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Cable Update (GBPUSD)

  • #283,101
  • Jul 3, 2011 12:31pm Jul 3, 2011 12:31pm
Hi everyone.
I have just joined this thread. I enjoy reading this thread so as an appreacitation I am here to shate my input.
I have been trading cable for almost two years, and have made consistent profits.
There is one simple simple method that I use. I DON'T follow news. I DON'T know how to read charts, I am uneducated. (what I mean is I am not a confused person, reading and rereading charts with all its beautiful colours) My secret to sucsess is just to learn the following two strategies.
One, useing a long term TF (Daily - weekly) decide direction of market (Which in my opinion is LONG LONG. then enter with 'mimimual' lot size. and now comes the most important word P A T I E N C E. Just sit and wait. (I have waited sometimes over 6 weeks, but the market always came back). Now as a foot note if the markes goes against you, wait until it reaches the next pivot level and then buy again minimual amount. If you are able to follow this, then you will NOT become rich but you will consistently make and not lose money.
  • #283,102
  • Jul 3, 2011 1:07pm Jul 3, 2011 1:07pm
Hi.
Quote
the most important word P A T I E N C E
I agree.

Quote
the market always came back

I disagree.

Quote
Now as a foot note if the markes goes against you, wait until it reaches the next pivot level and then buy again minimual amount.

Road to disaster.
Trader from Croatia
  • #283,103
  • Jul 3, 2011 3:47pm Jul 3, 2011 3:47pm
On the other hand... some quote's about the sterling.

"the shift in monetary-policy stance away from inflation hawkishness to a more growth-supportive position is the biggest reason why the pound is weaker"

"The growth is not what the market is looking for, so we are returning to the possibility of interest rates staying lower for longer. That keeps sterling a firm sell."
Old Habits Die Hard.
  • #283,104
  • Jul 3, 2011 3:53pm Jul 3, 2011 3:53pm
Hi all,

Would like to get your thoughts on the patterns I drew:

Green : A failed bat pattern? Although there's still a possibility it can get completed if GBP would go bearish?

Red : Completed AB=CD pattern, which makes me believe price will rally?

Yellow : Although I'm not convinced, a possible 5-0 pattern?
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD-failed bat_AB=CD_5-0.jpg Size: 209 KB
  • #283,105
  • Jul 3, 2011 6:58pm Jul 3, 2011 6:58pm
Fibre Just broke north.

I have left in GREEN dashed the LTL from the lows of May 2010!

The line was holding until recent drop off.

200 pips to get above. I am focusing a lot of attention at the 6250 handle.
Intersecting TLs. R3 - Horizontal S/R - a LOT going on there.

200 pips to get above old LTL....
Attached Image (click to enlarge)
Click to Enlarge Name: GBP SYMT JLY 3.png Size: 78 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #283,106
  • Jul 3, 2011 7:03pm Jul 3, 2011 7:03pm
342 Pips from top to bottom of mostly symettrical triangle.

On Breach we would expect the same, which would give us enough juice to get the 200 necessary and sustain old LTL. Crush the top red downslope and destroy 6250 switching back to support.

GBP has been up and down lately with no clear direction besides down to sideways and some consolidation now.

Also any time a headline drops everybody freaks....
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #283,107
  • Jul 3, 2011 8:23pm Jul 3, 2011 8:23pm
From where i see AUDUSD may go down..
WE will see what happens next i willl update progess,
if any body want to see my trading it will be shown at zulu trade under POISONFX name,
tormorrow it will be availabe for you guys to watch the trades i just 75 pips in 1 hours,
EURJY, GBPJPY, EURUSD, AUDUSD, and EURAUD.
each trade near 14 to 16 pips profit,
short term trading because market is not moving much
anyways,
i am still bearish on EU, AU and Gu
for GU it is possible ot may break resistence if not broken then we may see 1.57 level soon,
if breaks above 1.6250 we may see 1.6440 end of the week,
anyone trading GU please do look charts carefully,
Don't compare your Trades with Others
  • #283,108
  • Jul 3, 2011 8:43pm Jul 3, 2011 8:43pm
Let see in 15 M TF, there is a candle stick formation that is call as the sandwich as the sign to bulls moved but wait for confirmation..let see then the price is trying to test the daily pivot, if fail that will bounce again to get to the R1...
Attached Image (click to enlarge)
Click to Enlarge Name: candlestick sandwich again.gif Size: 27 KB
  • #283,109
  • Jul 3, 2011 9:00pm Jul 3, 2011 9:00pm
dont follow ....
Attached Image (click to enlarge)
Click to Enlarge Name: gu 12 h 4 july.gif Size: 22 KB
not euphoria follower
  • #283,110
  • Jul 3, 2011 9:02pm Jul 3, 2011 9:02pm
See the Bulls move is starting after the formation of candle stick sandwich formed and failed to break the dynamic support line (EMA 50) to go further to test the pivot point.. And now it seems to bounce to the R1 but first it will test the 1.6073 & 1.6093 line..
Attached Image (click to enlarge)
Click to Enlarge Name: bulls move.gif Size: 27 KB
  • #283,111
  • Edited 10:15pm Jul 3, 2011 9:49pm | Edited 10:15pm
See after the formation of candle stick with bulls move failed to break the line 1.6073 the body of candle stick formed the bearish harami formation as a signed for bears move and test again the dynamic support line EMA 50, after it failed to break it formed again the formation of tweezers bottom candle stick as a signed for bulls move and now come to test again the line 1.6073..

we dont need to wait till the price do a break out, why don't we trade the fake out in the sideways, 5 pips in each open if we do that 10 times its already 50 pips and enough for the day then just waiting the Price make a breakout..

Candle stick analysis is the foundation of the Price Action analysis before it continue to the S/R line..

wish this information would be useful for our good together..

Salam
Attached Image (click to enlarge)
Click to Enlarge Name: tweezer bottom again.gif Size: 27 KB
  • #283,112
  • Jul 3, 2011 11:40pm Jul 3, 2011 11:40pm
Breach of SYM. T. Lets see if we can get a test then a breakout.


Quoting XTrade
Fibre Just broke north.

I have left in GREEN dashed the LTL from the lows of May 2010!

The line was holding until recent drop off.

200 pips to get above. I am focusing a lot of attention at the 6250 handle.
Intersecting TLs. R3 - Horizontal S/R - a LOT going on there.

200 pips to get above old LTL....
Attached Image (click to enlarge)
Click to Enlarge Name: GBP SYMT BREACH JULY3 11.GIF Size: 43 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #283,113
  • Jul 3, 2011 11:40pm Jul 3, 2011 11:40pm
As we can see now, the price formed a candle stick formation which is called as "3 White Soldier".. This candle stick formation is indicated a strong Bulls Movement in the next time, but it will not go bulls ride a way, after the formation of the 3 white soldiers formation it will be continued with the consolidation movement first and then it will be continued with the significant bulls movement..

where is the target of this bulls movement ..? R1(1.6113)

Hope this can be a useful information for our good together..

Salam
Attached Image (click to enlarge)
Click to Enlarge Name: 3white soldiers.gif Size: 29 KB
  • #283,114
  • Jul 3, 2011 11:44pm Jul 3, 2011 11:44pm
Sinchan, maybe I am more longer term of a trader but I was thinking pass of r1 to provide targets
1) 6140 nd
2) 6250 test - as aforementioned I am expecting this to be a very influental area in this move.

First we need to get higher though!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #283,115
  • Jul 3, 2011 11:49pm Jul 3, 2011 11:49pm
Quoting XTrade
Sinchan, maybe I am more longer term of a trader but I was thinking pass of r1 to provide targets
1) 6140 nd
2) 6250 test - as aforementioned I am expecting this to be a very influental area in this move.

First we need to get higher though!
yes Bro it is a really good analysis that U provide us with Ur Chart.. I agreed with You, but let we cut the Price movement in to a smaller pieces to get a detail information that we can use it for our own benefit..
  • #283,116
  • Jul 4, 2011 12:04am Jul 4, 2011 12:04am
Thank you,

For a position trade - this below is really the goal I have in mind which all has a strong crux at 6250.

Quoting sinchan
yes Bro it is a really good analysis that U provide us with Ur Chart.. I agreed with You, but let we cut the Price movement in to a smaller pieces to get a detail information that we can use it for our own benefit..
Attached Image (click to enlarge)
Click to Enlarge Name: gbp goal 2.png Size: 82 KB
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #283,117
  • Jul 4, 2011 12:07am Jul 4, 2011 12:07am
Quoting XTrade
Thank you,

For a position trade - this below is really the goal I have in mind which all has a strong crux at 6250.

Amazing Chart and analysis Bro
  • #283,118
  • Jul 4, 2011 12:15am Jul 4, 2011 12:15am
We can see now the consolidation movement is starting after the 3 white soldier formation, after this consolidation movement finish then there will be a significant bulls movement
  • #283,119
  • Jul 4, 2011 12:23am Jul 4, 2011 12:23am
consolidation movement after the forming candle stick formation of "3 White Soldier Formation "

Then It will continued with the strong bulls movement
Attached Image (click to enlarge)
Click to Enlarge Name: consolidation.gif Size: 29 KB
  • #283,120
  • Jul 4, 2011 12:32am Jul 4, 2011 12:32am
see the Bulls Baby coming out in TF 30 M, indicated the consolidation time would be close to an end
Attached Image (click to enlarge)
Click to Enlarge Name: bulls.gif Size: 28 KB
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