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Cable Update (GBPUSD)

  • #249,061
  • Aug 26, 2010 4:56pm Aug 26, 2010 4:56pm
Quoting fxoxford
yeah, the market sucks at the moment lol, this is why im a swing trader don't have to be in front of my computer to watch this BS. good luck to all


Hows that working out for you btw? Profitability?

hehe, this is crap boring but listening to music and reading articles at the same time!
@pawpaw1000 on Twitter
  • #249,062
  • Aug 26, 2010 4:59pm Aug 26, 2010 4:59pm
Quoting alex1976
getting ready for this nice down move

Same here, not sure why so many here see longs.
  • #249,063
  • Aug 26, 2010 5:00pm Aug 26, 2010 5:00pm
Quoting cloggie
Same here, not sure why so many here see longs.
Can you explain, its nice for some insight.
  • #249,064
  • Aug 26, 2010 5:03pm Aug 26, 2010 5:03pm
Quoting cloggie
Same here, not sure why so many here see longs.
oh no... ok Cloggs, out with it... Whats gonna happen?
@pawpaw1000 on Twitter
  • #249,065
  • Aug 26, 2010 5:08pm Aug 26, 2010 5:08pm
Quoting USD-Bear
Long @ 1.5529
SL @ 1.536
Target open

H1:
Attachment

Keeping the target open... UP or DOWN

A unique situation is developing with the compression charts:
most all of the tf's are in their compression modes at various
stages as the EMAs draw again together into consolidation
patterns. Of course, the lower tf's form faster and release
their energies to build the higher tf's. The 5m is already again
in a tight formation and a sizable release UP would help close
the 1h whereas a release DOWN would delay its formation but
draw the EMAs on the 15m, 30m and 4h further together.

The daily and the monthly are also in compression phases.
Any of the immediate lower tf's such as the 30m, 1h and 4h
would be the ideal triggers having sufficient energy to break
the daily and then possibly the monthly out of their narrowing
configurations. The weekly is out of phase and in an oscillation
pattern after dropping since 7/08 and only a significant move
upward would assist in its closing to compression or producing
further separation and expansion to the downside.

Interpretation:
these C-patterns carry the potential energy, relative to their
individual tf's, with the lower tf's as the catalysts to generate
large pip movements as they separate and release to then
transfer their energy to higher tf's. A controlled sequence of
closing into tight EMA patterns and then releasing in (preferred)
specific directions can produce a domino effect providing even
greater energies for higher tf's to form which would often result
in massive moves. As this is continually occurring on all tf's,
more often one move from a lower tf may cancel out the
formation and maturation of a pattern in one or more the higher
tf's as they move out of phase with one another. It's fun to see
and well worth watching to find optimal trades that have maximal
pip potentials.

Dr. D.
Attached Images
  • #249,066
  • Aug 26, 2010 5:29pm Aug 26, 2010 5:29pm
Quoting pawpaw1000


Hows that working out for you btw? Profitability?

hehe, this is crap boring but listening to music and reading articles at the same time!
been working good for 8yrs, profitability, well lets say to much to count .
  • #249,067
  • Aug 26, 2010 5:31pm Aug 26, 2010 5:31pm
Quoting cloggie
Same here, not sure why so many here see longs.
where just have to see where we at by tommorow. good luck
  • #249,068
  • Aug 26, 2010 5:39pm Aug 26, 2010 5:39pm
Where is the support from here?
  • #249,069
  • Aug 26, 2010 5:49pm Aug 26, 2010 5:49pm
Quoting cvarnado
Where is the support from here?
Support on the M30 chart, failure here, watch for hourly support.

Ranges on chart.
Attached Image (click to enlarge)
Click to Enlarge Name: support2.jpg Size: 140 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #249,070
  • Edited 6:30pm Aug 26, 2010 6:16pm | Edited 6:30pm
Quoting cloggie
Same here, not sure why so many here see longs.
Price usualy bounce in between 61.8 correction making a triangle until the break.
We went a little under 61.8% of last leg up on daily and @ exctly 38.2% of the largest leg on weekly.
Now "logic" PA is a ..... correction of last leg down at 61.8% (1.5757).

It can be wrong... but that's why.
Now you know!

Take care!

ps: have a look

Edit: I expect correction at ... 61.8% max of last move up on 1h/4h @ 1.5465 if the low is broken then move up.

Let's see!
Attached Image (click to enlarge)
Click to Enlarge Name: GU 20 -08.jpg Size: 105 KB
"Flip that coin!"
  • #249,071
  • Aug 26, 2010 6:41pm Aug 26, 2010 6:41pm
short term up/down?
  • #249,072
  • Aug 26, 2010 6:44pm Aug 26, 2010 6:44pm
Quoting cvarnado
short term up/down?
Will you really do a trade on someone else opinion/sentiment?!
It's a High Low story, so it depend on the chart you look at.

Watch your chart, if you have lower low its down, higher high its up, equal flat then.

I see higher high on medium TF 15/1h but lower low on 4h/daily and 1min and 5.
So its your choice!

Take care!
"Flip that coin!"
  • #249,073
  • Aug 26, 2010 6:46pm Aug 26, 2010 6:46pm
Quoting Scipionz
Will you really do a trade on someone else opinion/sentiment?!
It's a High Low story, so it depend on the chart you look at.

Watch your chart, if you have lower low its down, higher high its up, equal flat then.

I see higher high on medium TF 15/1h but lower low on 4h/daily and 1min and 5.
So its your choice!

Take care!
This is what I have but just wanted some active posters in here.
  • #249,074
  • Aug 26, 2010 7:06pm Aug 26, 2010 7:06pm
Tomorrow will be a 200 pip DOWN day, my system says so. I'd rather not explain why. I'll be short for the next two weeks.
"Sell? Sell? No! I can't Sell! I'll Sell When I'm Dead"
  • #249,075
  • Aug 26, 2010 7:22pm Aug 26, 2010 7:22pm
http://www.forexfactory.com/showpost...&postcount=586



Quoting BlueCirrus
Thanks for the reply Scipionz...I have attached a screenshot showing the differing Fib levels for each Harmonic pattern according to Scott Carney of Harmonictrader.com. This pattern, of course, like any other, can sometimes fail to achieve it's target, but for the most part, it is a very reliable trade setup. As for 1.4990, that is certainly possible, but I will always take partial profits at the middle retrace level (154.80 in this case) and at the test of the low of the pattern.

Good Luck and thanks again!
Attached Image
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #249,076
  • Aug 26, 2010 7:24pm Aug 26, 2010 7:24pm
Wrong picture?
  • #249,077
  • Aug 26, 2010 7:36pm Aug 26, 2010 7:36pm
Quoting 45Condor
http://www.forexfactory.com/showpost...&postcount=586
The difference in between bat and gartley ain't the extension % on the abcd or Expension (FE), it is the middle correction.

Bat first correction are done at 38.2/50, then they will reach for 78.6/88.6.
http://www.harmonictrader.com/batbullre.jpg
Gartley first correction are done @ 61.8, then reach for 78,6/88.6%
http://www.harmonictrader.com/gartleybullre.jpg

But will you really do the diffence in between those 2 while trading....!?
I don't, and don't feel its important.

Butterfly and crab extend under X... this matter LOL!
--------------

To put it simple, when an ABCD ain't able to complete in one way, it will then try the other way.
That's why "logicly", you have only 2 kind of pattern on a chart.... AB=CD or gartley/bat/etc...

Take care!

REF: http://harmonictrader.com/price_patterns.htm
REF: http://www.forexfactory.com/showthre...hlight=inzider
"Flip that coin!"
  • #249,078
  • Aug 26, 2010 7:38pm Aug 26, 2010 7:38pm
Quoting cloggie
Same here, not sure why so many here see longs.
check ur weekly...
since today=friday usually i am not in trade...just watch my long from 5430 n possible will add in if it reach at 5460 today....right now a bit blurr either lock that position or close n take it back later....

g
  • #249,079
  • Aug 26, 2010 7:41pm Aug 26, 2010 7:41pm
You may well be correct. I do not trade using harmonics, but felt that this illustration would serve some well.


Quoting Scipionz
The difference in between bat and gartley ain't the extension % on the abcd or Expension (FE), it is the middle correction.

Bat first correction are done at 38.2/50, then they will reach for 78.6/88.6.
Gartley first correction are done @ 61.8, then reach for 78,6/88.6%

But will you really do the diffence in bewteen those 2 while trading....!?
I don't, and don't feel it important.

Butterfly and crab extend under X... this matter LOL!

Take care!
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #249,080
  • Aug 26, 2010 7:43pm Aug 26, 2010 7:43pm
Quoting 45Condor
You may well be correct. I do not trade using harmonics, but felt that this illustration would serve some well.
SURE!!!!!!!!!!!!!!!

I only wanted pin point the thing!
I don't really care about the detail on this, the pattern itself can differ alittle, but the main idea is gold!

Wish you the best!

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

Grashid!!!!! Here's a reminder for you! LOL
http://www.forexfactory.com/showthre...98#post3945398

Rubbish.... muahah...
"Flip that coin!"
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