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Cable Update (GBPUSD)

  • #331,941
  • Dec 7, 2012 12:06am Dec 7, 2012 12:06am
Quoting PskovFX
really, is something wrong with GU?
quite a rejection we got on the ucad.. perhaps, ucad might not be trading below 9900 anytime soon, i reckon..

closed all my longs, and short the aussie..

while for cable, seems like that channel is broken, no significant momentum to the upside showing rejection.. i think cable gonna tank more..

i'm looking into a better price to short cable, not at current level.. perhaps, 6080 seems reasonable..
Attached Image(s) (click to enlarge)
Click to Enlarge Name: cable.gif Size: 28 KB
Click to Enlarge Name: aussie.gif Size: 29 KB
  • #331,942
  • Dec 7, 2012 12:15am Dec 7, 2012 12:15am
Quoting CasperTrader
Mr. Tau, I hope you had a good night sleep. Boy, that's a long read.

What got me interested was something I also have observed but more casually e.g. generally the price tends to extend or go to an extreme around an average price and that is what also is the basis of Bollinger Bands (that take into account some kind of standard deviation). Now, the extension beam we are talking, when do we draw it? To me it it looks like when the price starts going in one direction, the MA is usually a smooth slope hence the extension beam kind of works.

In other...
Good day,

We have tools to draw the extensions - no need to do so by hand.

Whenever the 91 MA beam crosses the ACTUAL 31 MA itself ( up or down) - we look to the recent high or low. Measure to the cross and extend in the other direction to get a possible target to where the leg may end.

I have spoken about the "mirrors" - this is just one tool to show those. It attempts to find the midpoint of a leg.

Discard the MA-TL indicator and apply this one.. input the requirements as per the PDF - set isRAY function to 1 ( from 0) to get the extended beam. Make each MA and RAY a different color. Then observe. This is no grail - just a tool. I attach a chart to help with the explanation.

I do not trade this as I am still observing. But having some tools to assist with possible TP levels need to be investigated - as this is probably the most difficult part of trading to get sorted - the Take profit level.

Regards
Attached Image (click to enlarge)
Click to Enlarge Name: hurst.jpg Size: 117 KB
Attached File(s)
File Type: mq4 AA$-Hurst Displaced MA.mq4   3 KB | 234 downloads
  • #331,943
  • Dec 7, 2012 12:18am Dec 7, 2012 12:18am
Quoting TauTrader
FXtyrant,

Here is a few for you... added the 55 and 200 on a chart. Displaced by half it's length ( 55 at shift - 28 ( closest full number to half length)) and 200 at shift - 100.

See what price does at these future lines. Interesting, is it not?

Heck, a break above the 55 future line towards the 200 future line, confirmed by your RSI divergence, may very well prove to be a good entry point and TP point...

Regards
Hello Sir..
vely interesting concept.. thx

GBP D1 200/55/21ma Hurst TL projection.. look ok to you?
Attached Image (click to enlarge)
Click to Enlarge Name: capture-20121207-062311 GBP D1 Hurst 2.png Size: 67 KB
  • #331,944
  • Dec 7, 2012 12:27am Dec 7, 2012 12:27am
Today we opened at the level of the minimal retracement 1,6046 (on daily). Therefore we can go north from this level with the purpose to break yesterday's maximum or with equal probability to go below to other levels of retracement (1,6030 1,5990 1,5978)
Daily resistance 1.6076
Lowest daily support 1.5978
  • #331,945
  • Dec 7, 2012 12:33am Dec 7, 2012 12:33am
Quoting A-speculator
quite a rejection we got on the ucad.. perhaps, ucad might not be trading below 9900 anytime soon, i reckon..

closed all my longs, and short the aussie..

while for cable, seems like that channel is broken, no significant momentum to the upside showing rejection.. i think cable gonna tank more..

i'm looking into a better price to short cable, not at current level.. perhaps, 6080 seems reasonable..
ill be humble
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #331,946
  • Dec 7, 2012 12:33am Dec 7, 2012 12:33am
Quoting A-speculator
quite a rejection we got on the ucad.. perhaps, ucad might not be trading below 9900 anytime soon, i reckon..

closed all my longs, and short the aussie..

while for cable, seems like that channel is broken, no significant momentum to the upside showing rejection.. i think cable gonna tank more..

i'm looking into a better price to short cable, not at current level.. perhaps, 6080 seems reasonable..
Here you are right
Daily resistance -- 1.6076 but local resistance – 1.6056
I am in short from 1.6107
  • #331,947
  • Dec 7, 2012 12:36am Dec 7, 2012 12:36am
Quoting PskovFX
Here you are right
Daily resistance -- 1.6076 but local resistance – 1.6056
I am in short from 1.6107
allright then..
  • #331,948
  • Dec 7, 2012 12:48am Dec 7, 2012 12:48am
Quoting cdndollar
Hello Sir..
vely interesting concept.. thx

GBP D1 200/55/21ma Hurst TL projection.. look ok to you?
Attachment
Hehe -

Mr.C - not sure if this was the intended way of using these extended MA's..

One wants to look for the 91 MA projection crossing with the 31 MA actual to find the midpoint. I hope you do not mind - I have scratched on your chart to show you what I am actually referring to. It's all easy peasy hindsight - of course...How you have applied these on your chart - that's interesting to say the least - I see they meet at a fib level..

Your trading decision was fortunately taken on merit a while ago.. I have no idea how this application will play out. I'm nervous on your behalf!

All success to you, sir

Regards
Attached Image (click to enlarge)
Click to Enlarge Name: capture-20121207-062311 GBP D1 Hurst 2.png Size: 98 KB
  • #331,949
  • Dec 7, 2012 12:52am Dec 7, 2012 12:52am
Quoting fxtyrant
Tight range heading to London Open....
i wonder which side will give way soon, will we break below that 1.6040 area that we find support from yesterday? or do we break north to see a pullback after yesterday's drop?

decisions decisions....

best to look at futures to see what the stock market is indicating for today's open... (FTSE100 futures)
https://dl.dropbox.com/u/52561775/Fo...22012.0603.gif
Wouldn't surprise me to see a pre NFP pump before a dump.

5970-80 is an interesting area to me.
Come with me if you want to live....
  • #331,950
  • Dec 7, 2012 12:53am Dec 7, 2012 12:53am
Quoting Ill-b-back


I took a second look and realised it was a "thumb" she was hugging
nice girl
90% of traders use TA, indicators and prediction
  • #331,951
  • Dec 7, 2012 12:53am Dec 7, 2012 12:53am
Quoting TauTrader
Good day,

We have tools to draw the extensions - no need to do so by hand.

Whenever the 91 MA beam crosses the ACTUAL 31 MA itself ( up or down) - we look to the recent high or low. Measure to the cross and extend in the other direction to get a possible target to where the leg may end.

I have spoken about the "mirrors" - this is just one tool to show those. It attempts to find the midpoint of a leg.

Discard the MA-TL indicator and apply this one.. input the requirements as per the PDF - set isRAY function to 1 ( from 0) to get the...
Oh darn. I don't have MT4. Maybe I should download one of those and try it out.
  • #331,952
  • Dec 7, 2012 12:56am Dec 7, 2012 12:56am
Quoting nAVIN2007
nice chart bro!!

let's see today nfp which direction...
yesterdayy dollar recovered some ground. was it just the beginning?!
also possible this is a small pullback in resistance/support areas.
i closed all my trades for today, need to relax
90% of traders use TA, indicators and prediction
  • #331,953
  • Dec 7, 2012 12:56am Dec 7, 2012 12:56am
Quoting TauTrader
Hehe -

Mr.C - not sure if this was the intended way of using these extended MA's..

One wants to look for the 91 MA projection crossing with the 31 MA actual to find the midpoint. I hope you do not mind - I have scratched on your chart to show you what I am actually referring to. It's all easy peasy hindsight - of course...How you have applied these on your chart - that's interesting to say the least - I see they meet at a fib level..

Your trading decision was fortunately taken on merit a while ago.. I have no idea how this application...
Pardon me. I didn't read the whole book yet. But isn't it important that price also meet the MAs? Else, it' projecting that bull season is coming back soon.
  • #331,954
  • Dec 7, 2012 12:56am Dec 7, 2012 12:56am
Quoting TauTrader
Hehe -

Mr.C - not sure if this was the intended way of using these extended MA's..

One wants to look for the 91 MA projection crossing with the 31 MA actual to find the midpoint. I hope you do not mind - I have scratched on your chart to show you what I am actually referring to. It's all easy peasy hindsight - of course...How you have applied these on your chart - that's interesting to say the least - I see they meet at a fib level..

Your trading decision was fortunately taken on merit a while ago.. I have no idea how this application...
Seems to spell the evil laugh MHAaaa
Come with me if you want to live....
  • #331,955
  • Dec 7, 2012 12:58am Dec 7, 2012 12:58am
Quoting Ill-b-back
Wouldn't surprise me to see a pre NFP pump before a dump.

5970-80 is an interesting area to me.
for me it feels more like a Dump first and Pump later (NFP is expected to come out better.... for risk on?)
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #331,956
  • Dec 7, 2012 1:02am Dec 7, 2012 1:02am
Quoting _BBKing_
nice girl
Thumbs up!
  • #331,957
  • Dec 7, 2012 1:04am Dec 7, 2012 1:04am
Quoting Ill-b-back
Seems to spell the evil laugh MHAaaa
MA MA MA MAAA MA BAKER
  • #331,958
  • Dec 7, 2012 1:04am Dec 7, 2012 1:04am
Quoting _BBKing_
nice girl
Yes, seems very "friendly"

BTW, if interested, connect the last 3 monthly swing highs (not including the most recent in Sept/Oct.
It should be a descending TL which we broke in September.

Then switch to the daily TF, put the fib tool from the turning point we had a few weeks ago to the most recent high. We have Some confluence there.

Also a posdible harmonic forming from there back upto 62xx area, ( but that final leg up is a possibility for next week IMO).

Edit: note daily candle reactions about this line
Come with me if you want to live....
  • #331,959
  • Dec 7, 2012 1:07am Dec 7, 2012 1:07am
Quoting fxtyrant
for me it feels more like a Dump first and Pump later (NFP is expected to come out better.... for risk on?)
Either way...
Come with me if you want to live....
  • #331,960
  • Dec 7, 2012 1:08am Dec 7, 2012 1:08am
Quoting TauTrader
MA MA MA MAAA MA BAKER
I'm a bit slow, Baker?
Come with me if you want to live....
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