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Cable Update (GBPUSD)

  • #371,641
  • Apr 11, 2014 12:20pm Apr 11, 2014 12:20pm
Quoting godim
{quote} These are the charts at the moment. I'm disappointed. Next week I will not be online. {image} {image}
These are no charts ... these are spider webs.

This is a chart for example:

http://www.dailyfx.com/forex_forum/a...te-21.04.-.jpg
Fix up, trade sharp ...
  • #371,642
  • Apr 11, 2014 12:21pm Apr 11, 2014 12:21pm
Quoting Hickson
{quote} These are no charts ... these are spider webs. This is a chart for example: {image}
yeah, hint - just ignore.
  • #371,643
  • Apr 11, 2014 12:31pm Apr 11, 2014 12:31pm
spinning top on EU D1 as a closing candle, does indicate that EU will pullback lower, 3840-60 area.
Cable set to slide too, potential reversal zone, as noted previously 6660-6680 area.

I can't really see both trading below that, due to recent strength.

Considering dumping some EUAUs to replace with straight calls on EU/GU.
  • #371,644
  • Apr 11, 2014 12:39pm Apr 11, 2014 12:39pm
As I read I see triple fairly even rejections ( first and last almost exact) against varied below ,size wise none of bullish or bearish reversal set up have been large ,
I do feel the 2 point across consolidation falling tl is not relevant nor is there inverse head and shoulders ,
its only my opinion
Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd d1 triple USD (DFB).png Size: 32 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #371,645
  • Apr 11, 2014 12:48pm Apr 11, 2014 12:48pm
Here's GUs EW print out from the ELWAVE. If I had margin, I'd be buying into pullback.

Still, someone might find that useful, regardless.
Attached Image
  • #371,646
  • Apr 11, 2014 12:55pm Apr 11, 2014 12:55pm
target number 6632 , for me only going to add shorts , the 1 hour is trending down 4 hour trend down 6688, thats my numbers , gl have a nice weekend we will be in for a big pay out next week
  • #371,647
  • Apr 11, 2014 1:04pm Apr 11, 2014 1:04pm
Quoting albchr
{quote} Oh ..... quit being such a stick in the bears mud man.... (kidding with ya of course)
The action probably start next week with data sinking in.
Too much indecision re no rate hike anytime soon and positive data.
Take care brother
Come with me if you want to live....
  • #371,648
  • Apr 11, 2014 1:09pm Apr 11, 2014 1:09pm
Quoting Hickson
{quote} These are no charts ... these are spider webs. This is a chart for example: {image}

I am very glad that there are people among us. Please, you often write.
"You have to BE before you can DO, and DO before you can HAVE." Zig Ziglar
  • #371,649
  • Apr 11, 2014 2:12pm Apr 11, 2014 2:12pm
I think Monday we will see it below 1.67 for the mast time in this month and after that the whole month it will stay above 1.68 only if wednesday fundamental news goes positive. Otherwise we will start going down.
  • #371,650
  • Apr 11, 2014 2:24pm Apr 11, 2014 2:24pm
Quoting mszaman
I think Monday we will see it below 1.67 for the mast time in this month and after that the whole month it will stay above 1.68 only if wednesday fundamental news goes positive. Otherwise we will start going down.

So, In other words you have no idea, good! ... like everyone.
  • #371,651
  • Apr 11, 2014 11:28pm Apr 11, 2014 11:28pm
Quoting JeremyWS
{quote} So, In other words you have no idea, good! ... like everyone.



I say this 100+ times...no one knows where it goes.....
when we are at high level everybody speak about higher,when we are down about lower!
  • #371,652
  • Apr 11, 2014 11:34pm Apr 11, 2014 11:34pm
Quoting Bones
As I read I see triple fairly even rejections ( first and last almost exact) against varied below ,size wise none of bullish or bearish reversal set up have been large , I do feel the 2 point across consolidation falling tl is not relevant nor is there inverse head and shoulders , its only my opinion {image}
I see a shampoo (H&S) same as you. but....

http://image.ohozaa.com/i/f9c/Vtmb8C.png

I want to be rich.
  • #371,653
  • Edited 12:32am Apr 12, 2014 12:17am | Edited 12:32am
Quoting godim
{quote} I am very glad that there are people among us. Please, you often write.
Yes. Often is obtained exactly in this way. Arrives occasional reader. And see many lines. Nothing understands. But gives "priceless" advice. But I, what can I do? By force I can not give him. Only someone who wants it can get. Others put me in the category ignore.

All right. To try to analysis. First about the cable.
The cable is in UpTrend. 354 pips in 13 days. Three swings. The last swing was 264 pips in 4 days. Last bar on a daily chart has a lower top and lower bottom. On the rules for two day swing chart that is only Neutral Slope. To note the start of the Down Swing need another bar with a lower bottom and lower top. This will mean a trend reversal (swing). New Trend Down will occur only when the price fell below 6554.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd_daily.gif Size: 238 KB


There is a table of probabilities. Probability of reversal is 75.8%.
Attached Image


Of the fan chart I showed criteria for finish the trend (swing). If and when the price goes below this line we can say with high probability that the swing is over.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 55 KB


Conclusion. Is very likely to reverse. But the bulls still have their chances. Opening above 6722 will give bulls an opportunity to attack 6757. If the price received support from this line UpTrend can continue.
"You have to BE before you can DO, and DO before you can HAVE." Zig Ziglar
  • #371,654
  • Apr 12, 2014 12:34am Apr 12, 2014 12:34am
Quoting Ill-b-back
{quote} The action probably start next week with data sinking in. Too much indecision re no rate hike anytime soon and positive data. Take care brother
The no rate hike was priced in quite a few weeks ago at 6821 anyway, soo...
Come with me if you want to live....
  • #371,655
  • Apr 12, 2014 1:06am Apr 12, 2014 1:06am
Quoting musani
{image}
cannot load that, but does not seem to go in, and cannot find it on the net, do you have any other links ,, regards E
  • #371,656
  • Apr 12, 2014 1:38am Apr 12, 2014 1:38am
Quoting godim
{quote} Yes. Often is obtained exactly in this way. Arrives occasional reader. And see many lines. Nothing understands. But gives "priceless" advice. But I, what can I do? By force I can not give him. Only someone who wants it can get. Others put me in the category ignore. All right. To try to analysis. First about the cable. The cable is in UpTrend. 354 pips in 13 days. Three swings. The last swing was 264 pips in 4 days. Last bar on a daily chart has a lower top and lower bottom. On the rules for two day swing chart that is only Neutral Slope....
Second for the euro. The euro is in UpTrend = UpSwing. 232 pips for 5 days. I wrote yesterday that the cable is ahead on price and the euro after him. The last bar on the daily chart has a higher peak. This makes it part of the swing. Of reversing the trend is still early to talk. Are needed at least two bars of daily chart, with lower peaks of 3904 and lower lows since 3863. In other words, at the earliest on Wednesday.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_daily.gif Size: 242 KB


For the euro I do another chart. Two days Swing chart. On this chart can be searched any dependencies or performing repeat swings.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_d1.gif Size: 54 KB


The probability of reversal is 60%. In other words, the probability of the repetition of the sequence 1-2-3 swings is 60%.
Attached Image


Of the fan chart I showed criteria for finish the trend (swing). If and when the price goes below this line we can say with high probability that the swing is over.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 66 KB


Conclusion: the euro is in UpTrend. For now, there is strong support. When opening above 3868 we can expect a new attack to 3878 and then 3900. Purpose of this attack is continuing UpTrend. The next objective is to break above 3933 and attack the top of the 3966 level.
"You have to BE before you can DO, and DO before you can HAVE." Zig Ziglar
  • #371,657
  • Apr 12, 2014 1:52am Apr 12, 2014 1:52am
i've updated my take on GU and others in my thread. feel free to review. http://www.forexfactory.com/showthre...23#post7401223
  • #371,658
  • Apr 12, 2014 3:49am Apr 12, 2014 3:49am
Many of you do not understand that the market is dynamic. Construction areas of support and resistance, which are horizontal. This means - static. Construction FiBo. They are also horizontal. This means - static. But the market is dynamic. Everything changes with each bar of the chart.
It is very difficult for us to determine which levels, when to use it. It is very difficult. Gator does. It works with horizontal levels - Fibo or Mofu, irrelevant. But he has some algorithm of inclusion and exclusion of the "old" levels.
What happens with you? You draw all levels, but then no algorithm. Algorithm for price movement in the levels of support and resistance. And here comes the confusion.
How do I proceed? First, with fans of Gann I build dynamic levels of support and resistance. Second, using the rule for all angles, as algorithm for price movement in support and resistance.
I hope you have already noticed how each market situation I (Gann) converted into standard situation. Which has a solution. Which is statistically verified. This solution I describe as "normal". The market does not always comply with the normal solution. But more often we have a solution.

Finally a story. For all who have subscribed in the category ignore.

The story goes that during a walk disciple of Socrates asked question, and the philosopher replied that he not knows the answer and he have to consider. Student laughed because he said the question was simple and even ignorant person can answer. Socrates then drawn in the sand two circles - one large and one small, and said: "The closed circles inside is knowledge and beyond what we not know. The small circle that is much less common with ignorance is knowledge of the ignorant, so he has no doubt. The large circle is the knowledge of a scholar. This round has much more in common with ignorance, so the scientist knows how much he does not know."
"You have to BE before you can DO, and DO before you can HAVE." Zig Ziglar
  • #371,659
  • Apr 12, 2014 3:55am Apr 12, 2014 3:55am
Next week, I will not be online. I wish you many green pips.
"You have to BE before you can DO, and DO before you can HAVE." Zig Ziglar
  • #371,660
  • Apr 12, 2014 3:57am Apr 12, 2014 3:57am
Quoting godim
Next week, I will not be online. I wish you many green pips.
Good luck nice man.
If skills could be acquired by watching, every dog would be a butcher. Turk
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