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Cable Update (GBPUSD)

  • #265,641
  • Dec 1, 2010 8:37am Dec 1, 2010 8:37am
Quoting kaspopsicle
Rememberd Magix 24/200 cross on 1 min a bit too late. Will remember next time.
MA is a lagging indicator.. by the time it makes a decisive cross price already had moved too far.. have fun trying though..
  • #265,642
  • Dec 1, 2010 8:38am Dec 1, 2010 8:38am
Quoting Purple
MA is a lagging indicator.. by the time it makes a decisive cross price already had moved too far.. have fun trying though..
I do ...frequently. Its also profitable. Good luck
All systems of divination, like music itself,work through patterns.
  • #265,643
  • Dec 1, 2010 8:40am Dec 1, 2010 8:40am
Quoting Magix
Speaking of the MA crosses Kas....

Check out the almost 200 pip completion on EJ...

A quick toggle of the charts helps finding opportunities...
Cheers mate !
All systems of divination, like music itself,work through patterns.
  • #265,644
  • Dec 1, 2010 8:40am Dec 1, 2010 8:40am
Traders use MA crosses to decide where to exit, but not for entry..
  • #265,645
  • Dec 1, 2010 8:42am Dec 1, 2010 8:42am
Quoting Purple
MA is a lagging indicator.. by the time it makes a decisive cross price already had moved too far.. have fun trying though..
Heya Purple....

Best of the season to you and yours my friend.

We all see different things in the charts, and though some view moving averages as lagging indicators for dictation of trends especially on the MA crosses, if you know what you are looking for and how to play them, they can not only help lead the way, but help with targets on trades.

Meh, we all need a crutch or two in this market.

Enjoy the day brother!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #265,646
  • Dec 1, 2010 8:48am Dec 1, 2010 8:48am
Quoting Magix
Speaking of the MA crosses Kas....

Check out the almost 200 pip completion on EJ...

A quick toggle of the charts helps finding opportunities...
Where have i been ? Used to have my charts set up with ejpy on it. Its about time i started getting serious about all this. Thanks MAgix.
k
All systems of divination, like music itself,work through patterns.
  • #265,647
  • Edited 9:15am Dec 1, 2010 8:52am | Edited 9:15am
Quoting Magix
Heya Purple....

Best of the season to you and yours my friend.

We all see different things in the charts, and though some view moving averages as lagging indicators for dictation of trends especially on the MA crosses, if you know what you are looking for and how to play them, they can not only help lead the way, but help with targets on trades.

Meh, we all need a crutch or two in this market.

Enjoy the day brother!


hey magix.. how's the magic .. all good i hope?

re the ma convo...
they appear to be popular and many use CCI and RSI ocillators for confirmation....and ma's for entry or exit .. but to be honest,personally i find claryfying crosses and oscillator moves a little hard to determine at times...so refrain... i understand some are very powerfull.. maybe i'tll click one day

update... out @ 15561
  • #265,648
  • Dec 1, 2010 9:26am Dec 1, 2010 9:26am
hello !!
my view...
i hope for a good recovery
Attached Image (click to enlarge)
Click to Enlarge Name: I HOPE.jpg Size: 95 KB
  • #265,649
  • Dec 1, 2010 9:33am Dec 1, 2010 9:33am
lower TL on 30 min severely breached..

looks like 15550 area is now the line in the sand


done today.. so good luck all
  • #265,650
  • Dec 1, 2010 9:49am Dec 1, 2010 9:49am
Recovery found supply athe great confluence of previous 1hr/4hr swing hi zone, previous 4hr/daily swing lo zone, descending 1hr trend line and 23.6% 6183-5483 4hr swing....the sell-off from there has breeched the ascending 1hr trend line that had been established during the upmove recovery of yesterday's 5483 lo. Price has arrived at 61.8% of that yesterday lo - today's current hi/pullback hi move 5483-5647, confluence with the previous 1hr swing hi/lo zone..

Great bearish divergence plays on the lower t/f's athe current daily hi and that potential resistance/sbr confluence.

Current Near-term 1hr screenshot below.

G/L

http://www.easy-upload.net/fichiers/z.2010121164837.gif
ex member
  • #265,651
  • Dec 1, 2010 9:51am Dec 1, 2010 9:51am
5min bearish divergence play at current daily hi discussed above is shown below.

G/L

http://www.easy-upload.net/fichiers/...0121165116.gif
ex member
  • #265,652
  • Dec 1, 2010 10:09am Dec 1, 2010 10:09am
Quoting bbmac
5min bearish divergence play at current daily hi discussed above is shown below.

G/L
Thanks Mac, i'm holding my short from 15575
All systems of divination, like music itself,work through patterns.
  • #265,653
  • Dec 1, 2010 10:32am Dec 1, 2010 10:32am
my guess is we're heading for a slight retrace before going any farther down
Attached Image (click to enlarge)
Click to Enlarge Name: gbpussdddd.gif Size: 22 KB
  • #265,654
  • Dec 1, 2010 10:55am Dec 1, 2010 10:55am
Quoting Magix
Speaking of the MA crosses Kas....

Check out the almost 200 pip completion on EJ...

A quick toggle of the charts helps finding opportunities...

If u notice,,,, the 2 MAs have crossed each-other a few times b4 the price made its mind up.... the crossing of the MAs is more reliable on bigger time frames,,, and still,, only 1 indy,, of the 3-4 u need to take a trade... speking 4 myself, the other 1s might be supp/res, pins or dojis,, 50, 100 and 200 MAs which act as s/r,, the trend etc...
  • #265,655
  • Dec 1, 2010 10:58am Dec 1, 2010 10:58am
great stuff - scalped that back down for 20 ....
  • #265,656
  • Dec 1, 2010 11:06am Dec 1, 2010 11:06am
Quoting chazzle
great stuff - scalped that back down for 20 ....

i went long with it 5571... i was setting up my charts when i got en entry alert... but what was behind that move and the plunch???
  • #265,657
  • Dec 1, 2010 11:15am Dec 1, 2010 11:15am
Quoting kaspopsicle
Thanks Mac, i'm holding my short from 15575
oops! turned my back for a minute got spiked out.
All systems of divination, like music itself,work through patterns.
  • #265,658
  • Dec 1, 2010 11:58am Dec 1, 2010 11:58am
Quoting snatch
i went long with it 5571... i was setting up my charts when i got en entry alert... but what was behind that move and the plunch???
By William L. Watts LONDON (MarketWatch) -- The United States is prepared to support an extension of the European Financial Stability Facility, the euro-zone rescue fund put in place by the European Union following the Greek bailout, through an extra commitment of funding from the International Monetary Fund, Reuters reported Wednesday, citing an unnamed U.S. official. The report was credited with boosting the euro and lifting U.S. stocks to new daily highs. The official said a decision is up to the European officials, but that the United States would support using the IMF in current circumstances, the report said.
  • #265,659
  • Dec 1, 2010 1:25pm Dec 1, 2010 1:25pm
Quoting Low
By...

thank you that was well explained.
with best wishes
  • #265,660
  • Dec 1, 2010 4:42pm Dec 1, 2010 4:42pm
Quoting skerdi-meta
If u notice,,,, the 2 MAs have crossed each-other a few times b4 the price made its mind up.... the crossing of the MAs is more reliable on bigger time frames,,, and still,, only 1 indy,, of the 3-4 u need to take a trade... speking 4 myself, the other 1s might be supp/res, pins or dojis,, 50, 100 and 200 MAs which act as s/r,, the trend etc...
As much as I can appreciate what you are saying, without having an insight for what I am actually looking at or looking for, the relevance of your reply is completely lost.

I would think that if you had a look at the EJ chart and a 200 pip upside marker you'd have a better understanding of what I see.

During NY...On a trade like this, I am looking for a 200 pip score, in a traded range(ATR). In that area, I will take a counter trend trade and will hold until the 2 lines cross back.

This is a counter play strategy...if London Closes 100 on Cable in this time, again, same deal, if during London/NY we have blown 150 outa the water, on a 200, I will heavy counter.

People that limit themselves to any single methodology in trading limit their ability to trade a lot of the playable ranges. Those that think that Moving averages are Laggy, haven't a clue on what to do with them, and end up just talking out of their asses.

We all see what we want to see in a chart...if you choose to continue to use them or not use them, please don't try and limit others by your own specific narrowed perspective.

Look at the chart posted, and compare to the original...I had 200 written for a reason, EJ came up short by 3 pips...from there, look at the decline and counter range traded...
Attached Image (click to enlarge)
Click to Enlarge Name: EJ2002.jpg Size: 108 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
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