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Cable Update (GBPUSD)

  • #380,521
  • Jun 5, 2014 9:01am Jun 5, 2014 9:01am
Quoting elbert3
{quote} well done chris for getting back in at 39,,look at that pin on the 4 hour chart,?? How long does that 4 hour last for ???{image}
Thank you sir.

Well, 4H is sort of unreliable for comparison between traders. Mine, which closes in 2 hours looks a tad different than yours. While I'd love to see mine close over 6780 with conviction, The "bar" really doesn't matter. Price, in any given bar, is all that does. The only "true" indicator is price. If this 4H of mine doesn't close above 6780, but the next 1H does, what's it matter?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdmh4.png Size: 70 KB
Ghost Rider - WWTBMD?
  • #380,522
  • Jun 5, 2014 9:05am Jun 5, 2014 9:05am
Quoting elbert3
{quote} you seem to be thinking a lot??? Lol
Sometimes too much.
Everyone can see the chart, but only a few can actually read it.
  • #380,523
  • Jun 5, 2014 9:06am Jun 5, 2014 9:06am
Quoting Carlicus
{quote} It depends on your time frame, since if I use the same logic: after having risen 2000 pips already, who's more prone to being a sucker? ... What is your tp on the long side? I think both of us can be right depending on the time frame. For example, if you think shorts are being tricked to reach 1.685, and that number is hit, you are right. But that movement to 1.685 could be considered by me as longs being tricked if we finally reach 1.65
It's not the same logic....You can't be comparing apple and oranges....
2000 pips rise spans over a period of past 52 weeks(if anything this only underpins overall primary trend) , the 300 pip fall occured over past 4 weeks i.e. very recent.

Ask yourself these questions...

which one is fresher in traders' minds?

Is anybody even holding a 2000 pip long position?

What risks are we considering at this point (1.6700-1.6730....price already higher btw...), what happend in the recent past? definitely not 2000 pips rise.

I think we can all agree on what the answer is.
Hear the music before the song is over ...
  • #380,524
  • Jun 5, 2014 9:09am Jun 5, 2014 9:09am
Quoting OnlineAddict
{quote} Yeah, I wish I entered low during asian...I was too greedy, wanted it lower.
Always a next time
  • #380,525
  • Jun 5, 2014 9:10am Jun 5, 2014 9:10am
Quoting albchr
{quote} Thank you sir. Well, 4H is sort of unreliable for comparison between traders. Mine, which closes in 2 hours looks a tad different than yours. While I'd love to see mine close over 6780 with conviction, The "bar" really doesn't matter. Price, in any given bar, is all that does. The only "true" indicator is price. If this 4H of mine doesn't close above 6780, but the next 1H does, what's it matter? {image}
See thats an interesting point - i have 2 x 4 hour charts one of em begins an hour before the other .. still trying to find an edge with it lol..
  • #380,526
  • Jun 5, 2014 9:10am Jun 5, 2014 9:10am
short 6782 79 4x
In trading, you have to be defensive and aggressive at the same time
  • #380,527
  • Jun 5, 2014 9:14am Jun 5, 2014 9:14am
Quoting GlobalMacro
{quote} It's not the same logic....You can't be comparing apple and oranges.... 2000 pips rise spans over a period of past 52 weeks, the 300 pip fall occured over past 4 weeks i.e. very recent. Ask yourself these questions... which one is fresher in traders' mind? Is anybody even holding a 2000 pip long position? What risks are we considering at this point (1.6700-1.6730....price already higher btw...), what happend in the recent past? definitely not 2000 pips rise. I think we can all agree on what the answer is.
Yes GM that true i will agree , but still short ,,,, for now, regards B ,, where is HDA,, HDA we know your watching, writing making notes about us all, Chris and his bad jokes, Jimmy and his good charting, ,lol regards E out, short to 64 lol
  • #380,528
  • Jun 5, 2014 9:14am Jun 5, 2014 9:14am
Quoting Davit
short 6782 79 4x
... Bored again?
Ghost Rider - WWTBMD?
  • #380,529
  • Jun 5, 2014 9:15am Jun 5, 2014 9:15am
Quoting Davit
short 6782 79 4x
Hi Davit, thats a good man, regards Billy
  • #380,530
  • Jun 5, 2014 9:18am Jun 5, 2014 9:18am
Quoting elbert3
{quote} Hi GM you ok,, gb did go up 2000 from 47 ??? i think it will consolidate now for a bit, and we will recess and hold court later, we will find cable guilty, and it will be taken down and hung..lol sorry still no wine ,,regards B
Hi Billy. I'm fine, hope everything's OK on your end as well.

I think after you had your red you'll come around and see the light.....

btw, you're always on the opposite side of my trades...are you market maker or something? LOL
Hear the music before the song is over ...
  • #380,531
  • Jun 5, 2014 9:22am Jun 5, 2014 9:22am
Got my chance to enter. Short from 89 and 92. Maybe I get my second chance to break 35-40 tomorrow.
Everyone can see the chart, but only a few can actually read it.
  • #380,532
  • Jun 5, 2014 9:25am Jun 5, 2014 9:25am
Quoting DerekTrotter
{quote} See thats an interesting point - i have 2 x 4 hour charts one of em begins an hour before the other .. still trying to find an edge with it lol..
Man I've tried them all. 2,4,6,8, (who do we appreciate?..lol) 12,14, 24, it's all the same really. Well.. to me anyway. They are simply visual representations of price and if you really dig down deep, they too are actually lagging. Very small lags but lags non the less. Price moves first, bars get painted on the screen next.

For me, there are really only levels to watch, and the price RE-action around them. Then seeing the actual "structure" of that PA is the best clues I can find as to what "may" happen and thus, what to look for. Perhaps having no ego is what helps me have no bias. I really don't have one. She going up, I buy. She going down, I sell. Neither means anything to me except trying to be on the right side of it.
Ghost Rider - WWTBMD?
  • #380,533
  • Jun 5, 2014 9:25am Jun 5, 2014 9:25am
Sweet - why everyone is shorting have no idea.. in the minority but then whats new ..
  • #380,534
  • Jun 5, 2014 9:27am Jun 5, 2014 9:27am
Quoting DerekTrotter
Sweet - why everyone is shorting have no idea.. in the minority but then whats new ..
Mainly daily scalping...but looks like euro holds us up.

I'm out, waiting for another spike up to re-enter higher.
Everyone can see the chart, but only a few can actually read it.
  • #380,535
  • Jun 5, 2014 9:29am Jun 5, 2014 9:29am
Quoting albchr
{quote} Man I've tried them all. 2,4,6,8, (who do we appreciate?..lol) 12,14, 24, it's all the same really. Well.. to me anyway. They are simply visual representations of price and if you really dig down deep, they too are actually lagging. Very small lags but lags non the less. Price moves first, bars get painted on the screen next. For me, there are really only levels to watch, and the price RE-action around them. Then seeing the actual "structure" of that PA is the best clues I can find as to what "may" happen and thus, what to look for. Perhaps...
Great summary
  • #380,536
  • Jun 5, 2014 9:30am Jun 5, 2014 9:30am
Quoting GlobalMacro
{quote} Hi Billy. I'm fine, hope everything's OK on your end as well. I think after you had your red you'll come around and see the light..... btw, you're always on the opposite side of my trades...are you market maker or something? LOL
lol i took 4 off before good profit, i could of took the 6 because the 2 i left was the 2 at 725 ?? so i am underwater with them but the acc is up if you can understand that,, they are free money no matter if it goes to 2000 , this one is a scalp back to the 10 ema on the 4 hour because it has crossed over to show long??? but it can change if we get a big enough move back down ,, then i could go long,,but lets see,, good luck,, you are my longest trader who first answered my first post ???
  • #380,537
  • Jun 5, 2014 9:31am Jun 5, 2014 9:31am
Quoting OnlineAddict
{quote} Mainly daily scalping...but looks like euro holds us up.
right .. time for a cuppa and a digestive.. well there are somethings that are still british even if they make the tea in china and the biscuits in India these days and chocolate cadburys style in Poland and the Guiness is brewed in Africa.. next to the special brew factory.. what a world .. see u tomorrow ish ..
  • #380,538
  • Jun 5, 2014 9:31am Jun 5, 2014 9:31am
Attached Image (click to enlarge)
Click to Enlarge Name: week5.png Size: 101 KB

it just hit 61% fib on the weekly ???? it major resistance too
  • #380,539
  • Jun 5, 2014 9:38am Jun 5, 2014 9:38am
+48 - 30 locked in and resistance hit for reaction. If she takes out this support I'll take my bootie and go home.

EDIT: If not, we "likely" have a new little range forming.
Attached Image (click to enlarge)
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Ghost Rider - WWTBMD?
  • #380,540
  • Jun 5, 2014 9:40am Jun 5, 2014 9:40am
Quoting elbert3
{image} it just hit 61% fib on the weekly ???? it major resistance too
23 pip resistance in a flash if it move a lot then 4 hour trend sort is back on
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