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Cable Update (GBPUSD)

  • #344,961
  • Aug 11, 2013 4:07pm Aug 11, 2013 4:07pm
Quoting Revalif
{quote} actually i'm new in forex, could you tell me a little explanation what is summer range conditions? is summer range condition only happened in GU or in every pair? thx a lot before
In summer, Bankers are usually off having their holiday break, so really theres no BIG liquidity in the market to move BEYOND a predefined Range..... if you look at Summer, of last year meaning from June to September... you can see EURUSD stuck in a 300-400 pip range... GBPUSD 400 pip-ish range....
so really for GBPUSD i dont see us breaking above the previous high of 1.56 Nor the previous low at 1.52
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #344,962
  • Aug 11, 2013 4:42pm Aug 11, 2013 4:42pm
Quoting Revalif
{image} next week is time to dive ?
again
  • #344,963
  • Aug 11, 2013 4:49pm Aug 11, 2013 4:49pm
Quoting fxtyrant
{quote} In summer, Bankers are usually off having their holiday break, so really theres no BIG liquidity in the market to move BEYOND a predefined Range..... if you look at Summer, of last year meaning from June to September... you can see EURUSD stuck in a 300-400 pip range... GBPUSD 400 pip-ish range.... so really for GBPUSD i dont see us breaking above the previous high of 1.56 Nor the previous low at 1.52
Can you really justify what happened in 2011 and 2012 with this rule?
  • #344,964
  • Aug 11, 2013 4:56pm Aug 11, 2013 4:56pm
It always amazes me how bearish traders can be in the face of contrary technical evidence and flimsy fundamental analysis...and vice versa....and of course the market can remain bullish far longer than some think is possible even in the light of this and vice versa.

None of us know what will happen this week, prediction is futile unless you have empirical evidence that your prediction has represented a consistently profitable edge over a long period, but the tech conditions on 1hr upwards are still bullish overall and this certainly to daily t/f with weekly recent bullishness in it's overall rangy conditions. Fundamentally - it probably remains unclear particularly on short term direction....

All we have is the greater probability (if you are able to determine it from your own edge/analysis and a point at which it is clear that the greater probability is playing / is not playing out - and if trading technically - this particularly on your t/f (s) of interest.

G/L
ex member
  • #344,965
  • Aug 11, 2013 5:04pm Aug 11, 2013 5:04pm
building a short position.Currently short and my short limits are waiting.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.daily.png Size: 42 KB
In trading, you have to be defensive and aggressive at the same time
  • #344,966
  • Aug 11, 2013 5:10pm Aug 11, 2013 5:10pm
Quoting bbmac
It always amazes me how bearish traders can be in the face of contrary technical evidence
80% of forex is not trending.What you consider perhaps a trend supported by TA I see it as price within a channel to be exploited.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.daily.png Size: 43 KB
In trading, you have to be defensive and aggressive at the same time
  • #344,967
  • Aug 11, 2013 5:14pm Aug 11, 2013 5:14pm
Quoting Maso
{quote} Can you really justify what happened in 2011 and 2012 with this rule?
Well buddy, ive put an effort to show you how summer of 2012, DESPITE it being the summer of which UK has its Olympic games, people thought the GBPUSD was gona be bought HEAVILY.... funny enough GBPUSD only began breaking above the blue boxed range AFTER AUGUST...... (ps. Olympic is in August)
so yea in Summer, markets have a sort of set range if you can identify them you can make good bucks shorting the top of range and longing the bottom of range....
Attached Image (click to enlarge)
Click to Enlarge Name: 20130812.2212.gmt.gbpusd.daily.png Size: 39 KB


PS. same shit happen in 2011, very low trading ranges in 2011 June - September.... 2012.... same...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #344,968
  • Aug 11, 2013 5:45pm Aug 11, 2013 5:45pm
Quoting fxtyrant
{quote} Well buddy, ive put an effort to show you how summer of 2012, DESPITE it being the summer of which UK has its Olympic games, people thought the GBPUSD was gona be bought HEAVILY.... funny enough GBPUSD only began breaking above the blue boxed range AFTER AUGUST...... (ps. Olympic is in August) so yea in Summer, markets have a sort of set range if you can identify them you can make good bucks shorting the top of range and longing the bottom of range.... {image} PS. same shit happen in 2011, very low trading ranges in 2011 June - September.......
You beat me to it...
Summer ranges are fairly obvious most years.
Come with me if you want to live....
  • #344,969
  • Aug 11, 2013 6:01pm Aug 11, 2013 6:01pm
@inpatient @fxtyrant thanks for your explanation, helps me to understand what is summer ranges, but this summer BOE had a new governor that his policy maybe different from sir King
@Davit, nice indicator, are you using fractals? i just use bolinger band and stochastic in my chart
  • #344,970
  • Aug 11, 2013 6:13pm Aug 11, 2013 6:13pm
Quoting Revalif
{image} next week is time to dive ?
I'm not shorting but am keen to see if we move back to 5330-40 area if it holds as support...
Come with me if you want to live....
  • #344,971
  • Aug 11, 2013 6:29pm Aug 11, 2013 6:29pm
Quoting Revalif
@inpatient @fxtyrant thanks for your explanation, helps me to understand what is summer ranges, but this summer BOE had a new governor that his policy maybe different from sir King @Davit, nice indicator, are you using fractals? i just use bolinger band and stochastic in my chart

None of my trading decisions are based on indicators.I use semafor indi which locates tops bottoms and mid points for quick visual reference.
I am an artist so visuals do matter to me.
Indi comes with alerts with each high, mid, low points.Its useful if you are doing something in the house and hear it then you know something happened.
Attached File(s)
File Type: ex4 #4X 3 Semafor Alert.ex4   11 KB | 233 downloads
In trading, you have to be defensive and aggressive at the same time
  • #344,972
  • Aug 11, 2013 6:37pm Aug 11, 2013 6:37pm
Quoting Revalif
@inpatient @fxtyrant thanks for your explanation, helps me to understand what is summer ranges, but this summer BOE had a new governor that his policy maybe different from sir King @Davit, nice indicator, are you using fractals? i just use bolinger band and stochastic in my chart

Keep in mind that every trade creates New history.What happened in the past summer will not happen now otherwise wall street millionaires would of been librarians.It could look similar but never the same.
In trading, you have to be defensive and aggressive at the same time
  • #344,973
  • Aug 11, 2013 6:57pm Aug 11, 2013 6:57pm
Quoting Davit
{quote} None of my trading decisions are based on indicators.I use semafor indi which locates tops bottoms and mid points for quick visual reference. I am an artist so visuals do matter to me. Indi comes with alerts with each high, mid, low points.Its useful if you are doing something in the house and hear it then you know something happened. {file}
Quoting Davit
{quote} Keep in mind that every trade creates New history.What happened in the past summer will not happen now otherwise wall street millionaires would of been librarians.It could look similar but never the same.
thanks for your sharing
i'll try it in lunch-hour
  • #344,974
  • Aug 11, 2013 9:24pm Aug 11, 2013 9:24pm
Looking to short cable within this 4H
When the facts change I change my mind, what do you do sir
  • #344,975
  • Aug 11, 2013 9:26pm Aug 11, 2013 9:26pm
Quoting Davit
{quote} None of my trading decisions are based on indicators.I use semafor indi which locates tops bottoms and mid points for quick visual reference. I am an artist so visuals do matter to me. Indi comes with alerts with each high, mid, low points.Its useful if you are doing something in the house and hear it then you know something happened. {file}

flipping a coin works also - you just have to be on the right side of the coin!

Faller.
I don't trust any move - when you have profit...take it.
  • #344,976
  • Aug 11, 2013 10:18pm Aug 11, 2013 10:18pm
The GBP/USD is getting well into the Supply territory. Nice set up for a downside position. From what I am seeing, anyhow.
It's the simple things in life that have the most powerful meaning.
  • #344,977
  • Aug 11, 2013 10:56pm Aug 11, 2013 10:56pm
Quoting Faller
{quote} flipping a coin works also - you just have to be on the right side of the coin! Faller.

I hope that's working it out for you Anyway thanks for your brilliant insight
In trading, you have to be defensive and aggressive at the same time
  • #344,978
  • Aug 11, 2013 10:59pm Aug 11, 2013 10:59pm
Quoting Davit
{quote} I hope that's working it out for you Anyway thanks for your brilliant insight

so far so good -

50 / 50

lol!

I hope you did not think I was serious......

Cheers...

Faller.
I don't trust any move - when you have profit...take it.
  • #344,979
  • Aug 11, 2013 11:02pm Aug 11, 2013 11:02pm
Quoting Faller
{quote} so far so good - 50 / 50 lol! I hope you did not think I was serious...... Cheers... Faller.

I was not sure if you had a dagger in hand Public forums could become malicious
regards
In trading, you have to be defensive and aggressive at the same time
  • #344,980
  • Aug 11, 2013 11:21pm Aug 11, 2013 11:21pm
Quoting Davit
{quote} I was not sure if you had a dagger in hand Public forums could become malicious regards

I am still trying to figure a way to block all the B.S. here and only see the posts I would like to read..........there is a lot of shit one has to filter through each day......
I don't trust any move - when you have profit...take it.
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