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Cable Update (GBPUSD)

  • #334,081
  • Jan 17, 2013 9:40am Jan 17, 2013 9:40am
Quoting ZizoFX
Thank You Sir. This is exactly what I meant.
and i dont post that shit up just to make people hate me, i prefer to LEAD people into the good habit of posting their trade together with their thought process as to WHY they entered the trade....
and to start things going...
id like ot share this trade i opened during asia today...
i longed the UCAD today Long Entry Average at 0.9856

and here is the analysis to it....
MACD Bullish Divergence Signal occured on Candle Open, it also occured when Daily EMA 55 is BELOW Daily EMA200...
so i placed the long... Expecting USDCAD to reach atleast Daily EMA200 on this trade (Daily EMA200 is roughtly at 0.9950)
if people are familiar with my system... they would know that i will only Long if either MACD or RSI provides me with a Bullish Signal where Daily EMA 55 is BELOW Daily EMA 200, so the theory goes is to Long it BACK to the EMAs and vice versa for short entries

https://dl.dropbox.com/u/52561775/Fo...dcad.daily.gif
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #334,082
  • Jan 17, 2013 9:40am Jan 17, 2013 9:40am
Quoting alex1976
Hahahahahahahahahahahahaha, can I prove it???

Dude I dont have to prove anything, price speaks I listen.

My short trade from last night though is proving it.


You guys need to stop treating tradign like its some trigenometry exam and just look at price.

Good luck Bro!
I couldn't agree with this more!

Price Action @ Support / Resistance (PASR) will tell you all you need to know in trading. It is not just PRICE bouncing off SUPPORT and going to RESISTANCE or vice versa. It is about WATCHING what PRICE does at these important PRICE levels.

Understand why these levels exist and why they are there. They are levels where, at some point in history, BUYERS and SELLERS took control. They are levels where the BUYERS and SELLERS, in their own right, support or cannot support PRICE.

These PRICE levels are created by supply and demand during certain economic conditions. Supply and demand changes with each economic and political situation. What was once a PRICE level in a certain economic scenario may not be important or supported in a different economic situation.

Supply and demand will drive PRICE to those levels which are supported by the current economic and political conditions. Usually, these are levels identified in history but occasionally, each condition creates its own PRICE level.

Keep in mind, Support and Resistance levels hold more significance on the larger time frames so it is always wise to see what is going on with the monthly chart, then the weekly, then drop down to the daily.

Price Action tells a trader the "psychology" of the big boys at particular levels of significance. I posted the following last week but I'll say it again:

Great FOREX traders, always go back to the very foundation of a price chart, (a raw blank candle or bar chart), and make decisions based on the truest information available.

Observe the price behavior. Without any indicators, a market can be seen as trending, hitting resistance or support, congesting sideways, etc etc. No computer or indicator, or news item will provide this information perfectly, except the human brain.
  • #334,083
  • Jan 17, 2013 9:42am Jan 17, 2013 9:42am
Quoting fxtyrant
Demo or Live?
care to show?
ive seen a lot of newcomers on the forum who sees price move up and they say they longed last night, pretending they actually did....
not that im calling you a liar but care to show us charts because id be interested to hear the analysis rather than hearing people who say "oh their short trade from last night is proving it..."

Live

Went short at 6013, I have no reason to lie, afterall its only 1 dollar pips Im trading in my very small account.

Plus I wouldnt say Im a newcomer, I was on this forum from several years ago.


All im saying is that its funny when someone says prove it as in regards to price.

I said trend is down, as to that I meant the immenient trend on the daily. Which it obviously is.

If it changes course here now then thats another story.
  • #334,084
  • Jan 17, 2013 9:42am Jan 17, 2013 9:42am
Quoting alex1976
anyone can draw a bunch of lines on a chart and come up with several different possible scenarios, it simply doesnt work cause when you do that you lose focus of your system and start hesitating.
  • #334,085
  • Jan 17, 2013 9:43am Jan 17, 2013 9:43am
We are all hear to learn. There are a few traders here that i have respect for, not for their analysis but for their honesty & humbleness. As a trader, winning now doesn't mean you win forever just as in life. The tables could turn at any given time. Don't forget we are trading probabilities. If you knew it was going down 100% then you would put in all your money as that will be the wisest choice. At least I show on this forum what I expect & don't care what anyone else thinks about it. This is not an easy business so keep your eyes wide open & open your mind to learning everything that will help in making your business a better one.

Numbers NEVER Lie
  • #334,086
  • Jan 17, 2013 9:44am Jan 17, 2013 9:44am
Next 4hr bar for me closes in 2hrs 15 min.

Will then look again. May actually go long.. will see

Regards
  • #334,087
  • Jan 17, 2013 9:44am Jan 17, 2013 9:44am
Quoting 100PipsADay
I couldn't agree with this more!

Price Action @ Support / Resistance (PASR) will tell you all you need to know in trading. It is not just PRICE bouncing off SUPPORT and going to RESISTANCE or vice versa. It is about WATCHING what PRICE does at these important PRICE levels.

Understand why these levels exist and why they are there. They are levels where, at some point in history, BUYERS and SELLERS took control. They are levels where the BUYERS and SELLERS, in their own right, support or cannot support PRICE.

[b]These...

Nice delivery brother!
  • #334,088
  • Jan 17, 2013 9:45am Jan 17, 2013 9:45am
Quoting alex1976
Live

Went short at 6013, I have no reason to lie, afterall its only 1 dollar pips Im trading in my very small account.

Plus I wouldnt say Im a newcomer, I was on this forum from several years ago.


All im saying is that its funny when someone says prove it as in regards to price.

I said trend is down, as to that I meant the immenient trend on the daily. Which it obviously is.

If it changes course here now then thats another story.
Thanks for clarifying
i also agree with you that daily trend is down... i think i showed you a chart earlier where GBPUSD had the bearish divergence signal to short back to the Daily EMA 200, and we finally reached EMA200 today at 5950-ish... but after 5950... i cannot say....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #334,089
  • Jan 17, 2013 9:47am Jan 17, 2013 9:47am
Quoting ZizoFX
We are all hear to learn. There are a few traders here that i have respect for, not for their analysis but for their honesty & humbleness. As a trader, winning now doesn't mean you win forever just as in life. The tables could turn at any given time. Don't forget we are trading probabilities. If you knew it was going down 100% then you would put in all your money as that will be the wisest choice. At least I show on this forum what I expect & don't care what anyone else thinks about it. This is not an easy business so keep your eyes wide open &...

Ziz, Im not trying to be a tool, Im just saying simplify your trading. Stop looking at line congested charts and start looking at just price.

You will be glad you did
  • #334,090
  • Jan 17, 2013 9:48am Jan 17, 2013 9:48am
Quoting 100PipsADay
I couldn't agree with this more!

Price Action @ Support / Resistance (PASR) will tell you all you need to know in trading. It is not just PRICE bouncing off SUPPORT and going to RESISTANCE or vice versa. It is about WATCHING what PRICE does at these important PRICE levels.

Understand why these levels exist and why they are there. They are levels where, at some point in history, BUYERS and SELLERS took control. They are levels where the BUYERS and SELLERS, in their own right, support or cannot support PRICE.

[b]These...
imho, spot market,futures, indexes, commodities and other instrument like this is the leading indicator of the economy. that is why if you read current news, it won't work, you have to be able to translate the news into the future, some says it advance in the economy for at least 6 month..

perhaps that is why, most of the participant loses.. i think no one has time machine to see what's going on in the future.. lol.
  • #334,091
  • Jan 17, 2013 9:49am Jan 17, 2013 9:49am
Quoting alex1976
Live

Went short at 6013, I have no reason to lie, afterall its only 1 dollar pips Im trading in my very small account.

Plus I wouldnt say Im a newcomer, I was on this forum from several years ago.


All im saying is that its funny when someone says prove it as in regards to price.

I said trend is down, as to that I meant the immenient trend on the daily. Which it obviously is.

If it changes course here now then thats another story.
I can prove to you that trend is not down yet if you want. You never mentioned price action but you said "trend is down". Don't forget that there are other traders watching to see an opportunity that tallies with their own analysis even if they don't post on this forum. I was one of them until I was saved

If you are talking about price action, What is the monthly price telling you to do? I would like to know sir.

Its always good to show a chart of what you mean.

Regards
Numbers NEVER Lie
  • #334,092
  • Jan 17, 2013 9:51am Jan 17, 2013 9:51am
Quoting fxtyrant
Thanks for clarifying
i also agree with you that daily trend is down... i think i showed you a chart earlier where GBPUSD had the bearish divergence signal to short back to the Daily EMA 200, and we finally reached EMA200 today at 5950-ish... but after 5950... i cannot say....

Yes I agree we at a crossroads right here, but looking at weekly, short train looks fueled up. Obviously time will tell.
Attached Image
  • #334,093
  • Jan 17, 2013 9:52am Jan 17, 2013 9:52am
Quoting ZizoFX
I can prove to you that trend is not down yet if you want. You never mentioned price action but you said "trend is down". Don't forget that there are other traders watching to see an opportunity that tallies with their own analysis even if they don't post on this forum. I was one of them until I was saved

If you are talking about price action, What is the monthly price telling you to do? I would like to know sir.

Its always good to show a chart of what you mean.

Regards
He kinda did post saying that the Trend is Down... as in on the DAILY.... and i agree with him there.....
as for the Monthly.... from the looks is that.... yes the monthly trend is still up... but slowly diminishing momentum suggests the uptrend is being exhausted.
thats what im seeing in terms of the monthly price action...

But buddy you got to READ!.... he did say the DAILY chart.... and him seeing it being a bearish Daily....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #334,094
  • Jan 17, 2013 9:53am Jan 17, 2013 9:53am
Quoting alex1976
Ziz, Im not trying to be a tool, Im just saying simplify your trading. Stop looking at line congested charts and start looking at just price.

You will be glad you did
I'm still learning PA.

Thanks for the Advice though
Numbers NEVER Lie
  • #334,095
  • Jan 17, 2013 9:55am Jan 17, 2013 9:55am
Quoting ZizoFX
I'm still learning PA.

Thanks for the Advice though

Cool Brother, naked price is all you need, some patience and good money management


Here to help others and learn more myself also.
  • #334,096
  • Jan 17, 2013 9:58am Jan 17, 2013 9:58am
Trading FX is a lonely game and thats why were all here, not because were losers, but to learn from eachother and become profitable traders.
  • #334,097
  • Jan 17, 2013 9:59am Jan 17, 2013 9:59am
Quoting TauTrader
Sir - no.no.

Was not trying to indicate something different. An honest observation and question. Checking if I'm understanding the flag concept.

No agenda.

Regards
lol
since some 2 months i left all diagonal drawings... so i could be mistaking everytime now
in the end ... let's say weekly chart is bit not clear if seen in diagonal way.
while if weekly candle closes like this now, would mean more down to come next
90% of traders use TA, indicators and prediction
  • #334,098
  • Jan 17, 2013 10:17am Jan 17, 2013 10:17am
Strong move down after the pullback off yesterday's low 5975 to 6034 area....tested the weejky ascending trend line and held - shown here on daily chart - vounce from there so far at least. 3rd LL on this daily chart now

G/L
Attached Image (click to enlarge)
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ex member
  • #334,099
  • Jan 17, 2013 11:19am Jan 17, 2013 11:19am
Quoting fxtyrant
Yes well i had the signal to short and my strategy suggests that when a signal presents where a Short signal occurs when Daily EMA 55 is above Daily EMA 200, you can short BACK to those EMAs... and today proves my strategy works problem is.... i have noooo idea if market goes beyond EMA200....

like if u look back at my chart i know to short GBPUSD from 1.63 down to 1.5950-ish (of which ive been shouting for weeks as thats where the EMA200 is at)....
but if EMA200 gets broken... i have NO other point of reference other than to Plot Trendlines,...
Yep I understand, and I had misunderstood the tone of your post and so I deleted my post. I don't want to get the trolls too excited. Not too sure about the strategy, though. I don't use ma's except as a broad (at a glance) guide to the trend, but zooming out will do that. I have noted that price will always return to an ma sooner or later, obviously. Anyway, thanks for the reply.
Gone to a better place
  • #334,100
  • Jan 17, 2013 12:02pm Jan 17, 2013 12:02pm
Quoting TauTrader
Next 4hr bar for me closes in 2hrs 15 min.

Will then look again. May actually go long.. will see

Regards
The last 4hr bar pulled back a bit too much for my liking. So not going to enter now. Will leave it for tomorrow. May get opportunity then.

Regards
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