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Cable Update (GBPUSD)

  • #306,901
  • Apr 9, 2012 12:45am Apr 9, 2012 12:45am
Quoting Ill-b-back
He he nice one bro, I guess I just don't like the guy preaching to us telling us the way we should think when a 300 pip stop hunt is just as likely to put 250pips into the pocket of a trader who knows how to read price action or other chart technicals, it's just too much to listen to.
Its okay bro...sometimes in life we need to listen a while...take it or not...that's up to u right?

In life, we drink the clear water, we threw the dirty water...
for health purposes right?

we all must know, one thing, that, we do BEST when we're calm..., in forex for sure...no matter u doing your charts setup, or fundies interpretation...doesn't matter either one..I do know that when I'm calm, all sorts of ideas came to me...some I never think of...true story
I trade to live
  • #306,902
  • Apr 9, 2012 12:59am Apr 9, 2012 12:59am
Quoting UbuFamily
Its okay bro...sometimes in life we need to listen a while...take it or not...that's up to u right?

In life, we drink the clear water, we threw the dirty water...
for health purposes right?

we all must know, one thing, that, we do BEST when we're calm..., in forex for sure...no matter u doing your charts setup, or fundies interpretation...doesn't matter either one..I do know that when I'm calm, all sorts of ideas came to me...some I never think of...true story
Me too bro, best ideas while on the toilet to be honest.
Come with me if you want to live....
  • #306,903
  • Apr 9, 2012 1:22am Apr 9, 2012 1:22am
Quoting Ill-b-back
Me too bro, best ideas while on the toilet to be honest.
talking about toilet bro...now I really need a toilet after eating some biscuits...Arghhhh...

by the way I see cable consolidating between 5900 and 5850...

look at 4H TF..this is not ordinary zone...surely strong resistant exist...
Attached Image (click to enlarge)
Click to Enlarge Name: huhu.gif Size: 24 KB


also look at year 2010 of sept and oct month of H4...same zone.. u can check it out what fundies happenend at that time...(if u want to)

IMO
I trade to live
  • #306,904
  • Apr 9, 2012 1:48am Apr 9, 2012 1:48am
Quoting UbuFamily
talking about toilet bro...now I really need a toilet after eating some biscuits...Arghhhh...

by the way I see cable consolidating between 5900 and 5850...

look at 4H TF..this is not ordinary zone...surely strong resistant exist...
Attachment

also look at year 2010 of sept and oct month of H4...same zone.. u can check it out what fundies happenend at that time...(if u want to)

IMO
Yeah I know bro it's a tough zone. My shemale bull has firmed but is not a recommended buy signal by any stretch of the imagination. Still holding my hedge. We have overcome strong bearish momentum a few times lately this year so I'm not sold on the idea yet. I just wait for next signal where ever and when ever it comes in.
Come with me if you want to live....
  • #306,905
  • Apr 9, 2012 2:15am Apr 9, 2012 2:15am
Quoting Ill-b-back
Yeah I know bro it's a tough zone. My shemale bull has firmed but is not a recommended buy signal by any stretch of the imagination. Still holding my hedge. We have overcome strong bearish momentum a few times lately this year so I'm not sold on the idea yet. I just wait for next signal where ever and when ever it comes in.
Yea..there's a time when our tech analysis stopped providing convincing call...stop or slow....well that's the time to consider a little bit of fundies...just like putting the toppings of a cheese cake with peanuts...to make it delicious...or make it best selling...fingers licking good as in kfc..

a question particularly for u bro : Is Justin Bieber a shemale?
I trade to live
  • #306,906
  • Apr 9, 2012 2:20am Apr 9, 2012 2:20am
Quoting UbuFamily
Yea..there's a time when our tech analysis stopped providing convincing call...stop or slow....well that's the time to consider a little bit of fundies...just like putting the toppings of a cheese cake with peanuts...to make it delicious...or make it best selling...fingers licking good as in kfc..

a question particularly for u bro : Is Justin Bieber a shemale?
Nah bro, he all man, he just putting the soft front on to get the chicks. As for me, not touch fundies, no signal, no trade, period.
Come with me if you want to live....
  • #306,907
  • Apr 9, 2012 2:26am Apr 9, 2012 2:26am
I just wrote at PT's thread these....

http://www.forexfactory.com/showthre...41#post5552941
I trade to live
  • #306,908
  • Apr 9, 2012 2:30am Apr 9, 2012 2:30am
Quoting Ill-b-back
Nah bro, he all man, he just putting the soft front on to get the chicks. As for me, not touch fundies, no signal, no trade, period.
Hahaha are u his uncle or what?? quite supportive huh?

it's ok to be nothing at everything...I remember someone here saying better to missed a train than to ride the wrong train..

what GMT at your place anyway?
I trade to live
  • #306,909
  • Apr 9, 2012 2:52am Apr 9, 2012 2:52am
Quoting Faller
Read my post above....and stop fakking talking shit here....everyone.

Faller.
  • #306,910
  • Apr 9, 2012 3:06am Apr 9, 2012 3:06am
Quoting UbuFamily
Okay let me be clear in this, I'm not siding anyone in here..u name it..I'm not siding bguguen, faller, BB, A-spec, Ill b back or bones...look above the highlighted sentences, I'm not gonna say I'm totally agree with bguguen...but the sentences above are one of my scope of understanding in forex..do u guys really think NO HANKY PANKY setup happened in forex in purpose?? do u guys really have to believe the ONLY limited results by the fundamentals and technicals?? u guys do really need to think/be as you are one of the big boys or fed or whatever...
You're spot on. All the bickering is daft, no-one trades the same, that's what makes a market. Don't understand why 'fellow traders' think 'fellow traders' will/should help each other out. Why? You're trying to win money off each other. Me personally? Most TA is b0ll0cks. Honestly it is. You can explain your lines till you're blue in the face and sometimes they will tally up, sometimes they won't. The only thing that is certain is we do not know what is going to happen

So what do I do? I have fun on some of the TA threads LOL.

Actual trading is this: You know where statistical extremes approximately are. You know that within a time period price is capable of moving n pips. And you exploit that. Draw a line: trade it: wait: Add if you can. Close after you see enough profit/see price hitting a statistical extreme and showing signs of reversing/hitting the end of your time period.

Me, I like to trade 1 weekly bar. What does that mean? It means I'm looking for an entry at the start of the week and looking to exit before the end of the week. How many pips does cable move on average in a week? How big is the average wick on the weekly bar? How often does it create a wick before making a body in the opposite direction? How big a stop is required (not that big actually)? How many trades per week? Depends on what you call a trade but usually 2 or 3 entries. Quite often one of them being wrong.

So when is the best place and time to enter? The safest imo is at the start of your time period on a breakout, the next safest when price has hit an extreme on the retrace, targ, where the breakout occurred. That's all the market does, breaks out, then moves to eliminate any profit, breakout and retrace, that's all it does. Forget the sideways sh1t, that's where you lose your shirt.


How many lines are on my chart? 1 drawn line and some lines showing prices ending in 00, 50, 25. That's it.

Which way to trade? Which way is price moving right now?

You can't make 50% a week trading like that! No you can't, but then again you can make consistent, compounding returns on your account and also have a life, which you ain't going to do scalping your nuts off and paying your broker most of your 'earnings', if you make any at all trying to predict the market.

Embrace the uncertainty a stop arguing folks FFS. You will never see clearly when you argue. Remeber this: you are both wrong, until the market proves you right.
  • #306,911
  • Apr 9, 2012 3:11am Apr 9, 2012 3:11am
http://i43.tinypic.com/2a9trvr.png

Attached is the 1 hour chart of GBPUSD. As per the chart, you can see that the GBPUSD is forming a triangle pattern. Triangle Pattern is very helpful to know that the pair would follow in a narrow consolidating pattern waiting for a breakout. Breakout is indicated by the red arrows if it breaks the resistance or support area can further determine the trend continuation. If it breaks the lower base of the triangle then it may be begin a downtrend and if the higher tip of the triangle then it may begin an uptrend

In the chart, you can also see 2 more additional lines- 200 Moving Average (purple line) & 100 Moving Average (green line). Currently both the 100 MA & 200 MA is acting as a resistance at the almost same level with the triangle resistance indicating a good resistance level.
  • #306,912
  • Apr 9, 2012 3:26am Apr 9, 2012 3:26am
Yeah, I saw that triangle too. I'm thinking it's going to break south. So I'm currently short GBP/USD. See chart H1

I'm also long EUR/GBP. See chart H1
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPnow.png Size: 43 KB
Click to Enlarge Name: EURGBPnow.png Size: 39 KB
  • #306,913
  • Apr 9, 2012 3:34am Apr 9, 2012 3:34am
See the 4 hour chart to understand the long term trend of GBPUSD, if you are holding for a reasonable number of pips.

On a H4 chart for GBPUSD, you can see that it is an uptrend creating higher lows as you will be able to judge the uptrend by connecting it to know the support level.

H1 chart for GBPUSD, most probably shows downtrend if it stays within the triangle. So its better to compare both 1hr triangle and 4 hr trendline along with Moving Average to get a better confirmation
  • #306,914
  • Apr 9, 2012 3:34am Apr 9, 2012 3:34am
Quoting nunrgguy
You're spot on. All the bickering is daft, no-one trades the same, that's what makes a market. Don't understand why 'fellow traders' think 'fellow traders' will/should help each other out. Why? You're trying to win money off each other. Me personally? Most TA is b0ll0cks. Honestly it is. You can explain your lines till you're blue in the face and sometimes they will tally up, sometimes they won't. The only thing that is certain is we do not know what is going to happen

So what do I do? I have fun on some of the TA threads LOL.

Actual trading...

Errrr....I don't get u actually...are u informing or advising? are u referring to me or the other party i meant? do u know why I posted such comments? did u read 10-20 pages behind?

all good
I trade to live
  • #306,915
  • Apr 9, 2012 3:37am Apr 9, 2012 3:37am
Quoting UbuFamily
Hahaha are u his uncle or what?? quite supportive huh?

it's ok to be nothing at everything...I remember someone here saying better to missed a train than to ride the wrong train..

what GMT at your place anyway?
Sorry about the trade bro. I actually have put on a small buy, but ready to bail at a moments notice. Not sure of GMT? But is 637 pm here.
Come with me if you want to live....
  • #306,916
  • Apr 9, 2012 3:44am Apr 9, 2012 3:44am
Quoting Avinash87
See the 4 hour chart to understand the long term trend of GBPUSD, if you are holding for a reasonable number of pips.

On a H4 chart for GBPUSD, you can see that it is an uptrend creating higher lows as you will be able to judge the uptrend by connecting it to know the support level.

H1 chart for GBPUSD, most probably shows downtrend if it stays within the triangle. So its better to compare both 1hr triangle and 4 hr trendline along with Moving Average to get a better confirmation
since we are in a very low volume market, i don't know how can you get the uptrend in 4h.

imho, in time like this, you have to concentrate on individual candle rather than series of candles but if you still compare the series of candles in 4h, latest series of candles shows that we are making lower high and lower low.. how can you come out with uptrend mate?

what the price is doing currently is retesting the low of the consolidation candles, i don't see uptrend yet.. can you please show us your graph..

thank you.
Attached Image (click to enlarge)
Click to Enlarge Name: cable.gif Size: 44 KB
  • #306,917
  • Apr 9, 2012 3:45am Apr 9, 2012 3:45am
Quoting Ill-b-back
Sorry about the trade bro. I actually have put on a small buy, but ready to bail at a moments notice. Not sure of GMT? But is 637 pm here.

so its GMT+10 at your place then....its alright about the trade...nothing is perfect bro
I trade to live
  • #306,918
  • Apr 9, 2012 4:37am Apr 9, 2012 4:37am
Well we didnt close below 1.5850 we closed exactly AT 1.5850 soo we are still IN consolidation between 1.5900-1.5850 i guess i should call some friends out and chill today since i dont see much movement....
Tuesday be interesting though.... Ben bernanke Talks at the Most illiquid time ever...

Ben Bernanke is talking in asia on Tuesday..... whoopty fucking doooo....

expect serious volatility in asia..... which is shit cuz that means i have to stay up for it...


10 April 2012 Tuesday
12:15am (GMT)USD
Fed Chairman Bernanke Speaks
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #306,919
  • Apr 9, 2012 5:13am Apr 9, 2012 5:13am
Quoting A-speculator
since we are in a very low volume market, i don't know how can you get the uptrend in 4h.

imho, in time like this, you have to concentrate on individual candle rather than series of candles but if you still compare the series of candles in 4h, latest series of candles shows that we are making lower high and lower low.. how can you come out with uptrend mate?

what the price is doing currently is retesting the low of the consolidation candles, i don't see uptrend yet.. can you please show us your graph..

thank you.
Yes indeed I am glad to discuss this, I will attach the chart so that youll be able to understand, note that you can use 4h only if you are holding for a reasonable number of pips.

http://i44.tinypic.com/2cdwpia.png

From the chart you will come to know from 1 month it has been moving in a channel uptrend creating higher highs and higher lows
  • #306,920
  • Apr 9, 2012 5:28am Apr 9, 2012 5:28am
trying to stay back into uptrend channel or .... ?
Attached Image (click to enlarge)
Click to Enlarge Name: pvj413.gif Size: 15 KB
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