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Cable Update (GBPUSD)

  • #204,261
  • Mar 8, 2010 11:58am Mar 8, 2010 11:58am
Quoting Mr.Elliott
IMHO...so far cable PA have shown some weird moves...untill now...the PA have been able to penetrate a certain point of prices...but the trendlines are intact @ 1.5025. so my bias are still bullish but if the price manage to break support (of course from my chart) @ 1.5032...then my bias might change if in addition the price manage breaking 1.5175 resistance. on the other hand i'm waiting still before any entry...
See, even without a chart...

IF I had to pick a team to be on, and if was put down to an opinion that is worth paying for...

I would say this fella has words worth listening to.

Nice analysis Mr.E!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #204,262
  • Mar 8, 2010 12:02pm Mar 8, 2010 12:02pm
Quoting Magix
Dude, this just gets better and better with every post.

It might seem like I am targeting you, and well though that might be the case, it is ever so more relevant that my words fall on ALL ears.

There have been a few of us working feverishly with charts, support ranges and trading strategies, as we realize that there are a lot of new fresh traders that walk through these halls on a day to day basis....
Well if you look back through my post I've never said anything to be a absolute. I always say, be careful because we're close to a particular level etc........ I know as a earlier trader I would trade with current day's trend not knowing about a larger energy on a higher time frame waiting to reverse the market and stop me out. I try to point out some of those levels and get a discussion going as to why or why not price will move from that point.

As someone that wants to help more and be more involved I've determined that it would be unethical for me to give out all the info that I want to because I do charge my clients for that info. That's not me bragging, that's simply the truth. I want to show you guys my charts and give live trade recommendations but I can't and me telling you why offends you and is considered bragging?

I can see now that ever since I stated that MA were lagging but great for newbs you took offence to that and your are just going to have a problem with me. Well if that's how it is for you so be it. I'm not going to come on here and try to defend my opinion to you or anybody else. Just ignore me and act like my post aren't there if you feel so strongly that I don't add anything to the board.
  • #204,263
  • Mar 8, 2010 12:03pm Mar 8, 2010 12:03pm
Quoting wormboy
I'm not magix but I hope you dont mind me saying.
The weekly pin was 400 pip wide & topped dead on 50% retrace on the H4.
Plenty to make in between a single 400 pip candle before it plays out, IF it ever plays out imho. A single candle is just a warning, it's not a strong confirmation. Remember the daily hammer you said price wouldn't go below @5330. Well this is no different.
Today was a good example. 150 drop off the top. One could've easily sold & wait to get at a better price.
This single weekly candle will get so many screwed faster than one...
I agree worm.

Its a big weekly candle and even if it plays out, one could of expected a pullback before going north.

Probabilities say north, but i have seen big hammers in a downtrend get completely ignored, as price just keeps going down. Same in an uptrend.
  • #204,264
  • Mar 8, 2010 12:03pm Mar 8, 2010 12:03pm
thanks...magix....
  • #204,265
  • Mar 8, 2010 12:04pm Mar 8, 2010 12:04pm
Price on the Cable has dropped down since earlier this morning, and has now entered me Long @ 1.5068. I would like to see some buying pressure over the past few days continue. I will be looking to reduce my risk whenever possible.
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  • #204,266
  • Mar 8, 2010 12:06pm Mar 8, 2010 12:06pm
Quoting wormboy
I'm not magix but I hope you dont mind me saying.
The weekly pin was 400 pip wide & topped dead on 50% retrace on the H4.
Plenty to make in between a single 400 pip candle before it plays out, IF it ever plays out imho. A single candle is just a warning, it's not a strong confirmation. Remember the daily hammer you said price wouldn't go below @5330. Well this is no different.
Today was a good example. 150 drop off the top. One could've easily sold & wait to get at a better price.
This single weekly candle will get so many screwed faster than...
Agreed. That is a possibility. That's my point on this board. Consider all the possibilities and then trade what you see. Last week being that it's a 61% retrace level, even though counter trend I was cautious when selling and more liberal with my buying. As of right now I think the bullish pressure I expected may not be there meaning that I'm now equally cautious with my buying. No absolutes but considering all possibilities and trading highest probability set ups.
  • #204,267
  • Mar 8, 2010 12:07pm Mar 8, 2010 12:07pm
Quoting forexlion
weekly long ????? how ??

DOS THE CAMEL FLY


http://www.forexfactory.com/showpost...stcount=203916
  • #204,268
  • Mar 8, 2010 12:10pm Mar 8, 2010 12:10pm
Quoting JRoyal
Well if you look back through my post I've never said anything to be a absolute....
Just saying, if you are going to add anything to this board, maybe peppering it with tainted logic, and insults and words that smack of grandeur and superiority isn't going to win you any merit badges with some of us.

DT, that guy would have your back just for going against me, but in as far as I could ever tell, that guy is a lot like you. Trading off gut feelings and ignoring what the market is actually saying.

This isn't to start a war. Why is it so many of you have an issue with that?

I am not saying that I am better, though I have issued challenge to others, I really don't think this would accomplish anything accepting the fact that they could lick their wounds and retreat to a place where people buy bullshit.

What I am trying to do, is help people.

And if this offends you sir, than yes, I agree, your rants have gone on long enough and really haven't offered anything, let's leave it as your decision....

Shake the chip off your shoulder and join in with our merry band of reprobates, maybe learn a thing or two....or I will gladly refund your price of admission as you find your way to the egress.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #204,269
  • Mar 8, 2010 12:11pm Mar 8, 2010 12:11pm
Quoting wormboy
I'm not magix but I hope you dont mind me saying.
The weekly pin was 400 pip wide & topped dead on 50% retrace on the H4.
Plenty to make in between a single 400 pip candle before it plays out, IF it ever plays out imho. A single candle is just a warning, it's not a strong confirmation. Remember the daily hammer you said price wouldn't go below @5330. Well this is no different.
Today was a good example. 150 drop off the top. One could've easily sold & wait to get at a better price.
This single weekly candle will get so many screwed faster than...

azim u know i hear you..but this bar is good i think its at 61.8 retrace and the rejection is off 1.50..and i think thats a very valid support..theres confluence at least..

notice the traingle..price breeched it and appear to have met the target, is possible this mofo could go back to test (pullback to breakout point)

im looking to hold this trade and i suspect usd trend hasnt actually changed just got a huge correction and the mofo was in freefall..i know the wick is long 400+ pips but this represents buying power..the longer the better


i do understand where your coming from thou..its a trade where the risk for u isnt worth a consideration and dailly being bearish today im hoping is a trap..time gonna prove what is gonna happen
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  • #204,270
  • Mar 8, 2010 12:16pm Mar 8, 2010 12:16pm
Quoting wormboy
I'm not magix but I hope you dont mind me saying.
The weekly pin was 400 pip wide & topped dead on 50% retrace on the H4.
Plenty to make in between a single 400 pip candle before it plays out, IF it ever plays out imho. A single candle is just a warning, it's not a strong confirmation. Remember the daily hammer you said price wouldn't go below @5330. Well this is no different.
Today was a good example. 150 drop off the top. One could've easily sold & wait to get at a better price.
This single weekly candle will get so many screwed faster than...
Nothing to add,

Peter
Jesus Christ is my only Lord !
  • #204,271
  • Mar 8, 2010 12:17pm Mar 8, 2010 12:17pm
Hi Navin,

Great to see You !!!

Peter
Jesus Christ is my only Lord !
  • #204,272
  • Mar 8, 2010 12:17pm Mar 8, 2010 12:17pm
Touch and go here my friends.

The H4 has stopped looking happy, and the 1m is holding on a thread for confirmation....

A breach below the 5m support and we could be digging a new basement.

Of course, this time of day, we could see an 8 hour channel....

Set your stops accordingly.

I have exited longs and look to go short if we confirm.

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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #204,273
  • Mar 8, 2010 12:19pm Mar 8, 2010 12:19pm
Quoting Magix
Just saying, if you are going to add anything to this board, maybe peppering it with tainted logic, and insults and words that smack of grandeur and superiority isn't going to win you any merit badges with some of us.

DT, that guy would have your back just for going against me, but in as far as I could ever tell, that guy is a lot like you....

What I'm trying to figure out is what insults, smack talk, and superiority acts have I displayed. You called my logic tainted and I never insulted you. My logic is quite often wrong but I've never been disrespectful or claimed to be superior to anyone on this board. You took offence to something I said somewhere along the way but I really just don't get it. Your making me out to be some self proclaimed prophet or something. I just post my opinion on the market and that's it.
  • #204,274
  • Mar 8, 2010 12:19pm Mar 8, 2010 12:19pm
Quoting hipcio
Hi Navin,

Great to see You !!!

Peter

u too buddy..did u play this pin peter?
  • #204,275
  • Mar 8, 2010 12:24pm Mar 8, 2010 12:24pm
Quoting nAVIN2007
u too buddy..did u play this pin peter?

U better do not ask me what do I play... I am coming back from a far journey north



Peter
Jesus Christ is my only Lord !
  • #204,276
  • Mar 8, 2010 12:25pm Mar 8, 2010 12:25pm
Quoting JRoyal
What I'm trying to figure out is what insults, smack talk, and superiority acts have I displayed. You called my logic tainted and I never insulted you. My logic is quite often wrong but I've never been disrespectful or claimed to be superior to anyone on this board. You took offence to something I said somewhere along the way but I really just don't get it. Your making me out to be some self proclaimed prophet or something. I just post my opinion on the market and that's it.
sometimes words on a forum can be taken out of context.
  • #204,277
  • Mar 8, 2010 12:25pm Mar 8, 2010 12:25pm
Quoting hipcio
U better do not ask me what do I play... I am coming back from far journey north



Peter

  • #204,278
  • Mar 8, 2010 12:32pm Mar 8, 2010 12:32pm
Quoting alex1976
lion, im not looking at big targets. Im just looking at long to at least 1.5350 or so.

Thats my target.

Where it goes after that if it reaches that, is anyone's guess.
place buy stop @ 1.52 nothing before it
  • #204,279
  • Mar 8, 2010 12:33pm Mar 8, 2010 12:33pm
Quoting nAVIN2007
azim u know i hear you..but this bar is good i think its at 61.8 retrace and the rejection is off 1.50..and i think thats a very valid support..theres confluence at least..

notice the traingle..price breeched it and appear to have met the target, is possible this mofo could go back to test (pullback to breakout point)

im looking to hold this trade and i suspect usd trend hasnt actually changed just got a huge correction and the mofo was in freefall..i know the wick is long 400+ pips but this represents buying power..the longer the better


i do...
Hey nav
Valid arguments bro, but there's a reason why I am only taking one day at a time currently with cable.
Here's the monthly gbplfx, although pulling back, it did make a new low which had surpassed the lowest point set back in 08 during the crash.
Plus the weekly dx is still very much undecided, hovering between key fib levels. If anything, the cable weekly pinbar could be the laid trap to sucker buyers in. Who knows. I just think till the larger tf shows confirmation, taking day trades off smaller tf is much safer if not more profitable.
Ever seen a close as weekly pinbar one week, then close bearish the next week without taking out the lows ... only to fly up weeks after that? I've seen it. Shame to waste a whole week just waiting imho bro
Anyway, have a good one bro! I'm trading both ways till a clear direction is confirmed
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Thank You
  • #204,280
  • Mar 8, 2010 12:33pm Mar 8, 2010 12:33pm
Quoting fxvoilaaa
sometimes words on a forum can be taken out of context.
apparently
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