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Cable Update (GBPUSD)

  • #216,661
  • Apr 13, 2010 6:33am Apr 13, 2010 6:33am
Quoting sensei
hold on..I will post a chart for you..gotto go to my other machine....

ok, here we go P/P....sloss at blue horizontal line...23.6 fib level...see the retrace forming that I mentioned?

Attached Image (click to enlarge)
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  • #216,662
  • Apr 13, 2010 6:34am Apr 13, 2010 6:34am
Quoting sensei
helloo..sorry for late reply....it's point and figure, A-Spec...I dont really look for traditional patterns like flags and pennants, but maybe I should look into that now that you bring it up....havent done so in the past as there are easier ways on P&F to get direction etc thru just looking at price
action...hope that helps!
Woo.. how can you call candlestick traditional chart? They've been using point&figure since someone invented the graph paper. Anyway, I know P&P chart, been using it like 2-3 years ago and i can say, there's nothing wrong with it.. it's just too conservative for me. I don't encourage you to change your method. Just use whatever method that's work for you. That's all.
  • #216,663
  • Apr 13, 2010 6:34am Apr 13, 2010 6:34am
Quoting wormboy
i won't. once this sucker touches 5500, i'll hold it out till 5800
Dame bro, that will be one hell of a ride

1.5540 for me than reaccess....
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #216,664
  • Apr 13, 2010 6:35am Apr 13, 2010 6:35am
Here you go pawpaw, expecting retrace to 54082
Attached Image (click to enlarge)
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  • #216,665
  • Apr 13, 2010 6:36am Apr 13, 2010 6:36am
Quoting sensei

ok, here we go P/P....sloss at blue horizontal line...23.6 fib level...see the retrace forming that I mentioned?

aah, ok... so you reckon we will be able to break the upper tl?
@pawpaw1000 on Twitter
  • #216,666
  • Apr 13, 2010 6:38am Apr 13, 2010 6:38am
thanks guys,

And heres mine...

Worked perfectly to the point of a pip!!!
Attached Image (click to enlarge)
Click to Enlarge Name: fibo.png Size: 66 KB
@pawpaw1000 on Twitter
  • #216,667
  • Apr 13, 2010 6:39am Apr 13, 2010 6:39am
Interesting, she behaved exactly the same way on the last (5 min) bull flag a couple of hours ago .. big drop down then right back up again .. let's see what happens this time. I got a small long position on the drop.
******************* I'd rather make money than be right.
  • #216,668
  • Apr 13, 2010 6:39am Apr 13, 2010 6:39am
Darn, I need to become more professional with my charts!!!
@pawpaw1000 on Twitter
  • #216,669
  • Apr 13, 2010 6:40am Apr 13, 2010 6:40am
Quoting Bull_Bear
Dame bro, that will be one hell of a ride

1.5540 for me than reaccess....
Good one bro.. Valid resistance.
  • #216,670
  • Apr 13, 2010 6:40am Apr 13, 2010 6:40am
Quoting A-speculator
Woo.. how can you call candlestick traditional chart? They've been using point&figure since someone invented the graph paper. Anyway, I know P&P chart, been using it like 2-3 years ago and i can say, there's nothing wrong with it.. it's just too conservative for me. I don't encourage you to change your method. Just use whatever method that's work for you. That's all.
I wasnt knocking trad charts, and I didnt say it's my only trading tool..I use it as part of my toolbox, my main trading method is a matrix method based on my own proprietary set of tools... I use P&F alongside of this in order to get an instant helicopter view of price action. If you read my discussion with Paw Paw you will see that I was able to predict a strong
retracement of the upmove..... hope this explains it!
  • #216,671
  • Apr 13, 2010 6:40am Apr 13, 2010 6:40am
Quoting pawpaw1000
thanks guys,

And heres mine...

Worked perfectly to the point of a pip!!!

Good, now play with this on all your TF's and make notes of the levels, especially on H1 and H4 and you will have some important levels to add to your toolbox to watch.
  • #216,672
  • Apr 13, 2010 6:41am Apr 13, 2010 6:41am
short 5390
  • #216,673
  • Apr 13, 2010 6:42am Apr 13, 2010 6:42am
Quoting cloggie
See, every week we are adding to your toolbox.


But, of course. And Paw is not the only one stuffing his toolbox.

Ride on Cloggie. U are the numero uno
  • #216,674
  • Apr 13, 2010 6:42am Apr 13, 2010 6:42am
Quoting sensei
I wasnt knocking trad charts, and I didnt say it's my only trading tool..I use it as part of my toolbox, my main trading method is a matrix method based on my own proprietary set of tools... I use P&F alongside of this in order to get an instant helicopter view of price action. If you read my discussion with Paw Paw you will see that I was able to predict a strong
retracement of the upmove..... hope this explains it!
Don't get me wrong mate... i'm just kidding..
  • #216,675
  • Apr 13, 2010 6:43am Apr 13, 2010 6:43am
Quoting Bull_Bear
Dame bro, that will be one hell of a ride

1.5540 for me than reaccess....
Yep, at the small res level. Don't think that level will give much trouble imho.
Thank You
  • #216,676
  • Apr 13, 2010 6:44am Apr 13, 2010 6:44am
Quoting pawpaw1000
aah, ok... so you reckon we will be able to break the upper tl?

sensei thinks it's time to invoke patience, and (i) wait till price rises above the trendline (1.5436 area) and (ii) I wont trade until after the news this afternoon....
  • #216,677
  • Apr 13, 2010 6:46am Apr 13, 2010 6:46am
still no break no shack enjoy the ride
  • #216,678
  • Apr 13, 2010 6:47am Apr 13, 2010 6:47am
The triggering of this 15min hammer targets the box for longs
[slight caveat, you are buying into tweezer top on that t/f..!!) so a riskier trade. Hasn't triggered yet so will see what happens


G/L
Attached Image
ex member
  • #216,679
  • Apr 13, 2010 6:47am Apr 13, 2010 6:47am
Quoting kill56
still no break no shack enjoy the ride
it's taken. we go up
Thank You
  • #216,680
  • Apr 13, 2010 6:48am Apr 13, 2010 6:48am
Got my buy limit order at 1.5290. Holding my short until 1.5310
SCARED MONEY NEVER DOES GOOD IN FOREX
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