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Cable Update (GBPUSD)

  • #351,721
  • Nov 4, 2013 9:41am Nov 4, 2013 9:41am
Quoting TauTrader
large qty of retails short stops @ 1.6059 and 1.6198, with bulk of long stops @ 1.5758 and 1.5600.
hello - where do you get this info please?
  • #351,722
  • Nov 4, 2013 9:48am Nov 4, 2013 9:48am
Quoting aBitWonKy
{quote} This quote taken from your link \"Pivot points are very useful tools that use the previous bars' highs, lows and closings to project support and resistance levels for future bars.\" What are you (or any of us) doing when drawing SD, if it's not that? Just because you do it visually and manually doesn't make you any more right than the statement above. Discounting something because there are lots of them is wrong. I agree there are loads of pivot types and i have spent a lot of time researching pivots. I use 2 types (on lower TF specifically)....

Thanks for pointing out the obvious.I do know what a pivot is and I know the history of it and who started using 1st .
It was my point of view trying to help in subtle way to see outside the box but I realize everyone finds their own truths along the journey.I recall I did write "If it works for you by all means ignore what I wrote"
Regards

I have 6 shorts on GU if everyone wonders about my trades....The green lines were all over my charts....
I would not waste my time hanging here if I had no GU trades.I also trade GC....
In trading, you have to be defensive and aggressive at the same time
  • #351,723
  • Nov 4, 2013 9:53am Nov 4, 2013 9:53am
Quoting okanemici
{quote} Thank you Davit, I don't have pivots on my charts because there are many of them.After your comments I'm more confident in my charts for not using them and using my own strategy Have a good trading week.

You are already making huge strides ahead to successful trading.The more you pay attention to fundemetals and Price Action more you will progress.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #351,724
  • Nov 4, 2013 9:59am Nov 4, 2013 9:59am
GU 15
Attached Image (click to enlarge)
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  • #351,725
  • Nov 4, 2013 10:11am Nov 4, 2013 10:11am
It is already well known that market is lot more sophisticated now then before.With lots of robots trading targeting Pivot traders,typical indicator traders mainly taking their money by hitting stops.
Most traders place their stops 10-20 pips under /over pivots S/R clusters,fib levels and no wonder you get stopped out.
Challenge is how to avoid those zones.I will not elaborate how but be aware that you are being targeted.
I placed the pivot to illustrate a point in my example.I don't use them.
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In trading, you have to be defensive and aggressive at the same time
  • #351,726
  • Nov 4, 2013 10:28am Nov 4, 2013 10:28am
Quoting JimmyC
GU 15 {image}
GU H1
fyi
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  • #351,727
  • Nov 4, 2013 10:28am Nov 4, 2013 10:28am
Quoting Davit
{quote} Thanks for pointing out the obvious.I do know what a pivot is and I know the history of it and who started using 1st . It was my point of view trying to help in subtle way to see outside the box but I realize everyone finds their own truths along the journey.I recall I did write \"If it works for you by all means ignore what I wrote\" Regards I have 6 shorts on GU if everyone wonders about my trades....The green lines were all over my charts.... I would not waste my time hanging here if I had no GU trades.I also trade GC....
Gather up your skirts, no need for that attitude.... a bit defensive aren't we?

Where did i doubt your abilities in any way? I was simply attempting to offer another side to the pivot story. Anyway, lets move on, you obviously have the advantage over me, what with knowing when it all started and by whom (they are very relevant facts in trading after all).
  • #351,728
  • Nov 4, 2013 10:30am Nov 4, 2013 10:30am
Quoting JimmyC
GU 15 {image}
I don't like low TF trades, not very reliable

G/L
  • #351,729
  • Nov 4, 2013 10:33am Nov 4, 2013 10:33am
Quoting Davit
It is already well known that market is lot more sophisticated now then before.With lots of robots trading targeting Pivot traders,typical indicator traders mainly taking their money by hitting stops. Most traders place their stops 10-20 pips under /over pivots S/R clusters,fib levels and no wonder you get stopped out. Challenge is how to avoid those zones.I will not elaborate how but be aware that you are being targeted. I placed the pivot to illustrate a point in my example.I don't use them. {image}
haha, S1 = great place to get long in your example. What your example shows is that S1 worked a treat and price bounced from it beautifully. Those of us eqiupped to read price in zones like that drool over such clear examples.

thank you for proving my point.
  • #351,730
  • Nov 4, 2013 10:34am Nov 4, 2013 10:34am
Quoting JimmyC
{quote} I don't like low TF trades, not very reliable G/L
Short Wedge / Triangle

Entry was 1.59565 (not going well)
Stop is 1.59688
Target last TP of the triangle etc 1.59289

RSI capped by descending TL
Valid entry 66% probability but low TF I don't have numbers

(This one looks bad)

Name of the game

G/L
  • #351,731
  • Nov 4, 2013 10:35am Nov 4, 2013 10:35am
Quoting JimmyC
{quote} Short Wedge / Triangle Entry was 1.59565 (not going well) Stop is 1.59688 Target last TP of the triangle etc 1.59289 RSI capped by descending TL Valid entry 66% probability but low TF I don't have numbers (This one looks bad) Name of the game G/L
BBL
  • #351,732
  • Nov 4, 2013 10:37am Nov 4, 2013 10:37am
Quoting Davit
{quote} You are already making huge strides ahead to successful trading.The more you pay attention to fundemetals and Price Action more you will progress. Regards
Thank you, I still have to learn a lot but I feel the progress too.Thanks for the compliment
  • #351,733
  • Nov 4, 2013 10:51am Nov 4, 2013 10:51am
Is anyone watching GBP/CHF and AUD/NZD 15 minute charts?

They seem to be inverse mirror images. Coincidence?
  • #351,734
  • Nov 4, 2013 11:08am Nov 4, 2013 11:08am
Quoting Uglybug
Is anyone watching GBP/CHF and AUD/NZD 15 minute charts? They seem to be inverse mirror images. Coincidence?
They are inversely similar, but not mirror images.
Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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Those who say it cannot be done should not interrupt those who are doing it
  • #351,735
  • Nov 4, 2013 11:28am Nov 4, 2013 11:28am
Quoting JimmyC
{quote} Short Wedge / Triangle Entry was 1.59565 (not going well) Stop is 1.59688 Target last TP of the triangle etc 1.59289 RSI capped by descending TL Valid entry 66% probability but low TF I don't have numbers (This one looks bad) Name of the game G/L
jimmy how did u get into trading? ..what yah story
  • #351,736
  • Nov 4, 2013 11:55am Nov 4, 2013 11:55am
careful of tl $ bear ,from w1 I would say hold ,
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #351,737
  • Nov 4, 2013 11:56am Nov 4, 2013 11:56am
Quoting aBitWonKy
{quote} hello - where do you get this info please?
Good day to you, sir

Not going to advertise and cannot send you a PM - not activated on your side. It's a paid service.

Regards to you
  • #351,738
  • Nov 4, 2013 11:57am Nov 4, 2013 11:57am
Quoting nAVIN2007
{quote} jimmy how did u get into trading? ..what yah story
For me it all started with coconut shells
Attached Image
Those who say it cannot be done should not interrupt those who are doing it
  • #351,739
  • Nov 4, 2013 11:57am Nov 4, 2013 11:57am
Quoting nAVIN2007
{quote} jimmy how did u get into trading? ..what yah story
Seemed like a good idea at the time, put some money in had 800 bucks go lost half.... And I am Scottish! Ma head said gotta be a better way, so read some books got a DMA broker and here we are trying to get it back, bit by bit, control risk, MM and trading psychology all being explored. I'm green but I'm keen

GU 15

Attached Image


Could be fun... but low TF... again

G/L
  • #351,740
  • Nov 4, 2013 12:05pm Nov 4, 2013 12:05pm
lol cool ,are you trading in $


Quoting JimmyC
{quote} Seemed like a good idea at the time, put some money in had 800 bucks go lost half.... And I am Scottish! Ma head said gotta be a better way, so read some books got a DMA broker and here we are trying to get it back, bit by bit, control risk, MM and trading psychology all being explored. I'm green but I'm keen GU 15 {image} Could be fun... but low TF... again G/L
On-site guru & also FF member's' psychiatrist, when not drinking tea
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