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Cable Update (GBPUSD)

  • #316,601
  • Jun 17, 2012 5:28am Jun 17, 2012 5:28am
then look at monthly $ ,its just broken up ,straight into res

but look at $ monthly this would have to go to the bottom of last month ,for cable to go to 1.63, or further if gbp fails up move
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #316,602
  • Jun 17, 2012 5:37am Jun 17, 2012 5:37am
you can see major rising tl there breached ,but then gap back over that tl ,right on it ,



Quoting Bones
weekly point of view ,falling tl maybe open over ether way ,the weekly can not be ignored this week
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #316,603
  • Jun 17, 2012 5:56am Jun 17, 2012 5:56am
cable h4 plan ,assuming no gap up over
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #316,604
  • Jun 17, 2012 6:04am Jun 17, 2012 6:04am
Hi ya Robert ,do you know anything about this ,what it means ?



Quoting roro53
thanks for the link, Bones
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #316,605
  • Jun 17, 2012 6:08am Jun 17, 2012 6:08am
Great !! ,what I was shown is read monthly ,weekly so powerful really lots of time here ,daily then entry H4 ,

I think good way to go about things ,its wrong to say gotta be a millionaire to look at monthly honestly


Quoting Ill-b-back
I'm trying my hand at day trading, exciting stuff dude.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #316,606
  • Jun 17, 2012 6:09am Jun 17, 2012 6:09am
last week I made loss ,I traded against the weekly ,with no good reason other than monthly ,weekly very good for day trader
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #316,607
  • Jun 17, 2012 6:14am Jun 17, 2012 6:14am
I have made a mistake really very silly of me ,major assumption was below tl ,but when gapped up ,


Quoting Bones
my view is time to buy around 1.5
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #316,608
  • Jun 17, 2012 6:58am Jun 17, 2012 6:58am
My personal opinion is that I think we are in an artificial market Bones.
Without MASS QE, the whole thing would have seriously collapsed ages ago.
I am hearing more and more about a move away from the Dollar even in the public media.
I watched huge buying of cable against a very strong down trend in December last year while Europe and everywhere in the shit, you can seeing it clearly on a weekly chart. Then it just went nuts at the beginning of this year.

My own opinion is that we are seeing a huge shift in the market away from the dollar.
Or another way of looking at it, is that I view it as almost a WHOLE NEW MARKET, which I why I am starting the bullish channel from MAY 2010, rather than from JANUARY 2009, as I think the MAY point represents the time when the market really started reacting bullishly to QE, otherwise it really should have collapsed further after the bullish correction between JAN 2009 and MAY 2010 (highlighted in the shaded area). NOTE: you can also see very good candle reaction to the NEW TL in the shaded area on the monthly chart - a good indicator of channel integrity)

I see this supported by a huge bullish arch created this year combined with the last 2 bullish weeks against an obviously strong bearish monthly candle.
If we break the weekly channel I have, I think we gonna fly, I really do.
Just my 0.0000000000000000000000000001 cent
Got to go and "massage" the wife
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Come with me if you want to live....
  • #316,609
  • Jun 17, 2012 7:14am Jun 17, 2012 7:14am
lol well my channel is different I will admit ,lower line difficult in this mess ,but top line looks very strong to me ,

Not sure how much it means to you that we have been below that rising tl ,or that last month cover 4 months rise
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #316,610
  • Jun 17, 2012 7:32am Jun 17, 2012 7:32am
ok a bullish view on the quarterly ,depending on close this month
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #316,611
  • Jun 17, 2012 7:33am Jun 17, 2012 7:33am
my view but big dogs/greece/etc could change any time they want ...
http://www.trade-forex-harmonic-patt...%20pattern.gif
http://www.trade-forex-harmonic-patt...fly-pic500.jpg
Quoting Bones
lol well my channel is different I will admit ,lower line difficult in this mess ,but top line looks very strong to me ,

Not sure how much it means to you that we have been below that rising tl ,or that last month cover 4 months rise
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not euphoria follower
  • #316,612
  • Jun 17, 2012 7:38am Jun 17, 2012 7:38am
Quoting Bones
lol well my channel is different I will admit ,lower line difficult in this mess ,but top line looks very strong to me ,

Not sure how much it means to you that we have been below that rising tl ,or that last month cover 4 months rise
Ok massage done
But that's my point Bones, my TL is different to yours.
Mine starts from May 2010, not Jan 2009 for reasons I mentioned.
It's late here and up at 5am tomorrow.
I just find forex way too fascinating that's all, so I'm prob just getting carried away
But I guess suffice to say it won't surprise me at all to see her fly.
Will be a very interesting month for sure either way.
Come with me if you want to live....
  • #316,613
  • Jun 17, 2012 7:43am Jun 17, 2012 7:43am
Quoting Bones
lol well my channel is different I will admit ,lower line difficult in this mess ,but top line looks very strong to me ,

Not sure how much it means to you that we have been below that rising tl ,or that last month cover 4 months rise
Sorry dude, must have misread your message, missed the different TL reference out.
Nighty night...
Come with me if you want to live....
  • #316,614
  • Jun 17, 2012 8:49am Jun 17, 2012 8:49am
Yea of course interesting ,only yours is not a tl yet

Quoting Ill-b-back
Ok massage done
But that's my point Bones, my TL is different to yours.
Mine starts from May 2010, not Jan 2009 for reasons I mentioned.
It's late here and up at 5am tomorrow.
I just find forex way too fascinating that's all, so I'm prob just getting carried away
But I guess suffice to say it won't surprise me at all to see her fly.
Will be a very interesting month for sure either way.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #316,615
  • Jun 17, 2012 10:18am Jun 17, 2012 10:18am
The 3 result scenarios for the Greek elections are discussed here: http://www.forexcrunch.com/how-to-tr...s-with-eurusd/


'...with volatility comes opportunity...'

G/L
Attached Image (click to enlarge)
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ex member
  • #316,616
  • Jun 17, 2012 10:19am Jun 17, 2012 10:19am
here is my take on it for what that is worth, Bones

Quoting Bones
Hi ya Roro ,do you know anything about this ,what it means ?

#28390
from a fundamental perspective i find it hard to believe the other central banks including the FED will leave Mervyn King out to dry and not follow suit in some way or other

FOMC on the 20th

King is the venerable central banker of central bankers and has led the plea to push stimulus down to the common people.(bring QE or the illusion of it to the masses so to speak....you know, girls for nothing and money for free - also election year in the US)

(see article as referenced by Bones here; http://www.guardian.co.uk/business/2...to-high-street

in other words, King is a kind of Churchill appealing to the emotions of the populace but also has the credibility to pull it off.

i seriously doubt that King's effort are in in vain or to be wasted by wreck less central planning or poor timing.

there is however also a downside.......

and

#28394
there is really only so much room to maneuver imo and a lot of it as you have pointed out is perception management.

i think by putting King up the banks are either making a huge bluff and will try to kick it down the road on timely placed innuendo and implied threat of intervention and let the man retire peacefully, or are all in

honest answer.......i don't know, but if King is ditched and the FED comes up cold on the 20th then i think the market may fall hard and perhaps with an element of chaos........there is also an argument that that may be in the works by design too

mo only, but hope that helps in some way

more importantly Bones, i am seriously thinking of giving up trading for jewelry design


http://24.media.tumblr.com/tumblr_m5...7xwvo1_500.jpg

.anyone have an opinion on this or that?

http://24.media.tumblr.com/tumblr_m5...7xwvo1_500.jpg
  • #316,617
  • Jun 17, 2012 10:45am Jun 17, 2012 10:45am
Quoting Ill-b-back
Yeah, but I think you might get back to 63 nAV, just my opinion.
But really, since it was a 16 month chart trade, it's just been a 1 candle retracement.
Do you see the perspective brother?
Man, to hold your trade when at 63 the other month
A fine line between madness and genius. I think maybe you both
I'm trying my hand at day trading, exciting stuff dude.
yeah i see thats why im not bothered so much i know the bitch going to make mah old b4 it moves i also think 1.63 might be tested b4 it drops if it drops..so far last week move is a good sign to suggest this week may proved a counter

im laughing cause i aint holding meh breath

tony quarterly kinda shows the story quite well..this is why i love big time frames..it simplify the story
  • #316,618
  • Jun 17, 2012 10:45am Jun 17, 2012 10:45am
Looking to the immediate upside of Friday's closing price:

5713-26 prev minor 4hr sw hi zone incl 5726 = Friday/Last week's Hi
5731-48 prev 4hr sw lo zone (non-immed)
5748-91 prev minor Dly sw lo zoneincl 5762 = 85.4% 5847-5267 and 5782 = 50% main 6300-5267 move
[ 5800-10 descending Daily trend line on present 4hr candle
[ 5800-18 prev minor 4hr sw hi zone incl 5800 = Daily R1 @/around, and 5807 = Weekly R1 @/around
5830-47 prev Dly sw lo, prev Dly/4hr sw hi zone
5888 Daily R2 @/around
5903 Weekly R2 @/around
5904 61.8% main 6300-5267 move
5980 Monthly R1
6048-57 prev 4hr sw lo zone incl 6054= 76.4% main 6300-5267 move

Of course a big gap up on a New Democracy win in Greece could blast thru all of these.

NB: There are other fibs of the 4hr swings from 6187, 6180 and 6122 not mentioned above for eg 50% of the 6122-5267 is @/around the 726 Friday hi.

G/L
ex member
  • #316,619
  • Jun 17, 2012 10:49am Jun 17, 2012 10:49am
Quoting Bones
ok a bullish view on the quarterly ,depending on close this month

  • #316,620
  • Jun 17, 2012 1:46pm Jun 17, 2012 1:46pm
Greek election results;

http://jessescrossroadscafe.blogspot.ca/
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