Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

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#269,441
Jan 21, 2011 1:27am Jan 21, 2011 1:27am

seekerz
| Joined Aug 2008 | Status: Ten Ten Ten Ten | 78 Posts

Quoting chazzle

Disliked

Rejected twice by 61.8 - I put in a short at the 50

Ignored

how about the Take Profit point??

L-H-LH-HH -> B // H-L-HL-LL -> B

#269,442
Jan 21, 2011 1:28am Jan 21, 2011 1:28am

fourxtrader
Joined Mar 2007 | Status: 'sleeping in a dumpster' | 2,151 Posts

My obvious 'fixation' over the seldom recognized moving average
based compression patterns versus those more readily accepted
forms of MA analysis comes with good reason due to their high
reliability in forecasting and signaling optimal trade opportunities.

Read the words of a Senior Commodities Analyst with EWI, Mr.
Jeffrey Kennedy who is expert in the Elliott Wave Principle:

“Moving Average Compression (MAC) works so well in identifying
trade set-ups because it represents periods of market contraction.
As we know, because of the Wave Principle, after markets expand,
they contract (when a five-wave move is complete, prices retrace
a portion of this move in three waves.) MAC alerts you to those
periods of price contraction. And since this state of price activity
can’t be sustained, MAC is also the precursor to price expansion."

I still like my quantum energy explanation, ‘there are no free lunches
in the universe.'

Dr. D

#269,443
Jan 21, 2011 1:31am Jan 21, 2011 1:31am

chazzle
Joined Sep 2010 | Status: Trader | 11,327 Posts

Quoting chazzle

Disliked

Rejected twice by 61.8 - I put in a short at the 50

Ignored

I'll call it a scalp at this sticky point and take 10 - frankie could take this either way short term

#269,444
Jan 21, 2011 1:32am Jan 21, 2011 1:32am

bbmac
Joined Jul 2007 | Status: Trader | 5,392 Posts

G/M

Any attempts higher yesterday were repelled by supply between 6005-09, the resulting fall finding a base at yesterday's 5835 lo in a previous 1hr/4hr swing loi zone confluence with 38.2% of the 4hr swing 5473-6059. The pullback from there is struggling with more upside recovery at the 61.8% of the 6009-5835 1hr swing down (yesterday's hi-lo.)

Uk Retal sales etc data due at 0930am gmt.

1hr near-term current screenshot below.

G/L

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ex member

#269,445
Jan 21, 2011 1:48am Jan 21, 2011 1:48am

45Condor
Joined Aug 2009 | Status: Technical fundamentalist | 2,202 Posts

With you on this.

...and currently, and nice compression forming on the 5 and 15min charts for Cable - I use Guppy profile in its original format - with but some 10 minutes to London open. A regular occurrence.

Quoting fourxtrader

Disliked

My obvious 'fixation' over the seldom recognized moving average
based compression patterns versus those more readily accepted
forms of MA analysis comes with good reason due to their high
reliability in forecasting and signaling optimal trade opportunities.

Read the words of a Senior Commodities Analyst with EWI, Mr.
[i][color=blue][font=Verdana]Jeffrey...

Ignored

Author of: For Pip's Sake! (Available at Amazon... :-) )

#269,446
Jan 21, 2011 1:49am Jan 21, 2011 1:49am

chazzle
Joined Sep 2010 | Status: Trader | 11,327 Posts

Morning BB - notice you normally finish quite early - do you do 2 hrs euro opens usually?

#269,447
Jan 21, 2011 1:52am Jan 21, 2011 1:52am

onewish
| Joined Aug 2009 | Status: past price-shows-future price | 224 Posts

Quoting 45Condor

Disliked

With you on this.

...and currently, and nice compression forming on the 5 and 15min charts for Cable - I use Guppy profile in its original format - with but some 10 minutes to London open. A regular occurrence.

Ignored

condor,

do you have a mt4 version of this indi please, thx

#269,448
Jan 21, 2011 1:52am Jan 21, 2011 1:52am

bbmac
Joined Jul 2007 | Status: Trader | 5,392 Posts

Quoting chazzle

Disliked

Morning BB - notice you normally finish quite early - do you do 2 hrs euro opens usually?

Ignored

Hi mate G/M, I generally trade till I get my soft daily target (1/5 of my hard weekly target) and then stop unless I am in mood to do some more...once or twice a month I'll come back in the afternoon for 1hr around U.s data like NFP...but generally I like to limit any time at screens to as little as I have to do...ie 4hrs each day or less generally, (work to live not live to work) One of the great advantages of trading is it's exponentiality, ie we don't have to sell hours like wage slaves so if we want to earn more I see no point in doing more hours, just trade more margin in the same number of hours.

G/L

ex member

#269,449
Jan 21, 2011 1:59am Jan 21, 2011 1:59am

chazzle
Joined Sep 2010 | Status: Trader | 11,327 Posts

15960 would be pretty sweet for an entry - if it gets there

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#269,450
Jan 21, 2011 2:06am Jan 21, 2011 2:06am

bbmac
Joined Jul 2007 | Status: Trader | 5,392 Posts

Quoting chazzle

Disliked

15960 would be pretty sweet for an entry - if it gets there

Ignored

area to 5943 1st upside hurdle I guess, supply has been seen there..testing it now...above there unbreeched fibs of the moves down to 5835 from 6059, 6036 and 6009 and the descending 1hr trend lines ahead of that area up to 6009 previous 1hr/4hr swing hi zone,...is what I am see-ing.

G/L

ex member

#269,451
Jan 21, 2011 2:08am Jan 21, 2011 2:08am

45Condor
Joined Aug 2009 | Status: Technical fundamentalist | 2,202 Posts

Hi Onewish.

I don't have an indicator as such - there are many. I have many notes and docs on Daryl Guppy, and trading the profile etcetera. It can be found here with FF and also via Google.

I've attached a doc with a basic outline. First page gives the EMA settings that I use.

I just built it myself, and then saved as a template within mt4.

I tend to use targets based off a 4hr chart with Fibonacci studies of the major swings, and use the 5/15min TF for entries.

Quoting onewish

Disliked

condor,

do you have a mt4 version of this indi please, thx

Ignored

Attached File(s)

Getting the GMMA right.doc 78 KB | 336 downloads

Author of: For Pip's Sake! (Available at Amazon... :-) )

#269,452
Jan 21, 2011 2:12am Jan 21, 2011 2:12am

onewish
| Joined Aug 2009 | Status: past price-shows-future price | 224 Posts

Quoting 45Condor

Disliked

Hi Onewish.

I don't have an indicator as such - there are many. I have many notes and docs on Daryl Guppy, and trading the profile etcetera. It can be found here with FF and also via Google.

I've attached a doc with a basic outline. First page gives the EMA settings that I use.

I just built it myself, and then saved as a template within mt4.

I tend to use targets based off a 4hr chart with Fibonacci studies of the major swings, and use the 5/15min TF for entries.

Ignored

Many thanks

#269,453
Jan 21, 2011 2:12am Jan 21, 2011 2:12am

chazzle
Joined Sep 2010 | Status: Trader | 11,327 Posts

Quoting chazzle

Disliked

15960 would be pretty sweet for an entry - if it gets there

Ignored

I'll try one at 15940 - but will also go 15960 should it get there

#269,454
Jan 21, 2011 2:17am Jan 21, 2011 2:17am

bbmac
Joined Jul 2007 | Status: Trader | 5,392 Posts

Quoting chazzle

Disliked

I'll try one at 15940 - but will also go 15960 should it get there

Ignored

I have that 61.8% 6009-5835, 100sma - 1hr and that previous 1hr swing hi zone there (5943 area), but no set-up to short (doesn't mean it won't go down from there, just that i have no set-up on my methodology) so no short enty for me there. G/L with it.

ex member