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Cable Update (GBPUSD)

  • #328,221
  • Oct 25, 2012 5:00am Oct 25, 2012 5:00am
Quoting tirmizi
yes sir in chart you will notice two box ranges
above box 77 pips lower box 76 pips lower end of upper box is 1.5889 and upper end of lower box is the same, so when another potential target for the next range could be like this

total of two boxes = 77 pips + 76 pips = 153 pips
now if you add this 153 pips to the price 1.5889 which is boundary of both the boxes you will get this number [color=Red]1.6142,

while typing high printed 6143
[size=5][size=4][size=2] i hope you are getting some ideas[size=2],...
here is the chart
Attached Image (click to enlarge)
Click to Enlarge Name: gbp box.png Size: 92 KB
Learning Requires Failure
  • #328,222
  • Oct 25, 2012 5:04am Oct 25, 2012 5:04am
Quoting tirmizi
yes sir in chart you will notice two box ranges
above box 77 pips lower box 76 pips lower end of upper box is 1.5889 and upper end of lower box is the same, so when another potential target for the next range could be like this

total of two boxes = 77 pips + 76 pips = 153 pips
now if you add this 153 pips to the price 1.5889 which is boundary of both the boxes you will get this number 1.6142,

while typing high printed 6143
[color=red][size=5][size=4][size=2]i...
It is impressive I guess this works for you well? How do you draw these boxes? (based on what data etc?)
  • #328,223
  • Oct 25, 2012 5:04am Oct 25, 2012 5:04am
i think 1.62xx is very possible. anyone with me on this?
Attached Image (click to enlarge)
Click to Enlarge Name: 2.jpg Size: 84 KB
  • #328,224
  • Oct 25, 2012 5:06am Oct 25, 2012 5:06am
Quoting Raftron
It is impressive I guess this works for you well? How do you draw these boxes? (based on what data etc?)
it is quite interesting, since on my charts, we have just broken the upper trendline, there is no immediate resistance in this area, no fibo etc. so from my perspective, there is not much there that would stop it at 1.6143
  • #328,225
  • Oct 25, 2012 5:10am Oct 25, 2012 5:10am
Quoting tirmizi
here is the chart
hmmm... I am also quite curious and hope he is right LOL.

According to his signature, I should be a successful genius
Come with me if you want to live....
  • #328,226
  • Oct 25, 2012 5:11am Oct 25, 2012 5:11am
Looks like a good time to short to me.

Chart H4
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD.png Size: 37 KB
  • #328,227
  • Oct 25, 2012 5:11am Oct 25, 2012 5:11am
don't be ridiculous - it's utter nonsense !! Those are arbitrary boxes and have no meaning - it is pre coincidence and there is no way a long term edge can be derived from such drivel !

G/L

Quoting Raftron
It is impressive I guess this works for you well? How do you draw these boxes? (based on what data etc?)
ex member
  • #328,228
  • Oct 25, 2012 5:15am Oct 25, 2012 5:15am
Quoting bbmac
don't be ridiculous - it's utter nonsense !! Those are arbitrary boxes and have no meaning - it is pre coincidence and there is no way a long term edge can be derived from such drivel !

G/L
You might be right, I don't know that is why I am asking. For me, there is nothing there to stop it from going higer therefore i would like to dig deeper into the reasoning behind it.
  • #328,229
  • Oct 25, 2012 5:15am Oct 25, 2012 5:15am
Yes I understand, ...but what about 76.4% 6216-5912, and the 1st 1/2 of a previous 1hr swing hi (ie previous imbalance of supply over demand) - by the way I make no comment about whether supply will exists here again sufficient to send price down - just that there are other factors there. Also underside of previous 4hr ascending t/line.

G/L

Quoting Raftron
it is quite interesting, since on my charts, we have just broken the upper trendline, there is no immediate resistance in this area, no fibo etc. so from my perspective, there is not much there that would stop it at 1.6143
Attached Image(s) (click to enlarge)
Click to Enlarge Name: z.jpg Size: 78 KB
Click to Enlarge Name: z1.jpg Size: 46 KB
ex member
  • #328,230
  • Oct 25, 2012 5:17am Oct 25, 2012 5:17am
Quoting Guowen
i think 1.62xx is very possible. anyone with me on this?
Nice trade

I don't think it will, but anything is possible!
  • #328,231
  • Oct 25, 2012 5:17am Oct 25, 2012 5:17am
Quoting Raftron
it is quite interesting, since on my charts, we have just broken the upper trendline, there is no immediate resistance in this area, no fibo etc. so from my perspective, there is not much there that would stop it at 1.6143
yes sir prices can go more high just a probability trade i have a pending short at 6144 high is 6143 my calculation was 6142 and just entered small short at 6134, if prices come back up i have pending waiting at 6144, 6155

good luck.
Learning Requires Failure
  • #328,232
  • Oct 25, 2012 5:24am Oct 25, 2012 5:24am
Quoting Ill-b-back
hmmm... I am also quite curious and hope he is right LOL.

According to his signature, I should be a successful genius
lol you talking of my signature??

if yes then, after failure what have we learned? and if not learned from failure then nothing learned imho, when ever i fail i learn something, the best thing i learned that how to correctly use leverage, and how not to lose money in this zero sum game
Learning Requires Failure
  • #328,233
  • Oct 25, 2012 5:25am Oct 25, 2012 5:25am
I am NOT falling for their games damn it...

Sorry for my expression...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: christmas trade2604if.gif Size: 15 KB
Click to Enlarge Name: christmas trade2605if.gif Size: 17 KB
Come with me if you want to live....
  • #328,234
  • Oct 25, 2012 5:28am Oct 25, 2012 5:28am
Quoting tirmizi
lol you talking of my signature??

if yes then, after failure what have we learned? and if not learned from failure then nothing learned imho, when ever i fail i learn something, the best thing i learned that how to correctly use leverage, and how not to lose money in this zero sum game
YES,

I have failed enough times to learn the dark secrets of the universe by now
Come with me if you want to live....
  • #328,235
  • Oct 25, 2012 5:35am Oct 25, 2012 5:35am
Quoting bbmac
don't be ridiculous - it's utter nonsense !! Those are arbitrary boxes and have no meaning - it is pre coincidence and there is no way a long term edge can be derived from such drivel !

G/L
Well it got the same result as mm +2/8 and top of 4 hr shi channel and in a Sd zone. surprising how these coincidences work out. We all know any of these things still do not tell the future so can any be said to give an edge then?
  • #328,236
  • Oct 25, 2012 5:40am Oct 25, 2012 5:40am
Quoting bbakker
Nice trade

I don't think it will, but anything is possible!
indeed anything is possible. one reason why i am bullish for the short term is cos of the latest news coming out of uk. and also us dollar is kind of directionless atm until jan 2013 when it will become more clear who will be the next president.

my analysis may be wrong. still have much to learn from u all here.
  • #328,237
  • Oct 25, 2012 5:47am Oct 25, 2012 5:47am
I don't doubt what you are saying about the murray math +2/8line and the 4hr shi channel - but how many market partyicipants do you think are looking at those 2 things ? - and of those that are (likely the retailers) do you think they have market moving volume if they did short there ? It is most likely this waqs profit take on the ryun up as the weaker postions eye the potential resistance overhead and decide to bank...it is not an obvious area for buy stos (on short psotions.) Most likley any others shorting will have done so/will do so on the fib and underside of the broken 4hr t/line and previous 1hr swing hi as oppposed to the shi and mm lines.

There are a million different ways to derive an edge - and the answer is yes you can derive an edge from technical factors. Edge's don't predict the future - none of them they simply tell us based on historical precedent of the last times they set-up what the greater probability may be - THIS IS NOT PREDICTION. The technical constants of support (demand) and resistance (supply) and price action are what you should look to base your edge on - not 'coincidences'

G/L

Quoting Grumbo
Well it got the same result as mm +2/8 and top of 4 hr shi channel and in a Sd zone. surprising how these coincidences work out. We all know any of these things still do not tell the future so can any be said to give an edge then?
ex member
  • #328,238
  • Oct 25, 2012 5:53am Oct 25, 2012 5:53am
Quoting fuse
Looks like a good time to short to me.

Chart H4
I agree. Refreshingly simple chart, btw.

Also, short @132, but in this market, not confident.

So why did I enter...?
  • #328,239
  • Oct 25, 2012 6:25am Oct 25, 2012 6:25am
From BBMac"There are a million different ways to derive an edge - and the answer is yes you can derive an edge from technical factors. Edge's don't predict the future - none of them they simply tell us based on historical precedent of the last times they set-up what the greater probability may be - THIS IS NOT PREDICTION. The technical constants of support (demand) and resistance (supply) and price action are what you should look to base your edge on - not 'coincidences'"

I don't disagree at all with anything you say. I believe that the real drivers are the economic and political requirements for big business and countries to do business with each other. I believe retail doesn't really sway the markets . Using charts is just a way of making the unknowable seem logical and all we see is the past, therefore everything including supply and demand is a lagging indicator.

however patterns and previous zones , trend lines etc. can in the short term seem to hold some validity and give an edge .
  • #328,240
  • Oct 25, 2012 6:36am Oct 25, 2012 6:36am
Quoting Grumbo
...
however patterns and previous zones , trend lines etc. can in the short term seem to hold some validity and give an edge .
Not least because so many participants in the market now follow them, valid or not.
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