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Cable Update (GBPUSD)

  • #439,481
  • Sep 9, 2016 4:20am Sep 9, 2016 4:20am
Quoting Lock
{quote} Well, I can make a live example for you: let's say you sold at the opening, considering the GB gap down as a good structural event. Now your stops should be place right above that structural level (the top of the GB session, right inside the gap down.) Ok? Right. Now price moved down and make a lot of little things but, eventually, do not went up to take out your stops, correct? All the other period tops are weak, so you cannot move your stops above them. So do you stay in or not? Well, you have to monitor for continuation in the direction...
Thanks for the advice Lock... perhaps I should be focusing on another pair or i'll just go play golf, are we ever going to make money out of this market.
Striving for consistency
  • #439,482
  • Sep 9, 2016 4:21am Sep 9, 2016 4:21am
Quoting soultrader
{quote} Makes no difference anyway, I just trade the 'now' no patterns, no fibs, no bollocks predictions. just see the flow of water and join in.
70 pips a day would do me
Striving for consistency
  • #439,483
  • Sep 9, 2016 4:26am Sep 9, 2016 4:26am
Quoting Wdfx
{quote} I'll do it if you explain more, are you talking about the spike to 3309 and the low for the day of 3286 which is 23 pips?
Yes but only a plan please trade your own trade thanks regards E
  • #439,484
  • Sep 9, 2016 4:26am Sep 9, 2016 4:26am
Quoting soultrader
{quote} I must've missed that in the last 12 years then..... you really think that institutional traders in london sit there till 6pm? you'd walk into an empty room.

I'm sorry, there is a misunderstanding here. This is not the way I'm using these references. Because this is not the way traders use them. If there is a social convention that consider London close at 18:00 +1 GMT this does not mean that institutional traders are working at that time. At the opposite it means that this level is considered by weaker hands as an important one. And this is exactly the reason why, when I see price tagging exactly such a reference I know for sure a bounce from there is not a strong one. So from this came the importance of refernces like that: they are normally used by weak hands as reversal levels but at the same time they may be a very usefull information for bigger timeframes in order to know who is ruling the market ina particular moment of time. If they see a weakness somewhere they could infact decide to act right against it. Especially if they find a lot of weak reference in a row.
Ubi maior minor cessat
  • #439,485
  • Sep 9, 2016 4:26am Sep 9, 2016 4:26am
Quoting Lock
{quote} Listen, maybe I'm not clear and I'm sorry for that. Let's say it in an other way: I'm not saying no one is operating during a pit session when we have an holiday in US. I'm saying that US traders (the bigger ones) are not fully performing during that time, so the GB operators cannot have any idea about their conviction in this particular situation because they cannot see them act as normal. Weak hands is not an absolut term, is only definition given to a relative situation. Relative means that there is an entity "the partecipation" that...
Yeah I agree with that lost in translation somewhere I think
  • #439,486
  • Sep 9, 2016 4:29am Sep 9, 2016 4:29am
Quoting Wdfx
{quote} Your probably right again... I've heard that before, just forgotten... As I have said many times before my problem is my entry point.
Entry for me is defined by stops, the levels I post have exact stops to which I know the trade is wrong for me if it hits them... sometimes I am just greedy and use stops too small, like 6 pips at 1.2871 :/
  • #439,487
  • Sep 9, 2016 4:33am Sep 9, 2016 4:33am
I'm just dipping my toes in the water again WDFX. Back in 2005 I was trading around 17mil for clients and my own money too. start of the credit crunch hit me and by 2009 I was out. I needed to get out before forex killed me - I went into the radio business until i got voice cancer which took me out of that.

Since then I made a mint selling t-shirts of all things - sold $4million worth in the last two years and it now provides me with a semi-passive income.

I'm kinda semi retired now i guess and just got the 'urge' to trade again.

I'm not pulling any trees up but I am feeling the market - it's a different beast since 8 years ago what with harmonic trading algo's ruling the day etc. I'm quite happy trading off a fluid chart that ranges from 1 min upwards.

Nothing showing it's face today - I did take a short on EU this morning and took 11 pips but that's it so far. I'd like to be looking for longs around 3250 if it ever gets therte
https://linktr.ee/Soultrader
  • #439,488
  • Sep 9, 2016 4:34am Sep 9, 2016 4:34am
Quoting Wdfx
{quote} Thanks for the advice Lock... perhaps I should be focusing on another pair or i'll just go play golf, are we ever going to make money out of this market.

Any market could see the lack of partecipation o f particular timeframe (or more then one) for a lot of time. This is very normal. In the S&P 500 Dalton was used to say that he was not able tofind any sign of stronger partecipants for more then a year.
The problem here is that we are watching a market that have apparently (I'm not Dalton and I've not his great experience to be totally sure of that) only one timeframe acting. If it will change: fine. If not, we can migrate elsewhere. (Or, in my case, eventually learn to trade also in such environment)

In any case I know for sure that this is a big experience and that it's worth it.
Ubi maior minor cessat
  • #439,489
  • Sep 9, 2016 4:35am Sep 9, 2016 4:35am
Hello guys,
I am totally bear on this cross.
For now I have opened a small position in order to test in the analysis is good. If confirmed I will opend new sell position in the next weeks.
The picture is a bullish butterfly and we are maybe doing the last wave (CD)

GG
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Untitled 32.jpg Size: 446 KB
Click to Enlarge Name: Untitled 33.jpg Size: 338 KB
  • #439,490
  • Sep 9, 2016 4:36am Sep 9, 2016 4:36am
Quoting Don96
{quote} Yeah I agree with that lost in translation somewhere I think
Very good. Now it's clear. You're welcome.
Ubi maior minor cessat
  • #439,491
  • Sep 9, 2016 4:39am Sep 9, 2016 4:39am
Quoting Lock
{quote} Any market could see the lack of partecipation o f particular timeframe (or more then one) for a lot of time. This is very normal. In the S&P 500 Dalton was used to say that he was not able tofind any sign of stronger partecipants for more then a year. The problem here is that we are watching a market that have apparently (I'm not Dalton and I've not his great experience to be totally sure of that) we have oonly one timeframe acting. If it change: fine. If not, we can migrate elsewhere. (Or, in my case, eventually learn to trade also in...
Got the Dalton book, working my way through it.. Thanks
Striving for consistency
  • #439,492
  • Sep 9, 2016 4:41am Sep 9, 2016 4:41am
Quoting Wdfx
{quote} 70 pips a day would do me
ambitious
I'm high on trading, cant you tell?
  • #439,493
  • Sep 9, 2016 4:43am Sep 9, 2016 4:43am
Quoting soultrader
I'm just dipping my toes in the water again WDFX. Back in 2005 I was trading around 17mil for clients and my own money too. start of the credit crunch hit me and by 2009 I was out. I needed to get out before forex killed me - I went into the radio business until i got voice cancer which took me out of that. Since then I made a mint selling t-shirts of all things - sold $4million worth in the last two years and it now provides me with a semi-passive income. I'm kinda semi retired now i guess and just got the 'urge' to trade again. I'm not pulling...
Cheers Soultrader, I am looking for a break below 3280 to short and 3320 for longs? lets see if it gets there.
Striving for consistency
  • #439,494
  • Sep 9, 2016 4:44am Sep 9, 2016 4:44am
Quoting Devart
Hello guys, I am totally bear on this cross. For now I have opened a small position in order to test in the analysis is good. If confirmed I will opend new sell position in the next weeks. The picture is a bullish butterfly and we are maybe doing the last wave (CD) GG {image} {image}
im a bear here too, though short term
I'm high on trading, cant you tell?
  • #439,495
  • Sep 9, 2016 4:48am Sep 9, 2016 4:48am
the 4hr candle closed below daily Pivot point. Wait for it.....
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH4wait.png Size: 48 KB
I'm high on trading, cant you tell?
  • #439,496
  • Sep 9, 2016 4:50am Sep 9, 2016 4:50am
Quoting Dr.Phoenix
{quote} Thanks, Lock. For now I would like to publish MP-Multi Composite Profile. Enjoy it !! Best D.P. Source - http://www.fxindi.net {file}

Interesting. I got it already in my indicators but I never used it. I'll take a look. Thanks, Best L.
Ubi maior minor cessat
  • #439,497
  • Sep 9, 2016 4:56am Sep 9, 2016 4:56am
Eventually we got an inside bar: E period is inside D. A possible break out from here.
Ubi maior minor cessat
  • #439,498
  • Sep 9, 2016 5:19am Sep 9, 2016 5:19am
amicable you may be but no one know what your saying at all ,if your saying stuff apply a chart ,

Quoting Lock
Eventually we got an inside bar: E period is inside D. A possible break out from here.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #439,499
  • Sep 9, 2016 5:24am Sep 9, 2016 5:24am
Quoting Lock
Eventually we got an inside bar: E period is inside D. A possible break out from here.
Yeah..

Somehow I see it and begin thinking of going higher right from here. What means the scenario of Koppa (two posts above) might become valid.

Best
D.P.
Hunting High and Low
  • #439,500
  • Sep 9, 2016 5:28am Sep 9, 2016 5:28am
I'm selling the USDJP for anyone who is interested sell 10238 sl 10247 tp 10200
Striving for consistency
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