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Cable Update (GBPUSD)

  • #250,421
  • Sep 2, 2010 2:30am Sep 2, 2010 2:30am
Quoting primzvicious
lol
I'm a fan of repeating pattern too. The pattern you mentioned may have been repeated already. Third time the charm?

I'm leaning towards the other pattern being repeated. But we are still in a downtrend.
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  • #250,422
  • Sep 2, 2010 2:34am Sep 2, 2010 2:34am
any thoughts on hitting WL4, Wlo & L4?

Dr. D.
  • #250,423
  • Sep 2, 2010 2:34am Sep 2, 2010 2:34am
Quoting trending
I'm a fan of repeating pattern too. The pattern you mentioned may have been repeated already. Third time the charm?

I'm leaning towards the other pattern being repeated. But we are still in a downtrend.
i dunno... but it might work
Verily, in every difficulties there is relief
  • #250,424
  • Sep 2, 2010 2:35am Sep 2, 2010 2:35am
Quoting primzvicious
if you look H4 stronger support is on 1.5380... but in my view 1.5500 resistance is much more stronger than 1.5380

Yup, seems like I jumped the gun again!
@pawpaw1000 on Twitter
  • #250,425
  • Sep 2, 2010 2:54am Sep 2, 2010 2:54am
Quoting pawpaw1000
Yup, seems like I jumped the gun again!

G/M

The question I always ask myself on entering the market at what may be a swing point is.... 'Why do I think there might be market moving bids/offers here?' ie all the market can see the same things so what confluence of potential supp/res factors exists ? Generally lower t/f ma's and so called round numbers are not sufficiently robust of themselves to encourage the market moving money in...you gotta seek confluence of 'real' tech factors in order to keep the probabilities on your side.

For eg: Down here at 5370/75 mni talking of stronger bids + 76.4% 5335-5491...1min double osma bullish div set-up leads the way ...

G/L
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ex member
  • #250,426
  • Sep 2, 2010 3:00am Sep 2, 2010 3:00am
By the way, any long is a reversaal against overall price action-peak/valley analysis trends to the 1hr t/f....so the higher probability is that they are pullbacks only...until price action begins to tell us otherwise...targets are therefore set accordingly.

You just gotta roll with the higher probability set-ups and outcomes, whatever the t/f (s) you play.

G/L
ex member
  • #250,427
  • Sep 2, 2010 3:02am Sep 2, 2010 3:02am
Quoting fourxtrader
any thoughts on hitting WL4, Wlo & L4?

Dr. D.
lol, sorry doc , just refreshed but I can say with assurance we will hit the weekly L4
  • #250,428
  • Sep 2, 2010 3:08am Sep 2, 2010 3:08am
Quoting digger1
lol, sorry doc , just refreshed but I can say with assurance we will hit the weekly L4
harharhar.... now you speak. lol Yes it did reach WL4 @ 1.5378

I got too greedy waiting for L4 @ 1.5365 and missed the current
low @ 1.5373 but still grabbed ~30 pips on the second 1/2 of
this move down off of a 5m compression.

I've had enough... the dumpster is awaitingzzzzzzz.

Dr. D.
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  • #250,429
  • Sep 2, 2010 3:08am Sep 2, 2010 3:08am
A bull flag within a bull flag? This PA is killing me.
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  • #250,430
  • Sep 2, 2010 3:11am Sep 2, 2010 3:11am
Quoting trending
A bull flag within a bull flag? This PA is killing me.
you're telling me...

Sticking with my rules this time...
@pawpaw1000 on Twitter
  • #250,431
  • Sep 2, 2010 3:12am Sep 2, 2010 3:12am
Took a long position.. Entry at 1.5394.....
  • #250,432
  • Sep 2, 2010 3:12am Sep 2, 2010 3:12am
Quoting trending
A bull flag within a bull flag? This PA is killing me.

Inserted Video
  • #250,433
  • Sep 2, 2010 3:14am Sep 2, 2010 3:14am
Quoting fourxtrader
harharhar.... now you speak. lol Yes it did reach WL4 @ 1.5378

I got too greedy waiting for L4 @ 1.5365 and missed the current
low @ 1.5373 but still grabbed ~30 pips on the second 1/2 of
this move down off of a 5m compression.

I've had enough... the dumpster is awaitingzzzzzzz.

Dr. D.
ah good job doc , have a good rest .
  • #250,434
  • Sep 2, 2010 3:15am Sep 2, 2010 3:15am
Quoting trending
A bull flag within a bull flag? This PA is killing me.
Hows this...
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Click to Enlarge Name: tradeg.gif Size: 55 KB
@pawpaw1000 on Twitter
  • #250,435
  • Sep 2, 2010 3:21am Sep 2, 2010 3:21am
Quoting dil
http://www.youtube.com/watch?v=4eNrgpVp70U
Try and stop me.
  • #250,436
  • Sep 2, 2010 3:22am Sep 2, 2010 3:22am
Quoting digger1
ah good job doc , have a good rest .

You'd be pleased to know that I haven't abandoned the
use of your stoch charts.... using the entry signal off
of the 2nd peak (or spike) of a neat grouping of 3. Now
the pattern looks like it's breaking down with a ragged 4th.

I'm sure everyone is saying... what the heck is he talking
about... or who cares. lol

Dr. D.
  • #250,437
  • Sep 2, 2010 3:26am Sep 2, 2010 3:26am
Quoting pawpaw1000
Hows this...
Good day to you,

Just an observation.. Although your TL's are not incorrect, the LTL is not ideal - 2 points touching is fair - but you would ideally want to look for at least 3 points touching. The more touches, the "stronger" or more sustainable the line will be.

Just a thought...

Regards
  • #250,438
  • Sep 2, 2010 3:27am Sep 2, 2010 3:27am
Quoting pawpaw1000
Hows this...
You mean this? Your lower line is still in play so will do little for projections. The older ones are more useful. IMO.
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  • #250,439
  • Sep 2, 2010 3:27am Sep 2, 2010 3:27am
Quoting TauTrader
Good day to you,

Just an observation.. Although your TL's are not incorrect, the LTL is not ideal - 2 points touching is fair - but you would ideally want to look for at least 3 points touching. The more touches, the "stronger" or more sustainable the line will be.

Just a thought...

Regards
thanks tau...

Trending, am actually looking for a break... But thanks, your way is interesting and does allow for projection
@pawpaw1000 on Twitter
  • #250,440
  • Sep 2, 2010 3:28am Sep 2, 2010 3:28am
Quoting fourxtrader
You'd be pleased to know that I haven't abandoned the
use of your stoch charts.... using the entry signal off
of the 2nd peak (or spike) of a neat grouping of 3. Now
the pattern looks like it's breaking down with a ragged 4th.

I'm sure everyone is saying... what the heck is he [i][color=#0000ff]talking...
Bottom line is it works for you ,thts all that matters
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