Cable Update (GBPUSD)

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 nAVIN2007

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great analysis...and absolutely..whenever im wrong (bad trade) i wasnt unlucky just wasnt educated enough..or able to apply the knowledge i already knew, so your 100% correct. when guys such as youreslf post u do so much good. Keep up the good work, its very much appreciated

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Quoting nAVIN2007

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great analysis...and absolutely..whenever im wrong (bad trade) i wasnt unlucky just wasnt educated enough..or able to apply the knowledge i already knew, so your 100% correct. when guys such as youreslf post u do so much good. Keep up the good work, its very much appreciated

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Quoting nAVIN2007

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great analysis...and absolutely..whenever im wrong (bad trade) i wasnt unlucky just wasnt educated enough..or able to apply the knowledge i already knew, so your 100% correct. when guys such as youreslf post u do so much good. Keep up the good work, its very much appreciated

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Quoting salah k.

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seriously bro that is the best detailed analysis posted on this thread so far.
thank you for the much needed info.

one question though
what do u mean by HARAMI?

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Quoting marketwavez

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Harami is a word that is used in Japanese CandleStick Patterns

The Japaneese Language is a Language of Word Pictures
- Harmami , means Pregnant Woman

The Bullish Harami Pattern looks like a " Pregnant Woman "

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there are many traders in this very thread that already follow
candlestick formation patterns that can further explain .....

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Quoting marketwavez

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its not that you are " not educated enough " as you are saying
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The real reason for failure over-all is where you got your education .

Do you really think that I learned all this from reading posts in forums ?
The answer is No !

How many successful traders do you think got their education
from hanging around in forums ? ...................
( I have read many interviews of traders and listened to many success
stories and yet to find one that learned it all in a Public Forum ).

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Forums are Just a place to exchange Thoughts and Ideas
and maybe have a few laughs along the way .........

- The main reason for visiting a forums is to see
ideas other than your own ideas .....................

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Quoting marketwavez

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its not that you are " not educated enough " as you are saying
-------------------------------------------------------------------

The real reason for failure over-all is where you got your education .

Do you really think that I learned all this from reading posts in forums ?
The answer is No !

How many successful traders do you think got their education
from hanging around in forums ? ...................
( I have read many interviews of traders and listened to many success
stories and yet to find one that learned it all in a Public Forum ).

--------------------------------------------------------------------
Forums are Just a place to exchange Thoughts and Ideas

- The main reason for visiting a forums is to see
ideas other than your own ideas .....................

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

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Quoting salah k.

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thnx for the info

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Quoting nAVIN2007

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a harami is a small body on a candle

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Quoting nAVIN2007

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mike that how i see it to, im just thinking is th pin on daily valid because it of a friday...

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Quoting mike w

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Alrighty, check it out ladies and gents, I dont post here that often but this opportunity looks prime for the pickin'. Pull up your monthly charts and you can see a bearish pin bar. That is telling me one thing for this month and that is to sell. Because of that bar I won't buy until proven that we will be heading upwards and it gets negated. Now, on the daily chart you can see that we have a daily pin bar off of an area of resistance. That is confluence. Confluence means everything in this market. The trend, as Marketwaves said, is down for now. Good stuff btw man! Trading with the trend is easy and there is no reason to cut your trade short. Just let it ride out until price action tells you to get out.


Now here's another thing to think about - How similar does this to the move that started on 11-09 2007. Just look at it and it'll pop out at you.
Have a great day everybody and good luck in your trades!
PS How's it goin Bones?

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Quoting Bones

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I would say the thing that makes me question the recent bearish pins is they don’t fit my fundamental views ,lol
I suppose these are newly formed as are my Forex trading

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Quoting mike w

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To me, a daily pin is a daily pin and it holds weight- especially if it has confluence in the mix. To be more conservative in playing this is to wait for the confirmation bar of the pin. That usually adds even more weight to it and from there, I would look to see more downside. It's in line with the trend as well which is perfect.

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