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Cable Update (GBPUSD)

  • #66,501
  • May 16, 2008 5:29pm May 16, 2008 5:29pm
The other thing I have learnt about in the last week is the USDX if you don’t know about it and are trading a dollar pair check it out.
BTW its broke down.
Attached Image (click to enlarge)
Click to Enlarge Name: usdx.gif Size: 21 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #66,502
  • May 16, 2008 5:34pm May 16, 2008 5:34pm
No pin that has "space " and "confluence"
on a daily + time frame has lied.You got to know a good one.That take practise and experiance.
I could show you loads on the higher TF's that have had the correct effect in the last 6 months if you really want.
In fact a pin that has space on any time frame is a high probability trade.

Quoting Turveyd
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.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #66,503
  • May 16, 2008 5:37pm May 16, 2008 5:37pm
Dont bother with PA in traffic.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #66,504
  • May 16, 2008 6:39pm May 16, 2008 6:39pm
Quoting Bones
No pin that has "space " and "confluence"
on a daily + time frame has lied.You got to know a good one.That take practise and experiance.
I could show you loads on the higher TF's that have had the correct effect in the last 6 months if you really want.
In fact a pin that has space on any time frame is a high probability trade.
Only after the fact will you see the ones that work, if I went back 1year found all the similar looking daily pins and setup a up / down questionaire you'd be amazed how often it just doesn't work.

Your trend line was good though, enough people watch those to make those self forfilling.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #66,505
  • May 16, 2008 6:41pm May 16, 2008 6:41pm
Quoting Bones
The other thing I have learnt about in the last week is the USDX if you don’t know about it and are trading a dollar pair check it out.
BTW its broke down.
Although downtrend longer term on your chart, your broken back down based on that other line is abit well weak, sideways comes to mind personally and range bound, much like the GBPUSD's been this week.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #66,506
  • May 16, 2008 6:57pm May 16, 2008 6:57pm
up until 3 weeks ago - i could print money each night by straddling the G/U right before the London open...this last week nothing but whip action stopping out of EVERY single trade....does anyone else on this board trade the asian breakout or straddle the london open?
  • #66,507
  • May 16, 2008 7:00pm May 16, 2008 7:00pm
Quoting Bones
No pin that has "space " and "confluence"
on a daily + time frame has lied.You got to know a good one.That take practise and experiance.
I could show you loads on the higher TF's that have had the correct effect in the last 6 months if you really want.
In fact a pin that has space on any time frame is a high probability trade.
What do you mean by space?
Darkness lies one inch ahead..
  • #66,508
  • May 16, 2008 7:07pm May 16, 2008 7:07pm
Not after the fact at all mate .I was told about them at the time and they paid off, check out the monthly, I suppose you are talking about the green highlighted one that did not pay.
Its in traffic as I said.
You see if you can find me a failed one? To prove your flip of a coin theory


Quoting Turveyd
Only after the fact will you see the ones that work, if I went back 1year found all the similar looking daily pins and setup a up / down questionaire you'd be amazed how often it just doesn't work.

Your trend line was good though, enough people watch those to make those self forfilling.
Attached Image (click to enlarge)
Click to Enlarge Name: montth.gif Size: 36 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #66,509
  • May 16, 2008 7:21pm May 16, 2008 7:21pm
Well space is a nice candle long wick protruding.
I agree the market is moving sideways on a lot of charts.

Attached is USDX




Quoting Turveyd
Although downtrend longer term on your chart, your broken back down based on that other line is abit well weak, sideways comes to mind personally and range bound, much like the GBPUSD's been this week.
Attached Image (click to enlarge)
Click to Enlarge Name: usdx.gif Size: 30 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #66,510
  • Edited May 17, 2008 7:57am May 16, 2008 7:34pm | Edited May 17, 2008 7:57am
Yellow top notch pin
Green forget it.
Magenta is possible after Sunday.
Attached Image (click to enlarge)
Click to Enlarge Name: week.gif Size: 34 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #66,511
  • May 16, 2008 10:37pm May 16, 2008 10:37pm
Quoting Bones
Well space is a nice candle long wick protruding.
I agree the market is moving sideways on a lot of charts.

Attached is USDX
Nice charting Tone, clean and clear as water. Good work.
  • #66,512
  • May 16, 2008 11:18pm May 16, 2008 11:18pm
Quoting Bones
Yellow top notch pin
Green forget it.
Magenta is possible if we get a little fall Sunday.
Whoever even considered green a pin needs to go back to BabyPips.

We won't really know re Magenta until final close next week.
Darkness lies one inch ahead..
  • #66,513
  • May 16, 2008 11:22pm May 16, 2008 11:22pm
Quoting Turveyd
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.
Turveyd. It's always hard for people to understand the point you trying to convey here. Higher Time Frame do not offer better reward than lower time frame, it is the same no pain, no gain that is applicable.

Quoting Turveyd
Only after the fact will you see the ones that work, if I went back 1year found all the similar looking daily pins and setup a up / down questionaire you'd be amazed how often it just doesn't work.

Your trend line was good though, enough people watch those to make those self forfilling.
Any bar or signal spotted on higher frame will suffer as many as the so-called whipsaws or similar faith, they suffered at lower time frames. this is what I called self-similarity in price behaviour.

People only report the successful ones and swallow the pains during those periods signals at higher time frame went against them. Instead of suffering stoplosses of 20-30pips for hourly frame, people may suffer +500pips stoplosses for yearly time frame.

This is what the GBP/USD is doing right now. The bullish sign for this year started at the end of January/Februray but that has been wiped out now and the cycle is going to repeat itself to 2.0290 and anyone who is bearish and not careful will be wiped out too. But time will tell whether next week will make this happen or the year to turn bearish.

This process also happens in lower time frames. Every new day, main players determine whether they will be bullish or not. Similarly every new week, new month, players determine whethter they will be bullish or bearish.
Market cycles are not determined by chart patterns but by human behaviours.
  • #66,514
  • May 17, 2008 2:49am May 17, 2008 2:49am
Quoting Bones
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.
i know what u mean .....i was really confident to, i never hold positions and add to it unless it was the case (went 0.3 lot) on it ..it just took ages to to go up and this made me bottle it..and the more it resisted to go up the i started to think it might break the neckline, so i bailed and to be honest i exited at a loss but what totally screwed me was the other pair like AUD/USD ...it compounded my loss

cable i totally was lost after exiting the trrade now i know better...need to be more patient...can only get better cant i
  • #66,515
  • May 17, 2008 2:49am May 17, 2008 2:49am
wat are u talking about ?????????????
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #66,516
  • May 17, 2008 3:11am May 17, 2008 3:11am
Quoting salah k.
wat are u talking about ?????????????
what yah mean buddy?
  • #66,517
  • May 17, 2008 4:06am May 17, 2008 4:06am
Quoting nAVIN2007
i know what u mean .....i was really confident to, i never hold positions and add to it unless it was the case (went 0.3 lot) on it ..it just took ages to to go up and this made me bottle it..and the more it resisted to go up the i started to think it might break the neckline, so i bailed and to be honest i exited at a loss but what totally screwed me was the other pair like AUD/USD ...it compounded my loss

cable i totally was lost after exiting the trrade now i know better...need to be more patient...can only get better cant i
What did you do with AUD/USD. The pair went up like mad. Were you in short?
Expected the unexpected
  • #66,518
  • May 17, 2008 4:13am May 17, 2008 4:13am
Emotion's And Money Don't Mix. There Are To Many Traders Don't Know What There Doing.
If I Go Broke Trying Then I Will die happy.
  • #66,519
  • May 17, 2008 4:18am May 17, 2008 4:18am
Quoting Moe
Emotion's And Money Don't Mix. There Are To Many Traders Don't Know What There Doing.
about 98% at the last count, shame FF can't link into our accounts to show enable us to better choose who to listen to hey!!!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #66,520
  • May 17, 2008 4:27am May 17, 2008 4:27am
Quoting Turveyd
about 98% at the last count, shame FF can't link into our accounts to show enable us to better choose who to listen to hey!!!!
this thread will make you crazy, newbies trying to predict the market then when it don't go there way they start to make stupid dections. buy sell oh no i meant buy
If I Go Broke Trying Then I Will die happy.
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