Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

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#312,781
May 11, 2012 9:34am May 11, 2012 9:34am

TauTrader
Joined Jan 2009 | Status: Per Aspera Ad Astra | 6,262 Posts

Quoting Vikingbarde

Disliked

from several different sites, - completion of cycle - before downturn to 58, then 56 by end of may - 54 by june .

I cannot tell this from charts myself ; but from other people who had long term charts - i spent about 6 hrs searching for info, checking, comparing, - trying to analyise if the site supplied reliable info etc.

Without searching for tech, there is no way that i thought it would have its sights on 1.64 and possibly higher. Some day traders - expected it to trade within smaller band, and had taken out lots of trades expecting return...

Ignored

Yip,

35% return PA if you are f*ucking good. That's it. Rest is pure luck.

Regards

#312,782
May 11, 2012 10:02am May 11, 2012 10:02am

TauTrader
Joined Jan 2009 | Status: Per Aspera Ad Astra | 6,262 Posts

Good day to you all,

Very last tip I am sharing. Look at longer timeframe candles. Connect lows or highs of recent 2. When price opens on the other side of the trendline - the low of the previous candle will be reached with extremely high probs.

Below a few examples:

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#312,783
May 11, 2012 10:09am May 11, 2012 10:09am

TauTrader
Joined Jan 2009 | Status: Per Aspera Ad Astra | 6,262 Posts

good day,

more examples...

these are rare, but if happening - you bank cash.

No more from me for now.

Take care of yourselves and your loved ones

warm regards

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#312,784
May 11, 2012 10:12am May 11, 2012 10:12am

tomspin
| Joined Nov 2011 | Status: Trader | 2,927 Posts

Right, I am off for the weekend
Have a great one, Thank You all for hospitality in this thread, before I go I wish to share my little observation, some may find it useful

http://www.forexfactory.com/showthre...18#post5660218

swing it!

#312,785
May 11, 2012 11:46am May 11, 2012 11:46am

Faller
Joined Aug 2010 | Status: Trader | 3,185 Posts

Quoting Vikingbarde

Disliked

5 min chart , - surprisingly going down, - am i reading it right - that the "regular crew" on here is saying "Buy now at 6070 area" ? ( it was meant to tip 6200 - 6300 at end of week (not happenning ) so start or mid next week? - is that what they are saying ?
VB

Ignored

I think I am part of the regular crew here - and I never said to buy at .6070

I did say there is strong support here around that area......but never said to buy or sell......here is my post...

http://www.forexfactory.com/showthre...99#post5659099

Faller.

I don't trust any move - when you have profit...take it.

#312,786
May 11, 2012 12:26pm May 11, 2012 12:26pm

Ill-b-back
Joined May 2011 | Status: Get to the Chopper | 17,905 Posts

Long weekend for NY

, happy to have slept thru it.

Come with me if you want to live....

#312,787
May 11, 2012 12:34pm May 11, 2012 12:34pm

Ill-b-back
Joined May 2011 | Status: Get to the Chopper | 17,905 Posts

Quoting Ill-b-back

Disliked

I am currently watching this area of fib/support/TL confluence to see if something happens there

Ignored

Damn bro!!, just now look where we are, shoot

Come with me if you want to live....

#312,788
May 11, 2012 2:08pm May 11, 2012 2:08pm

Faller
Joined Aug 2010 | Status: Trader | 3,185 Posts

Quoting Ill-b-back

Disliked

Damn bro!!, just now look where we are, shoot

Ignored

I will pat you on the back.....you don't have to do what I do.....I pat myself on the back enough!!!!

You see charts well my friend......

Good weekend to you...

Faller.

I don't trust any move - when you have profit...take it.

#312,789
May 11, 2012 2:26pm May 11, 2012 2:26pm

Ill-b-back
Joined May 2011 | Status: Get to the Chopper | 17,905 Posts

Quoting Faller

Disliked

I will pat you on the back.....you don't have to do what I do.....I pat myself on the back enough!!!! You see charts well my friend......

Good weekend to you...

Faller.

Ignored

cheers bro, glad you can have a laugh brother. I had 1 good day and just going along for the ride

.
Have a good weekend Faller, and glad you got your weekly profits. You are the one who reads charts consistently well, I'm only just starting to put in an effort. Take care

Come with me if you want to live....

#312,790
May 11, 2012 3:26pm May 11, 2012 3:26pm

fxtyrant
Joined Jan 2010 | Status: Trader | 10,268 Posts

Quoting Faller

Disliked

I think I am part of the regular crew here - and I never said to buy at .6070

I did say there is strong support here around that area......but never said to buy or sell......here is my post...

http://www.forexfactory.com/showthre...99#post5659099

Faller.

Ignored

Surprisingly me being a part of the Regular Crew here.... i did recommend short on pull backs.....
people longing at the bottom should blame themselves for their mistakes...

Quoting bguguen

Disliked

Best time for Bulls to think about Shorting on pullback rathern than trying to catch the bottom...

Ignored

We live in a finite world with infinite possibilities.

FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%

#312,791
May 11, 2012 3:38pm May 11, 2012 3:38pm

nAVIN2007
Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts

Quoting bguguen

Disliked

my system is developed fine, as long as the rally has a retracement GBPNZD did retrace, unfortunately it missed the retracement by 10 pips before the shot up reason why i suffered....

But look mate... GBPCAD... what did i say?? all of a sudden im safe...

Ignored

yes it worked out ..and am so happy that it did for u..its one of those trades falling knife..when it works it brillant..gbp strength i havent looked at but it appears to be giving way..

welldone on hanging in there

#312,792
May 11, 2012 9:42pm May 11, 2012 9:42pm

Zircon
Joined Apr 2011 | Status: Free Palestine.. | 1,567 Posts

Will be fine for u next soon.

If skills could be acquired by watching, every dog would be a butcher. Turk

#312,793
May 11, 2012 9:55pm May 11, 2012 9:55pm

fxtyrant
Joined Jan 2010 | Status: Trader | 10,268 Posts

Quoting nAVIN2007

Disliked

yes it worked out ..and am so happy that it did for u..its one of those trades falling knife..when it works it brillant..gbp strength i havent looked at but it appears to be giving way..

welldone on hanging in there

Ignored

Thx nav, reason this time i did t panic out like i did on gbpnzd is because the bot was hasnt opened its largest lot while the gbpnzd situation was that the bot opened the set largest lotsize and notmally this means high probability on reversal and gbpnzd just kept going up and theres nothing the bot could do about it....
Gbpcad though was not at that stage, i didnt panic in fact all i did was to see what tech guys think about that pair, besides ive posted couple pages back that gbpcad is a pair that looks pretty much in range between 2 fib area, the 50% and the 23.6% , that normally suggests that the pair found equilibrium staying there afterall its a weekly chart... Soooo tech traders can benefit most on gbpcad shorting top of the range and longing bottom of range in this pair... Thts if you have good spreads on it

Im sad to see how faller being so defensive against the idea of me shorting gbpcad.... Think he still got me on ignore

We live in a finite world with infinite possibilities.

FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%

#312,794
May 11, 2012 9:58pm May 11, 2012 9:58pm

fxtyrant
Joined Jan 2010 | Status: Trader | 10,268 Posts

Quoting Ill-b-back

Disliked

Damn bro!!, just now look where we are, shoot

Ignored

After todays move im confident we might see 1.58 soon but then again i'll need to see how market opens next week...

We live in a finite world with infinite possibilities.

FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%

#312,795
May 12, 2012 12:18am May 12, 2012 12:18am

Ill-b-back
Joined May 2011 | Status: Get to the Chopper | 17,905 Posts

Quoting bguguen

Disliked

After todays move im confident we might see 1.58 soon but then again i'll need to see how market opens next week...

Ignored

Yeah, complete lack of NY reaction tells me could go much lower. Articulate and his crew also see 58 so I'll be watching that level along with
60 and 5975ish. Enjoy the weekend everyone.

Come with me if you want to live....

#312,796
May 12, 2012 1:02am May 12, 2012 1:02am

TauTrader
Joined Jan 2009 | Status: Per Aspera Ad Astra | 6,262 Posts

Good day to you,

Herewith a more detailed breakdown of the recent cycles observed. It would not be too far fetched to assume that a new medium and longterm cycle is about to start in the next few days.

the question that needs to be answered is this - will it be bullish, bearish or neutral? This can only be judged on evidence presented by the market as we progress..

But - should a new cycle be starting, we understand that there will be 4 major trading opportunities.. 2 long and 2 short. Obviously - if bullish undelying tone - one would rather take the longs and leave the short trades. If Bearish undertone - one would rather look for the short trades and leave the longs.

1st trade would be long. So will be looking at the medium cycle - basically 2 months in length. Period wise thus mid May to Mid July this year. Will therefor be looking for evidence over the next few days for long opportunity first - this will be done from lower timeframe charts ( just the way I trade). Scalps.

This is no grail, nor is this an easy fix - cycles change all the time. It sometimes just gives one a bit of structure to work with.

Regards

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#312,797
May 12, 2012 2:15am May 12, 2012 2:15am

Flatfish
| Joined Feb 2011 | Status: Out of touch with technology | 425 Posts

Very small range for cable last week. From a positioning point of view retailers were happy to buy near 1.62 are are continuing to be more bullish on cable. On its crosses the pound is starting to look like it has topped, so shorting rallies on those may net more pips than with cable itself. Have a feeling that ranges are going to continue small as volume in fx is definitly down and summer doldrums will soon be upon us. My plan is to short rallies looking for 40 pips on cable and 70pip on pound crosses. Small stops 20-40 pips and hopfully catch a flier or two.

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