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Cable Update (GBPUSD)

  • #333,741
  • Jan 14, 2013 2:12pm Jan 14, 2013 2:12pm
Quoting Ill-b-back
That's a good r/r entry

Been watching your PA bars around supply and demand areas, and how you are decoding the market.
I'm very intrigued at your interpretation of the pa. Looks promising once mastered.
It really is the Oldest Trading System on ForexFactory ...
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  • #333,742
  • Jan 14, 2013 2:23pm Jan 14, 2013 2:23pm
Quoting taomql4
It really is the Oldest Trading System on ForexFactory ...
90% of traders use TA, indicators and prediction
  • #333,743
  • Jan 14, 2013 2:42pm Jan 14, 2013 2:42pm
15 Mins Update
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Numbers NEVER Lie
  • #333,744
  • Jan 14, 2013 2:44pm Jan 14, 2013 2:44pm
Quoting Ill-b-back
Hello Sir ZizoFX, thanks mate, have a great week also, and keep those pips green Sir
Thank you Sir Ill-be-back. I will try to keep them green
Numbers NEVER Lie
  • #333,745
  • Jan 14, 2013 3:44pm Jan 14, 2013 3:44pm
Quoting taomql4
It really is the Oldest Trading System on ForexFactory ...
That's probably why I missed it,

lol...

Nice one dude
Come with me if you want to live....
  • #333,746
  • Jan 14, 2013 4:23pm Jan 14, 2013 4:23pm
GBP/USD Weekly - 10 Year Chart

4-Year Symmetrical Triangle

This pattern is getting so tightly squeezed, a breakout is imminent. This means that GBP/USD will breakout into a new multi-year trend after having been stuck in a four-year range. Which way will the she go, up or down?

My money is on a breakout to the downside but will wait to see what happens, currently flat on GBP/USD.

http://sovereignsociety.com/files/20...I-Graph-16.png
  • #333,747
  • Jan 14, 2013 11:02pm Jan 14, 2013 11:02pm
Quoting taomql4
It really is the Oldest Trading System on ForexFactory ...
Good one taomql. I agree with your analysis about supply and demand zones but we also have to take into consideration...gap on EUR/GBP at 82.70 must be closed and when the E/U is firm...u can count on GBP to rally.
There is all set. At 16040 high volume (stopping volume)...demand came...and there is
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  • #333,748
  • Jan 15, 2013 1:53am Jan 15, 2013 1:53am
Quoting nAVIN2007
Very good points u make, its crazy how a simple game can become so complex with regards to tyrant (Byran). He must learn somehow that things take time to develop, the first step to trading is getting technical information seen on a chart with the signals u those. Then you have to somehow think differently about yur capital, stop seeing it as money but more a tool to play the game after this is accomplished is where the games begin.

..what did i do to change?? i evolved
Yes but through pain..and learning to think different - needing to...
ORDER IN THE MARKETS: As I said in my last post, put 2 charts side by side on a 60 min. ,one for gbp/jpy and another for gbp/usd and even do both for a daily chart too. I cant imagine what system would do better in the chaos of the gbp/usd pair. I myself (and you can read some of my other posts that back this up) always say-DONT DEPEND ON NEWS....But definitely you can judiciously pick out "gimmees" where you know the news will move the market for days or longer and those you must play. For example, im having the best 4 weeks of my life just going long the JPY,day after day after day. And I never play long on charts this extended and over-bought but when the prime minister of Japan says he is bringing the YEN down, Im surprised it didnt happen twice as fast. What? Did people think he was puilling a trick, and releasing completely worthless news..............like America does? Nooooooo. The Japanese are too honrable fore those games. So some times you gotta throw the charts out and use your ears. This was one of the biggest give -me's in Forex history. I bet people got rich off of that one comment. Now by the way I went short the cad/jpy . i CAN ALWASY JUMP BACK ON THE LONG TRAIN.

Anyway, to help out the newbies who like all of us did in the beginning ,make things far too complicated, I will repeat the words of a former mentor, who is far smarter than I EVER WILL BE. HE SAID: "When getting out of a trade, ask yourself, has the reason for being in the trade gone away? And if no is the answer....stay in! And stop taking profits too early! He then continues, now for entries, before you get in, ask yourself, if this was the only trade of the day I could take, would I take it. And if your answer is a quick no, you probably shouldnt."

I WISH I HAD THAT SIMPLE WISDOM 10 YEARS AGO. I would probably be triple the trader I am today.

Another big help that I paid thousands of dollars in a chat room to be coached by this guy to get is: Every day when your trading day is done, you should review every trade you take and even print them out and circle where you got in and where you got out and ask yourself, where you could have changed your entry or exit to have made it a better trade. And another mentor took that advice totally over the top by saying..."If reviewing or even just journaling all of your trades seems like a lot of work...YOU ARE OVER-TRADING!"



If I were to ever charge for my information that I gleaned from my years of trading, I would charge 5-10k juast for the above paragraph. Thats how much it has helped me and must help any trader regardless of his time frame or style.

And as long as Im in this reminiscent state here.....(smile)...I ask myself when I start to get too cocky, what would happen if I did was in the minus column after any six month period. Could I handle it? And the true answer is that if you cant handle it....keep your day job until you can. Thats another 10k worth of info that would have saved me a fortune from quitting jobs to trade over the years!


BTW.....whoi is the "head trader" here and what system are we following? Supply and demand software? I have scrolled down quite a bit and it seems there is not a lot of people on the same channel all the time. I guess that is good and bad.
  • #333,749
  • Jan 15, 2013 1:57am Jan 15, 2013 1:57am
I'm online in 5 minutes for usual daily checkup on charts to share my study and/or trade ideas with this order:

EUR USD
GBP USD
EUR GBP
ECH+GCH
GOLD
-10 minutes each-

if interested, follow this link and join. NO SUBSCRIPTION required, is just sharing ideas live.
p.s. not for scalpers, i'm a swing trader
90% of traders use TA, indicators and prediction
  • #333,750
  • Jan 15, 2013 2:24am Jan 15, 2013 2:24am
Quoting Silat50
ORDER IN THE MARKETS: As I said in my last post, put 2 charts side by side on a 60 min. ,one for gbp/jpy and another for gbp/usd and even do both for a daily chart too. I cant imagine what system would do better in the chaos of the gbp/usd pair. I myself (and you can read some of my other posts that back this up) always say-DONT DEPEND ON NEWS....But definitely you can judiciously pick out "gimmees" where you know the news will move the market for days or longer and those you must play. For example, im having the best 4 weeks of my life just going...
Until we break out of this huge triangle that has been a topic of discussion for the last 12 months or so, I don't expect everyone to be on the same channel.
With current PA, might as well give my 12 month old daughter the remote
Come with me if you want to live....
  • #333,751
  • Jan 15, 2013 3:19am Jan 15, 2013 3:19am
G/M

Bearish bodies daily candle yesterday with a long lower wick (hammer-esq?) and a bullish start to the day today.50% 6153-6031 has contained upside for now...Uk data due at 0930 and 1000am London time and last 1hr close suggest better chance of a break to the upside than not - data excepted.

1hr below

G/L
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ex member
  • #333,752
  • Jan 15, 2013 3:23am Jan 15, 2013 3:23am
Quoting bbmac
G/M

Bearish bodies daily candle yesterday with a long lower wick (hammer-esq?) and a bullish start to the day today.50% 6153-6031 has contained upside for now...Uk data due at 0930 and 1000am London time and last 1hr close suggest better chance of a break to the upside than not - data excepted.

1hr below

G/L
Agree, and H4 looks bullish. Not often I hold scalp trades overnight.
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  • #333,753
  • Jan 15, 2013 3:45am Jan 15, 2013 3:45am
downside knee-jerk data reaction and back in the range lol ! Uk's Boe gvr Merv the Swerv on at 10am London. Only 28% of 20 day atr covered so far today...20 day atr is now at 100 (yippee!!)

G/L
ex member
  • #333,754
  • Jan 15, 2013 3:58am Jan 15, 2013 3:58am
my study in the following 6-10minutes videos:
EUR USD here
GBP USD here
EUR GBP here

in the channel also GOLD and Gch+Ech
90% of traders use TA, indicators and prediction
  • #333,755
  • Jan 15, 2013 4:01am Jan 15, 2013 4:01am
Some pre news scalp and some left on.
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  • #333,756
  • Jan 15, 2013 4:06am Jan 15, 2013 4:06am
1Hr hanging man close ? Still bullish bias ?

G/L
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ex member
  • #333,757
  • Jan 15, 2013 4:06am Jan 15, 2013 4:06am
This area is important.
let's see if able to conquer >6100
i'm holding my long position.
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90% of traders use TA, indicators and prediction
  • #333,758
  • Jan 15, 2013 4:21am Jan 15, 2013 4:21am
Quoting Silat50
ORDER IN THE MARKETS: As I said in my last post, put 2 charts side by side on a 60 min. ,one for gbp/jpy and another for gbp/usd and even do both for a daily chart too. I cant imagine what system would do better in the chaos of the gbp/usd pair. I myself (and you can read some of my other posts that back this up) always say-DONT DEPEND ON NEWS....But definitely you can judiciously pick out "gimmees" where you know the news will move the market for days or longer and those you must play. For example, im having the best 4 weeks of my life just going...
Each and every1 in here is the head trader and each one, bar a few follow what the see on the dam chart
I know not of a head trader
  • #333,759
  • Jan 15, 2013 4:23am Jan 15, 2013 4:23am
proving a ' tuff nut to crack ' this 6090-6100 level..the lower t/f's look horrible lol !

G/L
ex member
  • #333,760
  • Jan 15, 2013 4:26am Jan 15, 2013 4:26am
Quoting _BBKing_
This area is important.
let's see if able to conquer >6100
i'm holding my long position.
i'm not so sure we're going back above 6100 mate.. i'm also hoping for 6120 for fresh short but seems like the price settling at the lowest resistance level of 6090 area.. opened a position at 6090 area already and might add if price reach 6120, SL would be price just above 6120..
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