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Cable Update (GBPUSD)

  • #182,601
  • Nov 12, 2009 3:11pm Nov 12, 2009 3:11pm
Quoting fadi66
hi there iam watching the gbpusd one week and i just wanted every one to help me with my technical analysis .....here what i got for these days.

watting ur opnion.....and good luck.

see the attachment.>>>>>

...is this order?
The Market pays you to be disciplined
  • #182,602
  • Nov 12, 2009 3:32pm Nov 12, 2009 3:32pm
please check this chart in the next 2 weeks and u all will see that my technical analaysis is right ....i make every month about 500 pips on the gbpusd....

good luck http://cdn.forexfactory.com/images/icons/icon8.gifhttp://cdn.forexfactory.com/images/icons/icon8.gif
  • #182,603
  • Nov 12, 2009 3:54pm Nov 12, 2009 3:54pm
Quoting fadi66
hi there iam watching the gbpusd one week and i just wanted every one to help me with my technical analysis .....here what i got for these days.

watting ur opnion.....and good luck.

see the attachment.>>>>>
i think it's better
Attached Image (click to enlarge)
Click to Enlarge Name: New Picture (1).jpg Size: 103 KB
  • #182,604
  • Nov 12, 2009 4:57pm Nov 12, 2009 4:57pm
I just got this from Norris and tot it might educate :
''Despite what many retail account holders think, professional traders don’t forecast. The pro’s know that on any given day a market can correct, and that correction can turn into a reversal. For some speculators this may be cause for concern, not for a trader. Traders don’t forecast.

If a professional can definitively tell you the current trend, then by definiton she can tell you at what point in price and time that trend changed. She can point to the very candle or bar which produced the set-up that provided the level which price moved beyond to produce the change/reversal. That definition is what lends the trader confidence in the decision making process and what makes forecasting, like opinions, unnecessary, and even a liability. What the professional understands is that technically she is not making the decision, the market is. The market, through it’s highs, lows, and closing prices provides the framework which defines the critical levels that are the set-ups for coming directional changes. The trader just determines which time frame she is going to heed those changes on. ''

Jay Norris
  • #182,605
  • Nov 12, 2009 5:13pm Nov 12, 2009 5:13pm
Quoting goodwings
I just got this from Norris and tot it might educate :
''Despite what many retail account holders think, professional traders don’t forecast....

I can tell you Live with a very high probability that the trend has changed, but I can't tell you if you'll get a 5 pip or a 200pip move with the new trend and NOBODY Can do as thats a prediction.

Lower the TF the less lag and the sooner you can tell.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #182,606
  • Nov 12, 2009 5:23pm Nov 12, 2009 5:23pm
Still hold my sell waiting to hit my TP that is on support 2. I hope i am not gambling
Attached Image (click to enlarge)
Click to Enlarge Name: guh1.gif Size: 16 KB
  • #182,607
  • Nov 12, 2009 5:30pm Nov 12, 2009 5:30pm
Quoting Mr.Sabah
Still hold my sell waiting to hit my TP that is on support 2. I hope i am not gambling

u are not gambling i am still holding my shorts too

it may rebound till 1.6700 but i am holding my shorts till 1.6475

good luck

i hope we don't lose thise trade
THE CREATOR AND OWNER OF S.N.M "Serve no Master" Trading Stystem
  • #182,608
  • Nov 12, 2009 5:46pm Nov 12, 2009 5:46pm
Quoting negro wolf

u are not gambling i am still holding my shorts too

it may rebound till 1.6700 but i am holding my shorts till 1.6475

good luck

i hope we don't lose thise trade

On the basis you are holding a position over events that have random effects on the market ( ie news ) and hoping for a positive outcome, you are gambling plain and simple.

Trend is vaguely up again here, but don't worry you might get statistically probability at various news events to get a good move down for you. ( otherwise not a clue at this point )
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #182,609
  • Nov 12, 2009 5:52pm Nov 12, 2009 5:52pm
Quoting negro wolf

u are not gambling i am still holding my shorts too

it may rebound till 1.6700 but i am holding my shorts till 1.6475

good luck

i hope we don't lose thise trade
There is no we in trading with people holding hands and singing 'Kumbaya'. You are not trading against the market, you are trading against other traders, and if they are better than you, you will lose.

Like Turveyd said, 'On the basis you are holding a position over events that have random effects on the market ( ie news ) and hoping for a positive outcome, you are gambling plain and simple.'
Probability Professor
  • #182,610
  • Nov 12, 2009 5:58pm Nov 12, 2009 5:58pm
Quoting Mr.Sabah
Still hold my sell waiting to hit my TP that is on support 2. I hope i am not gambling

Nice fibs..
  • #182,611
  • Nov 12, 2009 6:13pm Nov 12, 2009 6:13pm
Quoting fourxtrader
Here's a interesting formation developing as the solid color ema's
gather between 1.6614 and 1.6635. If the price will range between
here (~1.6530) and the aqua 144 ema at ~1.6614 it will draw these
into a tighter compression. Being on a 1hr chart this could produce
a large movement if......

Shall I repeat..... this formation should develop into some big moves.
I'd like to see the trading move up in and around this gathering of ema's.

This narrow trading range now 32 hrs old is pulling all the ema's down and
together into an even tighter compression (1.6618 to 1.6606) preparing for
explosive movement especially if the compression continues. When, is anyone's
guess. It could happen in the LDN or NY or not until next week.

Dr. D.
Attached Image
  • #182,612
  • Nov 12, 2009 6:15pm Nov 12, 2009 6:15pm
True,

Hey Turveyd, have you taken any position? (if you don't mind my asking)

Today looked GREAT for scalping until the end of NY. Now we are up.
Malcomb has pointed out all the volume.

Dragon broke up first today and cable has now followed. Swissy up as well.

Fibre seems to be small break up.

No substantial news breaks this week and our FX pairs have shown lots of up lately. This seems to be market simply correcting. There are more breaks to come IMO.
Hope all are well and wish luck to you.
X-

Quoting Turveyd
On the basis you are holding a position over events that have random effects on the market ( ie news ) and hoping for a positive outcome, you are gambling plain and simple.
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #182,613
  • Nov 12, 2009 6:24pm Nov 12, 2009 6:24pm
Hey Bro,
I agree completely.. Looking for break. I am looking up due to correction and as you said narrowing range. Always to support and resistance.

We'll see! Freaky Friday tomorrow, but this may not take full swing until next week.

Quoting fourxtrader
Shall I repeat..... this formation should develop into some big moves.
I'd like to see the trading move up in and around this gathering of ema's.

This narrow trading range now 32 hrs old is pulling all the ema's down and
together into an even tighter compression (1.6618 to 1.6606) preparing for
[i][color=blue][i]explosive movement especially if the compression continues....
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #182,614
  • Nov 12, 2009 7:38pm Nov 12, 2009 7:38pm
Here is my thoughts for the next leg in the Epic Saga "As The Cable Falls"...

The plot thickens!
Attached Image (click to enlarge)
Click to Enlarge Name: cabs.JPG Size: 231 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #182,615
  • Nov 12, 2009 8:15pm Nov 12, 2009 8:15pm
Took a small nibble for the short side....1.6577...

Lets get this party Started!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #182,616
  • Nov 12, 2009 8:44pm Nov 12, 2009 8:44pm
Channel trading anyone?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 27 KB
Harmonics and Pitchfork using korHarmonics from TradingArsenal
  • #182,617
  • Nov 12, 2009 8:58pm Nov 12, 2009 8:58pm
Stopped out in my E/G trade. Waiting for an opportunity to load another long.

Maybe when those pesky ACBs that bought Cable at 1.652 unload their positions.

Cable short still alive and kicking.

Watching and waiting. Might have to wait till next week at this rate

Z

Quoting dezsayin
I agree with buying EURGBP, this one has been trending upwards for a while and with recent developments, and it closing on the hourly above resistance at .9046 has made me a buyer.

Comparing EUR, GBP and USD, it's sometimes hard to pick a better whipping boy (GBP or USD) but EUR is clearly stronger than the 2 right now. USD is a wildcard, it'll get beaten down as long as equities rise, but if a reversal happens, it could roar back to life.

I reckon it will at least test the right shoulder of the H&S on daily chart. Aiming for .9239 at least,...
I have no biases. I just trade what the charts tell me.
  • #182,618
  • Nov 12, 2009 9:07pm Nov 12, 2009 9:07pm
Tripped outa dat trade @ 1.6596...Oh well. Off for the evening...See ya for NY open!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #182,619
  • Nov 12, 2009 9:10pm Nov 12, 2009 9:10pm
Quoting Magix
Here is my thoughts for the next leg in the Epic Saga "As The Cable Falls"...

The plot thickens!
Magix,

... but make it EPIC with a plot that offers carry trade act
and a leg back to a double top @ 1.7000 before the crash.

That would be memorable.

Dr. D.
Attached Image
  • #182,620
  • Nov 12, 2009 9:20pm Nov 12, 2009 9:20pm
Quoting fourxtrader
Magix,

... but make it EPIC with a plot that offers carry trade act
and a leg back to a double top @ 1.7000 before the crash.

That would be memorable.

Dr. D.
Sigh...

After another look @ the charts, might have thought better about a stop loss...1.6620 might just be posing as top, then EPIC...

No matter, I am done for the evening, too tired, eyes are crossed and not paying proper mind, this is a good way for me to be feeding cash back to the market instead of building the Xmas holiday cash.

Trade well mango!

Have a good one

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
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