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Cable Update (GBPUSD)

  • #378,261
  • May 19, 2014 7:53am May 19, 2014 7:53am
Quoting ruffryders
GBP AUD is a great BUY ATM. AUD USD is a great short ATM.
AU is right back to where I entered short this morning. Should have waited before coughing up 15 pips on it.... ....
Ghost Rider - WWTBMD?
  • #378,262
  • May 19, 2014 7:54am May 19, 2014 7:54am
Quoting albchr
{quote} AU is right back to where I entered short this morning. Should have waited before coughing up 15 pips on it.... ....
well it's diamond top on H4, so good chance of TP @ 9275 now.
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  • #378,263
  • May 19, 2014 7:59am May 19, 2014 7:59am
My view of the GBP/AUD. Already in at the 7850 and targeting 8150 before looking to a possible short.
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  • #378,264
  • May 19, 2014 7:59am May 19, 2014 7:59am
Quoting ruffryders
{quote} well it's diamond top on H4, so good chance of TP @ 9275 now. {image}
Don't know nothing about diamonds except they're expensive and a girls best friend. But this has to take out the fib before I'll get caught selling at the bottom of the range again. ...
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Ghost Rider - WWTBMD?
  • #378,265
  • May 19, 2014 8:01am May 19, 2014 8:01am
Quoting JimmyC
Long GU Unconvinced of DX Strength Stop is Fridays low... looking for 1.705 if we get there {image} {image}
  • #378,266
  • May 19, 2014 8:01am May 19, 2014 8:01am
Quoting squawk
My view of the GBP/AUD. Already in at the 7850 and targeting 8150 before looking to a possible short. {image}
yeah, looks legit, 8190 as is a great point to TP on LONG side.
  • #378,267
  • May 19, 2014 8:01am May 19, 2014 8:01am
Quoting JimmyC
Long GU Unconvinced of DX Strength Stop is Fridays low... looking for 1.705 if we get there {image} {image}
Hey Jimmy and ...
Ghost Rider - WWTBMD?
  • #378,268
  • May 19, 2014 8:04am May 19, 2014 8:04am
Quoting squawk
My view of the GBP/AUD. Already in at the 7850 and targeting 8150 before looking to a possible short. {image}
Nice!
Ghost Rider - WWTBMD?
  • #378,269
  • May 19, 2014 8:05am May 19, 2014 8:05am
Quoting ruffryders
{quote} yeah, looks legit, 8190 as is a great point to TP on LONG side.
I'd time this trade with AUD USD price action off this H4 chart.
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  • #378,270
  • May 19, 2014 8:05am May 19, 2014 8:05am
Quoting albchr
{quote} Hey Jimmy and ...
Hey Chris,

Hell yep, we will see and it will take a while but I think it poking its intentions North for now.

EU I'm waiting for the short higher up and I suspect when it starts, it'll be a bigish move South
  • #378,271
  • May 19, 2014 8:07am May 19, 2014 8:07am
Quoting albchr
{quote} Don't know nothing about diamonds except they're expensive and a girls best friend. But this has to take out the fib before I'll get caught selling at the bottom of the range again. ... {image}
it's technical patterns 101 bro.
  • #378,272
  • May 19, 2014 8:11am May 19, 2014 8:11am
Quoting ruffryders
{quote} it's technical patterns 101 bro.
I suppose it is RR but not for me. I'm not knocking it as I just don't know about it. But for me, charts aren't for drawing pretty pictures on. That said, I am just now embarking on harmonics because they're based on fibs. Now fibs I know pretty well.
Ghost Rider - WWTBMD?
  • #378,273
  • May 19, 2014 8:15am May 19, 2014 8:15am
Quoting JimmyC
{quote} Hey Chris, Hell yep, we will see and it will take a while but I think it poking its intentions North for now. EU I'm waiting for the short higher up and I suspect when it starts, it'll be a bigish move South
LOL... yeah. EU? I sure wish someone would push that pig up to the 3770/3795 area soon so I can short it. So far, it can't get past my daily TL and 50%.

Hmmmm..... ..... Do you think if I remove them it would help?
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Ghost Rider - WWTBMD?
  • #378,274
  • May 19, 2014 8:15am May 19, 2014 8:15am
Quoting albchr
{quote} I suppose it is RR but not for me. I'm not knocking it as I just don't know about it. But for me, charts aren't for drawing pretty pictures on. That said, I am just now embarking on harmonics because they're based on fibs. Now fibs I know pretty well.
I agree Chris, technical patterns are totally useless for many people, as well as elliott wave theory is useless for others, or moving averages, etc. Each one has a different method and the important thing is to master it and be profitable.
  • #378,275
  • May 19, 2014 8:18am May 19, 2014 8:18am
Quoting albchr
{quote} Nice!

Back at ya Chris. AUD definitely looks week and stalled at the moment. The RBA could fix that pretty quickly though and it seems to be hanging by a thread to the USD trendline. Waiting for a break of that and retest to possible short. Not confident to any continued longs on the AUD at the moment until it shows something. I still have a retest area of around 9300 on that one. Waiting to see what happens there.


I had a long in on this pair but took it of the table at 9300. Thought it was running up to quickly. Have been sitting and waiting for a return to this level to see how it reacts. I've got no orders in at the moment.


WAITING, WATCHING..


Like your charts.
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  • #378,276
  • May 19, 2014 8:19am May 19, 2014 8:19am
Quoting Carlicus
{quote} I agree Chris, technical patterns are totally useless for many people, as well as elliott wave theory is useless for others, or moving averages, etc. Each one has a different method and the important thing is to master it and be profitable.
Exactly Carlicus. I'll never mock another's approach. If it works, that's all that matters.
Ghost Rider - WWTBMD?
  • #378,277
  • May 19, 2014 8:23am May 19, 2014 8:23am
Quoting squawk
{quote} Back at ya Chris. AUD definitely looks week and stalled at the moment. The RBA could fix that pretty quickly though and it seems to be hanging by a thread to the USD trendline. Waiting for a break of that and retest to possible short. Not confident to any continued longs on the AUD at the moment until it shows something. I still have a retest area of around 9300 on that one. Waiting to see what happens there. I had a long in on this pair but took it of the table at 9300. Thought it was running up to quickly. Have been sitting and waiting...
I agree 100%. AU looks very weak hence my short this morning. But still in limbo for me. Now watch the floor drop out by the time this post hits...LOL

You harmonic chart back there is beautiful squawk. Just getting into them now. Quite green yet

EDIT: When I took the AU short @ 0.93492 it was off this 4H. Was aiming for the 38.2 I think it will get there. Maybe today...tomorrow?
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Ghost Rider - WWTBMD?
  • #378,278
  • May 19, 2014 8:48am May 19, 2014 8:48am
Quoting albchr
{quote} I agree 100%. AU looks very weak hence my short this morning. But still in limbo for me. Now watch the floor drop out by the time this post hits...LOL You harmonic chart back there is beautiful squawk. Just getting into them now. Quite green yet EDIT: When I took the AU short @ 0.93492 it was off this 4H. Was aiming for the 38.2 I think it will get there. Maybe today...tomorrow? {image}
Thanks Chris. That one is still forming and may not work out. I put them one charts but can't say I use them that much. I put potential ones setting up on the chart to remind me more than anything that there is a possible high percentage trade setting up. From my experience they always have setup areas around the untested areas which I watch more than the patterns. Hence always found the market moves on the retest areas that then form the harmonic patterns. So if the market moves in a total efficient manner either way theres little chance one will set up and found you need inefficient moves in the trade your trading the move against to give it better odds. For instance I've always found a lot of the time 127 extension will run into the 161 extension if theres a good untested area. I guess I take more notice of the extensions areas around untested areas than anything else.

  • #378,279
  • May 19, 2014 9:00am May 19, 2014 9:00am
Quoting squawk
{quote} Thanks Chris. That one is still forming and may not work out. I put them one charts but can't say I use them that much. I put potential ones setting up on the chart to remind me more than anything that there is a possible high percentage trade setting up. From my experience they always have setup areas around the untested areas which I watch more than the patterns. Hence always found the market moves on the retest areas that then form the harmonic patterns. So if the market moves in a total efficient manner either way theres little chance...
Well you see my charts. I'm a simple guy and I use pretty much just fibs and some ma's. A trend line or two on higher TF's but that's it. PASR. But I do like to investigate other methods that fit in, or work with those basics I use. Since I'm a fibber, <<< lol I'm always looking at the extensions as the extreme target/turn areas. Since I have seen and know a couple folks who use harmonics quite well to "see" these areas in advance, I became interested. Never above learning a new tool if it fits my hand.

AU looks like a break now.
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Ghost Rider - WWTBMD?
  • #378,280
  • May 19, 2014 9:19am May 19, 2014 9:19am
Quoting albchr
{quote} I suppose it is RR but not for me. I'm not knocking it as I just don't know about it. But for me, charts aren't for drawing pretty pictures on. That said, I am just now embarking on harmonics because they're based on fibs. Now fibs I know pretty well.
Thanks for a reply Chris. I'd still take a pretty picture with solid stats over the rainbows in my chart.
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