I'm Still Trust For This CS Pattern 
Cable Update (GBPUSD)
- #158,183
- Aug 15, 2009 8:29am Aug 15, 2009 8:29am
- | Joined Oct 2008 | Status: A witty saying proves nothing. | 1,178 Posts
Probability Professor
- #158,184
- Aug 15, 2009 10:00am Aug 15, 2009 10:00am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
These are the types of charts people should be looking at: no nonsense ones.
- #158,187
- Edited Aug 16, 2009 3:18am Aug 15, 2009 5:47pm | Edited Aug 16, 2009 3:18am
- Joined Mar 2009 | Status: FX | 3,789 Posts
Veni, Vidi, Vici (We came, we saw, we conquered)
- #158,188
- Aug 15, 2009 5:52pm Aug 15, 2009 5:52pm
Hey guys , Its really so hard to tell where the pound's going next week , as the daily trend is still intact, however our close below 6580 is not good for the bulls.
For me , I'm waiting for CPI to re-evaluate the condition.
My advice is if you are in doubt , get out.
Good luck everybody.
BTW , check out this RSI indicator it has 2 MAs that could support your calls for those who like to use Relative Strength Index.
The 2 MAs represent either a support or resistance levels, these are used to filter-out the RSI false signals of Divergence.
For me , I'm waiting for CPI to re-evaluate the condition.
My advice is if you are in doubt , get out.
Good luck everybody.
BTW , check out this RSI indicator it has 2 MAs that could support your calls for those who like to use Relative Strength Index.
The 2 MAs represent either a support or resistance levels, these are used to filter-out the RSI false signals of Divergence.
- #158,189
- Aug 16, 2009 2:28am Aug 16, 2009 2:28am
Weekly is down trend. Daily is up trend but looks like ascending wedge. 4H looks like a begining of head and shoulders. 1H is already down trend. 30 mn is downtrend with a prepared symetrical triangle (market is not yet decided which direction to take). 15 mn shows more powerful price action for down trend than bullish. Level 1.6485 was touched many times, showing like a support line which could be broken if ascending wedge on daily and head and shoulders on 4H (two reversal patterns) will take their normal down rally.
Correlation with GY is around 45% on daily, 47% on hourly and actually showing more expressive the reversal patterns and beguin to arrive at resistance line indicated on weekly.
All in all, seems we are going to south in long term (NOTHING IS SURE). No reason to not go long for some pips, but in my case, i will be better confident to take short position as higher as the market can go higher than taking long as down as the market can go down. In any case, SL will be our protector.
Correlation with GY is around 45% on daily, 47% on hourly and actually showing more expressive the reversal patterns and beguin to arrive at resistance line indicated on weekly.
All in all, seems we are going to south in long term (NOTHING IS SURE). No reason to not go long for some pips, but in my case, i will be better confident to take short position as higher as the market can go higher than taking long as down as the market can go down. In any case, SL will be our protector.
If you resist at heart attack, you will be rich from trading.
Hey guys , Its really so hard to tell where the pound's going next week , as the daily trend is still intact, however our close below 6580 is not good for the bulls.
For me , I'm waiting for CPI to re-evaluate the condition.
My advice is if you are in doubt , get out.
Good luck everybody.
BTW , check out this RSI indicator it has 2 MAs that could support your calls for those who like to use Relative Strength Index.
The 2 MAs represent either a support or resistance levels, these are used to filter-out the RSI false signals of Divergence.
- #158,194
- Aug 16, 2009 1:15pm Aug 16, 2009 1:15pm
- Joined Mar 2008 | Status: Taking Care Of Business | 5,587 Posts
My 10th wedding anniversary tomorrow. Need some pips today. Wish me luck please.
Hear the music before the song is over ...
- #158,197
- Aug 16, 2009 1:26pm Aug 16, 2009 1:26pm
- | Joined May 2009 | Status: Trader | 1,124 Posts
Happy Anniversary, Ifty!
thank God its all over for this year.
You've got to be IN IT to WIN IT!
Thanks bro. Made good use of the pips on friday LOL. I ate and ate and ate all this weekend. My stomach is absolutely killing me. I bought the Mrs a 24K ring and so she is happy anyway,
...now let me focus on the trading....
- #158,200
- Aug 16, 2009 2:01pm Aug 16, 2009 2:01pm
- | Joined May 2009 | Status: Trader | 1,124 Posts
You've got to be IN IT to WIN IT!