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Cable Update (GBPUSD)

  • #62,561
  • Apr 23, 2008 11:48am Apr 23, 2008 11:48am
Quoting nAVIN2007
i was long but i canceled the trade ...this might be like a falling wedge or flag or whatever, i think the market is relieving itself to make another move down cause by now, nothing to indicate bulls are even fighting.....

what yah guys think? maybe even some diverence showing there...
here ya go now that
Quote
this might be like a falling wedge or flag or whatever
will now be exactly what it is suppose to be for you

excellent site to study from




http://www.tradingpricepatterns.com/cup-and-handle/
Don't chase the market, Let the market come to you
  • #62,562
  • Apr 23, 2008 11:52am Apr 23, 2008 11:52am
Quoting Tmac
here ya go now that will now be exactly what it is suppose to be for you

excellent site to study from




http://www.tradingpricepatterns.com/cup-and-handle/
thx buddy ...that really is a great site!
  • #62,563
  • Apr 23, 2008 12:08pm Apr 23, 2008 12:08pm
Quoting twofeet
interesting post, it seems that no matter whether hold or cut, the price falls regardless..

This held true again today

http://www.forexnewspatterns.com/gbp_mpc.html
  • #62,564
  • Apr 23, 2008 2:00pm Apr 23, 2008 2:00pm
Do I see 15Min charts, impressed nearly there!! 16x's more detail than the 4H crap you lot preach!!!!


1Min 1Min 1Min 1Min 1Min 1Min!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #62,565
  • Apr 23, 2008 2:02pm Apr 23, 2008 2:02pm
maybe some kind of triangle continuation pattern?
and continue moving down.
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  • #62,566
  • Apr 23, 2008 2:05pm Apr 23, 2008 2:05pm
Quoting Turveyd
Do I see 15Min charts, impressed nearly there!! 16x's more detail than the 4H crap you lot preach!!!!


1Min 1Min 1Min 1Min 1Min 1Min!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
what if u enter a trade against the big picture and u get stuck with it.

Lets say u sell to try and catch 15 pips but the big picture 4h or D1 ... u are at the very bottom of the candle. and to make it more exciting u are bouncing back up with hundreds of pips against u.

then u would sit down and regret ever looking at the 1min.
u always have to look at the bigger picture smaller time frames are just to locate a good entry.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #62,567
  • Apr 23, 2008 2:22pm Apr 23, 2008 2:22pm
Quoting salah k.
what if u enter a trade against the big picture and u get stuck with it.

Lets say u sell to try and catch 15 pips but the big picture 4h or D1 ... u are at the very bottom of the candle. and to make it more exciting u are bouncing back up with hundreds of pips against u.

then u would sit down and regret ever looking at the 1min.
u always have to look at the bigger picture smaller time frames are just to locate a good entry.
Salah, okay here we go!!!

A) we all trade the same market, markets can and do reverse on all time frames, difference is I haven't got to wait 4hours for the next magic candle to tell me to exit 200pips later, infact my standard 13pip stop will be right there.

b) I use a 15Min chart aswell, so i can see 24hour, 62ema, and i've got a 20sma H/L/Med channel going on to, trading with the trend is key, do you not read my UP CHANNEL posts don't go short yesterday and possibly today ?? I based on 45mins and 90min trend mainly, secondary 3hour, 6hour, 12hour and 24hour all off 1min charts.

Sorry man, you've had your head filled with crap from traders on here, who've had there heads filled with crap so on and so forth, think how much better you'll do if you actually have some detail to study!!

Pics of todays move, M1 view and LOL H4 view all 2 bars it went over LOL
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Attached Image
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #62,568
  • Apr 23, 2008 2:30pm Apr 23, 2008 2:30pm
Triangle. I think it'll go up to 1.9900
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  • #62,569
  • Apr 23, 2008 2:34pm Apr 23, 2008 2:34pm
LOL
I have to say this currency has been very ugly recently with no clear trend which kinda supports your view .

All this price trashing about makes me think something obvious will happen and no one will be ready for it.


Quoting Turveyd
Salah, okay here we go!!!

A) we all trade the same market, markets can and do reverse on all time frames, difference is I haven't got to wait 4hours for the next magic candle to tell me to exit 200pips later, infact my standard 13pip stop will be right there.

b) I use a 15Min chart aswell, so i can see 24hour, 62ema, and i've got a 20sma H/L/Med channel going on to, trading with the trend is key, do you not read my UP CHANNEL posts don't go short yesterday and possibly today ?? I based on 45mins and 90min trend mainly, secondary 3hour, 6hour, 12hour and 24hour all off 1min charts.

Sorry man, you've had your head filled with crap from traders on here, who've had there heads filled with crap so on and so forth, think how much better you'll do if you actually have some detail to study!!

Pics of todays move, M1 view and LOL H4 view all 2 bars it went over LOL
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #62,570
  • Edited 2:51pm Apr 23, 2008 2:35pm | Edited 2:51pm
Quoting czesio
Triangle. I think it'll go up to 1.9900
the formation is of a flag it will or should likely breakout towards the bottom its a continuatin of trend b4 ....lets see if it plays out ..

see what is happening here is basically what we are in on the daily ...have to wait for it to breakout to get the direction..and the breakout will happen most like next week i reckon ..the lines will make price squeezed....will be interesting to se how it all pans out ..
  • #62,571
  • Apr 23, 2008 2:49pm Apr 23, 2008 2:49pm
Quoting nAVIN2007
the formation is of a flag it will or should likely breakout towards the bottom its a continuatin of trend b4 ....lets see if it plays out ..

see what is happening here is basically what we are in on the daily ...have to wait for it to breakout to get the direction..
Yes but before that it should retrace a few pips. There's a support and daily S1 pivot
  • #62,572
  • Apr 23, 2008 2:58pm Apr 23, 2008 2:58pm
Quoting czesio
Yes but before that it should retrace a few pips. There's a support and daily S1 pivot
agreee but when this formation occurr it generally means it relieves the market condition, so it doesnt need to retrace ..
  • #62,573
  • Apr 23, 2008 3:01pm Apr 23, 2008 3:01pm
Bones, this is a day traders market, always has been to me, why my interest, if you want a buy and hold swing style trading then your better off with stocks, but they you've got to :-

a) have $3000+ really to use 100% margin and allow shorting.
b) Got to study the trend of the Nasdaq say, then trade 66% with, 33% without.
c) Then you've got to find the best 2 bullish and 1 bearish sector ( reverse if nasdaq bearish )

Then you've got to chart all of the stocks in those sectors, looking for bullish stocks in a bullish sector and jump on them and vice versa, so 100's of charts to skip through each day ( why I gave it up ), although a wrote a system that looked for my setups!!

Then you'll make consistent profits and grow the account, the 33% bearish in a upward is to protect again huge bearish market swings, very sensible.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #62,574
  • Apr 23, 2008 3:06pm Apr 23, 2008 3:06pm
Quoting nAVIN2007
agreee but when this formation occurr it generally means it relieves the market condition, so it doesnt need to retrace ..
also sometimes this pattern give false signals and can become a reversal pattern
  • #62,575
  • Apr 23, 2008 3:13pm Apr 23, 2008 3:13pm
Quoting Turveyd
Salah, okay here we go!!!

A) we all trade the same market, markets can and do reverse on all time frames, difference is I haven't got to wait 4hours for the next magic candle to tell me to exit 200pips later, infact my standard 13pip stop will be right there.

b) I use a 15Min chart aswell, so i can see 24hour, 62ema, and i've got a 20sma H/L/Med channel going on to, trading with the trend is key, do you not read my UP CHANNEL posts don't go short yesterday and possibly today ?? I based on 45mins and 90min trend mainly, secondary 3hour, 6hour, 12hour and 24hour all off 1min charts.

Sorry man, you've had your head filled with crap from traders on here, who've had there heads filled with crap so on and so forth, think how much better you'll do if you actually have some detail to study!!

Pics of todays move, M1 view and LOL H4 view all 2 bars it went over LOL

my friend u could right but u know trading 4h is wat we learned in books. thats all and the problem with 1min charts is u have to stay on the screen which is something we cant always do.

but i will try ur system on a demo and if ur right about it then i will drop mine. because after all we are going for the money and being stubborn wont get me anywhere. so i will start tomorrow.
wish me luck.

by the way if i may ask wat percentage of trades were successful with in 1min charts and how long did it take to reach that.
if u dont want to answer i totally understand.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #62,576
  • Apr 23, 2008 3:13pm Apr 23, 2008 3:13pm
Quoting czesio
also sometimes this pattern give false signals and can become a reversal pattern

absolutely everything about trading is discretionary...theres no right or wrong just bad options i guess ....goodluck buddy
  • #62,577
  • Apr 23, 2008 3:21pm Apr 23, 2008 3:21pm
I've been upto 70%+ at times, but still a works in progress here, recently had a slip into bad trading after weeks of slow but not enough profit.

Channel trading, is my new prefered style for these market conditions, I coulda gotten in with a 15pip SL easy trailed it over that 45sma line and made most of that move ( I tried but FXCM died sob Sob )

Been playing it casually for a hobby for 3 1/2 years sadly, how the time flies, only started hammering it 6weeks back maybe ??

I started trading 8years+ ago, i was profitable on stocks before they changed the day trading rules, then profitable on options until I got greedy and huge market swing killed me, never had the money to get back in sadly.

So made the jump to Forex, but slow due to lack of time and funds.


Good luck dude, need any help, just Private Message me!!




So I've been around seen it all, even had a yahoo club with loads of members helping others to master stocks.


I've got 8weeks for my target to be profitable and take $2000 per month out, so 12weeks to take out $2000 EASY He says with $600 ish in there
So sorry no time for conventional thinking, playing it safe, trading ultra small lots bla bla bla!!! Let madness rule!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #62,578
  • Apr 23, 2008 3:40pm Apr 23, 2008 3:40pm
Salah, there is a old says regards your learned in books.

If you can't profit trading, write and sell a book!!!


If there making millions, why write a book ??
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #62,579
  • Apr 23, 2008 4:17pm Apr 23, 2008 4:17pm
Quoting Turveyd
Salah, there is a old says regards your learned in books.

If you can't profit trading, write and sell a book!!!


If there making millions, why write a book ??
There goes our whole education system. I see trading books as an education to learn the basics, a starting point, it just helps learn the lingo, ect. Just like programmers can write books too, and make money, but someone reading it , could make a google.
  • #62,580
  • Apr 23, 2008 4:50pm Apr 23, 2008 4:50pm
I started from scratch, on my own just excel to keep my demo like accounts for practicing before I went live with stocks, I did okay, I did okay live to, then a mate showed me the "Correct" way to trade, using yahoo and I soon fell into bad habits and started losing money real fast, his correct way blew his £20K account and his mom's £50K accounts in no time to.

Most " Correct " ways are they simply to entice the 100K+ players in, after all if you haven't got 100K your under capitalized and you'll blow it in no time ( yeah right ), they quickly lose the 100K there lives as they know it and give up, Funds and the like love them, hence there trying to persaud people with small accounts not to learn on a budget, cause alot of us give them nothing really and eventually end up taking from the pot, which hurts them

So your not mindless zombie's, trading is not hard, so stop making it hard for yourselves and most importantly think for yourselves and don't dismiss anything that differs from the norm, cause the ones that generally has the ability to differ from the norm seem to be the ones who make it big in this game.

Next time, you go I had this candle and therefore it should do this and this, scroll back a bit on the chart, look for that candle and see how many times it actually worked, 50/50 at best. you'll soon see it's meaningless as anything thats not 70%+ accurate isn't worth mentioning.

And even if you find 1 that holds out, give it a few weeks rules will change and they'll reverse there response to it to hurt and demoralise the traders that are using it, we are trading against a smart enemy which pretty much act as a large group, where as we are all on our own with no power over the market, thats why this game is so hard, they depend on taking our money to fund there millionaire city slicker trader life styles, as in general all funds make money year on year the only place the money there taking is coming from is us, don't fall for it.

I know several people who've lost 100K+++ 1 even 500K+his house and they all kept repeating themselves stuck in a loop, because occasionally they got lucky and had a winning trade or 2, normally $100 which some how lets them forget the 100k+ there already down ofcourse they think losing trades are down to bad luck, news flash no such thing as luck, good or bad, just statistical probability s of something happening.


Madness!!!!!!!


Ahhh Coin flip time, HEADS so market should go up, so far this is 2 right, 1 wrong.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
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