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Cable Update (GBPUSD)

  • #424,981
  • Feb 22, 2016 6:43pm Feb 22, 2016 6:43pm
Looking to play the long side around 1.41 tonight, but not ruling out the possibility of a slide to 1.4...

That might have been just a temporary wave of buyers and short covering that hit because of new lows, and nothing sustainable.
"Don't fear a bubble until it starts to burst."
  • #424,982
  • Feb 22, 2016 6:51pm Feb 22, 2016 6:51pm
200 points for a half-day
not rise to close the gap
technical analysis is sometimes completely useless
  • #424,983
  • Feb 22, 2016 6:58pm Feb 22, 2016 6:58pm
Quoting AlSmirnoff
200 points for a half-day not rise to close the gap technical analysis is sometimes completely useless
Agree. Technical analysis is only half of the whole analysis
HumbleTraders
  • #424,984
  • Feb 22, 2016 7:47pm Feb 22, 2016 7:47pm
Personally I use fundamentals to determine if I should trade - with technical to determine where ie - a decent pullback, candlesticks, pattern recognition- double bottoms etc...
  • #424,985
  • Feb 22, 2016 8:52pm Feb 22, 2016 8:52pm
#GBPUSD On the sideline watching pound for now..... PA is below 2x1 so I'm staying away from it for now.... it has not closed below 1-21-16 =1.4079
Low yet..... but does not mean it cant happen.... 2-24-16 could shake the cage for pound, so in the mean time it could go sideways in a range and pop or drop on the 24th...... that is the next price and time date i will be watching....
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"W. D. Gann said that time is the most important factor among all things."
  • #424,986
  • Feb 22, 2016 9:51pm Feb 22, 2016 9:51pm
What's rather hilarious is that most people who use technical analysis do not even understand what it is they are analyzing.

All your are analyzing is the composite emotion levels of the participants. Well, the price movement actually is a derivative of emotions which are commonly driven by feedbacks between emotions and price movement. But, things like central bank announcements, comments by the Mayor of London, etc... These can all drive crowd emotions too.

You don't really need technical analysis if you are really good at quantifying your own emotion levels perfectly, and your emotions are at least 85%+ correlated with the average person in the crowd(market).

Attached Image (click to enlarge)
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"Don't fear a bubble until it starts to burst."
  • #424,987
  • Feb 22, 2016 10:00pm Feb 22, 2016 10:00pm
There is only one other thing that is real in the markets besides just the waves of emotion flowing around... And being triggered by events, influential people, etc...

Order pockets which build up at swing highs and swing lows, even numbers, etc... These are real. Besides that... The rest is just tea leaves.
"Don't fear a bubble until it starts to burst."
  • #424,988
  • Feb 22, 2016 10:05pm Feb 22, 2016 10:05pm
Quoting edyraper
{quote} 45 ish retrace wouldn't be surprise before 4037 voids if 4037 get's hit bought 4072 SL 4036 if got S/O will try at 3857 nothing else to do at these levels ...{image}

Quoting edyraper
{quote} nice bounce on cable ... looking to close %50
looking for bids at 4072 , 4053 ,4044 without 4034-

on a larger scale it has possible 2000 pips bounce(1.41ish atm) , ... one should be runner later after ,
regards ....
  • #424,989
  • Feb 22, 2016 10:12pm Feb 22, 2016 10:12pm
There is only one question for tonight... Has the sentiment of the bulls recovered enough that we can bid up the market in a explosive rally of speculative euphoria, or is everyone still feeling demoralized?

Studies show that people have to be in a positive mood to aggressively bid prices up in a market into a real bubble. Even just watching a James bond movie can trigger it in a experimental market with test participants.

However, in the real world... Sentiment is heavily influenced by many things.
"Don't fear a bubble until it starts to burst."
  • #424,990
  • Feb 22, 2016 10:29pm Feb 22, 2016 10:29pm
Quoting edyraper
{quote} already long EU too looking for 1050ish to close half (covering stops) ... let's see ...
TP x1 1060 , making SL + ... if s/o looking for 096x for longs ... 125x is normal retrace though bears have a chance to short 125x/136x later ...
  • #424,991
  • Feb 22, 2016 10:32pm Feb 22, 2016 10:32pm
Quoting meanvel
There is only one other thing that is real in the markets besides just the waves of emotion flowing around... And being triggered by events, influential people, etc... Order pockets which build up at swing highs and swing lows, even numbers, etc... These are real. Besides that... The rest is just tea leaves.
Yea , the same ones that told you it would be many months before we was at these levels again, and the ones that told you it was going to 1.49 ya da ya da, dont matter what you use the market never does quite what is expected , dont matter what you use as long as you figure out how to use it to profit more than you lose.. The only real thing is it moves , it gets bought it gets sold , your order pockets get placed then removed no different than anything else , they may be there they may not . If they where better than tea leaves we would be at 1.49 , instead of where we wasent gonna be for many months.
  • #424,992
  • Feb 22, 2016 10:39pm Feb 22, 2016 10:39pm
Quoting meanvel
There is only one question for tonight... Has the sentiment of the bulls recovered enough that we can bid up the market in a explosive rally of speculative euphoria, or is everyone still feeling demoralized? Studies show that people have to be in a positive mood to aggressively bid prices up in a market into a real bubble. Even just watching a James bond movie can trigger it in a experimental market with test participants. However, in the real world... Sentiment is heavily influenced by many things.
Yea I believe it has , may take it bit to get rolling but a whack of the weekly pivot by the end of the week,, another- tea leave, would close the gap another tea leave that seems to get emotions rolling.
  • #424,993
  • Feb 22, 2016 10:40pm Feb 22, 2016 10:40pm
Quoting meanvel
There is only one question for tonight... Has the sentiment of the bulls recovered enough that we can bid up the market in a explosive rally of speculative euphoria, or is everyone still feeling demoralized? Studies show that people have to be in a positive mood to aggressively bid prices up in a market into a real bubble. Even just watching a James bond movie can trigger it in a experimental market with test participants. However, in the real world... Sentiment is heavily influenced by many things.
Your a paid Troll Mikey - created to disrupt the flow from real traders here a person who cannot put up a single trade live because ..
i feel for you buddy and wish i could help you but sometimes thats just the way its supposed to be ..your the kid in the library the one who makes all the noise - the kid who sits in the class and makes up stories as he does not understand - the loner who does not fit in anywhere - if i can help you Mikey they just pm me ok.
  • #424,994
  • Feb 22, 2016 10:46pm Feb 22, 2016 10:46pm
Of all the Tea Leaves... You know the one that is for sure the most important? Whether or not price is above or below short term averages, and if those averages are rising.

Bulls rarely get all that excited unless price is above average and those averages are rising.

It doesn't matter if they are using moving averages or not, people just need to perceive prices as rising, and linearly extrapolate that out into higher pries... Then you can get explosive rallies!

Price being above the weekly pivot generating excitement has nothing to do with the weekly pivot... It just has to do with price being above that point causing a perception of a rising pattern.
"Don't fear a bubble until it starts to burst."
  • #424,995
  • Feb 22, 2016 11:01pm Feb 22, 2016 11:01pm
Quoting meanvel
Of all the Tea Leaves... Price being above the weekly pivot generating excitement has nothing to do with the weekly pivot... It just has to do with price being above that point causing a perception of a rising pattern.
You mean it's NOT the weekly pivot lifting price?? It's actually the traders seeing price above the weekly pivot that lifts price through buying??

Wow man, you're awesome, love the literature, providing NEW INSIGHT EVERYDAY..., honestly you're a geneous

Don't go anywhere bro, you are providing me with just the right level of comedy relief after a rather stressful weekend
Come with me if you want to live....
  • #424,996
  • Feb 22, 2016 11:04pm Feb 22, 2016 11:04pm
Quoting meanvel
Looking to play the long side around 1.41 tonight, but not ruling out the possibility of a slide to 1.4... That might have been just a temporary wave of buyers and short covering that hit because of new lows, and nothing sustainable.
This is why your not placing trades - you say so yourself even .. look at your quote its simple ..

Looking to play the long side around 1.41 says Mikey - yes your looking to and being vauge with the price whats around lol

but not - yes this we already know Mikey of course your not going too.

ruling out the possibility - yes you are and have (see no trade).

That might have been just a temporary wave of buyers and short covering that hit because of new lows trying to hide - usual Mikey after the fact thoughts

nothing sustainable - of course Mikey thats exaclty the point here.

Laters Dude have some trading too do and i really do wish you all the luck in the world Mikey - be cool Bud and green pips ..
  • #424,997
  • Feb 22, 2016 11:06pm Feb 22, 2016 11:06pm
Taking long in GU AT 4118. Stop just below 4100
Intraday only.
  • #424,998
  • Feb 22, 2016 11:06pm Feb 22, 2016 11:06pm
It's just the perception of rising prices generating the price to price feedback. It just happens that when price rises above the weekly pivot, it's generally higher than most recent prior prices... And that makes people excitedly bid prices up during rallies.

If I bid price up two pips, then you get excited and bid it up another pip, and someone else gets excited and bids it up another pip... That is simple price to price feedback.

Quoting Ill-b-back
{quote} You mean it's NOT the weekly pivot lifting price?? It's actually the traders seeing price above the weekly pivot that lifts price through buying?? Wow man , you're awesome, love the literature... Don't go anywhere bro, you are providing me with just the right level of comedy relief after a rather stressful weekend
"Don't fear a bubble until it starts to burst."
  • #424,999
  • Feb 22, 2016 11:09pm Feb 22, 2016 11:09pm
You think news today will push GU up or down?
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #425,000
  • Feb 22, 2016 11:12pm Feb 22, 2016 11:12pm
Quoting meanvel
It's just the perception of rising prices generating the price to price feedback. It just happens that when price rises above the weekly pivot, it's generally higher than most recent prior prices... And that makes people excitedly bid prices up during rallies. If I bid price up two pips, then you get excited and bid it up another pip, and someone else gets excited and bids it up another pip... That is simple price to price feedback. {quote}
t

That's right, it's not the weekly pivot on our screen doing all the heavy lifting work after all, it's traders watching price, then pressing the buy button that lifts price further as they see the pivot broken.

Thanks, I'm glad that's all cleared up now
Come with me if you want to live....
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