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Cable Update (GBPUSD)

  • #223,701
  • May 4, 2010 10:31pm May 4, 2010 10:31pm
Quoting malcolmb14
US stock market could be broken

it is really volatile this last week with huge daily ranges , last we saw this ES dropped 10% in days

this alone may take gu down and the reason i am trading es these last few days
i think dow is going bellow 10000 look at weekly
  • #223,702
  • May 4, 2010 10:34pm May 4, 2010 10:34pm
Quoting kill56
i think dow is going bellow 10000 look at weekly
Americans are the worst hitters they can do anythng to manipulate the world markets
  • #223,703
  • May 4, 2010 10:35pm May 4, 2010 10:35pm
Quoting kill56
i think dow is going bellow 10000 look at weekly

I hope so ... not to make longs lose money , but to have a more normal market behave of up moves with decent corrections , this vertical shit we have had is just bad in the long run and is bubble like , the move down when these burst are just to hard on the economy
Blogging daily now at www.volume.zone
  • #223,704
  • May 4, 2010 10:39pm May 4, 2010 10:39pm
i would like to set up template for your snow white
i am unable to open zips with this laptop
could u show me ur indicators for download??

thx
farmhand
  • #223,705
  • May 4, 2010 10:39pm May 4, 2010 10:39pm
Quoting Magix
Ouch.
Kinda nutted that one....or perhaps got nutted by that one...


Yaa .. I'm probably nut. But that chart is M1 .. I traded based on D1 charts ...
  • #223,706
  • May 4, 2010 10:46pm May 4, 2010 10:46pm
Quoting farmhand
i would like to set up template for your snow white
i am unable to open zips with this laptop
could u show me ur indicators for download??

thx
farmhand
All lines in this route are busy, please try next year
  • #223,707
  • May 4, 2010 10:48pm May 4, 2010 10:48pm
really appreciate ur kindness
  • #223,708
  • May 4, 2010 10:51pm May 4, 2010 10:51pm
Quoting luqmanz


Yaa .. I'm probably nut. But that chart is M1 .. I traded based on D1 charts ...
Kewl, show me the daily chart that shows support. I would like to see what you are looking at.

From what I see...we have created a new low today. How do you gauge a daily support, when support hasn't been tested?
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #223,709
  • May 4, 2010 11:28pm May 4, 2010 11:28pm
Quoting Magix
Kewl, show me the daily chart that shows support. I would like to see what you are looking at.

From what I see...we have created a new low today. How do you gauge a daily support, when support hasn't been tested?
see

i got very strrrrong support there

price bounced so neatly


god i pray he does not see the timeframe

http://img80.imageshack.us/img80/1043/cable.gif
  • #223,710
  • May 4, 2010 11:48pm May 4, 2010 11:48pm
Quoting forexlion
All lines in this route are busy, please try next year
wow...what an asshole...
  • #223,711
  • May 4, 2010 11:50pm May 4, 2010 11:50pm
Quoting Magix
Kewl, show me the daily chart that shows support. I would like to see what you are looking at.

From what I see...we have created a new low today. How do you gauge a daily support, when support hasn't been tested?
Here you go .. .sharing is caring .... not saying that I'm right .. it seems to me like it's a good bet .... betting is all we can do in this business.
Attached Image (click to enlarge)
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  • #223,712
  • May 4, 2010 11:53pm May 4, 2010 11:53pm
Quoting forexlion
see

i got very strrrrong support there

price bounced so neatly


god i pray he does not see the timeframe

http://img80.imageshack.us/img80/1043/cable.gif
LOL ... another M1 charts .... *blinded*
  • #223,713
  • May 4, 2010 11:54pm May 4, 2010 11:54pm
Quoting forexlion
see

i got very strrrrong support there

price bounced so neatly


god i pray he does not see the timeframe

http://img80.imageshack.us/img80/1043/cable.gif
I see a lot of confusion created by people misreading charts. I have been accused of playing off simple charts and laggy indicators, which is fine, it works, I will run with it. The point is, that just because I have a select system doesn't mean that I don't understand the rest of chart reading, I just use the bits and pieces as they apply.

Guessing bottoms and tops is expensive.

Especially when you fail on simple concepts. A new daily low, no new high is a short cycle. IF the low is tested and rejected then a cautious long cycle may be in play. We have the benefit of trading off of the lower time frames, so, IF one was to want to guess a chart bottom, why try and do it off of a 180ish down candle? It's not exactly a pin.

Now, for those that play the longer term time frames, or claim to do so..whutever...the issue is the same.

Guessing tops and bottoms is foolish.

There are several ways to read charts, and because we have zillions of indicators and free tools to use, why not put them to some use?

Just my 2 cents.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #223,714
  • May 5, 2010 12:01am May 5, 2010 12:01am
Quoting luqmanz
LOL ... another M1 charts .... *blinded*
incidently

5100 was yesterdays and todays low, which needs to be takn out to continue shorts

M1 was just a camouflage to see if you get the bigger picture or not
  • #223,715
  • May 5, 2010 12:05am May 5, 2010 12:05am
Quoting forexlion
incidently

5100 was yesterdays and todays low, which needs to be takn out to continue shorts

M1 was just a camouflage to see if you get the bigger picture or not
here is the bigger picture without the M1 camouflage

http://img707.imageshack.us/img707/1043/cable.gif
  • #223,716
  • May 5, 2010 12:24am May 5, 2010 12:24am
Quoting Magix
I see a lot of confusion created by people misreading charts....
You have valid points. But in my humble opinion, no matter what price you buy/sell.. it's always a bottom or a top in at least 1 timeframe. It's a matter of
perspective.

The real edge is to know which price has the most observer. We need to know what are the prices where big orders (market) are probably sitting. The best reference for the market are the historical support and resistance.
  • #223,717
  • May 5, 2010 12:26am May 5, 2010 12:26am
Quoting forexlion
incidently

5100 was yesterdays and todays low, which needs to be takn out to continue shorts

M1 was just a camouflage to see if you get the bigger picture or not
I will be reversing my position if 5100 get taken out.
  • #223,718
  • May 5, 2010 12:32am May 5, 2010 12:32am
A little bird was flying south for the winter. It was so cold the bird froze and fell to the ground into a large field.
While he was lying there, a cow came by and dropped some dung on him.
As the frozen bird lay there in the pile of cow dung, he began to realize how warm he was.
The dung was actually thawing him out!
He lay there all warm and happy, and soon began to sing for joy.
A passing cat heard the bird singing and came to investigate.
Following the sound, the cat discovered the bird under the pile of cow dung, and promptly dug him out and ate him.
Morals of the story:
(1) Not everyone who shits on you is your enemy.
(2) Not everyone who gets you out of shit is your friend.
(3) And when you're in deep shit, it's best to keep your mouth shut!
  • #223,719
  • May 5, 2010 12:40am May 5, 2010 12:40am
hear, hear

Quoting forexlion
A little bird was flying south for the winter. It was so cold the bird froze and fell to the ground into a large field.
While he was lying there, a cow came by and dropped some dung on him.
As the frozen bird lay there in the pile of cow dung, he began to realize how warm he was.
The dung was actually thawing him out!
He lay there all warm and happy, and soon began to sing for joy.
A passing cat heard the bird singing and came to investigate.
Following the sound, the cat discovered the bird under the pile of cow dung, and promptly dug him...
"The real genius is knowing when to stop." - Marc Faber
  • #223,720
  • May 5, 2010 12:42am May 5, 2010 12:42am
i saw a bear
Attached Image (click to enlarge)
Click to Enlarge Name: 2.gif Size: 18 KB
Verily, in every difficulties there is relief
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