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Cable Update (GBPUSD)

  • #352,681
  • Nov 11, 2013 12:40pm Nov 11, 2013 12:40pm
Bottom forming for 5871 breaks with another try up for 6070 if now possible or 6000>6216 upside to crush further down in this week or next 5721 target . so play ranging to down ok .
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #352,682
  • Nov 11, 2013 12:44pm Nov 11, 2013 12:44pm
Quoting TauTrader
Good day, Have to sit out till later. Enough for 4 double cheese burgers at MacDonalds plus a cornetto chocolate McFlurry for each. Then a 2k run See Wednesday. On the road. Regards

should do it the other way round

2k run then 4 cheese burger with da flurry
  • #352,683
  • Nov 11, 2013 1:27pm Nov 11, 2013 1:27pm
Quoting fontu
Bottom forming for 5871 breaks with another try up for 6070 if now possible or 6000>6216 upside to crush further down in this week or next 5721 target . so play ranging to down ok . fontu {image} {image}
m8, i can never make head or tail of your charts.
  • #352,684
  • Nov 11, 2013 1:36pm Nov 11, 2013 1:36pm
Quoting squawk
{quote} Its goes with the old saying that most retail traders are correct just at the wrong time.
I've always wondered what it means to be RIGHT at the wrong time. If you are always bullish you are probably right half the time at the right time, and the other half the time you are right, just at the wrong time?

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  • #352,685
  • Nov 11, 2013 1:43pm Nov 11, 2013 1:43pm
Quoting shellsnail
{quote} I've always wondered what it means to be RIGHT at the wrong time. If you are always bullish you are probably right half the time at the right time, and the other half the time you are right, just at the wrong time?
As long as you're not wrong at the right time, it's all good
Those who say it cannot be done should not interrupt those who are doing it
  • #352,686
  • Nov 11, 2013 1:50pm Nov 11, 2013 1:50pm
Quoting Davit
{quote} Just curious why you would not flip those numbers 80% at resistance 20% support or choose any random number. To me its unknown variable unless you are a major player and hold clients order flow info even then you would know only small piece of the puzzle. regards Price is below weekly 200MA often used by institutions as barometer of sentiment. {image}

Just out of interest, what platform are you trading on? Because I have 2 different brokerage accounts I trade from and neither one of them has the Weekly 200-MA plugged into that previous candlestick. Each one of my charts show the 200MA about 260 pips below the close of last weeks candlestick. Just giving you the heads up because a slight mistake with MA's can cause a trader to be on the wrong side of a trade. So just make sure its the 200-MA you have up there and not a different one
  • #352,687
  • Nov 11, 2013 2:18pm Nov 11, 2013 2:18pm
Quoting INvestME
{quote} Just out of interest, what platform are you trading on? Because I have 2 different brokerage accounts I trade from and neither one of them has the Weekly 200-MA plugged into that previous candlestick. Each one of my charts show the 200MA about 260 pips below the close of last weeks candlestick. Just giving you the heads up because a slight mistake with MA's can cause a trader to be on the wrong side of a trade. So just make sure its the 200-MA you have up there and not a different one
You're right. To me it looks more like a 233 EMA on close price.
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Those who say it cannot be done should not interrupt those who are doing it
  • #352,688
  • Nov 11, 2013 2:21pm Nov 11, 2013 2:21pm
Quoting PipTrapper
{quote} You're right. To me it looks more like a 233 EMA on close price. {image}

Thanks for the confirmation on that PipTrapper although its more so for Davit. All in all, bias is correct, but just wrong MA spoken of on his post.
  • #352,689
  • Nov 11, 2013 2:25pm Nov 11, 2013 2:25pm
stupid day
  • #352,690
  • Nov 11, 2013 2:37pm Nov 11, 2013 2:37pm
Quoting 2012fx
stupid day
Understatement of the year ^^^
Those who say it cannot be done should not interrupt those who are doing it
  • #352,691
  • Nov 11, 2013 2:55pm Nov 11, 2013 2:55pm
Quoting PipTrapper
{quote} Understatement of the year ^^^

thanks
  • #352,692
  • Nov 11, 2013 4:02pm Nov 11, 2013 4:02pm
Quoting shellsnail
{quote} I've always wondered what it means to be RIGHT at the wrong time. If you are always bullish you are probably right half the time at the right time, and the other half the time you are right, just at the wrong time?
I guess for me I think it means sometimes we think to narrowly i.e not looking at extreme points but taking the obvious for stops, entries. I always look at my stop before I consider entry i.e how much can I except to loose on this trade. So I try and then look at the extreme Stop loss S&P zones and wait for price to get there. Most times its better to sit on your hands and wait however there is always the physiology of not wanting to miss out on a trade. Especially when you have done your analysis on and your logic believes its high prob. Then it can sometimes be hard to wait for those extreme areas for entries.

I think most retailers are just to keen to enter. I'm guilty sometimes, not wanting miss a trade.
  • #352,693
  • Nov 11, 2013 4:43pm Nov 11, 2013 4:43pm
Quoting PipTrapper
{quote} You're right. To me it looks more like a 233 EMA on close price. {image}
is it irrelevant that price closed above this MA quite a few times in weekly (for first time in ages), despite its current position? I dont use MA's so i wouldn't know. I dont understand how institutional sentiment can have changed it's mind so many times over the last few weeks. Davit put me on the iggy list for drawing attention to bullshit before so....

To me i see a big bull flag in weekly when i look at your chart. Not much else. No real clear signs in PA from HTF. We have this wonderful Zaphod Beeblebrox type H&S in D1 which if it breaks south would be great (as i held a short from .6039 from last week).
Other than that its a wait and see (apart from scalps).
  • #352,694
  • Nov 11, 2013 4:47pm Nov 11, 2013 4:47pm
Quoting squawk
{quote}Then it can sometimes be hard to wait for those extreme areas for entries. I think most retailers are just to keen to enter. I'm guilty sometimes, not wanting miss a trade.
waiting for the retest is v hard. indeed. not always appropriate either. It's a tough business.
  • #352,695
  • Nov 11, 2013 5:04pm Nov 11, 2013 5:04pm
Just wondered could you show bull flag ?


Quoting aBitWonKy
{quote} is it irrelevant that price closed above this MA quite a few times in weekly (for first time in ages), despite its current position? I dont use MA's so i wouldn't know. I dont understand how institutional sentiment can have changed it's mind so many times over the last few weeks. Davit put me on the iggy list for drawing attention to bullshit before so.... To me i see a big bull flag in weekly when i look at your chart. Not much else. No real clear signs in PA from HTF. We have this wonderful Zaphod Beeblebrox type H&S in D1 which if it...
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #352,696
  • Nov 11, 2013 5:05pm Nov 11, 2013 5:05pm
Interestingly price was around these levels in 2010, 2011 and 2012. The memory effect.
  • #352,697
  • Nov 11, 2013 5:11pm Nov 11, 2013 5:11pm
Quoting aBitWonKy
Interestingly price was around these levels in 2010, 2011 and 2012. The memory effect.
2008 and 2009, 2003, 2002, 2000,1998, 1997, 1996,1995... too actually lol

To travel from one point to another, it must pass through these levels.

if you ask me, looks a bit like the mirror image of the 2002-2007 run up, during which price first broke down from the levels, then went above it, and then came back to test the levels before exploding up 6000 pips.

Now we have price breaking above these levels after 2008, and then in april we went below it, and now we are retesting it. Another 5000 pip move in the works?
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  • #352,698
  • Nov 11, 2013 5:15pm Nov 11, 2013 5:15pm
Quoting Bones
Just wondered could you show bull flag ? {quote}
I could be mis-interpreting but here's what i see...

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  • #352,699
  • Nov 11, 2013 5:24pm Nov 11, 2013 5:24pm
We have nice RSI bearish divergence on D1
Evening doji Star on weekly
Only monthly looks bullish above 1.5750 where market seems to go.
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  • #352,700
  • Nov 11, 2013 5:28pm Nov 11, 2013 5:28pm
Quoting shellsnail
{quote} 2008 and 2009, 2003, 2002, 2000,1998, 1997, 1996,1995... too actually lol To travel from one point to another, it must pass through these levels. if you ask me, looks a bit like the mirror image of the 2002-2007 run up, during which price first broke down from the levels, then went above it, and then came back to test the levels before exploding up 6000 pips. Now we have price breaking above these levels after 2008, and then in april we went below it, and now we are retesting it. Another 5000 pip move in the works?
hehehe, i couldnt be bothered to go back that far! Lets extrapolate, for 'fun' that rise or fall in mid term, it'll be around this area in Nov 2014.
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