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Cable Update (GBPUSD)

  • #313,661
  • May 17, 2012 10:45pm May 17, 2012 10:45pm
  •  eggs
  • | Joined Nov 2011 | Status: Everybodys A Central Banker Here... | 819 Posts
Quoting Ill-b-back
Looking at historical candle sticks around this area in the past on your chart, i see low stress bars. We may not get a significant retrace until the 61.8 fib where there are some candle closes back in Dec and more recently also.
Agreed. The market generally rolls within weekly cycles. A final drop to the 61.8 FIB tomorrow @ 5640 or so would be a nice touchdown & finish for the week. Setting up next week for a corrective grind back up.

BTW. I just noticed your new thread. I'll be sure to drop in & check it out from time to time.
  • #313,662
  • May 17, 2012 10:54pm May 17, 2012 10:54pm
okay guys see u during UK and Us sessions....right now i think it is in range...
I am a hunter...i kill both bulls and bears...
  • #313,663
  • May 17, 2012 10:57pm May 17, 2012 10:57pm
Quoting oathbreaker
okay guys see u during UK and Us sessions....right now i think it is in range...
so, what we expect ??
i wanna see another bear slide down the hill btw
  • #313,664
  • May 17, 2012 11:06pm May 17, 2012 11:06pm
  •  eggs
  • | Joined Nov 2011 | Status: Everybodys A Central Banker Here... | 819 Posts
Quoting jajano
so, what we expect ??
i wanna see another bear slide down the hill btw
I find it best NOT to trade what we expect
  • #313,665
  • May 17, 2012 11:06pm May 17, 2012 11:06pm
Quoting jajano
so, what we expect ??
i wanna see another bear slide down the hill btw
bearish...bearish...bearish....
I am a hunter...i kill both bulls and bears...
  • #313,666
  • May 17, 2012 11:08pm May 17, 2012 11:08pm
Quoting eggs
Agreed. The market generally rolls within weekly cycles. A final drop to the 61.8 FIB tomorrow @ 5640 or so would be a nice touchdown & finish for the week. Setting up next week for a corrective grind back up.

BTW. I just noticed your new thread. I'll be sure to drop in & check it out from time to time.
Hey eggs how's things? Yeah drop in anytime, I enjoy my own company in there, but nice to speak with others like yourself anytime
Come with me if you want to live....
  • #313,667
  • May 17, 2012 11:19pm May 17, 2012 11:19pm
  •  eggs
  • | Joined Nov 2011 | Status: Everybodys A Central Banker Here... | 819 Posts
Quoting Ill-b-back
Hey eggs how's things? Yeah drop in anytime, I enjoy my own company in there, but nice to speak with others like yourself anytime

Things are good brother, never better. I do appreciate you asking. Good to talk to you too. I'll be happy to offer constructive criticism anytime homey. Good luck out there tomorrow. Don't get caught with your pants down.
  • #313,668
  • May 17, 2012 11:45pm May 17, 2012 11:45pm
Quoting eggs
Things are good brother, never better. I do appreciate you asking. Good to talk to you too. I'll be happy to offer constructive criticism anytime homey. Good luck out there tomorrow. Don't get caught with your pants down.
Thx eggs. BTW, when I said I enjoy my own company there, I just meant that's the current state so making the most of it. All constructive input from nice chaps like yourself are welcome/encouraged. I've decided to learn this PA trading thing as my other system has been getting boring lately, so if you have any PA skills or others, please chip in. Cheers mate
Come with me if you want to live....
  • #313,669
  • May 17, 2012 11:53pm May 17, 2012 11:53pm
oooshh

http://www.mt4i.com/connect/connect.aspx#sentiment

currently 92% of people are losing and only 8% are winning
  • #313,670
  • May 18, 2012 12:06am May 18, 2012 12:06am
  •  eggs
  • | Joined Nov 2011 | Status: Everybodys A Central Banker Here... | 819 Posts
Quoting Ill-b-back
Thx eggs. BTW, when I said I enjoy my own company there, I just meant that's the current state so making the most of it. All constructive input from nice chaps like yourself are welcome/encouraged. I've decided to learn this PA trading thing as my other system has been getting boring lately, so if you have any PA skills or others, please chip in. Cheers mate
All successful traders will eventually come to this realization. For some, they will spend years & tons of $$ in search of a winning system. Fact of the matter is... there is no winning system. If one cannot read the ONLY indicator on the screen that matters, PRICE, then his chances of success are all but over.

But you. IBB. You seem to be rooted. I hear you talk about your "system" a lot, but have never taken the time to inquire. I encourage your decision to follow the path of a PURE Price Action trader. It really is the only way.

There are a few folks on the thread here that really know their stuff. I haven't taken the time to speak with BONES but since you've been around a while here I'm sure you've become acquainted.

I just mention BONES because his analysis is always spot on dude. The guy is a real savant when it comes to reading a naked chart. He's also good about posting his charts for everyone to see. Just take a look at his post just this week. The guy has to have racked up 500-1000 pips easy.

Don't get me wrong. There are others here with skilz. But in terms of pure Price Action. I tend to take special note when the guy posts.
  • #313,671
  • May 18, 2012 12:09am May 18, 2012 12:09am
Gbp-Jpy started moving and Gbp-Usd also starting...

Get onboard..lets ride the wave....

happy pippin...doubled my account in 5 days...
I am a hunter...i kill both bulls and bears...
  • #313,672
  • May 18, 2012 12:16am May 18, 2012 12:16am
Quoting eggs
I find it best NOT to trade what we expect
yup.. thx to remind me...
i also trade on what i see, not what i think
  • #313,673
  • May 18, 2012 12:24am May 18, 2012 12:24am
Hey guys...

It is already 50 pips below the open of the daily candle...no retracement...its moving fast...get on board...with your hindsight..i can't take any more trades because i am in office..

look both Gbp-Jpy and Gbp-Usd both are moving very fast....

Happy pippin...
I am a hunter...i kill both bulls and bears...
  • #313,674
  • May 18, 2012 12:26am May 18, 2012 12:26am
  •  eggs
  • | Joined Nov 2011 | Status: Everybodys A Central Banker Here... | 819 Posts
Quoting jajano
yup.. thx to remind me...
i also trade on what i see, not what i think
No problem jajano. I often have to remind myself.
  • #313,675
  • May 18, 2012 12:34am May 18, 2012 12:34am
If you have a look @ EUR/USD, you can see it's coming very close to testing the 2012 January low. If we get a tag here around 1.2618 & find more bids the USDOLLAR may drop across the board.
  • #313,676
  • May 18, 2012 12:43am May 18, 2012 12:43am
  •  eggs
  • | Joined Nov 2011 | Status: Everybodys A Central Banker Here... | 819 Posts
Quoting RBlackburn
If you have a look @ EUR/USD, you can see it's coming very close to testing the 2012 January low. If we get a tag here around 1.2618 & find more bids the USDOLLAR may drop across the board.

Yup. Swissy also approaching January Highs. Gotta see some reaction. Question is. Today or next week?
  • #313,677
  • May 18, 2012 12:46am May 18, 2012 12:46am
Quoting RBlackburn
I'm seeing a bit of resistance @ a 50% FIB - 1.57670. Daily RSI bouncing off 30 & Stochs way oversold. May get a small pullback today or i'll have to close my long
woo... that's brave mate.. don't count on when the retracement would happen.. atm, if the retracement does happen, we will seek the end of the move to go short again, just selling strength.. you might blow your account you know, if you try to predict the bottom..
  • #313,678
  • May 18, 2012 12:47am May 18, 2012 12:47am
Quoting eggs
All successful traders will eventually come to this realization. For some, they will spend years & tons of $$ in search of a winning system. Fact of the matter is... there is no winning system. If one cannot read the ONLY indicator on the screen that matters, PRICE, then his chances of success are all but over.

But you. IBB. You seem to be rooted. I hear you talk about your "system" a lot, but have never taken the time to inquire. I encourage your decision to follow the path of a PURE Price Action trader. It really is the only way....
Hey eggs, yeah I want to diversify. I rabbit on about my system a lot and I have wasted a couple of grand on junk. My swing trading system is price driven coupled with time from what I have observed and brings various timeframes together to create swing points. On the daily TF and above it is very accurate but admittedly at times this year it has shown weakness not seen before, while at other times it had been incredible. I still like it but looking for more regular action.
I almost sent bones a message asking him if he ever wakes up in the morning and just says to himself, how much money do I feel like making today? He has a very good eye for lines and PA I agree
Come with me if you want to live....
  • #313,679
  • May 18, 2012 1:05am May 18, 2012 1:05am
Quoting A-speculator
woo... that's brave mate.. don't count on when the retracement would happen.. atm, if the retracement does happen, we will seek the end of the move to go short again, just selling strength.. you might blow your account you know, if you try to predict the bottom..
Yeah i've done that before. I wasn't trying to pick a bottom i just let my long trade run too far into a loss & now i'm trying to justify a reason to keep it open lol. My stops @ 1.56880 i think i'm doing well hahaha
  • #313,680
  • May 18, 2012 1:06am May 18, 2012 1:06am
Quoting eggs
Yup. Swissy also approaching January Highs. Gotta see some reaction. Question is. Today or next week?
Ah ok, cool i see that now 2. I don't usually trade swiss so i didn't have it up, thanks dude
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