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Cable Update (GBPUSD)

  • #379,901
  • May 30, 2014 5:49am May 30, 2014 5:49am
Quoting elbert3
{quote} morning we seem to be going in different lol , short from 50 and looking to stay in??? pp on 40 just in case . Rs.E
Good morning, yes, I saw that......but that's what makes the market interesting, doesn't it...
G/L
Hear the music before the song is over ...
  • #379,902
  • May 30, 2014 5:53am May 30, 2014 5:53am
Quoting GlobalMacro
{quote} Good morning, yes, I saw that......but that's what makes the market interesting, doesn't it... G/L
yes all we do is swap the money,,lol gl E
  • #379,903
  • May 30, 2014 5:54am May 30, 2014 5:54am
Quoting Kofmaster
I'm still very confident we will go back to the support turn resistance area. Is either situation a or situation b will happen. {image}
If the support @1.6728 breaks, I think we are probably heading down to 1.665
  • #379,904
  • May 30, 2014 5:56am May 30, 2014 5:56am
Quoting Carlicus
{quote} If the support @1.6728 breaks, I think we are probably heading down to 1.665
1.67 is critical area for me. We shall see
Read the entire market, money is made on the main trend not the fluctuation
  • #379,905
  • May 30, 2014 5:59am May 30, 2014 5:59am
Quoting elbert3
{quote} yes all we do is swap the money,,lol gl E
Issuing it would be a lot more fun, but that's something reserved for
the big dogs at the very top...this is as good as it gets I guess...lol
Hear the music before the song is over ...
  • #379,906
  • May 30, 2014 6:02am May 30, 2014 6:02am
Quoting carlicus
{quote} if the support @1.6728 breaks, i think we are probably heading down to 1.665
Attached Image (click to enlarge)
Click to Enlarge Name: 30.png Size: 92 KB
for me trendis going short, a break of the 100 blue should give a clear road, the red and white emas will cross ??
  • #379,907
  • May 30, 2014 6:04am May 30, 2014 6:04am
Quoting GlobalMacro
{quote} Issuing it would be a lot more fun, but that's something reserved for the big dogs at the very top...this is as good as it gets I guess...lol
YES BUT LET US THINK BIG DOGS ,,LOL I HAVE TO GO BOARD MEETING ,I PHONE WILL BE ON, I HAVE MY SUIT ON AND OFF I GO,,LOL GL REGARDS Billy
  • #379,908
  • May 30, 2014 6:07am May 30, 2014 6:07am
Quoting GlobalMacro
{quote} Market finally managed to breach 735-745 resistance and close above 736 to high of 760... I'm in long here on retracement at 1.6730.
Wanna learn few things from position trader. May I know where is your sl / mental sl ?
Read the entire market, money is made on the main trend not the fluctuation
  • #379,909
  • May 30, 2014 6:10am May 30, 2014 6:10am
Quoting elbert3
{quote} YES BUT LET US THINK BIG DOGS ,,LOL I HAVE TO GO BOARD MEETING ,I PHONE WILL BE ON, I HAVE MY SUIT ON AND OFF I GO,,LOL GL REGARDS Billy
Go get 'em, Tiger
Hear the music before the song is over ...
  • #379,910
  • May 30, 2014 6:12am May 30, 2014 6:12am
Quoting Kofmaster
{quote} Nah, I don't think so. The senior here think what they think is much more important and correct than the study done. Better don't say anything else or they accuse you trying to sell anything here. just silent do your business
That's not right, or very nice actually.

I don't recall giving Carlicus a hard time over volume or accusing him of selling anything? In fact, we quite nicely discussed how we "both" look at it.

Perhaps it's this kind of attitude that got you in an argument with a "senior" yesterday? ..... Just a thought...
Ghost Rider - WWTBMD?
  • #379,911
  • May 30, 2014 6:15am May 30, 2014 6:15am
Quoting albchr
{quote} That's not right, or very nice actually. I don't recall giving Carlicus a hard time over volume or accusing him of selling anything? In fact, we quite nicely discussed how we "both" look at it. Perhaps it's this kind of attitude that got you in an argument with a "senior" yesterday? ..... Just a thought...
Seriously. Do you think I'm referring to you? should look into the context of my statement. friend

and probably you should look at the whole conversation before who do you think got who into argument don't ya? For that I recall you came in quite late and your direction was to kitchen for coffee, I dont think you will really spend time to go through the entire conversation will you?
Read the entire market, money is made on the main trend not the fluctuation
  • #379,912
  • May 30, 2014 6:16am May 30, 2014 6:16am
GBPUSD seems retracing from the lows: 1.6755, 1.6772 and 1.6782 can become next resistances. Just from basics.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh1.png Size: 33 KB
  • #379,913
  • May 30, 2014 6:17am May 30, 2014 6:17am
Quoting GlobalMacro
{quote} Go get 'em, Tiger
Good morning GM, I almost joined you on that long

But I have a few opens floating on other pairs right now and it's Friday...and I'm tired.
Ghost Rider - WWTBMD?
  • #379,914
  • May 30, 2014 6:21am May 30, 2014 6:21am
Quoting Kofmaster
{quote} Seriously. Do you think I'm referring to you? should look into the context of my statement. friend
No, I didn't. I thought you were referring to seniors just as you said. Having followed that conversation with a senior yesterday, you're still wrong. Friend
Ghost Rider - WWTBMD?
  • #379,915
  • May 30, 2014 6:28am May 30, 2014 6:28am
Quoting Fx_Anil
GBPUSD seems retracing from the lows: 1.6755, 1.6772 and 1.6782 can become next resistances. Just from basics. {image}
I have been patiently waiting for that (6780 actually) for a chance to short again.
Ghost Rider - WWTBMD?
  • #379,916
  • May 30, 2014 6:30am May 30, 2014 6:30am
Quoting albchr
{quote} No, I didn't. I thought you were referring to seniors just as you said. Having followed that conversation with a senior yesterday, you're still wrong. Friend
May I know whats wrong with me? Aww thread gonna flood with useless comment sry guys.

Let me summarize.

Senior: To me its tricky since FX is not centralized. Lets say your feed is coming from Oanda and volume is based on mostly retail activity from Oanda. However huge institutional orders are coming from Banks and Hedge funds and those move price and don't show up on your Oanda volume. To me its not reliable indicator

Me: There you go, alot of people who doesn't use volume to trade in FX have the same concerns. The volume used in retail broker is tick volume, and it has the same reliability as futures volume as a study has done on this.
*with the attachments*

And there you go...

Senior:

Hi Kofmaster
If its working for you by all means continue. If you can post live trades when you saw huge volume entered live and closed 20 in a row and show you were correct majority of times following volume then you may have valid argument.
To me its irrelevant since what pushes price is not number of orders but size.
Please don't try to sell me what you think.Show me your trades based on volume. Entry exits, number of trades profits losses.
I am tired of rhetorical arguments.Show me your goods in concrete examples on lives trades.
Regards


Perhaps you should enlighten me in this conversation who started the argument.

Because all I do is attach a document for him to see.
Attached File(s)
File Type: pdf fxvolume tick volume vs real volume study.pdf   552 KB | 289 downloads
Read the entire market, money is made on the main trend not the fluctuation
  • #379,917
  • May 30, 2014 6:35am May 30, 2014 6:35am
Quoting albchr
{quote} I have been patiently waiting for that (6780 actually) for a chance to short again.
Same here albchr!!!!
  • #379,918
  • May 30, 2014 6:42am May 30, 2014 6:42am
Quoting Kofmaster
{quote} May I know whats wrong with me? Aww thread gonna flood with useless comment sry guys. Let me summarize. Senior: To me its tricky since FX is not centralized. Lets say your feed is coming from Oanda and volume is based on mostly retail activity from Oanda. However huge institutional orders are coming from Banks and Hedge funds and those move price and don't show up on your Oanda volume. To me its not reliable indicator Me: There you go, alot of people who doesn't use volume to trade in FX have the same concerns. The volume used in retail...
In my opinion, that "don't try to sell me what you think" sounded very much as a metaforical way to say "convince". He also says that if it works for you, then continue. His point seems to be that just by attaching a pdf you're not going to convince him, but maybe you could do it if you can convince him if you show live, correct trades based on volume.

For me, for instance, I'm only able to use it (always together with other techniques) in very low time frames. Mostly 5m is the one I find most useful, as well as 1m and 15m. But I understand it's not useful for many people, just like many other tools. So there's no point trying to convince others and be right.
  • #379,919
  • May 30, 2014 6:51am May 30, 2014 6:51am
Quoting albchr
{quote} I have been patiently waiting for that (6780 actually) for a chance to short again.
I agree with both of you! 1.6780 seems the perfect level to short, since it was both a prior support, it's an overlapping level if you trace a couple of fibs, and it could be the top of the channel I showed before.
  • #379,920
  • May 30, 2014 6:52am May 30, 2014 6:52am
Quoting Carlicus
{quote} In my opinion, that "don't try to sell" sounded very much as a metaforical way to say "convince". He also says that if it works for you, then continue. His point seems to be that just by attaching a pdf you're not going to convince him, but maybe you could do it if you can convince him if you show live, correct trades based on volume. For me, for instance, I'm only able to use it (always together with other techniques) in very low time frames. Mostly 5m is the one I find most useful, as well as 1m and 15m. But I understand it's not useful...
He said I'm tired of rhetorical argument. That to begin with wasn't at all an argument. It was an act of kindness share information. And he go all rage and rabbies asking to show trades profit and loss and shit.

Just tell me I don't believe it. If its works for you then by all mean continue. FULL STOP.

Even By stander can't see things clearly.
Read the entire market, money is made on the main trend not the fluctuation
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