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Cable Update (GBPUSD)

  • #305,601
  • Mar 30, 2012 9:05am Mar 30, 2012 9:05am
Quoting smikester
I'll let you do the proof. It dawned on me when I read Fudomyo's post. Don't worry, I won't waste any time on you.
Mate, the 1100 thing is quite hard to believe. My outlook is, I don't have the energy to argue silly stuff. People here either are smart enough to know what's probable or not, and if they aren't, then so be it.

I remember when WB and I had a run in with this holy grail guy who (supposedly) drew down the flash crash on multiple pairs for 1000 pips each...

Guess what? People were bending over backwards to believe his 100% win ratio was true because he was telling them exactly what they wanted to hear.

So it doesn't matter what anyone says, people who put hope before logic are not going to listen.

Back to trading.
  • #305,602
  • Mar 30, 2012 9:09am Mar 30, 2012 9:09am
Quoting Fudomyo

I remember when WB and I had a run in with this holy grail guy who (supposedly) drew down the flash crash on multiple pairs for 1000 pips each...
Funny as feck tho you gotta admit bro
Thank You
  • #305,603
  • Mar 30, 2012 9:12am Mar 30, 2012 9:12am
Quoting Fudomyo
Anything is possible, but a couple of things to keep in mind. History doesn't always repeat itself. The Asian debt crisis had a lot to do with the spike up to 1.700 Kumo flat top in 97. (and if Yen goes to 120 by November, then the ripple effect could be far more devastating than it was 10 years ago)

I have 1.73 area as an outside target as well, besides the Kumo top sitting there. Here's an older GU technical chart.

A lot can happen between now and then. Step by step.

Thanks for the headsup,I had no clue about that.

I try to keep it simple and only trade what I see and not using much the fundies anymore as I don't trust them.

One EZ guy farts at the end of the world in a summit and the price goes nuts only to resume it's technicall direction moments later.

Or as it happened with Moody's when one guy said it will downgrade UK and half an hour later after the 100 pips tank another Moody's agent came on stage and said it was not the official point of view and price went back again.

So,if I see a formation I take it.

About the history I always kept in mind that it is cyclic as this is the main reason we use S and R.I will stick to it still as experience shows me that 99% of this kind of countertrend trades are touching the levels I mentioned.

No matter the TFS.If it works on M5 it works on Weekly as well.

On the charts I posted on the 27th (If I recall) all of the trades touched the designated areas.

I base my trades on this only and no other complicated things.

but as you say step by step.

on the same date bbmac asked me why I see a good R @ 1.6040 area and I gave some charts and detaild explanation as 1.6027-1.6046 is a good Short area.

now I will load long again @ 1.5950-1.5955 area when we go there and target 1.6160 as 61.8% on weekly

It does not mean I will hold it if price does nasty tricks as I will close partially on the way up and trail the SL with the KS line or smaller TFS clouds.

have a nice weekend and thanks for the chart
  • #305,604
  • Mar 30, 2012 9:12am Mar 30, 2012 9:12am
Why is the cable going up?? "Big Boys" playing with the cross again??

Down, I say, down!!!
Make your losses in demo. Earn your profits live.
  • #305,605
  • Mar 30, 2012 9:14am Mar 30, 2012 9:14am
yea ... now it shoots straight back up.

Good luck with this pair. Going back to yoorow where it's safe & quiet.
Thank You
  • #305,606
  • Mar 30, 2012 9:15am Mar 30, 2012 9:15am
http://i44.tinypic.com/qn5kjr.png

Technically, GBPUSD has been going in an uptrend although earlier it breached 1.6 levels but still it remains within the channel bouncing from the resistance level of the channel.
  • #305,607
  • Mar 30, 2012 9:20am Mar 30, 2012 9:20am
Quoting Avinash87

Technically, GBPUSD has been going in an uptrend although earlier it breached 1.6 levels but still it remains within the channel bouncing from the resistance level of the channel.
As long as it goes down first for me to take my pips. Once I am fed with my pips, it can bounce all it wants to.
Make your losses in demo. Earn your profits live.
  • #305,608
  • Edited 3:20pm Mar 30, 2012 9:21am | Edited 3:20pm
Quoting wormboy
Funny as feck tho you gotta admit bro
man, that one still cracks me up.

anyway for today, the 6120 TL seems like a long shot. I've got my eye on the minor descending Daily TL at MR1 or the wedge top at WR3. Daily ATR is smack between them.


Quoting wormboy
yea ... now it shoots straight back up.

Good luck with this pair. Going back to yoorow where it's safe & quiet.
what you talking bout? GU is great on the 30S today. lol
  • #305,609
  • Mar 30, 2012 9:28am Mar 30, 2012 9:28am
Quoting Fudomyo

what you talking bout? GU is great on the 30S today. lol
Man if I want a cardio workout I'd go run up the hill or something, 30s will likely gimme a heart attack
Thank You
  • #305,610
  • Mar 30, 2012 9:31am Mar 30, 2012 9:31am
so quiet for a friday and end of month. Was expecting a big run or sell off today. Hopefully, run up, but I think exhausted.
  • #305,611
  • Mar 30, 2012 9:34am Mar 30, 2012 9:34am
Quoting Forexia
As long as it goes down first for me to take my pips. Once I am fed with my pips, it can bounce all it wants to.
If you have a short position and if it bounces from the resistance for a couple of pips then it would be great as it is not broken for the upside yet.
  • #305,612
  • Mar 30, 2012 9:35am Mar 30, 2012 9:35am
Quoting FXConveyor
so quiet for a friday and end of month. Was expecting a big run or sell off today. Hopefully, run up, but I think exhausted.
hello,
quiet day?!?! i think you are kidding!!!
gosh, let me know when you think will happen a nervous day, so i will surely take a day off!!!

jokes apart, yes i also expected to see a shuttle taking out near 6080 today in GU or a tank to 5930. but day not ended yet.... let's see!
90% of traders use TA, indicators and prediction
  • #305,613
  • Mar 30, 2012 9:36am Mar 30, 2012 9:36am
Quoting Forexia
As long as it goes down first for me to take my pips. Once I am fed with my pips, it can bounce all it wants to.
Don't worry, it will down forst before continuing bullish trend....but don't take pips green too much, becaue i worry it bounce to the track as soon as it touch one of nearest fibo.....i don't know maybe 38.2, 50 or 61.8....just beware ....
  • #305,614
  • Mar 30, 2012 9:38am Mar 30, 2012 9:38am
Quoting Fudomyo
man, that one still cracks me up.

anyway for today, the 6120 TL seems like a long shot. I've got my eye on the minor descending Daily TL at MR1 or the wedge top at WR3. Daily ATR is smack between them.




what you talking bout? GU is great on the 30S today. lol
here are some old posts where I was showing same stuff I show now and same type of calculation and where I say about the GU drop 600 pips first then another 600.
I also saw the drop in EU as well from 1.50-1.51 for 1000 pips....so there was not only one trader seeing that.If I look hard enough in those posts I might even find the charts

http://www.forexfactory.com/showthre...56#post4618656

http://www.forexfactory.com/showthre...59#post4612959

on this particular page there is one trader that plans to hold positions for months

http://www.forexfactory.com/showthre...49#post4599349

http://www.forexfactory.com/showthre...71#post4599271

http://www.forexfactory.com/showthre...12#post4599212


there are a lot more posts like this one with the time span and levels.

this is why I said I stick to what I know and what worked in the past
  • #305,615
  • Mar 30, 2012 9:41am Mar 30, 2012 9:41am
Quoting _BBKing_
hello,
quiet day?!?! i think you are kidding!!!
gosh, let me know when you think will happen a nervous day, so i will surely take a day off!!!

jokes apart, yes i also expected to see a shuttle taking out near 6080 today in GU or a tank to 5930. but day not ended yet.... let's see!
You have same two zones as me for short or long entry. Let's see..............
  • #305,616
  • Mar 30, 2012 9:42am Mar 30, 2012 9:42am
Quoting FXConveyor
so quiet for a friday and end of month. Was expecting a big run or sell off today. Hopefully, run up, but I think exhausted.
Yes, I agree its a quite a bit slow for the cable...It has lost its steam after breaking 1.6 and then bouncing back...Not much of a movement there just less than 70 pips...Since it is below 1.6000 psychological levels... the movement is expected towards a downside testing the intra day support approx at 1.5970
  • #305,617
  • Mar 30, 2012 9:44am Mar 30, 2012 9:44am
what ???????? quite

Quoting FXConveyor
so quiet for a friday and end of month. Was expecting a big run or sell off today. Hopefully, run up, but I think exhausted.
not euphoria follower
  • #305,618
  • Mar 30, 2012 9:45am Mar 30, 2012 9:45am
Quoting _BBKing_
hello,
quiet day?!?! i think you are kidding!!!
gosh, let me know when you think will happen a nervous day, so i will surely take a day off!!!

jokes apart, yes i also expected to see a shuttle taking out near 6080 today in GU or a tank to 5930. but day not ended yet.... let's see!
hallo BB, do u take a position already?.....
Just like usual friday always crazy day, everybody play for weekend...may be many speculation out there, that's why it's difficult to predict the movement....
  • #305,619
  • Mar 30, 2012 9:48am Mar 30, 2012 9:48am
finally found it

http://www.forexfactory.com/showthre...45#post4545545

for the ones interested enjoy
  • #305,620
  • Mar 30, 2012 9:53am Mar 30, 2012 9:53am
Quoting Red Alert
hallo BB, do u take a position already?.....
Just like usual friday always crazy day, everybody play for weekend...may be many speculation out there, that's why it's difficult to predict the movement....
hello,
no today i closed some position then got some scalps in jpy crosspairs
not good to think about a direction in the last day of W/M/Q....
just my idea!
for what i see eerything is bouncing up-down like crazy and when you think price got a direction, the immediate second later that price will reverse.
indeed i'm leaving charts, i see numbers everywhere.
also my cat is a number ehehhehe
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