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Cable Update (GBPUSD)

  • #357,861
  • Jan 9, 2014 10:51am Jan 9, 2014 10:51am
Quoting Davit
I am shamelessly short.To me its typical 123 pattern. Bullish pattern {image} {image}
Hey hey hey its going short we will pray to the gods of fib and archie
  • #357,862
  • Jan 9, 2014 10:54am Jan 9, 2014 10:54am
Quoting Davit
I am shamelessly short.To me its typical 123 pattern. Bullish pattern {image} {image}
Could you explain what is the validation and invalidation point of this pattern?
Anything is math!
  • #357,863
  • Jan 9, 2014 10:55am Jan 9, 2014 10:55am
Quoting Davit
I am shamelessly short.To me its typical 123 pattern. Bullish pattern {image} {image}
at them levels i could get out on top with a bit of juggleing
  • #357,864
  • Jan 9, 2014 10:58am Jan 9, 2014 10:58am
Quoting Kajos2250
{quote} Could you explain what is the validation and invalidation point of this pattern?

Pattern harmonically valid up to fib 88.6 at 6572 once violated its void.Sweet spot is 618-786 fibs
Notice price got rejected firmly at 618
regards
In trading, you have to be defensive and aggressive at the same time
  • #357,865
  • Jan 9, 2014 11:17am Jan 9, 2014 11:17am
Quoting Davit
{quote} Pattern harmonically valid up to fib 88.6 at 6572 once violated its void.Sweet spot is 618-786 fibs Notice price got rejected firmly at 618 regards
Maybe i can be wrong but the 123 pattern is not equal with 2b pattern!
I think that you shows on your chart it could be an abcd pattern which could be good for you
Anything is math!
  • #357,866
  • Jan 9, 2014 11:23am Jan 9, 2014 11:23am
Quoting Kajos2250
{quote} Maybe i can be wrong but the 123 pattern is not equal with 2b pattern! I think that you shows on your chart it could be an abcd pattern which could be good for you

123 could be part of AB=CD or part of EW or part of Gartley or part of butterfly.To me its irrelevant.Main emphasis is on key fib turning points.
People get fixated on shapes and names.To me its more important to understand how price travels in general that is zig zag motion.
In trading, you have to be defensive and aggressive at the same time
  • #357,867
  • Jan 9, 2014 11:42am Jan 9, 2014 11:42am
Quoting Davit
{quote} 123 could be part of AB=CD or part of EW or part of Gartley or part of butterfly.To me its irrelevant.Main emphasis is on key fib turning points. People get fixated on shapes and names.To me its more important to understand how price travels in general that is zig zag motion.
You are right, basic of all harmonic pattern is abcd pattern!
Anything is math!
  • #357,868
  • Jan 9, 2014 11:49am Jan 9, 2014 11:49am
Quoting Davit
I am shamelessly short.To me its typical 123 pattern. Bullish pattern {image} {image}
So Davit you dont want to cut your losses ?
  • #357,869
  • Jan 9, 2014 11:56am Jan 9, 2014 11:56am
This pair is doing exactly the same thing as 2 days ago ...made a fakey upwards and went down. Although this is a temporary shift downwards it still entails too much risk. Too much support and we will be fighting againt the trend
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 34 KB
  • #357,870
  • Jan 9, 2014 11:59am Jan 9, 2014 11:59am
Quoting pawpaw1000
How about this? {image}

rising wedge?
  • #357,871
  • Jan 9, 2014 12:02pm Jan 9, 2014 12:02pm
Short against 1.65 make sense to me. But I would only be half a tier - tier 1, no more & add to it below 1.64 again.

I think a test of 1.62 - 1.625 make sense... just do it responsibly

GL
  • #357,872
  • Jan 9, 2014 12:03pm Jan 9, 2014 12:03pm
Quoting IveGotQuads
{quote} So Davit you dont want to cut your losses ?

I will make it a note to post the results for your pleasure!
In trading, you have to be defensive and aggressive at the same time
  • #357,873
  • Jan 9, 2014 12:15pm Jan 9, 2014 12:15pm
Quoting Davit
{quote} I will make it a note to post the results for your pleasure!
I understand your pattern trade and it seems you have it in order with the time frame and position sizing. Goodluck in your trade
  • #357,874
  • Jan 9, 2014 12:22pm Jan 9, 2014 12:22pm
Quoting Davit
I am shamelessly short.To me its typical 123 pattern. Bullish pattern {image} {image}
I drew the yellow lines last Friday.
My timing is way off but the levels have played out well so far.

G/U H4
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh4.png Size: 46 KB
Those who say it cannot be done should not interrupt those who are doing it
  • #357,875
  • Jan 9, 2014 12:39pm Jan 9, 2014 12:39pm
Quoting Davit
{quote} I will make it a note to post the results for your pleasure!
price might go down to 1.642 that is 50% of yesterdays pin rejection candle and still inside the 1 h trend line , break below would be great , the main surport lies 1.6305 for me thats a nice target to aim for. Off out now catch you later .I POSTED THIS EARLYER I TO WAS THINKING 1.6420 ,THIS WILL GET ME OUT OF 1 SHORT WITH A FEW £ PROFIT we need it to break that price to break the 1h trend
  • #357,876
  • Jan 9, 2014 12:43pm Jan 9, 2014 12:43pm
Quoting elbert3
if london was having their january sale it has to start right about now,??????
It seems the information being shared about a "London Desk" is unreliable, at best. So far, out of three attempts to share information, two times the information has been wrong. You can guess with a better ratio than that.

We would be foolish to take Veer's friend at the Lond Desk at his word anymore. Whether the guy is lying or ineffective doesn't make a difference. Either way, it's no help to us.
  • #357,877
  • Jan 9, 2014 12:48pm Jan 9, 2014 12:48pm
Looks like it broke to the upside although no momentum....out for the day and wish everybody goodluck. Hopefully everybody makes some pips either way.
  • #357,878
  • Jan 9, 2014 12:49pm Jan 9, 2014 12:49pm
The lowes time frame where i can find bearish trend maybe M30
Anything is math!
  • #357,879
  • Jan 9, 2014 12:54pm Jan 9, 2014 12:54pm
Quoting Davit
{quote} I will make it a note to post the results for your pleasure!
I wish you, because i cant remember to positive trades from you. I hope i did not embarrass you!
Anything is math!
  • #357,880
  • Jan 9, 2014 12:57pm Jan 9, 2014 12:57pm
Quoting PipTrapper
{quote} I drew the yellow lines last Friday. My timing is way off but the levels have played out well so far. G/U H4 {image}
That is why i left an buy limit at 6427. But i hope it wont be filled
Anything is math!
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