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Cable Update (GBPUSD)

  • #182,901
  • Nov 15, 2009 10:44am Nov 15, 2009 10:44am
what you guys think

weekly div last tine this started to form ...dj rose 1500 points , this time it formed dj has risen 1993 points

can you say overbought ?

to be honest I expect a correction to a double bottom

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  • #182,902
  • Nov 15, 2009 10:45am Nov 15, 2009 10:45am
Quoting malcolmb14
for those that think i am a complete muppet ....

weekly chart and symmetry of moves

it is an educated guess that this will drop if this move is symmetrical form the 2007 top

remember wave 1 and 2 will form when everyone are still bullish ...wave 3 is the longest as they discover they were completely wrong

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malcolm with all due respect it's not THAT symmetrical. The first descent was steep with few retracement green bars, and came within a recent period of ranging. The second one has more choppy PA and follows some large swings.
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  • #182,903
  • Nov 15, 2009 11:09am Nov 15, 2009 11:09am
Quoting cgldsmth
malcolm with all due respect it's not THAT symmetrical. The first descent was steep with few retracement green bars, and came within a recent period of ranging. The second one has more choppy PA and follows some large swings.
you are 100 % correct

I am looking at the major swings

also right now there is talk of currency crisis and complete devaluation of the usd ....

so i would expect the down moves to be less and up move to be greater just due to the overall perception

that pattern is very similar though and if 1.6850 holds then we could well be in the start of wave 3 on the weekly ... wave 3 takes down into 1.4570

thereis talk of dj going 30 % higher yet in 2010 , with unemployment going to 13% ... lol ....someone is telling lies .. and with weekly bear div rsx and 2000 point rise from when that divergence started markets will come off , as stated before starting in 1st quarter of next year

another 3 bansk went down this week costing fdic 1 billion .... see that on cnbc ? NO that is 5.5 billion hit to fdic in last 3 weeks. Main stream does not even know ambac or cit filed for chapter 11 ... any US citizens ask your buddies who do not trade if they knew of any of this .... 14 banks down , 5.5 billion hit to fdic , cit filing for chapter 11 , ambac filing for chapter 11 , feds thinking of another 400 billion stimulus right oafter Obamas health bill and unemployment claims extension have been passed....and deficit climbing at highest since wwII..at least at that time there was a war to account for the deficit.....

also unemployment at 10.2% is ONLY basedo n numbers of claiments .. how about all those other unemployed people that stopped cliaming unemployment benefits months ago due to the 90 day max benefit ruling ? I have heard alarmming real numbers of unemployment in the US being over 20%

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  • #182,904
  • Nov 15, 2009 11:15am Nov 15, 2009 11:15am
now lets go look at dx ..

look at those volumes on weekly .....

bad data ? or a MASSIVE amount of buying .... I am talking about the highest since the inception of the dx ....

think that pros really are selling here in that volume ?

if they are you had better go get water , canned food , guns and be ready for all out civil unrest and marshal law..that would be the complete destruction of the usd

I am super bull on the usd....

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  • #182,905
  • Nov 15, 2009 11:18am Nov 15, 2009 11:18am
Hi malcolmb,

Would you like to give your idea about this please?

http://www.forexfactory.com/showthre...29#post3233829
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  • #182,906
  • Nov 15, 2009 11:18am Nov 15, 2009 11:18am
Quoting 4Naomi
pathetic. more than 5 years trading and yet trading like a newbie
here you go .... dude ...

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  • #182,907
  • Nov 15, 2009 11:34am Nov 15, 2009 11:34am
Quoting No Stress
Hi malcolmb,

Would you like to give your idea about this please?

http://www.forexfactory.com/showthre...29#post3233829
looking weekly , daily , 12 hr then 4 hr , if anything i prefer a break down of the triangle we have and a double top forming at 1.5050 area.

I see the h&s you are looking at , but there is a much bigger regular on on the weekly chart

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  • #182,908
  • Nov 15, 2009 11:43am Nov 15, 2009 11:43am
Quoting malcolmb14
for those that think i am a complete muppet ....

weekly chart and symmetry of moves

it is an educated guess that this will drop if this move is symmetrical form the 2007 top

remember wave 1 and 2 will form when everyone are still bullish ...wave 3 is the longest as they discover they were completely wrong

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Don't understand malcolmb why it be so symmetrical form the 2007 top rather reference same area of congestion should be 10-2002 and big up may be waiting after the sideways, again cup & handle patterns also in both instances suggesting bullish continuation.
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #182,909
  • Nov 15, 2009 11:53am Nov 15, 2009 11:53am
Quoting fontu
Don't understand malcolmb why it be so symmetrical form the 2007 top rather reference same area of congestion should be 10-2002 and big up may be waiting after the sideways, again cup & handle patterns also in both instances suggesting bullish continuation.
fontu
2007 , doji 11 weeks down , then up 5 weeks doji

now doji 10 weeks down , then up 5 weeks , doji

still think no symmetry ?

the price action is not exact ...because everyone .. and I mean everyone is super bear usd still ....so i expect the up move this time to be larger

on 2007 top the market was way less overbought than it is now

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  • #182,910
  • Nov 15, 2009 11:58am Nov 15, 2009 11:58am
btw .. THIS IS NOT A TRADE CALL ....just a mere educated guess of the futures ... the move to 1.4000 could take months and months to form , the last top took 11 months to form ....

that takes us int 2nd quarter of next year before this one forms , hence i have mentioned this zone several time ....


Quoting malcolmb14
2007 , doji 11 weeks down , then up 5 weeks doji

now doji 10 weeks down , then up 5 weeks , doji

still think no symmetry ?

the price action is not exact ...because everyone .. and I mean everyone is super bear usd still ....so i expect the up move this time to be larger

on 2007 top the market was way less overbought than it is now

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  • #182,911
  • Nov 15, 2009 12:01pm Nov 15, 2009 12:01pm
Quoting malcolmb14
looking weekly , daily , 12 hr then 4 hr , if anything i prefer a break down of the triangle we have and a double top forming at 1.5050 area.

I see the h&s you are looking at , but there is a much bigger regular on on the weekly chart

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Great thanks for your idea bro.

Looks like an important week to decide to which direction EU will go. I made a plan to go long with tight SL when a good entry point will give signal. If we go through the double top, i'll considere that bullish is taking place up to 1.55. If we'll go lower than 1.4820, bearish or range are preparing to take place for long time up to contact with daily support.

Again thanks.
No Signal, No Trade. No fundamenals, No headache.
  • #182,912
  • Edited 12:45pm Nov 15, 2009 12:11pm | Edited 12:45pm
Quoting malcolmb14
2007 , doji 11 weeks down , then up 5 weeks doji

now doji 10 weeks down , then up 5 weeks , doji

still think no symmetry ?

the price action is not exact ...because everyone .. and I mean everyone is super bear usd still ....so i expect the up move this time to be larger

on 2007 top the market was way less overbought than it is now

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Thanks , yes I see dojis & so bear may play to some 1000 -1200pips before great up .Anyway not much convinced in gu for big down though expecting some bear but yet that any great before all up.
fontu
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  • #182,913
  • Nov 15, 2009 12:24pm Nov 15, 2009 12:24pm
Quoting 4Naomi
pathetic. more than 5 years trading and yet trading like a newbie
You must be a F--ing IDIOT . What u know about other traders in here? Both Newbies and Experienced come here to learn and share. What you have done? have you shared anything useful? NO... u are like bitchy dog...So keep ur f--cking dirty mouth shut
  • #182,914
  • Nov 15, 2009 12:41pm Nov 15, 2009 12:41pm
Quoting No Stress
Great thanks for your idea bro.

Looks like an important week to decide to which direction EU will go. I made a plan to go long with tight SL when a good entry point will give signal. If we go through the double top, i'll considere that bullish is taking place up to 1.55. If we'll go lower than 1.4820, bearish or range are preparing to take place for long time up to contact with daily support.

Again thanks.
MAN Double top and you thinking about Long
http://www.babypips.com/school/double_top.html
  • #182,915
  • Nov 15, 2009 12:42pm Nov 15, 2009 12:42pm
Hi all,
I think we will see a gap down today.
My broker is FXCM and the gd now is 1.6670

Regards.
  • #182,916
  • Nov 15, 2009 12:43pm Nov 15, 2009 12:43pm
Quoting malcolmb14
looking weekly , daily , 12 hr then 4 hr , if anything i prefer a break down of the triangle we have and a double top forming at 1.5050 area.

I see the h&s you are looking at , but there is a much bigger regular on on the weekly chart

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As always
  • #182,917
  • Nov 15, 2009 12:45pm Nov 15, 2009 12:45pm
Quoting malcolmb14
now lets go look at dx ..

look at those volumes on weekly .....

bad data ? or a MASSIVE amount of buying .... I am talking about the highest since the inception of the dx ....

think that pros really are selling here in that volume ?

if they are you had better go get water , canned food , guns and be ready for all out civil unrest and marshal law..that would be the complete destruction of the usd

I am super bull on the usd....

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Malcolm,

I wish I understood VSA.

So if pros are buyin the $ in large amounts why doesn't it go up.

High demand usually pushes prices up not down surely?

Any clarification would be appreciated...
  • #182,918
  • Nov 15, 2009 12:57pm Nov 15, 2009 12:57pm
Quoting egkid
MAN Double top and you thinking about Long
http://www.babypips.com/school/double_top.html

The trend is up - I think that might be why He's thinking of going long.

And the dollar is toilet paper.

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  • #182,919
  • Nov 15, 2009 12:59pm Nov 15, 2009 12:59pm
Quoting malcolmb14
now lets go look at dx ..

look at those volumes on weekly .....

bad data ? or a MASSIVE amount of buying .... I am talking about the highest since the inception of the dx ....

think that pros really are selling here in that volume ?

if they are you had better go get water , canned food , guns and be ready for all out civil unrest and marshal law..that would be the complete destruction of the usd

I am super bull on the usd....

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Good info and update, Mal .. thank you
One thing I concern to trade GY is when Usd gets stronger, UJ may pull up and shall drag GY up. Unless, GU drops at a faster rate. It shall be a double whammy if Yen is also stronger than Usd.
  • #182,920
  • Nov 15, 2009 1:02pm Nov 15, 2009 1:02pm
Quoting egkid
MAN Double top and you thinking about Long
http://www.babypips.com/school/double_top.html
Bro,

My plan was made. I think we'll go long. I'm waiting for confirmation on next move to enter. I don't like to change mind when i'm convinced. I'll go WHEN A GOOD ENTRY POINT GIVE SIGNAL and with tight SL as usual, not before. For me, double top pattern was not confirmed yet. Many double tops pattern in EU was not respected. I don't care if i'm right alone. Being in the winning minority was never a problem for me. If my calculation is right, i'm trading with 1:4 ratio before retrace. We'll see.
No Signal, No Trade. No fundamenals, No headache.
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