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Cable Update (GBPUSD)

  • #271,441
  • Feb 9, 2011 9:32am Feb 9, 2011 9:32am
Quoting deryworlds
Agreed but baby they cancel the South For Today perhaps Friday

we'll have a pull back I expect with a TP to aprox 1.6085-75

we need to confirm the H1 trend pierce

but i'm not sure if it will go first to 1.6130 or not...my indies tell me sell sell sell but I'm afraid of sharks and their sharp teeth on my butt

Inserted Video
  • #271,442
  • Feb 9, 2011 9:34am Feb 9, 2011 9:34am
Quoting fourxtrader
Do you strictly stick to the Guppy profile of 12 lines (3-15 and 30-60) for your EMA spread?...
Yes, I do tend to stick with the classical Guppy EMA spreads, and use them in multiple TFs, always bearing in mind the different information that they present via the TF studied.

I think my preferred method is best summed up with this link to an answer I gave to someone else.

http://www.forexfactory.com/showpost...&postcount=323
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #271,443
  • Feb 9, 2011 9:38am Feb 9, 2011 9:38am
Short again @ 1.61188 based on possible USDX-support

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Don't be a hero. Don't have an ego. Always question yourself
  • #271,444
  • Feb 9, 2011 9:40am Feb 9, 2011 9:40am
I do not disagree. Perhaps I should rephrase and state the range from London open to Bernanke gob open, was fit only for scalps (scalps in this sense being 10 to 30 pips). After which, and assuming one caught that 15min pin - or equivalent signal - a trade more than a scalp could have been attempted.

However, ask yourself this, did you know what Bernanke was going to say? Of course, one could equally ask the same of news releases, etcetera. With such poor trend direction on display, the best part of today has been more of a gambler's day than anything else... we are all gamblers, but gamble via analysis and projection, not just hunch, for the most part.

Quoting JanPoko
I would hardly call the daily range of 90 pips reached so far a market good for scalping only. I managed to leverage my entry down to 1.6045 so I do not complain, indeed.
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #271,445
  • Feb 9, 2011 9:44am Feb 9, 2011 9:44am
Quoting redbeben
hi again sorry to intervene here

just looking at the analysis wrote today by all the traders here and I agree with most of them.

what I don't agree is that today we have to trade
all the moves made today were made by the sharks.look at the last up move...I mean I had my longs that I closed for 60 pips now but still my small money could not lift the price that much

so....except for those up and down moves we only had some sideways and little candles.

not a good market to jump into....I had mine opened at the 5days low ...same as...
Great point. . . we mustn't trade everyday. If the visibility is not good, why fly? Hard earned money is as sweet as life itself

Peace
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #271,446
  • Feb 9, 2011 9:46am Feb 9, 2011 9:46am
Hey DR. D..

Just a shout-out, your MA compression template got me into a nice long today, thanks.
  • #271,447
  • Feb 9, 2011 10:00am Feb 9, 2011 10:00am
Quoting wormboy
you know there are no bears in these moves ...... just these fellas .....
ha!
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Thank You
  • #271,448
  • Feb 9, 2011 10:24am Feb 9, 2011 10:24am
Cable being squeezed into a triangle on the 4 hour now.

http://i1137.photobucket.com/albums/...s/Capture4.jpg
  • #271,449
  • Feb 9, 2011 10:24am Feb 9, 2011 10:24am
Quoting USD-Bear
Short again @ 1.61188 based on possible USDX-support

Attachment

Attachment
Collected 30 pips at 1.6088 just above dpp
Don't be a hero. Don't have an ego. Always question yourself
  • #271,450
  • Feb 9, 2011 10:34am Feb 9, 2011 10:34am
Bulish outside bar - trying to catch it long,

Peter
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Jesus Christ is my only Lord !
  • #271,451
  • Feb 9, 2011 10:47am Feb 9, 2011 10:47am
Quoting Low
Hey DR. D..

Just a shout-out, your MA compression template got me into a nice long today, thanks.
Congrats!

Don't hide your light under a bushel.
Show a c.chart of your success.

Dr. D.
  • #271,452
  • Feb 9, 2011 10:47am Feb 9, 2011 10:47am
Quoting USD-Bear
Collected 30 pips at 1.6088 just above dpp
USD-Bear

I like your style mate. So use the Dollar Index on the 5 hour timeframe in correlation with the currency pair you're trading. You saw possible support at 77.72 on the DI, and after a over extension of price long on cable you decided to short it. Plus price had stalled, hit top trend line on 4 hour and mid R1 on 5min.

When you break it all down like that then it makes for a high probablity trade. I see it clear as day yet I'm still making silly mistakes. Think I might change from 5 min to 15 min timeframe for entries you know.

Cheers
Mark
  • #271,453
  • Feb 9, 2011 10:53am Feb 9, 2011 10:53am
Quoting mcornbill
USD-Bear

I like your style mate....
correct, we have to be flexible on TF's imo and look where to find the relations. I think we all should talk more about USDX if USD includes the pair it's influence is mostly the largest.
Don't be a hero. Don't have an ego. Always question yourself
  • #271,454
  • Feb 9, 2011 10:57am Feb 9, 2011 10:57am
Quoting fourxtrader
Congrats!

Don't hide your light under a bushel.
Show a c.chart of your success.

Dr. D.
It was only 20 pips on EU, and I didn't think that belonged on a pound thread, but your EMA's show the EU wants to go higher still. Hell, I'm long again.

Unfortunate that EU was an underperformer relative to some others, but green pips always beat red pips, and I have to go to work soon, so time to close up shop.

http://i1084.photobucket.com/albums/...02-09_0854.png
  • #271,455
  • Feb 9, 2011 11:09am Feb 9, 2011 11:09am
I don't know if anybody's gonna give a s**t about this, but I tell ya, I've taken 1000 pip trades, and watched +500 pips evaporate to zero telling myself that "patience pays"....and while that may be true for entries, exits are a different thing altogether.

This game for me has gotten easier since I started caring more about my account balance and real dollars the some arbitrary number of pips.

Sure, some traders will think I'm not "letting my profits run", but if I'm pulling cash out of the market most days, I don't see how it matters.

And yeah, I'm out of my EU long for 20 more because now I have to go to work (earning more, real cash).

Happy trading.
  • #271,456
  • Feb 9, 2011 11:21am Feb 9, 2011 11:21am
Quoting Low
I don't know if anybody's gonna give a s**t about this, but I tell ya, I've taken 1000 pip trades, and watched +500 pips evaporate to zero telling myself that "patience pays"....and while that may be true for entries, exits are a different thing altogether.

This game for me has gotten easier since I started caring more about my account balance and real dollars the some arbitrary number of pips.

Sure, some traders will think I'm not "letting my profits run", but if I'm pulling cash out of the market most days, I don't see how it matters.

And...
were in the same boat as you and although it's beautiful to read about position trades with 500+ profits, volatility is too large.
Problem is chasing those needs to involve very low leverage which doesn't make the trade exciting. I'm a little in the middle, often not a scalper and not a position trader. Think they call it a swing trader, but not sure
Don't be a hero. Don't have an ego. Always question yourself
  • #271,457
  • Feb 9, 2011 11:36am Feb 9, 2011 11:36am
Quoting Low

This game for me has gotten easier since I started caring more about my account balance and real dollars the some arbitrary number of pips.
It really is hard to go broke taking profit...

Great post here my friend...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #271,458
  • Feb 9, 2011 12:09pm Feb 9, 2011 12:09pm
Quoting redbeben
we'll have a pull back I expect with a TP to aprox 1.6085-75

we need to confirm the H1 trend pierce

but i'm not sure if it will go first to 1.6130 or not...my indies tell me sell sell sell but I'm afraid of sharks and their sharp teeth on my butt
touche ...
  • #271,459
  • Feb 9, 2011 12:43pm Feb 9, 2011 12:43pm
50% retrace.

TL should hold.
  • #271,460
  • Feb 9, 2011 12:45pm Feb 9, 2011 12:45pm
My apologies.

Here is the picture.
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