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Cable Update (GBPUSD)

  • #814,201
  • Mar 6, 2024 12:17am Mar 6, 2024 12:17am
Quoting mallee
{quote} I can hear Twee sighing, shaking his head, and muttering "Fxxking children."
I hate to disappoint you. Twee sells advertising on these forum pages. Page hits = more advertising revenue. Childish rants = more page hits. Why do you think he allows as much garbage as he does on the forum? This could easily be cleaned up!
  • #814,202
  • Mar 6, 2024 12:19am Mar 6, 2024 12:19am
Quoting DrDave
{quote} So you are saying that we should read these formations before they happen? That's the first time i am hearing it. And it makes sense to me actually If ALL of the bars that comprise a pattern have not formed, then that is a POTENTIAL pattern, not an actual pattern. Take Elliott waves, for potential versus actual pattern example. You see an swing A, a swing B, and before it has complete swing C, you THINK you are seeing swing C , producing a simple ABC correction and trade accordingly. But OOPS! It was not a C in a 3-swing correction after...
Of what use are patterns if you have to wait them out? One has to trade potential patterns if one is to trade on patterns alone.
It's traders job to figure out which pattern is most likely to be formed based on the info one has at the time.
  • #814,203
  • Mar 6, 2024 12:23am Mar 6, 2024 12:23am
Quoting dantpm
{quote} When it comes to Bitcoin, I believe that most people, analysts and traders are simply blowing smoke! What is known: how many coins were issued, programmers are getting paid for solving verification equations related to ownership and the current market price. What is not known: how many coins are accessible, who holds the outstanding coins or the distribution of ownership. If the price rises is it because of funds flowing into bitcoin, accumulation by current coin holders or is it because of scarcity of supply or some combination of these?...
Bitcoin itself is a straight up buy due to scarcity and the interest in trading it.
The idea put forward by some that it will somehow overturn the establishment, is a dream sold by the tulip growers.
Compulsions can be hard to resist
  • #814,204
  • Mar 6, 2024 12:24am Mar 6, 2024 12:24am
Quoting Jolita
Investors cashing out today from US stock to BTC, down 8% from:the highs. Let's see if Gold and GU will react. Always amazed by he volume of capital flow
Stocks went down yesterday as well. I figure it's just a fear of what Powell might say or not. For BitCoin, I have no clue... never did. Didn't get the memo... Even if it was worth 10M USD I'd still wouldn't bother to learn how it works. Closed my mind for crypto!
  • #814,205
  • Mar 6, 2024 12:26am Mar 6, 2024 12:26am
Quoting Whatevs
{quote} Of what use are patterns if you have to wait them out? One has to trade potential patterns if one is to trade on patterns alone. It's traders job to figure out which pattern is most likely to be formed based on the info one has at the time.
Pattern completions are potential reversal signals.
On completion of a bearish bat or butterfly pattern for example, that occurs at strong support, can be put on your watch list.
If price action then indicates that buyers are coming in, then we can join them.
The classic patterns are simply the product of fib extensions well known to most traders.
Compulsions can be hard to resist
  • #814,206
  • Mar 6, 2024 12:33am Mar 6, 2024 12:33am
Quoting Whatevs
{quote} When do you enter long or short? Do you wait for M5 to start trending up, or M15 or H4 perhaps?
It all depends on which TF the retracement has reached as the retracements progress upward through the TFs. It's that simple. (But I typically filter by ATR as well.)
Go look at the chart from May, 2020 in this post. You can see an example there. (It is not important to know the TF because the fractal nature of financial time series means that the same patterns occur on every TF.)
To free Gazans of Hamas, use whatever it takes.
  • #814,207
  • Mar 6, 2024 12:39am Mar 6, 2024 12:39am
2750 is a major junction between bears and bulls.
A clear breach this week, will likely open the flood gates
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Compulsions can be hard to resist
  • #814,208
  • Mar 6, 2024 12:39am Mar 6, 2024 12:39am
Quoting Whatevs
{quote} Of what use are patterns if you have to wait them out? One has to trade potential patterns if one is to trade on patterns alone. It's traders job to figure out which pattern is most likely to be formed based on the info one has at the time.
I disagree. I use the "retracement in a trend" pattern. I wait for the retracement to END (playout), and then enter as price continues in the trend direction.
To free Gazans of Hamas, use whatever it takes.
  • #814,209
  • Mar 6, 2024 12:42am Mar 6, 2024 12:42am
Quoting trumps
{quote} Bitcoin itself is a straight up buy due to scarcity and the interest in trading it. The idea put forward by some that it will somehow overturn the establishment, is a dream sold by the tulip growers.
BitCoin failed miserably in its purpose. Yeah it's 70k and will be worth even more, but that one thing of why BitCoin was created was flushed down the toilet.
We people just cannot stand for anything anymore.
  • #814,210
  • Mar 6, 2024 12:43am Mar 6, 2024 12:43am
Quoting DrDave
{quote} I disagree. I use the "retracement in a trend" pattern. I wait for the retracement to END (playout), and then enter as price continues in the trend direction.
The purpose of patterns and their value in trading can be easily misunderstood.
Compulsions can be hard to resist
  • #814,211
  • Mar 6, 2024 12:44am Mar 6, 2024 12:44am
Quoting mallee
{quote} I can hear Twee sighing, shaking his head, and muttering "Fxxking children."
more like " rubbing his hands" not twee personally but FF, if FF were that bothered close the thread down, maybe close a thread down when the orginal thread starter doesn't post anymore, just an idea...
  • #814,212
  • Mar 6, 2024 12:45am Mar 6, 2024 12:45am
Quoting DrDave
{quote} It all depends on which TF the retracement has reached as the retracements progress upward through the TFs. It's that simple. (But I typically filter by ATR as well.) Go look at the chart from May, 2020 in this post. You can see an example there. (It is not important to know the TF because the fractal nature of financial time series means that the same patterns occur on every TF.)
Okay, let's say MN, W1, D1 and H4 are in an up-trend. Lower TF's start trending down... so, you wait to enter long once M1 starts trending up again or perhaps you wait for M5 to also start trending up and then you go long, right?
  • #814,213
  • Mar 6, 2024 12:47am Mar 6, 2024 12:47am
Taking profits of long first.

Will monitor London session later.
Kinda busy with work now.
Exhausted
  • #814,214
  • Mar 6, 2024 12:47am Mar 6, 2024 12:47am
Quoting Whatevs
{quote} BitCoin failed miserably in its purpose. Yeah it's 70k and will be worth even more, but that one thing of why BitCoin was created was flushed down the toilet. We people just cannot stand for anything anymore.
I am reminded of all the anarchy movies that came out in the 70's and 80's. So simplistic and romantic.
Oh if life was only so simple.

What anarchists may not understand, is that disorder, eventually, only creates a more fervent environment for order again.
Totally delusional.
Compulsions can be hard to resist
  • #814,215
  • Mar 6, 2024 12:56am Mar 6, 2024 12:56am
Quoting Waveskierrob
{quote} more like " rubbing his hands" not twee personally but FF, if FF were that bothered close the thread down, maybe close a thread down when the orginal thread starter doesn't post anymore, just an idea...
He could also create a forum cop role instead he relies on his seniority police concept. Seniority police works until the senior members are the source of the drama.
  • #814,216
  • Edited 1:30am Mar 6, 2024 1:07am | Edited 1:30am
Quoting Whatevs
{quote} Okay, let's say MN, W1, D1 and H4 are in an up-trend. Lower TF's start trending down... so, you wait to enter long once M1 starts trending up again or perhaps you wait for M5 to also start trending up and then you go long, right?
Not exactly. I wait for m1 to begin a pullback. While that is progressing, I look at m2, m4, etc to see if this pullback of m1 continues far enough to engage an even higher TF. If it does, then the highest TF that the pullback reaches becomes my entry TF. However, if the m1 pullback ends before a higher TF joins the pullback, then of course m1 is the entry TF.


You can see this on the chart that I referenced in the earlier post: In a downtrend, "M256 went up, but not M512". So clearly, M256 is the entry TF for the continuation sell. And then, "M128 then M256 down on this move. Sell M256. . ." Note that there was NOT selling on M128, M64, or on any other TF below the highest rally TF, the M256!
To free Gazans of Hamas, use whatever it takes.
  • #814,217
  • Mar 6, 2024 1:07am Mar 6, 2024 1:07am
Quoting dantpm
{quote} He could also create a forum cop role instead he relies on his seniority police concept. Seniority police works until the senior members are the source of the drama.
Everyone just start your own thread, folks that like you will follow you and post, those that don't won't, as soon as the the drama stops on this thread you'll see the amount of watchers go down, I could be wrong of course, even though my other half says " I'm always right" thinking about it now she does say it with a sarcastic tone...
  • #814,218
  • Mar 6, 2024 1:08am Mar 6, 2024 1:08am
I am shorting the gj today
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yes yes yes
  • #814,219
  • Mar 6, 2024 1:10am Mar 6, 2024 1:10am
Some news for JPY?
  • #814,220
  • Mar 6, 2024 1:12am Mar 6, 2024 1:12am
Quoting dantpm
{quote} He could also create a forum cop role instead he relies on his seniority police concept. Seniority police works until the senior members are the source of the drama.
Senior members usually are the source of drama because they have learned that they can get away with it with little or no consequences whereas newer members get Membership Revoked. The seniors draw traffic that new members don't, so there is no revenue stream lost by eliminating a new member.

As I've said many times, it's all about the mouse clicks.
To free Gazans of Hamas, use whatever it takes.
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