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Cable Update (GBPUSD)

  • #425,001
  • Feb 22, 2016 11:13pm Feb 22, 2016 11:13pm
Quoting Soros
You think news today will push GU up or down?
Inflation report hearing might cause a little chaos... They might possibly make some comments to try to bring their currency back up a bit. I wouldn't speculate on it...
"Don't fear a bubble until it starts to burst."
  • #425,002
  • Feb 22, 2016 11:15pm Feb 22, 2016 11:15pm
Quoting Ill-b-back
{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
The pivot being broken doesn't matter. What matters is that most of the prices for the time periods before the pivot break were below the pivot... Creating the perception of a rising prices. It doesn't even matter if people have pivots on their charts or not... As long as they perceive rising prices and buy aggressively because of those perceived rising prices.

Some people do technical analysis as simple as... Price is trading in the upper right of my chart, so it's rising!

Hardly anyone uses pivots in Forex...
"Don't fear a bubble until it starts to burst."
  • #425,003
  • Feb 22, 2016 11:26pm Feb 22, 2016 11:26pm
My main point is... That it doesn't matter what you have on your chart. A weekly pivot, a 7DMA moving average, a 7d median, etc... Effectively they are all the same thing.

All the technical types get excited about prices they perceive as rising, regardless of what tools, if any, they are using to confirm their perception of rising prices. Even people that don't know any technical analysis, they can still recognize if a pattern is rising or falling over time.
"Don't fear a bubble until it starts to burst."
  • #425,004
  • Feb 22, 2016 11:43pm Feb 22, 2016 11:43pm
And, this is why I use one lower formula... To monitor how emotional people are.

This is why it isn't that likely we get much of a down move today. We used up a boatload of selling pressure. Most people that were going to get short term excited about this selloff already have gotten excited and sold or shorted.

Attached Image (click to enlarge)
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"Don't fear a bubble until it starts to burst."
  • #425,005
  • Feb 22, 2016 11:50pm Feb 22, 2016 11:50pm
Quoting dean1star
{quote} 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.
I think you might be right Dean. He spends all his time in Cable thread and with the tools I have been using and watching lately regarding fibs, TLs' support/resistance confluences, Cable seems the most precise. Perhaps the banks are losing too much money to us and others and he's been sent to water down the pool of knowledge.
Come with me if you want to live....
  • #425,006
  • Feb 23, 2016 12:32am Feb 23, 2016 12:32am
Double bottom confirmed on the 15 min chart? Will there be an upward move from here? I'm fairly new here, take it easy on me if I have a novice approach to my technical analysis
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  • #425,007
  • Feb 23, 2016 12:53am Feb 23, 2016 12:53am
Good Morning !

Today's SR levels on MT4 Templates for EURO, CABLE, DAX, USDJPY & EURGBP

News :

"Currency strategists at the bank ING say the markets have yet to register the cost of the UK leaving the EU. Recent moves in the pound are more a result of the outlook for interest rates and the global economy, says ING.
In a research note entitled You aint seen nothing yet, the bank comments: The role of Brexit in steering recent pound price action can be likened to a rollercoaster warming up with some small twists and turns before an inevitable sharp drop.

Cable Chart : 1.34 is coming shortly
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FX is a Bitc*h!, No one keeps me wake all night but FX does!!
  • #425,008
  • Edited 2:15am Feb 23, 2016 12:54am | Edited 2:15am
Quoting Ill-b-back
{quote} I think you might be right Dean. He spends all his time in Cable thread and with the tools I have been using and watching lately regarding fibs, TLs' support/resistance confluences, Cable seems the most precise. Perhaps the banks are losing too much money to us and others and he's been sent to water down the pool of knowledge.


...So here is where you hide from me ah, just kidding, hope all is fine, family and all.....
The Chonchy
  • #425,009
  • Feb 23, 2016 1:14am Feb 23, 2016 1:14am
Quoting chonchy
{quote}
People in here are completely bonkers, LoL...
"Don't fear a bubble until it starts to burst."
  • #425,010
  • Feb 23, 2016 1:29am Feb 23, 2016 1:29am
Quoting Ill-b-back
{quote} I think you might be right Dean. He spends all his time in Cable thread and with the tools I have been using and watching lately regarding fibs, TLs' support/resistance confluences, Cable seems the most precise. Perhaps the banks are losing too much money to us and others and he's been sent to water down the pool of knowledge.
Shame bu there you go - he gets away with it only because the powers that be here let him its that simple - a few years ago he would have been stopped for stupidity alone for sure - its not actually his fault he cant see what it is he is doing - he's an addict its his nature in his DNA - its not a problem just more of a shame that these people appear or this happens it lowers the mental tone in here - that said nothing can be done and this he knows so he will play on this and just spam all this thoughts.

Could be a rant about james bond or mickey mouse .. its the audience he craves and this place gives it too him. Shame on them i say.
  • #425,011
  • Feb 23, 2016 1:41am Feb 23, 2016 1:41am
Quoting meanvel
{quote} People in here are completely bonkers, LoL...
In the world of comedy this is his counterpart in crime ..

www.youtube.com/watch?v=Tsl7-TJtPew

worth a watch lol
  • #425,012
  • Feb 23, 2016 1:54am Feb 23, 2016 1:54am
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.
Couple good scalps long around 1.41 so far... Hmmm... I don't really care to trade higher though... Not until the hourly trend turns.
"Don't fear a bubble until it starts to burst."
  • #425,013
  • Feb 23, 2016 2:17am Feb 23, 2016 2:17am
Quoting meanvel
{quote} People in here are completely bonkers, LoL...
...Sorry I didn't mean to intrude, I was just messing with Sir. Ill-b-back, he left me drinking alone at the other bar.....
The Chonchy
  • #425,014
  • Feb 23, 2016 2:51am Feb 23, 2016 2:51am
wow caught on either side of that spike... FML
  • #425,015
  • Feb 23, 2016 3:02am Feb 23, 2016 3:02am
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morning , i think gb needs thunderbirds on this one
  • #425,016
  • Feb 23, 2016 3:09am Feb 23, 2016 3:09am
fuck you pound. almost 3 losses this morning already
  • #425,017
  • Feb 23, 2016 3:10am Feb 23, 2016 3:10am
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if you see the chart posted last night ,got a break out on that 1st tl now testing res
  • #425,018
  • Feb 23, 2016 3:13am Feb 23, 2016 3:13am
Quoting Don96
fuck you pound. almost 3 losses this morning already
ever thought trading the euro Don .. might be slower but more simplified if your scalping that is
  • #425,019
  • Feb 23, 2016 3:15am Feb 23, 2016 3:15am
Quoting Ll1979
{quote} seem so but the chicken inside me still didn 't press the the buy button {image}
Why not? I bought @ 1.4090 with a stop below 1.4057 it is a tight risk with a high reward. Potential double bottom on the weekly chart.
  • #425,020
  • Feb 23, 2016 3:28am Feb 23, 2016 3:28am
Quoting dean1star
{quote} ever thought trading the euro Don .. might be slower but more simplified if your scalping that is
i trade euro as well, bottled it on pound yesterday and got greedy at the same time, totalled about 105 pips yesterday, did have 180 in the bad but :0 - lost 40 on pound and just got 38 back on euro so cant complain too much i suppose, just jumped the gun too quickly on pound just :s
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