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Cable Update (GBPUSD)

  • #327,581
  • Oct 19, 2012 9:35am Oct 19, 2012 9:35am
Quoting Nachiket
we heading down bro?
All I can say to that is...I sure hope so man. I won't be adding any shorts here myself though. I had to choose between adding to GU or GJ. I took GJ as it was above my first one.

I can't really place anymore now. Especially going into the weekend.
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Ghost Rider - WWTBMD?
  • #327,582
  • Oct 19, 2012 9:36am Oct 19, 2012 9:36am
looks like heavy sell stops are there at 1.6020
  • #327,583
  • Oct 19, 2012 9:36am Oct 19, 2012 9:36am
Quoting Nachiket
yup. may be it would be gr8 if you could teach me bullish/bearish divergence
Divergence alone on the oscillators is complete rubbish for trade entry levels. It's alright as a conformation tool, but it's rate of actually profitable trades far underweight the number of fake signals.

You would be better of just working on Price Action and ditching any indicators
I AM BIASED - MY THOUGHTS ARE AGAINST YOURS
  • #327,584
  • Oct 19, 2012 9:40am Oct 19, 2012 9:40am
If you really want to look into divergence, then I would suggest looking for divergence between correlated currency pairs, hence cross currency divergence.

This is usually more successful for entry levels, although you need to keep a close eye on the strength of the currency pairs correlation over time, as they usually fluctuate.
I AM BIASED - MY THOUGHTS ARE AGAINST YOURS
  • #327,585
  • Oct 19, 2012 9:41am Oct 19, 2012 9:41am
Quoting jezzode
Divergence alone on the oscillators is complete rubbish for trade entry levels. It's alright as a conformation tool, but it's rate of actually profitable trades far underweight the number of fake signals.

You would be better of just working on Price Action and ditching any indicators
Dude, dont you diss other people's method of making money when it work, so it aint rubbish!!! Watch what you say in here you newcomer!!
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #327,586
  • Oct 19, 2012 9:42am Oct 19, 2012 9:42am
Quoting jezzode
Divergence alone on the oscillators
Perhaps you would like to re-read my post....the key word being 'alone'...
I AM BIASED - MY THOUGHTS ARE AGAINST YOURS
  • #327,587
  • Oct 19, 2012 9:44am Oct 19, 2012 9:44am
Quoting jezzode
Perhaps you would like to re-read my post....the key word being 'alone'...
Still divergence alone works for some ppl
I unfortunately use it with emas

But i know some chartist out there who plots lines and uses divergence when market is near a trendline thry look at divergence to enter trade
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #327,588
  • Oct 19, 2012 9:48am Oct 19, 2012 9:48am
Quoting bguguen
Still divergence alone works for some ppl
I unfortunately use it with emas

But i know some chartist out there who plots lines and uses divergence when market is near a trendline thry look at divergence to enter trade
My point exactly, using it with other trading filter of your choice can prove to be more beneficial. The only people who use divergence alone are probably the commercial traders to find out where the 'stupid easy retail' money is sat.

I don't care if i'm a newcomer on this website...if a position name means that much to people then god help us
I AM BIASED - MY THOUGHTS ARE AGAINST YOURS
  • #327,589
  • Oct 19, 2012 9:49am Oct 19, 2012 9:49am
I just phoned my metatrader provider, they are experiencing technical issues.

well, I don't think this is good enough. Luckily for me the trade did not close when it hit stop loss and price dropped suddenly and I am in profit now. But what if the price went up heavily? I would be in trouble
  • #327,590
  • Oct 19, 2012 9:49am Oct 19, 2012 9:49am
Good day,

Back from my trip..

Attempting a long here - will cut if we break support

Regards
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  • #327,591
  • Oct 19, 2012 9:50am Oct 19, 2012 9:50am
Quoting jezzode
My point exactly, using it with other trading filter of your choice can prove to be more beneficial. The only people who use divergence alone are probably the commercial traders to find out where the 'stupid easy retail' money is sat.

I don't care if i'm a newcomer on this website...if a position name means that much to people then god help us
Well you have to share your analysis, i welcome charts
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #327,592
  • Oct 19, 2012 9:50am Oct 19, 2012 9:50am
if i am not wrong this will open a huge downside
  • #327,593
  • Oct 19, 2012 9:59am Oct 19, 2012 9:59am
Quoting Nachiket
yup. may be it would be gr8 if you could teach me bullish/bearish divergence
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Trading comes quickly, patience and discipline does not!
  • #327,594
  • Oct 19, 2012 10:01am Oct 19, 2012 10:01am
lol lol

Quoting albchr
It's ok Brother, they make platform shoes!

If not, we carpenters can
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #327,595
  • Oct 19, 2012 10:03am Oct 19, 2012 10:03am
Quoting Daddypips
Attachment
In other words, it is the second and lower high on RSI that you are looking for? (amongst other things)
  • #327,596
  • Oct 19, 2012 10:04am Oct 19, 2012 10:04am
Quoting bguguen
Well you have to share your analysis, i welcome charts
I'm sure as a 'newcomer' my charts would be of no use. Ill wait till I get more posts as they seem to matter
I AM BIASED - MY THOUGHTS ARE AGAINST YOURS
  • #327,597
  • Oct 19, 2012 10:08am Oct 19, 2012 10:08am
Come on folks...it's Friday. Can't we all just.....get along?
Ghost Rider - WWTBMD?
  • #327,598
  • Oct 19, 2012 10:10am Oct 19, 2012 10:10am
I'm just pulling ones leg, all good banter
I AM BIASED - MY THOUGHTS ARE AGAINST YOURS
  • #327,599
  • Oct 19, 2012 10:10am Oct 19, 2012 10:10am
Quoting Daddypips
Attachment
... Good explanation...few words.
Ghost Rider - WWTBMD?
  • #327,600
  • Oct 19, 2012 10:11am Oct 19, 2012 10:11am
Quoting jezzode
I'm just pulling ones leg, all good banter
No seriously, its not about the number of posts, its the analysis you make and for me, a good analysis comes with your chart and your view!!
Pls dont let anyone put you off from posting chart 😃
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
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