Cable Update (GBPUSD) | Page 2418 | 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)

  • #48,341
  • Jan 4, 2008 9:24pm Jan 4, 2008 9:24pm
Quoting Bones
I’ve noticed something rather interesting on my 30 min chart.
When the price peaks and the next bar stops short of that high/low if you draw a trend line from the 2 bottom or tops (depending on type of reversal) price seems to respect them as support and resistance.

Based on it we have a short term reversal to the upside until the blue line is breached.
If price bounces off blue line we have a long until blue line is breached.

Not going to trade this just watch. Something’s got to happen by 11.30 am one way or the other but I would say up first for now.

1.9778 looks a good target for next reversal down
I have been thinking about this post I did earlier , well actually not being able to sleep.

When I posted what amazed me is you seemed to be able predict price movement with very little data on a 30min chart. Just 2 No 30 min bars.

I noticed loads of low risk opportunities on GBP-USD over the past few weeks with a trend line off the first 2 reversal bars on a half hour chart.
Just thought id share the thought

If you use the handles of the trend line and put them on the bottom/top of the 2 reversal candles and have the ray on it plots a line which is respected as support/resistance in some cases for a very long time.

I had my reversal candles by higher highs and lower lows in these 2 bars at very near the bottom of my channel today at 9.30am. In my case I was thinking of a long on the break of my top red line or confirmation of the blue line which had to happen by 11.30am and using fib retracement of last big down move for targets. My stop loss would be below my blue line at first.

My target green No 1 on my chart at 61.8 @1.9778
Not only did it hit target on first move but it went up to Green No 3 78, 6 @1.9798

It hit that78.6 fib exactly to the pip before coming down. Nice low R/R trade but I was just watching.
The price actually finally went to just shy of green No 4 123.6 fib at 1.9852 before crossing the blue line.

Ok it might not have done that but going back to the blue line it was breached but the candle never closed below it .Then the next 3 bars respected it. When the blue line was finally breached with a closed candle I took a short with my stop loss above the blue line. I eventually came out of that trade on the 2nd failure of 1.9710 for profit.
(Took a small 6pip long loss but that’s another story)

When short term trading you do think you should be down there in the 5 min charts to see what’s happening
maybe this is wrong ?
Attached Image (click to enlarge)
Click to Enlarge Name: 30 min trding.gif Size: 18 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #48,342
  • Jan 4, 2008 9:26pm Jan 4, 2008 9:26pm
Quoting Carrera
Originally Posted by jacobtrader http://forexfactory.com/images/buttons/viewpost.gif
It appears GBP/USD will fall in 1-2 weeks time..
Technically Weekly charts are giving signal for it to fall..

Wow, now he is mad.

I'am always like... (click here and see my picture http://forexfactory.com/usercp.php, but dagoods won today at the madmetter .

I will never post something just for posting, so here is an example what dagoods is saying.
I posted this chart on December 30, 2007 (post #8189 )
Now look the result today and I still saying 1.96xx is a nice support area for a bounce but we are not there yet.

If you call any trade, just show your analisis so we all could learn something new or maybe we know and understand your analisis easier and better.Also if any experience trader see anything that could make you losse money, THEY COULD ADVICE you before it happens.
We all are here to learn and give our best analisis for all.
__________________
I don't wanna be pretty, but profitable.
http://forexfactory.com/usercp.php
Pattern recognition and fibos is my way in this jungle.
Carrera, why have you put my links to my signature in your post ?
  • #48,343
  • Jan 4, 2008 9:46pm Jan 4, 2008 9:46pm
Quoting marketwavez
Carrera, why have you put my links to my signature in your post ?
LOL, those are the Subscribed Threads, lol not your links.
  • #48,344
  • Jan 4, 2008 9:52pm Jan 4, 2008 9:52pm
Quoting dagoods

hey MM lol j

ust doing what mike asked and trying to help out on this thread and trying to get it cleaned up a bit

sorry all i'm just tired..... just please keep it clean thanks!

PS how about a chart MM! theres some good people here trying to learn and grat traders like you can help them like you helped me!
with yours, quecee's, fxnovice, m2b's charts i dont need to anymore. i just log on, look at you guys charts, get your analysis then make the trade. i dont even have to work on weekends analyzing my charts anymore! man what a life
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #48,345
  • Jan 4, 2008 10:23pm Jan 4, 2008 10:23pm
Quoting jacobtrader
Weekly Charts give indication that we will see the fall. Its broke the support trend line..

excelent! nice long term trade opportunity.... i'll be with you when she starts down!
  • #48,346
  • Jan 4, 2008 11:10pm Jan 4, 2008 11:10pm
Quoting Bones
I have been thinking about this post I did earlier , well actually not being able to sleep.

When I posted what amazed me is you seemed to be able predict price movement with very little data on a 30min chart. Just 2 No 30 min bars.

I noticed loads of low risk opportunities on GBP-USD over the past few weeks with a trend line off the first 2 reversal bars on a half hour chart.
Just thought id share the thought

If you use the handles of the trend line and put them on the bottom/top of the 2 reversal candles and have the ray on it plots a line which is respected as support/resistance in some cases for a very long time.

I had my reversal candles by higher highs and lower lows in these 2 bars at very near the bottom of my channel today at 9.30am. In my case I was thinking of a long on the break of my top red line or confirmation of the blue line which had to happen by 11.30am and using fib retracement of last big down move for targets. My stop loss would be below my blue line at first.

My target green No 1 on my chart at 61.8 @1.9778
Not only did it hit target on first move but it went up to Green No 3 78, 6 @1.9798

It hit that78.6 fib exactly to the pip before coming down. Nice low R/R trade but I was just watching.
The price actually finally went to just shy of green No 4 123.6 fib at 1.9852 before crossing the blue line.

Ok it might not have done that but going back to the blue line it was breached but the candle never closed below it .Then the next 3 bars respected it. When the blue line was finally breached with a closed candle I took a short with my stop loss above the blue line. I eventually came out of that trade on the 2nd failure of 1.9710 for profit.
(Took a small 6pip long loss but that’s another story)

When short term trading you do think you should be down there in the 5 min charts to see what’s happening
maybe this is wrong ?

5 minute charts are noise IMO.....actually if you notice the better traders dont even bother with anything less than one hour..... some are looking at daily and weekly only...... i personlly like to trade off of 4 hour and 1 hour charts.... but may glance at a 30 once in a while in certain markets.... but always knowing what is going on in the higher timeframes including daily andd weekly and sometimes (i hate when this happens) you need to be mindful of monthly s/r.... so anyway.... sounds like you are seeing some good trading opportunities you might have taken....... glad to see you are studying price! good job! your work will pay off!
  • #48,347
  • Jan 4, 2008 11:12pm Jan 4, 2008 11:12pm
Quoting marketwavez
this was the last chart that I posted in here about 2 weeks ago
Original Post # 46905
http://forexfactory.com/showthread.p...40#post1772740
---------------------------------------------------------
Time for an Update ;

---------------------------------------------------------
{ Double click on chart to enlarge )

great chart~! thanks! got any targets long term? short term? IF she breaks the triple OR if she bounces? i dont like to trade retraces against the trend....but still like to know what other good traders are thinking....
  • #48,348
  • Jan 4, 2008 11:17pm Jan 4, 2008 11:17pm
Quoting jacobtrader
Weekly Charts give indication that we will see the fall. Its broke the support trend line..

just a warning to new guys about your weekly chart... ,... a weeekly chart could take a VERY long time to materialize... in fact price could easily go up and hit the trendline above where it will then be (most likely summarily rejected and pushed WAY down even further....... (WE LIKE THAT!) OR it can go stragiht down.... but usually itt tries to fool us and do lots of stuff in between...thats why we trade top down seeing where she is going monthly weekly daily etc..... anyway good luck everyone!
  • #48,349
  • Jan 4, 2008 11:25pm Jan 4, 2008 11:25pm
[quote=marketwavez;1785753]Hello Da Goods
thanx for your compliment , much appreciated

Here is another look at the US Dollar "aka" ....Usd/Chf

the Usd/Chf pair tracks the same as the US Dollar Index ...........

---------------------------------------------------------------------

Answer this for us please
Can you tell me who among us in here got a Forex education
hanging around in a in a forum ?

What successful trader you think learned from just looking at the
pages of a forum ? Name a few ......if you can

Sure , you can come in and learn a mechanical system and download a
file for your charting software package , but is that the same as getting
a Forex education or more importantly, a charting education ?
( and besides , there so many people in here for fun and laughs )
which is ok ,
- the forum does need a spark of life to keep us all going I guess

-------------------------------------------------------------------
but just Tell the newbies the truth ;

They should be taking classes looking at training videos and reading books

unfortunately , this forum doesn't allow us to post where to tell people where
to go or what books to read ....its one of the rules , but thats ok
--------------------------------------------------------------------
The bottom line is that :
These forums are place to come in and exchange ideas and thoughts
you should come in here expecting to see a different opinion of the
market than what you are thinking is happening and do expect to
pick up a few laughs along the way .............

See chart below ---


another great chart!

can u explain coil? i'm not familiar with harmonic patterns and therfore do not know coil? what is the usual outcome of a coil?
]
  • #48,350
  • Jan 4, 2008 11:35pm Jan 4, 2008 11:35pm
Quoting jacobtrader
Weekly Charts give indication that we will see the fall. Its broke the support trend line..

i agree with you that gu is officially in a major downtrend on weekly ... but there is support nearby.... do you think maybe she will bounce before continuing on her merry way? cn I have a peak your 4 hour chart? \


here is my weekly
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 24 KB
  • #48,351
  • Jan 5, 2008 12:35am Jan 5, 2008 12:35am
Quoting dagoods
5 minute charts are noise IMO.....actually if you notice the better traders dont even bother with anything less than one hour..... some are looking at daily and weekly only...... i personlly like to trade off of 4 hour and 1 hour charts.... but may glance at a 30 once in a while in certain markets.... but always knowing what is going on in the higher timeframes including daily andd weekly and sometimes (i hate when this happens) you need to be mindful of monthly s/r.... so anyway.... sounds like you are seeing some good trading opportunities you might have taken....... glad to see you are studying price! good job! your work will pay off!
Is this true, for even a new trader, trying to build up his capital ?
Just use the H1 and H4 charts ?

Not use the M15, to scalp out as many 'good' trades as you dig up ?

Now, I say this because I just started doing this the middle of December.
First two weeks, turned 5K into 14. GREAT !!!

Well, just this last week, dumped almost 9K. (lots of Long losses on the GY) Kept thinking, 'it can't go lower, support will push it back up to the 5sma, yadda yadda yadda.... as it TANKED.

Frustrating, yes, to say the least. Learn and come back a better trader.

Looking for insight, as I have learned alot from you, Q, FXdaily, Mike, etc...... and really analysis Aus's strategy now, to see what works best for me.

Trying to make this work, as a living now, to stop what I currently do.
thanks,

kj
  • #48,352
  • Jan 5, 2008 12:40am Jan 5, 2008 12:40am
Quoting forexlion
oooooooohhh i am loving it, GU jumped exactly as expected in this chart
http://www.forexfactory.com/showpost...ostcount=48053
i got my long position and my short position exactly as expected.
  • #48,353
  • Jan 5, 2008 12:42am Jan 5, 2008 12:42am
who went long on GU ?
Attached Image
  • #48,354
  • Jan 5, 2008 1:20am Jan 5, 2008 1:20am
[quote=kujo17;1785914]Is this true, for even a new trader, trying to build up his capital ?
Just use the H1 and H4 charts ?

Not use the M15, to scalp out as many 'good' trades as you dig up ?

Now, I say this because I just started doing this the middle of December.
First two weeks, turned 5K into 14. GREAT !!!

Well, just this last week, dumped almost 9K. (lots of Long losses on the GY) Kept thinking, 'it can't go lower, support will push it back up to the 5sma, yadda yadda yadda.... as it TANKED.

Frustrating, yes, to say the least. Learn and come back a better trader.

Looking for insight, as I have learned alot from you, Q, FXdaily, Mike, etc...... and really analysis Aus's strategy now, to see what works best for me.

Trying to make this work, as a living now, to stop what I currently do.
thanks,


well as you know you see q and the other great traders that you mentioned and didnt mention who know who they are...that are there in auslancos thread posting their analysis....those traders are far more experienced and far better than I am...... but one thing i know is that each trader must experiment and practice and find what works for him/her....as you know i like to take a1 trades only... i hate to lose! I would much rather just draw charts and speculate and make dumb jokes than place a bad trade....so for me personally i only go down to 1 hour mostly but there are a million ways to trade so...... you can make it work on lower time frames so long as you have the discipline and great money management..... but if you learn to place trades in certain spots you can place them with small stop losses....and if your trade is placed in a good spot and you are stopped out for -15 pips lets say then you can take the trade the other way for +50 or more.... at least thats what i try to do and sometimes when you are wrong...no big deal....and when you are right its very rewarding that your patience paid off and you didint fiddle around looking for every trade on every little time frame ...but thats just me...... by the way I am(and many others on aus thread use aus system now only as another guide and confirmation of our own system that we developed for our own way of trading....I am a huge tom demark fan bigtime..... took his trendline concepts and made them my own..... vhands is the way to go(skunnys thread) ..... practice like your life depended on it..... thats the only way YOU can do it if you want to.... good luck.....

also, ALL traders take losses its part of the deal..... so long as your wins outweigh your lossess cnsistently and by enough to voer spreads and make profit without risking a lot....then i am all for any system that accomplishes that...... listen to mike w though he keeps harping on it but its true what he says >>>only trade with the trend...... BUT the trend lines up on multiple timeframes only every once in a while.... so less trades and only good trades....so to do this its much easier on 1 hour or higher ....this is best IMO... but find what works for you
  • #48,355
  • Jan 5, 2008 1:34am Jan 5, 2008 1:34am
Quoting Bones
I have been thinking about this post I did earlier , well actually not being able to sleep.

When I posted what amazed me is you seemed to be able predict price movement with very little data on a 30min chart. Just 2 No 30 min bars.

I noticed loads of low risk opportunities on GBP-USD over the past few weeks with a trend line off the first 2 reversal bars on a half hour chart.
Just thought id share the thought

If you use the handles of the trend line and put them on the bottom/top of the 2 reversal candles and have the ray on it plots a line which is respected as support/resistance in some cases for a very long time.

I had my reversal candles by higher highs and lower lows in these 2 bars at very near the bottom of my channel today at 9.30am. In my case I was thinking of a long on the break of my top red line or confirmation of the blue line which had to happen by 11.30am and using fib retracement of last big down move for targets. My stop loss would be below my blue line at first.

My target green No 1 on my chart at 61.8 @1.9778
Not only did it hit target on first move but it went up to Green No 3 78, 6 @1.9798

It hit that78.6 fib exactly to the pip before coming down. Nice low R/R trade but I was just watching.
The price actually finally went to just shy of green No 4 123.6 fib at 1.9852 before crossing the blue line.

Ok it might not have done that but going back to the blue line it was breached but the candle never closed below it .Then the next 3 bars respected it. When the blue line was finally breached with a closed candle I took a short with my stop loss above the blue line. I eventually came out of that trade on the 2nd failure of 1.9710 for profit.
(Took a small 6pip long loss but that’s another story)

When short term trading you do think you should be down there in the 5 min charts to see what’s happening
maybe this is wrong ?

sure sounds like tom demark to me! got a tdtl indicator?
  • #48,356
  • Jan 5, 2008 1:44am Jan 5, 2008 1:44am
would what your talking about look something like this?
Attached Image (click to enlarge)
Click to Enlarge Name: uj 30.gif Size: 19 KB
  • #48,357
  • Jan 5, 2008 1:50am Jan 5, 2008 1:50am
or were you referring to this! trading with the trend off of the trendline on 30 minute chart.....


its so much easier to see on a line chart!
Attached Image (click to enlarge)
Click to Enlarge Name: euchf.gif Size: 18 KB
  • #48,358
  • Jan 5, 2008 2:10am Jan 5, 2008 2:10am
here is final direction i got and it should 100% work

cable can go still 9847 next week upside movement
but once touch the resistance time to go for down and
target should be 9312

here is what i have check with one tool its coming greatly

so for long term i might can wait for 9847 and then go for short

what i have made look at screenshot
Attached Image (click to enlarge)
Click to Enlarge Name: future1.gif Size: 76 KB
  • #48,359
  • Jan 5, 2008 5:07am Jan 5, 2008 5:07am
Quoting dagoods
would what your talking about look something like this?
That is exactly it ,so it is a good practice then ?

I will look into tdtl indicator but Im in melt down from information over load at mo , I ve got a few posts thread recommendations to go over
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #48,360
  • Jan 5, 2008 5:14am Jan 5, 2008 5:14am
here is a 240 chart with 5 top different perspective counts, with first chart being top count.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ScreenHunter_23.gif Size: 57 KB
Click to Enlarge Name: ScreenHunter_24.gif Size: 63 KB
Click to Enlarge Name: ScreenHunter_25.gif Size: 61 KB
"Millionaires don't use astrology, billionaires do"
187 traders viewing now