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Cable Update (GBPUSD)

  • #273,381
  • Mar 2, 2011 9:29am Mar 2, 2011 9:29am
Quoting redbeben
the butterfly does not work all the times don't follow only this indie.combine in with another analyse like RSI and stochs.

yesterday for example the charts were full of butterflies on all the TFS but still the price went up

but it's nice to have a piece of nature on the screens
This one works because it is combined with my (horizontal) levels of support/resistance.
Happy trading on the short side of GU.
Meshach.
  • #273,382
  • Mar 2, 2011 9:32am Mar 2, 2011 9:32am
Quoting forexcompoun
This one works because it is combined with my (horizontal) levels of support/resistance.
Happy trading on the short side of GU.
Meshach.
that's the spirit
  • #273,383
  • Mar 2, 2011 9:36am Mar 2, 2011 9:36am
Quoting redbeben
the butterfly does not work all the times don't follow only this indie.combine in with another analyse like RSI and stochs.

yesterday for example the charts were full of butterflies on all the TFS but still the price went up

but it's nice to have a piece of nature on the screens

my charts were full of CATS ihihiih
im joking!
surely 6340-6350 is a resistance area.... lets see if retraces below 23%
90% of traders use TA, indicators and prediction
  • #273,384
  • Mar 2, 2011 9:42am Mar 2, 2011 9:42am
Quoting _BBKing_
my charts were full of CATS ihihiih
im joking!
surely 6340-6350 is a resistance area.... lets see if retraces below 23%
6420 :nerd:
Thank You
  • #273,385
  • Mar 2, 2011 9:44am Mar 2, 2011 9:44am
Quoting _BBKing_
my charts were full of CATS ihihiih
im joking!
surely 6340-6350 is a resistance area.... lets see if retraces below 23%
as I said in some previous posts each trader sees what he wants to see in his indies.
some use the butterflies some the ''cats'' ) and some the fibo

I don't even use anymore the S and R levels drawn by brokers and anyway I don't use even my own ones as you have to adjust to the market.

meaning that for ex you have a resistance level at 1.6300 and it's been there once,twice untill some traders decide to sell the longs they have some pips in advance and here we have a massive drop instead of a penetration of the R level....

a good example is the butterfly we talk about here on the M5....my R level is drawn under the top price.1 5 min candle closed above this line.
the price went down from that R line only 13 pips...I would not risk it for this move as the broker takes 3 pips away and I only get 10 pips a bit too risky in this area

Buy cheap sell expensive as the rule said.
this is a zone with less up move and more sideways.
knowing that the price still has to go to 1.6360 I still don'w want to sell now.I already have my sells open so today I sit and wait.already cashed in 60 pips this morning while sleeping on the moves I predicted yesterday.
  • #273,386
  • Mar 2, 2011 9:47am Mar 2, 2011 9:47am
the butterfly spread the wings even higher
a bit higher and they will be fried by the sun )
  • #273,387
  • Mar 2, 2011 9:59am Mar 2, 2011 9:59am
Quoting wormboy
it's not gonna stop @6350 bro. just buy the damn thing
I'm no follower, but if I were, I'd surely seek that
'wormhole' wherever it exists in the forex universe.

Dr. D.

"and if one day I should drown in a fast moving
current, try looking up stream for my remains."
  • #273,388
  • Mar 2, 2011 10:02am Mar 2, 2011 10:02am
Quoting wormboy
6420 :nerd:
uhm...
these are my charts

one you can see peaks in january which i use as sup/res
coz if price found resistance once, will find again now.

the other is a weekly study seen on a daily chart
there is a channel n a possible peak near 6470

am i missing something?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gusdd1.jpg Size: 112 KB
Click to Enlarge Name: gusdd1_2.jpg Size: 116 KB
90% of traders use TA, indicators and prediction
  • #273,389
  • Mar 2, 2011 10:04am Mar 2, 2011 10:04am
Quoting redbeben
done next target for the longs 1.636 later
retrace still to come
daily Stochs overbought and the dollar will be the king of the prom

I still have my 1.61,1.60 shorts open
Hi bro, I had the position like yours.
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #273,390
  • Mar 2, 2011 10:08am Mar 2, 2011 10:08am
Quoting wormboy
reason for that is the strong uptrend on the htf, so naturally buying is always the easier trade.
Here's a friendly advise, the next time you want to scalp the M1 or M5, scalp in the direction of the htf & ignore the retrace. Less hair pulling & more profit.
I like this daily chart.
Look at the clean EMA separation.

Dr. D.
Attached Image
  • #273,391
  • Mar 2, 2011 10:09am Mar 2, 2011 10:09am
Quoting _BBKing_
ok i downloaded n installed.
happy to see on the meanwhile i did this... my gbp long @ 6298 doing good

how does that mcandles runs? buy in green area n short in red area or am i missing something? :nerd:
Yup... Correct

Signal BUY if (SHADOW) Colour is GREEN... this mean H4 Candle move in UP
Signal SELL if (SHADOW) Colour is RED... this mean H4 Candle move in DOWN

And can CHANGES Sett in (SHADOW) H1 Candle for Use M5 TF. I was tested. Workwell too...
Always looking the GREAT, never left GOOD Point...
  • #273,392
  • Mar 2, 2011 10:13am Mar 2, 2011 10:13am
Quoting Tsar
Yup... Correct

Signal BUY if (SHADOW) Colour is GREEN... this mean H4 Candle move in UP
Signal SELL if (SHADOW) Colour is RED... this mean H4 Candle move in DOWN

And can CHANGES Sett in (SHADOW) H1 Candle for Use M5 TF. I was tested. Workwell too...
ok
so using it on the download setup is better use in 15m n 30m timeframes?
90% of traders use TA, indicators and prediction
  • #273,393
  • Mar 2, 2011 10:14am Mar 2, 2011 10:14am
Quoting Bruce Flea
One would be going in the hole at .62 pips a day to leave a short open.

One standard sized lot would cost $174.00 in the swap, to leave open for 28 days.

One mini lot would of course be $17.40.

Stubbornly holding on to your shorts in a strong
updraft looks as silly as it is impractical.

Dr. D.
  • #273,394
  • Mar 2, 2011 10:22am Mar 2, 2011 10:22am
(gold is going JUST A BIT up)
90% of traders use TA, indicators and prediction
  • #273,395
  • Mar 2, 2011 10:24am Mar 2, 2011 10:24am
Quoting wormboy
6420 :nerd:
Need more Patient, Bro...
CABLE Not touch in Today or Tommorow, but Possible in FRIDAY

G/L
Always looking the GREAT, never left GOOD Point...
  • #273,396
  • Mar 2, 2011 10:26am Mar 2, 2011 10:26am
Quoting wormboy
why don't you tell us something we don't know
sorry Fren this is what i obtained and observed within this 2weeks,
I am so embarass, to put down and share my experience...

Forex Trading begun11November2010.

Best of Luck.
  • #273,397
  • Mar 2, 2011 10:27am Mar 2, 2011 10:27am
i close today long here..,still hope to touch 1.64 but too afraid losing profit...money is money.. mode on..
I will be the number one Manager.
  • #273,398
  • Mar 2, 2011 10:35am Mar 2, 2011 10:35am
Quoting _BBKing_
ok
so using it on the download setup is better use in 15m n 30m timeframes?
In ASIA Market's Setup (SHADOW) H1 use M5 TF
because ASIA Market's always SLOWLY move.

In LONDON Market's Setup (SHADOW) H4 use M15 TF
because LONDON Market's often FASTER move.

I'm NOT tested for use M30, Bro...
Always looking the GREAT, never left GOOD Point...
  • #273,399
  • Mar 2, 2011 10:39am Mar 2, 2011 10:39am
Quoting Tsar
In ASIA Market's Setup (SHADOW) H1 use M5 TF
because ASIA Market's always SLOWLY move.

In LONDON Market's Setup (SHADOW) H4 use M15 TF
because LONDON Market's often FASTER move.

I'm NOT tested for use M30, Bro...

OK!
tks a lot!
90% of traders use TA, indicators and prediction
  • #273,400
  • Mar 2, 2011 10:41am Mar 2, 2011 10:41am
Quoting javapips
i close today long here..,still hope to touch 1.64 but too afraid losing profit...money is money.. mode on..

me too closed @6336
90% of traders use TA, indicators and prediction
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