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Cable Update (GBPUSD)

  • #171,821
  • Oct 1, 2009 5:47am Oct 1, 2009 5:47am
Quoting nAVIN2007
i tried to play a trendline touch of the ascending channel on 1hr i got killed, honestly to me trendlines a bullsh*t to trade with for accuracy..
they should be called "account blowers"

they just ok for giving a direction for price
Bad luck mate..although I don't see the channel you are referring to...I do see that at the close of the 4hr thrust candle price had arrived at the confluence of 3 potential resistance factors as shown on pic below:


http://i33.tinypic.com/wi7nd0.gif
ex member
  • #171,822
  • Oct 1, 2009 5:54am Oct 1, 2009 5:54am
Quoting nAVIN2007
yes but that is because u use them to map price towards a direction
and they still doing the job just blowing yur account the right way
lucky me then
Thank You
  • #171,823
  • Oct 1, 2009 5:54am Oct 1, 2009 5:54am
Quoting bbmac
Bad luck mate..although I don't see the channel you are referring to...I do see that at the close of the 4hr thrust candle price had arrived at the confluence of 3 potential resistance factors as shown on pic below:


http://i33.tinypic.com/wi7nd0.gif

yur lines looks good...but my feed is an absolutel b*tch to trade a trendline from, no way i can rely on a trendline
Attached Image (click to enlarge)
Click to Enlarge Name: trade.gif Size: 29 KB
  • #171,824
  • Oct 1, 2009 5:56am Oct 1, 2009 5:56am
Quoting nAVIN2007
thats the kind of love i can do without
Tough mother with a tough love...
Hear the music before the song is over ...
  • #171,825
  • Oct 1, 2009 5:57am Oct 1, 2009 5:57am
Quoting wormboy
lucky me then
nah u aint lucky just gifted..
  • #171,826
  • Oct 1, 2009 5:57am Oct 1, 2009 5:57am
Quoting GlobalMacro
Tough mother with a tough love...
yup cant argue with that......
  • #171,827
  • Oct 1, 2009 5:58am Oct 1, 2009 5:58am
Quoting Bull_Bear
Agreed....

Also right now its more so GBP strength across the board... Thats why EUR is correlated negatively.


My view on cable:

4hr engulfing bear candle, bear flag break and retest, UTL to hold, if fails then major resistance just above as shown on chart.

Waiting for a fall in Cable and USD/JPY as shown in previous charts, which should bring GBP/JPY down fast and hard....this bear is very patient lol.

Is that the sound of a taxi in the distance?
Attached Image (click to enlarge)
Click to Enlarge Name: 01-10-06.gif Size: 18 KB
  • #171,828
  • Oct 1, 2009 6:05am Oct 1, 2009 6:05am
Quoting nAVIN2007
yur lines looks good...but my feed is an absolutel b*tch to trade a trendline from, no way i can rely on a trendline
zoom it out you'll see it clearly bro.
Attached Image (click to enlarge)
Click to Enlarge Name: gu4.JPG Size: 71 KB
Thank You
  • #171,829
  • Oct 1, 2009 6:06am Oct 1, 2009 6:06am
Quoting direct-trade
My view on cable:

4hr engulfing bear candle, bear flag break and retest, UTL to hold, if fails then major resistance just above as shown on chart.

Waiting for a fall in Cable and USD/JPY as shown in previous charts, which should bring GBP/JPY down fast and hard....this bear is very patient lol.

Is that the sound of a taxi in the distance?
Not so fast mate, just movement in the correlated pair (EUR weakness) and 1.5980 holding for now.... Once EUR weakness ends expect a bounce back in cable.
Attached Image (click to enlarge)
Click to Enlarge Name: Cable.JPG Size: 145 KB
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #171,830
  • Oct 1, 2009 6:10am Oct 1, 2009 6:10am
Quoting direct-trade
My view on cable:

4hr engulfing bear candle, bear flag break and retest, UTL to hold, if fails then major resistance just above as shown on chart.

Waiting for a fall in Cable and USD/JPY as shown in previous charts, which should bring GBP/JPY down fast and hard....this bear is very patient lol.

Is that the sound of a taxi in the distance?
yup the taxi is coming to pick azim and BB opened a can of whoopass
Attached Image
  • #171,831
  • Oct 1, 2009 6:11am Oct 1, 2009 6:11am
Quoting nAVIN2007
yur lines looks good...but my feed is an absolutel b*tch to trade a trendline from, no way i can rely on a trendline
I think it's about understanding what constitutes a trading channel and that to me is a 'loose' channel not fitting the technical description of what I understand a channel to be...also understand the difference between channels and trend lines.

An ascending channel for example joins a breeched swing lo with a new swing hi so long as that line can be parrallel to the ascending channel joining swing lows in the upmove...4hr therefore looks like this in respect of an ascending channel and the lower channel line can also double as the trend line; Ie a trend line joins absolute swing hi's with swing hi's and swing lo's with swing lo's, and a cghannel is a geometric orderly progersssion of price within a generally bullish (ascending/bearish-descending context.) As such a channel can also be a beaer flag/bull flag as DT is poining out in his excellent charts.

G/L

http://i34.tinypic.com/2l9jt55.gif
ex member
  • #171,832
  • Oct 1, 2009 6:12am Oct 1, 2009 6:12am
Quoting nAVIN2007
yup the taxi is coming to pick azim and BB opened a can of whoopass
Hey NAV, watch her whoopass 1.5980. Opps there she goes.. lol
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #171,833
  • Oct 1, 2009 6:14am Oct 1, 2009 6:14am
I'm still bearish bias..
  • #171,834
  • Oct 1, 2009 6:15am Oct 1, 2009 6:15am
Quoting bbmac
I think it's about understanding what constitutes a trading channel and that to me is a 'loose' channel not fitting the technical description of what I understand a channel to be...also understand the difference between channels and trend lines.

An ascending channel for example joins a breeched swing lo with a new swing hi so long as that line can be parrallel to the ascending channel joining swing lows in the upmove...4hr therefore looks like this in respect of an ascending channel and the lower channel line can also double as the trend line;...
yes thanks bro!..am trying with this trendline stuff..but i always getting it
points noted thanks tom
  • #171,835
  • Oct 1, 2009 6:15am Oct 1, 2009 6:15am
Quoting GlobalMacro
Tough mother with a tough love...

Hi GM,

I know you have been love sick since your precious lady of the internet vanished, but I would like you to know we found out that Mrs Beautiful Queen of Cable is in actual fact called Kevin, likes burgers, and lives with his mum.
Attached Image
  • #171,836
  • Oct 1, 2009 6:16am Oct 1, 2009 6:16am
Quoting bbmac
I think it's about understanding what constitutes a trading channel and that to me is a 'loose' channel not fitting the technical description of what I understand a channel to be...also understand the difference between channels and trend lines.

An ascending channel for example joins a breeched swing lo with a new swing hi so long as that line can be parrallel to the ascending channel joining swing lows in the upmove...4hr therefore looks like this in respect of an ascending channel and the lower channel line can also double as the trend line;...
Looks very sexy
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #171,837
  • Oct 1, 2009 6:19am Oct 1, 2009 6:19am
Quoting direct-trade
Hi GM,

I know you have been love sick since your precious lady of the internet vanished, but I would like you to know we found out that Mrs Beautiful Queen of Cable is in actual fact called Kevin, likes burgers, and lives with his mum.
lol wonder how he gets pass the toilet door
Thank You
  • #171,838
  • Oct 1, 2009 6:20am Oct 1, 2009 6:20am
Quoting Bull_Bear
Hey NAV, watch her whoopass 1.5980. Opps there she goes.. lol



she gunning for the lower line bro.... bears are tough!
Attached Image (click to enlarge)
Click to Enlarge Name: trade.gif Size: 27 KB
  • #171,839
  • Oct 1, 2009 6:21am Oct 1, 2009 6:21am
Quoting direct-trade
Hi GM,

I know you have been love sick since your precious lady of the internet vanished, but I would like you to know we found out that Mrs Beautiful Queen of Cable is in actual fact called Kevin, likes burgers, and lives with his mum.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #171,840
  • Oct 1, 2009 6:22am Oct 1, 2009 6:22am
Quoting wormboy
lol wonder how he gets pass the toilet door
With a crane
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