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Cable Update (GBPUSD)

  • #305,781
  • Apr 2, 2012 2:51pm Apr 2, 2012 2:51pm
Quoting Ill-b-back
To me, these areas represent sustained buying pressure against the trend.
I don't see such long bullish moves on the GU chart at turning points anywhere else.
I personally think we are just at the start of a bull run, its just my feel of the charts. To me, they act as a platform from what I can see, momentum has been shifting for quite some time.
Let's see.

Nice to read all the comments from today - as posted earlier my trades were made early and I took the rest of the day off - Took a 2 hour drive to the beach to check out a cottage that we want to rent for the summer - beauty day here - just got back to see how oil just kept grinding up all day - currencies are interesting....big consolidation on Cable since March 30 - it will move at some point.....until then watching....waiting....keeping the powder dry.

Hope everyone had a successful trading day.

Cheers,

Faller
I don't trust any move - when you have profit...take it.
  • #305,782
  • Apr 2, 2012 2:57pm Apr 2, 2012 2:57pm
Quoting Faller
Nice to read all the comments from today - as posted earlier my trades were made early and I took the rest of the day off - Took a 2 hour drive to the beach to check out a cottage that we want to rent for the summer - beauty day here - just got back to see how oil just kept grinding up all day - currencies are interesting....big consolidation on Cable since March 30 - it will move at some point.....until then watching....waiting....keeping the powder dry.

Hope everyone had a successful trading day.

Cheers,

Faller
Good on you bro off to work for me now.
Come with me if you want to live....
  • #305,783
  • Apr 2, 2012 3:24pm Apr 2, 2012 3:24pm
Quoting Faller
lets go easy....it is just the beginning of the week.....let's be nice to everyone.....at least on Monday!

he is right thou..was a stupid idea if i ever had one..oh well!!

shit happens
  • #305,784
  • Apr 2, 2012 3:36pm Apr 2, 2012 3:36pm
Quoting nAVIN2007
he is right thou..was a stupid idea if i ever had one..oh well!!

shit happens
If you give up now bro, I will never speak to you again, I've been buying the pound just for you since 5230, don't let me down nAV. Seriously though, what suggests you won't make it? Personally I think it is a good exercise to improve your trading toughness as you said earlier, make you mechanical like me
Come with me if you want to live....
  • #305,785
  • Apr 2, 2012 3:37pm Apr 2, 2012 3:37pm
Quoting Ill-b-back
To me, these areas represent sustained buying pressure against the trend.
I don't see such long bullish moves on the GU chart at turning points anywhere else.
I personally think we are just at the start of a bull run, its just my feel of the charts. To me, they act as a platform from what I can see, momentum has been shifting for quite some time.
Let's see.
If we are talking consolidation, look
Below on the daily, THAT'S consolidation.
Come with me if you want to live....
  • #305,786
  • Apr 2, 2012 3:43pm Apr 2, 2012 3:43pm
Quoting Ill-b-back
If you give up now bro, I will never speak to you again, I've been buying the pound just for you since 5230, don't let me down nAV. Seriously though, what suggests you won't make it? Personally I think it is a good exercise to improve your trading toughness as you said earlier, make you mechanical like me

i aint giving up.. the idea of a hedge thou..did cross my mind, only problem is im a strong bull..i simply cant sell
Im in..and stayin this way

there no going back on it..it was a stupid entry
Attached Image
  • #305,787
  • Apr 2, 2012 3:57pm Apr 2, 2012 3:57pm
Quoting nAVIN2007
i aint giving up.. the idea of a hedge thou..did cross my mind, only problem is im a strong bull..i simply cant sell
Im in..and stayin this way

there no going back on it..it was a stupid entry
, yeah, you never know where new TL's will form against us. Anyway, PA looks good.
Come with me if you want to live....
  • #305,788
  • Apr 2, 2012 4:21pm Apr 2, 2012 4:21pm
It was a good entry point.
All the respect to the long term traders.
If skills could be acquired by watching, every dog would be a butcher. Turk
  • #305,789
  • Apr 2, 2012 4:29pm Apr 2, 2012 4:29pm
quick question,who has knowledge im shorting gbp/aud, and on different account shorting NZD/usd So if one follows another also gonna be going same direction or other way around?As i dont want one acount going up other down.
  • #305,790
  • Apr 2, 2012 4:33pm Apr 2, 2012 4:33pm
Quoting nAVIN2007
i aint giving up.. the idea of a hedge thou..did cross my mind, only problem is im a strong bull..i simply cant sell
Im in..and stayin this way

there no going back on it..it was a stupid entry
Hard to pick a good entry on a 16 month chart bro
Come with me if you want to live....
  • #305,791
  • Apr 2, 2012 4:46pm Apr 2, 2012 4:46pm
Yes but .

when the trend line took less than one month, it's saying something. just 0.5 cent

any way all the best for all.
If skills could be acquired by watching, every dog would be a butcher. Turk
  • #305,792
  • Apr 2, 2012 4:49pm Apr 2, 2012 4:49pm
Quoting Zircon
Yes but .

when the trend line took less than one month, it's saying something. just 0.5 cent

any way all the best for all.
Took less than one month what? Can you explain further?
Come with me if you want to live....
  • #305,793
  • Apr 2, 2012 5:10pm Apr 2, 2012 5:10pm
sorry,


When u trade WTF trend , this one to be strong it should take more than one month.
IF U switch in weekly u will see three unit bull, it represent the correction of the last trend,guess it is downtrend .

time/price=market is always has the answer.

0.1 cent ( u know way when u see it is enough u should take ur profit u will beat this market)
If skills could be acquired by watching, every dog would be a butcher. Turk
  • #305,794
  • Apr 2, 2012 5:17pm Apr 2, 2012 5:17pm
Quoting Zircon
sorry,


When u trade WTF trend , this one to be strong it should take more than one month.
IF U switch in weekly u will see three unit bull, it represent the correction of the last trend,guess it is downtrend .

time/price=market is always has the answer.

0.1 cent ( u know way when u see it is enough u should take ur profit u will beat this market)
Are you talking about the rise from 5230? If so, I completely agree, it has been aggressive and impressive. I see this as the 3rd bullish wave count since the GFC bottom. Sorry, language barrier makes it hard to understand.
Come with me if you want to live....
  • #305,795
  • Apr 2, 2012 5:58pm Apr 2, 2012 5:58pm
  •  eggs
  • | Joined Nov 2011 | Status: Everybodys A Central Banker Here... | 819 Posts
The 4HR look at the most recent move up from March 12 to current reveals an interesting FIBonacci anomaly. I've placed FIBS (one at the origin of the move & one further up). Both have played out with precise accuracy.

The First Fib seems to have run its course to the 261.8 expansion. Fib #2 projects price further to .6150 a major support/resistance level in the recent past.

I've also included two DAILY fib retrace & projections. Interestingly enough ALL FIB projections seem to line up around the same area within a gnats ass of each other.

....probably just a coincidence.
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  • #305,796
  • Apr 2, 2012 6:30pm Apr 2, 2012 6:30pm
Quoting eggs
The 4HR look at the most recent move up from March 12 to current reveals an interesting FIBonacci anomaly. I've placed FIBS (one at the origin of the move & one further up). Both have played out with precise accuracy.

The First Fib seems to have run its course to the 261.8 expansion. Fib #2 projects price further to .6150 a major support/resistance level in the recent past.

I've also included two DAILY fib retrace & projections. Interestingly enough ALL FIB projections seem to line up around the same area within a gnats ass of each...
a gnats ass, I love it Not a coincidence at all, this is a regular pattern with the GU, makes it a great pair to trade in my book.
Come with me if you want to live....
  • #305,797
  • Apr 2, 2012 6:40pm Apr 2, 2012 6:40pm
Quoting Ill-b-back
Hard to pick a good entry on a 16 month chart bro

It is actually a challenge to pick a good entry on any time frame...that is the difference between a good trader and a not so good trader......I would say that you have more lee way on a 16 month chart as your stops will be much much much large then and entry on a 5 min chart.
I don't trust any move - when you have profit...take it.
  • #305,798
  • Apr 2, 2012 6:44pm Apr 2, 2012 6:44pm
  •  eggs
  • | Joined Nov 2011 | Status: Everybodys A Central Banker Here... | 819 Posts
Quoting Ill-b-back
a gnats ass, I love it Not a coincidence at all, this is a regular pattern with the GU, makes it a great pair to trade in my book.

LOL. I know man. You can take the boy out of the South but you kaint take the South out of the boy.

Interesting comment though. I'm a one pair kinda guy & I've just recently shifted my focus off the EU and have been trading the GU ever since. My trading has improved. And I have to say as a pure FIB & Pivots trader this appears to be why.

In your most humble & professional ForexFactory opinion.. Would you say this pair behaves like this more than most majors? I would be interested to hear your take on this one. Thanks Ill-b-back.
  • #305,799
  • Apr 2, 2012 6:55pm Apr 2, 2012 6:55pm
Quoting Faller
It is actually a challenge to pick a good entry on any time frame...that is the difference between a good trader and a not so good trader......I would say that you have more lee way on a 16 month chart as your stops will be much much much large then and entry on a 5 min chart.
It was half in jest as shown by my , my broad point was that an ideal entry on a 16 month chart leads a lot to interpretation because as you said, you have more lee way and larger SL so to pick an entry with a small SL is harder as a 16 month chart makes it hard to see where price is likely to go in the future, since we are playing with a very high timeframe and new TL's can form against our position. So it seems your own response supported my statement.
Come with me if you want to live....
  • #305,800
  • Apr 2, 2012 7:08pm Apr 2, 2012 7:08pm
Quoting eggs
LOL. I know man. You can take the boy out of the South but you kaint take the South out of the boy.

Interesting comment though. I'm a one pair kinda guy & I've just recently shifted my focus off the EU and have been trading the GU ever since. My trading has improved. And I have to say as a pure FIB & Pivots trader this appears to be why.

In your most humble & professional ForexFactory opinion.. Would you say this pair behaves like this more than most majors? I would be interested to hear your take on this one. Thanks Ill-b-back....
Humble and professional, I am not professional and depending on how my trading is going, I may not be humble either. BUT, personally from my own observation, no pair obeys fibs like the GU, that's just my view, and I have noted your bullish and bearish fibs confluence many, many times. They are not strictly part of my system but they occur non the less.
Come with me if you want to live....
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