Cable Update (GBPUSD)

so what do think with that..i'm fool about ichimoku..

btw i got some clue...i'm short, see you..

I can't speak for ichimoku , I have no experience using it but...
theres a reason why oscillators say overbought ... everybody's buying
and they can remain OB while accounts get trashed ...

which H4 candle? 12:00 - 16:00 gmt - it's still current , looking like a spinning top atm , although I don't know which timezone you are...

Regarding stochastics - have a look at this - when price makes a double bottom in an uptrend and stochs are oversold - its a good indicator to go long and vice versa and obviously works better if you can get it with MA bounce round number , and bullish candle formations - have a look back at H4 charts and find some examples ...

i also see a main level near 6455
price shud not get below 6340 now... previous main resistance now must show support power.

am i wrong?

and here is the way I enter the trades on countertrend

meaning I have a look at the main trend on H1 and H4 and I jump on the M5 or M15 if I have the same story told by the indies...otherwise we will have 'little red snowhite''

so please have a look at the previous chart on H4 and this one on M15 showing the entry.

don't mind the red arrows even if they are accurate here them alone won't work.try them out if you wish.

the way I do it


when price approaches a big S or R level I look at the charts.they will tell me if the price needs an equilibrium or not(afterall ichi is all about equilibrium)

the way ichi works.first a flat KS(blue)line will attract the price and a flat cloud on the smallest TF.

then the price will touch the flat line(depending how far it is you can even choose it as TP)and will bounce back .
it will only bounce back as the next time frame needs a cross of the red and blue line and only the red one cannot do the job alone so the blue one has to go up as well so they can meet in halfdistance.

and we will have this bounce up down up down untill we will have all the crosses on the other direction.

I mean you will never have a move all the way up or all the way down as the price needs to be balanced.

off course chaz has a point here with a market like this but the more crossings we have on higher TFS we will have a bigger pullback....

this is the sort of explanation I can offer in regards to my experience with ichi so far.

for more info I can send some ichi materials as ebooks where you have more graphs in details and explanations ..more scientific ones not those lousy ones

anyway if price brakes the M5 cloud now and with the forming of a negative cloud now ...we might have quite some negative crosses

M5 already formed M15 is about to come.

but we have the same R levels we had this morning that we have to go down as S now )


I feel I am a kid again and I am in a roller coaster weeeeeee.....we go upppp and dowwwwnnnnnnn

Anyone else developing a nasty habit of cursing at the charts at the top of their lungs?

went long on cable at 1.63162, i am more of a long term trader than the short term,hence i can see myself entering this trade a bit late but i just felt i can scalp some pips out of the market.i have closed first position at 53 pips (1.63669) and leaving my other position to run.lets see where this baby is going to get to.

I wouldn't say you are wrong at all, but I hoping 6340 becomes a trap door that swings open to the basement, at least for today.

actually the uploaded indy gave 2 accurate signals in the last 30 min

good for scalpers

give it a go

i thought you were short from 16390s ?

is there a bull flag in m5?

I was thinking more of a shooting star(I did research on google and found the name of what I think it will form in 30 min)

could you please teach me what you just said up here with the stochs.I mean doublebottom on what TF?only on H4? can you please post a chart when you have some spare time ?

too late about the shooting star.it might be a doji or a spinning top as you mentioned before.sorry for the error now it went to low to be a shooting star anymore

cheers,

Yeah... but I'm not the most patient trader. I'm not looking to score a home run. I did name all my charts ....counter.

as I can see from the chart Cable is unable to break the resistance line of 1.6400, is it the right time to short , right now ?

this is the kind of thing I'm talking about - but the more reasons you can get for going long/short to converge (as I said earlier , favourable candle patterns etc) the better

probably even more on here but I'm in a rush now and have to leave - pull up some charts and try it yourself , see you later

ps Yes , i think HTF more reliable , would suggest H4 and above , possibly H1 , certainly no lower - backtest it

In case you're all wondering, this is what the range looks like when it's dictated by atm's.

We need them to make money... but seriously, today market makers can all go to hell.

i agree

Hi all, this is my first message on this thread hello. I have recently been looking at the price movement of the cable and have thought of a very simple but possibly an effective strategy... It involves abit of money management and abit of martingale and could be very effective so want to share with you for some feedback... Let me know if you are interested then I will post on here... Cheers

Be aware we are still in uptrend...

Anyone here who trades the 5EMA and 21EMA cross?
It predicted the rally well from 17th March (both on the H1 and H4) and still hasn't shown any exit signals for long positions? Whats your take guys?
However on the M15 it gets tricky....i've gotten a few dummies today.