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Cable Update (GBPUSD)

  • #275,041
  • Mar 30, 2011 10:33am Mar 30, 2011 10:33am
Quoting bbakker
Sure is!!!

Silver

Attachment

This was a confirmation trade!
nice. I've never looked at correlations with silver.I'm just now starting to understand how the s&p plays off some pairs, just don't know all of them and on what timeframes. For a while i scalped gold with my oanda account, but since they FINALLY got mt4 () I scalp 1-5 pips per trade on fibre for hours on end. That's really nice with some of magix' templates,espicially the 1sc. I'm loosing sleep and missing some of my classes to the point where I will probably be on academic probation, but at this rate I can afford to take a semster or two off.
How do you use the silver charts if you don't mind me asking.
  • #275,042
  • Mar 30, 2011 10:40am Mar 30, 2011 10:40am
Quoting Ineedpips9
nice. I've never looked at correlations with silver.I'm just now starting to understand how the s&p plays off some pairs, just don't know all of them and on what timeframes. For a while i scalped gold with my oanda account, but since they FINALLY got mt4 () I scalp 1-5 pips per trade on fibre for hours on end. That's really nice with some of magix' templates,espicially the 1sc. I'm loosing sleep and missing some of my classes to the point where I will probably be on academic probation, but at this rate I can afford to take a semster or two...
Silver is more correlated to AUDUSD and S&P, but correlations are never 100% and sometimes they are correlated and at other times they are not correlated. In the end, I trade each instrument for the instrument it is and use correlation as a confluence factor.

I trade based on demand/supply using price action with MAs as a visual aide (compression and extension) and knowing that 200ma is a key MA (between different timeframes). I throw the CCI on there for overbought and oversold indication but never use it for the trigger.

Nothing more, nothing less!
  • #275,043
  • Mar 30, 2011 10:56am Mar 30, 2011 10:56am
Quoting bbakker
Silver is more correlated to AUDUSD and S&P, but correlations are never 100% and sometimes they are correlated and at other times they are not correlated. In the end, I trade each instrument for the instrument it is and use correlation as a confluence factor.
Yea from watching cnbc and the little research that I've done I know that silver is correlated with the aussie pairs because it is big there. I do love my audusd.Just like cable but for some reason seems "smoother".

I trade based on demand/supply using price action with MAs as a visual aide (compression and extension) and knowing that 200ma is a key MA (between different timeframes). I throw the CCI on there for overbought and oversold indication but never use it for the trigger.

Nothing more, nothing less![/quote]
gotcha. I too use the 200ma as probably my biggest key factor and one of my main and most reliable strategies is using it on the larger timeframes to get the overall direction and then take trades off the 200ma on the 1m and 5m tf.Five days a week (and sometimes sunday night) I take at least one trade using this strategy on audusd cable and fibre. I've tried all my strategies on both dollar/yen and dragon and always get burned.
By any chance do you know where I could read more about how commodities and different exchanges influence forex?
  • #275,044
  • Mar 30, 2011 11:23am Mar 30, 2011 11:23am
Quoting redbeben
my platform eats some 232,536 K which is a lot more than the 8 MB
the mem shows a constant 1.81-1.82 GB of usage.
Windows vista for this one .

the bad thing is that even if I open a new chart with no indies on it the platform still has the same RAM appetite so I guess it is not only the indies

actually after closing 3 charts I had opened in the bar the platform became hungry-er...
as said before upgrade to windows 7.

Sounds like a memory leak in your platform. Contact your broker.
  • #275,045
  • Mar 30, 2011 11:56am Mar 30, 2011 11:56am
So can can this hold above 1.6050?
  • #275,046
  • Mar 30, 2011 1:03pm Mar 30, 2011 1:03pm
Quoting Ineedpips9
By any chance do you know where I could read more about how commodities and different exchanges influence forex?
Try reading the following books -

Intermarket Analysis: Profiting from Global Market Relationships (John J Murphy):
http://www.amazon.co.uk/Intermarket-.../dp/0471023299

Financial Institutions and Markets, International Edition (Jeff Madura):
http://www.amazon.co.uk/Financial-In...1507846&sr=1-4

Hot Commodities: How Anyone Can Invest Profitably in the World's Best Market (Jim Rogers):
http://www.amazon.co.uk/Hot-Commodit...ref=pd_sim_b_1
  • #275,047
  • Mar 30, 2011 1:11pm Mar 30, 2011 1:11pm
Damn, my internet went down since monday on US session. Still been on that long trade on GBPUSD at 1.5990 SL 1.5899

Just closed now at 1.6060 for a 70pip..

Wheew..7000$ atleast.
To Your Success!!
  • #275,048
  • Mar 30, 2011 1:51pm Mar 30, 2011 1:51pm
Quoting ndsouz
Damn, my internet went down since monday on US session. Still been on that long trade on GBPUSD at 1.5990 SL 1.5899

Just closed now at 1.6060 for a 70pip..

Wheew..7000$ atleast.
I bet your cheeks were flapping during this 'down' time... lol

Well played this time round... just be careful. Remember, trading is not about the money... it is a by-product of becoming a master trader!

http://www.learntotradethemarket.com...1dot3OUhqXwtMW
  • #275,049
  • Mar 30, 2011 2:31pm Mar 30, 2011 2:31pm
Quoting bbakker
Try reading the following books -

Intermarket Analysis: Profiting from Global Market Relationships (John J Murphy):
http://www.amazon.co.uk/Intermarket-.../dp/0471023299

Financial Institutions and Markets, International Edition (Jeff Madura):
http://www.amazon.co.uk/Financial-In...1507846&sr=1-4

Hot Commodities: How Anyone Can Invest Profitably in the World's Best Market (Jim Rogers):
http://www.amazon.co.uk/Hot-Commodit...ref=pd_sim_b_1...
Gotcha.Thanks.
  • #275,050
  • Mar 30, 2011 2:31pm Mar 30, 2011 2:31pm
Hey Traders,

GbpUsd has fallen from a peak of 1.6400 on 3/22/11 to a low of 1.5936 on 3/28/11, now bouncing up from that low to a current position of 1.6076 as of today, 3/29/11 (3:12 pm New York). Technicals suggest traders should expect a continue move upward to 1.6135, 1.6170 and potentially 1.6251.

Being that I'm a technical trader I can't say how or to what degree NFP upon release this Friday, April 1st will effect the cable move as it trys to build upward momentum.

But for now I'm long GbpUsd and will continue to hold my long positions until the price targets as mention above are reached.

MetricTrader
  • #275,051
  • Mar 30, 2011 2:36pm Mar 30, 2011 2:36pm
Quoting bbakker
I bet your cheeks were flapping during this 'down' time... lol

Well played this time round... just be careful. Remember, trading is not about the money... it is a by-product of becoming a master trader!

http://www.learntotradethemarket.com...1dot3OUhqXwtMW
Beautiful link. Thanks B. Bookmarked.!
All systems of divination, like music itself,work through patterns.
  • #275,052
  • Mar 30, 2011 2:38pm Mar 30, 2011 2:38pm
A major player to watch as GbpUsd makes a move upward is Eurusd. EurUsd's price level 1.4405 is the key to knowing whether or not EurUsd and GbpUsd will continue their move upward for most of the year. It is my opinion that if EurUsd can't reach or maintain 1.4405, then back down in a serious fashion we go and I'm speaking about both EurUsd and GbpUsd.

MetricTrader
  • #275,053
  • Mar 30, 2011 3:01pm Mar 30, 2011 3:01pm
1.6250 is more likely now
  • #275,054
  • Mar 30, 2011 3:08pm Mar 30, 2011 3:08pm
Quoting redbeben
time's up
let's see where this will go from now on....but here is so hot and I am so thirsty

ichi cross again on M5 so slowly we might have eventually the H4 one as well.so we might see the 1.6140 afterall but I see the next R at 1.606X-7X for now.

I'll be running home in half an hour so I'l have a nap for now.my head is about to explode

just came home after walking the dogs and shopping and found another part of my longs closed at 1.6065.now I can sleep well.

frankly I still think we will go to the 1.614 first as the H4 cross is nearly done.if that one will be done there's little else to stop a move to that level first.
second level is 1.62 and maybe 1.625 before another down

only time will tell when we will drop to 1.575 at least but we will be there at one point.

bbakker-thanks for the tips but I cannot change the OS on the comp in the office.company policy so I am stuck with that.
as for the platform I only have one chart on the screen.

there is a problem anyway as back home on the laptop it only consumes 101,000 K so....

nav-thanks for the vouch.I will try to keep up and make you proud
  • #275,055
  • Mar 30, 2011 3:19pm Mar 30, 2011 3:19pm
Quoting MetricTrader
Hey Traders,

GbpUsd has fallen from a peak of 1.6400 on 3/22/11 to a low of 1.5936 on 3/28/11, now bouncing up from that low to a current position of 1.6076 as of today, 3/29/11 (3:12 pm New York). Technicals suggest traders should expect a continue move upward to 1.6135, 1.6170 and potentially 1.6251.

Being that I'm a technical trader I can't say how or to what degree NFP upon release this Friday, April 1st will effect the cable move as it trys to build upward momentum.

But for now I'm long GbpUsd and will continue to hold my long positions...
I tend to agree. Hope it stays in one direction instead of all this yo yo motion we had earlier this week.
  • #275,056
  • Mar 30, 2011 3:32pm Mar 30, 2011 3:32pm
Quoting ferndog
I tend to agree. Hope it stays in one direction instead of all this yo yo motion we had earlier this week.
NFP week can often be rang-ey. I'm long-biased, but still looking for a pull-back, maybe thur night or fri morn.
  • #275,057
  • Mar 30, 2011 4:28pm Mar 30, 2011 4:28pm
2 lots, 50 each pips so far
Quoting SannaCBranno
Thanks for your analysis, I'm a medium term trader- week, 3 weeks.

Throw my fibs on weekly, analyze on daily.
  • #275,058
  • Mar 30, 2011 8:42pm Mar 30, 2011 8:42pm
Quoting bbakker
I bet your cheeks were flapping during this 'down' time... lol

Well played this time round... just be careful. Remember, trading is not about the money... it is a by-product of becoming a master trader!

http://www.learntotradethemarket.com...1dot3OUhqXwtMW
nice article till finally i heard he say "I am currently Offering A Special Discount on My Price Action Trading Course. To Find out More Visit bla bla bla.. " idiot..,did he really 'able' to make money in forex or not???
I will be the number one Manager.
  • #275,059
  • Mar 30, 2011 8:44pm Mar 30, 2011 8:44pm
Been in this ride since 1.60501 up quite a few pips and looking at some consolidation on the M5. ( currently 1.61029). Should I take my stash and run or stay on this ride? My trendlines and fibs are really not helping me at the moment althought they are what got me into this profitable mess in the first place.
  • #275,060
  • Mar 30, 2011 9:17pm Mar 30, 2011 9:17pm
Quoting pipmix
Been in this ride since 1.60501 up quite a few pips and looking at some consolidation on the M5. ( currently 1.61029). Should I take my stash and run or stay on this ride? My trendlines and fibs are really not helping me at the moment althought they are what got me into this profitable mess in the first place.

stop trading with M5.
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