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Cable Update (GBPUSD)

  • #312,761
  • May 11, 2012 10:01am May 11, 2012 10:01am
Quoting tomspin
You certainly did TT, I would add a bit from myself and suggest to others to look for a hammer or a doji on those tops and bottoms - very powerfull candle I started my long today on E/U, if you look at the gold on H4 you'll see the same thing. I don't really pay attention to trendlines as price goes sideways most of the time but every small bit which limit risk in our trades is a good one.
All the best
Good day to you, Sir

I was thinking spesifically about you when I decided to post. Your pin / divergence type setup with these cycles could be powerful. Just remember that the cycle lenghts will change all the time. Sometimes short - sometimes longer. do not force it. They will show themselves. But look for those patterns on longer timeframes... apply your system and your positive trades should increase.

Sharp you are.

All success to you

Regards
  • #312,762
  • May 11, 2012 10:12am May 11, 2012 10:12am
Quoting TauTrader
Good day to you, Sir

I was thinking spesifically about you when I decided to post. Your pin / divergence type setup with these cycles could be powerful. Just remember that the cycle lenghts will change all the time. Sometimes short - sometimes longer. do not force it. They will show themselves. But look for those patterns on longer timeframes... apply your system and your positive trades should increase.

Sharp you are.

All success to you

Regards
Thanks!

Not everything will be a sweet candy but these simple rules are very good.
Fellow traders go to tops and bottoms TT has kindly pointed out and look for the formation - it is usually pins, doji, hammer - they always break the rally or a drop.
Here is an example for cabel atm, mind you all when there is a pinbar, doji or hammer price very often like to test a lower/higher shadow. Not a rule of thumb but happen sometimes
Edit I forgot to add - higher TF - more important signal i.e. M15 can produce a rally of a 15 pips while H4 can offer 100. Daily charts are super important

http://s12.postimage.org/7i4jc9ov1/cabel.gif
adult upload image
swing it!
  • #312,763
  • May 11, 2012 10:16am May 11, 2012 10:16am
Quoting tomspin
You certainly did TT, I would add a bit from myself and suggest to others to look for a hammer or a doji on those tops and bottoms - very powerfull candle I started my long today on E/U, if you look at the gold on H4 you'll see the same thing. I don't really pay attention to trendlines as price goes sideways most of the time but every small bit which limit risk in our trades is a good one.
All the best

simple and powerfull
http://s14.postimage.org/dbed31mw1/how_i_trade.gif
[url="http://postimage.org/"]picture...
good day to you,

Careful on EU - we will probably only see 1.2975 to 1.3000 as the next little leg... we may visit 1.25xx first before returning into to 1.33 to 1.35 region.

Just the way I see it

Regards
  • #312,764
  • May 11, 2012 10:24am May 11, 2012 10:24am
Quoting TauTrader
good day to you,

Careful on EU - we will probably only see 1.2975 to 1.3000 as the next little leg... we may visit 1.25xx first before returning into to 1.33 to 1.35 region.

Just the way I see it

Regards
I am not having E/U order open atm I closed in profit before it went east and traded U/C and Cable, I do have a U/C open currently and it's a pickle for me to leave it for a weekend or not.
swing it!
  • #312,765
  • May 11, 2012 10:25am May 11, 2012 10:25am
Current Weekly pip range is only 137pips ! This is only 57% of the 20 Week atr which is now 239pips.
-------------------------------
Price reached 108% of the current 85pip 20 day atr at the current Daily lo.
-------------------------------
Much contracted ranges on this pairing.
-------------------------------
The current Daily lo is top of that previous minor Weekly/Daily swing hi zone shown in pic below (aslo weekly M2 pivot)
--------------------------------
38.2% 6198-6060 caps the pullback off 6060 (for now?)

G/L
Attached Image (click to enlarge)
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ex member
  • #312,766
  • May 11, 2012 10:31am May 11, 2012 10:31am
Quoting uksnowman
Waiting for her at 1.606 to see reaction for buy
2nd time the level I posted has given a few decent pips, but not strong enough to resume the uptrend. Looks like the bears want to take it lower.

Will wait and see if 1.597-1.600 can contain the bears next week. If there is bounce there I would like to see a daily close above 1.6166 to confirm uptrend.
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  • #312,767
  • May 11, 2012 10:32am May 11, 2012 10:32am
Quoting TauTrader
Good day to you, all

Back from travelling. Late Friday afternoon here. Want to propose a chart.

Sometimes better to take a seat on a hillside and look at the cars go by...

Hope you all had a successful week.

Hope some of you have taken a little note here. Go study significant troughs and highs and mark the dates - there are often patterns there.

BUT ONLY trade when you have evidence in hand. Just thought I would share a little something.. ( I wonder what the current date is..)

Warm regards
Thanks.. I enjoyed the little picnic on the hillside with you.. Hope we can do it more often. And did you see that "Bull" red Ferrari on 11th and 14th street? It was amazing
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #312,768
  • May 11, 2012 10:35am May 11, 2012 10:35am
Quoting TauTrader
Good day to you,

Further to my post...

Evidence will be what your system tells you - it could be a trendline break, a cross of a MA, MACD, Divergence - there are many tools.

Can be very powerful. Trick is to identify the cycles at play.

hope I have added a little tool to your trading toolbox.

All success

Regards

I remember last week you were thinking of calling it quits.......glad you are still around - good stuff that you are sharing with people - if they listen it could help.

You are generous to share this kind of knowledge - it does not come cheap and I hope people appreciate your info.

Good weekend to you.

Faller
I don't trust any move - when you have profit...take it.
  • #312,769
  • May 11, 2012 10:35am May 11, 2012 10:35am
Quoting tomspin
I am not having E/U order open atm I closed in profit before it went east and traded U/C and Cable, I do have a U/C open currently and it's a pickle for me to leave it for a weekend or not.
Good day to you,

I believe, on EU, the low of today is the trough (lowpoint) for the next few sessions. My long still valid for a few. My SL set 2 days ago was missed by 2 pips..

Added a long @ 1.2931 with average price now 1.2940. Will take (or not) what is on offer.
  • #312,770
  • Edited 10:40am May 11, 2012 10:39am | Edited 10:40am
Quoting Faller
Very possible - all of my charts that I look at show downward pressure - however, what concerns me is when I look at the 4 hour chart and see that huge bull bar that has now been retraced - there is lots of support around that 1.6075ish area - Won't be around for the morning as I have some things to take care of - so my preference would be for you guys to keep buying at these levels to hold price until I get back! Happy Pipping Today.
Just reflecting on an earlier post...good job on buying it up......thanks.

Faller
I don't trust any move - when you have profit...take it.
  • #312,771
  • May 11, 2012 10:39am May 11, 2012 10:39am
Quoting baherhosni
Thanks.. I enjoyed the little picnic on the hillside with you.. Hope we can do it more often. And did you see that "Bull" red Ferrari on 11th and 14th street? It was amazing
Good day to you,

Yes, if one sometimes stand very close to a busy street, the cars passing will be one big blurr. Stepping back may prove to show you more clearly what cars are passing.

May the odds always be in your favour

Regards
  • #312,772
  • May 11, 2012 10:48am May 11, 2012 10:48am
Quoting Faller
I remember last week you were thinking of calling it quits.......glad you are still around - good stuff that you are sharing with people - if they listen it could help.

You are generous to share this kind of knowledge - it does not come cheap and I hope people appreciate your info.

Good weekend to you.

Faller
Good day to you, sir

I would have if the shortie did not work... unfortunately, it did.. ( in fact, I was so confident that I was willing to quit if a negative result was achieved)

Thank you, Faller - there are many ways to skin the old cat... you know that. You have your own ways to do so.

Just thought a little titbit here and there from hereon may benefit one or two individuals. I have learnt a lot from here - and giving back little pieces are always good - me finks.

May you experiece wealth, health and happiness - and a superb break till Monday.

Thanking you
  • #312,773
  • May 11, 2012 11:06am May 11, 2012 11:06am
5 min chart , - surprisingly going down, - am i reading it right - that the "regular crew" on here is saying "Buy now at 6070 area" ? ( it was meant to tip 6200 - 6300 at end of week (not happenning ) so start or mid next week? - is that what they are saying ?
VB
  • #312,774
  • May 11, 2012 11:13am May 11, 2012 11:13am
Quoting TauTrader
Good day to you,

Further to my post...

Evidence will be what your system tells you - it could be a trendline break, a cross of a MA, MACD, Divergence - there are many tools.

Can be very powerful. Trick is to identify the cycles at play.

hope I have added a little tool to your trading toolbox.

All success

Regards
Good day to you,

Still no evidence of a long.. the date for a possible long, based on recent PA, is upon us - but still no evidence. Maybe Monday?

Will have to wait and see..

Regards
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  • #312,775
  • May 11, 2012 11:13am May 11, 2012 11:13am
8H chart is still in play.. going down stack by stack..but is down
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Trade what you see. Write what you feel
  • #312,776
  • May 11, 2012 11:16am May 11, 2012 11:16am
Quoting TauTrader
Good day to you,

Yes, if one sometimes stand very close to a busy street, the cars passing will be one big blurr. Stepping back may prove to show you more clearly what cars are passing.

May the odds always be in your favour

Regards
btw, my comment there was to not "really" to appreciate your input "alone", its the way you put too TT. You are a very nice person. May "all" you days be as good as you hope it is for others.

And Faller You too are an amazing trader. Hoping I can read the news and candles like you do some day soon. That is if my account holds on until that day comes of course.. hehe..

Thanks to all the amazing + nice traders on FF..

Cheers
I still need a trading break soon!!! "Loose some to win more" --Baher A.
  • #312,777
  • May 11, 2012 11:17am May 11, 2012 11:17am
Quoting Vikingbarde
5 min chart , - surprisingly going down, - am i reading it right - that the "regular crew" on here is saying "Buy now at 6070 area" ? ( it was meant to tip 6200 - 6300 at end of week (not happenning ) so start or mid next week? - is that what they are saying ?
VB
Good day to you, sir

Not surprising. See my last post. See trendline. No evidence yet for a long, although we are, based on the past cycles, ready...

What evidence did you have for thinking long?

Regards
  • #312,778
  • May 11, 2012 11:23am May 11, 2012 11:23am
GBPNZD looking prime for a short....
but im not gona play with it....
im seeing GBPNZD to fall all the way to 2.01
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #312,779
  • May 11, 2012 11:26am May 11, 2012 11:26am
Quoting baherhosni
btw, my comment there was to not "really" to appreciate your input "alone", its the way you put too TT. You are a very nice person. May "all" you days be as good as you hope it is for others.

And Faller You too are an amazing trader. Hoping I can read the news and candles like you do some day soon. That is if my account holds on until that day comes of course.. hehe..

Thanks to all the amazing + nice traders on FF..

Cheers
good day to you,

I can read through the lines.You are a very nice person. Soft of hart and always willing..

Remember this... Faller had to start somewhere... You did too. He has developed a system that he believes in. Some losses,( each and every trader has them) but an expected positive outcome...

We all have to start somewhere.

Faller trades fulltime - that in itself is a massive vote of confidence from my side... I trade for a free holiday..

We all wish to do this business fulltime. Think of it... no boss, no building, no stock, no rent, no overheads - own time. But for all these benefits, it will not come easy. Trust me...

Stay true to yourself and keep your mind wide open.

Enjoy your week-end

Regards
  • #312,780
  • May 11, 2012 11:27am May 11, 2012 11:27am
from several different sites, - completion of cycle - before downturn to 58, then 56 by end of may - 54 by june .

I cannot tell this from charts myself ; but from other people who had long term charts - i spent about 6 hrs searching for info, checking, comparing, - trying to analyise if the site supplied reliable info etc.

Without searching for tech, there is no way that i thought it would have its sights on 1.64 and possibly higher. Some day traders - expected it to trade within smaller band, and had taken out lots of trades expecting return (before it reached 1.60 ) that is, The Euro fecked up a lot of peoples accounts in last month. One guy had built his account by 1400% in one year , averaging 60% to well over 100% per month - trading 12 hrs a day, - when Euro happened, he was too much in - and probably x100 - he couldnt ride it out - he lost 70% of his account.
He has adjusted his trading style now, and will not be making as much as he used to.
VB
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