Cable Update (GBPUSD) | Page 12902 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #258,021
  • Oct 2, 2010 4:51am Oct 2, 2010 4:51am
Quoting amirhabibi
If 1.5710 broken , The price will move as picture shown
FINAL TARGET 1.5545
lol..u are imagining price is moving down..with a pitchfork..

price is moving up..your technical analysis is clouded by yur bias to the downside..i would love for u to explain in detail why that pitch fork is there going downward?..maybe im clouded so yur analysis i could learn from..

weekly is likely to close above 1.58
monthly close is above 1.58..so what makes u think on a 4hr chart price can be 1.57 especailly as dailly yesterday closed above 1.58

thank u..yur input would be valued
  • #258,022
  • Oct 2, 2010 5:03am Oct 2, 2010 5:03am



rgds,iqyu

http://www.forexfactory.com/showpost...&postcount=701



Quoting nAVIN2007
lol..u are imagining price is moving down..with a pitchfork..

price is moving up..your technical analysis is clouded by yur bias to the downside..i would love for u to explain in detail why that pitch fork is there going downward?..maybe im clouded so yur analysis i could learn from..

weekly is likely to close above 1.58
monthly close is above 1.58..so what makes u think on a 4hr chart price can be 1.57 especailly as dailly yesterday closed above 1.58

thank u..yur input would be valued
not euphoria follower
  • #258,023
  • Oct 2, 2010 5:26am Oct 2, 2010 5:26am
Quoting egkid
My comment & The lesson
Every one use different TF to trade and it's not wrong to say that we will go 1.40 or 1.70 BUT when i see /Feel something wrong @ some point and my plan not goes as i planed Stop, Wait, Review and maybe Lock ur profit. Not insist to go on with my plan. Market do what ever it want AND there is always another chance.

The 3 sequence u may notice when start forex
1- losing >> because insist to reach ur TP no matter what
2- make profit and then lose it>> Insist to dance to only one rhythm with ur self not...


I like your 'market rhythm'. Flexibility is key!
  • #258,024
  • Oct 2, 2010 5:59am Oct 2, 2010 5:59am


Quoting ICONyound
Website is open to the public, the trade section goes private before trading again.

http://standardpips.com/
http://cdn.forexfactory.com/images/misc/progress.gif
not euphoria follower
  • #258,025
  • Oct 2, 2010 6:02am Oct 2, 2010 6:02am
Quoting needyourwish
Anyone recognize this~?
Does it looks like a valid head and shoulders to you~?
http://img291.imageshack.us/img291/4538/70323276.jpg
Not quite... http://www.investopedia.com/universi...ts/charts2.asp

If anything the left shoulder is on the Feb/Mar 2010 lows, but when the right shoulder was created it was a very high shoulder with almost a 45 degree neckline.

What I can deduce from your chart is -

1. You have no stop loss
2. I don't know what timeframe you work off, but it seems that you bought in a supply area rather than waiting for a pullback into a demand area such as the one I have between 1.5639-1.5672 on my h1/h4 chart which we briefly hit on Thursday.
3. You have no risk to reward ratio because your risk is unlimitless yet your reward is just a 100 pips. For a 100 pips reward, my SL would be around 30-50 pips, to make it a 2:1 or 3:1 R/R ratio.

Don't worry... we all had to start somewhere but I hope that you are trading on a demo or preferably a micro account whilst learning! More often than not you will learn more from your failures than your successes so long you don't repeat your failures. Good luck
  • #258,026
  • Edited 6:24am Oct 2, 2010 6:13am | Edited 6:24am
Quoting ICONyound
Website is open to the public, the trade section goes private before trading again.
1. You should be a commercial member
2. Spam posts advertising a signal service are not appreciated on non-commercial threads
3. I would never use a signal service because I don't want to depend on other people's analysis of the market.
4. If people are going to spend money on services, I would advice them to spend their money on education instead. In the long run you will get a better ROI if done properly.
5. Finally, trading is not easy but it is simple if you invest your time into education and you have the ability to figure out how to make and keep money in these markets.

P.S. Cleanup report submitted
  • #258,027
  • Oct 2, 2010 6:24am Oct 2, 2010 6:24am
agree

rgds,iqyu

http://www.forexfactory.com/showpost...&postcount=701

Quoting bbakker
1. You should be a commercial member
2. Spam posts advertising a signal service are not appreciated on non-commercial threads
3. I would never use a signal service because I don't want to depend on other people's analysis of the market.
4. If people are going to spend money on services, I would advice them to spend their money on education instead. In the long run you will get a better ROI if done properly.
5. Finally, trading is not easy but it is simple if you invest your time into education and you have the ability to figure out how to make...
not euphoria follower
  • #258,028
  • Oct 2, 2010 6:26am Oct 2, 2010 6:26am
Hi needyourwish...
See attached chart. When trading an inverse HS, buy at the right shoulder or buy on a daily close above the neckline. It looks like you bought right into the neckline. (too early)

Quoting needyourwish
Anyone recognize this~?
Does it looks like a valid head and shoulders to you~?
http://img291.imageshack.us/img291/4538/70323276.jpg
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_02 Oct. 02 07.22.jpg Size: 104 KB
  • #258,029
  • Oct 2, 2010 6:55am Oct 2, 2010 6:55am
based your attached chart

friday closed higher than than opening price - Thursday


Quoting PipChick
Hi needyourwish...
See attached chart. When trading an inverse HS, buy at the right shoulder or buy on a daily close above the neckline. It looks like you bought right into the neckline. (too early)
Attached Image
not euphoria follower
  • #258,030
  • Oct 2, 2010 6:55am Oct 2, 2010 6:55am
Quoting PipChick
Hi needyourwish...
See attached chart. When trading an inverse HS, buy at the right shoulder or buy on a daily close above the neckline. It looks like you bought right into the neckline. (too early)
Here is my view on this inverse H&S. It seems your neckline is very high up, but chart patterns can be subjective and we will all have our own take on them.

Attached Image (click to enlarge)
Click to Enlarge Name: BB_ScreenHunter_02 Oct. 02 07.22.jpg Size: 180 KB


Wormie is a great chart pattern/trendline trader and a successful one too. I use them myself but more for confluence and confirmation.

EDIT: Thinking about it and stating that I do not trade off chart patterns is a lie. I have entered by adding positions on flag formations but I don't do this very often.
  • #258,031
  • Oct 2, 2010 6:57am Oct 2, 2010 6:57am
Quoting iqyu5an
based your attached chart

friday closed higher than than opening price - Thursday
PipChick stated 'close' which means that the body of the candle has to be above the neckline. Wicks do not count.
  • #258,032
  • Oct 2, 2010 6:59am Oct 2, 2010 6:59am
Quoting bbakker
Here is my view on this inverse H&S. It seems your neckline is very high up, but chart patterns can be subjective and we will all have our own take on them.

Attachment

Wormie is a great chart pattern/trendline trader and a successful one too. I use them myself but more for confluence and confirmation.
You could be right on the NL. I have always drawn mine the way you see on the chart and they work most of the time..lol But, necklines are definitely subjective. A lot of websites which describe the HS patterns show the NL as a horizontal line drawn across the troughs.
  • #258,033
  • Oct 2, 2010 7:00am Oct 2, 2010 7:00am
Quoting bbakker
PipChick stated 'close' which means that the body of the candle has to be above the neckline. Wicks do not count.
Correct
  • #258,034
  • Oct 2, 2010 7:08am Oct 2, 2010 7:08am
Hi.
Is this diamond valid?
Think a breakout from this one could help us see which direction?
Attached Image (click to enlarge)
Click to Enlarge Name: diamond.gbp-usd.gif Size: 17 KB
  • #258,035
  • Oct 2, 2010 7:10am Oct 2, 2010 7:10am
I am mainly a pattern trader. I trade patterns on all tf from the m1 to the daily. The HS pattern is one of my favorites and I have traded it for many yrs. Im not 100% sure on the correct (by the book) way to trade them. Many websites have very different views on how to trade them. My own personal rules that I have used over the yrs and have brought about some nice profits are as follows: (of course, as I stated before, they may not be "by the book". (I've never been able to FIND "the book" LOL)

Head and shoulders pattern: (downward)
Right shoulder should be lower than or equal to the Left Shoulder
The neckline should be horizontal or ascending
Either sell from the right shoulder or sell on a close below the neckline


Inverse:
Right shoulder should be higher or equal to the left shoulder
The NL should be horizontal or descending
Either buy off of the right shoulder or buy on a close above the Neck Line.
  • #258,036
  • Oct 2, 2010 7:17am Oct 2, 2010 7:17am
ok... time will tell
imo... first re targetting top of august.

here is the daily ...

again time will tell. i know i am just a newbie


rgds,iqyu

other detail : http://www.forexfactory.com/showpost...&postcount=701

Quoting bbakker
PipChick stated 'close' which means that the body of the candle has to be above the neckline. Wicks do not count.
Attached Image (click to enlarge)
Click to Enlarge Name: oct 2 daily rough.gif Size: 30 KB
not euphoria follower
  • #258,037
  • Oct 2, 2010 7:21am Oct 2, 2010 7:21am
drawing neckline is subjective.... depends how we move the mouse

but actual market say.... friday closed higher than opening - thursday.



rgds,iqyu

Quoting PipChick
Correct
not euphoria follower
  • #258,038
  • Oct 2, 2010 7:25am Oct 2, 2010 7:25am
Quoting PipChick
I am mainly a pattern trader. I trade patterns on all tf from the m1 to the daily. The HS pattern is one of my favorites and I have traded it for many yrs. Im not 100% sure on the correct (by the book) way to trade them. Many websites have very different views on how to trade them. My own personal rules that I have used over the yrs and have brought about some nice profits are as follows: (of course, as I stated before, they may not be "by the book". (I've never been able to FIND "the book" LOL)

Head and shoulders pattern: (downward)
Right...
H&S can complement many other setups. The left shoulder can be a retest of a previous channel/tl and within the the head and left shoulder there can be a bearish gartley or bat.
  • #258,039
  • Oct 2, 2010 7:27am Oct 2, 2010 7:27am
Quoting trending
H&S can complement many other setups. The left shoulder can be a retest of a previous channel/tl and within the the head and left shoulder there can be a bearish gartley or bat.
You are so right! I like it when an ab=cd pattern forms off the fib level which creates the right shoulder and gives an entry off the right shoulder.
  • #258,040
  • Oct 2, 2010 7:41am Oct 2, 2010 7:41am
Quoting iqyu5an
ok... time will tell
imo... first re targetting top of august.

here is the daily ...

again time will tell. i know i am just a newbie


rgds,iqyu

other detail : http://www.forexfactory.com/showpost...&postcount=701

If you combine the 2 daily bar together it is simply another doji. The only thing going for the price now is the trend. No BS analysis can beat the trend.
300 traders viewing now, 2 are registered:
,