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Cable Update (GBPUSD)

  • #128,261
  • Edited 7:59am Mar 27, 2009 7:38am | Edited 7:59am
Quoting liquidmoment
Your not wrong there. Check out this MEP telling it straight on how bad brown and the UK economy really are- http://www.youtube.com/watch?v=94lW6Y4tBXs&eur


Strange how You wont see this broadcast on the BBC in the UK.
I don't think Daniel Hannan, who compares the UK to Zimbabwe on Fox News, can ever be accused of "telling it straight". He speaks from an aggressive partisan platform, with a clear agenda, and is far from fair or impartial. There are definitely some very entertaining soundbites enclosed for the masses, hence why he appears on Fox News, but his speeches are always very light on fact and balance.

For a balanced outlook on the UK economy, one should listen carefully to the views of Vince Cable, a man who is above the petty bickerings of party politics and gives both criticism and praise whenever it is due. His track record throughout this crisis has, in my opinion, made him a man worth listening to (and I do not support the party he represents).
  • #128,262
  • Mar 27, 2009 7:41am Mar 27, 2009 7:41am
Well Gang,

Here it is...
The Million Math Completed.
'Chiseled out what 'could this week,
For what some of us were calling for...

It Certainly coulda been more for
"Mwa" me, myself...!
Happy Pipping,

Jeff...

Quoting TerpFan2
Hey Gang,

A WEEKLY,
Retrace, w/my "Million Man Math" would be about 1.4329,
for the next stop... Tempting even more "Bloke's" for
completing a H&S to the 'Downside' on the 4hr.
-Just a thought. -Crudely Drawn Demo Chart Below,
Happy Pipping,

Jeff !
Attached Image (click to enlarge)
Click to Enlarge Name: 2009_Mar_27 H_n_S Completing.jpg Size: 162 KB
I will work to Objectively Identify my Edges
  • #128,263
  • Mar 27, 2009 8:18am Mar 27, 2009 8:18am
i was play gbp/jpy...that are really high votality,and go downside that reach 307 pips..my tp is only 80pips... i think cable also can be the same thing, after dollar active in the market soon
  • #128,264
  • Mar 27, 2009 8:49am Mar 27, 2009 8:49am
Quoting Bill Gates
i was play gbp/jpy...that are really high votality,and go downside that reach 307 pips..my tp is only 80pips... i think cable also can be the same thing, after dollar active in the market soon
Don't think there's much juice in the tank for today. EUR has done a 2.5c move and the GBP has also done a 2.5c move. I'm only playing the small range for now. Its gonna be tough doing, going into the weekend.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #128,265
  • Edited 9:42am Mar 27, 2009 9:25am | Edited 9:42am
Scalp short gave me profits, scalp long gave looses !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #128,266
  • Mar 27, 2009 9:44am Mar 27, 2009 9:44am
Quoting Fx1618
GMT 0700 - 27/03

Bias - Short
Trade - Short @ 1.4459
1.4334 > +125
I'm @ the pub & the weekend starts now

happy pipp'n all
  • #128,267
  • Mar 27, 2009 9:53am Mar 27, 2009 9:53am
Quoting manize
Scalp short gave me profits, scalp long gave looses !
Pretty tough going ay manize... Think i'll pull the plug soon
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #128,268
  • Mar 27, 2009 10:05am Mar 27, 2009 10:05am
Quoting alcando
So, I am not sure if this frequently spotted pattern in cable is know as a Head and Shoulders, or a Fringe and big ears. To me it is more like the hanging man...
I dub this pattern head and shoulders, too. I came up with a simple definition for myself about H&S - first it fails to make a new high then it violates the last support. And the "head" is being made when hourly candles go up and down like a hookers knickers.

And notice how often the whole pattern begins with a big breakout on the hourly. For the current pattern it was back on the 18th.
forget about tomorrow, just steal away into the night
  • #128,269
  • Mar 27, 2009 10:20am Mar 27, 2009 10:20am
For those that caught the H&S move today, its' what you call GOOD FRIDAY. Time for GOOD SATURDAY.

Happy Pipin guys....
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #128,270
  • Mar 27, 2009 11:11am Mar 27, 2009 11:11am
Pound formed a 322-pip Head & Shoulders Pattern. The min target is 4221
{Promotion Removed}
  • #128,271
  • Mar 27, 2009 11:16am Mar 27, 2009 11:16am
Quoting Bull_Bear
For those that caught the H&S move today, its' what you call GOOD FRIDAY. Time for GOOD SATURDAY.

Happy Pipin guys....
OK let me try one more scalp long at 1.4302 ! SL + 10 pips !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #128,272
  • Mar 27, 2009 4:46pm Mar 27, 2009 4:46pm
Someone in here was talking of buying a DOW DOG ETF, which is the equivalent of shorting the DOW.

Is there an ETF that is the equivalent of longing the DOW?
  • #128,273
  • Mar 27, 2009 5:09pm Mar 27, 2009 5:09pm
Quoting jack.canadia
Someone in here was talking of buying a DOW DOG ETF, which is the equivalent of shorting the DOW.

Is there an ETF that is the equivalent of longing the DOW?
ddm and dxd are the 2 that I play for the dow long and shrt
Blogging daily now at www.volume.zone
  • #128,274
  • Mar 27, 2009 5:55pm Mar 27, 2009 5:55pm
Quoting jack.canadia
Someone in here was talking of buying a DOW DOG ETF, which is the equivalent of shorting the DOW.

Is there an ETF that is the equivalent of longing the DOW?
Hey Jack! Here is a site I like to use for etf research. http://etf.stock-encyclopedia.com/ I also like to use www.barcharts.com it is great for weighting etf's within sectors. The other nice thing about etf's is that you can play options on them. I like to option the ultras. Three times the move, long or short.
  • #128,275
  • Mar 28, 2009 2:41pm Mar 28, 2009 2:41pm
Quoting spekitox
I dub this pattern head and shoulders, too. I came up with a simple definition for myself about H&S - first it fails to make a new high then it violates the last support. And the "head" is being made when hourly candles go up and down like a hookers knickers.

And notice how often the whole pattern begins with a big breakout on the hourly. For the current pattern it was back on the 18th.

A pattern resembling two peaks (the shoulders) with a higher peak between the two shoulders (the head). The neckline, or the bottom boundary that both shoulders reach, is regarded as a key point traders can use to enter/exit positions.
This is probably the most famous of all chart patterns, but not always the most reliable. When it works it will always be seen as a reversal pattern and consists of four phases.

The first phase is the formation of a small peak (point A which is the left shoulder), retraces and then is followed by more aggressive buying to create the head, which eventually retraces and tests the support (know as the neckline), followed by another attempt at a rally, which does not produce a peak as high as the head (point C). This is then followed by another test of the neckline.
Points B, D - local minima.
This particular pattern is seen as a reversal, in which a break of the neckline is expected and the move should be in the amount equivalent from head to neckline.
The unreliability of this move result from the fact that the final test of the neckline does not always result in a break and the move continues in the same direction as before. This means a definite break of the neckline (say 15-25 pips) should be seen before action is taken. Based on momentum, the momentum should be higher during the formation of the left shoulder than the right shoulder to confirm that this pattern is taking place and that buying pressure is decreasing
Attached Image
Don't chase the market, Let the market come to you
  • #128,276
  • Mar 28, 2009 2:46pm Mar 28, 2009 2:46pm
Reverse Head and Shoulders http://www.forexgen.com/templates/ja...pdf_button.png http://www.forexgen.com/templates/ja...rintButton.png http://www.forexgen.com/templates/ja...mailButton.png A chart pattern used in technical analysis to predict the reversal of a current downtrend. This pattern is identified when the price action of a security meets the following characteristics:
1. the price falls to a trough and then rises.
2. The price falls below the former trough and then rises again.
3. Finally, the price falls again, but not as far as the second trough.
Once the final trough is made, the price heads upward toward the resistance found near the top of the previous troughs. Investors typically enter into a long position when the price rises above the resistance of the neckline. The first and third trough is considered shoulders, and the second peak forms the head.


This pattern is also known as a "reverse head and shoulders" or a "head and shoulders bottom
As you can see from the chart above, a move above the resistance, also known as the neck line is used as a signal of a sharp move higher. Many traders will watch for a large spike in volume to confirm the validity of the breakout. This pattern is the opposite of the popular head and shoulders pattern, but is used to predict shifts in a downtrend rather than an uptrend.
Attached Image
Don't chase the market, Let the market come to you
  • #128,277
  • Mar 28, 2009 2:47pm Mar 28, 2009 2:47pm
Triangles

Symmetrical triangles

  1. Consist of lower highs and higher lows
  2. Place entry orders above the lower highs and below the higher lows

Ascending triangles

  1. Consist of higher lows and a resistance line
  2. It usually means that the price will break the resistance line and go higher but you should place entry orders on both sides just in case the resistance line is too strong.
  3. Place your entry orders above the resistance line and below the higher lows.

Descending triangles

  1. Consist of lower highs and a support line
  2. Usually mean that the price will break the support line and go lower but you should place entry orders on both sides just in case the support line is too strong.
  3. Place your entry orders above the lower highs and below the support line.

Don't chase the market, Let the market come to you
  • #128,278
  • Mar 28, 2009 9:30pm Mar 28, 2009 9:30pm
I think that the true story of direction lies in the 4hr and the weekly chart for cable and even more so think that it will see further confirmation on the EG chart.

I think in the weeks to come the stock chart patterns will prove to be nothing more than headfakes and moneytakes, but of course, time will be the teller.

This weeks play follows in the cycle of what I had forecasted more than 2 full weeks ago, and am quite anxious to see how it really plays out. Aware that spamming the house with further charts and crazy ass theories is probably going to be frowned upon after the 2 weeks we have seen, I am going to stick to my guns, hold my positions, and keep faith in the patterns, and save you all from my crazy ass shit. HEH!

All though a little premature on a few plays this week, some reco positions have put me fantastic much to the point of saying, I really have never had a better time trading.

I would like to thank some of the seniors like Silvia, Worm and EO (a lot more, can't remember all the names, mediheaded....)for giving me the confidence to hold through the noise and play the chart fantastics.

As I have been sick for the most of this week, I would also like to appologize to unanswered pms, yahoos, and messanger questions, it don't look like I am quite threw the worst yet, so will most likely be abscent for the coming week as well...effin flu!

Good luck all.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #128,279
  • Mar 29, 2009 8:40am Mar 29, 2009 8:40am
If you're an investor and you really want to meet your own worst enemy, simply go stand in front of a mirror and look straight ahead.

Too few investors understand this. Fewer still can grasp how they are their own worst enemy. "Self-inflicted wound" is a fitting analogy, but if you need a more scientific phrase, the best one is "cognitive bias."

Put simply, cognitive biases are errors in perception -- certain beliefs or emotions that literally alter our perception and memory. For example: Suppose that two people take a test, and that it takes a high level of competence to earn a good test score. One person earns that good score, while the other does not.

When asked to estimate their test scores, who do you think typically underestimates their performance – the competent or the incompetent individual?

Competent people will underestimate their scores – and, alas, incompetent individuals will consistently overestimate theirs. This is what two psychologists from Cornell University showed in an article titled, "Unskilled and Unaware of It."

This particular problem is the "overconfidence effect" (i.e., wishful thinking). Unfortunately, the varieties of cognitive bias make for a long list. One of the best documented is the "bandwagon effect," or the tendency to follow the choices of others -- it's the one that leads to performance chasing and creates followers not leaders and decision makers.
Don't chase the market, Let the market come to you
  • #128,280
  • Mar 29, 2009 2:13pm Mar 29, 2009 2:13pm
That is why they say "More you learn, then you get to know how much you don't know" .So to make any informed decisions you need to have sufficient facts/cognitive skills. This is no way to put anybody down.....when people judge others without knowing ,their circumstances we enter in to area where you could easily be viewed as a idiot.

Hey buddy appreciate you postings.
happy piping

Quoting Tmac
If you're an investor and you really want to meet your own worst enemy, simply go stand in front of a mirror and look straight ahead.

Too few investors understand this. Fewer still can grasp how they are their own worst enemy. "Self-inflicted wound" is a fitting analogy, but if you need a more scientific phrase, the best one is "cognitive bias."

Put simply, cognitive biases are errors in perception -- certain beliefs or emotions that literally alter our perception and memory. For example: Suppose that two people take a test, and that it...
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