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Cable Update (GBPUSD)

  • #275,701
  • Apr 7, 2011 9:49am Apr 7, 2011 9:49am
Quoting nAVIN2007
yip mr t..i guess the same..
Good day to you, Bro..

Hope you are well. What's the charts saying on your side of the ocean?

Hmm?
  • #275,702
  • Apr 7, 2011 9:54am Apr 7, 2011 9:54am
what is your bet for the rate to drop below 1.620?
  • #275,703
  • Apr 7, 2011 9:58am Apr 7, 2011 9:58am
Quoting TauTrader
Good day to you, Bro..

Hope you are well. What's the charts saying on your side of the ocean?

Hmm?
im trying to short of what i think is resistance..but its pretty much a 50:50 thing bro id be happy to see 1.60...and exit..LOL
Attached Image (click to enlarge)
Click to Enlarge Name: chart3.jpg Size: 83 KB
  • #275,704
  • Apr 7, 2011 10:07am Apr 7, 2011 10:07am
where is DR D..,
i thought he would say, "5 minute compression, enough energy to send it etc etc etc...."

miss you Dr, where are you..


java,
I will be the number one Manager.
  • #275,705
  • Apr 7, 2011 10:18am Apr 7, 2011 10:18am
Quoting nAVIN2007
im trying to short of what i think is resistance..but its pretty much a 50:50 thing bro id be happy to see 1.60...and exit..LOL
I see...

On my 15 min, I do see a very, very slight bearishness coming in over the next few days. But I am sniping only, as price is smack bang in the middle of nowhere..

I was actually expecting 1.6350 now - and we could still go there. But I was willing to short in the 1.6340 area as per my earlier post. Pulled the trigger @ 1.6332 - prematurely I think, but had to get in for the planned short.

Smaller-than-normal position, as my thinking was to add @ 1.6350 to at least get my 1.6340 ish average while we were up there.Am now going to lock in 2 pips or so and rather re-enter higher, should I get stopped out and all the rules are still in place.

Good luck, my friend

Regards
  • #275,706
  • Apr 7, 2011 10:18am Apr 7, 2011 10:18am
Quoting nAVIN2007
forget the entery focus on the money management my friend..u sound far to stressed..it aint worth yur health..

downsize yur position..cable is in a range bouncing from one end to the other..theres no direction except the bounces of the friggin areas..
Great thks for ur advice, both for FX and my health. in good days, I usually indecisive to take action, then pity. In bad day, like sideway today, I stronger to jump in . then depressed when lost. Or when trend changes (short term move, coz I am daytrading) my mind didn't change in time . My mind easy to be messed up when situation changes too fast and take wrong trade. I still struggle with myself everyday. If not, i give up FX long time ago . Dear bro, if u don't mind can I sometime disturb u with some PMs. Just learning.
  • #275,707
  • Edited 12:02pm Apr 7, 2011 10:21am | Edited 12:02pm
I have said it several times in my previous posts, it is always helpful to have the bigger picture in mind when trading.

For the past 10 weeks the cable has been trading withing a 450 pips range. For 11 weeks, it has been Bull+Bear+Bull+Bear, etc, the only exception being last week and this week which is currently Bull+Bull. If the pattern is to continue this week's candle might end up being a bear. The pair has thus create a 450 pips concrete zone. This a strong manifestation of consolidation between 1.60000 and 1.64000, the middle of the zone is somewhere around 1.62000. To break out of this zone, a weekly candle needs to open and close the zone.

How do you trade concrete zone? Short as near as possible to the top of the zone and go long as near as possible to the base of the concrete zone using H4 candle as guide and M15 for the best entry. As for stop loss, set them outside the zone (It can as low as 3 pips or as high as 50 pips depending on your risk appetite). A false breakout outside the zone of about 50 pips is possible. Trading this way, you avoid chasing every price movement. It is most profitable and less stressful to have the bigger picture in mind.


I attach the weekly, daily and H4 charts clearly illustrating the above analysis.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusd - 450 pips box weekly.gif Size: 18 KB
Click to Enlarge Name: gbpusd - 450 pips box daily.gif Size: 21 KB
Click to Enlarge Name: gbpusd - 450 pips box h4.gif Size: 24 KB
  • #275,708
  • Apr 7, 2011 10:26am Apr 7, 2011 10:26am
Quoting Articulate
I have said it several times in my previous posts, it is always helpful to have the bigger picture in mind when trading.

[color=black][font=Verdana]For the past 10 weeks the cable has been trading withing a 450 pips range. For 11 weeks, it has been Bull+Bear+Bull+Bear, etc, the only exception being last week and this week which is currently Bull+Bull. If the pattern is to continue this week's candle might end up being a bear. The pair has thus create a 450 pips concrete zone. This a strong manifestation...
Good day to you,

Beautiful charting... golden nugget here. Thank you for your post.

Regards
  • #275,709
  • Apr 7, 2011 10:31am Apr 7, 2011 10:31am
Quoting Exciter135
Great thks for ur advice, both for FX and my health. in good days, I usually indecisive to take action, then pity. In bad day, like sideway today, I stronger to jump in . then depressed when lost. Or when trend changes (short term move, coz I am daytrading) my mind didn't change in time . My mind easy to be messed up when situation changes too fast and take wrong trade. I still struggle with myself everyday. If not, i give up FX long time ago . Dear bro, if u don't mind can I sometime disturb u with some PMs. Just learning.
Your focusing on the wrong thing..trading isnt about getting it right..u are playing probability therefore u just play yur edge..not focus on it being right..cause what happens is u get disappointed and then paralysed to act when needed..think like a casino owner..

u go in and u win the jackpot..the guy pays u..he aint upset cause he know plenty of poor sumks gonna fill the till..u need to think like this about yur edge

remember in 100 trades u just need to make more than u lose. I know it is easier said than done but this is what is required otherwise trading will kill u mentally and it just aint worth it..I hope what i write make sense
  • #275,710
  • Apr 7, 2011 10:38am Apr 7, 2011 10:38am
Although it is only a 5M 'C' chart, and the magnitude
and intensity of movement is often relative to the TF,
we have a tight compression exactly over the 200EMA.
and a cause to pay attention to as most of the other
TF patterns are separated and fully extended.

Dr. D.
Attached Image
  • #275,711
  • Apr 7, 2011 10:49am Apr 7, 2011 10:49am
Quoting nAVIN2007
Your focusing on the wrong thing..trading isnt about getting it right..u are playing probability therefore u just play yur edge..not focus on it being right..cause what happens is u get disappointed and then paralysed to act when needed..think like a casino owner..

u go in and u win the jackpot..the guy pays u..he aint upset cause he know plenty of poor sumks gonna fill the till..u need to think like this about yur edge

remember in 100 trades u just need to make more than u lose. I know it is easier said than done but this is what...
Hi nAVIN,

ur post made up all my loss today . 1-ton rock block was hung wrongly and unneccessarily on my mind by myself. Will throw it away from now on. Let do it under right money management. That's right thing to do . Great thks bro. Wish u good pips always.
  • #275,712
  • Edited 11:32am Apr 7, 2011 11:14am | Edited 11:32am
Quoting Exciter135
Hi nAVIN,

ur post made up all my loss today . 1-ton rock block was hung wrongly and unneccessarily on my mind by myself. Will throw it away from now on. Let do it under right money management. That's right thing to do . Great thks bro. Wish u good pips always.

good man!!..u see the casino gives u 75% of winning yet people lose and casino win

reason people lose:- no money management and greed
just play the odds my friend and u will be ok..

easier said than done i know..
  • #275,713
  • Apr 7, 2011 11:56am Apr 7, 2011 11:56am
Quoting javapips
where is DR D..,
i thought he would say, "5 minute compression, enough energy to send it etc etc etc...."

miss you Dr, where are you..


java,
All I see is a 'bubble' (1H) and a sharp 'pin' (as in a C pattern on 5M)
that could pop it, or sit and oscillate 'til another further forms (15M).

Dr. D.
Attached Images
  • #275,714
  • Apr 7, 2011 12:04pm Apr 7, 2011 12:04pm
Quoting TauTrader
Good day to you,

Beautiful charting... golden nugget here. Thank you for your post.

Regards

The pleasure is mine!
  • #275,715
  • Apr 7, 2011 12:11pm Apr 7, 2011 12:11pm
Articulate http://www.forexfactory.com/images/s...ser_online.gif
Member

In speech and charting, if only more could do the same.

Keep posting.

Dr. D.
  • #275,716
  • Apr 7, 2011 1:07pm Apr 7, 2011 1:07pm
Good day to you,

Last general chart - 15min. We are trading slightly below the 50% of the last significant high and low. The key area remains @ 1.6290 to 1.6310.

Next key levels:

 

  1. To the upside - 1.6360 - 1.6370
  2. To the downside - 1.6260 - 1.6250

Take Care

Attached Image (click to enlarge)
Click to Enlarge Name: gu10001.gif Size: 29 KB
  • #275,717
  • Apr 7, 2011 1:18pm Apr 7, 2011 1:18pm
Quoting TauTrader
Good day to you,

Last general chart - 15min. We are trading slightly below the 50% of the last significant high and low. The key area remains @ 1.6290 to 1.6310.

Next key levels:

 

  1. To the upside - 1.6360 - 1.6370
  2. To the downside - 1.6260 - 1.6250

Take Care

A whole bar of gold in this chart..! Nice Mr. T....
All systems of divination, like music itself,work through patterns.
  • #275,718
  • Apr 7, 2011 1:30pm Apr 7, 2011 1:30pm
Good day to you,

I have taken the chart posted above - changed the timeframe to 30min and scrolled back to check the levels indicated. The next 3 charts will show you how price respected these and how accurate the levels are:

Chart 1: December 2011
Chart 2: January 2010
Chart 3: October 2009

Awesome hey?

This indicator must be used around consolidation areas. It will give you insight into levels of importance. The indicator is attached. Appreciation to BeMac for the concept. Play with it a bit. See the thread below for info regarding the use and settings etc.

You can look at his thread here:

http://www.forexfactory.com/showthread.php?t=162886

Regards
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu10002.gif Size: 28 KB
Click to Enlarge Name: gu10003.gif Size: 27 KB
Click to Enlarge Name: gu10004.gif Size: 25 KB
Attached File(s)
File Type: mq4 Bemac M_ICCE Very CloseV4.mq4   37 KB | 384 downloads
  • #275,719
  • Apr 7, 2011 1:35pm Apr 7, 2011 1:35pm
Quoting kaspopsicle
A whole bar of gold in this chart..! Nice Mr. T....
Good day to you,

Yip - a real "nice-to-have" tool. I use it to get possible targets that I use for exit purposes - it compliments my main trading system nicely.

The indi is posted. Use it!

Warm regards
  • #275,720
  • Apr 7, 2011 1:47pm Apr 7, 2011 1:47pm
it will be good if us close around 1.629, so yesterday and today candle could make beautiful doji.

time to sleep. see you all..


btw i just watching tv, in japan there is an earthquake again, 7.4, hope all is well. God Bless them all.

and hope market didn't crash like before. but if GU down it's ok..,
I will be the number one Manager.
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