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Cable Update (GBPUSD)

  • #270,941
  • Edited 8:41am Feb 3, 2011 8:32am | Edited 8:41am
Quoting redbeben
told you I have no clue about fundies here....first of all I don't trust them but I belive in the power of manipulation.for example Greece that had hidden his deficit and was reporting a diff one a lot smaller

I mean the govt was so corrupted and maybe they did receive shit loads of money from investors to keep the bubble until somebody found out.

The only thing affecting the market is the colective thinking.once a sheep sees a wolf she will move away and the whole herd will follow

the sheep is the bank with money or a govt.once it...
The above is as good a Text on Investment / Speculation as one can find anywhere.
Sorry been gone ----been over my head in umpteen things - haven't fixed on a MT4 broker so not much progress on download but did revise my study on Ichi. I had studied it previously - OK but the concept of prices shifted xx days in the past affecting future prices, didn't sink in then. Now with your empirical study of its effectiveness, going to go for it again. Another reason was, I was successful enough with conventional methods, so didn't feel the need....but with someone like you carrying the torch, going to go for it. And then the Target is worth the effort ... High up - The Desire of the Moth for The Star - with a difference - would like to ease the burden of ... with the advantage gained.

Your present "interlocutor" seems to be another Engineer - the idea is difficult to grasp for "non-analytical" minds.

Wish You and the Group involved (incl. myself) Success beyond "The Rainbow of Hopes".
  • #270,942
  • Feb 3, 2011 8:44am Feb 3, 2011 8:44am
Quoting vilas
The above is as good a Text on Investment / Speculation as one can find anywhere.
[color=blue]Sorry been gone ----been over my head in umpteen things - haven't fixed on a MT4 broker so not much progress on download but did revise my on Ichi. I had studied it previously - OK but the concept of prices shifted xx days in the past affecting future prices, didn't sink in then. Now with your empirical study of its effectiveness, going to go for it again. Another reason was, I was successful enough with conventional methods, so didn't...
Que?
i thought the idea,premise, basis of an interactive thread is to offer up analysis based on charts in as simple terms as possible in order to gain feedback in as simple terms as possible
Why are you trying to be so enigmatic about whatever on earth you are trying to say? I humbly suggest that you go back to whatever PM you have recently come from.
All systems of divination, like music itself,work through patterns.
  • #270,943
  • Edited 8:51am Feb 3, 2011 8:49am | Edited 8:51am
Add
Quoting kaspopsicle
Que?
i thought the idea,premise, basis of an interactive thread is to offer up analysis based on charts in as simple terms as possible in order to gain feedback in as simple terms as possible
Why are you trying to be so enigmatic about whatever on earth you are trying to say? I humbly suggest that you go back to whatever PM you have recently come from.
You are way off the mark my friend ! My remarks were intended to acknowledge the effect of Fundies that misguide as often as they seek to guide. Everyone has seen how the eco figs come out good and the Currency goes down and the other way ! Come one man - live and let live ! We are all here to learn from others - but I follow things that are not commonly discussed.

Further, I am not much good at Posting Charts even if I can draw a Trendline and I do not use MT4, which makes it all seem a bit too tough for me.

No harm meant neither is it esoteric, Kap ! Have a Good Day.
BTW, what is PM - not well versed in thing lingo.

Regards.
  • #270,944
  • Feb 3, 2011 8:49am Feb 3, 2011 8:49am
Quoting vilas
The above is as good a Text on Investment / Speculation as one can find anywhere.
[color=blue]Sorry been gone ----been over my head in umpteen things - haven't fixed on a MT4 broker so not much progress on download but did revise my study on Ichi. I had studied it previously - OK but the concept of prices shifted xx days in the past affecting future prices, didn't sink in then. Now with your empirical study of its effectiveness, going to go for it again. Another reason was, I was successful enough with conventional methods,...
hello vilas my friend

thank you for the kind words.

I don't try to predict the market or tell other people to take what I say for granted...never ever follow me as I might be drunk or upsat....or just stupid sometimes.

all I do is just explain how I work and what I see.

DO NOT CHANGE YOUR STRATEGY

if you like what I do all you have to do is adjust your own strategy tunning it acc to the new info.

that's why I said that with so many good traders here if joined in thinking we can become a giant one of a kind trader we could become a shark on our own

but please please keep your strategy.as long as it had good results it will still have in the future.with what I use,and you saw it on the charts posted lately I can identify entry and exit points

If it works for me it could not work for somebody else.for me so far it brought 340 consecutive winning trades and took my acc to 2000% increase so far

when I will have more money and move to the big league I will crap my pants and change the strategy for sure as my mind has not been reset yet....I come from a poor country and the winnings I had today means 5 salaries back there


so.....if you still want I can show you in a more accurate description how I see the charts

'till then....the rainbow still waits for us
  • #270,945
  • Feb 3, 2011 9:05am Feb 3, 2011 9:05am
now comes the tricky part

as I said earlier today the price will drop to 1.6134.

but please help me out here

on my S R indi I have the S line at 1.6139

I see it on ichi at 1.6134 and indeed it stopped there so far.

on action forex I have 1.6125 as S line

If price will brake and close under this area 1.6140-1.6125(better 25 to be sure )it will go down to 1.6050(48 acc to ichi)


pull back now for some 10 pips as we have a flat line on M5 and we have the bounce from the S level

p.s. please be careful as this might be a strong reversal already
GBP is weaker and weaker and USD is gaining a lot now

just saw it ...damn I don't think it will come back up before 1.6050 or even 1.5750 i mean up to 1.6298 what need's to be tested
sorry
  • #270,946
  • Feb 3, 2011 9:08am Feb 3, 2011 9:08am
Quoting amarfx
6168 below disaster to bulls
Disaster over time for bulls again to buy
  • #270,947
  • Feb 3, 2011 9:09am Feb 3, 2011 9:09am
[quote=vilas;4368873]Add

You are way off the mark my friend ! My remarks were intended to acknowledge the effect of Fundies that misguide as often as they seek to guide. Everyone has seen how the eco figs come out good and the Currency goes down and the other way ! Come one man - live and let live ! We are all here to learn from others - but I follow things that are not commonly discussed.

Further, I am not much good at Posting Charts even if I can draw a Trendline and I do not use MT4, which makes it all seem a bit too tough for me.

No harm meant neither is it esoteric, Kap ! Have a Good Day.
BTW, what is PM - not well versed in thing lingo.

I have never seen you contribute anything other than the occasional complicated verbal opinion on issues that we are all aware of.
If you are "following things that are not commonly discussed" i've got news for you... this thread is an interactive Trading thread'
You're heading of being "well of the mark" is, i acknowledge, your usual lack of style and ignorance to your environment.

Trade well...if you ever do.

BTW your PM which has just come through...( having feigned ignorance of what a PM is a few minutes ago) has been binned without reading
All systems of divination, like music itself,work through patterns.
  • #270,948
  • Feb 3, 2011 9:14am Feb 3, 2011 9:14am
Quoting redbeben
hello vilas my friend

thank you for the kind words.

I don't try to predict the market or tell other people to take what I say for granted...never ever follow me as I might be drunk or upsat....or just stupid sometimes.

all I do is just explain how I work and what I see.

DO NOT CHANGE YOUR STRATEGY

if you like what I do all you have to do is adjust your own strategy tunning it acc to the new info.

that's why I said that with so many good traders here if joined in thinking we can become a giant one of a kind trader we could become...
Thanks for understanding. My strategy is OK but it is time and energy-hungry - I watch the markets like a hawk and pounce when I see OB/OS conditions. Get tired like hell at the end of day ! Another thing I am strategy-hungry - want as many as I can manage - when one does not work, the other chips in. Basically, I am looking for a bit of predictive method - give me more time to think of bette things.

ASA I fix up a MT4 Broker, I will look forward to more of your guidance in Ichi. And don't worry, I will not abandon my ways - they have served me well but having a second arrow to the bow ? Nothing wrong with that !

So your record has grown bigger. Please see my PM.

Happy Trading !
  • #270,949
  • Feb 3, 2011 9:23am Feb 3, 2011 9:23am
Quoting fxcg
What i'm seeing is trend is up but it is not safe to buy at these levels. I would better wait till the end of week to see how the weekly candle closes. If weekly closes above 1.5990/05, will join the long party.
It's now good to buy some cable @6100/10
  • #270,950
  • Feb 3, 2011 9:40am Feb 3, 2011 9:40am
How much do u know the ichi technique? wld be glad to share idea's. thxs.


Quoting Exsilium
Below are my charts. I see many signs of down trend, but for the short term we might bounce up a bit as several indicators are in oversold positions and we just bounced off the 1H ichi cloud.
  • #270,951
  • Feb 3, 2011 9:41am Feb 3, 2011 9:41am
Quoting Euroscum
That move was nothing to do with your chart it was fundamentals and the PMI surge data release that caused the spike. You cannot work on charts alone to predict how markets react to news.

I certainly do. I slept through it all. lol

There was a negative CHF trade balance reported about the same time as that spike
displayed on my chart and another 3 hrs later around the GBP PMI (not shown on that
chart I posted) strongly correlated with both charts (GBP/USD and GBP/CHF reacting
the same). I would never disregard fundamental having an affect of PA and chart
analysis. No argument here. Don't trade immediately ahead of news.

With that admission....

What I have observed is this: leading up to and following news events (and even in
times of no pending news) the market takes these postures of caution, indecision and
uncertainty and logical and even irrational exhuberance most often reflected in the
collective patterns of EMAs (and other charting displays). The mood of the mob prevails
beyond the fundamentals and is also often well ahead of the release as seen in compression
patterns while the events and data releases are often only the excuse and catalyst to
move the PA in accordance to the decided mood... and not always logically in the direction
of the data. So, I can work on charts 'alone'.... never to "predict how markets react to
news" but to use as an immediate and continual display of its reactions to the events (real
or imagined). In all cases, data matters less... while the markets reaction matters more.
You can have your specific and lonely fundamentals and I'll take the irrational mood of
the mob and the cuckoo's nest.

Finally, when the EMAs compress (with or without a pending event) they are their own
source of energy and volatile fuse signalling an imminent and often violent near vertical
movement in PA because they are the direct visual display of market mood dynamics.
When the EMAs are separating, expanding and extended (well into a price movement)
they carry an perpetual inertia and momentum that reflects the changing market mood.
The markets (mood of the mob) are more often ahead of the scheduled events and
immediately and continually all over those unscheduled events.

These are just my sweet dreams.

Dr. D.
  • #270,952
  • Feb 3, 2011 9:52am Feb 3, 2011 9:52am
All shorts offloaded.

But boy o boy that was a dirty and desperate spike at .280 Although Im sure they triggered tons of stop loss orders at that point.

We are in a barrel with sharks after-all.
  • #270,953
  • Feb 3, 2011 10:00am Feb 3, 2011 10:00am
Neckline of inverse head and shoulders to provide support @ 16050 - 16090 should it get there...
Attached Image (click to enlarge)
Click to Enlarge Name: NL.jpg Size: 97 KB
  • #270,954
  • Feb 3, 2011 10:04am Feb 3, 2011 10:04am
Quoting Warwick
All shorts offloaded.

But boy o boy that was a dirty and desperate spike at .280 Although Im sure they triggered tons of stop loss orders at that point.

We are in a barrel with sharks after-all.
I would have thought bear-stops 16300+ ... tons of SL being hit would have given a much bigger move north
  • #270,955
  • Feb 3, 2011 10:09am Feb 3, 2011 10:09am
Quoting chazzle
I would have thought bear-stops 16300+ ... tons of SL being hit would have given a much bigger move north
Well your right, under normal circumstances it would have popped up quite a bit, I was expecting it to, but it was too ordered, as if an ample amount of supply was there lurking for that right moment.

1.6275 is just as pretty as 1.6300 for most retail traders.
  • #270,956
  • Feb 3, 2011 10:12am Feb 3, 2011 10:12am
Quoting redbeben
....

The only thing affecting the market is the colective thinking.once a sheep sees a wolf she will move away and the whole herd will follow

the sheep is the bank with money or a govt.once it moves we all follow....even if the news are in contradiction to the market move

that's why I never got involved in studying the fundies
Now why couldn't I have said that.

Dr. D.
  • #270,957
  • Feb 3, 2011 10:14am Feb 3, 2011 10:14am
Quoting Warwick
Well your right, under normal circumstances it would have popped up quite a bit, I was expecting it to, but it was too ordered, as if an ample amount of supply was there lurking for that right moment.

1.6275 is just as pretty as 1.6300 for most retail traders.
but don't forget retail traders just 8% - 9% of total fx volume and not enough to move the market - even if they all traded in the same direction at the same time
  • #270,958
  • Feb 3, 2011 10:16am Feb 3, 2011 10:16am
Quoting chazzle
but don't forget retail traders just 8% - 9% of total fx volume and not enough to move the market - even if they all traded in the same direction at the same time

I dunno man, call me a nut' but lol, it doesn't seem that way. Its almost as if were the targets 99% of the time.

But of course, we are small fries in the grander scheme of things.
  • #270,959
  • Feb 3, 2011 10:29am Feb 3, 2011 10:29am
This trade might be a winner and it might be a loser.
The only thing we are ever certain about is our Risk

If we don't manage it well, it'll make fools of us.

Rob
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD 15 Min 3 feb 2011.jpg Size: 89 KB
  • #270,960
  • Feb 3, 2011 11:21am Feb 3, 2011 11:21am
Quoting fendi
How much do u know the ichi technique? wld be glad to share idea's. thxs.
I know what the instructions say, thats about it. I dont feel confident in my understanding of the ichi really, i just use it together with other indicators. But if you have some insight that hasnt been shared here, please feel free. I am always looking to expand my knowledge and skill.
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