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Cable Update (GBPUSD)

  • #147,021
  • Jul 16, 2009 3:48pm Jul 16, 2009 3:48pm
When you really think about it, there really are no trends. Just price fluctuations within a range. The size of the "Range" may vary but still, it's a range. And every "Range" is made up of smaller "Trends" in BOTH directions due to reversals. It's in finding these reversals we make money.

Well said bro
  • #147,022
  • Jul 16, 2009 4:00pm Jul 16, 2009 4:00pm
Quoting woodlybog
When you really think about it, there really are no trends. Just price fluctuations within a range. The size of the "Range" may vary but still, it's a range. And every "Range" is made up of smaller "Trends" in BOTH directions due to reversals. It's in finding these reversals we make money.

Well said bro
actually there is a trend thats why prices moves from one extreme to the other...people make money in being able to trade the ranges through wedges, triangles and what not..in truth..everything exists and nothing..

to some its random BS to others its not
what ever works i suppose
  • #147,023
  • Jul 16, 2009 4:06pm Jul 16, 2009 4:06pm
Quoting albchr
I find this really funny. And I fail to see why your....so demanding!!!!!!! with all the explanation points...LOL as if you're yelling at us.

Yep, you said this 13 hours ago. But price has been bouncing in here for 30 hours now.

The trend is your friend UNTIL IT ENDS!!!!! LOL

Personally, I look for the end of trends to trade. I want the reversals. Can you point to (within the last 30 hours) anything that either says the "trend" will continue OR die?? I think not.

When you really think about it, there really are no trends. Just price fluctuations...

Dude, first of all there was only a few exclamation marks, and secondly your one of the first I have heard in forex to talk about trends not existing, but ranges blah blah blah?

I only go with what the market is showing me, if it is trending, then I dont say, oh its time for this thing to reverse, or its found a top or bottom!

I will stay with the trend until it shows me otherwise.

I wasnt yelling at anyone, I was quite simply reinforcing the old adage "the trend is your friend" and yes trends do end and range then trend, then range, and so on.

Last night, price action was preceeded by a market that had been trending up for 4 days or so, so i was just saying stay with it, simple.

Good luck!
  • #147,024
  • Jul 16, 2009 4:10pm Jul 16, 2009 4:10pm
Earnings from both Google and IBM better than estimates and better than one year ago! Almost makes you think: Crisis..? What crisis?

However, stocks can't keep going like this without a breather (at least), so I'm considering a short if I see respected resistance at the 1.66-level. I'd obviously prefer a clean break, but I don't think that's likely for the next couple of trading days. Cable seems to be lagging a bit, we're just a handful of pips higher than 24 hours ago. Let's go 150+ in the next 24...
  • #147,025
  • Jul 16, 2009 4:13pm Jul 16, 2009 4:13pm
...trend is your friend

Quoting nAVIN2007
always bro always
  • #147,026
  • Jul 16, 2009 4:15pm Jul 16, 2009 4:15pm
...
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  • #147,027
  • Jul 16, 2009 4:16pm Jul 16, 2009 4:16pm
If you look at the one hour and 15m for thursday, you can see a symmetrical triangle forming, which in an uptrend says we are "probably" going to break higher.
  • #147,028
  • Jul 16, 2009 4:19pm Jul 16, 2009 4:19pm
Quoting ranhat007
...trend is your friend
oh yes

stupid trade really..must be bored
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  • #147,029
  • Jul 16, 2009 4:26pm Jul 16, 2009 4:26pm
Quoting woodlybog
When you really think about it, there really are no trends. Just price fluctuations within a range. The size of the "Range" may vary but still, it's a range. And every "Range" is made up of smaller "Trends" in BOTH directions due to reversals. It's in finding these reversals we make money.

Well said bro
It's simply fractal in nature
  • #147,030
  • Jul 16, 2009 4:30pm Jul 16, 2009 4:30pm
Quoting alex1976
Dude, first of all there was only a few exclamation marks, and secondly your one of the first I have heard in forex to talk about trends not existing, but ranges blah blah blah?

I only go with what the market is showing me, if it is trending, then I dont say, oh its time for this thing to reverse, or its found a top or bottom!

I will stay with the trend until it shows me otherwise.
Well I didn't exactly say they "didn't exist". I simply meant that Ranges are made up of the smaller ups and downs we call trends. Perhaps I didn't say it that well but "trends" can last for weeks, days, hours or even minutes depending on what time frame you're looking at. So what really defines a trend?

When an up move stops and price moves sideways for over 30 hours, I'm sorry but to me, that up move has stopped and I'll take my profits. Now, can it start going up again? Sure. Can it go down from here? Sure.

I do what the market tells me as well. the market told me, Hey, this could go down now so take your full profits and run.

For the past 30 hours it hasn't told me anything for sure. What's it told you?

I wasn't trying to be argumentative and sorry if it came across that way. That's why I stared out with "I find this funny".

But....

"I told you that 1H wasn't divergence!!"
"As I said 13 hours ago, the trend is your best friend, don't forget it!!"

Sure sounds a little like "Listen you idiot" to me....LOL

Anyway, it's all good as long as everyone is making some cash.
Ghost Rider - WWTBMD?
  • #147,031
  • Jul 16, 2009 4:31pm Jul 16, 2009 4:31pm
i see this channel range breaking to the upside in the next 1.5 hrs possibly...

looks bullish to me..but what do i know
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  • #147,032
  • Jul 16, 2009 4:37pm Jul 16, 2009 4:37pm
Arrggghh, I've got 2 months worth of money coming in then very possibly nothing so aim to go full time out of necessity to be honest mid next week, systems working well, accounts going the right way then BANG the markets just stop working likely until September, ARRRGGHHHHHHHHH


Could really do with the normal movements and ranges back ASAP time is ticking!!!



Always another problem, LIFE!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #147,033
  • Jul 16, 2009 4:40pm Jul 16, 2009 4:40pm
Quoting albchr
Well I didn't exactly say they "didn't exist". I simply meant that Ranges are made up of the smaller ups and downs we call trends. Perhaps I didn't say it that well but "trends" can last for weeks, days, hours or even minutes depending on what time frame you're looking at. So what really defines a trend?

When an up move stops and price moves sideways for over 30 hours, I'm sorry but to me, that up move has stopped and I'll take my profits. Now, can it start going up again? Sure. Can it go down from here? Sure.

I do what the market tells...

Okay maybe it was a little abrasive.

We all have our different views on where price may be heading next.

No hard feelings!

Good luck!
  • #147,034
  • Jul 16, 2009 4:40pm Jul 16, 2009 4:40pm
Quoting nAVIN2007
i see this channel range breaking to the upside in the next 1.5 hrs possibly...

looks bullish to me..but what do i know

Volumes are so low there is next to no follow through so don't even bother to try to pick a direction, it's entirely a 50/50 game here.

UK Open seems to be the best activity, guess I'd better wake up early!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #147,035
  • Jul 16, 2009 4:44pm Jul 16, 2009 4:44pm


Quoting nAVIN2007
i see this channel range breaking to the upside in the next 1.5 hrs possibly...

looks bullish to me..but what do i know
  • #147,036
  • Jul 16, 2009 4:47pm Jul 16, 2009 4:47pm
Quoting alex1976
We all have our different views on where price may be heading next.

No hard feelings!

Good luck!
Absolutely...

(And shhhh...don't tell anyone) but in all honesty, I sure wish I had a CLUE where it was going next....

My "gut" says down but.....
Ghost Rider - WWTBMD?
  • #147,037
  • Jul 16, 2009 4:59pm Jul 16, 2009 4:59pm
Morning guys,

Nothings change, GPB and EUR direction bias is still north.

ESP the EUR with a close above the trend line and resistance which makes it even more powerful.

I'm a believer of positive correlation between the pairs..... Just have to hang tight and wait till the "doing your head in PA is over". CRAZY FRIDAY will bring fruition and light.....

Catch you guys in the London / US session

Gotta Run.
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Veni, Vidi, Vici (We came, we saw, we conquered)
  • #147,038
  • Jul 16, 2009 5:01pm Jul 16, 2009 5:01pm
Quoting Turveyd
Arrggghh, I've got 2 months worth of money coming in then very possibly nothing so aim to go full time out of necessity to be honest mid next week, systems working well, accounts going the right way then BANG the markets just stop working likely until September, ARRRGGHHHHHHHHH

Could really do with the normal movements and ranges back ASAP time is ticking!!!
I hear that brother. Savings ran out last month with just enough to start this account. This is NO time for the market to sleep.......LOL
Ghost Rider - WWTBMD?
  • #147,039
  • Jul 16, 2009 5:01pm Jul 16, 2009 5:01pm
Bb whats the trade u hold ?
  • #147,040
  • Jul 16, 2009 5:01pm Jul 16, 2009 5:01pm
Hum....

If FE 1.00 dosen't hold, we'll aim for 1.27, witch match preatty much 78.6% of last larger move on 4h chart...

---------
15 min chart now...
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