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Cable Update (GBPUSD)

  • #246,041
  • Aug 16, 2010 9:16pm Aug 16, 2010 9:16pm
Quoting fourxtrader
Breaking above the open (1.5662) and a touch of the
H1 (1.5676)...
this little compression - release move off of a 1m chart
for 25 pips is a good direction for the 30m and the 1h
CRS formations, disruptive to the 5m, 15m... and is like
[i][color=blue]a...
Here is what I am seeing doc.

Clear line of rejection on the retrace to the 200EMA on the hourly chart, and with a possible target of the 24SMA on the hourly being inside of the pivot chart, as this moves up, and if price comes down, this will be the line in the sand. Closing below would mean that we confirm and trigger down to the 200EMA on the H4 chart and I still have a daily 200EMA that needs to be closed on....sooooooooo....Enjoy the buys for what they offer but be aware that we are still riding a little to high without a proper support area build.

Hey, anything can happen, but as long as the red line is below the yellow line on my hourly, I am only going to cautiously play the longs.

Meh...
Attached Image (click to enlarge)
Click to Enlarge Name: hourly1.jpg Size: 96 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #246,042
  • Aug 16, 2010 9:22pm Aug 16, 2010 9:22pm
Far from trying to descredit you approch, isn't only after fact affirmation and can't be use for trading/entry?!?

It's like if you define what is truth and then go into you environnement and say "I found the truth".... but in fact you only found what you were searching for...

In short, is this really a knowledge or only after fact affirmation?!
How can you make accurate call whit this when you say yourself that no direction can be choose from it?

Im kinda confuse about what you trying to prove by your continious posting of this tech since I don't see how entry and exit can be define and this look more like a "oh that's what happen!" technic then "that's what will happen!"

Take care!
"Flip that coin!"
  • #246,043
  • Aug 16, 2010 9:31pm Aug 16, 2010 9:31pm
Quoting grashid
why not u just wait ~ 1.57-1.578 area..this is not a place to short...sound stupid to me if we short at support area n long at resistance area...

just patient n watch how London open bring us...just my 2 cent.
http://www.forexfactory.com/showpost...stcount=230646

and i am ..right now...see in London Open...should be interesting day today
  • #246,044
  • Aug 16, 2010 9:40pm Aug 16, 2010 9:40pm
Quoting grashid
http://www.forexfactory.com/showpost...stcount=230646

and i am ..right now...see in London Open...should be interesting day today
me too bro

this is headed to 5750 / 5850 zone before kaboom
  • #246,045
  • Aug 16, 2010 9:41pm Aug 16, 2010 9:41pm
Quoting Scipionz
Far from trying to descredit you approch, isin't only after fact affirmation and can't be use for trading/entry?!?

It's like if you define what is truth and then go into you environnement and say "I found the truth".... but in fact you only found what you were searching for...

In short, is this really a knowledge or only after fact affirmation?!
How can you make accurate call whit this when you say yourself that no direction can be choose from it?

Im kinda confuse about what you trying to prove by your continious posting of this tech since...
I believe you are referring to fourxtrader's posts. I've read about that system before. The lack of a defined entry signal drove me crazy. If it is a statistically viable system the drawdown from fakeouts may be too much for a noob to handle.

Having said that, the idea may be adapted to include other methods. Like Cloggie's method of entering above consolidation/resistance zones in the direction of trend.

The compression simply gives a heads up on when a breakout is approaching. Though drawing a triangle with trendlines may do the same job.
  • #246,046
  • Aug 16, 2010 9:42pm Aug 16, 2010 9:42pm
Price action to me is better taken entry with 1min & 10sec chart. Momentum look at 30min/1hr & 4hr.
GELORE
  • #246,047
  • Aug 16, 2010 9:46pm Aug 16, 2010 9:46pm
Quoting forexlion
me too bro

this is headed to 5750 / 5850 zone before kaboom
....but my 1.57 already hit target when i open my PC just now..so no new entry n just waiting..still holding EY n GY but look like flat..nothing happen
  • #246,048
  • Aug 16, 2010 9:48pm Aug 16, 2010 9:48pm
Quoting trending
I believe you are referring to fourxtrader's posts. I've read about that system before....
Just share and who know it will good for some one....

"Fundamentals will indicate the direction of a price but not exact prices. The chart analysis or technical analysis is better for that, so together you can really increase your chances of coming away with some pips"

"The reason technical analysis is so emphasized is that many traders use charts to trade and at any given time, will be drawing the same lines of resistance and same lines of support. So if you can read the charts well, you have an awesome chance of predicting market movements. The best way to learn about the effect of fundamentals is to learn one piece of economic data at a time. This will help you make better-educated trades"

This will elaborate between 5% winner vs 95% loser in FOREX Trading...believe me...its 100% true as what i experianced before...Just see my signature, it mentioned the same thing...avoid from mess indi n learn the basic candlistic formation..then step by step...good luck
  • #246,049
  • Aug 16, 2010 9:48pm Aug 16, 2010 9:48pm
Quoting Magix
Here is what I am seeing doc.

Clear line of rejection on the retrace to the 200EMA on the hourly chart, and with a possible target of the 24SMA on the hourly being inside of the pivot chart, as this moves up, and if price comes down, this will be the line in the sand. Closing below would mean that we confirm and trigger down to the 200EMA on the H4 chart and I still have a daily 200EMA that needs to be closed on....sooooooooo....Enjoy the buys for what they offer but be aware that we are still riding a little to high without a proper support area...
My friend,

You're responsible for the dotted aqua on all of my charts (serving no purpose
in the compression patterns) but definitely serving as a target, an area of support
and resistance and logical area of focus.

I saw the 200ema neatly containing the price action earlier on several tfs (5m below
and 30m above [which now has again been breached] and replaced by the 1h).

Dr. D.

  • #246,050
  • Aug 16, 2010 10:10pm Aug 16, 2010 10:10pm
http://img830.imageshack.us/img830/8...d2005dolla.jpg

Are You Ready For How Bad It Will Get?
For months now I have averred that the US economy was not in recovery and that in point of fact all talk of “recovery” was a load of BS. I realize this view is far from the consensus. Even those who are in the bear camp aver that the Stimulus did in fact bring us out of recession at least temporarily. However, I would strongly contend that the recovery was in fact non-existent for the following reasons:

1. The Government data used to validate the recovery (GDP, unemployment, etc) is clearly massaged if not bordering on outright propaganda

2. We are in fact in a depression and the “recovery” was simply a bounce in economic activity taking place within the context of a larger economy contraction

Regarding #1, every Government data point used in promoting the “recovery” had some degree of fudging in it. Let’s consider GDP for instance. There are numerous devious tactics used to overstate GDP growth, however, the most obvious gimmick the BLS uses is overstating GDP growth in the present and then revising it lower in the subsequent quarters.

A perfect example of this is the latest GDP numbers which featured large revisions of the first two quarters of the alleged “recovery”: 3Q09’s GDP growth was revised down from 2.2% to 1.6% and 4Q09’s GDP growth was revised down from 5.6% to 5%.

In my opinion, these revisions occur because the Feds greatly overstate GDP growth via numerous gimmicks and then revise the numbers to be more in-line with reality after the fact. For an example of how the Feds overstate GDP in the present, consider the recent 2Q10 GDP growth numbers. According to last Friday’s announcement, second quarter GDP growth came in at 2.4%. However, several portions of this growth are questionable to say the least.

For starters, the report claimed there was a 21.9% increase in equipment and software purchases. How on earth the Feds can claim this kind of growth in those sectors when durable goods orders decreased 1% across the board in June is beyond me? Were April and May both blockbuster months? No both were already showing signs of a downturn.

So how do we get a 21% increase in equipment and software purchases? There is no explanation for this. We’re meant to simply assume it happened because the Feds say so. Another glaring issue is the BLS’s claims that real residential fixed investment jumped an astounding 27.9% in 2Q10. This would mean that we just put in the fastest Quarter over Quarter growth in the residential fixed income market in over 20 years. And this is at a time when housing prices are rolling over along with home sales?

My primary point is that there are numerous components in the latest GDP number that are extremely suspect. For this reason I am confident in stating that the second quarter’s GDP growth, like all GDP growth in this great “recovery,” is in fact greatly overstated and will be revised downward later this year.
  • #246,051
  • Aug 16, 2010 10:11pm Aug 16, 2010 10:11pm
Quoting fourxtrader
My friend,

You're responsible for the dotted aqua on all of my charts (serving no purpose
in the compression patterns) but definitely serving as a target, an area of support
and resistance and logical area of focus.

I saw the 200ema neatly containing the price action earlier on several tfs (5m below
[i][color=blue] and 30m above [which now...
Just really pointing out the observation in general doc, I figured you still had the 200s on the chart. More so of what I was commenting on and trying to point out is that the Hourly chart is the current resistance, meaning the H4 is going to be the immediate support. A buy back to the most relevant chart is quite common, happens on every time frame. Once we see the H4 200 on deck, a bounce from here before we attempt to hit the daily. Sherpa buys on the hourly, for Sherpa sells to H4 target.

I don't encourage folk to play off forecasts, and though cable does play in somewhat of a predictable fashion, playing with the trend always beats playing expectations.

As a general idea of what I am looking at over for the next course of action, is the 200 is yellow on the hourly, the white is the 200 on h4. IF we see resistance hold on the hourly, current bottom side targets with be the white line and targeted area, price to follow the green triangle.
Attached Image (click to enlarge)
Click to Enlarge Name: hourlyh4.jpg Size: 106 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #246,052
  • Aug 16, 2010 10:14pm Aug 16, 2010 10:14pm
The source is always in the title link of the posts
  • #246,053
  • Aug 16, 2010 10:16pm Aug 16, 2010 10:16pm
http://img819.imageshack.us/img819/1...itdetector.gif


President goes for a swim in the Gulf – or does he?
President Barack Obama wanted to convince America that the Gulf of Mexico remains open for business. But perhaps he didn’t want the world to catch another glimpse of his hairless chest. So when he and his daughter, Sasha, took a dip in the sea off Florida this weekend, only the White House photographer was allowed to capture proceedings.

The official picture was intended to provide evidence that the region’s beaches are back to normal. Yet it soon emerged that the private beach on which it was taken, off Alligator Point in St Andrew Bay, north-west Florida, isn’t technically in the gulf.
  • #246,054
  • Aug 16, 2010 10:18pm Aug 16, 2010 10:18pm
Quoting Magix
Closing below would mean that we confirm and trigger down to the 200EMA on the H4 chart and I still have a daily 200EMA that needs to be closed on....sooooooooo....Enjoy the buys for what they offer but be aware that we are still riding a little to high without a proper support area build.

Hey, anything can happen, but as long as the red line is below the yellow line on my hourly, I am only going to cautiously play the longs.

Meh...

Magix,

I'd love to see the 4h continue down to your 200ema (aqua dotted)
which would assist in completing its compression pattern. Imagine
if this could form then release on down to meet your 200ema on the
daily (aqua dotted) and beyond to produce an even tighter formation,
from which a CRS off of a dailly could produce a single move of many
thousands of pips. A daily that releases up would close the weekly and
a move up from there, the monthly.

Transferring energy in sequential and contiguous patterns... anything
will happen.

Dr. D.
Attached Images
  • #246,055
  • Aug 16, 2010 10:25pm Aug 16, 2010 10:25pm
check link http://www.forexfactory.com/showthre...49#post3951549

extracted posts, just because i posted the truth
  • #246,056
  • Aug 16, 2010 10:28pm Aug 16, 2010 10:28pm
Inserted Video
  • #246,057
  • Aug 16, 2010 10:31pm Aug 16, 2010 10:31pm
In the event of the Hindenburg Omen and other news propping in from different channels and sources

What do you guys think can happen to cable and the currencies in general ?

How do we trade it ?

Comments invited
  • #246,058
  • Aug 16, 2010 10:32pm Aug 16, 2010 10:32pm
Quoting forexlion
check link http://www.forexfactory.com/showthre...49#post3951549

extracted posts, just because i posted the truth
Just visited the extracted post area. Noticed that you are a frequent contributor. Not that there is anything wrong with that.
  • #246,059
  • Aug 16, 2010 10:46pm Aug 16, 2010 10:46pm
Yeah, pure BS!

Look on you tube what happen to Matt Simmons.....

http://vodpod.com/watch/4228266-did-...e-bp-gulf-oil-

Mexico Gulf is doomed.
People around will get sick and sea food wont be good for next 100 years there!

Its all propaganda....
Little fish will get trap...

-------------

About the extract.
I really hope USA wont do that final stupid move...
Let's hope....


Quoting forexlion
President goes for a swim in the Gulf – or does he?
Quoting trending
The compression simply gives a heads up on when a breakout is approaching. Though drawing a triangle with trendlines may do the same job.
I rather use TL yes. I use EMA but 30/200 is enough and give clue about direction....

Anyway, I won't push my point, I was trying to see if something more was lying behind. I'll keep my first opinion.
"Flip that coin!"
  • #246,060
  • Aug 16, 2010 10:49pm Aug 16, 2010 10:49pm
I was wondering what pivot points people use from this page? http://www.pivotfarm.com/pivot-points.phpI see afre different styles. "Camarilla" , "Classic"PivotClassicCamarillaWoodieFloorDeMarkPivotClassicCamarillaWoodieFloorDeMark, Woodie" etc. What do most people like to use? I guess I should download a PP indictor to my MT4 but I can't remember how. Can Anyone recomend thier favorite Daily PP indicator?
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