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Cable Update (GBPUSD)

  • #439,201
  • Sep 7, 2016 2:11am Sep 7, 2016 2:11am
Quoting Sammih
{quote} seems plausible {image}
sorry, this is what I meant, possible shorting area
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH4 meant.png Size: 55 KB
I'm high on trading, cant you tell?
  • #439,202
  • Sep 7, 2016 2:15am Sep 7, 2016 2:15am
Quoting HaLBot
{quote} Market profile lets you see where buyers and sellers want to do business and as Adam at my brokers tells me it gives you the understanding that trading forex can be likened to an auction.... To me Cable looks a bit top heavy and due for some pullback but if we get a good print of manufacturing and Industrial production expect Cable to go beyond 3480....IMHo
Interesting view, I have a book on the subject on my shelf but never got around to reading it, maybe i'll try it sometime.

I agree, some move south before any more north move. Although as it sometimes happens, if there is a north move, it'll be quite significant, like 200 pips or so(breaking out of a bullish channel).
I'm high on trading, cant you tell?
  • #439,203
  • Sep 7, 2016 2:23am Sep 7, 2016 2:23am
Quoting Sammih
{quote} sorry, this is what I meant, possible shorting area {image}
Can u please tell me how to draw Trenlinde ???
  • #439,204
  • Sep 7, 2016 2:34am Sep 7, 2016 2:34am
Quoting Sammih
{quote} seems plausible {image}
thank you sammih, i have short on GU and some worried about that because its full marjin and if the rate go on 3370 my orders will be zero
because of that i ask you.

thank you
  • #439,205
  • Sep 7, 2016 2:35am Sep 7, 2016 2:35am
Quoting SadiaQureshi
{quote} Can u please tell me how to draw Trenlinde ???
Have a look here... http://www.forexfactory.com/showthread.php?t=28414
Onwards and upwards...
  • #439,206
  • Sep 7, 2016 2:38am Sep 7, 2016 2:38am
Quoting SadiaQureshi
{quote} Can u please tell me how to draw Trenlinde ???
on mt4, pick two or more highs on your chart and draw a trendline, the more price tests and respects that trendline the stronger it gets.
Double click that trendline. Three points will appear on your trendline.(as in pic below)
Press and hold ctrl on your keyboard and drag that line to the other end of the move to create a channel
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSDH4123.png Size: 62 KB
Click to Enlarge Name: GBPUSDH41235.png Size: 67 KB
I'm high on trading, cant you tell?
  • #439,207
  • Sep 7, 2016 2:41am Sep 7, 2016 2:41am
Quoting SadiaQureshi
{quote} Can u please tell me how to draw Trenlinde ???
CALL ME i tell you how to draw trendline,,,,,
  • #439,208
  • Sep 7, 2016 2:42am Sep 7, 2016 2:42am
Attached Image (click to enlarge)
Click to Enlarge Name: photo_2016-09-06_20-55-44.jpg Size: 114 KB
  • #439,209
  • Sep 7, 2016 2:42am Sep 7, 2016 2:42am
Quoting Wdfx
{quote} Thanks Lock, I am looking for a pull back below 3400 before going long. Lets see if it can break the 3410 level first.
Well done: Gb tested below Tokyo low (overnight low), then went down to test also 3400. It found nothing and retraced back inside balance. Let's see if this is enough for GB.
Ubi maior minor cessat
  • #439,210
  • Sep 7, 2016 2:42am Sep 7, 2016 2:42am
Quoting SadiaQureshi
{quote} Can u please tell me how to draw Trenlinde ???
its true
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd_56.PNG Size: 35 KB
  • #439,211
  • Sep 7, 2016 2:44am Sep 7, 2016 2:44am
Quoting hamidabdiyan
{quote} thank you sammih, i have short on GU and some worried about that because its full marjin and if the rate go on 3370 my orders will be zero because of that i ask you. thank you
I assume you meant 3470. What is your entry level? At the moment, don't fret yet, but you should be worried if price goes to 3450. Make sure to take profits quickly on this one, you are trading against the trend. Good luck
I'm high on trading, cant you tell?
  • #439,212
  • Sep 7, 2016 2:44am Sep 7, 2016 2:44am
Quoting Sammih
{quote} Interesting view, I have a book on the subject on my shelf but never got around to reading it, maybe i'll try it sometime. I agree, some move south before any more north move. Although as it sometimes happens, if there is a north move, it'll be quite significant, like 200 pips or so(breaking out of a bullish channel).

So here is a snapshot of my MT4 platform using Market Profile indicators and you can see the horizontal blue lines to the right are where sellers and buyers are grouped and want to do business....So where the lines are the longest is where you expect the action to take place...
The 20 ema is clearly in view and you can just see the 50ema as well
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.jpeg Size: 1.4 MB
Don't Leave Money on the Table
  • #439,213
  • Sep 7, 2016 2:47am Sep 7, 2016 2:47am
divergence ?
not euphoria follower
  • #439,214
  • Sep 7, 2016 2:51am Sep 7, 2016 2:51am
Quoting hamidabdiyan
{quote} its true {image}
my opinion
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd_56new.jpg Size: 106 KB
I'm high on trading, cant you tell?
  • #439,215
  • Sep 7, 2016 2:54am Sep 7, 2016 2:54am
Quoting Lock
{quote} Well done: Gb tested below Tokyo low (overnight low), then went down to test also 3400. It found nothing and retraced back inside balance. Let's see if this is enough for GB.
Thanks - Scalped a few pips on the way back up and closed... every little bit helps cover my stop, just about to retest may do it again.
Striving for consistency
  • #439,216
  • Sep 7, 2016 2:56am Sep 7, 2016 2:56am
Quoting HaLBot
{quote} So here is a snapshot of my MT4 platform using Market Profile indicators and you can see the horizontal blue lines to the right are where sellers and buyers are grouped and want to do business....So where the lines are the longest is where you expect the action to take place... The 20 ema is clearly in view and you can just see the 50ema as well {image}
do i want to place my trades where most people want to do business or where little people want to do business. I'd love to know more on the subject.
I'm high on trading, cant you tell?
  • #439,217
  • Sep 7, 2016 3:03am Sep 7, 2016 3:03am
Quoting HaLBot
{quote} So here is a snapshot of my MT4 platform using Market Profile indicators and you can see the horizontal blue lines to the right are where sellers and buyers are grouped and want to do business....So where the lines are the longest is where you expect the action to take place... The 20 ema is clearly in view and you can just see the 50ema as well {image}
Good morning Halbot. May I ask where you got the Market profile indicator?
Striving for consistency
  • #439,218
  • Sep 7, 2016 3:05am Sep 7, 2016 3:05am
Quoting Wdfx
{quote} Thanks - Scalped a few pips on the way back up and closed... every little bit helps cover my stop, just about to retest may do it again.
The balance game rule is this: test below balance, fails, then back to the opposite side of that balance: there you close if you like. Now B period is inside A period, so it could breake from here.
Ubi maior minor cessat
  • #439,219
  • Sep 7, 2016 3:07am Sep 7, 2016 3:07am
Quoting Sammih
{quote} do i want to place my trades where most people want to do business or where little people want to do business. I'd love to know more on the subject.
Here is another shot of the 30 minute chart over a couple of days to get a better idea...

If you know where buyers and sellers are grouped and want to do business then it makes it easier to put on trades...it's a 24/5 auction house

That's all I'm saying at this point because it's the limit of my understanding and I don't want to pass on misinformation...

So if you look bac to previous market profile you can see it was an area that sellers then tried to regain the market and push it back down without success and that is where price is right now....
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.jpeg Size: 1.5 MB
Don't Leave Money on the Table
  • #439,220
  • Sep 7, 2016 3:16am Sep 7, 2016 3:16am
Quoting Lock
{quote} The balance game rule is this: test below balance, fails, then back to the opposite side of that balance: there you close if you like. Now B period is inside A period, so it could breake from here.
I presume the other side of the balance is around 3424? Also do you take your initial market opening from midnight GMT of from the close of the US session at around 9:30pm GMT?
Striving for consistency
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