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Cable Update (GBPUSD)

  • #396,601
  • Sep 5, 2014 3:46am Sep 5, 2014 3:46am
Quoting elbert3
{quote} Morning how about that chart {image} any comments or opinions ,,regards E
Weekly looks like a good place to start building longs for the bull continuation to start to 7300+
  • #396,602
  • Sep 5, 2014 3:49am Sep 5, 2014 3:49am
Quoting plukin
{quote} Well, since 6500 was lost, what is there to tell? If some "followers" can't understand that that trade ended up with loss, is he obliged to tell them.."hey, it's a loss"? Of course it is, everybody who has at least some IQ knows it.. After all people should trade their plan, so why to expect somebody to explain something that's actually obvious? He shared his approach and his make or break level. Didn't worked out this time. So what? Taking the loss and moving on to the next opportunity. Maybe he overlooked something, maybe he didn't..that's...
No, thats all fair and good....we all have loses..........its part of trading...........but, and he bought it upon himself, as the "I trade facts..." he bought it on to himself the "I challenge others..." mentality..........when he got it right, there was some cheat pounding, and mocking others who happen to get it wrong.......

.........I remember saying trading is "All Relative", no matter which timeframe you trade. Day traders take many trades a day and have more chance of being wrong so it sort of stands out.........but when someone like him only takes a trade once every 3 months and maybe gets 3 trades in a row right (achievable by most on any timeframe), he ends up being right and not wrong for 9 months............people think wow, must be brilliant, but forget that only say 6 trades where taken.......

Again the loses are all relative to the size of trade and account taken into consideration........but loses will happen......
  • #396,603
  • Sep 5, 2014 4:01am Sep 5, 2014 4:01am
Quoting yardifx
{quote} ahha you spot it.... Now draw the retrace...
look at my post about a month ago i thought we were on the way until this scottish thing came to the front,it will be no,,,you can do the next chart,lol regards
  • #396,604
  • Sep 5, 2014 4:03am Sep 5, 2014 4:03am
Quoting 2012mysterio
{quote} Weekly looks like a good place to start building longs for the bull continuation to start to 7300+
Yes it looks like consolation taking place at the 5 min,,scrum down throw the ball in and kick it home,,but whos home bulls or bears ,,lol cheers gl
  • #396,605
  • Sep 5, 2014 4:10am Sep 5, 2014 4:10am
Quoting elbert3
{quote} Morning how about that chart {image} any comments or opinions ,,regards E
Your lower trend line has no value as it joins the current price (which is dynamic) to an arbitrary point in the past. This give the false impression of a dynamic line of support. If the current price is a low, then your line of dynamic support is valid. But we don't know yet...

Having said that, I like the confluence of the 38.2% retracement and 1.63 and also maybe the red line (not sure what that is? 100ema?)

Regards
Gone to a better place
  • #396,606
  • Sep 5, 2014 4:10am Sep 5, 2014 4:10am
Quoting cspip
{quote} No, thats all fair and good....we all have loses..........its part of trading...........but, and he bought it upon himself, as the "I trade facts..." he bought it on to himself the "I challenge others..." mentality..........when he got it right, there was some cheat pounding, and mocking others who happen to get it wrong....... .........I remember saying trading is "All Relative", no matter which timeframe you trade. Day traders take many trades a day and have more chance of being wrong so it sort of stands out.........but when someone like...
Dude I'm not one to fight anyone's battle but did you read his post... He said nothing about a stop loss at 1.65.
Peace & Pips
  • #396,607
  • Sep 5, 2014 4:23am Sep 5, 2014 4:23am
Quoting elbert3
{quote} look at my post about a month ago i thought we were on the way until this scottish thing came to the front,it will be no,,,you can do the next chart,lol regards
Oh elbert I would, but prices are more important to me than charts but do like looking at how others interpret price and relay them on a chart...anyway I said a week or so ago that bad nfp is coming... I can't wait to see the results....
Ps I have now closed nzdusd for over 1000 pips gained (multiple positions)
Peace & Pips
  • #396,608
  • Sep 5, 2014 4:26am Sep 5, 2014 4:26am
hi
GBPUSD Weekly
the pair is being traded on the support line. losing this support leads to another bottom at %50 fibo around 1.6000

http://up.boursy.com/uploads/2013-10...-minWeekly.png
BE HAPPY, MAKE HAPPY.
  • #396,609
  • Sep 5, 2014 4:29am Sep 5, 2014 4:29am
do we have to do the multible postion thing adds additional pips, when I take a trade pro real time aggregates its a cool feature

Quoting YardiFX
{quote} Oh elbert I would, but prices are more important to me than charts but do like looking at how others interpret price and relay them on a chart...anyway I said a week or so ago that bad nfp is coming... I can't wait to see the results.... Ps I have now closed nzdusd for over 1000 pips gained (multiple positions)
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #396,610
  • Sep 5, 2014 4:31am Sep 5, 2014 4:31am
Quoting smikester
{quote} Your lower trend line has no value as it joins the current price (which is dynamic) to an arbitrary point in the past. This give the false impression of a dynamic line of support. If the current price is a low, then your line of dynamic support is valid. But we don't know yet... Having said that, I like the confluence of the 38.2% retracement and 1.63 and also maybe the red line (not sure what that is? 100ema?) Regards
yes right it was how about that scenario?? ,sorry i should of put that, hoping that the 38%holds blue 100 smooth i was thinking using that as it is long term ma,, but,but,we have a crossover 10 20 ema indicating shorts in play hope that clears it up,,thanks thou ,can i ask how your seeing things Regards E
  • #396,611
  • Sep 5, 2014 4:34am Sep 5, 2014 4:34am
Quoting yardifx
{quote} oh elbert i would, but prices are more important to me than charts but do like looking at how others interpret price and relay them on a chart...anyway i said a week or so ago that bad nfp is coming... I can't wait to see the results.... Ps i have now closed nzdusd for over 1000 pips gained (multiple positions)
ah well done so now i can see that is covering gbusd longs for now sustaining your acc ,,your going to be quids in at 1.820 then lol fingers crossed ,,well done ,but next time tell me ,,lol regards
  • #396,612
  • Sep 5, 2014 4:38am Sep 5, 2014 4:38am
Cant break that 200 on the 5 min standing at 6330 if it breaks then 20 pips more till next res .only my opinion
  • #396,613
  • Sep 5, 2014 4:43am Sep 5, 2014 4:43am
Quoting elbert3
{quote} ah well done so now i can see that is covering gbusd longs for now sustaining your acc ,,your going to be quids in at 1.820 then lol fingers crossed ,,well done ,but next time tell me ,,lol regards
I did though... but being a newbie to thread... no took notice initially I was waiting for 0.8450....then with milk prices falling... no more interest rate rise...I thought let me just hang on in there...davit at the time disagreed.... as I said prices mean more to me....
Peace & Pips
  • #396,614
  • Sep 5, 2014 4:43am Sep 5, 2014 4:43am
http://www.fxstreet.com/news/forex-n...0-fdc3467e1106 READING,,THEIR S/R IS NORMALLY VERY GOOD,,OFF SOON ,LAST POST GOOD LUCK ALL, HDA COME ON LETS SEE YOU,, YOU HAVE SUPPORT AS A TRADER FROM MOST OF THE GUYS HERE ,
  • #396,615
  • Sep 5, 2014 4:44am Sep 5, 2014 4:44am
very true nice chart

Quoting srt
{quote} I know it may seem the momentum is too strong for this to suddenly reverse but looking at the past, it's not completely impossible. Also, big buyers need lots of sellers to fill the orders so the best way is to get everyone thinking it's going to zero then start buying when everyone else is providing the liquidity (sellers) to fill the orders. Not saying it will this time but just a possibility. {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #396,616
  • Sep 5, 2014 4:48am Sep 5, 2014 4:48am
Quoting elbert3
{quote} off to bed 4 hours sleep then off to airport at 3 ,,,see you soon be safe, B
Aren't you supposed to be off to some nice place ??
Hear the music before the song is over ...
  • #396,617
  • Sep 5, 2014 4:58am Sep 5, 2014 4:58am
Quoting GlobalMacro
{quote} Aren't you supposed to be off to some nice place ??
morning ah,,no i did not say that,,lol not yet any way,,took daughter to airport 3am this morning,,but i am here cant get rid of me ,,lol gl today sir,,i want to see the gang in the car later good or bad,,,lol
  • #396,618
  • Sep 5, 2014 4:58am Sep 5, 2014 4:58am
Quoting cspip
{quote} No, thats all fair and good....we all have loses..........its part of trading...........but, and he bought it upon himself, as the "I trade facts..." he bought it on to himself the "I challenge others..." mentality..........when he got it right, there was some cheat pounding, and mocking others who happen to get it wrong.....
That's tricky. Everybody can say that and everybody can be right about it and wrong about it at the same time. How? We all have our own definition of what FACT is. For hda it's something, for you it might be something else, for me it might be something different as well. Honestly said, his confidence (actually my perception of it) clouded my thinking to some extent, but that's my longterm challenge and the more I am aware of it the better choices I make..trusting "my facts", what I see in the charts..more then the "facts" that others present. Be it hda or whoever else. So, I actually am grateful for him and others before, great lessons and the price was worth it as over time I get better and better, building confidence in my views, my analysis, my skills, my self.
Re "mocking others/chest pounding/making others wrong": you may see it that way, but it might be just your projection and not what he did at all. Eg. did he wrote somewhere that "xy, you are wrong because.."? I write that for I took things personally for quite a while and over time realized that it was just my point of view and not what was going on. It's like realizing you actually see the world through colored glasses and you take them off. And you start WOWing.. Personally, helps me with more unbiased chart reading.
Markets wispers, just tune in.
  • #396,619
  • Sep 5, 2014 5:04am Sep 5, 2014 5:04am
Quoting elbert3
http://www.fxstreet.com/news/forex-n...0-fdc3467e1106 reading,,their s/r is normally very good,,off soon ,last post good luck all, hda come on lets see you,, you have support as a trader from most of the guys here ,

i asked HDA before since he know every market turning point and more about options exp date he should be making million..trading is not so easy and not so hard we just need to trade our believe system, gu and eu will retrace but i will plan that for next week trade..daily weekly and monthly have not figure what the swing low should be yet until then all buy order is risky.
MY OPINION NOT FINANCIAL ADVISE
  • #396,620
  • Sep 5, 2014 5:07am Sep 5, 2014 5:07am
Quoting elbert3
{quote} yes right it was how about that scenario?? ,sorry i should of put that, hoping that the 38%holds blue 100 smooth i was thinking using that as it is long term ma,, but,but,we have a crossover 10 20 ema indicating shorts in play hope that clears it up,,thanks thou ,can i ask how your seeing things Regards E
OK, thanks. I understand. So, I agree with you. I think there will be major sellers taking profit around here, so I am expecting a small bounce. However, I would not expect major buyers to join in, given the bullish nature of the Usd, so if the NFP figures come in good, we could go off a cliff like yesterday, then maybe consolidate under 1.63 before travelling down to 1.5750/1.5700 - thereabouts.

US equities are due for some sort of correction and even if it is only modest, that could be Usd positive.

In truth, I'm not sure what will happen.
Gone to a better place
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