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Cable Update (GBPUSD)

  • #430,121
  • Apr 30, 2016 8:45am Apr 30, 2016 8:45am
Quoting arigoldman
Expecting a move down.
correct

1.4472 / 1.4450 whichever comes first
  • #430,122
  • Apr 30, 2016 9:36am Apr 30, 2016 9:36am
Quoting Hickson
{quote} That post was better for the +1000 pip trades after the fact bullshitters.

Like I know, right?

I should totally be writing for Halmark or something.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #430,123
  • Apr 30, 2016 10:20am Apr 30, 2016 10:20am
Hey Chris I agree with you ,all I said is you can't project distance I mean long distance way in the future


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....
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #430,124
  • Apr 30, 2016 10:36am Apr 30, 2016 10:36am
Quoting Bones
Hey Chris I agree with you ,all I said is you can't project distance I mean long distance way in the future {quote}
Agreed buddy ... Too many things can happen / change in the long term. All we can do is map the likely levels and then follow price daily to see if it's getting closer to, or further away from those projections. And of course we'll never be able to project a likely price a month (or even week) from now off a 1H chart. lol

Top down ... it's the only way imho.
Ghost Rider - WWTBMD?
  • #430,125
  • Edited 10:56am Apr 30, 2016 10:39am | Edited 10:56am
I have followed up usd cad many times ,I have said any up tl ,there not going to hold ,it can only retrace
now we see 3 crows ,on the monthly ,but I am saying it could retrace now ,still I'm telling you straight it can only retrace ,till it hit s the actual tl
a solid view that can only come from higher tf
huge shooting star followed by confirmation =evening star at a top,was an easy read ,unlike cable monthly


Quoting Bones
thats a 700 pip wick to the upside ,already broke its rare for the chart ,I understand the connection to oil ,but in my mind it will go lower, {image}
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #430,126
  • Apr 30, 2016 10:39am Apr 30, 2016 10:39am
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}
Hey Davit ... Nice take for the month there buddy. I'm also looking forward to May.
Ghost Rider - WWTBMD?
  • #430,127
  • Apr 30, 2016 10:58am Apr 30, 2016 10:58am
Quoting Magix
{quote} Like I know, right? I should totally be writing for Halmark or something.
Had to look up what that is ... they are selling fancy cards?
Fix up, trade sharp ...
  • #430,128
  • Apr 30, 2016 10:58am Apr 30, 2016 10:58am
you know sometimes its clear ,somtimes I really don't think it can be changed with a very high degree of probability ,over long distance/time
like the cad ,or UJ not always which I what I try to say to Dean

Quoting albchr
{quote} Agreed buddy ... Too many things can happen / change in the long term. All we can do is map the likely levels and then follow price daily to see if it's getting closer to, or further away from those projections. And of course we'll never be able to project a likely price a month (or even week) from now off a 1H chart. lol Top down ... it's the only way imho.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #430,129
  • Apr 30, 2016 11:04am Apr 30, 2016 11:04am
Quoting Bones
you know sometimes its clear ,somtimes I really don't think it can be changed with a very high degree of probability ,over long distance like the cad ,or UJ not always which I what I try to say to Dean {quote}
Absolutely. There's a point of no return (on any TF) that once crossed, Really big things would have to happen to change it. The bigger the TF, the bigger that "thing" needs to be. LOL
Ghost Rider - WWTBMD?
  • #430,130
  • Apr 30, 2016 11:07am Apr 30, 2016 11:07am
Quoting Hickson
{quote} Had to look up what that is ... they are selling fancy cards?
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #430,131
  • Apr 30, 2016 11:12am Apr 30, 2016 11:12am
Quoting Hickson
{quote} Had to look up what that is ... they are selling fancy cards?
No Hallmark in Germany?
"Holy Grail" exists - accepting where is the first step.
  • #430,132
  • Apr 30, 2016 11:38am Apr 30, 2016 11:38am
you have to have faith in something ,
only probability
you can look other examples,a cross has meaning ,more than most
now I guess type of confirmation if so , will dictate how much



Quoting Ill-b-back
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, {image} {image} {image} {image}
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #430,133
  • Edited 12:08pm Apr 30, 2016 11:56am | Edited 12:08pm
its not possible to say I'm going to trade without reading the market somehow,forecasting it
,its not forex factory famous like a pin ,but is more trustworthy than a straight pin told by forex factory Hussin ,for me there are good traders to be learn from ,I don't agree all great traders sit in the shadows as discussed earlier ,for which I'm personally thankful
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #430,134
  • Apr 30, 2016 1:20pm Apr 30, 2016 1:20pm
Quoting Don96
Someone is missing today... I wonder why
he is back... somewhere.

sometimes I wonder if he is the both the forex version of the chuckle brothers, to short to long to short to long to short to long
  • #430,135
  • Apr 30, 2016 1:59pm Apr 30, 2016 1:59pm
Quoting Bones
you have to have faith in something , only probability you can look other examples,a cross has meaning ,more than most now I guess type of confirmation if so , will dictate how much {quote} {image}
hi Bones, yes I undestand what you say about probabililties
Come with me if you want to live....
  • #430,136
  • Apr 30, 2016 2:02pm Apr 30, 2016 2:02pm
Quoting VaBikePacker
{quote} No Hallmark in Germany?
Might be. But maybe I just never heard it because I am an introvert just interested if the price is rising or falling
Fix up, trade sharp ...
  • #430,137
  • Apr 30, 2016 5:21pm Apr 30, 2016 5:21pm
Maybe a re-cap would lend a little perspective...

Quoting Magix
Your randomly drawn trendlines are as relevant to market as monkeys flinging shit! Don't force your chart to meet with somebody elses analysis.
Quoting Ill-b-back
{quote} honestly you're an idiot. Those weekly lines above price are the monthly wedge lines. You know what a wedge is?Now enough of your rude distractions.Goodby Magix
Aight...dude likes to trade his own analysis...can't fault a brother for that, right?

UNLESS!!

Quoting Ill-b-back
{quote} yep, I'm short. If we come back to 45 tomorrow, I'll consider a long to 47. Late here, off to bed
All be it...a little late to the party, he's now going to join in on trend...even looks for another perspective:

Quoting Ill-b-back
{quote} thx very much for this. Out of interest, if we take AB to equal CD as an alternate pattern, where does that land us? Is it around 47 and change? I'm on my phone so can't measure atm. Thx
Ruffy doesn't reply, because ruffy is to Harmonics what Ill-b-back is to Trend-lines, what monkeys are to flinging feces!
But, when Mr. Scott replies...

Quoting Mr. Scott
{quote} Not sure what you need.... {image}
And shitsmudge still sees long:
Quoting Ill-b-back
Actually Ruff, yeah just got home and see 4828
You'd think the obvious decision is too, go long?
Quoting Ill-b-back
off to bed and missing all the action once again
Nope...take a nap.

Brother has to sleep...so the next opportunity to stick with his logic, seeing a long chart, getting confirmation from others...go long, right?
Quoting Ill-b-back
{quote} Going well thx brother, just watching to see if we get to 4350 to go long
Target set...a little out of range, but still long right??

Quoting Ill-b-back
{quote} Down for a nice landing
Perfect opportunity for a long right?

Nope...
Going to wait a little bit...
Quoting Ill-b-back
4880 (area) max for the bulls. IF we get there, time to short hard
Aight...Market is going up...confirmation for top side targets...opportunity is a bit away, what is the obvious decision?
If you guess stay in trend, you'd be wrong!

Quoting Ill-b-back
Not confirmed yet, but that is strong rejection from double top, so worth a shot to me {image} {image} {image}
Obvious decision...don't stay with your original and multiple analysis...try and justify your positions.
Quoting Ill-b-back
whoops, last Daily TL, was not quite on the mark. checked it, and looks much better now on lower TF, hit right off it {image} {image}


Take another trade?
Quoting Ill-b-back
{quote} ok, last chart 4hr hybrid. Nice candle compression then long candle break/ I hope you get your 4650, just don't take the high ok..... lol, see you HalBot, as you can see, I trade buttons so no big deal {image}
Call another trader a chicken?

Well...to each their own...but then...SHAZAM!
Quoting Ill-b-back
out, looks like shite {image}
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #430,138
  • Apr 30, 2016 5:31pm Apr 30, 2016 5:31pm
Now I get it...My delivery could have been a little softer than:

Quoting Magix
{quote} Dude... WTF is this supposed to be?
Your randomly drawn trendlines are as relevant to market as monkeys flinging shit!
Don't force your chart to meet with somebody elses analysis.
Attached Image
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #430,140
  • Apr 30, 2016 6:32pm Apr 30, 2016 6:32pm
GBPUSD was able to rally gradually last week, reaching the distribution territory at 1.4650. Bulls fought desperately at the distribution territory at 1.4600; only to meet another strong opposition at the distribution territory at 1.4650. Bulls should be able to overcome the opposition at this distribution territory, owing to the bullish outlook on GBPUSD (and most other GBP pairs like GBPAUD and GBPNZD) for the month of May 2016. Price would move up further by 200 pips this week.
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