Cable Update (GBPUSD)

neal don't underestimate some unconventional methods. Way back @ Moneytec forums (like 10+ years ago now) there was a trader XT (XtremeTsunami).
He used gann methods to pinpoint exact turning points in GU both price/time. Was a very cool guy and a good trader also his levels were pretty snap on.

I don't underestimate or judge anyones methods. But holy cow, USDOLLAR, that much info would make my head spin. If it works for you, awesome!
Looks like the beginning of the sweeps!!!

it 's all about confluence nealpek. Just begins with some price action combine with for example fibonacci (extention) ,pivot points or gann and see where the magic comes together. Often those POC (point of confluence) (for example trendline intersection with fib 61.8 and pivot points ) are strong entry/exit points

Bring on the "pain"...

sure just when i lose my patience and kill my shorts the price drops like a brick

HA I know it may look like a lot, but every indicator is telling me a story, been using the same indicator for years, so I have a edge using them.... also the key is looking at all time frames , if you thought this was a lot you have not seen my non traditional method, your jaw would drop :nerd:

LI1979 I totally understand confluence. But, what truly drives markets has nothing to do with touching a 38 or 50 fib line. Every trader is offered these useless tools with their software. If they are giving it to you and all other traders for free to use, it must be a very valuable and reliable tool. That's why so many traders use them, sometimes they work and sometimes they don't. You need to get away from these reliable "tools" and understand how markets flow, and what drives them. If everyone uses them, how come the vast majority of traders are not successful? You must think outside the box, and realize if they are offering them to every trader, they surely must be useless. I used to trade with a myriad of tools, and wasn't successful. Its only when I realized this, that I started to look at alternatives, until I finally came to rely on the action and structure of the markets, for entries and exits. Once you find the confidence in this, you will never use another indicator. Just some horizontal lines serves me fine. In my opinion, true success as a trader cannot be derived from these "tools". I didn't need MA's or fibs or RSI to tell me we were heading south. The structure and action of the market gave its clues! Happy trading!!

Spot on!

just finished giving a massage and see we broke 42

#GBPUSD I have an eye on 1.4140 & 1.4120 for C

1.4155-50 becomes important for GBPUSD, clearing which it can quickly drop to 1.4050-40 area.

$GBPUSD keep an eye on that 1.4170 - 50% it may have found Sup

Last piece of advice for any of you who are not successful as traders and are struggling. Most of you use the "standard" forex platforms to trade with. There are only 3 things on a chart that are REAL: a printed candle, current price, and volume. I don't use the standard platforms because volume is not available. That's why I keep futures charts open, for the volume. It changes how your eyes see the market. When I trained my friend, who was using fxcm at the time, his eyes glowed when volume was introduced into the mix. Do yourselves a big favor, hook up with a broker that offers futures trading, put volume on your screen, and study that for a while. It's the only reliable "tool" that's real, that you will ever use. It makes all the difference. I promise not to "spew" again. Good luck to all...

Think of all the "pain, nervousness, and scrambling", going on right now!! We've all been there... This is how markets work, train your eyes to spot these things, and accounts will grow... Here we go, lots of real volume to show its a real move!!

volume is good but it's not great it's not a leading indicator, markets move and volumes grow, I see your point though that rallies/dips on thin volume will be sold/bought more likely into rather than moves with high volume. To filter out moves I guess volume could work. Still I think 4-6 stick formations on H4 TF with strong S/R levels plotted manually pretty much sufficient to make the account grow. All the pivots, market profiles etc etc are just a bonus on top of that, however if you lack basic grip with simple things like formations and S/R those other options won't help you improve.

you get very good signals on alternative TFs (H3/H6/H9) and the pattern I really love on GU is close replica of inside bar, not quite an inside bar, but works wonders also.

also regarding volume. you pretty much see it on the chart. )) tall candles high volume. avg candles low volume. perhaps volume can also help you spot reversals.

I'm trading stocks primarily, I don't see much aid personally in volume, but then again it's a person preference I guess.

I see that the price tends to the support level. Most likely it will rebound from it up.

same deal as above. nice pattern overall.

neal are you trading in stocks also or just purely FX?