Thread: Discuss the GBP/USD with a DailyFX Analyst

Originally Posted by 4xis2ez

2:00 am ny time. And it appears the 4 high arrived at 9:30 ny time.

gotcha. so the 4 hi(on the 16 week) arriving around 9:30 was really early. could make the low we just saw around noon be the #5 low already?

Originally Posted by 4xis2ez

turns 4, 6, 7, 8 and 9 have changed some.

You have done some great work, the markets are so nervous and so difficult atm, it shall stabilise soon and the counts and observed cycles shall be even more useful than in this stormy markets at present. I am looking forward to a more peaceful sailing, as it certainly shall come. Many thanks for your contributions, and it takes a good man/woman to do his/her best and later to change it for something even better.
Regards,
2be

Originally Posted by YOUNG GUNS

gotcha. so the 4 hi(on the 16 week) arriving around 9:30 was really early. could make the low we just saw around noon be the #5 low already?

maybe price willl continue north and put in the 4 in the early hours (uk time)..? if not then yes it really was early!!.

Originally Posted by FX Newb

maybe price willl continue north and put in the 4 in the early hours (uk time)..? if not then yes it really was early!!.

I'm not sayin they are correct,but...if you look at the charts i attached a few posts ago. my #3 low is marked for about 10:30 am est. when i went back further in time using 10 different trading weeks i came up with about 11:30am est for the #3 low. and my #4 comes in thursday morning sometime. i am flat at the moment and am just observing.

IF the #4 was at 9:30est and the # 5 was around noon, then are heading towards the 6 hi?

Originally Posted by YOUNG GUNS

gotcha. so the 4 hi(on the 16 week) arriving around 9:30 was really early. could make the low we just saw around noon be the #5 low already?

I doubt very much the 5 low is in. It is possible that price may drop back to near todays low at noon and not make a new low but be close. Do not try to discern the highs and lows based on the absolute pip level.

However, another possible view is that the 11:30 low is the 3 low and now moving to the 4 high. ?????

Here is the 28 day cycle solution for Oct. 23. Look at the big down move between turn points 6 to 7 on the charts. Maybe a good short tomorrow. Copy and paste the image to your computer. Save these charts as they are used again every 28 days.

Originally Posted by 4xis2ez

Forexgreenland, what is your point in your post below? Are we to

expect spam in the future from you?

Originally Posted by djindyfx

I'm in agreement with 4x..

Forexgreenland.. Please do not post your IM messages in the Forum. Understandably..We see

you caught a Drop. This one could just have been luck.. What "Signal" did you use to

catch the drop? That might be more of a learning experience for the people in the

Forum

I come in peace,mon amis...

On the contrary, your discussion on the Welles Wilder book ''The Delta Phenomenon or the

Hidden Order In All Markets'',piqued my curiousity.. Jim Sloman, the genius engineer that

discovered it and shared it with Welles, talked about Delta turning points and where and

when it should be in the markets. Though he claims Delta is the basis of all market

movements, there are NO exact exit and entries to take advantage of those predetermined

Delta turning points..
''The secret can be defined for all five Delta time frames by just eighteen words.
Markets repeat directly or inversely relative to the total interaction of the sun, the moon,

and the earth.
For the Intermediate Term Delta time frame, each colored line is on the
date of each FULL MOON!
We can define the Intermediate Term Delta in nine words.
Markets repeat directly or inversely every four lunar
months.
That is the height of simplicity. It is a truism. It has held up as far back
in history as there is obtainable data. And yet, it has eluded everyone who
ever tried to find it . . . the real underlying order in markets . . . until it was
discovered by Jim Sloman in the summer of 1983.
Now, even though we know the Delta order is perfect, unfortunately,for me, the exact date of

the high and the exact date of the low (of thehigh/low rotation) is not perfect. If it were,

you would not be reading this book and I would have, by now, accumulated more wealth than

anyone else in this world!
So. it is important to understand the difference between perfect order and perfect accuracy.

Perfect order involves a phenomenon that repeats exactly within a defined reference. In this

case the reference is the perfectinteraction of the sun, moon and earth.
Perfect accuracy defines the accuracy within the order. In this case,
the accuracy is that of the turning points. That is, how close a particular turning point

will come to a predicted date. Obviously, it is not possible for perfect accuracy to exist

within the perfect order of markets.'' Quote from the Delta Phenomenon Book

That is where I come in, my friends..

Originally posted by Hoof:
[QB] Hi. This is my first post and I want to try get some answers to the questions I have

about this thread. It would appear as though the 60% "window" does in fact appear to get

slightly more hits than the 61.8 fib. Why exactly is beyond me but it does appear that way.

We will see how long that lasts.

I do not know how you are calculating targets but I was able to pick up 70 pips on GBP/USD

but would like to know if target prices are established from support or resistance or if

there is in fact a calculation that is being used?

Are you selling a service? Your website and forum suggests that you are selling a service.

[/QB]

Helloo Hoof,
It is true the 60% window got more ''hits'' than the 61.8 fib..and it lasts as long as

there's a forex market..
There are calculations being used,which also takes cognizance of support and resistance

levels..The CHART PATTERN RECOGNITION AND PRICE PROJECTION STRATEGY is a conglomeration of

diverse and dynamic trading techniques that is synergetically combustulated to form a

holistic winning formula or ''edge''.
Please dont get me wrong, Hoof....I'm not selling out...especially in the art of trading..
Welles Wilder of the ''Delta Phenomenon'' sells his books and services..Steve Nison ,Tom De

Mark,Dr Alexander Elder, Dr Van Tharp,etc..sells their services and manuals,Warren Buffet

sells his services through Berkshire Hathaway,Bill Gates through Microsoft..etc..Does that

mean they are sell outs or any lesser than the trading public? I dont really think so..else

how would anyone get to benefit from their insights and experiences?
They are still true to their art..which only makes them better..Trading is an Art,Science ,

as well as Business, and should be treated as such..

Originally Posted by XtRaVaGaNt

Hi forexgreenland, is it possible for me to join your littel club...

please... although im a noob i want to learn from you guys please please

master

[13:45:33 21/10/08] Stalion : helloo everyone

[13:45:43 21/10/08] skipper : Hi

[13:46:27 21/10/08] Stalion : our long gu order didnt go according to plan early this

morning, so we cut it off and say next..

[13:48:27 21/10/08] Stalion : we put a sell pending order on gbpusd @ 1.6955, 1st target @

1.6919...

[13:49:24 21/10/08] Stalion : sl@ 1.7108

[13:51:57 21/10/08] skipper : hope your order hits & I'm still with you on the journey down

[13:52:26 21/10/08] klho83 : Hi Stal

[13:52:51 21/10/08] Stalion : hi K

[13:53:50 21/10/08] klho83 : Stopped for GU long trade during asian session

[14:01:43 21/10/08] masif1 : coolio

[14:03:56 21/10/08] tundope : hi stal

[14:06:51 21/10/08] Stalion : OKAY

[14:21:48 21/10/08] Stalion : price almost brushing our sell stop order

[14:38:28 21/10/08] Stalion : hi enolase..

[14:40:06 21/10/08] enolase : i am on the sidelines for now

[14:40:20 21/10/08] enolase : the BoC interest rate decision is a tricky one

[14:40:40 21/10/08] Stalion : hi fxmonkey...

[14:40:58 21/10/08] enolase : market expecting a 50 basis points cut, so movements downward

may have been factored in

[14:41:49 21/10/08] didi : it's not been too rosy.i once traded with no stop loss and lost

1'400 in 3 mins

[14:42:10 21/10/08] enolase : CAD may gain if there is only a 25 basis points cut or no cut

at all, so I will just watch it

[14:44:11 21/10/08] Stalion : what was the name of the strategy you used?

[14:45:05 21/10/08] enolase : $1,400 in 3 mins?

[14:45:53 21/10/08] didi : i try to keep it simple,just some ema's,rsi and stoch.like i said

i'm new
[14:46:25 21/10/08] Stalion : yes, eno, the USDCAD and AU/USD may be worth watching this

afternoon....I hope the news gets to have a high impact

[14:47:41 21/10/08] Stalion : no probs....but at the end, didi...its not more about the

right strategy than risk management...they both are very important...

[14:48:17 21/10/08] enolase : but like Stal said, risk management is very important

[14:48:44 21/10/08] enolase : i learnt these lessons the very hard way last year in my early

trading

[14:49:22 21/10/08] didi : believe me i now know d importance of risk management

[14:49:52 21/10/08] Stalion : if 1400 was like 2 to 5% of your total equity that you lost in

3 mins, then you wouldnt be that worried, would you?

[14:49:54 21/10/08] enolase : one thing i learnt from Stalion

[14:50:04 21/10/08] enolase : THERE ARE ALWAYS OPPORTUNITIES IN THE MARKET

[14:50:15 21/10/08] enolase : u miss one, wait. others will come

[14:51:51 21/10/08] didi : for u trades how much stop loss do u recomend

[14:52:11 21/10/08] Stalion : but the main challenges is Do You See Them and Take The Trade?

[14:54:29 21/10/08] didi : the problem now is after that loss i lost a lot of confidence and

i've only just started trading again.and all i do is scalp for 5 pips here and there

[14:55:39 21/10/08] Stalion : earlier this year, a 40 pip stop loss was fitting...but with

the recent volatility in the markets,price tends to move more...check the average range of a

candle stick bar, from high to low

[14:58:20 21/10/08] Stalion : so, now,placing stops at support and resistance areas are more

prudent,,,especially with recent price movements...

[15:07:46 21/10/08] fxjedi : so do we sell usdcad as it came out on 0.25 basis points, Stal?

[15:11:36 21/10/08] Stalion : not yet, jedi

[15:12:58 21/10/08] Stalion : we put a buy stop on USDCAD @ 1.2100....1st target @ 1.2150

[15:13:53 21/10/08] enolase : yes jedi

[15:13:58 21/10/08] enolase : not yet

[15:14:15 21/10/08] enolase : there is a dovish statement made by the BoC

[15:15:31 21/10/08] enolase : which will likely make the CAD pairs to follow recent trends

[15:15:38 21/10/08] Stalion : sl 1.2050

[15:16:38 21/10/08] enolase : order should be 15 pips in profit now

[15:23:44 21/10/08] Stalion : lets wait and see,enolase

[15:39:57 21/10/08] Stalion : there is resistance at the 1.2128 region

[15:41:47 21/10/08] Stalion : so remember guys, we have a sell pending order on the gbpusd

and a buy pending order on the usdcad...

[15:47:52 21/10/08] masif1 : thanks stal

[15:51:17 21/10/08] masif1 : uscad buy triggered

[17:34:15 21/10/08] masif1 : target hit!




[17:34:27 21/10/08] masif1 : 50pips made on the USDCAD

[17:34:53 21/10/08] masif1 : and still going up

[17:35:08 21/10/08] masif1 : damn i knew i should have put a trailing s/l

[17:54:24 21/10/08] masif1 : first target hit on the cable short!



[17:54:28 21/10/08] masif1 : 40pips made there

[17:54:35 21/10/08] masif1 : and still going down

[17:54:45 21/10/08] masif1 : damn wish i had traling s/l on that as well

[08:59:43 22/10/08] enolase : made $1500

[08:59:58 22/10/08] pipster1 : Very Good

[09:03:08 22/10/08] enolase : 1000 pips from Monday morning: that has been the story of the

GU move

Dow tumbles 514 on earnings forecast worries - Yahoo! News

Originally Posted by 4xis2ez

Here is the 28 day cycle solution for Oct. 23. Look at the big down move between turn points 6 to 7 on the charts. Maybe a good short tomorrow. Copy and paste the image to your computer. Save these charts as they are used again every 28 days.

thanks 4x..yes the 6-7 does look a good one and im sure that this is the best way to go..to look out for the biggest turn points and trade more heavily on those..and skip the smaller turning points..

good luck tommorow..currently not in but will be looking to enter around the 1 on dailys

thanks again

Originally Posted by 4xis2ez

I doubt very much the 5 low is in. It is possible that price may drop back to near todays low at noon and not make a new low but be close. Do not try to discern the highs and lows based on the absolute pip level.

However, another possible view is that the 11:30 low is the 3 low and now moving to the 4 high. ?????

morning...well i missed the 8pm 4 high on the weekly (was asleep UK)..but just managed to get in at 6290...after i witnessed a 100 point drop in like 2 seconds..lets see where 4-5 takes us today..

happy trading.

Does anyone know what it means to see the levels on the chart in order to figure out why a drop would happen? I was asking a professional trader why the 100PT drop happened around awhile ago and they asked me to resend my tick chart with "LEVELS". What are levels and how do I get them?

Originally Posted by FX Newb

morning...well i missed the 8pm 4 high on the weekly (was asleep UK)..but just managed to get in at 6290...after i witnessed a 100 point drop in like 2 seconds..lets see where 4-5 takes us today..

happy trading.

Hi fxnewb, I think I'm only going to look for long trades today. The market is so over sold, it seems a big retrace would be in order. Besides the 16 week turn points seem to be unclear right now.

Here's how the 16 week turn points have been working out this week. I am looking for the 5 low to be made today and trading long then.The market is very over sold and there could be a big retrace.

Originally Posted by 4xis2ez

Here's how the 16 week turn points have been working out this week. I am looking for the 5 low to be made today and trading long then.The market is very over sold and there could be a big retrace.

hey ..yes same here i have still my short @6290 and will see how that goes might close at point 3 on daily chart which should be within next 20 mins or so..

as you say a big retrace could come at turn point 5 on weekly
but could drop alot more especially in to the london fix..just my take..

good luck!

Originally Posted by FX Newb

hey ..yes same here i have still my short @6290 and will see how that goes might close at point 3 on daily chart which should be within next 20 mins or so..

as you say a big retrace could come at turn point 5 on weekly
but could drop alot more especially in to the london fix..just my take..

good luck!

well just got out of 290 short..possible 3 low will be in now or very soon..looking to go long.. using tight SL though..

Originally Posted by FX Newb

hey ..yes same here i have still my short @6290 and will see how that goes might close at point 3 on daily chart which should be within next 20 mins or so..

as you say a big retrace could come at turn point 5 on weekly
but could drop alot more especially in to the london fix..just my take..

good luck!

Hi there Newb and 4x,Im a bit confused about the timings on this method our using, could you clarify a little please.
Newb says point 3 is due around 11.15ish uk time (where I am), but on your calcs in a post further up the page it shows (if i have understood and made the correct adjustment of +5hrs to convert it to UK time) that your 3 point comes in around 10.30 -11.00ish UK time.

Also am i correct in my assumption that your expecting the 5 low from your weekly chart to come in either at the 5 low on the daily chart (ie around 13.45 ish UK time) or at the 7 low on the daily chart (ie bang on 17.00 UK time).

I appreciate not everything happens like clockwork regarding timings but It seems either I'm reading it wrong or as i say the timings are a little off.

Cheers and good luck to all.