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Cable Update (GBPUSD)

  • #66,481
  • May 16, 2008 2:11pm May 16, 2008 2:11pm
Quoting BANDA
Carrera- Thank you for the charts buddy they are so good. gracias !

the best charist in the whole of FF ...LOVE HIS CHARTS
  • #66,482
  • May 16, 2008 2:11pm May 16, 2008 2:11pm
hey Camera.. just wanted to ask
what charting software you are using?
thank u
Fay All Time Return: -98.7%
  • #66,483
  • May 16, 2008 2:20pm May 16, 2008 2:20pm
Quoting Turveyd
Easy with highnsight, real time there is NO WAY on earth you'd of spotted that up move before the event, which coulda went the other way and yes you got it you coulda spotted that move in your chart to.

Higher TF's show the same picture as lower TF's just with MUCH less detail, its the detail which gives the game away.

Although you'll notice my up day today was correct and my target posted the day before was hit LOL Doing it all on a M1 chart to, amazing

Its not the TF you use anyway as thats irrelevant its the longer your in a trade the higher the odds of randomness / trend changing.
weekly confirm bullish move up ...daily has a bullish pin also ..confluence
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  • #66,484
  • May 16, 2008 2:34pm May 16, 2008 2:34pm
Navin, this weekly chart you are showing has completed a very beautiful head-and-shoulders pattern... It should result in a nice clean break down. Therefore, I expect a very modest retrace no more than 50-100 pips up followed by a break. Yen is looking to strengthen again, so GBP/JPY will be very volatile next week.
If you zoom out on the weekly you can see that 1.95 is a very strong historical level. So, it might need a powerful structure like this head-and-shoulders to yield the way.
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"Luxury is one of the basic needs", (c), Don Corleone
  • #66,485
  • May 16, 2008 2:40pm May 16, 2008 2:40pm
Quoting Firstboss
Navin, this weekly chart you are showing has completed a very beautiful head-and-shoulders pattern... It should result in a nice clean break down. Therefore, I expect a very modest retrace no more than 50-100 pips up followed by a break. Yen is looking to strengthen again, so GBP/JPY will be very volatile next week.
If you zoom out on the weekly you can see that 1.95 is a very strong historical level. So, it might need a powerful structure like this head-and-shoulders to yield the way.
thats a very interesting point....thanks for pointing it out..well spoted ..
  • #66,486
  • Edited 2:55pm May 16, 2008 2:44pm | Edited 2:55pm
Quoting nAVIN2007
weekly confirm bullish move up ...daily has a bullish pin also ..confluence
The week has just come to an end or will come to end by Sunday NY 23:00PM. How can it be showing bullish?

Actually, weekly is still down and monthly is still down. Daily is pointing down as at now. It will need to break above 9640 before bullish stand,

4hrly activities = Add up to make daily cycle
Daily activities = Adds up to make weekly cycle
Weekly activities= Adds up to make Monthly cycle
Monthly activities = Adds up to yearly cycle.

Depending on the closing of business when market resume on Sunday evening, expect the wave to move back 9360 area.

You see candle sticks are very inefficient in showing market waves, rise and fall as it happens.

What happened today is that market is at the edge of weekly, monthly and yearly cycle at the same time.....dangerous. At this point anything can happen it can flip over and the year will turn bearish, unless it moved above 9640 and then 2.0108, so we maybe in for some real rise and fall again in the coming week.

I think Fistboss posted a similar view before me - cheers all
  • #66,487
  • May 16, 2008 2:57pm May 16, 2008 2:57pm
Quoting fxbroker
The week has just come to an end or will come to end by Sunday NY 23:00PM. How can it be showing bullish?

Actually, weekly is still down and monthly is still down. Daily is pointing down as at now. It will need to break above 9640 before bullish stand,

4hrly activities = Add up to make daily cycle
Daily activities = Adds up to make weekly cycle
Weekly activities= Adds up to make Monthly cycle
Monthly activities = Adds up to yearly cycle.

Depending on the closing of business when market resume in Sunday evening, expect the wave to move back 9360 area.

You see candle sticks are very inefficient in showing market waves, rise and fall as it happens.

What happened today is that market is the edge of weekly, monthly and yearly cycle at the same time.....dangerous. At this point anything can happen it can flip over and the year will turn bearish, unless it moved above 9640 and then 2.0108, so we maybe in for some real rise and fall again in the coming week.
i see what u mean ..cant say till sunday ..
  • #66,488
  • May 16, 2008 3:22pm May 16, 2008 3:22pm
Ok I did say 1.9597 was first stop on my chart yesterday and that is what held price.
Im now looking at my weekly and seeing bullish signal candle like Nav
Im also looking at that falling TL and thinking test.
My chart from yesterday attached.





Quoting Bones
To me looking around at other pairs the Forex market seems to be channelling or ranging right now so if that is true of us we are at the bottom with least resistance up.
The Dollar seems to be at a fair price within these ranges.
We just need a trigger, I would look to 9600 then 9730
I know its contrarian but if price retraces today’s bar buy.

Unless your already in.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #66,489
  • May 16, 2008 3:38pm May 16, 2008 3:38pm
Quoting BANDA
Carrera- Thank you for the charts buddy they are so good. gracias !
Por nada bro.
  • #66,490
  • May 16, 2008 3:43pm May 16, 2008 3:43pm
Quoting fayz0r
hey Camera.. just wanted to ask
what charting software you are using?
thank u
I will PM you, I guess is agains the rules say it here.
  • #66,491
  • May 16, 2008 3:45pm May 16, 2008 3:45pm
Quoting nAVIN2007
the best charist in the whole of FF ...LOVE HIS CHARTS
Thank you.
  • #66,492
  • May 16, 2008 3:59pm May 16, 2008 3:59pm
Quoting nAVIN2007
weekly confirm bullish move up ...daily has a bullish pin also ..confluence
But your not realising, yes Bullish Pins bla bla bla bla bla get lucky and come out right occasionally, but nothing more, there is NOTHING in them, it's in the DETAIL not.

1Month charts are ludicrous, although I did post resistance around this area, but resistance is secondary to trend, trend is key, resistance is secondary.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #66,493
  • May 16, 2008 4:29pm May 16, 2008 4:29pm
Luck check out the recent history

I have learnt not take any old pin or any old price action set up
But take the ones that jump out of your chart. (the first one is a DBHLC)
Now I have been new to this myself and at times had difficulty believing but…
How can you argue it????
Quoting Turveyd
But your not realising, yes Bullish Pins bla bla bla bla bla get lucky and come out right occasionally, but nothing more, there is NOTHING in them, it's in the DETAIL not.

1Month charts are ludicrous, although I did post resistance around this area, but resistance is secondary to trend, trend is key, resistance is secondary.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #66,494
  • May 16, 2008 4:38pm May 16, 2008 4:38pm
My advice to you would be spend some time over with J16 and friends
He rules.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #66,495
  • May 16, 2008 4:40pm May 16, 2008 4:40pm
read this link. makes interesting reading and maybe some of the more technically astute on here can look at the charts and see if they agree. Could be a bumper time to get into the GBP.

http://www.dailyfx.com/story/tophead...954387951.html
  • #66,496
  • May 16, 2008 4:52pm May 16, 2008 4:52pm
yep those pins definately work ...i myself doubt them at time and consistly end up eating humble pie.....tone great chart buddy i like the way yur thinking both long and short are possible and not taking chances

where u been man ...im sure i aint the only one missing yur posts ..
  • #66,497
  • May 16, 2008 5:09pm May 16, 2008 5:09pm
Gonna leave work now.....See u guys Sunday...take care.
  • #66,498
  • May 16, 2008 5:15pm May 16, 2008 5:15pm
Quoting nAVIN2007
yep those pins definately work ...i myself doubt them at time and consistly end up eating humble pie.....tone great chart buddy i like the way yur thinking both long and short are possible and not taking chances

where u been man ...im sure i aint the only one missing yur posts ..
Thanks Nav ,I have been keeping up with thread but spending much more time studying as I said to you im posting way too much and not learning ,lol
When you closed your long I wanted to say I was confident this time but of course I could be wrong mate. You held that long through thick and thin and I really wish you held it then as I thought it would be good.
Im seeing price moving in a 200-300 range with no real direction on a lot of dollar pairs and think we have a fair value right now without any additional fundamentals’.
You know that daily pin we had last week did not look good as I said more indecisive but this one I was confident on.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #66,499
  • May 16, 2008 5:19pm May 16, 2008 5:19pm
On the Swissy thing we were talking about this morning I notice the Dollar is not looking as strong generally as you can see from the change from the chart I posted this morning.
We have a break down on it.

Quoting Bones
I believe the swissy is a great guide to dollar strength in general, If swissy is down cable is up.

Or visa versa
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #66,500
  • May 16, 2008 5:22pm May 16, 2008 5:22pm
Quoting Bones
Luck check out the recent history

I have learnt not take any old pin or any old price action set up
But take the ones that jump out of your chart. (the first one is a DBHLC)
Now I have been new to this myself and at times had difficulty believing but…
How can you argue it????

That looks great, but go colour in all the pins that LIED and cost you following that, there are twice as many that lied that told the truth and there only visible after fact.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
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