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Cable Update (GBPUSD)

  • #13,881
  • May 29, 2007 11:37am May 29, 2007 11:37am
Quoting moneda
Let me make sure that I mention that there is a minority whose contributions are based on probabilities, focusing more on following price action instead of leading it
who the hell can lead price action??? Not even central banks!

anyone that doesn't trade REACTING to price action and basing its trading on probabilities doesn't last 2 days in this market
  • #13,882
  • May 29, 2007 11:43am May 29, 2007 11:43am
Quoting moneda
Hello,

I have been reading this thread for months for which I am grateful to all of the contributors. Amongst all of the regulars, which would you say has the most accurate predictive powers? We all know that predicting what price is going to do get us in trouble more than we are willing to admit yet most of us can not help looking at our crystal ball. So, why not give your opinion on this also? We might as well inform everyone, especially new readers of this thread who is the Nostradamus of this thread? Let me make sure that I mention that there is a minority whose contributions are based on probabilities, focusing more on following price action instead of leading it.

Couldn't say for sure, I know there's quite a few with very good accuracy, but no ones right all the time. Best bet is to do what Camisa stated and react to price action for the highest probability of success.
  • #13,883
  • May 29, 2007 11:52am May 29, 2007 11:52am
Quoting shadeslay
and US market lunch time (rarely picks up after that). Dang stock traders alway taking 1/2 days.
very true indeed. Hardly you can notice price action. Perhaps their stomach are fulls with extra calories burgers.
  • #13,884
  • May 29, 2007 12:00pm May 29, 2007 12:00pm
Whats the most active pair?
  • #13,885
  • May 29, 2007 12:21pm May 29, 2007 12:21pm
Quoting metro
Whats the most active pair?
What do you mean active? Volatily? GBPJPY
  • #13,886
  • May 29, 2007 12:23pm May 29, 2007 12:23pm
Quoting JoZo
What do you mean active? Volatily? GBPJPY
A lot of movement
  • #13,887
  • May 29, 2007 12:27pm May 29, 2007 12:27pm
Quoting JoZo
1.9779 but maybe I'm wrong. What I read here you are the master not me.
I think we are waiting to see a correction complete to maybe 1.9786-61 before heading above 2.0074 on wave 3
“Past performance is not indicative of future results”
  • #13,888
  • May 29, 2007 12:41pm May 29, 2007 12:41pm
Cool everyone on the forum has been a winner again on GBP/USD.
  • #13,889
  • May 29, 2007 12:46pm May 29, 2007 12:46pm
come to poppa bravado cable. below 9800.
BAM BAM BOOM! -bravado
  • #13,890
  • May 29, 2007 12:47pm May 29, 2007 12:47pm
Quoting goonergonebad
I know that the 23.6 fib is next logical support, but 9810 just seems to be extra stubborn.

JMO
If 9800 is broken it looks like 9780 fib and possibly lower.
  • #13,891
  • May 29, 2007 12:50pm May 29, 2007 12:50pm
I think cable shouldn't go lower than 1.9770 (EMA365 4h chart) anyone has similar opinion?
  • #13,892
  • May 29, 2007 12:50pm May 29, 2007 12:50pm
Quoting goonergonebad
If 9800 is broken it looks like 9780 fib and possibly lower.
then why am i going long @ 9790.
am i wrong?
BAM BAM BOOM! -bravado
  • #13,893
  • May 29, 2007 12:53pm May 29, 2007 12:53pm
I reckon we'll see 1.95 by the end of the week.
  • #13,894
  • May 29, 2007 12:58pm May 29, 2007 12:58pm
Quoting gobigo12
I think we are waiting to see a correction complete to maybe 1.9786-61 before heading above 2.0074 on wave 3
I still se cable @2.03

Good luck!
  • #13,895
  • May 29, 2007 12:59pm May 29, 2007 12:59pm
Quoting bravado
then why am i going long @ 9790.
am i wrong?
I think you are right but put tight stop.
  • #13,896
  • May 29, 2007 1:01pm May 29, 2007 1:01pm
Quoting bravado
then why am i going long @ 9790.
am i wrong?
I for one hope not. But, Cable is weird at the moment.....
  • #13,897
  • May 29, 2007 1:02pm May 29, 2007 1:02pm
Quoting JoZo
..put tight stop.
understood.
BAM BAM BOOM! -bravado
  • #13,898
  • May 29, 2007 1:06pm May 29, 2007 1:06pm
I concur market seems all weird now, but I kind of like it.
  • #13,899
  • May 29, 2007 1:06pm May 29, 2007 1:06pm
Quoting bravado
understood.
I'm still thinking what to do. I didn't close my sell order but @1.9790 is a channel line that is a strong support
  • #13,900
  • May 29, 2007 1:10pm May 29, 2007 1:10pm
Quoting Pipbyta
I reckon we'll see 1.95 by the end of the week.
1st long cable @ 9792.

watch for cable going below 9700, then what you said is quite feasible. 1.9500 is not too far away.
BAM BAM BOOM! -bravado
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