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Cable Update (GBPUSD)

  • #413,521
  • Apr 16, 2015 3:41pm Apr 16, 2015 3:41pm
Quoting Bones
cool I hope we are cool {quote}
Yes dude, we are cool

I need to calm the fk down
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  • #413,522
  • Apr 16, 2015 3:42pm Apr 16, 2015 3:42pm
its only the body isn't it ,



Quoting Ill-b-back
{quote} Yes dude, we are cool I need to calm the fk down
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  • #413,523
  • Apr 16, 2015 3:45pm Apr 16, 2015 3:45pm
Quoting Bones
its only the body isn't it , {quote} {image}
I was looking at the wrong spot.
Ok, but what is def of bullish engulfing?
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  • #413,524
  • Apr 16, 2015 3:46pm Apr 16, 2015 3:46pm
bodies but your right in saying outside is much better


Quoting Ill-b-back
{quote} I was looking at the wrong spot. Ok, but what is def of bullish engulfing?
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  • #413,525
  • Apr 16, 2015 3:47pm Apr 16, 2015 3:47pm
that ones cute tho don't know if I could call it like him there


Quoting Bones
its only the body isn't it , {quote} {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #413,526
  • Apr 16, 2015 3:49pm Apr 16, 2015 3:49pm
Quoting Bones
bodies but your right in saying outside is much better {quote} {image}
yeah you're right, just looked around, most talk about opens and closes.

Cheers thanks
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  • #413,527
  • Apr 16, 2015 3:50pm Apr 16, 2015 3:50pm
Quoting Ill-b-back
{quote} By the way, my lines are not arbitrary, far from it
OK, then please explain ? Which candle tops and bottoms do u connect etc., maybe we can learn ?
  • #413,528
  • Apr 16, 2015 3:54pm Apr 16, 2015 3:54pm
you know I prefer to go by Hussin more than any book anyway , some real world stuff , think I've only ever read a couple candle books , then just what I notice over time



Quoting Ill-b-back
{quote} yeah you're right, just looked around, most talk about opens and closes. Cheers thanks
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #413,529
  • Apr 16, 2015 3:55pm Apr 16, 2015 3:55pm
Quoting Ill-b-back
{quote} EDIT: I only have an $800 account so I think a $1K daily income is some way off. yes of course I trade, I have been trading on and off since 2008. I posted a trade recently in euro thread. Can I explain why I draw lines in such a way to match my comments??? That's an odd question. If my lines didn't match my comments it would be confusing wouldn't it? I agree, R/S are very important and if you take the time to study the recent charts I have posted in the Euro, EG, NZ and this thread, you will see I use Fibonacci on larger monthly timescales...
OK, so your analysis is based on the daily TF, do u take into account fundamentals ? Coz if u work on DTFs then a piece of news like slower US recovery can affect levels, for example, I thought that cable would never reach 1.495x but it has, the same applies to USDCAD. I guess I am saved by the fact that I do 1H and 4H only.

As for Your comments match your charts, that was a bit of humor, u missed though, I meant u were curve fitting your lines to match what u believe in, don't worry, a a lot of us fall into that sometimes, u believe that cable will go up subconsciously and u start explaining it to yourself via technical analysis, I personally have fallen victim to that in the past and it cost me money, so I try to curb my enthusiasm which takes a lot of power.

Thanks for sharing.
Cheers
  • #413,530
  • Apr 16, 2015 4:08pm Apr 16, 2015 4:08pm
this is an engulfing by anyone's standard after previous off major res ,it could change but bearish it will be imo
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  • #413,531
  • Apr 16, 2015 4:14pm Apr 16, 2015 4:14pm
Quoting Tradezilla
{quote} OK, then please explain ? Which candle tops and bottoms do u connect etc., maybe we can learn ?
Which candle tops and bottoms do I connect?

In which example?

I look to see the trend, then use fibs on higher and lower TF's, /S/R to determine entries and projections.

It is very hard to put in words, but essentially I have found watching weekly candle action helps me determine my action lines where I see a break and look for a retest to get in again to short, which I have been doing.

Here are examples below. Hope this helps
Attached Image(s) (click to enlarge)
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  • #413,532
  • Apr 16, 2015 4:15pm Apr 16, 2015 4:15pm
Quoting Tradezilla
{quote} OK, so your analysis is based on the daily TF, do u take into account fundamentals ? Coz if u work on DTFs then a piece of news like slower US recovery can affect levels, for example, I thought that cable would never reach 1.495x but it has, the same applies to USDCAD. I guess I am saved by the fact that I do 1H and 4H only. As for Your comments match your charts, that was a bit of humor, u missed though, I meant u were curve fitting your lines to match what u believe in, don't worry, a a lot of us fall into that sometimes,...
No, most analysis is based on weekly TF.
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  • #413,533
  • Apr 16, 2015 4:16pm Apr 16, 2015 4:16pm
I've got to go, youngest 1st B'day tomorrow and we are very busy preparing and still trying to have Breakfast.

All the best
Come with me if you want to live....
  • #413,534
  • Apr 16, 2015 4:45pm Apr 16, 2015 4:45pm
Quoting Tradezilla
{quote} OK, so your analysis is based on the daily TF, do u take into account fundamentals ? Coz if u work on DTFs then a piece of news like slower US recovery can affect levels, for example, I thought that cable would never reach 1.495x but it has, the same applies to USDCAD. I guess I am saved by the fact that I do 1H and 4H only. As for Your comments match your charts, that was a bit of humor, u missed though, I meant u were curve fitting your lines to match what u believe in, don't worry, a a lot of us fall into that sometimes, u believe that...
Yes I consider Fundies but only macro stuff as I look at weekly TF.
I consider macro Fundies of both pairs involved.
Mainly kept in back of my mind and I listen to some posters in the news section who I respect for guidance here.
But mainly charts
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  • #413,535
  • Apr 16, 2015 5:10pm Apr 16, 2015 5:10pm
Quoting Tradezilla
{quote} OK, so your analysis is based on the daily TF, do u take into account fundamentals ? Coz if u work on DTFs then a piece of news like slower US recovery can affect levels, for example, I thought that cable would never reach 1.495x but it has, the same applies to USDCAD. I guess I am saved by the fact that I do 1H and 4H only. As for Your comments match your charts, that was a bit of humor, u missed though, I meant u were curve fitting your lines to match what u believe in, don't worry, a a lot of us fall into that sometimes, u believe that...
I usually find my TL or break lines coincide with S/R - Fib areas so there is no need for curb fitting.
You may not agree with my pitchfork and break line rationale but don't assume I pull them out of thin air.
When I see a clear reversal break of important S/R with aggressive candle action, (Preferably off important S/R) that's when I change my bias. Until then I go with the flow trading retraces against the trend as demonstrated for good R/R trades edging my way towards projected longer term target, taking profit as I go.
I try to keep it simple like this.
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  • #413,536
  • Apr 16, 2015 6:36pm Apr 16, 2015 6:36pm
macro = short
fundemental = short
technical = short

no need for any fuss.

sell from top, wait.
  • #413,537
  • Apr 16, 2015 6:37pm Apr 16, 2015 6:37pm
Quoting Idkurv
{quote} 1.495...
Hit
  • #413,538
  • Apr 16, 2015 7:14pm Apr 16, 2015 7:14pm
Reload long gcad tp 1.832 1.835.
Will see.
  • #413,539
  • Edited 11:06pm Apr 16, 2015 10:55pm | Edited 11:06pm
Quoting openyoureyes
macro = short fundemental = short technical = short no need for any fuss. sell from top, wait.
Morning i was just going to say are we now buying dips ????? possible short to the lines below
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the x was yesterday entry which stopped the short ,,
  • #413,540
  • Apr 16, 2015 11:06pm Apr 16, 2015 11:06pm
if retail trader short, big player will long. supply and demand.
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