gbp/usd and eur/usd i guess, they bought from deeps and sold from tops till wendesday in my opinion.
  • #263,455
  • Nov 5, 2010 4:53am Nov 5, 2010 4:53am
Quoting letscry
they have been pricing the non farm data since yesterday close both at gbp/usd and eur/usd i guess, they bought from deeps and sold from tops till wendesday in my opinion.
Yes I can see thats possible although you would have still expected an attack on the 6250 level with figures that good.
Thats Friday for you!!
  • #263,456
  • Nov 5, 2010 4:57am Nov 5, 2010 4:57am
Quoting andypips
Yes I can see thats possible although you would have still expected an attack on the 6250 level with figures that good.
Thats Friday for you!!
if they continue to sell eur/usd i dont think that 1.6250 attack happens and i hope it wont ehhe
  • #263,457
  • Nov 5, 2010 5:02am Nov 5, 2010 5:02am
Quoting redsword11
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  • #263,458
  • Nov 5, 2010 5:13am Nov 5, 2010 5:13am
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other open trade - closed most of it
  • #263,459
  • Nov 5, 2010 5:14am Nov 5, 2010 5:14am
Quoting Ifty
Still scalping away for me as usual although it's been quite difficult in the last couple of weeks due to crazy market movements as I rely on RSI which has not been hitting it's mark as much as normal. Waiting for NFP before taking any trades. Please please hang around longer this time.
in a situation like this it's important to not make yourself stand against her...let her calm down and then get into the flow...

as for NFP market's expecting strong figures buying up the dough as I have been going into the numbers

I'm working on some new ideas & evaluating some new projects so I'm a little busy w/ offline business but I try to post more when I get the chance to do so bro...
Hear the music before the song is over ...
  • #263,460
  • Nov 5, 2010 5:18am Nov 5, 2010 5:18am
Move off yesterday's 6297 (Weekly R2) Hi breeched the steepest 1hr ascending trendline to the downside...price has mnade a current 6179 lo. Current near-term 1hr screenshot below, the recovery off the lows finding fresh supply around the 38.2% of the fall from 6297 to such 6179 lo...price challenging the 1hr previous swing lo zone around that lo now...

U.s Nfp due later.

G/L

http://www.easy-upload.net/fichiers/z.2010115111740.gif
ex member
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