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Cable Update (GBPUSD)

  • #292,381
  • Nov 11, 2011 11:03am Nov 11, 2011 11:03am
Quoting Luther
If you want to make money trading, erase all your lines.

I trade on a GalaxyS. I can't even draw a tendline on this bullshit technolgy but I can see the lines in my mind. The cleverist trick is not to be tricky or clever.

Watch the price with just your mind. MT4 gives you every reason not to trust your better judgement for PA.

i agreee

in my chart only some supplydemand area and main patterns' lines


.....and ema 60+200 in m1 chart always help!!
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90% of traders use TA, indicators and prediction
  • #292,382
  • Nov 11, 2011 11:11am Nov 11, 2011 11:11am
Quoting _BBKing_
what makes non sense is that EU still going up less than GU
EU moves up more aggressively than GU now
  • #292,383
  • Nov 11, 2011 11:18am Nov 11, 2011 11:18am
Good on you mate. Your charts are getting sexy!

I love this thread.




Quoting _BBKing_
i agreee

in my chart only some supplydemand area and main patterns' lines


.....and ema 60+200 in m1 chart always help!!
  • #292,384
  • Nov 11, 2011 11:19am Nov 11, 2011 11:19am
Quoting Yuchen
EU moves up more aggressively than GU now

yes noticed!
when i posted it was stuck near 3720 or so..
90% of traders use TA, indicators and prediction
  • #292,385
  • Nov 11, 2011 11:33am Nov 11, 2011 11:33am
with an explosive move over the last 3hrs or so it seems to be exhausted on the HR1 chart as it came close to previous high.
Short @ 1.6070 with stop @ 1.6135. Target 1.6000.
  • #292,386
  • Nov 11, 2011 11:43am Nov 11, 2011 11:43am
One last thought for the day.

MAs are the hobnob of small minds. It's an average. So it's like the girl who says I'll love you forever, until she doesn't. But you love her, so you forgive all the times she strays.
Until one day you realize she wasn't so special, and you give up on your dependency on her, because that's all it ever really was.

Screw MAs. They're just curvy distractions.

Quoting _BBKing_
i agreee

in my chart only some supplydemand area and main patterns' lines


.....and ema 60+200 in m1 chart always help!!
  • #292,387
  • Nov 11, 2011 11:54am Nov 11, 2011 11:54am
Quoting Luther
One last thought for the day.

MAs are the hobnob of small minds. It is average. So it's like the girl who says I'll love you forever, until she doesn't. But you love her, so you forgive the times she strays.
Until one day you realize she wasn't so special, and you give up on your dependency on her, because that's all it ever really was.

Screw MAs. They're just pretty distractions.

what you say is right 99%
that 1% is i need sometimes a bit thing to be more confident in an entry

then indicators, and all those things only confuses!
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90% of traders use TA, indicators and prediction
  • #292,388
  • Nov 11, 2011 12:05pm Nov 11, 2011 12:05pm
Quoting _BBKing_
what you say is right 99%
that 1% is i need sometimes a bit thing to be more confident in an entry

then indicators, and all those things only confuses!
All those signals are there in the price.

the indicators are like training wheels on a bike.

so at some point it all comes down to trust.
Do you trust your mind? Do you trust you can read?

if you have no trust then you live in fear.
this is what creates dependency.

To be a great trader you need to trust yourself completely.

If you can do this one simple thing all the doors are open.

Simple and easy are completely seperate matters.
  • #292,389
  • Nov 11, 2011 12:09pm Nov 11, 2011 12:09pm
but then.. afterall, really there is nothing which can really help.
there is only something that sometimes is more probable than others 49-51%

also trendlines no helps. what is the rule for them to hold price?!
how many times price goes further a line then back.
and this is same also for supplies and demands area: why we feel confident on a level instead of the other?

thinking about this there is also no sense in trading.. lol
90% of traders use TA, indicators and prediction
  • #292,390
  • Nov 11, 2011 12:24pm Nov 11, 2011 12:24pm
Quoting Luther
All those signals are there in the price.

the indicators are like training wheels on a bike.

so at some point it all comes down to trust.
Do you trust your mind? Do you trust you can read?

if you have no trust then you live in fear.
this is what creates dependency.

To be a great trader you need to trust yourself completely.

If you can do this one simple thing all the doors are open.

Simple and easy are completely seperate matters.

couldn't agree more on what you say!
i dont know since when you read thread, but its only this week i decided to completely erase things on charts! and exactly wendsday.
there was something which made me in doubt in a lot of trades.
only this week i discovered what was!

i forgot about this thing. my first trades in forex i did thousands dollars profits, without indicators.

then same money in loss when i began reading indicators.

ages ago when i was trading before sept 2001, there were no indicators.... only price up or price down.
wendsday indicators completely confused my study.
yesterday was first full trading day without indi: got good profits!
today got a mistake, i was here 50%.

oh well. overall bad week in profits but excellent week in personal growth!
90% of traders use TA, indicators and prediction
  • #292,391
  • Nov 11, 2011 3:10pm Nov 11, 2011 3:10pm
Lets see how it will look after weekend .
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  • #292,392
  • Nov 11, 2011 3:54pm Nov 11, 2011 3:54pm
Quoting Luther
All those signals are there in the price.

the indicators are like training wheels on a bike.

so at some point it all comes down to trust.
Do you trust your mind? Do you trust you can read?

if you have no trust then you live in fear.
this is what creates dependency.

To be a great trader you need to trust yourself completely.

If you can do this one simple thing all the doors are open.

Simple and easy are completely seperate matters.
u actually deserve a vouch for saying this..1000% agree
at the end of the day..trading is impossible to hold a position without complete trust in your ability..after a while it becomes quite easy u only have to pick a position, work out yur risk and stick to yur plan..without trust there is no belief and without belief u cant have a positive mental attitude which will always bring out fear..and yur plan gone down the drain

after a while u realise why things work..pattern formations emas..u can read a chart without any indicator but u need to understand price action completely..

well said man!!..golden nugget post
  • #292,393
  • Nov 12, 2011 7:53am Nov 12, 2011 7:53am
GBP/USD – Bias (Overall): Neutral

http://lcchong.files.wordpress.com/2...ng?w=837&h=382
  • #292,394
  • Nov 12, 2011 9:41am Nov 12, 2011 9:41am
Quoting clc4x
GBP/USD – Bias (Overall): Neutral

http://lcchong.files.wordpress.com/2...ng?w=837&h=382

last week printed a bearish candle 1.59 was a target for the bears..this week, price went to the lows 1.59 area price rejected and has closed higher than the open assuming it remain this way..

do u consider this to be neutral?
  • #292,395
  • Edited 2:55pm Nov 12, 2011 12:18pm | Edited 2:55pm
My take re overall price action - peak/valley analysis and 'general conditions: '

1hr closed bullish, 4hr rangy with a bullish tone, daily bullish - rangy with an overall bullish tone after a smart recovery off the slightly LL at last week's low. Weekly is rangy again with a recent bullish tone as price re-enters the recent range ...although noting the recent LL out of that recent weekly range (red dotted lines) on that t/f.

Re recent individual candles on 4hr/daily/weekly - Friday's last 4hr and daily candles were very bullish (daily in particular) and last week's weekly candle was a PB candle that followed the previous week's weekly hammer candle - so probably bullish.

So overall it looks more bullish than bearish at Friday's close. Of course all 'risk on' bets could be off if something else happens in Europe.

G/L
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ex member
  • #292,396
  • Nov 12, 2011 1:10pm Nov 12, 2011 1:10pm
3 chart

lower time frame suggest bearish pullback scenero but i believe the weekly is more accurate as for sure it appear bullish..and about to step into a new range leading to 1.63..time will tell

example of how low time frame can finish u off!!!

monthly will superseed

kinda depends on the open..
gold is bullish and oil as well
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  • #292,397
  • Nov 12, 2011 6:07pm Nov 12, 2011 6:07pm
Quoting nAVIN2007
last week printed a bearish candle 1.59 was a target for the bears..this week, price went to the lows 1.59 area price rejected and has closed higher than the open assuming it remain this way..

do u consider this to be neutral?
Yes, for the time being, still neutral.
  • #292,398
  • Nov 12, 2011 8:12pm Nov 12, 2011 8:12pm
Quoting TauTrader
The dance is awesome. Gonna try it.
Actually that was your dance. shortly after.. Occupy Wall Street ?
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  • #292,399
  • Nov 13, 2011 4:46am Nov 13, 2011 4:46am
well weekly closed above my critical 6040 level, trend is up, but i missed the 5870 entry...so ill wait for higher prices to sell this again ( around 63 64 level ).

whats your take guys?

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Hero calls followed by margin calls...
  • #292,400
  • Nov 13, 2011 9:17am Nov 13, 2011 9:17am
4hr shows Friday's close finding some supply at the underside of the previous 1hr ascending channel bottom (green wide dotted)

Plentry of potential near-term resistance factors overhead including a 1hr 4hr and daily descending trend line.

How stong are the bulls - will markets take heart at potential new Italian Govt/PM ?

G/L
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