90% of traders use TA, indicators and prediction
Cable Update (GBPUSD)
- #296,221
- Dec 30, 2011 7:45am Dec 30, 2011 7:45am
- Joined Apr 2010 | Status: Today is my first trading day! | 9,452 Posts
- #296,222
- Dec 30, 2011 7:46am Dec 30, 2011 7:46am
- | Membership Revoked | Joined Mar 2010 | 3,853 Posts
All systems of divination, like music itself,work through patterns.
- #296,223
- Dec 30, 2011 7:48am Dec 30, 2011 7:48am
- Joined May 2009 | Status: Trader | 4,895 Posts
sorry, i wrote 1.95 but was meaning 0.95....
then, i must admit i dont know very well about correlations but i don't think that if GU is a buy, USD CHF is certainly a sell.
i mean: GU can move 200-400 pips up or down, and in that meanwhile usd chf can move some 80-100
anyway, as i said its not yet a buy in usd chf. was a bit sarcastic saying "unless it goes today above 0.95".
im talking of a possible consolidation pattern above 9300-9350
Let me elaborate on how correlations work in a nut shell. at least how i view it.
swissy is more correlated to fiber. so if swissy sell, fiber will normally a buy. and cable has also some correlation with fiber, meaning that if cable go up, fiber will normally go up eventually. but sometimes this not normally true, which means that sometime cable go down but fiber stagnant. this is where EG comes in.
all this correlations must have technical reasons for it to correlate meaning that if swissy is at about resistance, fiber is normally close to support, if it's not, check with EG on the closest support zone. if all line up well, you can normally see where the price will be in either fiber or cable.
as you can see, if trade synthetic pairs, the correlations on finding the valid technical analysis will be a bit more complex but do able.
it's not only about S&R level, it also about momentum.. how much each of the correlated pairs move.. and it's does not correlate in one way direction, it will always 2 ways meaning that every effect on one pairs will effect the other..
- #296,224
- Edited 8:05am Dec 30, 2011 7:50am | Edited 8:05am
- Joined Jul 2007 | Status: Trader | 5,392 Posts
ex member
- #296,225
- Dec 30, 2011 7:53am Dec 30, 2011 7:53am
- Joined Aug 2010 | Status: Trader | 3,185 Posts
I don't trust any move - when you have profit...take it.
- #296,227
- Dec 30, 2011 8:04am Dec 30, 2011 8:04am
- Joined Apr 2010 | Status: Today is my first trading day! | 9,452 Posts
about my eur chf long
90% of traders use TA, indicators and prediction
- #296,228
- Dec 30, 2011 8:13am Dec 30, 2011 8:13am
- Joined May 2009 | Status: Trader | 4,895 Posts
at first glance of the graph, i see that eurchf move following swissy as the dominant direction. this might not be true, but from the weekly pattern, i don't think the pair wanna go up due to lower high that the pair is making and consolidation at the current level. this is just based on 5 mins analysis, please don't take this seriously and it's been a while since i trade this pair, and might have loss the feel for the pair.
- #296,230
- Dec 30, 2011 8:19am Dec 30, 2011 8:19am
- Joined Apr 2010 | Status: Today is my first trading day! | 9,452 Posts
i have not been trading synthetic pairs for sometime so please take this lightly.
at first glance of the graph, i see that eurchf move following swissy as the dominant direction. this might not be true, but from the weekly pattern, i don't think the pair wanna go up due to lower high that the pair is making and consolidation at the current level. this is just based on 5 mins analysis, please don't take this seriously and it's been a while since i trade this pair, and might have loss the feel for the pair.
oh well... i closed main position in very small loss few minutes ago.
90% of traders use TA, indicators and prediction
- #296,231
- Dec 30, 2011 8:24am Dec 30, 2011 8:24am
- Joined May 2009 | Status: Trader | 4,895 Posts
oh well... i closed main position in very small loss few minutes ago.
see u later, mate.
- #296,233
- Dec 30, 2011 8:29am Dec 30, 2011 8:29am
- Joined Apr 2010 | Status: Today is my first trading day! | 9,452 Posts
oh well, i think i should be playing game right now.. LOL..
see u later, mate.
im leaving too....
games here are done.
90% of traders use TA, indicators and prediction
- #296,234
- Dec 30, 2011 8:30am Dec 30, 2011 8:30am
- Joined Sep 2010 | Status: Life Time Member | 6,685 Posts
you did a very good sharing!!
my compliments for your trading!
giving you my vouch! dont sell it for less than 1k
enjoy your weekend my friend - #296,235
- Dec 30, 2011 8:35am Dec 30, 2011 8:35am
- Joined Sep 2010 | Status: Life Time Member | 6,685 Posts
i wont be trading next week, i am gonna be fck up for the whole week, lots of partying, this is when i get to let loose. 
- #296,236
- Dec 30, 2011 8:50am Dec 30, 2011 8:50am
- Joined Mar 2008 | Status: Name real with real own way | 23,413 Posts
Not understand?better not follow my analyses!doubt clearer first, risks ++
- #296,237
- Dec 30, 2011 9:31am Dec 30, 2011 9:31am
- | Membership Revoked | Joined Mar 2010 | 3,853 Posts
All systems of divination, like music itself,work through patterns.
- #296,238
- Dec 30, 2011 9:53am Dec 30, 2011 9:53am
- Joined Mar 2008 | Status: Name real with real own way | 23,413 Posts
Not understand?better not follow my analyses!doubt clearer first, risks ++
- #296,239
- Dec 30, 2011 9:55am Dec 30, 2011 9:55am
- | Membership Revoked | Joined Mar 2010 | 3,853 Posts
Thanks , same to you , family & friends . Now doji & sell of in h1 tf eu , & gu & ebven au also ( developing sell off there ) to see the start at least for some good pips .
fontu
All systems of divination, like music itself,work through patterns.
- #296,240
- Dec 30, 2011 12:30pm Dec 30, 2011 12:30pm
- Joined May 2011 | Status: Get to the Chopper | 17,905 Posts
Come with me if you want to live....