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Cable Update (GBPUSD)

  • #350,361
  • Oct 24, 2013 12:01pm Oct 24, 2013 12:01pm
Quoting Tsar
Hi ALL, I warn again... Attention for : 11:45pm . GBP . BOE Gov Carney Speaks NEWS ... is Very and Very Dangerous ! :nerd: I wish you ALL, play with most Carefully & Lower Risk {image}
great buddy,thats the reason i collected my 30 pips b4 and done for today on GU,its an ranging market all pairs or most of them.

beter to grab small pieces till we will get confirmation for clear direct.

peace n love all,

Eitan.
when GOD brings you a challenge he also gives you the power to deal with it
  • #350,362
  • Oct 24, 2013 12:02pm Oct 24, 2013 12:02pm
BEARS LET IT GOOOOOO!
  • #350,363
  • Oct 24, 2013 12:03pm Oct 24, 2013 12:03pm
Quoting timos
What if i told you,that this pair,will break today!!!

Then I would ask you, are you a prophet? Why should I believe you?
  • #350,364
  • Oct 24, 2013 12:11pm Oct 24, 2013 12:11pm
Quoting ReneRu
cmon Cable, what is wrong with you?
Sometimes all the bitches in Frankfurt can not be as bitch as Cable.I call it the evil pussy when it moves like tonite
  • #350,365
  • Oct 24, 2013 12:15pm Oct 24, 2013 12:15pm
Quoting Baggi
{quote} Then I would ask you, are you a prophet? Why should I believe you?
If i were,i wouldn't be here
  • #350,366
  • Oct 24, 2013 12:24pm Oct 24, 2013 12:24pm
that's it, that's it..
  • #350,367
  • Oct 24, 2013 12:44pm Oct 24, 2013 12:44pm
working e-wave count
Attached Image (click to enlarge)
Click to Enlarge Name: 24OCT13GBP3.png Size: 95 KB
Don't have an ego. Always question yourself and your ability.
  • #350,368
  • Oct 24, 2013 12:45pm Oct 24, 2013 12:45pm
Quoting e061578
BEARS LET IT GOOOOOO!
Those who say it cannot be done should not interrupt those who are doing it
  • #350,369
  • Oct 24, 2013 12:49pm Oct 24, 2013 12:49pm
Quoting RamsesII
working e-wave count {image}
Hopefully a 2, but I'll settle for a B
Those who say it cannot be done should not interrupt those who are doing it
  • #350,370
  • Oct 24, 2013 12:49pm Oct 24, 2013 12:49pm
Quoting PipTrapper
{quote} Hopefully a 2, but I'll settle for a B
lol.. i won't
Don't have an ego. Always question yourself and your ability.
  • #350,371
  • Oct 24, 2013 12:59pm Oct 24, 2013 12:59pm
Quoting RamsesII
{quote} lol.. i won't
This is what I am envisioning.

Quoting PipTrapper
{quote} I prefer H/S patterns were the neckline slopes downwards instead of flat or slightly up, but yes there is potential for it. However, we need price to come back down and violate the neckline and then come back up to test it as resistance (confirmation) before it is tradable. From ehat I am seeing on the H4 chart, if the H/S plays out and reaches its measured target, we get a potential double top with a neckline around 1.5900 and a measured target of 1.5550

and here's my daily EW count.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusddaily.png Size: 111 KB
Those who say it cannot be done should not interrupt those who are doing it
  • #350,372
  • Oct 24, 2013 1:04pm Oct 24, 2013 1:04pm
Quoting PipTrapper
{quote} This is what I am envisioning. {quote} and here's my daily EW count. {image}
If we top out here, it's look out below.

Risky trade at this point, but it's got a large R:R ratio.
  • #350,373
  • Oct 24, 2013 1:11pm Oct 24, 2013 1:11pm
Quoting Baggi
{quote} If we top out here, it's look out below. Risky trade at this point, but it's got a large R:R ratio.
I measure risk with RR when everything else lines up. In that way, once price is sitting on a fence, that is where you get the best RR.

The high to crack is 1.6340. If price breaks through there, then my count is invalidated.

As for the double top I referred to, it's okay if it breaches the last high (1.6260) by a few pips. As long as it heads back down a breaks through the DT neckline, we're on our way to confirming my count and the ultimate destination will be in the 1.4x area.

It's a long shot right now with the Fed still pedal to the metal, but I see it as a lot less risk than going long at the high.

If 6340 is breached and acts as strong support after a pullback, I'll be very happy to open a long position with a tight stop.
Those who say it cannot be done should not interrupt those who are doing it
  • #350,374
  • Oct 24, 2013 1:11pm Oct 24, 2013 1:11pm
Quoting PipTrapper
{quote} This is what I am envisioning. {quote} and here's my daily EW count. {image}
Beauty... Ive been eyeing that triangle retest for months and is a major reason why I became active here again. R/r up here for that setup can be 50-100:1
Don't have an ego. Always question yourself and your ability.
  • #350,375
  • Oct 24, 2013 1:14pm Oct 24, 2013 1:14pm
Quoting RamsesII
{quote} Beauty... Ive been eyeing that triangle retest for months and is a major reason why I became active here again. R/r up here for that setup can be 50-100:1
Yep. I'm already salivating.
Those who say it cannot be done should not interrupt those who are doing it
  • #350,376
  • Oct 24, 2013 1:21pm Oct 24, 2013 1:21pm
Quoting PipTrapper
{quote} I measure risk with RR when everything else lines up. In that way, once price is sitting on a fence, that is where you get the best RR. The high to crack is 1.6340. If price breaks through there, then my count is invalidated. As for the double top I referred to, it's okay if it breaches the last high (1.6260) by a few pips. As long as it heads back down a breaks through the DT neckline, we're on our way to confirming my count and the ultimate destination will be in the 1.4x area. It's a long shot right now with the Fed still pedal to the...
Does it need to hit your double top for a confirmation? Couldn't we fail and have a lower high, before heading back down?

I'm not familiar with your system, but your trendline on the monthly is similar to mine and the fact that it's a descending line tells me we may fail to get back up to 6260. As I matter of fact, when we got up that high the other day, it broke through my monthly downtrend line (Not an issue because the trendline didn't act as support).

But when we're talking monthly trendlines, I tend to widen my trendline considerably. On the 5 minute, my trendline is probably a pip or two, but on the monthly? Over 20 pips of room there.
  • #350,377
  • Oct 24, 2013 1:26pm Oct 24, 2013 1:26pm
Quoting PipTrapper
{quote} Yep. I'm already salivating.
old ass chart that i made for this potential move...
Attached Image
Don't have an ego. Always question yourself and your ability.
  • #350,378
  • Oct 24, 2013 1:34pm Oct 24, 2013 1:34pm
Quoting Baggi
{quote} Does it need to hit your double top for a confirmation? Couldn't we fail and have a lower high, before heading back down? I'm not familiar with your system, but your trendline on the monthly is similar to mine and the fact that it's a descending line tells me we may fail to get back up to 6260. As I matter of fact, when we got up that high the other day, it broke through my monthly downtrend line (Not an issue because the trendline didn't act as support). But when we're talking monthly trendlines, I tend to widen my trendline considerably....
On larger time frames, I don't get too fussy. Yes, if it falls from here, I'll still call it a double top.
As my rule of thumb, I allow 12% of the size of the formation. So if it is a 500 pip formation, I allow +/- 60 pips variance between the tops.
Those who say it cannot be done should not interrupt those who are doing it
  • #350,379
  • Oct 24, 2013 1:36pm Oct 24, 2013 1:36pm
Quoting RamsesII
{quote} old ass chart that i made for this potential move... {image}
Nice. I wish I would have kept some of my old ones. It's nice to see a long term plan come together.

ADD: Oh wait. I found one in an old post
Quoting PipTrapper
{quote} This is what I have for cable Monthly {image} Weekly {image} Daily {image}
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdmonthly.png Size: 80 KB
Those who say it cannot be done should not interrupt those who are doing it
  • #350,380
  • Oct 24, 2013 2:21pm Oct 24, 2013 2:21pm
Good news for the bulls lol !

G/L
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