and @ill be back
glad to see that there is still some one respecting price trend!
Cable Update (GBPUSD)
- #305,001
- Mar 27, 2012 3:55am Mar 27, 2012 3:55am
- Joined Sep 2010 | Status: Life Time Member | 6,685 Posts
- #305,002
- Mar 27, 2012 3:56am Mar 27, 2012 3:56am
- Joined Sep 2010 | Status: Life Time Member | 6,685 Posts
- #305,003
- Mar 27, 2012 4:00am Mar 27, 2012 4:00am
- Joined May 2011 | Status: Get to the Chopper | 17,905 Posts
Come with me if you want to live....
- #305,005
- Mar 27, 2012 4:17am Mar 27, 2012 4:17am
- Joined Jul 2010 | Status: Always manage your risk & leverage | 7,339 Posts
not euphoria follower
- #305,006
- Mar 27, 2012 4:17am Mar 27, 2012 4:17am
- Joined Jul 2007 | Status: Trader | 5,392 Posts
ex member
- #305,007
- Mar 27, 2012 4:26am Mar 27, 2012 4:26am
- Joined Jul 2007 | Status: Trader | 5,392 Posts
ex member
- #305,010
- Mar 27, 2012 4:57am Mar 27, 2012 4:57am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
ok here it is the chart.
last night I was aiming for 5973-5991 as entries as previous highs.
there are 2 views in this trade.long term and mid term.
on the midterm I see price overbought but not as for a reversal but for pullback to 5860 area where it would be good to reload for longs.
longterm view is navin's view with some small adjustments using my calculations.
so let's see midterm and what I see on the charts.
when we passed 5883 (circle on the right side)we had clear sky to 1.6024-40 area as the next R area ploted on a ichi chart(weekly)...
nice to see u around..
- #305,012
- Mar 27, 2012 5:12am Mar 27, 2012 5:12am
- Joined May 2011 | Status: Get to the Chopper | 17,905 Posts
Come with me if you want to live....
- #305,013
- Mar 27, 2012 5:28am Mar 27, 2012 5:28am
- Joined Jul 2007 | Status: Trader | 5,392 Posts
ex member
- #305,014
- Mar 27, 2012 5:29am Mar 27, 2012 5:29am
- | Commercial User | Joined Feb 2010 | 2,739 Posts
well still trading but have no time to post
I think I overtrade and I am tired but still using same stuff.please find attached 2 more charts one on M5 and one on H1 just to point out the pullback view.
normally in ichi the flat KS line attracts the price.TS line normally supports it but once it is broken those lines will cross and next stop is the KS line.
I call the cross the 50% confirmation.the other 50% is the brake and close above or under the cloud bottom or top (cloud that is flat as the KS line and normally at the same level)
you could jump in a trade on pullback just by looking at the shape of the cloud and timing with a good S or R area and target as first TP the KS line +- few pips.
for the weak hearted ones you could just wait for the cross first and then jump in.
for the really conservative ones easier to open at the brake of the cloud and aim for 61% on fibo as a target and even @ 100 fibo
please see the M5 chart and see how the move developed
hmmm right 61% and some 35 pips profit so far.one could close or move to BE or wait to close under the flat kumo but only if it brakes where kumo is flat.the same image we have on H1 but I doubt it will pass 61% on this one as on H4 we have top kumo around same level 5855-5860
please see charts attached just to see how I see it
- #305,017
- Mar 27, 2012 5:49am Mar 27, 2012 5:49am
- | Commercial User | Joined Feb 2010 | 2,739 Posts
and now as the move developed nicely we can see how first TP touched as 61.8% of fibo on the M5.
price bounced and now we wait for the other 50% confirmation as in the close below flat kumo in the circled area.
just as food for thought on M15 we see that top of kumo (kumo is an average of S and R lines) is the same as 61.8% on M5 fibo so as it is a S area better take care of the SL to put it in BE already just to prepare for a bounce back up.
and on the last chart we see H1 chart with a pattern....similar to M5 but not even 50% confirmed yet.
so....for a strong heart like mine and with a good RR you could have jumped in up there for a short aiming for 5886-5890 as first TP (ks line and 50% fibo),then to wait for cross then to wait for brake under cloud and target 61.8% fibo...which is 5858-5859 and it means top of kumo cloud on H4.....
the only problem with this pullback is that acc to what H4 shows we will see a touch of this level(if charts tell the truth) by the end of the week
from that level it would be safe to long with TP 5990 for mid term and the rest of TP fro long termers.
same charts apply on D and W....M as well that will bring me the beloved 1.7333
price bounced and now we wait for the other 50% confirmation as in the close below flat kumo in the circled area.
just as food for thought on M15 we see that top of kumo (kumo is an average of S and R lines) is the same as 61.8% on M5 fibo so as it is a S area better take care of the SL to put it in BE already just to prepare for a bounce back up.
and on the last chart we see H1 chart with a pattern....similar to M5
but not even 50% confirmed yet.so....for a strong heart like mine and with a good RR you could have jumped in up there for a short aiming for 5886-5890 as first TP (ks line and 50% fibo),then to wait for cross then to wait for brake under cloud and target 61.8% fibo...which is 5858-5859 and it means top of kumo cloud on H4.....
the only problem with this pullback is that acc to what H4 shows we will see a touch of this level(if charts tell the truth) by the end of the week
from that level it would be safe to long with TP 5990 for mid term and the rest of TP fro long termers.
same charts apply on D and W....M as well that will bring me the beloved 1.7333
- #305,018
- Mar 27, 2012 7:06am Mar 27, 2012 7:06am
- | Commercial User | Joined Feb 2010 | 2,739 Posts
as for the last post for today I'll attach the development of M5 short from start to TP
clean entry,clean exit,predictable move and nice profit.this kind of moves you can find in ranging market/consolidation and if you spot one like this in time you get a min of 30 pips.this one brought so far 40 pips.
the rest is up to the MM of each trader.
now under 5946-5927 area we have freefall to 1.5860 as our TP and loading longs area.
so...I'll eyeball 5927 as that one is the last outpost for the bulls(some buyers are there and SL's just under) and then.....we'll see.
I'd reckon a rebound will happen in this area as I still expect the GU to reach lower levels by the end of the week and not this fast but it depends on the market.
have a nice day
clean entry,clean exit,predictable move and nice profit.this kind of moves you can find in ranging market/consolidation and if you spot one like this in time you get a min of 30 pips.this one brought so far 40 pips.
the rest is up to the MM of each trader.
now under 5946-5927 area we have freefall to 1.5860 as our TP and loading longs area.
so...I'll eyeball 5927 as that one is the last outpost for the bulls(some buyers are there and SL's just under) and then.....we'll see.
I'd reckon a rebound will happen in this area as I still expect the GU to reach lower levels by the end of the week and not this fast but it depends on the market.
have a nice day
- #305,019
- Mar 27, 2012 7:16am Mar 27, 2012 7:16am
- Joined Sep 2010 | Status: Life Time Member | 6,685 Posts
- #305,020
- Mar 27, 2012 7:43am Mar 27, 2012 7:43am
as for the last post for today I'll attach the development of M5 short from start to TP
clean entry,clean exit,predictable move and nice profit.this kind of moves you can find in ranging market/consolidation and if you spot one like this in time you get a min of 30 pips.this one brought so far 40 pips.
the rest is up to the MM of each trader.
now under 5946-5927 area we have freefall to 1.5860 as our TP and loading longs area.
so...I'll eyeball 5927 as that one is the last outpost for the bulls(some buyers are there and SL's just under)...