Cable Update (GBPUSD)

Quoting Mjmj

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On 4H charts, from the high on 3/14/08 to the present, I see what appears to be a huge descending triangle formation forming? If the current head & shoulder formation continues, that would be three in a row, each smaller than the last..... IF the descending triangle formation continues, wouldn't this indicate a potential Short move to well under 1.9700?

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Quoting nAVIN2007

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i was initailly thinking short but like i never listen to my own advises anything can happen dont try and make predictions...go with price action, im not a fan of indicators but they can help..myteax seems to me, like u knows what he is doing even though never seems to explain himself but has a lot of confidence for the long....i starting to understand why he is long and confident but i wont place a trade unless im sure....but i think im myself gonna adopt his style as i think this way i can be successfull

see chart attached..

we hit the r1 level...divergence kicked in bought us down...but theres plenty of divergence to take us up to...also bounced of the 62 ema, maybe we have a false pin on daily because of friday....it all depends on the open, but the chances of up and every bit as likely as down...this is forex

everything says up except for the pin on daily...thats my problem ..if any1 can add to this analysis that be good..

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Quoting nAVIN2007

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i was initailly thinking short but like i never listen to my own advises anything can happen dont try and make predictions...go with price action, im not a fan of indicators but they can help..myteax seems to me, like u knows what he is doing even though never seems to explain himself but has a lot of confidence for the long....i starting to understand why he is long and confident but i wont place a trade unless im sure....but i think im myself gonna adopt his style as i think this way i can be successfull

see chart attached..

we hit the r1 level...divergence kicked in bought us down...but theres plenty of divergence to take us up to...also bounced of the 62 ema, maybe we have a false pin on daily because of friday....it all depends on the open, but the chances of up and every bit as likely as down...this is forex

everything says up except for the pin on daily...thats my problem ..if any1 can add to this analysis that be good..

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Quoting bbmac

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This constant agonizing over price direction always amazes me. You simply do not have to know which direction price will move to make money, which is just as well as no one knows. Simply wait for the direction to unfold and trade your set-ups (your edge) up or down, it's not importnat, there will be high probability opportunities to go long and short in either a down or up trend.

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Quoting bbmac

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This constant agonizing over price direction always amazes me. You simply do not have to know which direction price will move to make money, which is just as well as no one knows. Simply wait for the direction to unfold and trade your set-ups (your edge) up or down, it's not importnat, there will be high probability opportunities to go long and short in either a down or up trend.

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Quoting marketwavez

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Gbp/Usd

Wave Structure :

Will 9900 hold as support this week ?........
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Only a Probability ! .............. Not Cast in Stone !
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http://i27.tinypic.com/3479z7c.gif

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Quoting nAVIN2007

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lovely chart....this elliot wave thing i need to learn...

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Quoting nAVIN2007

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lovely chart....this elliot wave thing i need to learn...

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Quoting nAVIN2007

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Success comes to he who is busy to look for it

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Quoting marketwavez

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They key success is education and training ............

Not just any education ,
but more importantly where you get your education .

////////////////////////////////////////////////////////////

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Quoting myteax

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Dont confuse yourself the more.. all those things dont work all the time... they only work 30% of the time under normal market conditions

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Quoting bbmac

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to the upside its 0192 and 0397 and downside 9720/40 area, these are the areas that need to break before next daily trend direction is really known

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Quoting nAVIN2007

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actually ...firstly u cant predict the market using the word "evidence" suggest u can, 2nd if u could ud be rich already and 3rd ..looking is not the same as doing, be a doer rather than a thinker and u might actually understand ...

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Quoting marketwavez

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I am Doer , buddy .............

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There is always , a foundation in price-action ..........
So , it all comes down to interpretation

that's why we have great forums like this
as a place to exchange our various thoughts and Ideas
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No-one can be right on every call ,,,,,,,,,,,,,
( but do you really need to to be right on every call to be successful ? )

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In the end
Trading is all about your Averages over time ..........

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