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Cable Update (GBPUSD)

  • #236,581
  • Jul 8, 2010 1:26pm Jul 8, 2010 1:26pm
Quoting StarChild
Hi...I appreciate all of your great info..this site is so helpful...I am not sure that I agree with your wave count..I have been studying EW for awhile now..it is my understanding that wave 4 cannot be lower than top of wave one...also wave 2 cannot be lower than the beginning of wave 1...
lol I see what your saying but its because I marked the number at the end of the wave instead of the begining & as for the rule of wave 4 not going into wave 1 its also well known that as long as it does not penetrate & close into wave 1 but it can make a spike into wave 1 & it can olso over lap 5 pips because you have diffrent platforms & diffrent prices so you can never get it perfect, because what could be perfect on your platform penetrates a few pips on mine.
Attached Image (click to enlarge)
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  • #236,582
  • Jul 8, 2010 1:33pm Jul 8, 2010 1:33pm
could be a bullish flag..its consolidating like crazy, tomorrow if it doesnt sink..it should be clear to heading higher up!!!

time gonna tell
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: trade3.gif Size: 26 KB
  • #236,583
  • Edited 1:52pm Jul 8, 2010 1:39pm | Edited 1:52pm
Hi all,

Good to see trades looking for the 1.55 level again - it's been a while! Thinking about a trade to 1.5338 (+190 pips) with a stop loss set for 1.5075 (-65 pips) based on support and resistance, Fibonacci retracements and the settle-down the market has experienced since the start of the month. It's tested the 1.5080 level twice now, both to no avail. Seems strong.

Edit: Navin, great chart above - thanks. Will hold out until July 10 before placing the trade based on the second attachment. Looks like the market has waited for this one for a long time. Could see some great bullish price action tomorrow.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screen shot 2010-07-08 at 19.34.08.png Size: 39 KB
Click to Enlarge Name: Screen shot 2010-07-08 at 19.51.02.png Size: 46 KB
  • #236,584
  • Jul 8, 2010 1:40pm Jul 8, 2010 1:40pm
I unfortunatly see a possible ABCD setup??? D at 1.5330 area???

Quoting Allseeingeye
lol I see what your saying but its because I marked the number at the end of the wave instead of the begining & as for the rule of wave 4 not going into wave 1 its also well known that as long as it does not penetrate & close into wave 1 but it can make a spike into wave 1 & it can olso over lap 5 pips because you have diffrent platforms & diffrent prices so you can never get it perfect, because what could be perfect on your platform penetrates a few pips on mine.
Attached Image (click to enlarge)
Click to Enlarge Name: Chart101.JPG Size: 137 KB
  • #236,585
  • Jul 8, 2010 1:43pm Jul 8, 2010 1:43pm
Quoting nAVIN2007
could be a bullish flag..its consolidating like crazy, tomorrow if it doesnt sink..it should be clear to heading higher up!!!

time gonna tell
"If any one not sure better no trade"
Catch you later
  • #236,586
  • Jul 8, 2010 1:46pm Jul 8, 2010 1:46pm
Quoting StarChild
I unfortunatly see a possible ABCD setup??? D at 1.5330 area???
whats the diffrance we can call it XYZ its still going to the same place 1.53-1.55 then BIG DOWN to 1.45
  • #236,587
  • Jul 8, 2010 1:50pm Jul 8, 2010 1:50pm
I agree..no difference at all..we are in agreement!! LOL!

Quoting Allseeingeye
whats the diffrance we can call it XYZ its still going to the same place 1.53-1.55 then BIG DOWN to 1.45
  • #236,588
  • Jul 8, 2010 1:54pm Jul 8, 2010 1:54pm
Quoting nAVIN2007
could be a bullish flag..its consolidating like crazy, tomorrow if it doesnt sink..it should be clear to heading higher up!!!

time gonna tell

hey bro

can we look at it this way
Attached Image (click to enlarge)
Click to Enlarge Name: 4h cable.gif Size: 16 KB
  • #236,589
  • Jul 8, 2010 1:58pm Jul 8, 2010 1:58pm
Yep.. I am with you guys who are thinking long. I was ready to jump in earlier long, but did not get a clear enough signal, though my lower parameters were reached. I am now thinking that we may see another downward push to the 1.51000 area, before we head back north. In fact, hoping to have a nice clear signal south within the next few hours, but we shall see.

We've had pretty nice clear signals for most of the week on tops and bottoms, but today's bottom signal was just not good enough for me to enter.. hopefully we will see it retest and I will get another crack at it!

Out for now!
"Keep your eyes on the helpers" - Mr. Rogers
  • #236,590
  • Jul 8, 2010 2:01pm Jul 8, 2010 2:01pm
Quoting kill56
hey bro

can we look at it this way

I have been wondering that as well... shouldn't we test that lower TL first?
"Keep your eyes on the helpers" - Mr. Rogers
  • #236,591
  • Jul 8, 2010 2:03pm Jul 8, 2010 2:03pm
plz guys look at this chart and tell me what u think
Attached Image (click to enlarge)
Click to Enlarge Name: daily cable.gif Size: 44 KB
  • #236,592
  • Jul 8, 2010 2:06pm Jul 8, 2010 2:06pm
Quoting damonl
I have been wondering that as well... shouldn't we test that lower TL first?
i think we are stuck in this doomed range

in the other hand it dos make higher highs lets see where they wana take it
  • #236,593
  • Jul 8, 2010 2:10pm Jul 8, 2010 2:10pm
Quoting kill56
plz guys look at this chart and tell me what u think
i see alot of pink arrows & nothing else, kill these kind of charts KILL me! Sorry no offence but I am an OLD GEEZER when it comes to trading, talk to me about Waves Fibs APF's Trendlines Wolfe Waves & all the Patterns but when it comes to all these BELLS & WHISTLES I get Turned OFF! So please explain to me what I am supposed to see so I can tell you if I see the same thing, I will tell you this Daily is ready to COLLAPSE.
  • #236,594
  • Jul 8, 2010 2:11pm Jul 8, 2010 2:11pm
Those fractal look really nice to me..On this daily chart we are at 76% fib retracement..pa below 144ema ..MacD pointing down....it just needs to break the trend line..
Quoting kill56
plz guys look at this chart and tell me what u think
Attached Image (click to enlarge)
Click to Enlarge Name: Chart146.JPG Size: 156 KB
  • #236,595
  • Jul 8, 2010 2:15pm Jul 8, 2010 2:15pm
Quoting kill56
hey bro

can we look at it this way

i think it is a bull flag brother! ..something is keeping it up! im lucky i got 2 positions in and safe pretty much but i wont want to try pick a direction cause its kinda 50% each way..

the market will go where it want too and at this point its not clear at all

if u not in best stay out
  • #236,596
  • Jul 8, 2010 2:20pm Jul 8, 2010 2:20pm
Quoting StarChild
Those fractal look really nice to me..On this daily chart we are at 76% fib retracement..pa below 144ema ..MacD pointing down....it just needs to break the trend line..
thanks can we use it for wave count or not
  • #236,597
  • Jul 8, 2010 2:26pm Jul 8, 2010 2:26pm
Yes and no..too many fractals..but the count is correct if you do away with the middle two on the bottom..IMHI
Quoting kill56
thanks can we use it for wave count or not
  • #236,598
  • Jul 8, 2010 2:28pm Jul 8, 2010 2:28pm
Quoting StarChild
Yes and no..too many fractals..but the count is correct if you do away with the middle two on the bottom..IMHI

Ah, this one of those where you do away with part of your signals so your other signals work?

Blimey this is becoming a lovely collection of various christmas trees, nothing I can contribute here unless we start talking about price.
  • #236,599
  • Jul 8, 2010 2:29pm Jul 8, 2010 2:29pm
Quoting Allseeingeye
i see alot of pink arrows & nothing else, kill these kind of charts KILL me! Sorry no offence but I am an OLD GEEZER when it comes to trading, talk to me about Waves Fibs APF's Trendlines Wolfe Waves & all the Patterns but when it comes to all these BELLS & WHISTLES I get Turned OFF! So please explain to me what I am supposed to see so I can tell you if I see the same thing, I will tell you this Daily is ready to COLLAPSE.
i am not realy good at waves and i thought i use it for wave count thanks man
  • #236,600
  • Jul 8, 2010 2:33pm Jul 8, 2010 2:33pm
Quoting StarChild
Yes and no..too many fractals..but the count is correct if you do away with the middle two on the bottom..IMHI

dos this looks better
Attached Image (click to enlarge)
Click to Enlarge Name: daily cable.gif Size: 29 KB
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