Cable Update (GBPUSD)

Agree...

please explain why ?

according to vsa there is NOTHING bullish about this chart ... NOTHING .. very clear what the pros are up to (well to me anyway)


I will see you at 1,5500

bullish ???? yeah right

can anyone show me why Gu is bullish ? because we ended on a pin bar on Friday afternoon ? come on . I ignore that

isn't major resistance 6200 ? .... oh we closed UNDER that level

My bullish perception of the pound is based solely from my analysis, and I only use trendlines, SR and fibonacci. No indicators. My signals are telling me to buy. I would love to show you a chart of mine, but I cannot for the life of me figure out how to put a chart in the posting.

save chart as jpeg file then add as attachment

Are you currently in a short position

Yes, true.. i only use simple analysis with fibo, sr.. yet the PA looks a little bullish for me.. it formed a high high then a high low, plus i dont see that was a break out... it did not break the support which i see around 1.6190.. and sync with no news at all from the last night. it respected the support..

Before u see a very clear trend which is bearish.. yesterday it breaks the trend.. confirmed as trend reversal. Well, i dont do complicated analysis just because i dont have that ability.. this is just a simple analysis according to my chart.. thats all..

yes gu 6443 , gj 159

overall weekly chart bearish ..... we may just may test 1.6600 one more time , but really I doubt it, Not with the volumes i have seen on daily , weekly an d monthly.

note how we ripped up 400 pip ... mmm .... why did it not keep going ..where did all the bulls go ?

the down move was still twice as big as up move. I am bearish .

i am holding swing trade shoirt for 3 months if need be , unl;ess gu breaks up and in the mean time I will scalp the hell outr of Gj as I have been doing this week

1st target gu 1.5500 then 400 pip up
1st target gj 140 then 500 pip up

this?

Okay, no problem bro.. we all have own analysis, we might be right, you might be right.. But that is what all doing right now.. better stick to your plan.. and dont listen to us.. anybody can get wrong..

Yes, nice chart bro... that is what i'm talking about..

bye bye 1.6 ... 1.5 and maybe even 1.4

look at this volume cluster right under the 38 % retrace of the down move 38% ONLY !!!! .. not 50 not 61,8 ... 38 % .. the bearish down trend is about to continue . May take another 2-4 weeks to play out but it is on us.

This volume cluster of sellers was higher than before drop from 2.1000. What do the pros know that we do not ?

for those that like fibs and stuff ... how can we have a 3000 pip up move with now retracement..50 % is 1.5200

only time will allow the story to unfold

OKay.i just could say good luck to all of us.. The rest is just depends on the candle..

From my simple analysis, i will say GU will be in downtrend when market is opened. The highest it can go is 1.6322 (100pips). If the price breaks the said price, it may change the trend for 1H and 4H chart.

lol, I've made this call since beginning of June. calling it 5300. January this year I called cable to tank to 3800 & on both occasions I've been ridiculed
Save yourself the trouble malcolm if you see what's unfolding, I understand perfectly where you're coming from. let's just sit quietly in a corner and take the money when the time comes.

this is why i love trading always the constant battle the BULLS Vthe BEARS may forex live for ever

Nice chart. But the ltl is incorrect.

Drawing trendlines and channels is not a matter of satisfying the chart to please the bias which you stand on. I have the same main channel here :
http://www.forexfactory.com/showthre...38#post2843438
And as you can see the bottom channel is at 5900 level.The level which I kept mentioning this past week where I have stated closed below we will see 5300. I have however chose to stay flat for this past week as approaching this level the market will be indicisive, leaving false indications :
http://www.forexfactory.com/showpost...postcount=1674
I did say when price close below 6165 we will test 5900 level. Close above 6220 level we're likely go higher. Neither had happened, justifying my reason for not trading cable this week ( I am not speaking from a scalper's point of view by the way since I am not one ).
Anyway, if candles are anything to go by, daily has clearly developed the round top formation, of course nothing in this business is absolute, but that is a serious warning af the major trend turning. With all that being said, I could still be wrong ( I am rarely wrong ), but I think I'll trust my lying eyes on this one.


Cheers bro, enjoy your weekend

hey guys,
i am little familiar with vsa and think malcom is def. right - worm and a former pro in this forum about their bearish gbp bias. unfortunately i closed my 6350 short and just scalped short gu yday but i expect another downmove in gu next week too. my intraday charts are 15m/1m but for lterm i will watch this..

happy trading anybody + have a great weekend.

I've been watching this discussion between malcolmb and others unfold for a while now. Now first I'll say that 1) I'm a new trader with MUCH to learn, 2) I know NOTHING about VSA (but would like to) as the "logic" behind it seems sound to my way of thinking, 3) I'm just a humble old carpenter but have a knack for seeing things in people that others "may" not.

In my time here at FF I've seen a lot, and I mean a LOT of folks coming in here and asking/wondering, where will price go today, the next 8 hours, the next 4, 1 hours, the next 15 minutes?...LOL Looking for calls/advice on what trade to make for "those" times.

I think (and please correct me malcolmb, WB if I'm way off base here) but, I'm striving to get to a point both in experience and account size where I can see the "bigger" picture (longer term), take fewer/better trade setups per week/month and make bigger money doing so.

I know that no one (including me) can see that bigger picture without time and experience on their side. It simply can't be done. You have to crawl before you can walk and all that stuff. As "newer" traders, we usually have small accounts and are looking to rake in the big money fast so we tend to make the mistake of trading small TF's looking to place many trades per day. I've learned that every time you pull that trigger it's the biggest part of the risk. The more you do, the greater the risk you take.

What folks like malcolmb, WB and many other "experienced" traders see is the larger view of good trade setups over longer spans of time. They provide analysis based on "that" view which obviously, will many times contradict the smaller hour to hour, day to day moves in price. They spend a lot of time trying to help and enlighten us new traders into seeing this view.

Whether you agree or not is pretty much irrelevant but I think, at least for me, when you see folks with many posts, vouchers and obviously more years of experience, it might be wise to heed their words and not argue with or contradict them even if it doesn't fit our "smaller" views/needs of the Forex world or, we simply can't understand where their coming from.

I don't know about everyone else but I came to FF to "learn how to trade". Not spout what I "think" I know. In my humble view, it's pretty easy to spot those worthy of listening to and learning from.

Malcolmb, WB (and all the other senior traders too numerous to list), I thank you for the time you spend helping us and look forward to the day I can rightfully and deservedly call myself a "Trader"....