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Cable Update (GBPUSD)

  • #306,841
  • Apr 8, 2012 2:25pm Apr 8, 2012 2:25pm
Quoting Bones
lol its my opinion ,thats all ,main point is you dont need,if price is bearsh or bullish can bounce around round lower upper levels for ages ,

Lets start again where do you see price going ?

Thanks but I don't prefer to discuss market dynamics with someone that will make an off the cuff comment about me without actually knowing me as a trader - let it be your opinion that I do not know how to use indicators. We all have our freedom in here - as I have my freedom as well.

Good luck with your group discuss - but if you make comments to everyone else like you did to me.....you will end up discussing your thoughts with yourself.

Happy Easter.

Faller.
I don't trust any move - when you have profit...take it.
  • #306,842
  • Apr 8, 2012 2:31pm Apr 8, 2012 2:31pm
lol ,don't worry ,its why I don't bother in here ,good luck

I never said you cant read it touchy ! show me where ?

you posed the question and I answered it for you .fact is it don't matter where they are half the time

Bye Bye
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #306,843
  • Apr 8, 2012 2:32pm Apr 8, 2012 2:32pm
Here's my humble opinon....GL!
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  • #306,844
  • Apr 8, 2012 3:35pm Apr 8, 2012 3:35pm
Quoting A-speculator
sometimes i always think that fundamental is a distraction to traders this is due to the trader(s) will try to figure out the effect based on his understanding of the market, always limited by his/her knowledge and limited access to pure fundamental data - datas without being manipulated.

anyway, i think i have to go back doing my mad research on astrology, and i think i won't be posting as much..

Until then, see u later mate & wish green pips with you, always.. Always remember your tagline mate, this is not economy 101, this is trading...
Hey Speculator, don't dissapear mate, we seem to have a bit in common, Fundamentals a distraction, you read my mind word for word bro, word for word, I have thought this for a couple of years now, exactly!!! I believe forex rewards those who know how to read charts, fibs, TL's etc. I didn't mean to create an economics class , I just started by refuting the blanket ("rule") that you NEED to understand fundies to trade the 1 or 4 hr TF's and above, because I am living proof that you don't, period, then I just got on a role again. Anyway, that video very well summed up my thoughts and threw in lots of extras I had no idea about, so I will prob post less as I feel something has been lifted from my chest. Markets role on
Come with me if you want to live....
  • #306,845
  • Apr 8, 2012 3:42pm Apr 8, 2012 3:42pm
Quoting Faller
I will pose this question......which move was more powerful - when stochs were oversold (YELLOW CIRCLES) or when stochs were overbought (BLUE CIRCLE)

You need to know how to use an indicator.

Happy Easter....

Faller.
Yes, but honestly bro, even from an objective point of view, you would not expect a strong move heading towards and into such heavy resistance as we have been doing all year. Maybe I'm wrong and am happy to be corrected and learn more as I have never used stochs.
Come with me if you want to live....
  • #306,846
  • Apr 8, 2012 4:08pm Apr 8, 2012 4:08pm
Quoting Ill-b-back
Yes, but honestly bro, even from an objective point of view, you would not expect a strong move heading towards and into such heavy resistance as we have been doing all year. Maybe I'm wrong and am happy to be corrected and learn more as I have never used stochs.

Are you saying that we should not look for a strong move NORTH?
I don't trust any move - when you have profit...take it.
  • #306,847
  • Apr 8, 2012 4:09pm Apr 8, 2012 4:09pm
Quoting Faller
What does that mean? Are you saying that I don't know how to use indicators?

Please clarify before I respond.

Thank you.

Faller.
Bro, I think a misunderstanding here. You said "you need to know how to use an indicator, he said, I don't think you do because indicators are unreliable, not, you don't know how to use them bro, I don't think it was personal, just saying he doesnt think we need to know how to use them cause they can be unreliable that's all. I'm off to the happy traders thread to chill for a while
Come with me if you want to live....
  • #306,848
  • Apr 8, 2012 4:48pm Apr 8, 2012 4:48pm
Quoting Faller
Are you saying that we should not look for a strong move NORTH?
Not sure bro, but thats not what I am getting at. A move into strong resistance is less likely to be strong simply because of the resistance. But, I guess, since you are asking the question, no I don't expect a STRONG move north because of the above mentioned reason, we still have quite a bit of resistance to get through (if) we are heading north.
Come with me if you want to live....
  • #306,849
  • Edited 5:15pm Apr 8, 2012 5:00pm | Edited 5:15pm
Quoting Bones
Is bullish
Mate, just a quick heads up on Yen.

We may take a bounce off this level (EY GY are sitting at support), but my weekly is showing something slightly different than yours.

If this area goes, we could get a much larger correction down.
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  • #306,850
  • Apr 8, 2012 5:07pm Apr 8, 2012 5:07pm
Quoting Ill-b-back
Not sure bro, but thats not what I am getting at. A move into strong resistance is less likely to be strong simply because of the resistance. But, I guess, since you are asking the question, no I don't expect a STRONG move north because of the above mentioned reason, we still have quite a bit of resistance to get through (if) we are heading north.

I am just going to shut up because it seems as though I do not know what people are saying here......I must be really really out of it.....I apologize to everyone.

Faller.
I don't trust any move - when you have profit...take it.
  • #306,851
  • Apr 8, 2012 5:09pm Apr 8, 2012 5:09pm
Quoting Ill-b-back
Not sure bro, but thats not what I am getting at. A move into strong resistance is less likely to be strong simply because of the resistance. But, I guess, since you are asking the question, no I don't expect a STRONG move north because of the above mentioned reason, we still have quite a bit of resistance to get through (if) we are heading north.

That is exactly what I was referring to.....based on just the stochastic indicator......I guess it is just me......but based on just the indicator and only that indicator....and my experience watching that indicator......price will go down.
I don't trust any move - when you have profit...take it.
  • #306,852
  • Apr 8, 2012 5:19pm Apr 8, 2012 5:19pm
90% of traders use TA, indicators and prediction
  • #306,853
  • Apr 8, 2012 5:26pm Apr 8, 2012 5:26pm
Quoting Faller
That is exactly what I was referring to.....based on just the stochastic indicator......I guess it is just me......but based on just the indicator and only that indicator....and my experience watching that indicator......price will go down.
for what i know about stochastic oversold/bought levels are a lot of things.. but surely not areas where price will more probably reverse direction! i used in the past: i saw indi oversold in h1 h4 d1 for 2 weeks. and price simply went down down down. oversold = strong pressure down!
overbought = strong pressure up! so i agree with you

betting in a reverse in price because stochastic is oversold/bought can be a massacre. mostly in higher TF meaning a possible move of more 500pips in that direction. indi can stay there flat for days n days, while price simply tank more or goes more up.
maybe stochastic is good when show a bullish/bearish divergence....

anyway, 'bones' was not saying you don't know how to read indi... you misunderstood!
90% of traders use TA, indicators and prediction
  • #306,854
  • Apr 8, 2012 5:29pm Apr 8, 2012 5:29pm
Quoting Faller
That is exactly what I was referring to.....based on just the stochastic indicator......I guess it is just me......but based on just the indicator and only that indicator....and my experience watching that indicator......price will go down.
He he, just saw BB's post, me too a little. I think we have drifted a little here bro. I came in to clarify a misunderstanding between 2 traders and to say why I thought the bullish moves shown by the stochastic have not been as strong as the strong bearish one you outlined (resistance factor). If this thing does head south to 53 and beyond, all the best to everyone here, Ill jump in again when the time is right (after closing last weeks technical sell trade from 6027), and without the fundamental drawdown. Oh gosh, I've done it again
Come with me if you want to live....
  • #306,855
  • Apr 8, 2012 5:36pm Apr 8, 2012 5:36pm
Quoting _BBKing_
for what i know about stochastic oversold/bought levels are a lot of things.. but surely not areas where price will more probably reverse direction! i used in the past: i saw indi oversold in h1 h4 d1 for 2 weeks. and price simply went down down down. oversold = strong pressure down!
overbought = strong pressure up! so i agree with you

betting in a reverse in price because stochastic is oversold/bought can be a massacre. mostly in higher TF meaning a possible move of more 500pips in that direction. indi can stay there flat for days n days, while...

I don't trust any move - when you have profit...take it.
  • #306,856
  • Apr 8, 2012 5:47pm Apr 8, 2012 5:47pm
Quoting Chillypiper
Here's my humble opinon....GL!
Totally agree, I see decent possibility of a move to 56 area, been watching this area for a while. Will see what happens if we get there
Come with me if you want to live....
  • #306,857
  • Apr 8, 2012 5:53pm Apr 8, 2012 5:53pm
Quoting Ill-b-back
Hey Speculator, don't dissapear mate, we seem to have a bit in common, Fundamentals a distraction, you read my mind word for word bro, word for word, I have thought this for a couple of years now, exactly!!! I believe forex rewards those who know how to read charts, fibs, TL's etc. I didn't mean to create an economics class , I just started by refuting the blanket ("rule") that you NEED to understand fundies to trade the 1 or 4 hr TF's and above, because I am living proof that you don't, period, then I just got on a role again. Anyway,...
You do realise big traders like Warren Buffet and George Soros dont really read charts and yet they make big money right??

As much as technicals are important for retail traders.. you need to realise big traders like central banks, george soros that sort of people dont really look at chart technicals to trade...

they would just go online one day and see oh GBPUSD at 1.6?? hmmmm this is strange UK economy is not better than the US from what the news are reading...
Right im gona short 500 Standard Lots...

Thats how they trade man...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #306,858
  • Apr 8, 2012 5:57pm Apr 8, 2012 5:57pm
Quoting Fudomyo
Mate, just a quick heads up on Yen.

We may take a bounce off this level (EY GY are sitting at support), but my weekly is showing something slightly different than yours.

If this area goes, we could get a much larger correction down.

i expect also some correction/bounce up in xxx/jpy pairs next days before more down.
on friday jpy went very bullish and tanked down uj gj aj ej everything/j
aj printed staight move to crash 84.00
i could be wrong but when things like these happens... price reverse up for a lot of pips ! eheh
90% of traders use TA, indicators and prediction
  • #306,859
  • Apr 8, 2012 5:58pm Apr 8, 2012 5:58pm
Quoting bguguen
You do realise big traders like Warren Buffet and George Soros dont really read charts and yet they make big money right??

As much as technicals are important for retail traders.. you need to realise big traders like central banks, george soros that sort of people dont really look at chart technicals to trade...

they would just go online one day and see oh GBPUSD at 1.6?? hmmmm this is strange UK economy is not better than the US from what the news are reading...
Right im gona short 500 Standard Lots...

Thats how they trade man...
mmm
IMO is bit more complicated than this!
90% of traders use TA, indicators and prediction
  • #306,860
  • Apr 8, 2012 6:05pm Apr 8, 2012 6:05pm
Morning all,

just woke up and i see already green pips from my last week position this early in the morning..

Hope everyone here doing ok..
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