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Cable Update (GBPUSD)

  • #631,501
  • Oct 16, 2021 1:53pm Oct 16, 2021 1:53pm
Quoting nAVIN2007
{quote} the reason why as a fundamental trader u not seeing it from a technical perspective is:- technicals are a leading indicator (reacting to the here and now) Fundamentals take time to show up in the charts (lagging) that why u suffer in charting..(your words) ie not as good fundamentals take time to show up in the charts. We as traders (technical) trade the here and now
Interesting point. You may be right, i am currently working on TA and my timing too. I am all ears for the indicator suggestions for timing entries
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  • #631,502
  • Oct 16, 2021 2:20pm Oct 16, 2021 2:20pm
Quoting nAVIN2007
I have a feeling we gonna drop hard

feeling to fall in love
MY OPINION NOT FINANCIAL ADVISE
  • #631,503
  • Oct 16, 2021 2:50pm Oct 16, 2021 2:50pm
Quoting LvMMT
Hi folks, In my opinion ... The fundamentals said that we are in a big crisis because it is a strong virus ... bla bla bla ... etc ... And here the technique shows us that we are going up, I mean Indices especially ... The fundamentals say I forbid BTC in China ... LOL ... and BTC grows exponentially ... I ... I don't trust the fundamentals ... or I look at them with distrust ... Many have become rich by betting against the fundamentals. Some also wrote ...

"... Technical analysis is the study of price patterns and volume
fluctuations. The theory, which really can't be disproved, is that all known
'fundamentals' are revealed in the price action of the stock. Even if a
company has a secret oil or gold discovery on its property, as soon as
someone finds out it will show up in the price action of the stock as it goes
up on increasing volume. The 'fundamental' news may be covered up for a
year or more.

Some traders also are 'tape readers' as opposed to 'chart readers’.

Tape readers simply look at the ticker tape and various news feeds and
watch the price action for unusual blocks of volume and up ticks or down
ticks in price action.

Horizontal support and resistance is the key here.

While this method has made millions for countless individuals I prefer
chart reading for trading. The chart gives so much more information than
just one day's tape, and time cycle analysis can readily be applied to the
chart patterns to predict the future."

Michael Jenkins

God bless everyone!
The only impartial feeling is love. It is also the only feeling of God.
  • #631,504
  • Oct 16, 2021 2:56pm Oct 16, 2021 2:56pm
Next week GU should be bearish...at least until midweek, but maybe all week, we will see.
Everyone can see the chart, but only a few can actually read it.
  • #631,505
  • Oct 16, 2021 3:04pm Oct 16, 2021 3:04pm
I have an "dark feeling" that we will se Cable at 1.3800+ very soon. And from there the real fun will start.
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  • #631,506
  • Oct 16, 2021 3:38pm Oct 16, 2021 3:38pm
Quoting OnlineAddict
Next week GU should be bearish...at least until midweek, but maybe all week, we will see.
Oh no, i was so sure that GU will be bearish. I have short positions on GU but now that we are in the same side i started to question my decision
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  • #631,507
  • Oct 16, 2021 4:40pm Oct 16, 2021 4:40pm
Quoting LvMMT
Hi folks, In my opinion ... The fundamentals said that we are in a big crisis because it is a strong virus ... bla bla bla ... etc ... And here the technique shows us that we are going up, I mean Indices especially ... The fundamentals say I forbid BTC in China ... LOL ... and BTC grows exponentially ... I ... I don't trust the fundamentals ... or I look at them with distrust ... Many have become rich by betting against the fundamentals. Some also wrote ...
I respect your view, and you look like a very kind person. So as a friend, i am highly suggesting you to keep an eye on fundamentals. I am not saying leave technicals, just combine both fundamental and technical analysis so you can stack the odds in your favour.

We are trading the currencies of the most reputable countries in the world after all. USD, GBP, JPY, EUR etc. and we need to track and analyse their economy. Without doing that, success is not possible in the long run.

Just combine both, and stack the odds in your favour. Just wanted to give a friendly advice since you seem like polite person.

God bless you too.
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  • #631,508
  • Oct 16, 2021 5:13pm Oct 16, 2021 5:13pm
Quoting Nordling00
{quote} I respect your view, and you look like a very kind person. So as a friend, i am highly suggesting you to keep an eye on fundamentals. I am not saying leave technicals, just combine both fundamental and technical analysis so you can stack the odds in your favour. We are trading the currencies of the most reputable countries in the world after all. USD, GBP, JPY, EUR etc. and we need to track and analyse their economy. Without doing that, success is not possible in the long run. Just combine both, and stack the odds in your favour. Just wanted...
Hi Nordling00,

I will look for a book to recommend.

I've been looking for her for a while and I can't find her. I'm afraid I didn't move it to another SSD.

It's the story of a trader who always bet against what Goldman Sachs and others like them said ...
He began to realize that certain types of news are traps.
He knew they were being told exactly the opposite of what they were going to do normally.

When he started doing this ... what do you think?

He got rich .... (he gained his freedom)

Those who trade with EA do not need fundamentals.

I think these fundamentals ... are made for MM to move a lot of money and trick others into giving them money ...

You always have to know what to do when the transaction is against you and you always have to know what to do when it is in your favor.

I'm working on the second part now.

Thank you for your answer!

I respect your opinion and I respect you too!

That's my opinion, but it doesn't mean I'm right.

God bless you Nordling00 and God bless everyone!
The only impartial feeling is love. It is also the only feeling of God.
  • #631,509
  • Edited 7:10pm Oct 16, 2021 5:43pm | Edited 7:10pm
... when you look @ this wkly general downtrend (of sorts, which of course just be a pullback in the mthly uptrend,) it started @ 4249 (downtrend hi) and you can see that the pullback from 3572-3989 was 417pips, and the pullback from 3602-3912 was 310pips, and the average of these two pullbacks is 363pips.

So, if this wkly downtrend is going to continue in what may prove to be just a pullback from 3411 (current downtrend lo,) the size of the pullback from said 3411 to 3774 (fri hi/current presumed pullback hi) is, what do you know - 363pips! Spooky! But on a serious note the presumed pullback from 3411 matches the current 'character' of this wkly downtrend.

Just an observation - nothing more. Draw your own conclusions. Make your own decisions.

wkly below.
Attached Image
Trader with an Edge.
  • #631,510
  • Oct 16, 2021 5:52pm Oct 16, 2021 5:52pm
Quoting nAVIN2007
{quote} the reason why as a fundamental trader u not seeing it from a technical perspective is:- technicals are a leading indicator (reacting to the here and now) Fundamentals take time to show up in the charts (lagging) that why u suffer in charting..(your words) ie not as good fundamentals take time to show up in the charts. We as traders (technical) trade the here and now
If fundamentals take time to show up on a chart (ie. Fundamental conditions present themselves via data before they appear on the chart), doesn't that make fundamental data a leading Indicator?
Compulsions can be hard to resist
  • #631,511
  • Oct 16, 2021 5:59pm Oct 16, 2021 5:59pm
Quoting LvMMT
{quote} Hi Nordling00, I will look for a book to recommend. I've been looking for her for a while and I can't find her. I'm afraid I didn't move it to another SSD. It's the story of a trader who always bet against what Goldman Sachs and others like them said ... He began to realize that certain types of news are traps. He knew they were being told exactly the opposite of what they were going to do normally. When he started doing this ... what do you think? He got rich...

I knew I would find her!

Jesse C. Stine -> Insider buy superstocks

I strongly recommend reading it ( and buying it)

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God bless Jesse C. Stine and God bless everyone!
The only impartial feeling is love. It is also the only feeling of God.
  • #631,512
  • Edited Oct 17, 2021 7:49am Oct 16, 2021 6:26pm | Edited Oct 17, 2021 7:49am
Quoting LvMMT
{quote} I knew I would find her! Jesse C. Stine -> Insider buy superstocks I strongly recommend reading it ( and buying it) {image}{image}{image} {image} God bless Jesse C. Stine and God bless everyone!
Definitely an interesting read. Thank you LvMMT!

But when i said fundamentals, i didn't mean advices from institutions or news from the media. I meant economic datas from the governments' bureau of statistics and central banks. I get your point though.

God bless you
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  • #631,513
  • Oct 16, 2021 7:51pm Oct 16, 2021 7:51pm
Quoting LvMMT
{quote} I knew I would find her! Jesse C. Stine -> Insider buy superstocks I strongly recommend reading it ( and buying it) {image}{image}{image} {image} God bless Jesse C. Stine and God bless everyone!
I suddenly to see your thread and seem every one look for the book and I have it here you go .Enjoy to read the book and good luck for trading.
Attached File(s)
File Type: pdf Insider buy superstocks by JESSE STINE (z-lib.org).pdf   6.0 MB | 5,722 downloads
  • #631,514
  • Oct 16, 2021 8:37pm Oct 16, 2021 8:37pm
Quoting Coreg2004
{quote} Georginson, I have never even implied in my post the after GU reaches the bearish bat pattern zone it will reverses and go to the drain. It is a marly setup. My ethics and moral compass prohibit me from stating "sure" things about markets in my posts. I don't know if GU reverses or goes thru the zone to higher targets.
Sorry for going against your ethics and morals not in anyway intended. Also noteworthy that whatever I also post comes with no obligation to follow and this is always repeated.
Data + Stat + Risk/Emotions Management
  • #631,515
  • Oct 17, 2021 1:38am Oct 17, 2021 1:38am
Quoting trumps
{quote} If fundamentals take time to show up on a chart (ie. Fundamental conditions present themselves via data before they appear on the chart), doesn't that make fundamental data a leading Indicator?

Take brexit as an example..is the effect of brexit in the charts?
Driver shortage...the effects of these things are coming

Fundamentalists hardly make money in trading unless they use TA to guide them
  • #631,516
  • Oct 17, 2021 2:38am Oct 17, 2021 2:38am
Quoting nAVIN2007
{quote} Take brexit as an example..is the effect of brexit in the charts? Driver shortage...the effects of these things are coming Fundamentalists hardly make money in trading unless they use TA to guide them
i think it is mate, looking pretty Brexit we traded GU mainly between 140-155 the impact is still there. The possibility of a rate increase is the only thing that has helped the pound climb from what was a pretty much open trapdoor to 132
Insane in the Brain..
  • #631,517
  • Oct 17, 2021 2:39am Oct 17, 2021 2:39am
Quoting munchie
{quote} I suddenly to see your thread and seem every one look for the book and I have it here you go .Enjoy to read the book and good luck for trading.{image}
Ho folks,

For your self-respect please buy the book ...

It's not an advertising campaign or anything like that.

Read the first sentence carefully.

God bless you munchie and God bless everyone!
The only impartial feeling is love. It is also the only feeling of God.
  • #631,518
  • Oct 17, 2021 2:39am Oct 17, 2021 2:39am
Quoting nAVIN2007
{quote} Take brexit as an example..is the effect of brexit in the charts? Driver shortage...the effects of these things are coming Fundamentalists hardly make money in trading unless they use TA to guide them
Hi Nav, I'm not sure, I'm not in the UK.
But if fundamentals such as Brexit etc, are "lagging indicators", this means it shows up on the charts before the fundamental data or information becomes known.

Is this what you mean by fundamentals being a lagging indicator?
Compulsions can be hard to resist
  • #631,519
  • Oct 17, 2021 2:44am Oct 17, 2021 2:44am
Quoting nAVIN2007
{quote} Take brexit as an example..is the effect of brexit in the charts? Driver shortage...the effects of these things are coming Fundamentalists hardly make money in trading unless they use TA to guide them
That is simply not true mate. But each to their own. Green pips!
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  • #631,520
  • Oct 17, 2021 3:58am Oct 17, 2021 3:58am
Quoting DailyChart
{quote} Health getting worse since got covid
Get well soon Bud!!!
Don't trade what you think. Just what you see!!!
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