You do realize its pointless:D the insanity is one of the things I like about these forums. If we were all as serious as you guys forum traffic would drop to nothing.
On second thought the ones that stuck around would probably be a lot richer:p
Keep up the quality posts I don’t comment much here but I read every new post.
Uh huh, a false break higher followed by aggressive selling… if anything that has to be good for a short position 
However, it ain’t over until the obese hag coughs… or something 
I found this on a Swedish car magazine’s website. It’s in dutch which I don’t speak, but you don’t need to understand the conversation to admire this 89 year old man.
Think you can beat him at parking in a tight spot?
No doubt.
It can be amusing to read the threads and posts, but after a while you (I anyway) come to realize that it’s just a waste of time.
The price of time is the same as what is called opportunity cost - that is, the cost of wasting time is that you could have done something more worthwhile instead. For every year that passes, I increasingly feel that life is way to short to waste time on useless/insignificant stuff. And I’m just 30! :eek:
Apparently most people here, and everywhere else too for that matter don’t think that way. They’re happy wasting time and energy on things that will result in nothing.
Just look at the amount of pissing contests around here. Why? What’s the point? What possible benefit for anyone could there be? Ego boost maybe, a pretty sad one then.
Better to read a trading book if they’re serious about FX and “making it big”. Judging by actions rather than words, there are very few serious people here.
This is not to say relaxing and kicking loose isn’t ok, of course it is. It just surprises me that people do it here since this isn’t a hobby or party or anything like it. This is a business, nothing else. If we want a good time there are better places…
Rant done.
Glad you get something out of my less than coherent thread! Needless to say, I love your avatar 
Month is coming to a close tomorrow and it will be interesting to see what monthly bars we get.
AUDCAD for instance might give us a bias to look for setups on, it looks like we may be getting an IB month. The breakout direction could be worth waiting for.
Also noticing that AUDNZD has been completely unable to get a close above 1.2680 for several days now with pins sticking up. Meaning? Who can tell, no setup in my book, but still the sort of things that form our more or less unconscious bias.
On the daily, GBPCHF again failed at 1.70 with a not to shabby pin bar (FXPro feed). I’m a cautious guy, so since I already have a GBP short (at BE yes) I’m sitting on hands without analyzing it closer.
It went on to my “must read” list. Very solid text covering the relevant short and medium/longer term patterns. He covers Pinocchio bars, two and three bar reversals, rectangles, H&S, double tops and bottoms, triangles with different inclinations, gaps, trend lines, S/R, IB, OB, volume, confluence etc.
I really recommend it. Most of it you’ll recognize from the J16 material but it’s nice to read the “source” so to speak.
There’s even a 1H video included from a presentation he held in London, but I haven’t had time to watch it yet.
[B]Where to mr Cable?[/B]
1.44440 by the end of march 2010 according to prop desk data.
Do you have the psychology, discipline and trading skills to hang onto your trade?
Next week Sunday open is the first test for your psychology. Did you notice what happend with GU on 16:00 hours EST today? Look at your charts and the Money Flow Index.
Good luck.
Looking at H1 and M1. Can you give another hint?
More candles on the chart. I see a rebound when MFI(14) is below the 20 line. Am I getting warmer?
Weekly chart. MFI(14) showing positive divergence. Am I in the ball park?
tjfxtrader, you’re right in the ball game here. Someone is thinking outside the box. Very refreshing.
What do you think where those stop clusters have been placed from the crowd who jumped on board, yesterday?
What will happen when those stop clusters going to get hit?
The stop clusters further up before the drop last wednesday/thursday won’t be affected. That was the smart crowd catching the ride.
You are giving me way too much credit. Not sure about stop clusters.
According to my calculations, the MFI(14) exceeds the 80/20 lines less than a total of 10% of the time.
Question for used: Does this mean the gbpusd should rebound soon?
The MFI(14) exceeding the 80/20 levels seems to be a rare occurrence across all of the chart periods.
Question for used: Is this the clue?
As soon as you [B]get in sync with money flows[/B] profits from the markets starting to flow. Profits are not generated through logic or subscribing to a pile of tech indicators.
Money flows are the pulse of the markets. Gauging, reacting and constantly adapting to its rhythm let you pull out some serious cash out of this markets because you are dealing with human emotion and human decision making when engaged in these markets. Humans are creatures of habit and that’s where the stop clusters come into play. Habits don’t get cast aside when dealing with cold hard cash. Neither does fear and greed.
Think about it.
Smart operators won’t let anyone pull out a potential +2000 pips within three month out of the GU pair. They don’t care whose account it is they are raiding. Cold, hard cash is all they care about.
I’ll leave it at that.
Still looking for clues. Testing from MFI(5) through MFI(14) to see how many times the minimum and maximum are exceeded on the current bar. It would be a shame to miss pips if MFI(14) didn’t exceed 20 or 80 but MFI(13) did.
[B]Question for used: Am I getting warmer?[/B]
Alpari. The MFI indicator is an internal indicator so it should work with any broker.
[B]double iMFI(string symbol, int timeframe, int period, int shift)
Calculates the Money flow index and returns its value. [/B]
It is documented at iMFI - MQL4 Documentation
I do have the discipline for something like that, not so sure about skills and psychology.
Of course nobody ever knows where price will go, not even prop desks.
I have been looking at the possibility of removing my TP and aim for more, say 1.50-ish. The higher time frames look very bearish.
There’s no point in exiting a trade without a signal/reason for it. Everything looks bearish for GBPUSD now and logic therefor tells us/me to stay with the flow for as far as it will take us/me.
I’m leaning towards doing this and trailing my stop far enough behind to allow some chop.
The MFI is not part of my trading method, I looked at it a bit but I actually prefer the RSI to it. I guess you referred to MFI going below 20 on the 1H, and/or the divergence pointed out by tj? I try to stay with the higher time frames, 1H is off limits to me.
MFI in forex also requires access to better volume data than I have access to.
