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Cable Update (GBPUSD)

  • #385,721
  • Jul 6, 2014 6:45am Jul 6, 2014 6:45am
Quoting albchr
{quote} I guess that would depend on what you consider a normal weekly stick for Cable. A quick look at a cleaner chart here and you can see much smaller and much larger ones. So I guess in that light I'd have to say....average or....normal? While I do find candles to be useful visually, I'm more concerned with levels, confluence and the ratios of price moves myself. All the bread crumbs here seem to support a decent correction at least from this level. {image} {quote} Never used a stoch myself. (played with it once) but by and large, I'm not...
to be honest i work with quarter candle... and now she is in 1.618 ext of prev Q1 candle ( high low of jan - april candle ) . any falsebreak on any higher level will be good .

Just for personal purpose and IMHO only
not euphoria follower
  • #385,722
  • Jul 6, 2014 6:54am Jul 6, 2014 6:54am
Quoting albchr
{quote} I guess that would depend on what you consider a normal weekly stick for Cable. A quick look at a cleaner chart here and you can see much smaller and much larger ones. So I guess in that light I'd have to say....average or....normal? While I do find candles to be useful visually, I'm more concerned with levels, confluence and the ratios of price moves myself. All the bread crumbs here seem to support a decent correction at least from this level. Still waiting on the 6930/00 level to evaluate just a correction or further down. No question...
I think Monday will go UP Tuesday News will be RED, BIG DOWN
Attached Image (click to enlarge)
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A good trader follows his rules, but great trader knows when to break them
  • #385,723
  • Jul 6, 2014 7:13am Jul 6, 2014 7:13am
Quoting iqyu5an
{quote} to be honest i work with quarter candle... and now she is in 1.618 ext of prev Q1 candle ( high low of jan - april candle ) . any falsebreak on any higher level will be good . Just for personal purpose and IMHO only
I agree. I look at quarterly and half year sticks as well. But still, SR/SD, PA structure (smaller TF's), ratios and order flow are the things I try to pay attention to the most. Also, just a personal preference for me. A false break would perfect!
Ghost Rider - WWTBMD?
  • #385,724
  • Jul 6, 2014 7:18am Jul 6, 2014 7:18am
Quoting ill_be_back
{quote} I think Monday will go UP Tuesday News will be RED, BIG DOWN {image}
One can only wait and see what the noise will be. Since it is my basic premise that data prints are only the catalyst for where PA is already pointing, whatever it may be I'll hold my retrace view for now. But as in my first post here this morning, I fully expect the possibility of a move up before down so, I can see your view about Monday brother. A chance to build even better shorts?
Ghost Rider - WWTBMD?
  • #385,725
  • Jul 6, 2014 7:33am Jul 6, 2014 7:33am
Quoting albchr
{quote} One can only wait and see what the noise will be. Since it is my basic premise that data prints are only the catalyst for where PA is already pointing, whatever it may be I'll hold my retrace view for now. But as in my first post here this morning, I fully expect the possibility of a move up before down so, I can see your view about Monday brother. A chance to build even better shorts?
I have seen your post in "00 " level trading but did not follow it up later.

It seems to be a good system though not complete.

With the kind of experience we have, it is easy to make some bucks every day and you will be amazed to see how a small capital grows over a period of 1 year.
Intraday only.
  • #385,726
  • Jul 6, 2014 8:05am Jul 6, 2014 8:05am
Quoting navk
{quote} I have seen your post in "00 " level trading but did not follow it up later. It seems to be a good system though not complete. With the kind of experience we have, it is easy to make some bucks every day and you will be amazed to see how a small capital grows over a period of 1 year.
I think I only made one post there simply thanking Udine for sharing.

I don't use or follow that system. But from what I've seen it's pretty simple and straight forward if you have the right setup for spread and what not. 10 pip gains with the broker I have just wouldn't be a prudent approach for me. Even on EU where the spread normally averages about 1.5 to 2.5 pips. It still fluctuates and on a fractional level at that.

Not really my cup of coffee.
Ghost Rider - WWTBMD?
  • #385,727
  • Jul 6, 2014 8:29am Jul 6, 2014 8:29am
Quoting Davit
{quote} EU fundamentally is in downtrend.Likelihood of EU reaching 1.34 is greater then 1.38 this month. ECB made it clear they want lower Euro. When forecasting please read some fundamentals and get a sense of market sentiment.

Hi Davit..

I have been reading ur analysis and view on this forum for quite long. I must say that i m really impressed the way you do ur analysis although u r stuck in GU badly..... today i gave up n decided to login n thought of talking to u as I am sailing in the same boat.... may be half sinking ship n trying to survive out this GU dangerously looking bullish and sending me deep water inside.... I have my shorts build up from 163 upto 166 .... need ur advice

For sure I know GU will have retracement to atleast 16950 ... but further falling will depend upon the US data and Rate hike from carney ,,,,

Actually point is I am looking for 167 levels to book my heavy loss and want to come out n play fresh .... I missed the train when GU came last to 167 thinking this shit will fall further to 1645 atleast ..bcz the way EU was falling ... Ay advice what should be my action from here on... because m confused that to which level it will go up 172 or 172 n then fall to 1695 or may b 167...

Thanks
  • #385,728
  • Jul 6, 2014 8:42am Jul 6, 2014 8:42am
Quoting albchr
{quote} I think I only made one post there simply thanking Udine for sharing. I don't use or follow that system. But from what I've seen it's pretty simple and straight forward if you have the right setup for spread and what not. 10 pip gains with the broker I have just wouldn't be a prudent approach for me. Even on EU where the spread normally averages about 1.5 to 2.5 pips. It still fluctuates and on a fractional level at that. Not really my cup of coffee.

ECN kind of a/c should be fine.

UDINE has regulated the traders in fact in that thread.

He controlled emotions by allowing traders to trade 2 trades per day + 1 trade as bonus.

I do not know whether you have seen that account growth chart with a small capital and with 2 to 3 trades per day with fixed pips profit for each day.

His system will suit daily traders.

If you follow rules with some additional indicators what we use ( ), the results will be amazing.
Intraday only.
  • #385,729
  • Jul 6, 2014 8:43am Jul 6, 2014 8:43am
Quoting Davit
{quote} Agree {image}
Well I certainly hope it will, I am short on Cable
  • #385,730
  • Jul 6, 2014 8:46am Jul 6, 2014 8:46am
Cable looking angry.

Consolidation, before move down or up?

Watching Tues news for direction.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gbpusdh41.png Size: 23 KB
Come with me if you want to live....
  • #385,731
  • Jul 6, 2014 9:08am Jul 6, 2014 9:08am
Quoting ill_be_back
{quote} I think Monday will go UP Tuesday News will be RED, BIG DOWN {image}
You think? Astro say otherwise.. (Well i mostly wrong)
Don't blame the tools. Blame the carpenter.
  • #385,732
  • Jul 6, 2014 9:15am Jul 6, 2014 9:15am
Quoting navk
{quote} ECN kind of a/c should be fine. UDINE has regulated the traders in fact in that thread. He controlled emotions by allowing traders to trade 2 trades per day + 1 trade as bonus. I do not know whether you have seen that account growth chart with a small capital and with 2 to 3 trades per day with fixed pips profit for each day. His system will suit daily traders. If you follow rules with some additional indicators what we use ( ), the results will be amazing.
Well actually, I am now considering a different broker and feed. Unfortunately, choices of "good" ones are limited here in the states. I've had this same account since I started in 2009. Never had any issues with it until lately. Apparently they've switched the MT4 to a plug in and during things like NFP, I get a total platform freeze. It's happened twice now and I'm not happy to say the least.

So I now have to investigate a better option. ECN is what I would like. Not really in a position to pay for any feeds or platforms though. I don't question Udine's system at all. It's just worlds apart from I'm used to and feel comfortable with. That doesn't mean I couldn't learn it and probably pretty quickly. I just have too many irons in the fire of life to consider it at this time.
Ghost Rider - WWTBMD?
  • #385,733
  • Edited 9:49am Jul 6, 2014 9:34am | Edited 9:49am
Quoting KecoaKecil
{quote} You think? Astro say otherwise.. (Well i mostly wrong)
Lets see what happens on Tuesday

Edit: Hey just went to ur profile & saw your Trade Explorer, You might want to consider getting rid of your Astro (Just a suggestion)
A good trader follows his rules, but great trader knows when to break them
  • #385,734
  • Jul 6, 2014 12:14pm Jul 6, 2014 12:14pm
Quoting ill_be_back
{quote} Lets see what happens on Tuesday Edit: Hey just went to ur profile & saw your Trade Explorer, You might want to consider getting rid of your Astro (Just a suggestion)
considering it. thanxs
Don't blame the tools. Blame the carpenter.
  • #385,735
  • Jul 6, 2014 12:24pm Jul 6, 2014 12:24pm
If we see the weekly chart by setting default bollinger bands indicator then we can see the clear image of the next week forecast?????
U R O M
  • #385,736
  • Jul 6, 2014 1:53pm Jul 6, 2014 1:53pm
There is a basic "holy grail rule" that i always follow

if a bearish pattern has been formed and the price closes under sma64, the pair will face heavy losses in the mid term horizon...

It is 7th of July 2014... At hte end of this month, IMO we will see a big red candle

but lets see

Venceremos
Attached Image (click to enlarge)
Click to Enlarge Name: zf9F7GZ.png Size: 44 KB
The good thing with the future is that it is progressively approaching...
  • #385,737
  • Jul 6, 2014 2:12pm Jul 6, 2014 2:12pm
Quoting Davit
{quote} Agree {image}
If this is real account, You must have a good amount in account because I believe fight against trend...4 me..not make sense.
But it is my humble opinion.
I told my friend that S&P is gonna go UP on Tuesday, he sold..= he lost..trend was UP..same for me still GU is UP...so lets wait for confirmation.

I honestly do not like GU..rather EU or DAX or DOW Jones or S&P

it is just my opinion
  • #385,738
  • Jul 6, 2014 2:12pm Jul 6, 2014 2:12pm
Quoting spinozagr
There is a basic "holy grail rule" that i always follow if a bearish pattern has been formed and the price closes under sma64, the pair will face heavy losses in the mid term horizon... It is 7th of July 2014... At hte end of this month, IMO we will see a big red candle but lets see Venceremos {image}
and this?
Attached Image (click to enlarge)
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  • #385,739
  • Jul 6, 2014 2:19pm Jul 6, 2014 2:19pm
Quoting reclude82
{quote} and this? {image}
different approach...looks logical but cant comment on it... i can only tell you what i see in my charts

Whats your sentiment by the way? or you are the author of this graph?
The good thing with the future is that it is progressively approaching...
  • #385,740
  • Jul 6, 2014 2:26pm Jul 6, 2014 2:26pm
Quoting spinozagr
There is a basic "holy grail rule" that i always follow if a bearish pattern has been formed and the price closes under sma64, the pair will face heavy losses in the mid term horizon... It is 7th of July 2014... At hte end of this month, IMO we will see a big red candle but lets see Venceremos {image}
What bearish pattern are you referring to?
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