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Cable Update (GBPUSD)

  • #430,101
  • Apr 29, 2016 2:56pm Apr 29, 2016 2:56pm
Quoting falconz13
Where is elbert? Any option expired today?
http://www.forexfactory.com/attachment.php?attachmentid=1914385&d=1461704779
there you go last posted charts .see the weekly chart to ,regards
  • #430,102
  • Apr 29, 2016 4:11pm Apr 29, 2016 4:11pm
look to the past ,more power to
bearish petrifying harami pattern

http://www.forexfactory.com/showthre...85#post2335785
http://www.forexfactory.com/showthre...65#post2538665
Attached Image(s) (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #430,103
  • Apr 29, 2016 4:29pm Apr 29, 2016 4:29pm
couldn't disagree more ,

Quoting dean1star
{quote} The problem with this however is that people come here in need and will take any advice given in they feel it will improve their trading or help with their system creation - what they dont realise but usually do in time is that there is no one here CAPS ON - NO ONE here who is either credible or savy enough with their trading skills to offer advice - now people will say hey your so wrong on this - however when time does the telling the facts will always speak for themselves.. Reminds me of the guy the other week who says he can...
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #430,104
  • Apr 29, 2016 4:37pm Apr 29, 2016 4:37pm
just posted this lot in my bosses thread http://www.forexfactory.com/showthre...40420&page=232
http://www.forexfactory.com/showthre...59#post8901059
  • #430,105
  • Apr 29, 2016 6:46pm Apr 29, 2016 6:46pm
Can't say I am overly convinced on a strong daily reversal here. Looking at the last 4 candles, overall price action still looks very bullish to me despite the cross.

We seem to be due for a pull back to support area, but will be watching for signs of a bounce from there up to 1.48 area for a spike into the monthly wedge, where I think it will show signs of bearish reversal.

Edit: adjusted monthly TL to weekly chart,
Attached Image(s) (click to enlarge)
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Come with me if you want to live....
  • #430,106
  • Apr 29, 2016 8:53pm Apr 29, 2016 8:53pm
Quoting Ill-b-back
Can't say I am overly convinced on a strong daily reversal here.

You need to pack it in, dude...

You're not even looking at your own charts and anybody that is, is playing counter you.

Losing every short trade you've had this week and you still can't be convinced of a bullish trend?


5 years of your life, you will never get back.

Don't let the next five be the same.

Maybe sewing or knitting will be more your forte. There's a lot of patterns in fabric, and if you spot them, you won't actually lose!

Yeah..I said I'm outa here, but just like all rubbernecks to an accident, I am still drawn to the carnage of your charts.

Let it go, dude.

Not everybody is cut out for this shit.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #430,107
  • Apr 29, 2016 9:59pm Apr 29, 2016 9:59pm
#GBPUSD last night I was up late trying to figure out if this is a bull trap, all of my analysis is confirming yes... but the price action is not in-line with my analysis...
one good thing I did knowing it was going to get wild... I traded small lots and raised my SL to 1.4700 and put a sell order @ 1.4666....

My thinking was today could be possibly a pivot high and the down turn could begin.... if not my calculations are wrong and pound put a bottom and I need to get on the right side of the trade.... Sunday action should give me clues if its going to sell off or not.... so I'm S @ 1.4666, 1.4615, 1.4592 / SL 1.4700 TP /

Date to watch are May 5,11,18 for pivot turns
Attached Image (click to enlarge)
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"W. D. Gann said that time is the most important factor among all things."
  • #430,108
  • Apr 30, 2016 2:20am Apr 30, 2016 2:20am
Hello Everyone.

Here's the newest video.

Thank you for your Feedback.

Best wishes

Inserted Video
Be careful what you think because your thoughts run your life..Solomon
  • #430,109
  • Apr 30, 2016 2:22am Apr 30, 2016 2:22am
Quoting Magix
{quote} You need to pack it in, dude... You're not even looking at your own charts and anybody that is, is playing counter you. Losing every short trade you've had this week and you still can't be convinced of a bullish trend? 5 years of your life, you will never get back. Don't let the next five be the same. Maybe sewing or knitting will be more your forte. There's a lot of patterns in fabric, and if you spot them, you won't actually lose! Yeah..I said I'm outa here, but just like all rubbernecks to an accident, I am still drawn to the carnage...
Well, that wasn't really encouraging ...
Fix up, trade sharp ...
  • #430,110
  • Apr 30, 2016 4:55am Apr 30, 2016 4:55am
Quoting Hickson
{quote} Well, that wasn't really encouraging ...

You're right, dude...

That was a little over-the-top cunty, even by my own standards.

Apologies.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #430,111
  • Apr 30, 2016 5:32am Apr 30, 2016 5:32am
Quoting Magix
{quote} You're right, dude... That was a little over-the-top cunty, even by my own standards. Apologies.
That post was better for the +1000 pip trades after the fact bullshitters.
Fix up, trade sharp ...
  • #430,112
  • Apr 30, 2016 5:59am Apr 30, 2016 5:59am
you have to look where $ is ,if it continues then trend is set ,cable is range unless we break higher ,most prob its starting a down trend ,its very oversold
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #430,113
  • Edited 6:21am Apr 30, 2016 6:09am | Edited 6:21am
cable month has proved unreliable ,
body = buying ,wick within last ,
daily top of range
the 4 month has not closed within last 4 month ,its likely to retrace
weekly below pivot and tl ,best not to ajust tl
Attached Image(s) (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #430,114
  • Apr 30, 2016 6:30am Apr 30, 2016 6:30am
you can not project price distance on low tf ,as I see ,1 hour is one hour sentiment,
all I see is its going up ,it must be going there ,if your right your lucky
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #430,115
  • Apr 30, 2016 8:09am Apr 30, 2016 8:09am
Quoting Bones
you can not project price distance on low tf ,as I see ,1 hour is one hour sentiment, all I see is its going up ,it must be going there ,if your right your lucky
Hi Tony

I respectfully have to disagree with that brother. To me, it's just that one needs to keep the "projected distance" within the scope of the TF being traded. If I'm trading the 1H then obviously I'm day trading and looking for multiple, smaller moves in one or both directions.

For example, these are a couple day trading scalps while I waited for larger moves to take shape. Traded from the 1H and lower with the distances kept in that context.

Couple shorts at the top while waiting ...
Attached Image (click to enlarge)
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.... a long scalp against the tide. All distances (TP's) from the 1H.
Attached Image (click to enlarge)
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It's the same thing with distance on the bigger scale but in that context. The next level on GJ I expected to see at least a decent retrace as noted on the 7th with this post.
http://www.forexfactory.com/showthre...56#post8861056
Attached Image (click to enlarge)
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And LO & BEHOLD? Did she ever Bounce! (I was only expecting the 50% as noted in that post) But she gave us much more!
Attached Image (click to enlarge)
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But my point is, distance projections can be made off any TF if kept in context. It's just a question of which "context" you prefer, or are trading at the time.
Ghost Rider - WWTBMD?
  • #430,116
  • Apr 30, 2016 8:14am Apr 30, 2016 8:14am
GPB/USD
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  • #430,117
  • Apr 30, 2016 8:17am Apr 30, 2016 8:17am
Quoting albchr
{quote} Hi Tony I respectfully have to disagree with that brother. To me, it's just that one needs to keep the "projected distance" within the scope of the TF being traded. If I'm trading the 1H then obviously I'm day trading and looking for multiple, smaller moves in one or both directions. For example, these are a couple day trading scalps while I waited for larger moves to take shape. Traded from the 1H and lower with the distances kept in that context. Couple shorts at the top while waiting ... {image} .... a long scalp against the tide....
GM Chris
Good point about Context.My main argument against people who always write "don't go against H4 candle" like its supposed to be holly relic.
Lot can change in 4 hours! One only has to look at UJ drop to get a reality check!
I can just imagine how many sheep got slaughtered on that one.
Finished my month at 28% gain (yes almost all are CT trades) looking forward to May.
Context of price! That's very subtle and only handful understand!Keep going friend!
regards
Attached Image (click to enlarge)
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In trading, you have to be defensive and aggressive at the same time
  • #430,118
  • Apr 30, 2016 8:27am Apr 30, 2016 8:27am
It was a great day discovering price's 'context', now, all the 'contexts' are coming clearer...whoa....but, yeh, it's not predictable or anything.....

nothing exists in the market that has an 85% chance of happening in 10 periods or anything like that....it's too random isn't it?

Look, when you know where the concrete walls are (extreme hi's/lo's) and how wide the hallway is, the walking drunk (brownian motion) can stumble all he wants from side to side randomly. He's not going to make it through concrete without a lot of other drunk guys helping....
"Holy Grail" exists - accepting where is the first step.
  • #430,119
  • Apr 30, 2016 8:31am Apr 30, 2016 8:31am
Quoting Davit
{quote} GM Chris Good point about Context.My main argument against people who always write "don't go against H4 candle" like its supposed to be holly relic. Lot can change in 4 hours! One only has to look at UJ drop to get a reality check! I can just imagine how many sheep got slaughtered on that one. Finished my month at 28% gain (yes almost all are CT trades) looking forward to May. Context of price! That's very subtle and only handful understand!Keep going friend! regards {image}
always enjoy a Davit read here...
"Holy Grail" exists - accepting where is the first step.
  • #430,120
  • Apr 30, 2016 9:51am Apr 30, 2016 9:51am
Expecting a move down.
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