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Cable Update (GBPUSD)

  • #267,821
  • Jan 2, 2011 9:58am Jan 2, 2011 9:58am
hello


are we all of the opinion cable will fall drastically when the market re-opens ?
  • #267,822
  • Jan 2, 2011 10:09am Jan 2, 2011 10:09am
http://cdn.forexfactory.com/images/icons/pound.gif GU-
Good day to you,

a new year upon us. Took my losses on EU ( Stopped out). Idea was good - but in too early. ANYWAY...

The 30 min chart spells out 1 single direction only - down. Look for a good entry south. Period.

No need for Fib's. No need for SR levels. Ride it down for 100 green ones.

I know I will...http://cdn.forexfactory.com/images/s...lling_eyes.gif

I want to take this opportunity to wish you all an exciting 2011.

All the best!

Regards
Attached Thumbnailshttp://cdn.forexfactory.com/attachme...1&d=1293984213
  • #267,823
  • Jan 2, 2011 10:25am Jan 2, 2011 10:25am
Quoting TauTrader
http://cdn.forexfactory.com/images/icons/pound.gif GU-
Good day to you,

a new year upon us. Took my losses on EU ( Stopped out). Idea was good - but in too early. ANYWAY...

The 30 min chart spells out 1 single direction only - down. Look for a good entry south. Period.

No need for Fib's. No need for SR levels. Ride it down for 100 green ones.

I know I will...http://cdn.forexfactory.com/images/s...lling_eyes.gif

I want to take this opportunity to wish you all an exciting 2011.

All the best!

Regards
Attached...
same to u a green and happy year best of luck
  • #267,824
  • Jan 2, 2011 10:30am Jan 2, 2011 10:30am
Quoting kill56
same to u a green and happy year best of luck
Thank you, Bro

It will be a green year.

wish you all the best. See you in the trenches..

Regards
Attached Image
  • #267,825
  • Jan 2, 2011 10:40am Jan 2, 2011 10:40am
Quoting matlock
Could you open your theory a little? GBP is struggling both technically and fundamentally.
Yo matlock - you're replying to a post that's over 4 years old ...
  • #267,826
  • Jan 2, 2011 10:51am Jan 2, 2011 10:51am
Quoting chazzle
Yo matlock - you're replying to a post that's over 4 years old ...
LoL..

This is my first
  • #267,827
  • Jan 2, 2011 10:53am Jan 2, 2011 10:53am
Quoting chazzle
Yo matlock - you're replying to a post that's over 4 years old ...
Oops! ROFL! How the heck that happened? I likely forgot to turn the page... But yeah, my analysis is up-to-date though
  • #267,828
  • Jan 2, 2011 11:26am Jan 2, 2011 11:26am
Quoting matlock
Oops! ROFL! .
Welcome to the asylum
  • #267,829
  • Jan 2, 2011 1:16pm Jan 2, 2011 1:16pm
Happy New Year to you all!

I've been following this thread closely for more than a year and really appreciate what I've learned from you guys. I've been trading FX for a few years, and now trade GBP/USD exclusively. A new year is now upon us and now it's time to be a member. I hope I can contribute something of value to you all at some point.

Cheers and good luck in the new year!

-greenbox
  • #267,830
  • Jan 2, 2011 2:25pm Jan 2, 2011 2:25pm
Happy trading everyone, hope to learn a few things over the coming months/years.

Cheers,

KF
  • #267,831
  • Jan 2, 2011 2:30pm Jan 2, 2011 2:30pm
Sell this pair if price would rise to resistance/downtrend channel upper line. Price already droped from this level in 31 of december for 70 pips. There could be another entry.
Possible sell limit at 1.5650 ?

http://img153.imageshack.us/img153/3296/gbpusdd.png

Regards,
suirad
  • #267,832
  • Jan 2, 2011 2:35pm Jan 2, 2011 2:35pm
Quoting suirad
Sell this pair if price would rise to resistance/downtrend channel upper line. Price already droped from this level in 31 of december for 70 pips. There could be another entry.
Possible sell limit at 1.5650 ?

http://img153.imageshack.us/img153/3296/gbpusdd.png

Regards,
suirad
i'll just see how PA behaves at 1.5600 lvl

i see gu back to 5520 zone.
Hero calls followed by margin calls...
  • #267,833
  • Jan 2, 2011 3:19pm Jan 2, 2011 3:19pm
If we treat 1.5360 as the bottom of the last run then using P & F on a 4hr chart this gives us an upside target of 1.5820
  • #267,834
  • Jan 2, 2011 3:49pm Jan 2, 2011 3:49pm
Quoting KinsaleForex
If we treat 1.5360 as the bottom of the last run then using P & F on a 4hr chart this gives us an upside target of 1.5820
You're talking Points and Figures, simple S/R trading which on a chart looks like a game of noughts and crosses.... am i right here? If so, cud you please confirm with a chart, if only that we can understand what sort of TF ( short term,medium,long) you're talking of trading . I think we can all see that price will go higher at some point in time but i feel that your figure bears no relevance to intraday traders or to medium term unless you provide more reasoning. A chart would be the simplest method.
Regards,
All systems of divination, like music itself,work through patterns.
  • #267,835
  • Jan 2, 2011 3:52pm Jan 2, 2011 3:52pm
Fibonacci Retracements points -2th Aug 2009 as a HIGH and 16th May 2010 as a LOW - are likely most accurate to draw a fibo, as you can see from my picture:
http://img210.imageshack.us/img210/7...fibopoints.png

If 50.0 fibo brakes, PA will go most likely to 1.5700 and then retract down again.

Price closed below Dec monthly pivot 1.5623 so we're likely going to see slightly bearish market on the first week of this month and maybe the next as well. Only braking of fibo @1.56369 may cause up movement.

Got to close my open positions today night. Exness really screwed up my trades by closing @17.00.

The first trading day of 2011, here we come...
  • #267,836
  • Jan 2, 2011 4:06pm Jan 2, 2011 4:06pm
Prolly not the right time or place to say this..but where else would the following comment be given due consideration?
With regard the latest blast of hot air on Eur thread..... Every Factory needs its quality control. I know i'd rather work with quality Quality controllers like Cloggs and Mag than meander along with people who dont seem able to differentiate between a pigs ear and a sows a*rse.
Sorry for the interruption .
All systems of divination, like music itself,work through patterns.
  • #267,837
  • Jan 2, 2011 4:41pm Jan 2, 2011 4:41pm
Quoting kaspopsicle
Prolly not the right time or place to say this..but where else would the following comment be given due consideration?
With regard the latest blast of hot air on Eur thread..... Every Factory needs its quality control. I know i'd rather work with quality Quality controllers like Cloggs and Mag than meander along with people who dont seem able to differentiate between a pigs ear and a sows a*rse.
Sorry for the interruption .
Good day to you,

If I may, I would like to comment too.

I agree that it is of importance that opinion is recorded. It is of importance that issues are discussed and that posts are disected and referenced where need be - that is why we have a "quote" function....

If one would like to comment on another poster's content - one has to be free to do so. I therefor do not disagree with either Cloggie, nor Magix in terms of the issues raised. My problem comes in when personal attacks are launched - by whoever. There is absolutely no reason for any individual to become personal.

We are allowed to get extremely passionate about issues and it is within anyones right to defend or reject an issue in principle - again, as long as
we do not get personal.

So - the whole thing is wrong in the way it spiralled out of control. We should continue to encourage healthy debate - but let's keep the personal attacks off the boards...

My 2c

Regards
  • #267,838
  • Jan 2, 2011 4:47pm Jan 2, 2011 4:47pm
Quoting kaspopsicle
You're talking Points and Figures, simple S/R trading which on a chart looks like a game of noughts and crosses.... am i right here? If so, cud you please confirm with a chart, if only that we can understand what sort of TF ( short term,medium,long) you're talking of trading . I think we can all see that price will go higher at some point in time but i feel that your figure bears no relevance to intraday traders or to medium term unless you provide more reasoning. A chart would be the simplest method.
Regards,
Sorry for the delayed reply, was finishing up at work.

Unfortunately I only chart 1hr Cable on P&F not the 4hr so i don't have a chart to post. This aside P&F doesn't really run on time frames per se. I got this target from a very quick calculation on the 4hr chart, with P&F you don't need a full chart to obtain a target.

Again, from the low of 1.5360 (the 5am to 9am bar 29th Dec) the next retracement is 16 boxes (or 160 pips). Working out a target on Point and Figure consists of multiplying the retracement (16 boxes) by the box size (10) by the point and figure reversal (in this case 3 boxes)

16 x 10 x 3 = 480

The low = 1.5360 + 480 = 1.5840 (ok i made a mistake in my original calculation!)

Hope this suffices instead of a chart?

Cheers

KF
  • #267,839
  • Jan 2, 2011 4:52pm Jan 2, 2011 4:52pm
Quoting kaspopsicle
You're talking Points and Figures, simple S/R trading which on a chart looks like a game of noughts and crosses.... am i right here?
Hi Kaspopsicle - I'm a newbie on the site but have a reasonable amount of experience with P&F charting. Point and Figure can be used for judging the size of a move, it gives buy and sell signals, support and resistance lines can be drawn in and traded as you would normal trade a bullish or bearish channel so to describe it as simple S/R trading or even the rather more disparaging noughts and crosses is rather disingenuous. From my point of view P&F is the difference that makes the difference to my trading but perhaps it's simplicity scares people. Best thoughts.
  • #267,840
  • Jan 2, 2011 4:57pm Jan 2, 2011 4:57pm
Quoting TauTrader
Good day to you,

If I may, I would like to comment too.

I agree that it is of importance that opinion is recorded. It is of importance that issues are discussed and that posts are disected and referenced where need be - that is why we have a "quote" function....

If one would like to comment on another poster's content - one has to be free to do so. I therefor do not disagree with either Cloggie, nor Magix in terms of the issues raised. My problem comes in when personal attacks are launched - by whoever. There is absolutely no reason for...
Thank you for making a silk purse out of the sows ear of my comment.You are absolutely correct in your thoughts .Thanks . Going for a little short somewhere here. Engulfing candles on M5. cheers Mr. T.
All systems of divination, like music itself,work through patterns.
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