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  • #1,621
  • Nov 22, 2011 7:16am Nov 22, 2011 7:16am
Hey people. A very nice thread. I like the lines here. Looks very logical to me as I've used them all my trading life. Respect to WMD and all the crowd here. A simple chart of GU. What do you think about shorting cable if we would get the PA in the second picture with SL just above the daily high?
Attached Image(s) (click to enlarge)
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Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #1,622
  • Nov 22, 2011 7:35am Nov 22, 2011 7:35am
Cable chart showing clean structure.

As long as the resistance holds, bias remains south, the trend line also provides an obstacle, only a significant breach would have me looking north on pullbacks.
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  • #1,623
  • Nov 22, 2011 7:36am Nov 22, 2011 7:36am
Euro also at a decision point.

The trend remains down until high/low structure demonstrates otherwise.
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  • #1,624
  • Edited 8:14am Nov 22, 2011 8:11am | Edited 8:14am
Quoting dazzdude
dazz
update (against trend - scalp or take 50% at r/r=1) - leave reminder to ride

dazz
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  • #1,625
  • Nov 22, 2011 8:39am Nov 22, 2011 8:39am
Quoting Mr.C
Hey people. A very nice thread. I like the lines here. Looks very logical to me as I've used them all my trading life. Respect to WMD and all the crowd here. A simple chart of GU. What do you think about shorting cable if we would get the PA in the second picture with SL just above the daily high?
current trend down, yes

on another note.... i am keeping the seasonal influence of the cable in mind as per post

this is not a forcast.... only a possible option that I am aware could play out and if it does, I will capitalise accordingly.... and if it does not, then that's OK to.

however, fortune favours the prepared

dazz
Attached Image (click to enlarge)
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  • #1,626
  • Nov 22, 2011 8:55am Nov 22, 2011 8:55am
also for consideration (though I rarely look at any indi's any more)....
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  • #1,627
  • Nov 22, 2011 9:22am Nov 22, 2011 9:22am
Is that an rsi?.... Oh no you didn't.... corruption I tell you... corruption!
  • #1,628
  • Nov 22, 2011 9:31am Nov 22, 2011 9:31am
Quoting wmd
Is that an rsi?.... Oh no you didn't.... corruption I tell you... corruption!
Doh!! That was stupid!! what was I thinking? (50 lashes!)
  • #1,629
  • Nov 23, 2011 2:20am Nov 23, 2011 2:20am
Hi all,

have been following this thread for a while but never really posted.

I had a similar chart GBPUSD setup as WMD but missed the hook (Red arrow).

Decided to draw a downtrend line, and on the bounce off it, entered with a Pending order at 1.5632

Would appreciated any comments anyone have on this trade.

thanks, Fuzzy.
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  • #1,630
  • Nov 23, 2011 2:58am Nov 23, 2011 2:58am
Quoting fuzzy
Hi all,

Would appreciated any comments anyone have on this trade.

thanks, Fuzzy.
The point marked at support, is that where you are defined your BOP from? If you are, its a nice pullback, but it does not match the hook by wmd's definition. If you are taking the BOP from a little higher, then its OK. However, your entry is not based on price coming back to the untested level (which is fine)

Looks at Wmd's example chart here. Burn this into your memory.

In saying that, nice entry of the TL.

dazz
  • #1,631
  • Nov 23, 2011 3:02am Nov 23, 2011 3:02am
Quoting dazzdude
The point marked at support, is that where you are defined your BOP from? If you are, its a nice pullback, but it does not match the hook by wmd's definition.

Looks at Wmd's example chart here

In saying that, nice entry if TL

dazz
Dazz, thanks for feedback.

My BOP is the Red Arrow, which I should have entered but I missed it.

So, I entered later on TL.

Fuzzy.
  • #1,632
  • Nov 23, 2011 4:34am Nov 23, 2011 4:34am
it will be interesting to see how the month ends, for a potential 'monthly' bias

dazz
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  • #1,633
  • Nov 23, 2011 4:53am Nov 23, 2011 4:53am
dazz
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  • #1,634
  • Nov 23, 2011 5:07am Nov 23, 2011 5:07am
pattern on a weekly chart

dazz
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  • #1,635
  • Nov 23, 2011 5:17am Nov 23, 2011 5:17am
Quoting dazzdude
pattern on a weekly chart

dazz
Great charts dazz, thanks
  • #1,636
  • Nov 23, 2011 5:47am Nov 23, 2011 5:47am
Quoting Mr.C
Hey people. A very nice thread. I like the lines here. Looks very logical to me as I've used them all my trading life. Respect to WMD and all the crowd here. A simple chart of GU. What do you think about shorting cable if we would get the PA in the second picture with SL just above the daily high?
Have locked some profit by closing half of the position for 90 pips (1.4%). The rest left running with SL at b/e. Have used a 30 pip to yesterdays high point for an entry.
Attached Image (click to enlarge)
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  • #1,637
  • Nov 23, 2011 6:17am Nov 23, 2011 6:17am
Perfect TL. Break. Perfect retest. Goal.
Shame on me for not having this line drawn in time.
There plenty more coming.
Patience.
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  • #1,638
  • Edited 6:51am Nov 23, 2011 6:37am | Edited 6:51am
Quoting Pat Mustard
Great charts dazz, thanks
Agreed. I've got some studying to do on hooks.

I was trying to figure for myself why it is a good chart,
and arrived at this (a bit messy):



Attached Image (click to enlarge)
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  • #1,639
  • Nov 23, 2011 6:46am Nov 23, 2011 6:46am
Here's my analysis from this morning.

http://meet28873896.adobeconnect.com/p2bc2cewyuj/
  • #1,640
  • Nov 23, 2011 9:17am Nov 23, 2011 9:17am
Quoting Mr.C
Have locked some profit by closing half of the position for 90 pips (1.4%). The rest left running with SL at b/e. Have used a 30 pip to yesterdays high point for an entry.
The rest closed at 1.5540 for 115 pips. Trade RR - 1/3.8.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd_111123_m30.gif Size: 19 KB
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