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Cable Update (GBPUSD)

  • #424,261
  • Feb 16, 2016 9:26pm Feb 16, 2016 9:26pm
Quoting meanvel
{quote} Only currency markets... Equities indices are generally are always secular bulls and commodities are mostly secular bears.
yes, I was thinking of currencies, it's all I trade
Come with me if you want to live....
  • #424,262
  • Feb 16, 2016 9:30pm Feb 16, 2016 9:30pm
Eg. Market spend 3 weeks falling and covers 1000 pips then 3 weeks rising covering 300 pips then 2 weeks falling covering 500 pips then 2 weeks rising covering 200 pips.
Same time rising and falling but not ranging
Come with me if you want to live....
  • #424,263
  • Feb 16, 2016 9:40pm Feb 16, 2016 9:40pm
Quoting Ill-b-back
Eg. Market spend 3 weeks falling and covers 1000 pips then 3 weeks rising covering 300 pips then 2 weeks falling covering 500 pips then 2 weeks rising covering 200 pips. Same time rising and falling but not ranging
The time equivalency thing is strange when it comes to trends, you would normally think a market would spend more time falling than rising in a downtrend, but most of the time people are more excited and frenzied about the prices in the direction of trend, which causes price movement up/down to be more close to time equivalent in most trends...
"Don't fear a bubble until it starts to burst."
  • #424,264
  • Feb 16, 2016 9:44pm Feb 16, 2016 9:44pm
Quoting Bones
what were looking at is that swing low may 2010 ,price just spent 8 hours on a possible tl ,price would have to move up first few hours of new day ,away from support ,to build confidence {image} {image} {image}

Hey Bones,

Already had chart, but took a look at your scenario. If repeats, I do not think your idea has to die with tl to be the same. I look monthly candle, can be done still. Tomorrow a good day for it.
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The world you desire can be won. It exists.. it is real.. it is possible..
  • #424,265
  • Feb 16, 2016 9:45pm Feb 16, 2016 9:45pm
I'm talking a short for a 200 pips target.

Regards
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  • #424,266
  • Feb 16, 2016 9:54pm Feb 16, 2016 9:54pm
might going to fall again another 100pip ?
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1 simple mistake makes you become 1000x better.
  • #424,267
  • Feb 16, 2016 10:04pm Feb 16, 2016 10:04pm
Quoting oswell
might going to fall again another 100pip ? {image}
The market is forming on hell of a flag... Well, I wouldn't call it a bear flag. I just call those volatility compressions. Same thing fundamentally as a triangle pattern.

The market can break out of them very violently, but if I was going to put my money on something... I would bet on a megaphone out of the EU open.
"Don't fear a bubble until it starts to burst."
  • #424,268
  • Edited 10:58pm Feb 16, 2016 10:47pm | Edited 10:58pm
Quoting Ill-b-back
{quote} yes, I was thinking of currencies, it's all I trade
I was just thinking... Right now, if you strictly believed in T-Theory... Or a modified version of the theory like I do. You would not bother to buy any GU for two more weeks of trading, because it shouldn't be able to establish an uptrend until that much time passes.

I was just looking over the price action, and except for the strongest trending areas, the market has moved up/down with equivalent durations... If we assume that trend is close to sideways right now, like I do. There should be time mirroring again.

But anyway, I don't care... Market just needs to crash down through 1.4240 and we will have decent rallies again for sure.

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"Don't fear a bubble until it starts to burst."
  • #424,269
  • Feb 16, 2016 10:52pm Feb 16, 2016 10:52pm
  •  turnfx
  • | Joined Dec 2014 | Status: Only money management is the key of | 334 Posts
yes it will go lower
  • #424,270
  • Feb 16, 2016 11:19pm Feb 16, 2016 11:19pm
Lot of heavy impact economic data this week... Only one real market mover though. US CPI Data on Friday.
"Don't fear a bubble until it starts to burst."
  • #424,271
  • Feb 16, 2016 11:43pm Feb 16, 2016 11:43pm
thanks Scott ,no I would agree ,but then could take more time ,as long as low remains


Quoting Mr. Scott
{quote} Hey Bones, Already had chart, but took a look at your scenario. If repeats, I do not think your idea has to die with tl to be the same. I look monthly candle, can be done still. Tomorrow a good day for it. {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #424,272
  • Feb 17, 2016 12:03am Feb 17, 2016 12:03am
Quoting Ill-b-back
Eg. Market spend 3 weeks falling and covers 1000 pips then 3 weeks rising covering 300 pips then 2 weeks falling covering 500 pips then 2 weeks rising covering 200 pips. Same time rising and falling but not ranging
The bears and the bulls / smoke and mirrors
Attached Image
  • #424,273
  • Feb 17, 2016 12:05am Feb 17, 2016 12:05am
trendline still intact but fib 61.8 seems to be resistance for now
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persistence and determination alone are omnipotent
  • #424,274
  • Feb 17, 2016 12:19am Feb 17, 2016 12:19am
You know I had to tweak my realized volatility formula for the GU a couple days ago because the off-hours volatility is so low compared to the other pairs. I wasn't measuring price pressure accurately.

EU markets have to be open before the GBP/USD really gets on the move most all of the time.
"Don't fear a bubble until it starts to burst."
  • #424,275
  • Feb 17, 2016 12:45am Feb 17, 2016 12:45am
going to drop now ?
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1 simple mistake makes you become 1000x better.
  • #424,276
  • Feb 17, 2016 1:12am Feb 17, 2016 1:12am
Quoting oswell
going to drop now ? {image}
Bears drove for the stops, and that mini-crash attracted some additional sellers, and caused a little panic attack in some weak hand bulls who puked out.

Just read the tape.

LoL, I hate to say it, but people being impatient and buying GU without allowing the market to settle out and establish a bottoming pattern really deserved that right there. Well, actually, they deserve being driven down through the 1.4240 order pocket, but that may still be in the cards on the Claimant Count Change, PPI Data, or FOMC Data. So much data today...
"Don't fear a bubble until it starts to burst."
  • #424,277
  • Feb 17, 2016 1:19am Feb 17, 2016 1:19am
Quoting meanvel
{quote} Bears drove for the stops, and that mini-crash attracted some additional sellers, and caused a little panic attack in some weak hand bulls who puked out. Just read the tape. LoL, I hate to say it, but people being impatient and buying GU without allowing the market to settle out and establish a bottoming pattern really deserved that right there. Well, actually, they deserve being driven down through the 1.4240 order pocket, but that may still be in the cards on the Claimant Count Change, PPI Data, or FOMC Data. So much data today...
Seriously dude, you are over- complicating things. Trading is not that complicated. Keep it simple my friend.
  • #424,278
  • Feb 17, 2016 1:31am Feb 17, 2016 1:31am
Quoting slk
{quote} Seriously dude, you are over- complicating things. Trading is not that complicated. Keep it simple my friend.
I'm not complicating anything. I was just explaining to him what happened there.

We don't have any confirmation of real sellers coming in, yet...
"Don't fear a bubble until it starts to burst."
  • #424,279
  • Feb 17, 2016 1:35am Feb 17, 2016 1:35am
Quoting meanvel
{quote} I'm not complicating anything. I was just explaining to him what happened there. We don't have any confirmation of real sellers coming in, yet...
Are you kidding me? Price has dropped from 1.45 all the way to 1.4250, 250 pips no real sellers? So please enlighten me, what is the definition of real sellers?
  • #424,280
  • Feb 17, 2016 1:41am Feb 17, 2016 1:41am
Quoting Squiggles
{quote} The bears and the bulls / smoke and mirrors {image}

Short with me for the long haul Siir?
Come with me if you want to live....
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