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Cable Update (GBPUSD)

  • #379,921
  • May 30, 2014 7:01am May 30, 2014 7:01am
Quoting Carlicus
{quote} 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.
A nice overlapping zone seems to be 1.68, previously was also a support
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  • #379,922
  • May 30, 2014 7:03am May 30, 2014 7:03am
Quoting Kofmaster
{quote} May I know whats wrong with me? ...... ..Senior: To me its tricky since FX is not centralized. Me: There you go, alot of people who doesn't use volume to trade in FX have the same concerns. 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. ..... Please don't try to sell...

This quote above will probably get cut so I tried to truncate it. First, I never said anything was "wrong with you" and I'm NOT going there with this. Second I was referring to your rather "broad" statement in here today about all seniors. THAT, I felt was wrong, not nice and a poor attitude.

But anywho.... He was simply stating that to HIM, it was tricky. The red "And there you go" above was most likely the start of it. Sounded a touch arrogant to me at the time anyway. Then he replied (paraphrased here) hey if it's working for you great but can you show me concrete proof of your trades over time that proved volume as a solid, reliable and profitable system. Did you?

Because without it, I can understand his comment on "rhetorical arguments". We see WAY too many of them in here. He will and does routinely and gladly show his trades, in real time, ahead of time, live from start to finish with the results. Not rhetorical at all IMHO.

But more importantly than all that shhhh......stuff is.....

What I don't get is, for folks who take tick volume so seriously, why not trade tick charts? I mean, as Carlicus and I talked about, I don't take tick volume "all that seriously" but still, I find it has value and reflects true price action more accurately than charts based on time. As such, although just starting with them, I do trade tick charts. A small example (sorry folks it's EU & not GU here )

1M top, and 233 tick bottom charts. As you can see, based on "ticks", the SR lines you see here are exactly the same on both charts. Which one, based on tick volume do you find more accurate? I was able to pull a few pips off this setup yesterday when EU was barely moving.

So my apologies but when you said "seniors", I as one, took it a tad personal. You should be more careful.
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Ghost Rider - WWTBMD?
  • #379,923
  • May 30, 2014 7:05am May 30, 2014 7:05am
Quoting Fx_Anil
{quote} Same here albchr!!!!
Yeah... sure hope she gets there this century...LOL
Ghost Rider - WWTBMD?
  • #379,924
  • May 30, 2014 7:05am May 30, 2014 7:05am
Quoting Carlicus
{quote} 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.
... and Good morning Carlicus.
Ghost Rider - WWTBMD?
  • #379,925
  • May 30, 2014 7:14am May 30, 2014 7:14am
Quoting albchr
{quote} This quote above will probably get cut so I tried to truncate it. First, I never said anything was "wrong with you" and I'm NOT going there with this. Second I was referring to your rather "broad" statement in here today about all seniors. THAT, I felt was wrong, not nice and a poor attitude. But anywho.... He was simply stating that to HIM, it was tricky. The red "And there you go" above was most likely the start of it. Sounded a touch arrogant to me at the time anyway. Then he replied (paraphrased here) hey if it's working for you great...
Good morning to you too

Holy cow! I don't know how the hell to get tick charts like that! What's the trick man? Mine starts on 1m, and I'm extremely interested in getting a tick chart like yours! Could you enlighten me Chris?
  • #379,926
  • May 30, 2014 7:21am May 30, 2014 7:21am
Quoting Carlicus
{quote} Good morning to you too Holy cow! I don't know how the hell to get tick charts like that! What's the trick man? Mine starts on 1m, and I'm extremely interested in getting a tick chart like yours! Could you enlighten me Chris?
I would be most happy to my friend.

It's a tad tedious for the MT4 platform and takes two indicators and some slightly lengthy instruction. Should we proceed in here or in my humble corner? I don't wish to upset other members here.
Ghost Rider - WWTBMD?
  • #379,927
  • May 30, 2014 7:29am May 30, 2014 7:29am
Quoting Kofmaster
{quote} Wanna learn few things from position trader. May I know where is your sl / mental sl ?
Hmmm...I know what you're up to, you're a market maker and wanna run a position trader's stops, isn't that right? ... Huh Uh...
Hear the music before the song is over ...
  • #379,928
  • May 30, 2014 7:34am May 30, 2014 7:34am
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

not still in usd cad are you?? said re forming double bottom.. people going to try in 80 levels re fractals but people shorting the head and shoulders pattern now.... would prefer the 10924 level though for extra protection for lower swing low as discussed earlier

Still awaiting this euro to reach 167.67!!! can see it potentially only getting too 1.6670 today now and not the swing break.... as I expect NFP to start around 1.6618.. swing up 1.6686 then fall 100 pips.... so can see Monday and Tuesday carving out nothing and 50 - 60 pip moves other days
  • #379,929
  • May 30, 2014 7:35am May 30, 2014 7:35am
@ GM... Nothing gets by you does it brother? .....
Ghost Rider - WWTBMD?
  • #379,930
  • May 30, 2014 7:37am May 30, 2014 7:37am
Quoting albchr
{quote} 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.
Morning Chris, probably a good idea....I'm gonna stay in it over the w/e...
Hear the music before the song is over ...
  • #379,931
  • May 30, 2014 7:44am May 30, 2014 7:44am
Quoting albchr
@ GM... Nothing gets by you does it brother? .....
No, Sir!
Hear the music before the song is over ...
  • #379,932
  • May 30, 2014 7:45am May 30, 2014 7:45am
Quoting GlobalMacro
{quote} Morning Chris, probably a good idea....I'm gonna stay in it over the w/e...
Yeah I figure we'll see what goes down (no pun intended) next week.
Ghost Rider - WWTBMD?
  • #379,933
  • May 30, 2014 7:45am May 30, 2014 7:45am
Quoting albchr
{quote} I have been patiently waiting for that (6780 actually) for a chance to short again.
Probably wont bust 1.6773... and people be going short starting at 1.6767/69... may touch R2 at 70 .. fib convergence 61.8 is at 1.6766 and then other 61.8 = 1.6769 then above that is the 78.6 at 1.6774.... dont see it getting past that cluster...see it failing at first or middle fib convergence, but watch you don't miss it trying to be too perfect.. I hate it when I miss trying to be too perfect
  • #379,934
  • May 30, 2014 7:47am May 30, 2014 7:47am
Quoting GlobalMacro
{quote} No, Sir!
... lol
Ghost Rider - WWTBMD?
  • #379,935
  • May 30, 2014 7:49am May 30, 2014 7:49am
Quoting RussJ
{quote} Probably wont bust 1.6773... and people be going short starting at 1.6767/69... may touch R2 at 70 .. fib convergence 61.8 is at 1.6766 and then other 61.8 = 1.6769 then above that is the 78.6 at 1.6774.... dont see it getting past that cluster...see it failing at first or middle fib convergence, but watch you don't miss it trying to be too perfect.. I hate it when I miss trying to be too perfect
Take it easy.. 70-80 price zone, not single 00
  • #379,936
  • May 30, 2014 7:50am May 30, 2014 7:50am
Quoting RussJ
{quote} Probably wont bust 1.6773... and people be going short starting at 1.6767/69... may touch R2 at 70 .. fib convergence 61.8 is at 1.6766 and then other 61.8 = 1.6769 then above that is the 78.6 at 1.6774.... dont see it getting past that cluster...see it failing at first or middle fib convergence, but watch you don't miss it trying to be too perfect.. I hate it when I miss trying to be too perfect
Understood and agree with you Russ. As you can see, I watch PA pretty close and on really low TF's at times. I believe she can make it but won't miss out if it doesn't because the next stop is way there if and when she goes.
Ghost Rider - WWTBMD?
  • #379,937
  • May 30, 2014 7:52am May 30, 2014 7:52am
I said senior btw. You should probably look back to my post. And I dont have the time to edit such a stuff.
Read the entire market, money is made on the main trend not the fluctuation
  • #379,938
  • May 30, 2014 7:56am May 30, 2014 7:56am
Quoting GlobalMacro
{quote} Hmmm...I know what you're up to, you're a market maker and wanna run a position trader's stops, isn't that right? ... Huh Uh...
I have to clear floating supply and profits taker to have more smooth ride don't ya think so
Read the entire market, money is made on the main trend not the fluctuation
  • #379,939
  • May 30, 2014 7:58am May 30, 2014 7:58am
Quoting albchr
{quote} Understood and agree with you Russ. As you can see, I watch PA pretty close and on really low TF's at times. I believe she can make it but won't miss out if it doesn't because the next stop is way there if and when she goes.
agree.... and the banks and the big boys know we are waiting..they just want us to go out on the slosh and leave it and miss it lol!!!

May have to put a limit in myself as its time to go for some late night dinner.. just wish it would hurry and move up there
  • #379,940
  • May 30, 2014 8:19am May 30, 2014 8:19am
Quoting Kofmaster
{quote} I have to clear floating supply and profits taker to have more smooth ride don't ya think so
As long as you only clear floating supply but in this case
leave floating demand alone, is fine by me...more power to you.
Hear the music before the song is over ...
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