Cable Update (GBPUSD) | Page 1030 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #20,581
  • Jul 21, 2007 9:06am Jul 21, 2007 9:06am
As has been said a million times: Trading is simple, just not easy.

Most of the threads here are a mixture of newbies and experienced of one level or another. Don't know what happened to the women newbie on the other thread, but reality is the best teacher.

Rudeness and outright flaming is never easy to take. But if someone is trying to learn to trade post by post they will take in a lot of garbage too. Not to mention it takes longer to accomplish. Books, web surfing and if possible a mentor are a better solution. And starting live trading with a $250 micro account and trading SLOWLY. If there are in a rush they will get there fast. Fast to a zero balance. Over and over. Learning with a demo account can help, but only in a limited way. Real money risked is the only true way, even if it is a small amount.
  • #20,582
  • Jul 21, 2007 10:49am Jul 21, 2007 10:49am
Quoting SunTrader
As has been said a million times: Trading is simple, just not easy.

Most of the threads here are a mixture of newbies and experienced of one level or another. Don't know what happened to the women newbie on the other thread, but reality is the best teacher.

Rudeness and outright flaming is never easy to take. But if someone is trying to learn to trade post by post they will take in a lot of garbage too. Not to mention it takes longer to accomplish. Books, web surfing and if possible a mentor are a better solution. And starting live trading with a $250 micro account and trading SLOWLY. If there are in a rush they will get there fast. Fast to a zero balance. Over and over. Learning with a demo account can help, but only in a limited way. Real money risked is the only true way, even if it is a small amount.
Well said SunTrader.......
  • #20,583
  • Edited 12:59pm Jul 21, 2007 12:35pm | Edited 12:59pm
Quoting korn_trader
i am not trading or using EW to enter or get out for my trades but i think elliott wave is a nice and valuable price action tool. Sad it is too vague. the only thing for sure as mentioned by Elliott (the author himself) is that after 5 waves surge or down, there will a 3 corrective waves. about "the rule is that 5 should not be longer than 3 in price movement" ---> from what i know is.. one of the EW rules says that wave 3 could not be the shortest but normally is the longest. so it means that wave 3 not always 100% the longest so there will be other longer wave which certainly will not be the wave 1. just to re-confirm my understanding from the EW Pro.
You are right, but in this case here, 3 is already the extended wave, as it is much bigger than 1, so under EW, 5 should not be longer than 3. In a different case, 5 could be the longest if 3 were not extended. I think EW says that the 2 waves that are not extended should be similar in length. I think under the count that soros presented in the image, 3 would clearly be the extended, so it would be very unlikely for 5 to extend more then 3. This is all under EW, which does not mean it is what is going to happen for sure. Soros brought this up, so I was wondering if he went through the trouble of making the count, what did he see to make him want to end 5 prematurely. I am not saying that his count is right, I just wanted to know the reason, IF ANY, for ending W5 NOW. (The fact that he might have closed his long position too early, is not a rule or guideline in EW, LOL). Even though EW is vague and two persons who know it well could have different counts, wishfull thinking should be avoided. How can Wave A have started if in the last trading day it made a new high?
  • #20,584
  • Jul 21, 2007 12:44pm Jul 21, 2007 12:44pm
Quoting wwwin
You are right, but in this case here, 3 is already the extended wave, as it is much bigger than 1, so under EW, 5 cannot be longer than 3. In a different case, 5 could be the longest if 3 were not extended.
Thanks for the explanation. no malicious intention. like i mentioned before, i dont trade EW method but i found EW is fascinating. so this is just my normal learning process.
........... have nothing to say..........
  • #20,585
  • Jul 21, 2007 2:36pm Jul 21, 2007 2:36pm
Quoting Turtle
Looks like there is no news on the pound or dollar until Wednesday morning's Existing Home Sales and then Thursday with New Home Sales....

The pound could possibly take off with the right combination of fuel....

That would be scary....

Talk about heading into the unknown....which will possibly become the norm...

Makes you wonder????
Who wants a cheap condo in Miami?

http://www.bloomberg.com/apps/news?p...yYA&refer=home
  • #20,586
  • Jul 21, 2007 3:25pm Jul 21, 2007 3:25pm
OK. I want to share some charts with you guys.
The first one is a weekly chart and I posted because you can clearly see:

- The uptrend is clear and solid and
- In this channel cable has enough room to reach 0800.

http://img516.imageshack.us/img516/6...7151751ie0.png

To make things clear, I´m not saying price will go there, a reversal can occur at any time.
Johann Channels and cycles are everything
  • #20,587
  • Jul 21, 2007 3:38pm Jul 21, 2007 3:38pm
In 4H chart we can see how this week Cable abandon the channel of the last 6 weeks and that means to me possible violent moves and longs periods of indecision.

http://img412.imageshack.us/img412/5...7153011hv8.png
Johann Channels and cycles are everything
  • #20,588
  • Jul 21, 2007 3:50pm Jul 21, 2007 3:50pm
And this to show where I think (This just and Idea. Nothing is for sure) will be buyers and sellers.

http://img187.imageshack.us/img187/7...7154813qk6.png
Johann Channels and cycles are everything
  • #20,589
  • Jul 21, 2007 3:53pm Jul 21, 2007 3:53pm
What is the Best way of Seeing the Reversal of cable?
Where do you expect it ?
I think it is gonna be at 2.0595
  • #20,590
  • Jul 21, 2007 4:34pm Jul 21, 2007 4:34pm
i have updated my webpage .. if you guys want to check it out be my guest.
  • #20,591
  • Jul 21, 2007 6:22pm Jul 21, 2007 6:22pm
Gbp/Usd

Hhmm,mmmm? .........
---------------------------------------
Strong showing of support,
- but for how much longer ?
Attached Image (click to enlarge)
Click to Enlarge Name: GBP-07-20-2007-#3.jpg Size: 64 KB
  • #20,592
  • Jul 21, 2007 10:08pm Jul 21, 2007 10:08pm
Thanks to Tragapips...

So next week GU will go up perhaps... to 2.065

n down after that...

any advice? masters?...
  • #20,593
  • Jul 22, 2007 1:00am Jul 22, 2007 1:00am
I'm no master...but the uptrend still looks strong.

We will see how strong, come Wed/Thur.....
  • #20,594
  • Jul 22, 2007 1:02am Jul 22, 2007 1:02am
Quoting wwwin
Who wants a cheap condo in Miami?

http://www.bloomberg.com/apps/news?p...yYA&refer=home
I think I rather have one in California instead...because they are next??
  • #20,595
  • Jul 22, 2007 3:03am Jul 22, 2007 3:03am
cable might reach 2.0600 before getting into wave a...

http://img253.imageshack.us/img253/290/guta7.jpg
  • #20,596
  • Jul 22, 2007 4:09am Jul 22, 2007 4:09am
Quoting soros_junior
cable might reach 2.0600 before getting into wave a...

http://img253.imageshack.us/img253/290/guta7.jpg

nice projection but i will be buying what are going to sell
........... have nothing to say..........
  • #20,597
  • Jul 22, 2007 4:41am Jul 22, 2007 4:41am
These are lovely graphs with much intellectual work in them and very good stuff for very short term traders... I hope to acquire those skills levels one day

As a longer term 'investment', the graph since 2004 says 'just long cable' and go walkabout for a year or two or three, and then come back and pocket the profit.
Does anyone do any 'one year' type analysis, or is that in the province of the fundamental bods and therefore outside the scope of technicals ? and this forum ?
The people who have really done well are the ones who put a huge long on at 1.74 (or actually bought gbp) and have just put their feet up for 3 years and smiled at the screen - looking only at late 2004 versus today.
Of course we have the super expert traders who say that is only 18% or whatever (over and above the interest rate differential which was positive), and is peanuts, and by riding the saw tooth correctly they have made x zillion %

Does anyone on here trade longer term - eg 1 year - and do technicals figure in that ? I had 100% of my net worth in GBP in November 2004 and i am busy selling it all into USD - so longer term perspectives are of huge interest to me as well as trading...figuring the top (not this month's top) at 2.06 , 2.10 , 2.50 or 3.00 is hugely important to me....
  • #20,598
  • Jul 22, 2007 5:18am Jul 22, 2007 5:18am
On cable, I am seeing a range breakout in the direction of the trend (to the upside) on the 4H time frame.
  • #20,599
  • Jul 22, 2007 9:32am Jul 22, 2007 9:32am
Any One Here ???
  • #20,600
  • Jul 22, 2007 9:34am Jul 22, 2007 9:34am
Sure!

Quoting honda250nsr
Any One Here ???
429 traders viewing now, 7 are registered:
RSdecompose
,
CPUmice
,
,
,
Ahsan
,
Bnhassn
,
Waveskierrob