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Cable Update (GBPUSD)

  • #334,121
  • Jan 17, 2013 7:34pm Jan 17, 2013 7:34pm
Quoting alex1976
A spec, one thing at a time brother.

Lets not pontificate and hypothesize, let's trade as we see.

Now is south, I don't think it's south, it is south. Is being operative word.

If and when this changes, I will change with it.

Flow with the tide my "friend", trend till the end
it is always on the south side as long as the 6300 hold, my point is, we might get back to the 6000 price next week.. i won't get the long side for the obvious reason and i won't hold my position over the weekend..
  • #334,122
  • Jan 17, 2013 7:35pm Jan 17, 2013 7:35pm
Quoting alex1976
When you see the wave coming, don't hesitate to jump on your surf board and ride it on, the longer you wait the more likely it is you will miss the wave.
i think better wait and miss the wave, rather than on the wrong wave... lol.
  • #334,123
  • Jan 17, 2013 7:56pm Jan 17, 2013 7:56pm
No wave is a wrong wave, all comes down to if your man enough to jump on your board, vs testing wind velocity, wave size, sharks etc
  • #334,124
  • Jan 17, 2013 8:09pm Jan 17, 2013 8:09pm
Cable still playing games with this last TL, I'm waiting until next week for a retest if it's broken today.
Come with me if you want to live....
  • #334,125
  • Jan 17, 2013 8:46pm Jan 17, 2013 8:46pm
Quoting ZizoFX
I would like to see price at 1.6168. Feels like a Dejavu
hi, when you think it will up to this price? Pounds is weak for this week.
  • #334,126
  • Jan 17, 2013 11:38pm Jan 17, 2013 11:38pm
Quoting TauTrader
The last 4hr bar pulled back a bit too much for my liking. So not going to enter now. Will leave it for tomorrow. May get opportunity then.

Regards
Good day to you,

Picked up my long from support. However not confident that this will be sustainable. I post 2 charts. GU 4hr has got a current downtrend design that starts with a spike, followed by a progressive drop. So that is ok. Should the current design continue - we may see a speedy rise again somewhere in the near future. My problem is the 4hr EU. The trend design there - is characterized by bursts higher - followed by divergence - then to drop again. Correlation is out the window.

I thus believe EU has limitation north at present and I do not expect too much higher there..a short may soon be on the cards.

In a nutshell - Friday may turn out to be a bullish day overall - more so for GU. But next week may change the outlook.

Just my view. I'm leaving town in a few hours - so will not be following progress.

All the best for the sessions ahead.

Regards
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu.jpg Size: 174 KB
Click to Enlarge Name: eu.jpg Size: 177 KB
  • #334,127
  • Jan 17, 2013 11:53pm Jan 17, 2013 11:53pm
Quoting TauTrader
Good day to you,

Picked up my long from support. However not confident that this will be sustainable. I post 2 charts. GU 4hr has got a current downtrend design that starts with a spike, followed by a progressive drop. So that is ok. Should the current design continue - we may see a speedy rise again somewhere in the near future. My problem is the 4hr EU. The trend design there - is characterized by bursts higher - followed by divergence - then to drop again. Correlation is out the window.
...
Regards
Mr. T, your trading style is very unique. You are always experimenting with some new method. I see on your charts that you have quite a few diagonal lines. Is that some kind of template? Did you draw them up yourselves? What's the theory behind it?
  • #334,128
  • Jan 18, 2013 12:06am Jan 18, 2013 12:06am
Quoting CasperTrader
Mr. T, your trading style is very unique. You are always experimenting with some new method. I see on your charts that you have quite a few diagonal lines. Is that some kind of template? Did you draw them up yourselves? What's the theory behind it?
Mr.C-

I have quite a few different things that I use - going back and forth between these. I do not really have 1 fixed methodoligy. Can not do the naked thing though..

The diagonal lines are based on Gann theory. I have posted the indi on this thread - look for it. It has to be loaded daily, as it takes daily and weekly information into account. Based on the simple premise that ratios appear in nature - be it in the form of levels / slopes or angles.

Regards and all the best to you
  • #334,129
  • Jan 18, 2013 12:35am Jan 18, 2013 12:35am
Quoting TauTrader
Mr.C-

I have quite a few different things that I use - going back and forth between these. I do not really have 1 fixed methodoligy. Can not do the naked thing though..

The diagonal lines are based on Gann theory. I have posted the indi on this thread - look for it. It has to be loaded daily, as it takes daily and weekly information into account. Based on the simple premise that ratios appear in nature - be it in the form of levels / slopes or angles.

Regards and all the best to you
Just read up about Mr. W. D. Gann's methodology in Google. Interesting.

Are you still trying out the Hurst methodology? I would love hear some outcomes of that trial.

Regards.
  • #334,130
  • Jan 18, 2013 12:48am Jan 18, 2013 12:48am
Quoting CasperTrader
Just read up about Mr. W. D. Gann's methodology in Google. Interesting.

Are you still trying out the Hurst methodology? I would love hear some outcomes of that trial.

Regards.
The single purpose of the 3 Hurst MA's was to establish possible TP levels. They do assist greatly. They are however not ideal ( for me personally) - as one uses projection and shift and it can become quite objective. Wanted something simpler. So not focused on it really.

Regards
  • #334,131
  • Jan 18, 2013 1:06am Jan 18, 2013 1:06am
Quoting TauTrader
Good day to you,

Picked up my long from support. However not confident that this will be sustainable. I post 2 charts. GU 4hr has got a current downtrend design that starts with a spike, followed by a progressive drop. So that is ok. Should the current design continue - we may see a speedy rise again somewhere in the near future. My problem is the 4hr EU. The trend design there - is characterized by bursts higher - followed by divergence - then to drop again. Correlation is out the window.

I thus believe EU has limitation north at present and...
excellent work!!
90% of traders use TA, indicators and prediction
  • #334,132
  • Jan 18, 2013 1:10am Jan 18, 2013 1:10am
Quoting A-speculator
i think better wait and miss the wave, rather than on the wrong wave... lol.
i agree on this! i recently learned that if i have even 1 single doubt about a move, i stay out. no matter what!
usually that small doubt is the truth whatever it is: fear, unconscious mind, things not lined up with a strategy etc....
market gives hundreds of waves in a whole week!! no need to focus where there are doubts!
90% of traders use TA, indicators and prediction
  • #334,133
  • Jan 18, 2013 1:10am Jan 18, 2013 1:10am
Good day Mr. TT..
My longs were stopped for a few doz beers earlier by our friend smikester's New York murder call, but I too picked up another small one from 68 risking 48 pips for 3x+ pips..

Cable PA had been the underdog during the recent lead/lag cross play between Euro & their crosses with EURGBP doing the most damage.. IMO it had held up rather well under the circumstance with PA hugging the M/T TL here after some minor under-shots..

I believe it's now on the verge of either doing some reverse somersaults up to 1.62~63 or Olympic dives down to the major M/T demand zone 1.5850~00..

In keeping with my M/T bias, my bet is that 1.63 will print before 1.58 from here with EURGBP being the catalyst.. the scenario is for EURGBP to pause & retrace its 300 pips monthly extension here @M/T supply while GBPJPY & EURJPY extends their weekly pinbars up to higher grounds dragging EURUSD over 1.34 & GBPUSD off the floor here..

Have a nice trip..
CC

Attached Image
  • #334,134
  • Jan 18, 2013 1:14am Jan 18, 2013 1:14am
Quoting _BBKing_
excellent work!!
BB-



May turn out to be the biggest load of cr*p ever posted...

But thanks?

Regards
  • #334,135
  • Jan 18, 2013 1:14am Jan 18, 2013 1:14am
what about the thing with UK leaving europe?
90% of traders use TA, indicators and prediction
  • #334,136
  • Jan 18, 2013 1:17am Jan 18, 2013 1:17am
think it might go a little lower
Quoting cdndollar
Good day Mr. TT..
My longs were stopped for a few doz beers earlier by our friend smikester's New York murder call, but I too picked up another small one from 68 risking 48 pips for 3x+ pips..

Cable PA had been the underdog during the recent lead/lag cross play between Euro & their crosses with EURGBP doing the most damage.. IMO it had held up rather well under the circumstance with PA hugging the M/T TL here after some minor under-shots..

I believe it's now on the verge of either doing some reverse somersaults up to 1.62~63 or Olympic...
Attached Image (click to enlarge)
Click to Enlarge Name: 1-17-2013 11-16-31 PM.jpg Size: 315 KB
  • #334,137
  • Jan 18, 2013 1:22am Jan 18, 2013 1:22am
Quoting cdndollar
Good day Mr. TT..
My longs were stopped for a few doz beers earlier by our friend smikester's New York murder call, but I too picked up another small one from 68 risking 48 pips for 3x+ pips..

Cable PA had been the underdog during the recent lead/lag cross play between Euro & their crosses with EURGBP doing the most damage.. IMO it had held up rather well under the circumstance with PA hugging the M/T TL here after some minor under-shots..

I believe it's now on the verge of either doing some reverse somersaults up to 1.62~63 or Olympic...
Captain Canada,

You have expressed far better what I believe to be a possible scenario. I do see some bulls roaming the London streets as we speak...but I was not sure if I have to wait another 3 hrs for a better entry.. So I will place another buy a bit lower before I leave - if needed. Divergence ( bullish) also setting up.

I guess my bed is made. Will be sure to place a stop as well - funnier things have happened.

All success to you

Regards
  • #334,138
  • Jan 18, 2013 1:31am Jan 18, 2013 1:31am
Quoting dsmith2269
think it might go a little lower
Thanks for sharing.. nice chart..

Quoting TauTrader
Captain Canada,

You have expressed far better what I believe to be a possible scenario. I do see some bulls roaming the London streets as we speak...but I was not sure if I have to wait another 3 hrs for a better entry.. So I will place another buy a bit lower before I leave - if needed. Divergence ( bullish) also setting up.

I guess my bed is made. Will be sure to place a stop as well - funnier things have happened.

All success to you

Regards
Make sure you don't roll off the bed when those New York Grizzlies show up again..

http://static.ffxiah.com/images/avat...fb3efda91f.jpg
  • #334,139
  • Jan 18, 2013 1:31am Jan 18, 2013 1:31am
Quoting TauTrader
The single purpose of the 3 Hurst MA's was to establish possible TP levels. They do assist greatly. They are however not ideal ( for me personally) - as one uses projection and shift and it can become quite objective. Wanted something simpler. So not focused on it really.

Regards
Cool. If not anything, looking at something from various perspectives will make you even better.
  • #334,140
  • Jan 18, 2013 1:32am Jan 18, 2013 1:32am
Bouncing precisely off the ascending weekly TL yesterday, looking to see if we can take care of the descending daily/4hr TL today.
Come with me if you want to live....
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