All systems of divination, like music itself,work through patterns.
Cable Update (GBPUSD)
- #268,881
- Jan 17, 2011 1:09pm Jan 17, 2011 1:09pm
- | Membership Revoked | Joined Mar 2010 | 3,853 Posts
- #268,882
- Jan 17, 2011 1:17pm Jan 17, 2011 1:17pm
- Joined Mar 2007 | Status: 'sleeping in a dumpster' | 2,151 Posts
- #268,884
- Jan 17, 2011 1:22pm Jan 17, 2011 1:22pm
- Joined Jan 2009 | Status: Per Aspera Ad Astra | 6,262 Posts
Why should we think this little pullback is a needed
reversal and not a correction in the upward trend?
Dr. D.
Not sure if the question is rhetorical? But if not...
Trend is up, but possibly changing. There is also no real way of telling if this is a pulback, or a reversal. When does a pullback become a reversal? Do we count in pips? Is it when a new low forms?
I have posted my opinion that a bull trap would be set. From there, I would call a reversal. Not just a pullback. My charts are setting up for a more sustained move lower.
Have I been wrong? You bet. But the movements are classical profit taking and stop hunting formations. My system is designed to lead. But they give general areas of reversal only - at times pinpoint - but mostly areas only. That is why I need to build a position which normally requires various entries to get a decent average price.
Your question is very valid and I would like opinion expressed.
My apology if the question was not directed.
Regards and all success
- #268,885
- Jan 17, 2011 1:47pm Jan 17, 2011 1:47pm
- Joined Mar 2007 | Status: 'sleeping in a dumpster' | 2,151 Posts
An old saying: to anticipate a cross is to anticipate a loss.
Retailers anticipating a reversal, so then expect a continuation
after this (or further) pause. Play it both ways on various tfs.
Daily candles rising might be slowing but I'd have to ignore the
current given a USD holiday and no news out for another 12 hrs.
It would be 'technically' cruel to turn so narrowly close to 1.6000.
What do I know? Long legged doji yet to form.
Dr. D.
Retailers anticipating a reversal, so then expect a continuation
after this (or further) pause. Play it both ways on various tfs.
Daily candles rising might be slowing but I'd have to ignore the
current given a USD holiday and no news out for another 12 hrs.
It would be 'technically' cruel to turn so narrowly close to 1.6000.
What do I know? Long legged doji yet to form.
Dr. D.
- #268,886
- Jan 17, 2011 2:09pm Jan 17, 2011 2:09pm
- | Membership Revoked | Joined Mar 2010 | 3,853 Posts
All systems of divination, like music itself,work through patterns.
- #268,887
- Jan 17, 2011 2:11pm Jan 17, 2011 2:11pm
- Joined Mar 2007 | Status: 'sleeping in a dumpster' | 2,151 Posts
Good day to you,
Not sure if the question is rhetorical? But if not...
Trend is up, but possibly changing. There is also no real way of telling if this is a pulback, or a reversal. When does a pullback become a reversal? Do we count in pips? Is it when a new low forms?
I have posted my opinion that a bull trap would be set. From there, I would call a reversal. Not just a pullback. My charts are setting up for a more sustained move lower.
Have I been wrong? You bet. But the movements are classical...
When greed has clouded the minds of the masses
and blown a few additional accounts. lol
My charts are setting up for a more sustained move lower.
I'd also like to see a reversal after a test of the 1.6000
and the PA sharply plummet and pierce through the
heart of the compression formation on the daily.
Success to you always. Keep posting.
Dr. D.
- #268,888
- Jan 17, 2011 3:47pm Jan 17, 2011 3:47pm
- | Membership Revoked | Joined Mar 2010 | 3,853 Posts
All systems of divination, like music itself,work through patterns.
- #268,889
- Jan 17, 2011 4:04pm Jan 17, 2011 4:04pm
Hey, did ya ever wonder why some senior members get a little rammy with others? When you see a post, do you stop to take notice of whose name is attached and their status on a vouch scale?
Pbhhhhhhhhhhhht....
- #268,891
- Jan 17, 2011 5:08pm Jan 17, 2011 5:08pm
- | Membership Revoked | Joined Mar 2010 | 3,853 Posts
All systems of divination, like music itself,work through patterns.
- #268,893
- Jan 17, 2011 5:17pm Jan 17, 2011 5:17pm
- | Joined Oct 2007 | Status: Trader | 1,236 Posts
"Timing Is Everything. Really I Swear It Is"
- #268,894
- Jan 17, 2011 5:50pm Jan 17, 2011 5:50pm
- Joined Mar 2007 | Status: 'sleeping in a dumpster' | 2,151 Posts
- #268,895
- Jan 17, 2011 5:54pm Jan 17, 2011 5:54pm
- | Membership Revoked | Joined Mar 2010 | 3,853 Posts
All systems of divination, like music itself,work through patterns.
- #268,896
- Jan 17, 2011 5:58pm Jan 17, 2011 5:58pm
- | Membership Revoked | Joined Mar 2010 | 3,853 Posts
All systems of divination, like music itself,work through patterns.
- #268,897
- Edited 6:11pm Jan 17, 2011 6:08pm | Edited 6:11pm
let the spin doctors dig their own hole...
I reckon its fun watching some of the cornflake packet analysis,
treat them like an add break on a tv movie...
make yourself a cuppa, have a stretch and
get back to the charts...
***warning vegemite advert ahead....
any way interesting to note the move yest hit an extension
of 223.6 = 1.382/0.618 -> gotta love the golden ratio!
I reckon its fun watching some of the cornflake packet analysis,
treat them like an add break on a tv movie...
make yourself a cuppa, have a stretch and
get back to the charts...
***warning vegemite advert ahead....
any way interesting to note the move yest hit an extension
of 223.6 = 1.382/0.618 -> gotta love the golden ratio!
- #268,898
- Jan 17, 2011 6:15pm Jan 17, 2011 6:15pm
- Joined Feb 2009 | Status: Half in the Bag | 17,827 Posts
Due to some health reasons....
I will be taking some time away from my trading and posting here at FF...
Good luck and trade well...
M
I will be taking some time away from my trading and posting here at FF...
Good luck and trade well...
M
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!