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Cable Update (GBPUSD)

  • #429,861
  • Apr 28, 2016 5:25am Apr 28, 2016 5:25am
evening star is 3 candle, high probability
Attached Image
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #429,862
  • Apr 28, 2016 5:27am Apr 28, 2016 5:27am
Quoting Bones
evening star is 3 candle, high probability {image}
​How high probability is it?
  • #429,863
  • Apr 28, 2016 5:29am Apr 28, 2016 5:29am
Quoting redbaron1981
{quote} ​How high probability is it?
you cant put a number on probability in forex..., circumstances are subjective dependent on SL/TP timeframe etc etc

it can be used to increase the probability above lets say 50% that the trade is going to win rather than lose... couple with some other types of confluence and it increases it. nothing is a guarantee though
  • #429,864
  • Apr 28, 2016 5:32am Apr 28, 2016 5:32am
Quoting Don96
{quote} you cant put a number on probability in forex..., circumstances are subjective dependent on SL/TP timeframe etc etc it can be used to increase the probability above lets say 50% that the trade is going to win rather than lose... couple with some other types of confluence and it increases it. nothing is a guarantee though
I agree but if Bones has been trading these setups for a while surely he should have a historical idea of how high the probability is?
  • #429,865
  • Apr 28, 2016 5:35am Apr 28, 2016 5:35am
once its printed its a problem from then onwards
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1 aud USD (DFB).png Size: 37 KB
Click to Enlarge Name: 1 usd JPY (DFB).png Size: 28 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #429,866
  • Apr 28, 2016 5:36am Apr 28, 2016 5:36am
Quoting redbaron1981
{quote} I agree but if Bones has been trading these setups for a while surely he should have a historical idea of how high the probability is?
if you take a short on the open of the next candle, with stops above the high of the previous, its then dependent on your TP, if its 10 pips chances are higher than 100 for example. my point is each situation is different, I'm not sure Bones takes trades purely based on evening star patterns ​
  • #429,867
  • Apr 28, 2016 5:40am Apr 28, 2016 5:40am
no all common candles ,high probability is just that ,hammer is low ,dark cloud high ,evening star very high


Quoting Don96
{quote} if you take a short on the open of the next candle, with stops above the high of the previous, its then dependent on your TP, if its 10 pips chances are higher than 100 for example. my point is each situation is different, I'm not sure Bones takes trades purely based on evening star patterns ​
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #429,868
  • Apr 28, 2016 5:43am Apr 28, 2016 5:43am
Quoting Bones
no all common candles ,high probability is just that ,hammer is low ,dark cloud high ,evening star very high {quote}
you do take trades purely based on candles? if so then my bad :s
  • #429,869
  • Apr 28, 2016 5:49am Apr 28, 2016 5:49am
no ,but its the main focus ,I'm working on supply demand but way i see it thats an extension pivots I already use ,harmonic patterns i can't see ,but then i have Scott
tls are good with candles

Quoting Don96
{quote} you do take trades purely based on candles? if so then my bad :s
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #429,870
  • Apr 28, 2016 5:51am Apr 28, 2016 5:51am
Quoting Bones
no ,but its the main focus ,I'm working on supply demand but way i see it thats an extension pivots I already use ,harmonic patterns i can't see ,but then i have Scott tls are good with candles {quote}
yeah so you use them with confluence of other things..? my answer to redbarons question was its subjective and you probably cant put a number to it. at least not one that everyone can use
  • #429,871
  • Apr 28, 2016 6:01am Apr 28, 2016 6:01am
dark cloud I think will be a problem ,like the evening stars ,but nzd you can see has been well supported on sell offs
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Click to Enlarge Name: USD (DFB).png Size: 34 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #429,872
  • Apr 28, 2016 6:32am Apr 28, 2016 6:32am
I think it could be a sell

to 69 at least
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Click to Enlarge Name: NZDUSDH4.png Size: 32 KB
Come with me if you want to live....
  • #429,873
  • Apr 28, 2016 6:32am Apr 28, 2016 6:32am
going long 4548
  • #429,874
  • Apr 28, 2016 6:45am Apr 28, 2016 6:45am
Hello everyone,

here is an excerpt of a marketing email I received today from "best selling author" Michael Covel. (I actually have one of his books).

"Do NOT Buy Gold Until You See This Message"

Dear Reader,

I recently had a call with my friend and legendary investor Jim Rogers.

He told me he expects a complete collapse of our monetary system.

If he’s right, buying and holding gold bars and coins might be a good way to hedge your portfolio.

But there’s an even better way to potentially profit from a big move in gold.

Now, the technique you’re about to discover is a little controversial…"

I wish I could show him my Gold chart right now

The point is be careful taking advice from anyone, me and others here included, do your own due diligence

It is the only way confidence is built.

Best wishes
Be careful what you think because your thoughts run your life..Solomon
  • #429,875
  • Apr 28, 2016 6:48am Apr 28, 2016 6:48am
Quoting PatienceFx
going long 4548
the h4 strike up then down was to piss off the bears
  • #429,876
  • Apr 28, 2016 6:50am Apr 28, 2016 6:50am
Quoting Akt
Hello everyone, here is an excerpt of a marketing email I received today from "best selling author" Michael Covel. (I actually have one of his books). "Do NOT Buy Gold Until You See This Message" Dear Reader, I recently had a call with my friend and legendary investor Jim Rogers. He told me he expects a complete collapse of our monetary system. If hes right, buying and holding gold bars and coins might be a good way to hedge your portfolio. But theres an even better way to potentially profit from a big move in gold. Now, the technique youre about...
The problem with this however is that people come here in need and will take any advice given in they feel it will improve their trading or help with their system creation - what they dont realise but usually do in time is that there is no one here CAPS ON - NO ONE here who is either credible or savy enough with their trading skills to offer advice - now people will say hey your so wrong on this - however when time does the telling the facts will always speak for themselves..

Reminds me of the guy the other week who says he can predict the market as its possible - sherlock holmes he is not ..
Theres another trader on here who in the real world quotes the words Investment Management ??

Would not listen to anyone around here just trade your own stuff .. but the process of success requires that people will seek adivce .. but from around here - well thats up to the other person i guess ..
  • #429,877
  • Apr 28, 2016 6:52am Apr 28, 2016 6:52am
Quoting PatienceFx
{quote} the h4 strike up then down was to piss off the bears
i might change my view point on the next h4 candle in 70 min , till then have fun pissing off the bears

Attached Image
  • #429,878
  • Apr 28, 2016 7:00am Apr 28, 2016 7:00am
Quoting dean1star
{quote} The problem with this however is that people come here in need and will take any advice given in they feel it will improve their trading or help with their system creation - what they dont realise but usually do in time is that there is no one here CAPS ON - NO ONE here who is either credible or savy enough with their trading skills to offer advice - now people will say hey your so wrong on this - however when time does the telling the facts will always speak for themselves.. Reminds me of the guy the other week who says he can...
Hello dean1star, good to meet you.
I understand what you are saying and why you are saying it. Totally get it.

However, I know successful traders who come on forums purely for the fun of it. Mostly in the shadows, but sometimes they pipe up and engage in a conversation.
Trading can be lonely especially if there is no-one in your immediate circle who is into it.

best wishes
Be careful what you think because your thoughts run your life..Solomon
  • #429,879
  • Apr 28, 2016 7:05am Apr 28, 2016 7:05am
Quoting PatienceFx
{quote} i might change my view point on the next h4 candle in 70 min , till then have fun pissing off the bears {image}
cable pissing off bears wholesale [ valid till next h4 candle in 55 min ]
  • #429,880
  • Apr 28, 2016 7:06am Apr 28, 2016 7:06am
Quoting Akt
{quote} However, I know successful traders who come on forums purely for the fun of it.
BINGO +1 :-)
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