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Cable Update (GBPUSD)

  • #196,421
  • Jan 27, 2010 2:43pm Jan 27, 2010 2:43pm
Quoting ZeroPip
I earned 30 pips first target... and target to 1.6120... EURUSD target 1.3900

pls if you have any chart post it

not to say any thing or any target with with out proof

many people will folow u and will get lost
  • #196,422
  • Jan 27, 2010 2:47pm Jan 27, 2010 2:47pm
Quoting digger1
tht was the pattern yesterday Dr D in the usdchf
Digger,

~30 hrs later... here's how the GU played out....
just like the USDCHF of 24 hrs earlier.

You picked that one well!

Dr. D.
Attached Images
  • #196,423
  • Jan 27, 2010 2:56pm Jan 27, 2010 2:56pm
Quoting fourxtrader
Digger,

~30 hrs later... here's how the GU played out....
just like the USDCHF of 24 hrs earlier.

You picked that one well!

Dr. D.

Dr. D

could u post yout template
  • #196,424
  • Jan 27, 2010 3:03pm Jan 27, 2010 3:03pm
fourxtrader

could you explain me this correlation. woudn't it make sense if usdchf would move opposite to gbpusd?
at least usd is in one pair at first and in the other the second.
and I would except that gbp and chf behave similar...
thanks a lot
  • #196,425
  • Jan 27, 2010 3:11pm Jan 27, 2010 3:11pm
My thoughts
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  • #196,426
  • Jan 27, 2010 3:28pm Jan 27, 2010 3:28pm
Quoting Baby-Trader
My thoughts

B T how are bro
  • #196,427
  • Jan 27, 2010 3:31pm Jan 27, 2010 3:31pm
Quoting Baby-Trader
My thoughts


simple .. and very good ... same view here
THE CREATOR AND OWNER OF S.N.M "Serve no Master" Trading Stystem
  • #196,428
  • Jan 27, 2010 3:32pm Jan 27, 2010 3:32pm
Quoting uptrend
fourxtrader

could you explain me this correlation. woudn't it make sense if usdchf would move opposite to gbpusd?
at least usd is in one pair at first and in the other the second.
and I would except that gbp and chf behave similar...
thanks a lot
Dr D and I were just compareing price patterns, the trades were 30 hours apart
  • #196,429
  • Jan 27, 2010 4:15pm Jan 27, 2010 4:15pm
Quoting kill56
B T how are bro
Hello My Bro,
I'm fine but this shitty pair is very painful.
I feel there are some cookings behind what we are see for that pair.
It's not correlated with any pair.

BTW, how are you? and hope you are doing well.
  • #196,430
  • Jan 27, 2010 4:24pm Jan 27, 2010 4:24pm
Quoting uptrend
fourxtrader

could you explain me this correlation. woudn't it make sense if usdchf would move opposite to gbpusd?
at least usd is in one pair at first and in the other the second.
and I would except that gbp and chf behave similar...
thanks a lot
You have to remember, just because things are correlated (or negatively correlated) it is not 100%. Things can move together and then apart, or one can lead another. Trade the charts, not the correlations. Correlations are only helpful as a confirmation signal.

For instance

GBP/USD

USD/CHF

as your example. Lets assume the USD is gaining strength and the others are constant. U/C will rise while G/U will fall. Now lets assume GBP is losing strength and CHF is gaining strength while USD is constant. GBP will fall and CHF will fall.
  • #196,431
  • Jan 27, 2010 4:35pm Jan 27, 2010 4:35pm
Hi Everyone,

I was wondering if we expect any major choppiness during Obama's speech? Do we expect the USD to strengthen from it?

Thanks heaps guys!
  • #196,432
  • Jan 27, 2010 4:40pm Jan 27, 2010 4:40pm
Looks like its slowly crawling back up
  • #196,433
  • Jan 27, 2010 4:41pm Jan 27, 2010 4:41pm
Quoting Ctic
You have to remember, just because things are correlated (or negatively correlated) it is not 100%. Things can move together and then apart, or one can lead another. Trade the charts, not the correlations. Correlations are only helpful as a confirmation signal.

For instance

GBP/USD

USD/CHF

as your example. Lets assume the USD is gaining strength and the others are constant. U/C will rise while G/U will fall. Now lets assume GBP is losing strength and CHF is gaining strength while USD is constant. GBP will fall and CHF will fall.
Yes, i agree with you. Even pairs like... for example, EJ have strong co-relation with EU and UJ. If one of the two are about to breakout, you can confirm that EJ would trend as well. This, with respect to the euro and yen alone, neglecting the effects of the $.
  • #196,434
  • Jan 27, 2010 4:44pm Jan 27, 2010 4:44pm
Quoting Baby-Trader
Hello My Bro,
I'm fine but this shitty pair is very painful.
I feel there are some cookings behind what we are see for that pair.
It's not correlated with any pair.

BTW, how are you? and hope you are doing well.

salam bro

i am doing great did u try to hit and run when u dont see a clear trend that u can stay with i hope it will work for u and greeny pips all the time
  • #196,435
  • Jan 27, 2010 5:00pm Jan 27, 2010 5:00pm
Quoting uptrend
fourxtrader

could you explain me this correlation. woudn't it make sense if usdchf would move opposite to gbpusd?
at least usd is in one pair at first and in the other the second.
and I would except that gbp and chf behave similar...
thanks a lot
Hi uptrend,

I noticed that digger1 was commenting on some kind of 'delayed' correlation on inverse pairs. The compression charts I use make pattern correlations and recognition much easier to follow and compare though as he pointed out were lagging by about 30 hours. I'm not that detailed in correlations. Ctic gave a great explanation after on how weakness and strengths may throw off any correlation or pattern recognition and a reminder not to rely heavily on them.

Dr. D.
  • #196,436
  • Jan 27, 2010 5:00pm Jan 27, 2010 5:00pm
Quoting skiffx
Looks like its slowly crawling back up
Trade the range until it breaks from the range..
  • #196,437
  • Jan 27, 2010 5:07pm Jan 27, 2010 5:07pm
Quoting fourxtrader
Hi uptrend,

I noticed that digger1 was commenting on some kind of 'delayed' correlation on inverse pairs. The compression charts I use make pattern correlations and recognition much easier to follow and compare though as he pointed out were lagging by about 30 hours. I'm not that detailed in correlations. Ctic gave a great explanation after on how weakness and strengths may throw off any correlation or pattern recognition and a reminder not to rely heavily on them.

Dr. D....
Dr. D,

I took the night off trading although I did put a long in before I went to sleep, but I was watching the tick chart EMA compression patterns I was telling you that I was going to set up for fun. Believe it or not, it may offer some signals as to which way the longer tf's will break. What I noticed is that when the charts are compressing, the compression happens in the middle of the bid and ask lines. Once the both lines end up on either side of the compressions that was the direction it was going.

WARNING TO EVERYONE READING THIS:

Remember this is a tick chart so do not base your trades off this. This post is just a continuation to a discussion Dr. D. and I were having.
  • #196,438
  • Jan 27, 2010 5:49pm Jan 27, 2010 5:49pm
  •  Now
  • | Joined Aug 2006 | Status: 'I should have taken the money' | 654 Posts
Quoting horseman1
Hi, Im new to trading and i was wondering if anyone is expecting the two announcments at 7:15 to have a major effect on the currency either way.

Thanks
Welcome to FF!

Nice action (if you are (where) long the dollar and short the yen), wasn't it.

Here is what triggered it, interest rate expectations, 'the' driving force in the fx markets:

Quote
NEW YORK (Dow Jones)--The dollar advanced against most of its rivals Wednesday after a dissent to the Federal Reserve's vote to leave interest rates near zero fueled speculation the U.S. might be moving closer to raising interest rates.
The euro plunged briefly below $1.40 for the first time since July 2009, while the yen dipped to an intraday low against the dollar after the Federal Open Market Committee's meeting, when Kansas City Fed President Thomas Hoenig voted against leaving short-term interest rates at ultra-low levels. Higher-yielding...

Take your time to learn how fundamentals work and how they influence FX markets on the long and merdium term.

Cheers
Being right is one, taking it from the table is two.
  • #196,439
  • Edited 6:21pm Jan 27, 2010 6:01pm | Edited 6:21pm
Quoting uptrend
fourxtrader

could you explain me this correlation. woudn't it make sense if usdchf would move opposite to gbpusd?
at least usd is in one pair at first and in the other the second.
and I would except that gbp and chf behave similar...
thanks a lot
Hello uptrend

Correlation: USDCHF and GBPUSD have a daily neg. correlation of -76.8
see further information, please:
http://www.mataf.net/en/tools/correlation

Price patterns are broken down into two different types: "reversal and "continuation". In order to find your probabilities (trading chance) in technical analysis, you need to clearly determine the difference between the two and predict the type as it is forming, not after it has formed. To understand price patterns it helps to understand trends and trendlines.

Volume tells us a lot about price patterns and trend reversals as it plays an important role in many indicators.

Kindest reagards
  • #196,440
  • Jan 27, 2010 6:56pm Jan 27, 2010 6:56pm
I suspect Tokyo will open with massive selling..
Patience + Discipline =
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