Here's 2 Charts looking ahead of days to come
In general, people can draw all sorts of lines until they show them what they want to see...
- #12,981
- May 18, 2007 12:15am May 18, 2007 12:15am
In general, people can draw all sorts of lines until they show them what they want to see...
It may be a breakout based on that use of trendlines, but this is very subjective. For instance, if you instead draw the upper line starting from the April 23rd peak as opposed to the April 18th peak, you'll see that this is not in fact a breakout, rather it is sitting right at the top of the channel right now at 1.2277.
In general, people can draw all sorts of lines until they show them what they want to see...
Oh right you are there ........... All of trading is subjective
It doesn't matter what you or I think is happening
Someone else is always thinking something else !
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So in the end all we have is Probability !
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That's why forums like this is such a great tool ..............
We all get to share our opinions and ideas...
and then let the nature of the markets take its course . It's all good !
Nothing is Cast in Stone
Nothing is 100% Reliable
This last chart sums up what could be occuring the Gbp/Usd
This is my Humming Bird -
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- Will price keep declining ?
I really don't know .....
I'm just sharing what I think is happening visually !
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Without charts its like the Blind leading the Blind in here .
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These Charts represent Elliott Waves Formations at work as a trading method !
Please excuse the typo ( It should read Gbp/Usd )
This is my Humming Bird -
-----------------------------------------------------------
- Will price keep declining ?
I really don't know .....
I'm just sharing what I think is happening visually !
---------------------------------------------------------------
Without charts its like the Blind leading the Blind in here .
-------------------------------------------------------------------
These Charts represent Elliott Waves Formations at work as a trading method !
Please excuse the typo ( It should read Gbp/Usd )
- #12,990
- May 18, 2007 1:45am May 18, 2007 1:45am
This last chart sums up what could be occuring the Gbp/Usd
This is my Humming Bird -
-----------------------------------------------------------
- Will price keep declining ?
I really don't know .....
I'm just sharing what I think is happening visually !
---------------------------------------------------------------
Without charts its like the Blind leading the Blind in here .
-------------------------------------------------------------------
These Charts represent Elliott Waves Formations at work as a trading method !
Please excuse the typo ( It should read Gbp/Usd )
Nice chart. I used EW before but I don't have confidence on it now. seems you are right. I keep my short term bearish on it. However, I think a small rally on the way soon because the UK retail sales news might support it.
- #12,991
- May 18, 2007 1:46am May 18, 2007 1:46am
- | Joined Oct 2006 | Status: Trader | 1,012 Posts
marketwavez your GBP/USD chart looks different than mine but we have come to the same conclusion! 
Potentially we may see 1.96**'s very soon
We are in a waiting game me thinks. You are right USD/CHF break will be key as well as GBP/JPY and EUR/JPY moving South off major resistance.
Retail sales may come out good for GBP which may give temporary North move but im still bearish. This move will give me another sell entry hopefully near 1.9780.
Potentially we may see 1.96**'s very soon
We are in a waiting game me thinks. You are right USD/CHF break will be key as well as GBP/JPY and EUR/JPY moving South off major resistance.
Retail sales may come out good for GBP which may give temporary North move but im still bearish. This move will give me another sell entry hopefully near 1.9780.
- #12,996
- May 18, 2007 2:21am May 18, 2007 2:21am
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts
Is Oanda predominantly retail? If so, given the 90+% trader failure rate, some people might say smart money's with the shorts....
I'm not there, BTW
- #12,998
- May 18, 2007 2:39am May 18, 2007 2:39am
- | Joined Dec 2006 | Status: rollarse bien | 89 Posts
im no smart money either, had positions from those levels at different times, too volatile to hold too long
retail might be good to look at short term market as supposedly fewer position traders in retail. if there was a real answer wed all be millionaires living on mars
retail might be good to look at short term market as supposedly fewer position traders in retail. if there was a real answer wed all be millionaires living on mars
Smart money is the tiny percentage long at 9500 and short 2050...
I'm not there, BTW
