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Cable Update (GBPUSD)

  • #47,381
  • Dec 28, 2007 9:24am Dec 28, 2007 9:24am
Quoting MrFuture
r u kidding me, for a slow week like this, it moved pretty well
u r correct! thanx for reminding me, totally forgotten. everyday is the same, i don't have any special day to celebrate.. i just do forex!!
please forgive me my soul for not enjoying this life.. c u all next week hopefully,
  • #47,382
  • Dec 28, 2007 9:35am Dec 28, 2007 9:35am
Quoting Carrera
1.9900 to 1.9885 area to go long then.
Cable is not moving according to the news yet.
Let's see the next canddle 4h TF.
you should have give your thoughts and post here on the thread
your post have quality - great to see you that
  • #47,383
  • Dec 28, 2007 9:37am Dec 28, 2007 9:37am
Quoting Designer1
you should have give your thoughts and post here on the thread
your post have quality - great to see you that
Tx
  • #47,384
  • Dec 28, 2007 9:39am Dec 28, 2007 9:39am
Could someone please help me?

I'm looking to find out whether these last 50 pips up is being seen as a corrective move from a downtrend, or a part of a larger move up?

Much obliged.
  • #47,385
  • Dec 28, 2007 9:46am Dec 28, 2007 9:46am
Quoting fx-SOS
Could someone please help me?

I'm looking to find out whether these last 50 pips up is being seen as a corrective move from a downtrend, or a part of a larger move up?

Much obliged.
Nobody knows for sure, man...it's your call
  • #47,386
  • Dec 28, 2007 9:59am Dec 28, 2007 9:59am
Quoting fx-SOS
Could someone please help me?

I'm looking to find out whether these last 50 pips up is being seen as a corrective move from a downtrend, or a part of a larger move up?

Much obliged.
It was a little news bounce.

I'm already done.

It's Friday, the last one of the year, news is done for today. Price will probably drift the rest of the day. I'd say downward, but I'm not putting any money on it.

The easy short entry was the spike up to 2.0020, there were so many signals that price would go the other way.
  • #47,387
  • Dec 28, 2007 10:01am Dec 28, 2007 10:01am
Just to give you an idea of how bad this latest US news is....:


"The Commerce Department today reported that last month's new home sales were down 9 pct to a seasonally-adjusted annual rate of 647,000 units, the lowest sales rate since 621,000 in April 1995."

"Lunch ? Lunch Is For Wimps !"
  • #47,388
  • Dec 28, 2007 10:01am Dec 28, 2007 10:01am
Quoting fx-SOS
Could someone please help me?

I'm looking to find out whether these last 50 pips up is being seen as a corrective move from a downtrend, or a part of a larger move up?

Much obliged.
Wait for next canddle 4h TF.
See chart @ 5M TF bellow.
If the price doesn't move above EMA 50 or 100, then a retrasement for a few pips.
Attached Image (click to enlarge)
Click to Enlarge Name: GBP-USD DIC.28-2007 3.png Size: 122 KB
  • #47,389
  • Dec 28, 2007 10:14am Dec 28, 2007 10:14am
I am out...even though I see it going up, I expect low volatility now considering it is a Friday, we are close to New Year holidays and most people are probably already gone from their offices.

I'll check how it opens Sunday and then take a decision from there, even though it is probably safer to wait for the holidays to go away, therefore Wednesday....

Have a nice weekend...
"Lunch ? Lunch Is For Wimps !"
  • #47,390
  • Dec 28, 2007 10:20am Dec 28, 2007 10:20am
Quoting Designer1
i am not doing trades from years i just in from 4 to 5 months
and this is time period is huge learning things


so today good learn i have nt seen partial declien point

my call is it will HUGE movement for Upside but for that

i am still stick with that but i have not checked its little more down
before go up -- should be 9888 target and then move up
don't listen to them designer, keep the good work, I am with you
  • #47,391
  • Dec 28, 2007 11:27am Dec 28, 2007 11:27am
I'm sorry - I don't flame often, but Designer1 is an idiot. On a related note - did I not call for this fall to happen 5 hours ago? I own you.
  • #47,392
  • Edited 12:11pm Dec 28, 2007 12:10pm | Edited 12:11pm
Quoting Subdude
I'm sorry - I don't flame often, but Designer1 is an idiot. On a related note - did I not call for this fall to happen 5 hours ago? I own you.
If that is the case, I called for this fall over two months ago. I said that I saw cable trading around 1.97xx and even low as 1.88xx, that means, I own everyone.:

FYI

Still short from 2.1085
Humble Lifetime Member
  • #47,393
  • Dec 28, 2007 12:14pm Dec 28, 2007 12:14pm
Quoting Subdude
I'm sorry - I don't flame often, but Designer1 is an idiot. On a related note - did I not call for this fall to happen 5 hours ago? I own you.
yes, but this guy from india tries very hard, he makes his own analysis and spend hours in front of his computer, ...when someone tells something that you think is wrong, just try to explain him your view, in polite manner. This guy I know tries very hard and surely he makes mistakes, it is part of trading
  • #47,394
  • Dec 28, 2007 12:19pm Dec 28, 2007 12:19pm
So what's the point here?
We get in here to say someone an idiot???
Who can tell me that you never analysed wrong, or said wrong, or did st wrong????

So please be polite and make sure that you did the right thing before posting any on this forum.
Thanks.
Still watching.
  • #47,395
  • Dec 28, 2007 12:25pm Dec 28, 2007 12:25pm
I wake up to find my short +50 pips...

Just like I predicted...


*closes out trade and goes back to sleep
  • #47,396
  • Dec 28, 2007 12:40pm Dec 28, 2007 12:40pm
Patern is on the way to nice reversal.

Basic 5-0 Requirements


Although the pattern incorporates 5 points within the structure (X, A, B, C, D), the starting point of the structure (0) can be the beginning of any extended price move. However, the initial point X must possess a specific alignment with respect to the A and B point. The X, A , B formation of the structure is usually some type of impulse move. The XA projection that defines the B point can not exceed a 1.618. Any extension greater than a 1.618 will negate the structure, as smaller impulse moves are preferred. Again, this is the failed wave 3 or wave 5 – in Elliott Wave terms – that establishes the rest of the structure.
The BC leg is the longest price length of the structure and must be at least a 1.618 extension of the AB length but it must not exceed 2.24. This tight range of 1.618-2.24 is a defining element of the structure. If the 1.618 minimum limit is not reached, the structure is not a valid 5-0.

After the BC leg has reversed from that zone, the 50% retracement is measured from the B point to the C point. In addition, the Reciprocal AB=CD is projected from the C point (an equivalent length of the AB leg) to compliment the Potential Reversal Zone (PRZ). The following illustrations and examples will clearly explain these concepts.

The Reciprocal AB=CDs within the specific 5-0 structure are quite effective in defining a precise area for a potential reversal. Although the 50% retracement is the most important number at the pattern completion point, it is still essential to examine the entire range.

Let's see
Attached Image (click to enlarge)
Click to Enlarge Name: GBP-USD DIC.28-2007 UP DATE.png Size: 93 KB
  • #47,397
  • Dec 28, 2007 12:56pm Dec 28, 2007 12:56pm
Quoting Subdude
I'm sorry - I don't flame often, but Designer1 is an idiot. On a related note - did I not call for this fall to happen 5 hours ago? I own you.
  • #47,398
  • Dec 28, 2007 1:07pm Dec 28, 2007 1:07pm
Quoting forexguru
yes, but this guy from india tries very hard, he makes his own analysis and spend hours in front of his computer, ...when someone tells something that you think is wrong, just try to explain him your view, in polite manner. This guy I know tries very hard and surely he makes mistakes, it is part of trading
Saying "it should go UP - just wait few time" and throwing in a couple of off the wall price targets is NOT analysis - it's pure speculation. A five year old could do better.
  • #47,399
  • Dec 28, 2007 3:39pm Dec 28, 2007 3:39pm
Quoting Subdude
Saying "it should go UP - just wait few time" and throwing in a couple of off the wall price targets is NOT analysis - it's pure speculation. A five year old could do better.

Any five year old reading this thread will know that Designer1 is just a 5month older trader who after taking few successful calls from QS now thinks he can also give out calls. He said this himself somewhere on this thread. Read before you leap. Understand calls before you take it. Calls cannot replace your own knowledge and understanding of the market.

What happens is simply what will happen to any five year old child who refuses to go to school but hang around court rooms (trading rooms) and think he can become a lawyer (trader).

This is a lesson. If you think you can take calls without learning, why complaining?
  • #47,400
  • Dec 28, 2007 3:42pm Dec 28, 2007 3:42pm
While you guys are wasting time talking pure bullcrap, GBPUSD is quietly going back up.....
"Lunch ? Lunch Is For Wimps !"
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