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When Baba G starts speaking English, I'd like to have a conversation with him.Ignored
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Disliked
When Baba G starts speaking English, I'd like to have a conversation with him.Ignored
DislikedBy the way, Michael Jackson, whose music i grew up with and still listen to, the true definition of a musical genius, didn't die of a cardiac arrest.
Died of food poisoning, apparently he'd been munching on 12 year old nuts!!Ignored
DislikedI meant to mention it yesterday but forgot.
Most forex pairs "vibrate" around a moving average and this is one of the arguments for specialising in a particular pair in that you get to know it like it is your best friend.
GBP vibrates around the 365EMA. We can see this in the GBP pairs - see below. (I used price bars because pizza man doesn't understand candles or MAs!)
The more observant of you lot may see something else in the gbpusd chart
See if you can find the moving average vibrations for other pairs.
GOOD VIBRATIONS - Beach...Ignored
DislikedI meant to mention it yesterday but forgot.
Most forex pairs "vibrate" around a moving average and this is one of the arguments for specialising in a particular pair in that you get to know it like it is your best friend.
The more observant of you lot may see something else in the gbpusd chart....Ignored
DislikedBig Boss - Down
Boss - Down
Daily - Down
I've been watching the usd/jpy for a bit and had this triangle (yellow lines) drawn in for quite a while. Initially it broke out to the upside, hit resistance and then cam back to test the upper trend line without good PA, and failed. Now we have reversed and broke out to the downside and have retested the lower TL (and 20) with good PA (shooting star). 94 is support.
There also appears to be a head and shoulders. Not sure if the neckline is where I drew it or if it is the 94 price line.
I missed this...Ignored
DislikedI will have a stab.
I had my upper trendline where yours is originally but I moved it to respect the more recent highs. Not really relevant to this trade thouogh.
I think this is a fair break and retrace entry. It is not at an obvious horiz level and the shooting star is not at the end of a true swing but this is not so relevant for this type of entry. It has tested the lower trendline nicely.
I have strong support at 94.50 so would be taking profits just above that at say 94.30 which is just better than 1:1 R:R ratio. The Boss and Big...Ignored
DislikedWould you be referring to the cup and handle formation?
It also looks like we are bumping into resistance and close to 50% retrace of last downtrend.
What do you think is next for the GBP/USD?Ignored
DislikedNot sure what you are getting at but here is what I can see:
1. Strong resistance at 1.66 dating back to 1988 and 1995
2. 62% retrace from the last small swing up in Sept 08 to the bottom
3. Worker has been respecting the 20EMA on this upswing.
4. Consolidation between 1.62 and 1.66 that does not look worth trading unless you are a fader at the channel top and bottom.
Somehow I don't think any of these points are what you are hinting at.
I am looking for a break of 1.66 and then a retrace to go long.
SurferIgnored
DislikedI will have a stab.
I had my upper trendline where yours is originally but I moved it to respect the more recent highs. Not really relevant to this trade thouogh.
I think this is a fair break and retrace entry. It is not at an obvious horiz level and the shooting star is not at the end of a true swing but this is not so relevant for this type of entry. It has tested the lower trendline nicely.
I have strong support at 94.50 so would be taking profits just above that at say 94.30 which is just better than 1:1 R:R ratio. The Boss and Big Boss...Ignored
Dislikedhello folks,
in terms of the question of some people not posting... i want to make it clear that me personally, i have not left the path at all, but i am experimenting with different styles.
we talk a lot about patience here when it comes to trading successfully. i believe it equally helps to be patient with ourselves and each other in terms of how we apply the information that is presented here.
one of the things i am looking at at the moment is NZDUSD. might break out either way out of its consolidation zone - she is still deciding. in case...Ignored
QuoteDislikedQuote:
Originally Posted by Surfer http://www.forexfactory.com/images/buttons/viewpost.gif
[i]Not sure what you are getting at but here is what I can see:
1. Strong resistance at 1.66 dating back to 1988 and 1995
2. 62% retrace from the last small swing up in Sept 08 to the bottom
3. Worker has been respecting the 20EMA on this upswing.
4. Consolidation between 1.62 and 1.66 that does not look worth trading unless you are a fader at the channel top...
DislikedStrat, I think you have been talking to Baba G too much. Does your post mean I was correct?Ignored