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Cable Update (GBPUSD)

  • #236,121
  • Jul 7, 2010 6:07am Jul 7, 2010 6:07am
Quoting cloggie
Ooops, all trolls look the same to me......
you know what a troll look like
  • #236,122
  • Jul 7, 2010 6:08am Jul 7, 2010 6:08am
Quoting Bull_Bear
Dame Wormie 19K, you the da man

Buy me a beer dude.
Q, I have a keg for you. Do you want it bro?
Thank You
  • #236,123
  • Jul 7, 2010 6:08am Jul 7, 2010 6:08am
Quoting cloggie
OK, but have a look at your weekly, that should change your bias a bit.
Not really .. the bear flag is there as well ..
There is a .23 fib from the high in 2007 .. at .5290 which could mean the 53 target so many are talking about could play out .. but then she either needs to seriously break out, or I just see a lot more downside.
Corrections welcome
******************* I'd rather make money than be right.
  • #236,124
  • Jul 7, 2010 6:08am Jul 7, 2010 6:08am
Quoting 4xStar
Look at this big bearish flag on daily .. already started to play out a bit...
and it hit the .38 retracement of the move from November.

Big picture looks like the pound may be toast in the near future...

A good flag will see a test of the 61.8 of the pole and a clear bounce, once a flag goes beyond the 61.8 level it loses meaning.
  • #236,125
  • Jul 7, 2010 6:10am Jul 7, 2010 6:10am
Quoting wormboy
good chart. don't forget to highlight that there is a possibility of a bearish divergence in the works on your ao. Hasn't triggered yet, but it's worth to keep an eye on.
Thanks ... duly noted
I don't trade these longer term charts, but just trying to learn to see the bigger picture & keep it in mind while trading the 15-60 min.
******************* I'd rather make money than be right.
  • #236,126
  • Jul 7, 2010 6:10am Jul 7, 2010 6:10am
Quoting fxoxford
yes posting chart's is very simple and no i didn't meant to be defensive. what will posting a chart do for you or other traders in this thread, i have seen 1,000's of chart poster in here, if i was a newbie it wound't do me any good, but if that what you want to do to explain your trades thats cool.
Alright hot shot FF are for people sharing trading ideas and promote learning amongst a group of people. What value do you offer by posting your account details (not knowing it's validity).

Your self worth, you already know, no point parading it.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #236,127
  • Jul 7, 2010 6:13am Jul 7, 2010 6:13am
Quoting wormboy
Q, I have a keg for you. Do you want it bro?
Your a stingy arse, 19K and only one keg
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #236,128
  • Jul 7, 2010 6:15am Jul 7, 2010 6:15am
Quoting cloggie
A good flag will see a test of the 61.8 of the pole and a clear bounce, once a flag goes beyond the 61.8 level it loses meaning.
Hmm... ok, I see that .. it retraced too far back up so ... basically anything could happen
******************* I'd rather make money than be right.
  • #236,129
  • Jul 7, 2010 6:18am Jul 7, 2010 6:18am
Quoting Bull_Bear
Alright hot shot FF are for people sharing trading ideas and promote learning amongst a group of people. What value do you offer by posting your account details (not knowing it's validity).

Your self worth, you already know, no point parading it.
what have you learn , good luck
  • #236,130
  • Jul 7, 2010 6:19am Jul 7, 2010 6:19am
Quoting 4xStar
Thanks ... duly noted
I don't trade these longer term charts, but just trying to learn to see the bigger picture & keep it in mind while trading the 15-60 min.
understood. i take trades off the m5/m1 myself but it helps greatly to always look at the htf ie highlighting important s/r level before pulling the trigger from the the ltf. And divergences on the htf, if used correctly is almost like cheating. you'd be able to see the move a mile away & most of the time will be able to get onto those big rides before it unfolds. Yes, picking tops & bottoms with a greater chance of success

Here is an example of spotting the move on the htf before they happen:
1. http://www.forexfactory.com/showpost...postcount=7455

Good luck to you
Thank You
  • #236,131
  • Jul 7, 2010 6:22am Jul 7, 2010 6:22am
gonna get ready to head to the office the world needs palm oil, im long 1.5mill deep don't know how long i will hold just to make chump change this week. here's my trade.
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  • #236,132
  • Jul 7, 2010 6:22am Jul 7, 2010 6:22am
Quoting 4xStar
Hmm... ok, I see that .. it retraced too far back up so ... basically anything could happen

Once a flag continues beyond the 61.8 of the pole or roughly 3 weeks on the daily it becomes a channel and the probability of a breakout diminishes significantly by the day.

Another way of looking at this was that originally it was a bear flag and we had a breakout on the 4th of June that failed as it did not move beyond the 38.2 of the pole and then formed a parallel channel, at that point the flag seized to exist.
  • #236,133
  • Jul 7, 2010 6:24am Jul 7, 2010 6:24am
Quoting fxoxford
what have you learn , good luck
Your always learning...

I done wasting valuable time today.

Good Luck to your millions
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #236,134
  • Jul 7, 2010 6:24am Jul 7, 2010 6:24am
Quoting Bull_Bear
Your a stingy arse, 19K and only one keg
it's a very big keg
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Thank You
  • #236,135
  • Jul 7, 2010 6:27am Jul 7, 2010 6:27am
Quoting Bull_Bear
Your always learning...

I done wasting valuable time today.

Good Luck to your millions
any business you get into you never stop learning, just finding the wright place to get the info is the key, any way good luck on your schooling
  • #236,136
  • Jul 7, 2010 6:27am Jul 7, 2010 6:27am
Confluence is king, at the current daily low we had a previous 1hr/4hr swing lo=prev support=potential support zone (ie a fractal swin g low that showed an area of previous near-term demand imbalance over supply where prices rose sharply) add to this the Daily S1 pivot and the 100sma on 1hr and that is a confluence of potential support factors....5min bullish divergence on the oscillators and a great 15min and 30min candle combo triggers and that is a hi-probability trading opportunity.

3 words that sum up hi-probability trading:
Confluence,
Confluence,
Confluence,


G/L
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ex member
  • #236,137
  • Jul 7, 2010 6:29am Jul 7, 2010 6:29am
azim and quan go on skype for a sec..
  • #236,138
  • Jul 7, 2010 6:31am Jul 7, 2010 6:31am
Failed flag on the daily. So yes we had a flag, we had a break out, it could not reach the 38.2 extension so it formed a channel instead, which is now confirmed because it has gone beyond the 61.8 retrace of the original flagpole. This is now the second failed flag on the daily this year. This does not mean that a new flagpole cannot form, however that would be a new pattern. Compare that to the bear flag at the end of last year, it formed, it tested and respected the retrace to 61.8, it broke, went past 38.2 extension and continued for 1000 pips.
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  • #236,139
  • Jul 7, 2010 6:35am Jul 7, 2010 6:35am
Quoting wormboy
it's a very big keg
Take this...
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Veni, Vidi, Vici (We came, we saw, we conquered)
  • #236,140
  • Jul 7, 2010 6:48am Jul 7, 2010 6:48am
Sofar bullish trend failed to break the strong resistance on M15/200 ( 1.5138) and DP 07.00 am GMT + 7 ( 1.5154).
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