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Cable Update (GBPUSD)

  • #127,541
  • Mar 20, 2009 10:25am Mar 20, 2009 10:25am
Quoting Tmac
dude he has all but said he would make this right and pay him back so drop it already
By "all but", you mean he hasn't actually said that, I take it?

A lot of the convoluted misunderstandings on here do seem to be caused by language difficulties.

*wonders where all the native English speakers discuss this stuff*
  • #127,542
  • Mar 20, 2009 10:31am Mar 20, 2009 10:31am
lol, so the circus have not left town yet i see. welp, back to the hole I guess.
Thank You
  • #127,543
  • Mar 20, 2009 10:39am Mar 20, 2009 10:39am
Looks like a retest of a declinine trendling also supported by prior resistance .. I would like to see a re-test of the daily 55-ema before another test and hopefully break of the 459x area.

Targets are 4630 and 4850
  • #127,544
  • Mar 20, 2009 10:43am Mar 20, 2009 10:43am
I bet the longs who take their positions from other folk's analysis are getting stomach cramps now

as it slowly, slowly ebbs away....

minute after minute

like butter on a slightly warm knife
  • #127,545
  • Mar 20, 2009 10:49am Mar 20, 2009 10:49am
Quoting allserene
I bet the longs who take their positions from other folk's analysis are getting stomach cramps now

as it slowly, slowly ebbs away....

minute after minute

like butter on a slightly warm knife
I dont listen to others, just use their ideas and evaluate possible outcomes. One of my positions was a long from 3860 this week and closed at 4497. Had a few other nice winners too.

Anyway.. Some levels to think about for now and into Sunday...

1.4330 Visual Support + Weekly M5 Pivot + Daily M2
1.4345 Daily 55 EMA
1.4355 Hourly 55 EMA
1.4373 M15 200 EMA + 50% fib

A nice 'zone' to look for reasons to buy
  • #127,546
  • Mar 20, 2009 10:59am Mar 20, 2009 10:59am
Quoting jack.canadia
I dont listen to others, just use their ideas and evaluate possible outcomes. One of my positions was a long from 3860 this week and closed at 4497. Had a few other nice winners too.

Anyway.. Some levels to think about for now and into Sunday...

1.4330 Visual Support + Weekly M5 Pivot + Daily M2
1.4345 Daily 55 EMA
1.4355 Hourly 55 EMA
1.4373 M15 200 EMA + 50% fib

A nice 'zone' to look for reasons to buy
It's so difficult when the shares are whizzing up and down 7% in day and everyone is trying to figure whether its the end of the world or whether bernanke is right and the recession is over by xmas

People look at charts and say 'oh it's reaching the level x month or years since' as though that's really significant

I reckon that 2 years ago is very ancient history for today's financial scene and I don't want to take any notice of resistance and support back then

I suppose thats the old fundie/chartist controversy but it's more extreme right now

I can see that charts make sense in the short term as all the witch doctors are shaking the same bones to make their diagnosis
  • #127,547
  • Mar 20, 2009 11:14am Mar 20, 2009 11:14am
Ha ha... one comment about the quality of English and the great metaphors flood in. Loved the knife/butter stuff. What's the significance of the bones - did (do?) they shake old bones like dice and look at the pattern to determine what's wrong or something?
  • #127,548
  • Mar 20, 2009 11:31am Mar 20, 2009 11:31am
What's happening in here?...
Patience + Discipline - Greed = Success
  • #127,549
  • Mar 20, 2009 11:33am Mar 20, 2009 11:33am
Quoting ForexRookie
With all due respect, i don't think you are in a position to comment about the way i trade when i haven't even posted my strategy anywhere on the forum.

you give the link in this forum, i'm just ask.
with all my respect, i dont need that anyway....
  • #127,550
  • Mar 20, 2009 11:39am Mar 20, 2009 11:39am
Quoting thetroll
Ha ha... one comment about the quality of English and the great metaphors flood in. Loved the knife/butter stuff. What's the significance of the bones - did (do?) they shake old bones like dice and look at the pattern to determine what's wrong or something?
I am having a poetic morning today - hope it isnt the celtic recessive gene I am trying so hard to deny. I like my norse/saxon bits and I would gladly have my Welsh/Irish genes extracted and given to some deserving AIDS patient

Well the argument for charts is that even if they are all mumbo jumbo from bongo bongo land, if everyone else is using these weird 'rules' then it's a valid predictor of the next movement

If some wise sage says that that cable goes up 500 pips the 3rd day after every new moon, and if everyone trades believing that, then it becomes self fulfilling

Thats all that chartism is

I am a creature of logic so I hate charts, but they work for the reason above. I dont think they reveal human nature, I think they are just a cultural habit like maypoles and bonfire night and 'self fulfilling' is the explanation

The market allows us to make our small gains based on charts (come on in brother) then whacks us beteen the eyes while we are trying to get our s/l's in place
  • #127,551
  • Mar 20, 2009 12:01pm Mar 20, 2009 12:01pm
Overall, The daily trendline has been broken, and I believe this will act as a support. Strong support at 1.4400, which is where price action broke through the daily trend line as well.

On a shorter time frame, price action has been ranging, and is now forming a descending triangle.

Come to your own conclusions.
Attached Image(s) (click to enlarge)
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Probability Professor
  • #127,552
  • Mar 20, 2009 12:05pm Mar 20, 2009 12:05pm
Hi Buddy......
How are you? Remember recently you sent me a private message asking ...my system of trading? That day my child was sick and I took time to write you back getting late to take collect him from school. Do you have little at least manners? Do you have something called "thank you " in your vocabulary? You are in the same trick now.........is there a limit to selfishness?
Thank you for attention.......
My firewall detected hacking from Iran, Malaysia today........I know who did that as the person left his IP .......



Quoting dashboard
you give the link in this forum, i'm just ask.
with all my respect, i dont need that anyway....
BANDA333
  • #127,553
  • Mar 20, 2009 12:16pm Mar 20, 2009 12:16pm
so people . . next week we will have a bearish trend, wont we?

i just feel it
  • #127,554
  • Mar 20, 2009 12:17pm Mar 20, 2009 12:17pm
Quoting uut
so people . . next week we will have a bearish trend, wont we?

i just feel it
You feel it? This isn't Las Vegas ya know
Probability Professor
  • #127,555
  • Mar 20, 2009 12:32pm Mar 20, 2009 12:32pm
Quoting BANDA
Hi Buddy......
How are you? Remember recently you sent me a private message asking ...my system of trading? That day my child was sick and I took time to write you back getting late to take collect him from school. Do you have little at least manners? Do you have something called "thank you " in your vocabulary? You are in the same trick now.........is there a limit to selfishness?
Thank you for attention.......
My firewall detected hacking from Iran, Malaysia today........I know who did that as the person left his IP .......
My firewall only lets nice looking birds through...

enable 'NLB' and relax
  • #127,556
  • Mar 20, 2009 12:36pm Mar 20, 2009 12:36pm
dow off 54 points at 10.36am pacific

cable getting big red candles

oh dear
  • #127,557
  • Mar 20, 2009 12:38pm Mar 20, 2009 12:38pm
Thankx buddy


Quoting allserene
My firewall only lets nice looking birds through...

enable 'NLB' and relax
BANDA333
  • #127,558
  • Mar 20, 2009 1:02pm Mar 20, 2009 1:02pm
Quoting allserene
dow off 54 points at 10.36am pacific

cable getting big red candles

oh dear
The Dow is going down hard but the dollar isnt strengthening on the back of it.

Very interesting does that mean its no longer considered a safe haven and everyone will stick their money in gold and similar?
  • #127,559
  • Mar 20, 2009 1:03pm Mar 20, 2009 1:03pm
Quoting dashboard
you give the link in this forum, i'm just ask.
with all my respect, i dont need that anyway....
I gave the link for simple technical analysis, you can draw your own conclusions from it, but in no way is my analysis a way of providing signals to trade . Just hoping it provides some people, some help in deciphering what is happening in the market. Any trades that i take and write on my journal are simply for my own benefit to learn from my mistakes, which is why i write it after i have closed the trade.

"The trend is your friend, until the end."
  • #127,560
  • Mar 20, 2009 1:11pm Mar 20, 2009 1:11pm
Pipland, I noticed that as well. Seems like a lot of rules are being broken this week.
Seems like the cable will catch up eventually (as I speak, oops write)
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