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Cable Update (GBPUSD)

  • #352,881
  • Nov 12, 2013 10:03am Nov 12, 2013 10:03am
Quoting nAVIN2007
{quote} we have all been there..i remember killing myself and all i did is breakeven at best..but i felt like i was in the ring with tyson..exhausted

Absolutely.
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #352,882
  • Nov 12, 2013 10:26am Nov 12, 2013 10:26am
Quoting nAVIN2007
{quote} looking at the 4hr developing bro!!..she aint finished yet..the first round was just her passing wind

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Those who say it cannot be done should not interrupt those who are doing it
  • #352,883
  • Nov 12, 2013 10:28am Nov 12, 2013 10:28am
Quoting 45Condor
1.55?... hmm, it would correspond with my 38.2 FE. 1.57 would most likely correspond to the top of the red MAs of the Guppy profile. However, I'm not sure it is quite the time to be calling for a bear drubbing of the nose in the sand. Tomorrow will witness the devil incarnate coughing out Carney blarney to support decisions about our futures that, nevermind having already been taken, are well underway, but not revealed to us. ... I'm so ashamed to be British sometimes when the best that our hallowed institutions can be present is a paid-up member...
Let's just say the Canadians love Cameron now
Those who say it cannot be done should not interrupt those who are doing it
  • #352,884
  • Nov 12, 2013 10:38am Nov 12, 2013 10:38am
500 PPAA - A different perspective of the Market

I find it pitiable when I see most traders getting excited in situations where price has not moved by at least 500 pips. To be successful in this business, a trader needs to change his perspective. Don't get interested in GBPUSD if price has not moved by at least 500 pips. Look at the monthly, weekly, daily and even H4 charts for GBPUSD and begin to consider the market from a different perspective.

I can't help but occasionally share my ideas when I see traders roaming around aimlessly on some of the popular threads on FF.

This is my view.
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  • #352,885
  • Nov 12, 2013 10:39am Nov 12, 2013 10:39am
Quoting nAVIN2007
{quote} we have all been there..i remember killing myself and all i did is breakeven at best..but i felt like i was in the ring with tyson..exhausted
There is only one Guy i have seen take every turn on a pair with a 5 min chart, whilst waiting for a swing trade to play out.

That guy is Ken Mann
I need to finish something i started
  • #352,886
  • Nov 12, 2013 10:42am Nov 12, 2013 10:42am
Quoting Articulate
500 PPAA - A different perspective of the Market I find it pitiable when I see most traders getting excited in situations where price has not moved by at least 500 pips. To be successful in this business, a trader needs to change his perspective. Don't get interested in GBPUSD if price has not moved by at least 500 pips. Look at the monthly, weekly, daily and even H4 charts for GBPUSD and begin to consider the market from a different perspective. I can't help but occasionally share my ideas when I see traders roaming around aimlessly on some of...
What do those three charts tell us other than showing how to draw 500 pip bands?
Don't have an ego. Always question yourself and your ability.
  • #352,887
  • Nov 12, 2013 10:44am Nov 12, 2013 10:44am
one step at a time: 1.5750, 1.5600, 1.5400

this drop of cable is well predictable from the converging rising wedge (the green lines) on the daily. The recent big euro drop and aussie drop were also out of the converging wedge.

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http://www.forexfactory.com/showthre...19#post7064719
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aussie converging wedge,
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ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #352,888
  • Nov 12, 2013 10:49am Nov 12, 2013 10:49am
Quoting Articulate
500 PPAA - A different perspective of the Market I find it pitiable when I see most traders getting excited in situations where price has not moved by at least 500 pips. To be successful in this business, a trader needs to change his perspective. Don't get interested in GBPUSD if price has not moved by at least 500 pips. Look at the monthly, weekly, daily and even H4 charts for GBPUSD and begin to consider the market from a different perspective. I can't help but occasionally share my ideas when I see traders roaming around aimlessly on some of...
That's not a view. That's just a bunch of charts divided into 500 pip bands. Anybody can do that.
If you have a view - meaning, a long or short view, for a particular time-frame, and possible target - please share it.
Please try to share stuff that's more useful than this:
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I have no clue what I'm talking about.
  • #352,889
  • Edited 11:43am Nov 12, 2013 11:01am | Edited 11:43am
Quoting PipTrapper
{quote} Let's just say the Canadians love Cameron now

Yeah, I'm sure they do, but what has he left in his wake for you?

You wouldn't be so kind as to take him back, would you? I warmed a little to Merv the financial perv towards the end of his tenure as he started to let slip his real thoughts about how the banks have buggered us.
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #352,890
  • Nov 12, 2013 11:03am Nov 12, 2013 11:03am
Quoting 45Condor
{quote} Yeah, I'm sure they do, but what has he left in his wake for you? You wouldn't be so kind as to take him back, would you? I warming a little to Merv the financial perv towards the end of his tenure as he startd to let slip his real thoughts about how the banks have buggered us.
See? The truth will get you sacked.
Those who say it cannot be done should not interrupt those who are doing it
  • #352,891
  • Nov 12, 2013 11:08am Nov 12, 2013 11:08am
Quoting RamsesII
{quote} What do those three charts tell us other than showing how to draw 500 pip bands?
@RamsesII

Here are a few of things my charts tell a smart trader:

1. The cable traded between 1.4800 and 1.5800 for 6 solid months before breaking out in the 7th month
2. The cable has been trading between 1.6300 and 1.58000 in the last 2 months
3. We are seeing the 2nd bearish candle after 7 months of bullish consolidation to from 1.4800-1.6300
4. The bigger picture is bearish until the monthly candle says otherwise
5. The weekly candles tell us that the "big players" are consolidating between 1.6300 -1.5800
6. If 1.5800 is breached by the the bear, the next target is around 1.5300

I still repeat my message "Don't get interested in GBPUSD if price has not moved by at least 500 pips".

If you can't see any of the above scenarios, then you still have a long way to go.
  • #352,892
  • Nov 12, 2013 11:09am Nov 12, 2013 11:09am
Quoting bigwal
{quote} There is only one Guy i have seen take every turn on a pair with a 5 min chart, whilst waiting for a swing trade to play out. That guy is Ken Mann

i bet he is lying as well
I seen it people apparently excellent scalpers yet they looking for funds to manage accounts..if a scalper is that good..with the power of compounding he will not need money from people to manage funds..and pay commisions

they are good scalpers but the smart money is not scalping because most of it is just noise
  • #352,893
  • Nov 12, 2013 11:10am Nov 12, 2013 11:10am
Quoting Articulate
{quote} @RamsesII Here are a few of things my charts tell a smart trader: 1. The cable traded between 1.4800 and 1.5800 for 6 solid months before breaking out in the 7th month 2. The cable has been trading between 1.6300 and 1.58000 in the last 2 months 3. We are seeing the 2nd bearish candle after 7 months of bullish consolidation to from 1.4800-1.6300 4. The bigger picture is bearish until the monthly candle says otherwise 5. The weekly candles tell us that the "big players" are consolidating between 1.6300 -1.5800 6. If 1.5800 is breached by...

nice info but 500 pips is worth some time
  • #352,894
  • Nov 12, 2013 11:23am Nov 12, 2013 11:23am
Quoting Articulate
500 PPAA - A different perspective of the Market I find it pitiable when I see most traders getting excited in situations where price has not moved by at least 500 pips. To be successful in this business, a trader needs to change his perspective. Don't get interested in GBPUSD if price has not moved by at least 500 pips. Look at the monthly, weekly, daily and even H4 charts for GBPUSD and begin to consider the market from a different perspective. I can't help but occasionally share my ideas when I see traders roaming around aimlessly on some of...

You can do better by simply draw a channel on weekly.
Sell Top,Buy Bottom (must have patience and trade with smaller lots otherwise not for you)
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In trading, you have to be defensive and aggressive at the same time
  • #352,895
  • Nov 12, 2013 11:30am Nov 12, 2013 11:30am
Quoting nAVIN2007
{quote} i bet he is lying as well I seen it people apparently excellent scalpers yet they looking for funds to manage accounts..if a scalper is that good..with the power of compounding he will not need money from people to manage funds..and pay commisions they are good scalpers but the smart money is not scalping because most of it is just noise
Errr, he is not lying, he has no need to brag or lie. Infact he is quite humble.

He trades his own money.

"Just Noise" Every move or pattern has a purpose, i thought you would of known that. Navin, i had you down as being different , maybe i was mistaken
I need to finish something i started
  • #352,896
  • Nov 12, 2013 11:38am Nov 12, 2013 11:38am
Quoting bigwal
{quote} Errr, he is not lying, he has no need to brag or lie. Infact he is quite humble. He trades his own money. "Just Noise" Every move or pattern has a purpose, i thought you would of known that. Navin, i had you down as being different , maybe i was mistaken
I said "i bet" ..so i dont know for definate
also if he is not managing account..then im not taking about him..plz notice the noise part u are reffering too and the word "most"

another thing..if i can ask u what is the difference between trading a 1 minute chart and say monthly..they are not the same or are they?
  • #352,897
  • Nov 12, 2013 11:47am Nov 12, 2013 11:47am
Quoting nAVIN2007
{quote} I said "i bet" ..so i dont know for definate also if he is not managing account..then im not taking about him another thing..if i can ask u what is the difference between trading a 1 minute chart and say monthly..they are not the same or are they?
Does scalping have to be on a 1min chart, i quite like 5min. The turn on a monthly starts on the 1 min chart.

I must be talking some sense, you vouched for me!
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Warren
I need to finish something i started
  • #352,898
  • Nov 12, 2013 12:00pm Nov 12, 2013 12:00pm
Quoting bigwal
{quote} Does scalping have to be on a 1min chart, i quite like 5min. The turn on a monthly starts on the 1 min chart. I must be talking some sense, you vouched for me! {image} Warren

i just picked 2 extremes..lets say 5 minute and monthly or daily..are they the same or not?
  • #352,899
  • Nov 12, 2013 12:10pm Nov 12, 2013 12:10pm
So far my buy purchase isn't working out for me. If we keep heading down, I may have to try and Martingale this thing.
  • #352,900
  • Nov 12, 2013 12:17pm Nov 12, 2013 12:17pm
Quoting bigwal
{quote} Does scalping have to be on a 1min chart, i quite like 5min. The turn on a monthly starts on the 1 min chart. I must be talking some sense, you vouched for me! {image} Warren
Navin vouches for everybody
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