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Cable Update (GBPUSD)

  • #294,001
  • Dec 5, 2011 7:07am Dec 5, 2011 7:07am
Just to fulfill my 1000 posts.
Hopefully not too much crap out of me, all this time.

Europe's rich move assets amid euro fears


.
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  • #294,002
  • Dec 5, 2011 7:16am Dec 5, 2011 7:16am
Hi everyone,

I hope that this week is good for all of you.

I would like to share my point of view on GBP-USD, which is backed by some technical evidence.

We are going to start highlighting the 4 hour time frame, then the daily time frame. The 4h time frame is showing a very important price pattern. It's Head and Shoulders top pattern. Its a very important sign that shows that the pair may go bearish. We have to pay more attention to the Head and Shoulders neckline. If it did break, the price would go down. At least, around this level : 1.5560 as a correction to 0.618 Fibonacci.

http://www.borsaat.com/vb/uploaded/7351_1323090860.gif

Moreover, we have more than a factor besides that neckline, which is acting as a strong support level. So. We would call it, a cluster level. Its really a very strong level. It's worthwhile to keep an eye on it.

We have a question now that is what if the pair did go down, and trade under 1.5560. In this case, I think that it would be very suitable to go buy around 1.5400. Then setting stop loss as 50 point from the entering point.

http://www.borsaat.com/vb/uploaded/7351_1323090811.gif

Otherwise, price trading above those levels which have already mentioned, is a bullish sign that may take us around 1.5800 in a few days.

This analysis aims to show you the price movements in the short term. I hope that helps.
  • #294,003
  • Dec 5, 2011 7:21am Dec 5, 2011 7:21am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
TT,

You better throw up now. What have you done to the market, even my demo trades arn't going anywhere...killing all the monopoly profit I have made

Quoting TauTrader
Good day to you,

Bleh
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  • #294,004
  • Dec 5, 2011 7:24am Dec 5, 2011 7:24am
Quoting gsantri
Just to fulfill my 1000 posts.
Hopefully not too much crap out of me, all this time.

Europe's rich move assets amid euro fears


.
Good day, Sir

Congrats on 1000 posts. Have seen you grown over the past 18 months to become a good chartist and develop a good understanding of fundamentals.

May you continue to grow and develop into an even better trader. You are a great person and shows a lot of respect to your fellow traders. I am proud to "know" you.

I wish you only the best

Warm regards

TT
  • #294,005
  • Dec 5, 2011 7:32am Dec 5, 2011 7:32am
Quoting ams
TT,

You better throw up now. What have you done to the market, even my demo trades arn't going anywhere...killing all the monopoly profit I have made
Good day,

Heh - surely you can better the $5 000 000.00 account Wormy has created? What's wrong with you...

It's all sooo plastic right now. I'm gonna have to make a decision on this soon. I have my + 30 pip level ( down from 100 pips) - ready and waiting. As soon as price clears that - i'm out.

Imagine that - a whole day spent depleting profit. Gmf.

I am just not sold on this...well, I did sell - but you know what I mean
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  • #294,006
  • Dec 5, 2011 7:37am Dec 5, 2011 7:37am
Quoting gsantri
Just to fulfill my 1000 posts.
Hopefully not too much crap out of me, all this time.

Europe's rich move assets amid euro fears


.
Yes, congratulations gsantri, on 1,000 posts. Always look out for your posts.

Interesting triangle. All the majors still stuck in the NFP range as far as I can see. This means to me that the gains the USD made last week are unlikely to stick. New York hasn't exactly picked up the baton either.

Anyway gsantri, trade carefully and I wish you all success.
Gone to a better place
  • #294,007
  • Dec 5, 2011 7:41am Dec 5, 2011 7:41am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
lol, nah..even with monopoloy money I am playing as I should be with the real money, after all darn robot will be inacharge of me money. Developing Quantative Trading system (Q word is in fashion in the financial markets)

System is trading what markets tell it to do..........

Personal Bias is bearish (below 162 cable is in the hand of bears)
I think we are good to go down but as usual my other isde is right
Hence the system to trade own it's own and no bias. Untill I've made 15-20 % PM for 3 continous months (in my dreams only) I'll not go live. So long way to test.



Quoting TauTrader
Good day,

Heh - surely you can better the $5 000 000.00 account Wormy has created? What's wrong with you...

It's all sooo plastic right now. I'm gonna have to make a decision on this soon. I have my + 30 pip level ( down from 100 pips) - ready and waiting. As soon as price clears that - i'm out.

Imagine that - a whole day spent depleting profit. Gmf.

I am just not sold on this...well, I did sell - but you know what I mean
  • #294,008
  • Dec 5, 2011 8:31am Dec 5, 2011 8:31am
Quoting ams
lol, nah..even with monopoloy money I am playing as I should be with the real money, after all darn robot will be inacharge of me money. Developing Quantative Trading system (Q word is in fashion in the financial markets)

System is trading what markets tell it to do..........

Personal Bias is bearish (below 162 cable is in the hand of bears)
I think we are good to go down but as usual my other isde is right
Hence the system to trade own it's own and no bias. Untill I've made 15-20 % PM for 3 continous months (in my dreams only) I'll not...
You must know D E Shaw - has traded Algos for years but is rather high-end and high-tech. Of course all "systems" do what the designer tells them to do - their strength lies in "blind obedience". But I have thought that these are good for LT trading - for short-termers, couldn't be done.

The other day a Hongkonger approached me saying," Yo put your funds in our Managed A/C Prog, then you are free". Grandly offered to Tech me how they trade 24 hrs. I said," EAs". It is possible to trade that way but is it worth it ? One PC failure after entry and you have had it !

But knowing you, would be interested in the results ! And saying that at 2.25 GMT 5 min Candle did nearly 40 points. Does the Q sstem pick up on that or picks up later when the mkt is already headed down ?

I too would say, bias bearish but it is the gyrations that screw up everything !
  • #294,009
  • Edited 9:07am Dec 5, 2011 8:54am | Edited 9:07am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
I reckon all depends on logic and pocket. Afterall it's doing what you would ask it to do and SL TP can be specified with drawdowns too. I like obedient servants

Again, all depends on what kind of system you have developed. System can die unless your brokers system is dead no harm is done to the trade if SL and TP in place. Yeah, with all these years of exp, I would say that I need a system which can give me some return on my investments without me constantly watching on it. With biased trading I have a drawdown on my real account but with "Mr market" doing the trading in form on my EA it's making profits!!

Look at profits for today. loss 120 pips, profit is in the region of 180 so total = 60 not bad for a day where I did nothing and minimal money at stake. It did pick the 40 pips ypu are talking about and trailing is in place for that!

Still in development mode with lots of testing to go so cannot say much. Only results will tell the truth.


Quoting vilas
You must know D E Shaw - has traded Algos for years but is rather high-end and high-tech. Of course all "systems" do what the designer tells them to do - their strength lies in "blind obedience". But I have thought that these are good for LT trading - for short-termers, couldn't be done.

The other day a Hongkonger approached me saying," Yo put your funds in our Managed A/C Prog, then you are free". Grandly offered to Tech me how they trade 24 hrs. I said," EAs". It is possible to trade that way but is it worth it ? One PC failure after...
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  • #294,010
  • Dec 5, 2011 9:03am Dec 5, 2011 9:03am
seems like we reached another resistance level for cable, the 38% fibo level..

Green pips y'all..
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  • #294,011
  • Dec 5, 2011 9:06am Dec 5, 2011 9:06am
Quoting gsantri
Just to fulfill my 1000 posts.
Hopefully not too much crap out of me, all this time.

Europe's rich move assets amid euro fears


.
Congratulation , hope the tl 5708 test underway , US news negative I see .anyway short still active with pending also to see . eu may fail do ( tl 3513 ) with breaks 3454 if .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #294,012
  • Dec 5, 2011 9:07am Dec 5, 2011 9:07am
Quoting ams
I reckon all depends on logic and pocket. Afterall it's doing what you would ask it to do and SL TP can be specified with drawdowns too. I like obedient servants

Again, all depends on what kind of system you have developed. System can die unless your brokers system is dead no harm is done to the trade if SL and TP in place. Yeah, with all these years of exp, I would say that I need a system which can give me some return on my investments without me constantly watching on it. With biased trading I have a drawdown on my real account but with...
I would agree that the results are good but my first objection is the number of markets traded ! When you can make same money trading one or two markets, why take on the risks associated with multiple mkts / Ane then, no one knows what the next moment brings ! If GS comes to know of your EA, they will introduce intelligent SPIKERS and then what will happen to the result. With all said and done, I would rather do it manually ! Yes, there is a way, take the direction from EA and trade Manually. Now is not the time because of low volatility but may be someday, I will challenge your Robot ! How about it ? My problem is in risk tolerance !
  • #294,013
  • Dec 5, 2011 9:12am Dec 5, 2011 9:12am
Quoting fontu
Congratulation , hope the tl test underway , US news negative I see .anyway short still active with pending also to see . eu may fail do do with breaks 3454 if .
fontu
i think eu has a nice breakout retest pattern in 15m to long at about 3455 price level. Judging by the PA level for EG, i think eu will go up while cable retrace.. IMHO.
  • #294,014
  • Dec 5, 2011 9:14am Dec 5, 2011 9:14am
Quoting TauTrader
Congrats on 1000 posts.
Quoting smikester
Yes, congratulations gsantri, on 1,000 posts.
Thank you very much for the supports


Sorry for the delay, I was enjoying the 1000 figure and suddenly it changed to 1001 while I did not post anything... Apparently its the news which I submitted 10 hours ago has just been approved by the FF.

Italy's welfare minister cries while announcing cuts

I categorize this to low-impact breaking news as there is 'human touch, but they put it into entertainment news lol

It is my happiest day after couple times rejected by the FF-news team. finally...

  • #294,015
  • Dec 5, 2011 9:17am Dec 5, 2011 9:17am
I missed it.

such is life. the easy fish slip through sometimes.

sleep is nice right now. money can wait.


zzz
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  • #294,016
  • Dec 5, 2011 9:17am Dec 5, 2011 9:17am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
I thought a lot about trading multiple pairs vs. few. If my experience has taught me something, never put your eggs in one basket.
P & L can be adjusted by the ratio of trades you take during the day. GS ain't coming for my 5p system :-)

Example: Euro and GBP can go down the drain even if markets are rising.

However, Aussie and Kiwi and indices will rise with rising markets.

My system will be long on all but SL can be hit for euro and gbp which will be hedged by aussie and kiwi and indices vice versa when markets are tanking.

My only concern atm is it's NOT handling commodities very well due to volatility and limitations of MetaTrader (visible in stmt on charts). Hence lot of work needs to be done. Forex is doing ok!

Ok, I (sorry, my EA) accept your challenge whenever you are ready.
Trade 0.1 lot and make as many pips as you want everyday and we will see the winner at the end of the month from the date we agree

I will not be embarrassed if "my EA" loose. I'll kick him out and employ someone better


Quoting vilas
[color=royalblue]I would agree that the results are good but my first objection is the number of markets traded ! When you can make same money trading one or two markets, why take on the risks associated with multiple mkts / Ane then, no one knows what the next moment brings ! If GS comes to know of your EA, they will introduce intelligent SPIKERS and then what will happen to the result. With all said and done, I would rather do it manually ! Yes, there is a way, take the direction from EA and trade Manually. Now is not the time because of low volatility...
  • #294,017
  • Dec 5, 2011 9:19am Dec 5, 2011 9:19am
Quoting A-speculator
i think eu has a nice breakout retest pattern in 15m to long at about 3455 price level. Judging by the PA level for EG, i think eu will go up while cable retrace.. IMHO.
ok , thanks 3454 not broken & price bounce up again for 1 more leg & so tl test possible also .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #294,018
  • Dec 5, 2011 9:27am Dec 5, 2011 9:27am
Quoting PoundTrader
we should have a nice ride up to 1.5780
don't know if price will reach this high today, just have to wait and see already close half my position
  • #294,019
  • Dec 5, 2011 9:29am Dec 5, 2011 9:29am
Quoting fontu
ok , thanks 3454 not broken & price bounce up again for 1 more leg & so tl test possible also .
fontu
this is my position for fiber in 15m TF. currently watching if the price is able to close above the 23 fibo level in 4h to confirms the upmove hypothesis.
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  • #294,020
  • Dec 5, 2011 9:31am Dec 5, 2011 9:31am
if we break here , 5776
267 traders viewing now, 1 is registered:
bblizardd