Cable Update (GBPUSD) | Page 19416 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #388,301
  • Jul 22, 2014 12:44pm Jul 22, 2014 12:44pm
Quoting Davit
{quote} There is no higher probability one event PA going lower from current level then going lower lot more from 7143 I thought to share basic probability here. Regards
Its just some numbers I write down while I watch the PA, they mean something just to me and mostly they get hit. For example when we went down to 1.68 from 1.7, I had 1.6920 written down and before the fall towards 1.67 continued, 6920 was hit to the pip. Sometimes it works, sometimes it doesn't, for my own good feeling, I wait for the number and if it isn't hit, I know there is a big probability it will get hit on the way back. If its not hit before going towards 1.69, I will feel more confident longing from there.
Everyone can see the chart, but only a few can actually read it.
  • #388,302
  • Jul 22, 2014 12:44pm Jul 22, 2014 12:44pm
Hourly resistance is 1.7069.

Booked my profits at 1.7063.

Now let us wait and see until 4.30 am tomorrow in this pair.
Intraday only.
  • #388,303
  • Jul 22, 2014 12:46pm Jul 22, 2014 12:46pm
PA is below my Wave all still red. RSI WR% did not break 50 hence Bear forces still in control.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD.H4.png Size: 54 KB
In trading, you have to be defensive and aggressive at the same time
  • #388,304
  • Jul 22, 2014 12:47pm Jul 22, 2014 12:47pm
Quoting Davit
{quote} There is no higher probability one event PA going lower from current level then going lower lot more from 7143 I thought to share basic probability here.People fixated on specific numbers to have PA do something is unnatural way to approach market. Natural way to approach is Price can do anything at any time.Your edge whatever that is putting odds in your favor one event happening more then another over series of trades.This concept flies over most new traders. Regards
I dont quite agree......some things are more likely to happen at / after certain places........
  • #388,305
  • Jul 22, 2014 12:47pm Jul 22, 2014 12:47pm
Quoting albchr
I don't care if we've had 30 bearish weeks in a row. If PA is saying down, I'm short.
After 30 weeks, I wouldn't, but its just me and I just posted some interresting statistics, thats all. If I see something I didn't see in 1 year and a half, it catches my attention. Long term, statistics always work out one way or another and everything has to even out to the median.
Everyone can see the chart, but only a few can actually read it.
  • #388,306
  • Jul 22, 2014 12:50pm Jul 22, 2014 12:50pm
Quoting albchr
{quote} .. Really?? No matter what the charts say? Maybe you should close the charts and use a calculator then. 16 days (plus today so far) of bearish price action tells me quite a bit more than "statistics" ever will. I know we're still in a technical bull trend. I know you are Firmly a bull in this trend. Not saying this one has but trends DO end. But dude, seriously, everything you'll ever need to know is in the charts. Now, can some talking head or data print come out and blow this puppy to 7300+? Sure. But neither the charts nor statistics...
In trading, you have to be defensive and aggressive at the same time
  • #388,307
  • Jul 22, 2014 12:50pm Jul 22, 2014 12:50pm
Quoting cspip
{quote} I dont quite agree......some things are more likely to happen at / after certain places........
Price mostly comes back to important numbers. Well, at least it did the last 2 years I was watching the market almost daily.
Everyone can see the chart, but only a few can actually read it.
  • #388,308
  • Jul 22, 2014 12:54pm Jul 22, 2014 12:54pm
Quoting albchr
Now, can some talking head or data print come out and blow this puppy to 7300+? Sure. But neither the charts nor statistics will EVER show that.
I think nothing in this market is random, everything is predetermined and the news are only being used to accelerate the price.
Everyone can see the chart, but only a few can actually read it.
  • #388,309
  • Jul 22, 2014 12:54pm Jul 22, 2014 12:54pm
Final target for GU 1.6905, NO REVERSAL before that
A good trader follows his rules, but great trader knows when to break them
  • #388,310
  • Jul 22, 2014 12:55pm Jul 22, 2014 12:55pm
Quoting cspip
{quote} I dont quite agree......some things are more likely to happen at / after certain places........
I think you should read my post again.
There was a trader on EU thread kept saying 'I am not shorting EU until price hits 1.4020
Price hit 3995 something like that and I was heavy short and this guy missed 400pip drop because he was waiting for 20 pips
In trading, you have to be defensive and aggressive at the same time
  • #388,311
  • Jul 22, 2014 12:55pm Jul 22, 2014 12:55pm
Quoting navk
Hourly resistance is 1.7069. Booked my profits at 1.7063. Now let us wait and see until 4.30 am tomorrow in this pair.
Nicely done
Ghost Rider - WWTBMD?
  • #388,312
  • Jul 22, 2014 12:57pm Jul 22, 2014 12:57pm
Quoting Davit
{quote}
Ghost Rider - WWTBMD?
  • #388,313
  • Jul 22, 2014 12:57pm Jul 22, 2014 12:57pm
Quoting Davit
{quote} I think you should read my post again. There was a trader on EU thread kept saying 'I am not shorting EU until price hits 1.4020 Price hit 3995 something like that and I was heavy short and this guy missed 400pip drop because he was waiting for 20 pips
But thats completely different, because he was waiting for a number that wasn't hit in ages. I'm talking about numbers being hit recently and I simply want the PA to come back to them for confirmation. I don't like just shorting because we go down and longing when we go up. Or even worse, doing the opposite and waiting/hoping for a reversal.
Everyone can see the chart, but only a few can actually read it.
  • #388,314
  • Jul 22, 2014 12:58pm Jul 22, 2014 12:58pm
  •  EDG
  • | Joined Feb 2007 | Status: Nothing is fixed. Keep an open mind | 229 Posts
I reckon every trader has his/her own view of the mkt and if their method of trading is profitable for them..then doesnt really matter how one analyse the mkt....since the bottom line is being profitable. ...i think all views shld be respected..
Hindsight is useless if you never learn anything out from it
  • #388,315
  • Jul 22, 2014 1:03pm Jul 22, 2014 1:03pm
For a second I thought I was seeing double here. Was thinking maybe I needed a .... MMMMMM........BEER. LOL

Not making fun guys. It's just the first time I noticed this (which says something about me I guess.. ) ...

I was like, am I seeing two sides of the same face here ?? ... ... lol
Attached Images
Ghost Rider - WWTBMD?
  • #388,316
  • Edited 1:32pm Jul 22, 2014 1:06pm | Edited 1:32pm
Quoting Davit
{quote} I think you should read my post again. There was a trader on EU thread kept saying 'I am not shorting EU until price hits 1.4020 Price hit 3995 something like that and I was heavy short and this guy missed 400pip drop because he was waiting for 20 pips
Well thats him and this is me
  • #388,317
  • Jul 22, 2014 1:07pm Jul 22, 2014 1:07pm
Quoting navk
Hourly resistance is 1.7069. Booked my profits at 1.7063. Now let us wait and see until 4.30 am tomorrow in this pair.
Congrats!
  • #388,318
  • Jul 22, 2014 1:08pm Jul 22, 2014 1:08pm
Quoting albchr
For a second I thought I was seeing double here. Was thinking maybe I needed a .... MMMMMM........BEER. LOL Not making fun guys. It's just the first time I noticed this (which says something about me I guess.. ) ... I was like, am I seeing two sides of the same face here ?? ... ... lol {image} {image}
I had to do a double take a couple of times with these two also.
  • #388,319
  • Jul 22, 2014 1:09pm Jul 22, 2014 1:09pm
Quoting EDG
I reckon every trader has his/her own view of the mkt and if their method of trading is profitable for them..then doesnt really matter how one analyse the mkt....since the bottom line is being profitable. ...i think all views shld be respected..
Absolutely! ... There really are so many ways to trade this market. It's why I never pick on another or their method. I may question it in an effort to learn more for myself and in the end I may dismiss it as "not for me" but not as "it's no good" Well said and so true. ....
Ghost Rider - WWTBMD?
  • #388,320
  • Jul 22, 2014 1:10pm Jul 22, 2014 1:10pm
Quoting albchr
For a second I thought I was seeing double here. Was thinking maybe I needed a .... MMMMMM........BEER. LOL Not making fun guys. It's just the first time I noticed this (which says something about me I guess.. ) ... I was like, am I seeing two sides of the same face here ?? ... ... lol {image} {image}
Thats Homer J. Simpson..........I'm Homer Simpson
1,020 traders viewing now