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Cable Update (GBPUSD)

  • #265,001
  • Nov 23, 2010 8:57am Nov 23, 2010 8:57am
Looks to me like cable has broken out.....
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"Timing Is Everything. Really I Swear It Is"
  • #265,002
  • Nov 23, 2010 8:58am Nov 23, 2010 8:58am
Quoting wormboy
If your charting is not random then I must point out that you've missed out on the descending utl from the 5th of Nov @1.63. And price is below the monthly pvp @5926. In all honesty price is pointing for a big drop.
Magix tried to warn you of this that's all.
Attached Image
Thank You
  • #265,003
  • Nov 23, 2010 9:00am Nov 23, 2010 9:00am
Quoting TauTrader
Good day to you,

Good to see you

Yip - got out of the way... Hope you are doing well. Got a good entry on your shortie. Now don't ride this one too long, you hear?

Regards
im doing better buddy
  • #265,004
  • Nov 23, 2010 9:02am Nov 23, 2010 9:02am
Quoting wormboy
what's so wrong with a SL below TL and a entry on re-test?
I'm not blind but at least a break for bear confirmation...
Don't worry +75% of my trades are on the right side
  • #265,005
  • Nov 23, 2010 9:05am Nov 23, 2010 9:05am
Well, never got stopped out on my trade, 5m 200 seems to have kept out the buyers and we never moved above daily roll.

Given the current momo and thrust downwards, the 1m target chart says we might just see 1.5820...Now, wouldn't that make for a nice trade....
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #265,006
  • Nov 23, 2010 9:08am Nov 23, 2010 9:08am
Quoting Magix
Well, never got stopped out on my trade, 5m 200 seems to have kept out the buyers and we never moved above daily roll.

Given the current momo and thrust downwards, the 1m target chart says we might just see 1.5820...Now, wouldn't that make for a nice trade....

excellent entery ace!!
  • #265,007
  • Nov 23, 2010 9:12am Nov 23, 2010 9:12am
Quoting z3r0
what's so wrong with a SL below TL and a entry on re-test?
I'm not blind but at least a break for bear confirmation...
Don't worry +75% of my trades are on the right side
It wasn't directed at you.

What's so wrong you ask? If you did even consider reading my reply to you earlier regarding the major ltl, you would've seen where you went wrong.

Quoting wormboy
hi zero, thanks thought you'd missed that utl.
no actually I meAnt the monthly pivot.
but in response to the major bullish ltl you have, you might want to plot it again.
Switch to the weekly, plot the ltl from the 6th of June 2010 low @4341 to the 5th of Sept swing low @5291. The major ltl is currently failing, yesterday's rise towards 6077 stopped dead on the underside & failed the test. The drop had been a textbook breakout, retest & continuation.
But okay, you're not blind & +75% right. Guess this is just one of those days.
Good luck.
Thank You
  • #265,008
  • Nov 23, 2010 9:19am Nov 23, 2010 9:19am
Quoting wormboy
But okay, you're not blind & +75% right. Guess this is just one of those days.
Good luck.
Many people had this line plotted it wasn't just me. 2 more examples. James Chen had it also like this [here] although he did mention the uptrend being in jeopardy. @ innerfx.com the same config was noted. so... one of those days.. no.. one of those trades.. sure
  • #265,009
  • Nov 23, 2010 9:28am Nov 23, 2010 9:28am
Quoting z3r0
Many people had this line plotted it wasn't just me. 2 more examples. James Chen had it also like this [here] although he did mention the uptrend being in jeopardy. @ innerfx.com the same config was noted. so... one of those days.. no.. one of those trades.. sure
right, now you can tell james chen & the rest of those guys how it's done lol
Thank You
  • #265,010
  • Nov 23, 2010 9:50am Nov 23, 2010 9:50am
well guess what? I decided to set another long w/ SL @ 16/11 daily low
make the jokes you want... i don't care
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  • #265,011
  • Nov 23, 2010 9:58am Nov 23, 2010 9:58am
Anyone else see support line on 1hr and 4 hr charts at around 15850? Thinking of going long with SL around 15840 - maybe a risky play but only 20nto 25 pip downside currently.

Woulod apprecaite comments
  • #265,012
  • Nov 23, 2010 10:05am Nov 23, 2010 10:05am
Quoting z3r0
well guess what? I decided to set another long w/ SL @ 16/11 daily low
make the jokes you want... i don't care
I don't care either. Your money not my money.

Just a reminder tho, this morning your supposedly major ltl looked like this:
1. http://cdn.forexfactory.com/attachme...1&d=1290496329

now you have it looked like this to suit your bias:
1. http://cdn.forexfactory.com/attachme...6&d=1290527370

In regards to redrawing imaginary trendlines, I believe Magix has a picture of a chlorocebus aethiops doing it's thing.
Thank You
  • #265,013
  • Nov 23, 2010 10:19am Nov 23, 2010 10:19am
Quoting gstrange
Anyone else see support line on 1hr and 4 hr charts at around 15850? Thinking of going long with SL around 15840 - maybe a risky play but only 20nto 25 pip downside currently.

Woulod apprecaite comments
You're trying to catch a falling knife. You can get lucky of course.
  • #265,014
  • Nov 23, 2010 10:20am Nov 23, 2010 10:20am
I hear stops below the 16/11 daily low triggered. Keep drawing those imaginary ltl
Thank You
  • #265,015
  • Nov 23, 2010 10:20am Nov 23, 2010 10:20am
Magix loves trendlines lol

This is a prime example of why i question them as you can move them to suit your bias....they have there uses though
Enter Signature
  • #265,016
  • Nov 23, 2010 10:28am Nov 23, 2010 10:28am
Quoting darrenware
Magix loves trendlines lol

This is a prime example of why i question them as you can move them to suit your bias....they have there uses though
There are rules as how to plot them & recognising a failed setup.
There is no moving one to suit your personal bias, if there is, then it's not properly done. Unfortunately, far too many people don't take the time to learn the ropes, that's why you find people just drawing meaningless tl.

How have you been? All good i hope
Thank You
  • #265,017
  • Nov 23, 2010 10:28am Nov 23, 2010 10:28am
Which trendline?? I could keep drawing them
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Enter Signature
  • #265,018
  • Nov 23, 2010 10:32am Nov 23, 2010 10:32am
Quoting wormboy
There are rules as how to plot them & recognising a failed setup.
There is no moving one to suit your personal bias, if there is, then it's not properly done. Unfortunately, far too many people don't take the time to learn the ropes, that's why you find people just drawing meaningless tl.

How have you been? All good i hope
Very True

I am great thanks....so busy at work at the moment due to christmas season so having to put trading on the back burner until the new year but still have a nosey.

I could still trade but i would lose money as i cannot dedicate a enough time to it at the moment.

Did I not see you saying you were taking a break too....lol you love it too much
Enter Signature
  • #265,019
  • Nov 23, 2010 10:32am Nov 23, 2010 10:32am
long 15808 sl 15758 tp 15858
  • #265,020
  • Nov 23, 2010 10:33am Nov 23, 2010 10:33am
Quoting wormboy
There are rules as how to plot them & recognising a failed setup.
There is no moving one to suit your personal bias, if there is, then it's not properly done. Unfortunately, far too many people don't take the time to learn the ropes, that's why you find people just drawing meaningless tl.

How have you been? All good i hope

for sure..its a joke the people we see trading..gotta wonder if they even thought about what a trendline is..but u know what they are needed otherwise the game would be quite difficult

i post in here..trying to help people and still u see them clueless...makes u think nobody can help the clueless..they simply gotta find there one way..

i think im done in this thread bro!
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