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Cable Update (GBPUSD)

  • #459,301
  • Apr 12, 2018 1:01pm Apr 12, 2018 1:01pm
Quoting Situhin
Do u have any thought on Gbp/jpy
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  • #459,302
  • Apr 12, 2018 1:01pm Apr 12, 2018 1:01pm
Quoting Bones
right yea you think its in there still ? if it breaks the consolidation up we have confirm ? {quote}
I’d say so see where your flag pole is I’d say a strong break above that it would be confirmed if it was to play out
  • #459,303
  • Apr 12, 2018 1:03pm Apr 12, 2018 1:03pm
123 equal
Quoting Bones
daily failed , outright heres weekly example also the view next week {image}
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  • #459,304
  • Apr 12, 2018 1:10pm Apr 12, 2018 1:10pm
Then on the other hand we have this on the pound index
Ascending broadening wedge on the daily

if your wedge playes out I’ll imagine it will be a close above that resistance level and break out on the index.

if my index wedge plays out then the GBP will plummet time will tell
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  • #459,305
  • Apr 12, 2018 1:17pm Apr 12, 2018 1:17pm
like that

Quoting Neil0163
{quote} I’d say so see where your flag pole is I’d say a strong break above that it would be confirmed if it was to play out
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  • #459,306
  • Apr 12, 2018 1:19pm Apr 12, 2018 1:19pm
weekly as you see it right now is correct

Quoting Neil0163
Then on the other hand we have this on the pound index Ascending broadening wedge on the daily if your wedge playes out I’ll imagine it will be a close above that resistance level and break out on the index. if my index wedge plays out then the GBP will plummet time will tell {image}
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  • #459,307
  • Apr 12, 2018 1:40pm Apr 12, 2018 1:40pm
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  • #459,308
  • Apr 12, 2018 1:53pm Apr 12, 2018 1:53pm
Quoting Bones
like that {quote} {image}
That’s the one, could take a safer option and see if the pull back holds price more than likely will test that break point soon, classic example is on EJ with the triangle breakout price came to test it today (resistance turned support)
  • #459,309
  • Apr 12, 2018 2:06pm Apr 12, 2018 2:06pm
Quoting 3force
Where is the final target of weekend ?
Seems 4230!!!!
  • #459,310
  • Apr 12, 2018 4:24pm Apr 12, 2018 4:24pm
Probably at the very least, another 120+ pips left to squeeze out of this move.
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Come with me if you want to live....
  • #459,311
  • Apr 12, 2018 4:32pm Apr 12, 2018 4:32pm
Quoting classy
{quote} great ,thanks for response....no i have nothing to tell my friend.if you are doing good and feel better than your method is best for you and it is aplicable for any trader ..imho...i want to hear from you (if you want to..) ..how you read /interprate your chart mate
Gee whiz, I have made over a thousand posts on how I read charts, how much more do you need to read?
  • #459,312
  • Apr 12, 2018 4:42pm Apr 12, 2018 4:42pm
you speak Australian tho

Quoting Nala66
{quote} Gee whiz, I have made over a thousand posts on how I read charts, how much more do you need to read?
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  • #459,313
  • Apr 12, 2018 4:50pm Apr 12, 2018 4:50pm
shorter's realize their wrong
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  • #459,314
  • Apr 12, 2018 4:59pm Apr 12, 2018 4:59pm
opps its not short what to do
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  • #459,315
  • Apr 12, 2018 5:06pm Apr 12, 2018 5:06pm
Quoting Bones
you speak Australian tho {quote}
Well I am sorry I don't speak Boneshit!

Most people find my trading is simple, effective and profitable once they understand the elements I am looking at.

With very little between your ears I should imagine you would really struggle.

On Sunday I posted the two targets for the week 41637 and 42314 both hit, what part of that do you not understand?
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  • #459,316
  • Apr 12, 2018 5:11pm Apr 12, 2018 5:11pm
yes very convincing thanks
Quoting Nala66
I have 41637 then 42314 penciled in on the 1 hour. This is because the bears failed to make the LL average so the bulls go on to test the HH averages.
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  • #459,317
  • Apr 12, 2018 5:29pm Apr 12, 2018 5:29pm
Quoting Bones
yes very convincing thanks {quote}
You are welcome.

This is how the market works as it tests long and short, failing a test in one direction leads to the test in the opposite direction. It has always done this and will always continue to do so.

As traders all we have to do is look for the failures then we know where the opposite test is.

For example price on the hour is currently testing the HH average. Since the price was in divergence a little while ago but has so far not responded by breaking below the current average then we would assume price is going long to make the HH average. Now since I do not have a target to chase above this level I am not trading the unknown.
  • #459,318
  • Apr 12, 2018 5:32pm Apr 12, 2018 5:32pm
Quoting Nala66
{quote} Well I am sorry I don't speak Boneshit! Most people find my trading is simple, effective and profitable once they understand the elements I am looking at. With very little between your ears I should imagine you would really struggle. On Sunday I posted the two targets for the week 41637 and 42314 both hit, what part of that do you not understand? {image}
it's not possible to learn your system because you do it after the fact 9 times out of 10
price mostly has already moved by the time you explain it

Quoting Nala66
Here you go... See how complicated it can get, S and R not included. {image}
also earlier in the week you posted a chart with loads of lines on with no description for some reason


Quoting Nala66
{quote} Well I am sorry I don't speak Boneshit! Most people find my trading is simple, effective and profitable once they understand the elements I am looking at. With very little between your ears I should imagine you would really struggle. On Sunday I posted the two targets for the week 41637 and 42314 both hit, what part of that do you not understand? {image}
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  • #459,319
  • Apr 12, 2018 6:27pm Apr 12, 2018 6:27pm
Quoting Bones
{quote} it's not possible to learn your system because you do it after the fact 9 times out of 10 price mostly has already moved by the time you explain it {quote} also earlier in the week you posted a chart with loads of lines on with no description for some reason {quote}
Bones you are a real frustrating person to talk to, talk about nitty picking, you have certainly mastered that.

The post with all the lines on it was an answer to a question I was asked.

I never ever post after the fact because the targets are made long before they are hit. If you don't draw them on your own charts that is hardly my fault is it. I am not here to tell you your business, just to explain mine and if you choose not to listen then that is fine by me.

Look at this 1 hour chart (some lines are now missing) I have removed price entirely from it so the actions can be clearly seen.

Note when the average fails to make a HH or a LL it is followed by either bullish or bearish support to test the opposite side. These supports convert to resistance levels later. The green lines on this recent up move are already drawn in for later so how can this possibly be after the fact, they are often weeks ahead and if posted would be lost in a sea of other posts.

The current situation is the average has already made its run so I wouldn't be buying a top but I also need to see bear support before I sell it. I have nothing to go on at this time. There is a good chance we will see an impulse bar pulling the average to its topmost level, but I don't know that yet.
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  • #459,320
  • Apr 12, 2018 9:05pm Apr 12, 2018 9:05pm
G/U approaching decision point,
either it will break the Resistance and fly away or break down hard

either way, trading with Patience is the name of the game here

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