In trading, you have to be defensive and aggressive at the same time
Cable Update (GBPUSD)
- #369,742
- Edited 8:32pm Mar 30, 2014 6:51pm | Edited 8:32pm
- Joined Oct 2008 | Status: CANCELLED MEMBERSHIP | 3,116 Posts
{quote} I seem to have 1.61147. One possible harmonic buy pattern. {image}
I'm seeing, based on your chart, 1.63179 as a buy, but then, the D Extension for that buy changes. We could be looking between 1.6850 and 1.6900 for the D Extension and then a correction to confirm Davit's theory of a possible continuation of the long-term bearish move before 2008 crash based on your chart and then looking at a monthly or yearly chart.
Price Action speaks and then we listen
HDA OUT
- #369,743
- Mar 30, 2014 6:56pm Mar 30, 2014 6:56pm
- Joined Dec 2012 | Status: Trader | 8,124 Posts
{quote} @Mr. Scott: Good to see you
The world you desire can be won. It exists.. it is real.. it is possible..
- #369,744
- Mar 30, 2014 7:03pm Mar 30, 2014 7:03pm
- Joined May 2011 | Status: Get to the Chopper | 17,905 Posts
Come with me if you want to live....
- #369,745
- Mar 30, 2014 7:09pm Mar 30, 2014 7:09pm
- Joined Oct 2008 | Status: CANCELLED MEMBERSHIP | 3,116 Posts
{quote} Good to see you here as well. It is on my other chart, and has been there a long time. Sorry, got to run. {image}
Based on the weekly chart you have posted, if 1.62176 gets taken out, we could then look to buy 1.6170 for a retrace to form the right tip of the head and shoulder pattern, with the right tip coming in at about 1.66686, (please note, that would be text book picture perfect and that's not always the case) which you would then short to confirm the head and shoulder pattern that would form on the weekly.
But we are talking about a weekly chart - that is going to take some time
HDA OUT
- #369,746
- Mar 30, 2014 7:14pm Mar 30, 2014 7:14pm
- Joined Feb 2012 | Status: Trader | 21,377 Posts
In trading, you have to be defensive and aggressive at the same time
- #369,747
- Mar 30, 2014 7:22pm Mar 30, 2014 7:22pm
- Joined Oct 2008 | Status: CANCELLED MEMBERSHIP | 3,116 Posts
Forex Factory Members and Guests
Have a lovely evening
I'm gonna pay my wife some attention
HDA OUT
I remain long GBP/USD to 1.7000 in my position trade.
Have a lovely evening
I'm gonna pay my wife some attention
HDA OUT
I remain long GBP/USD to 1.7000 in my position trade.
- #369,748
- Mar 30, 2014 9:38pm Mar 30, 2014 9:38pm
- Joined Dec 2012 | Status: Trader | 8,124 Posts
{quote} Hi Scott Nice chart.Once I am done selling buying at D is in the cards for me. Regards
The world you desire can be won. It exists.. it is real.. it is possible..
- #369,749
- Mar 30, 2014 9:39pm Mar 30, 2014 9:39pm
- Joined Jul 2010 | Status: Always manage your risk & leverage | 7,339 Posts
not euphoria follower
- #369,750
- Edited 10:30pm Mar 30, 2014 9:53pm | Edited 10:30pm
- Joined Feb 2012 | Status: Trader | 21,377 Posts
Lets see if London can trigger 6650 my shorts.
Looks like PA is running down without me
About to break Lower TL
Looks like PA is running down without me
About to break Lower TL
In trading, you have to be defensive and aggressive at the same time
- #369,751
- Mar 30, 2014 10:29pm Mar 30, 2014 10:29pm
- Joined Sep 2011 | Status: Trader | 6,363 Posts
A good trader follows his rules, but great trader knows when to break them
- #369,752
- Mar 31, 2014 1:23am Mar 31, 2014 1:23am
- Joined Oct 2008 | Status: CANCELLED MEMBERSHIP | 3,116 Posts
Lets see if London can trigger 6650 my shorts. Looks like PA is running down without me
Please be reminded of the Options Barrier that I posted earlier. Please take note of 1.6615
http://www.forexfactory.com/showthre...70#post7372370
Here is part of the post:
10am Eastern Options Expiry for Monday, March 31, 2014
1.6750
1.6615
1.6550 pay out 400 million
HDA OUT
- #369,753
- Mar 31, 2014 1:25am Mar 31, 2014 1:25am
- Joined Feb 2012 | Status: Trader | 21,377 Posts
{quote} @Davit: Please be reminded of the Options Barrier that I posted earlier. Please take note of 1.6615 http://www.forexfactory.com/showthre...70#post7372370 Here is part of the post: 10am Eastern Options Expiry for Monday, March 31, 2014 1.6750 1.6615 1.6550 pay out 400 million HDA OUT
Thanks HDA
In trading, you have to be defensive and aggressive at the same time
- #369,754
- Mar 31, 2014 1:27am Mar 31, 2014 1:27am
- Joined Oct 2008 | Status: CANCELLED MEMBERSHIP | 3,116 Posts
{quote}
You're welcome
You're a good guy, so I will always be looking out for you.
HDA OUT
- #369,755
- Mar 31, 2014 1:40am Mar 31, 2014 1:40am
- | Commercial User | Joined Jan 2011 | 4,044 Posts
{quote} @Davit: Please be reminded of the Options Barrier that I posted earlier. Please take note of 1.6615 http://www.forexfactory.com/showthre...70#post7372370 Here is part of the post: 10am Eastern Options Expiry for Monday, March 31, 2014 1.6750 1.6615 1.6550 pay out 400 million HDA OUT
6710-6750 looks like a decent target this week, 6940-7000 this month, and 7240 this quarter.
- #369,757
- Mar 31, 2014 1:56am Mar 31, 2014 1:56am
- Joined Oct 2008 | Status: CANCELLED MEMBERSHIP | 3,116 Posts
{quote} HDA solid analysis, thanks for a heads up. Thought I was the by myself positioned LONG on GU. 6710-6750 looks like a decent target this week, 6940-7000 this month, and 7240 this quarter.
Thank you and you're welcome
In terms of targets based on time, I've learnt to allow price action to determine when and if it gets to set targets. Sometimes as traders when inflict on ourselves certain expectations of the market in terms of time to targets and subconsciously, we inadvertently plant seeds of bias. These seeds then grow and may eventually form roots, our analysis, can sometimes then, become impaired, if we are not careful.
So I've learnt to keep an open mind, lower my expectations in terms of time and allow price action to tell me and show me what its doing while patiently waiting as the market does it thing and at the same time, being cautiously optimistic and prepared to adjust my outlook as price action would dictate.
In other words, Lets See What Happens.
HDA OUT
- #369,759
- Mar 31, 2014 1:59am Mar 31, 2014 1:59am
- Joined Feb 2012 | Status: Trader | 21,377 Posts
In trading, you have to be defensive and aggressive at the same time
