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Cable Update (GBPUSD)

  • #298,101
  • Jan 16, 2012 8:19am Jan 16, 2012 8:19am
Quoting _BBKing_
i also have a kind of plan in EU
ok , better give full chance eu bull 2700 test . look good but tough perhaps .
gold again approaching bo level 1641.50 ! au also not far bo 1.0314 & 1.0300!
fontu
Attached Image (click to enlarge)
Click to Enlarge Name: gu4.gif Size: 11 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #298,102
  • Jan 16, 2012 8:25am Jan 16, 2012 8:25am
Quoting TauTrader
Mr.F-

OK - no touchy touchy if. Then touch tomorrow by. Shit o.

I wish I could understand you properly

It drives me crazy!

Time for a drink...

Warm regards
More drink more understand Mr. F.

Highly recommend if touchy longo...there again it may have been pingu, pongo and outo.

Can us kids get a look at your cannon Now plz?
All systems of divination, like music itself,work through patterns.
  • #298,103
  • Jan 16, 2012 8:39am Jan 16, 2012 8:39am
Quoting kaspopsicle
More drink more understand Mr. F.

Highly recommend if touchy longo...there again it may have been pingu, pongo and outo.

Can us kids get a look at your cannon Now plz?
Good day to you,

You are spot on with the pingo,pongo,auto. - Bots running the show.

For the rest of your post...

Sharp as always.

By the way - decided against Canon - will go with Samsung


Regards
  • #298,104
  • Jan 16, 2012 8:43am Jan 16, 2012 8:43am
Quoting TauTrader
Since we are discussing Eu - seldom do I see divergence like this. Price is held up. Friggin' clever dudes. Placing sell for the hell of it. Entry short @ 1.26720..... watch 60 bars on the 15min EU chart wiped in the space of 3 or 4 bars.

Opinion.

Gmff.

Regards
uhm
actually have a short in GU but about EU im holding that small long....
possible wrong take, ok. will decide if closes candles below 2640
90% of traders use TA, indicators and prediction
  • #298,105
  • Jan 16, 2012 8:53am Jan 16, 2012 8:53am
Quoting _BBKing_
uhm
actually have a short in GU but about EU im holding that small long....
possible wrong take, ok. will decide if closes candles below 2640
BB-

I do not get confused easily - only every second day

I'm confused.

I can only trade my charts in the hope that the nett result is in my favour.

PA has been difficult for me today. I may be barking up the wrong tree from the start. So - you stick to your trades as you see them.

Need a drink - will come back later and swear...

Regards my friend
  • #298,106
  • Jan 16, 2012 8:55am Jan 16, 2012 8:55am
Quoting fontu
ok , better give full chance eu bull 2700 test . look good but tough perhaps .
gold again approaching bo level 1641.50 ! au also not far bo 1.0314 & 1.0300!
fontu
while eu,gu preparing breakout down gold also done but 1639.85 breaks also may hint . anyway eu 2647 & gu 5281 will care for short next if reach .
au 1.0314 bo ok need 1.0305 breaks to 1.0285 .
fontu
Attached Image (click to enlarge)
Click to Enlarge Name: gu4.gif Size: 12 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #298,107
  • Jan 16, 2012 8:57am Jan 16, 2012 8:57am
Quoting TauTrader
BB-

I do not get confused easily - only every second day

I'm confused.

I can only trade my charts in the hope that the nett result is in my favour.

PA has been difficult for me today. I may be barking up the wrong tree from the start. So - you stick to your trades as you see them.

Need a drink - will come back later and swear...

Regards my friend

ah sure! don't worry

i never follow anyone! if i get it wrong... happens!
looks like today is a no go in every pair!

have a good drink!
90% of traders use TA, indicators and prediction
  • #298,108
  • Jan 16, 2012 9:00am Jan 16, 2012 9:00am
GU short stopped @be.
uff.
90% of traders use TA, indicators and prediction
  • #298,109
  • Jan 16, 2012 9:05am Jan 16, 2012 9:05am
Ive posted a likely scenario
the fact that US aint open today, ive been eyeing a move up due to the lack of US flow of risk aversion, also its monday,
i dont trade monday's i just monitor for setups

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 21 KB
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #298,110
  • Jan 16, 2012 9:07am Jan 16, 2012 9:07am
Quoting TauTrader
BB-

I do not get confused easily - only every second day

I'm confused.

I can only trade my charts in the hope that the nett result is in my favour.

PA has been difficult for me today. I may be barking up the wrong tree from the start. So - you stick to your trades as you see them.

Need a drink - will come back later and swear...

Regards my friend
Yeah!
All systems of divination, like music itself,work through patterns.
  • #298,111
  • Jan 16, 2012 9:16am Jan 16, 2012 9:16am
Quoting bguguen
Ive posted a likely scenario
the fact that US aint open today, ive been eyeing a move up due to the lack of US flow of risk aversion, also its monday,
i dont trade monday's i just monitor for setups

Attachment
hello,
yes mondays not good for trades imo. not always at least.....
today is really a "no go"
looks like prices will range between openings and friday closings

the only move could happen near draghi's speaking!
90% of traders use TA, indicators and prediction
  • #298,112
  • Jan 16, 2012 9:27am Jan 16, 2012 9:27am
Quoting kaspopsicle
Yeah!
Good day,

Just launched a new book - what ya fink?
Attached Image
  • #298,113
  • Jan 16, 2012 9:32am Jan 16, 2012 9:32am
Quoting TauTrader
Good day,

Just launched a new book - what ya fink?

i might have read it..pre release copy
  • #298,114
  • Edited 9:51am Jan 16, 2012 9:39am | Edited 9:51am
Quoting TauTrader
Good day,

Just launched a new book - what ya fink?
got my card out... i'd pay ...oooh about $150.00 for one of them.

btw is there a chapter on "not taking a position is a position"?

short scalp 12668...oops wrong thread ...
Attached Image (click to enlarge)
Click to Enlarge Name: Spot FX EUR_USD (DFB).png Size: 6 KB
All systems of divination, like music itself,work through patterns.
  • #298,115
  • Jan 16, 2012 9:40am Jan 16, 2012 9:40am
Quoting nAVIN2007
i might have read it..pre release copy
Heh-

We will be on the same side soon....

Beautiful.

You do not need to read this book -.

Market today has been a b*tch. This ranging / consolidating day just f*cks with the brain. Perfect gentlemen - I see you.

I'll just add to any short position I have at present. Last legs down - then kaboom!

Same side

Regards to you
  • #298,116
  • Jan 16, 2012 9:44am Jan 16, 2012 9:44am
Quoting kaspopsicle
got my card out... i'd pay ...oooh about $150.00 for one of them.
Kas,

Ok - thank you. This is more money than earned in a week. pingo pongo auto.

For djoe - I give spesial - $149.99

I have 980 books...

You sure?
  • #298,117
  • Jan 16, 2012 9:45am Jan 16, 2012 9:45am
Quoting TauTrader
Good day,

Just launched a new book - what ya fink?
90% of traders use TA, indicators and prediction
  • #298,118
  • Jan 16, 2012 9:49am Jan 16, 2012 9:49am
Quoting TauTrader
Heh-

We will be on the same side soon....

Beautiful.

You do not need to read this book -.

Market today has been a b*tch. This ranging / consolidating day just f*cks with the brain. Perfect gentlemen - I see you.

I'll just add to any short position I have at present. Last legs down - then kaboom!

Same side

Regards to you

book give good tip to hold trade hang on with da life

i see on the other side brother!!
  • #298,119
  • Jan 16, 2012 9:57am Jan 16, 2012 9:57am
Quoting _BBKing_
bb thank u for yur comment..i dont deserve it thou bro..this trade is way out of my comfort zone

but thanks regardless
  • #298,120
  • Jan 16, 2012 9:57am Jan 16, 2012 9:57am
I cut my teeth on this thread about 3 years and cannot but help to share some of my views here once in a while. I learnt a lot here and consider it imperative to share views, perhaps some traders could benefit from them.


Successes in forex trading could only be achieved if you have the bigger picture within your purview. To achieve this, it is important to realise that you can only have a ‘helicopter view’ of the market in the higher time frames. The higher time frames provide useful insights into the trading parameters within a given period of time, which could be up to 2-4 years. With this knowledge it becomes easier to proceed to the lower time frames and trade confidently within the established boundary. You definitely cannot compare a trader with 2-4 years view of the market with one who is looking at price reaction within a few hours.

For a better understanding of the picture, I will now discuss, the Monthly Price Action Analysis (MPAA) using GBPUSD monthly to explain the MPAA for the period December 2008 – January 2012.

A closer observation of the monthly chart for GBPUSD below will reveal the following facts:

a) If the cable begins a new year around the lowest point in a yearly circle, the point usually serve as a circle for a bullish run (rise in price)

b) If the cable begins a new year around the highest point in a yearly circle, the point usually serve as a circle for a bearish run (fall in price)
c) Price moves for the first 6 months (Jan-June), consolidates for the next 3 months (July-Sept), and closes for the last 3 months (Oct-Dec)
d) Price generally consolidate around the concrete zones

The question at this point is what is the usefulness of the above analysis in a simple language? The benefit of the MPAA is that the accounting year for the ‘big players’ (banks, hedge funds, investment outfits, etc) starts from January and ends in December. At the beginning of each year, depending on the fundamental factors, the big players push the price to a direction determined by fundamental factors (it doesn’t matter whether it is bull or bear). By the middle of the year, these players used the next three months see whether the bullish/bearish run will continue or not hence the consolidation around this period. These players use the last three months to take their profit and close their books for the year. The big players will never roll over their profit to another year. That is the monthly circle for the Cable.


What then is my view for 2012? I.5300 is proving to be a very strong support on all time frames and most importantly the weekly candle. I expect a consolidation around this area before the next major moves, when all the market movers return by the end of this month/1st week of February. Whichever direction they are going, the weekly candles will tell us. Due to the concern with Euro, the sentiment is down but 1.530 has not been broken since August 2008. If the weekly candle breaks out of this zone and the next candle opens and closes below this level, then we should begin to look for a test of 1.430 which is the next support.


I attach a weekly chart showing consolidation around the master charts levels. This area of weekly consolidation is where I called the concrete zone. The weekly charts can consolidate for up to three months. The consolidation area for now is between 1.5360 and 1.5780 (about 420 pips) and the Masterchart support is 1.530. This area will remain support until firstly, the body of a weekly candle closed outside and secondly a the body of a weekly candle opens and closes outside this level. A weekly pin outside 1.530 is a false breakout.

I attach the monthly for GBPUSD in support of MPAA and the weekly, daily, H4 and even H1 charts to show price reaction within our current 400 pips concrete zone.

I wish you successful trading in 2012.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2012 monthly chart - gbpusd.gif Size: 18 KB
Click to Enlarge Name: 2012 concrete - gbpusd 400 pips.gif Size: 15 KB
Click to Enlarge Name: 2012 concrete - daily gbpusd 400 pips.gif Size: 19 KB
Click to Enlarge Name: 2012 concrete - h4 gbpusd 400 pips.gif Size: 21 KB
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