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Cable Update (GBPUSD)

  • #236,141
  • Jul 7, 2010 6:50am Jul 7, 2010 6:50am
I see it now ... awesome, thanks

Much better than looking at someone's (photoshopped) account statements

Quoting cloggie
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...
******************* I'd rather make money than be right.
  • #236,142
  • Jul 7, 2010 6:55am Jul 7, 2010 6:55am
I keep recycling the same charts this week, but as long as it makes you money stick to it:
Attached Image(s) (click to enlarge)
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  • #236,143
  • Jul 7, 2010 6:56am Jul 7, 2010 6:56am
If by the winter time oil is 5% up and usd 5% down i will buy usd and will be 2.5% up in total
  • #236,144
  • Jul 7, 2010 7:02am Jul 7, 2010 7:02am
Quoting wormboy
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
I don't see the divergence on the RSI, it looks the same .. also when I put the AO on the same chart, could not see divergence (should be a higher low as price making lower low, right?)
******************* I'd rather make money than be right.
  • #236,145
  • Jul 7, 2010 7:03am Jul 7, 2010 7:03am
Quoting meromar
If by the winter time oil is 5% up and usd 5% down i will buy usd and will be 2.5% up in total
Is there an echo in here?
******************* I'd rather make money than be right.
  • #236,146
  • Jul 7, 2010 7:04am Jul 7, 2010 7:04am
Quoting 4xStar
I don't see the divergence

Here you go: (you could have used that as another confirmation of the bear flag failure we discussed)
Attached Image (click to enlarge)
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  • #236,147
  • Jul 7, 2010 7:08am Jul 7, 2010 7:08am
Quoting manize
Sofar bullish trend failed to break the strong resistance on M15/200 ( 1.5138) and DP 07.00 am GMT + 7 ( 1.5154).

hey bro how are u

we are still ranging between WL3 and WH3 we need a break of the WP
or WL3 enjoy the ride between both
  • #236,148
  • Jul 7, 2010 7:19am Jul 7, 2010 7:19am
Quoting cloggie
Here you go: (you could have used that as another confirmation of the bear flag failure we discussed)
Ah, ok .. it is a flatliine, not a higher low ... that also counts as divergence.
******************* I'd rather make money than be right.
  • #236,149
  • Edited 7:31am Jul 7, 2010 7:20am | Edited 7:31am
Quoting 4xStar
Ah, ok .. it is a flatliine, not a higher low ... that also counts as divergence.
And this:

But then again, I don't trade indicators like this, just price patterns and TL's with an occasional RVI/CCI. To me this is gobbldedygook. But it looks pretty. We need Wormy here to light up this christmas tree.....
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  • #236,150
  • Jul 7, 2010 7:34am Jul 7, 2010 7:34am
and this

this is the mentioned possible bearish divergence in the works. Hadn't triggered yet, but worth to be highlighted just in case.

Good luck
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Thank You
  • #236,151
  • Jul 7, 2010 7:35am Jul 7, 2010 7:35am
Quoting 4xStar
Ah, ok .. it is a flatliine, not a higher low ... that also counts as divergence.
yes it counts. the double bottom on the oscillator gave it away.
Thank You
  • #236,152
  • Jul 7, 2010 7:37am Jul 7, 2010 7:37am
Quoting wormboy
and this

this is the mentioned possible bearish divergence in the works. Hadn't triggered yet, but worth to be highlighted just in case.

Good luck

And even I am learning something here, still not going to use these laggy indicators though.........
  • #236,153
  • Jul 7, 2010 7:41am Jul 7, 2010 7:41am
Quoting cloggie
And even I am learning something here, still not going to use these laggy indicators though.........
me neither. I don't use them for entry confirmation etc, they're too slow.
But using them to spot divergences is usually effective
Thank You
  • #236,154
  • Jul 7, 2010 7:46am Jul 7, 2010 7:46am
We have had some lovely 40-60 pip runs on the M30 today, no indy required just play the TL's. But that's all there has been, still no proper longer term setup here.
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  • #236,155
  • Jul 7, 2010 7:55am Jul 7, 2010 7:55am
Quoting kill56
hey bro how are u

we are still ranging between WL3 and WH3 we need a break of the WP
or WL3 enjoy the ride between both
Hi bro .... nice to see you. Yes ... you're right , I am more doing scalp in the ranging area. As usual hit and run as far as greeny. Didn't care it is just only a few pips gain!
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #236,156
  • Jul 7, 2010 7:55am Jul 7, 2010 7:55am
Quoting cloggie
We have had some lovely 40-60 pip runs on the M30 today, no indy required just play the TL's. But that's all there has been, still no proper longer term setup here.
hitting the top of the channel means we should go short in this case?
  • #236,157
  • Jul 7, 2010 8:03am Jul 7, 2010 8:03am
the channel was broke, and I went long
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  • #236,158
  • Jul 7, 2010 8:03am Jul 7, 2010 8:03am
Quoting baruch
hitting the top of the channel means we should go short in this case?

Not yet, the price will tell you when she is ready.
  • #236,159
  • Jul 7, 2010 8:04am Jul 7, 2010 8:04am
Quoting baruch
the channel was broke, and I went long

Well, it was definitely pierced, would not call that "broke" though.
  • #236,160
  • Jul 7, 2010 8:05am Jul 7, 2010 8:05am
so should I consider "broke" when the candle close after the channel?
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