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Cable Update (GBPUSD)

  • #277,441
  • Apr 26, 2011 5:29am Apr 26, 2011 5:29am
Quoting vosterfxandy
But surely some people can trade PA using forming candles?

absolutely not on a daily candle, I willing to bet the daily candle you are currently looking at will look nothing like it when it closes.
Trade Like a Robot make money Like a Bank
  • #277,442
  • Apr 26, 2011 5:33am Apr 26, 2011 5:33am
Quoting Shadip
Hi, lots of volume on the last up bar. Lots of buying on the sell bar that popped through the 200 followed by another down bar with a lot less volume. My 5m says up...

My 30m bounced of the 24 and 200ma's too with little volume. Suggesting a weak test.

Try to be careful using Volume with your tech analysis. Most brokers out there are using tick data from lots traded within themselves. A lot of times volume is missunderstood with that of the the daily volume that is being traded with the real interbank, and ususally it isn't.
Trade Like a Robot make money Like a Bank
  • #277,443
  • Apr 26, 2011 5:34am Apr 26, 2011 5:34am
Quoting raz
absolutely not on a daily candle, I willing to bet the daily candle you are currently looking at will look nothing like it when it closes.
hmmm, interesting.
Enter Signature
  • #277,444
  • Apr 26, 2011 5:36am Apr 26, 2011 5:36am
if we brake now this damn Kumo base we go all the way down on H4 we are about to have a sell cross.maybe in 4-8 hours

I guess London close will boost the price in order to have the cross.

after the H4 cross we have 24 hours to go to the 1.638X level and if crossed we have first TP 100 pips under this value at 1.628X second one 50 pips more 1.623X and last one 1.618X

The next Asia and tmr morning will tell more
daily chart shows me a S area at 1.6265

but we are safe with first TP anyway.

I will be watching the above levels
  • #277,445
  • Apr 26, 2011 5:39am Apr 26, 2011 5:39am
Quoting raz
Try to be careful using Volume with your tech analysis. Most brokers out there are using tick data from lots traded within themselves. A lot of times volume is missunderstood with that of the the daily volume that is being traded with the real interbank, and ususally it isn't.
Yeah I've read a lot on mals's threads about it. I'm using Alpari atm. I'm not botherd if the data isn't correct, it works for me if you know what I mean.

I kinda take Tau's approach and only really enter extremes. Means you get better R:R and a better chance of winning without being shaken out. But you already know that.

For sure wouldn't use vsa by itself though, can be misleading.
  • #277,446
  • Apr 26, 2011 5:40am Apr 26, 2011 5:40am
Quoting TauTrader
Good day to you,

..
More to the point - I know a LOT of traders using the USDX as a tool. Has been ignorant till now. Time to study this?

All the best to you. Trade well.
Dixie and Dow, Sir.

Been watching them playing risk aversion lately and the correlation with euro/cable. It is fun

All the best.
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  • #277,447
  • Apr 26, 2011 5:41am Apr 26, 2011 5:41am
the strange thing is how the daily candle has such long wicks, already.
Enter Signature
  • #277,448
  • Apr 26, 2011 5:43am Apr 26, 2011 5:43am
I will add a small sell on EU tp 1.458 and secont tp 1.456

1.457 level should be reached in 10 hours more or less

and yes I still have the previous shorts in place since last week
  • #277,449
  • Apr 26, 2011 5:52am Apr 26, 2011 5:52am
Quoting gsantri
Dixie and Dow, Sir.

Been watching them playing risk aversion lately and the correlation with euro/cable. It is fun

All the best.
Good day to you,

I remain terrible with the above. Will follow to see if I can extract value. Like your charts. Nice and clean. You have come a long way. I am still on bells and whistles...

Wish you all success!

Regards
  • #277,450
  • Apr 26, 2011 6:04am Apr 26, 2011 6:04am
Quoting redbeben
I will add a small sell on EU tp 1.458 and secont tp 1.456

1.457 level should be reached in 10 hours more or less

and yes I still have the previous shorts in place since last week
Good day to you,

I feel my 1.4640 entry was still too weak. 1.4660 would have been better. But I want to be in - so split my investment to add @ 1.4660 later.

If we run down from here - I'm happy. But I expect to add higher.

All the best to you

Regards
  • #277,451
  • Apr 26, 2011 6:40am Apr 26, 2011 6:40am
Quoting redbeben
I'm gonna be selling around 1.652 level

TP 1 1.647 tp 2 1.643 tp3 1.639X

and later we will go boom.I mean if we go under this level of 1.6380
first TP touched
waiting for the second one I hope today
  • #277,452
  • Apr 26, 2011 6:51am Apr 26, 2011 6:51am
Argghhh... TP at 1.6480.. but, 30 seconds again, the price going to 1.6470
  • #277,453
  • Apr 26, 2011 7:12am Apr 26, 2011 7:12am
Quoting TauTrader
Good day to you,

I feel my 1.4640 entry was still too weak. 1.4660 would have been better. But I want to be in - so split my investment to add @ 1.4660 later.

If we run down from here - I'm happy. But I expect to add higher.

All the best to you

Regards
hi again

that level would have been perfect for a short indeed.

now I come up with another time span that could work out

3 hours from now on meaning London close we could see the brake under 1.457X area

if that will not play out I will stick to the initial time span of 10 hours from the previous post.

we'll see in 3 hours
  • #277,454
  • Apr 26, 2011 7:38am Apr 26, 2011 7:38am
Quoting redbeben
hi again

that level would have been perfect for a short indeed.

now I come up with another time span that could work out

3 hours from now on meaning London close we could see the brake under 1.457X area

if that will not play out I will stick to the initial time span of 10 hours from the previous post.

we'll see in 3 hours
Wondering why you kept using 1.45xx not 1.64xx
  • #277,455
  • Apr 26, 2011 7:47am Apr 26, 2011 7:47am
Quoting ohimae
Wondering why you kept using 1.45xx not 1.64xx
hi mate,

a bit of confusion here

I was talking to Tau about EU there
that's why that number over there

no mistake just another pair
  • #277,456
  • Apr 26, 2011 8:20am Apr 26, 2011 8:20am
When PA crossed the Ichimoku Cloud and 5m candle closed bellow it, it was a sure entry. It went all the way to MR2 pivot giving a quick 15 pips profit...
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  • #277,457
  • Apr 26, 2011 8:27am Apr 26, 2011 8:27am
Quoting redbeben
hi mate,

a bit of confusion here

I was talking to Tau about EU there
that's why that number over there

no mistake just another pair
  • #277,458
  • Apr 26, 2011 8:33am Apr 26, 2011 8:33am
Quoting redbeben
first TP touched
waiting for the second one I hope today
preparing to bail out at second TP
I expect a bit of a pullback for now
  • #277,459
  • Apr 26, 2011 8:36am Apr 26, 2011 8:36am
Good day,

long went in @ 1.6442. Short term chart. Scalp.

Regards
  • #277,460
  • Apr 26, 2011 8:38am Apr 26, 2011 8:38am
Quoting TauTrader
Good day,

long went in @ 1.6442. Short term chart. Scalp.

Regards
I will bail out at 1.6437 and leave the rest to flow to the last TP

so tired now
now I have to polish the crystall ball for another day )
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