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Cable Update (GBPUSD)

  • #276,501
  • Apr 15, 2011 1:48am Apr 15, 2011 1:48am
Hello,

Showing off? To be honest, did not really read most of what was in front of me, so have no idea of what has really been said between everyone. I find that as one grows older, one embraces the sanctuary of confused ignorance more frequently, and yes, it is bliss.

Hope all have a green day.

Quoting smikester
Hi Condor. Nice to see your charts here. But this is what I have to do to pay penance for showing off earlier. Man I was burning bright today.
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #276,502
  • Apr 15, 2011 1:53am Apr 15, 2011 1:53am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Ignorance is perhaps not your fault Condor, it's the nature of this forum now a days which makes us ignore. Seems little life is stll left and can be survived for the joy of few should we all make efforts again.


ta
ams


Quoting 45Condor
Hello,

Showing off? To be honest, did not really read most of what was in front of me, so have no idea of what has really been said between everyone. I find that as one grows older, one embraces the sanctuary of confused ignorance more frequently, and yes, it is bliss.

Hope all have a green day.
  • #276,503
  • Apr 15, 2011 1:53am Apr 15, 2011 1:53am
Good day, lads. I am testing SHORT 6334. It seems that it will go south.
  • #276,504
  • Apr 15, 2011 1:55am Apr 15, 2011 1:55am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
I also wanted to ask you regarding volume. I work in IT as a PM for investment banks and have done projects with / for them, but I've never seen them using volume in forex. Does it really works.? I see malcolm and all using them but for the life of me I cannot trade with it. It seems for evey highbar or pinbar there is a high volume bar which is obvious candle trading? Would appreciate to see what you see in them !! Perhaps another set of tool if my little mind can get it


ta
ams



Quoting Beljevina
Oh No! It was actually a good trade - after I made my forum submission a few hours ago, I realized you had come to the same conclusion to short as did I!

Unfortunately looks like Murphy's Law got in the mix here --- I think within a few minutes of you closing for a loss, the short would have worked out: was at 633 a moment ago, and I think eventually heading lower - DPP and prev high...
  • #276,505
  • Apr 15, 2011 2:01am Apr 15, 2011 2:01am
out +12
touching that trendline.

possible HS formation
Attached Image (click to enlarge)
Click to Enlarge Name: gusdh1.gif Size: 26 KB
90% of traders use TA, indicators and prediction
  • #276,506
  • Apr 15, 2011 2:10am Apr 15, 2011 2:10am
[quote=GBP Trader;4546953]
Quoting TauTrader
Good day to you,

You are probably right. My entry was not ideal - and that made me nervous. So - better to rather pull the trade as there will be plenty others to come. I had an initial target of 1.6310 - 1.6320.

Good afternoon Tau Trader:

Figures that makes me as a junior trader was amazed to you. How do you find these numbers? I have much to learn from you ..... Thank you for your analysis

Best Regard
Good day to you,

I use a normal chart and just switch to "line chart" - then look for areas where at least 2 points touch. 3 points touching are more important, 4 even better.

I mark these with horizontal lines.

Then switch back to bar chart and use these levels as possible target areas.

Regards
Attached Image (click to enlarge)
Click to Enlarge Name: gu200.gif Size: 20 KB
  • #276,507
  • Edited 2:19am Apr 15, 2011 2:17am | Edited 2:19am
Good day to you,

No more short attempts from me. Will only buy dips. 1.6380 area should offer a pullback and a possible opportunity to scalp short for a couple.If price angle and time continue on the current path, 1.6428 can be achieved.

I'm going out for a couple of hours.

all the best
  • #276,508
  • Apr 15, 2011 2:20am Apr 15, 2011 2:20am
Quoting _BBKing_
out +12
touching that trendline.

possible HS formation
90% of traders use TA, indicators and prediction
  • #276,509
  • Apr 15, 2011 2:33am Apr 15, 2011 2:33am
Quoting ams
I also wanted to ask you regarding volume. I work in IT as a PM for investment banks and have done projects with / for them, but I've never seen them using volume in forex. Does it really works.? I see malcolm and all using them but for the life of me I cannot trade with it. It seems for evey highbar or pinbar there is a high volume bar which is obvious candle trading? Would appreciate to see what you see in them !! Perhaps another set of tool if my little mind can get it


ta
ams
Hi Ams, Good Day to you and all !

IMHO, FX trading is not difficult, it is Traders who make it so. Most problems are creation of our minds and like in numeralogy everything seems to work for a while. Volume is one such for the simple reason that true volume is not known - most traders use Futures volume for their study but then why not trade in Futures market ? The success-rate of these guys is same as any other system-followers'. Talking or Typing fast is their strength!

Stick to your Guns - from what I have seen they are OK - enough to make a bundle
  • #276,510
  • Apr 15, 2011 2:33am Apr 15, 2011 2:33am
Quoting TauTrader
Good day to you,

No more short attempts from me. Will only buy dips. 1.6380 area should offer a pullback and a possible opportunity to scalp short for a couple.If price angle and time continue on the current path, 1.6428 can be achieved.

I'm going out for a couple of hours.

all the best
gday,
i also notice a good buy power on dips

today no news on GBP so, lets see what us dollar will do!
on my history trades, all shorts on gbp usd gone bad or slowly good.
i still feel better on longs.
90% of traders use TA, indicators and prediction
  • #276,511
  • Apr 15, 2011 2:36am Apr 15, 2011 2:36am
Quoting _BBKing_
.

I long @.6328, closed @.6346, +18pips, coz it reached daily open and I was not confident and closed and coz LO not open . Wait for next good my friend .
  • #276,512
  • Apr 15, 2011 2:40am Apr 15, 2011 2:40am
Quoting Exciter135
.

I long @.6328, closed @.6346, +18pips, coz it reached daily open and I was not confident and closed and coz LO not open . Wait for next good my friend .
yes
was a good 30 pips position, got 12
anyway profit
90% of traders use TA, indicators and prediction
  • #276,513
  • Apr 15, 2011 2:41am Apr 15, 2011 2:41am
It seems I bit the wrong side, it's -30 pips now but I think It will go down eventually. Suppose in 2-3 hours there are no changes I will close my position with that loss.
  • #276,514
  • Apr 15, 2011 2:53am Apr 15, 2011 2:53am
i noticed those trendlines by some one on eur usd threads...
added on my charts

now it is below 75.22 main previous static support
but that lower trendline worked out a lot as dynamic.

can some one help me about that formation i see between upper n lower white line?

i expect a reaction from here in up coz i think when lines are closing like that, price is going to break out above.

is it possible?
and today is CPI and other main data there in USA........
Attached Image (click to enlarge)
Click to Enlarge Name: usdxd1.gif Size: 20 KB
90% of traders use TA, indicators and prediction
  • #276,515
  • Apr 15, 2011 3:18am Apr 15, 2011 3:18am
Quoting redbeben
GJ done as well GU 20 pips to go moved SL to BE now

I will open a sell GJ around 136.40-50 with TP 136.10
GU short and GJ short closed over night

for today I am long on GU as first TP 1.6380 and short for now on GJ untill 135.50 then long on GJ from 135.35 with TP 136.10 as first TP and second TP 136.55...not sure if we're gonna reach that one
  • #276,516
  • Apr 15, 2011 3:43am Apr 15, 2011 3:43am
Quoting _BBKing_
i noticed those trendlines by some one on eur usd threads...
added on my charts

now it is below 75.22 main previous static support
but that lower trendline worked out a lot as dynamic.

can some one help me about that formation i see between upper n lower white line?

i expect a reaction from here in up coz i think when lines are closing like that, price is going to break out above.

is it possible?
and today is CPI and other main data there in USA........
I don't know about that but currently London session fails to bring it higher than 6366. I believe we will see some down movement but I can't say for sure to what extent.
  • #276,517
  • Apr 15, 2011 3:44am Apr 15, 2011 3:44am
Good morning everyone. Friday. I don't think there's going to be much for me this morning but I'll post if I see a set up. Some news re dollar this pm.
Gone to a better place
  • #276,518
  • Apr 15, 2011 3:53am Apr 15, 2011 3:53am
Quoting 0rPhioZ
I don't know about that but currently London session fails to bring it higher than 6366. I believe we will see some down movement but I can't say for sure to what extent.
yes 6360 shows bears lined up.
90% of traders use TA, indicators and prediction
  • #276,519
  • Apr 15, 2011 4:11am Apr 15, 2011 4:11am
Quoting _BBKing_
yes 6360 shows bears lined up.
Now, another fight from the bulls. My guess is due to positive data from EUR. This looks like stalemate to me. Things will probably get ugly during US news and US session.
  • #276,520
  • Apr 15, 2011 4:18am Apr 15, 2011 4:18am
Quoting 0rPhioZ
Now, another fight from the bulls. My guess is due to positive data from EUR. This looks like stalemate to me. Things will probably get ugly during US news and US session.
ugly meaning for the pound?
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