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Cable Update (GBPUSD)

  • #448,241
  • Jan 28, 2017 5:49pm Jan 28, 2017 5:49pm
so tell me again tls are so rare yet I can find one last week
the reason there rare is your not following the rules like 80% of FF members

Quoting Mr Breakout
{quote} Once again Bones GBP/USD does NOT respect trendlines to the T, it always cuts through the price. 100% pure text-book trendlines rarely exist anyway, that would be too easy, anyone with a ruler could make a fortune that way.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #448,242
  • Jan 28, 2017 5:54pm Jan 28, 2017 5:54pm
Quoting Bones
what your saying is the market didn't work to that line to the pip pretty much {image}
Hi B bit late to be serious as I posted . I play the break of the line but carefull it don't confirm higher .? Yes ??? So we hope to find the resistance to play long or short ??? That is the main aim of fx . If we knew we would be worth fortunes . So with that in mind I say good night all as ever regards E xx
  • #448,243
  • Jan 28, 2017 6:00pm Jan 28, 2017 6:00pm
Quoting Bones
what your saying is the market didn't work to that line to the pip pretty much {image}
Oh yeah?

And what makes you think that the candle on the chart (black circle on the pic below) is not also part of your up-trend line (and in that case the price is indeed cutting through your up-trendline and you will have to redraw it)?

Don't let these trendlines fool you my friend...
Attached Image (click to enlarge)
Click to Enlarge Name: bp01.png Size: 78 KB
  • #448,244
  • Jan 28, 2017 6:03pm Jan 28, 2017 6:03pm
the market didn't fall off after diverging and hitting overbought conditions in res

Quoting Bones
heres the thing ive noticed on H4 ,one thing about overbought is you cant afford any bearish sign ,if GDP is good that line will go which w1 says or reset tl will hold {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #448,245
  • Jan 28, 2017 6:06pm Jan 28, 2017 6:06pm
it opened below and fell off price never broke it before

Quoting Mr Breakout
{quote} Oh yeah? And what makes you think that the candle on the chart (black circle on the pic below) is not also part of your uptrend line (and in that case the price is indeed cuting through your trendline and you will have to redraw it)? Don't let these trendlines fool you my friend... {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #448,246
  • Jan 28, 2017 6:07pm Jan 28, 2017 6:07pm
if you cant see the beauty of that line there's no hope
something that could be worked to the pip sounds handy
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #448,247
  • Jan 28, 2017 6:11pm Jan 28, 2017 6:11pm
Quoting Bones
if you cant see the beauty of that line there's no hope something that could be worked to the pip sounds handy
Your pissed if not you should be ? Work that out regards B
  • #448,248
  • Jan 28, 2017 6:13pm Jan 28, 2017 6:13pm
Hi Hick long time hope your well cuz
  • #448,249
  • Jan 28, 2017 6:14pm Jan 28, 2017 6:14pm
Quoting Bones
it opened below and fell off price never broke it before {quote}
Here is an uptrend line of the cable (1h).

Look how many times the price cut through the line without invalidating the uptrend.

Don't try to draw perfect textbook trendlines, it's a waste of time and energy.

PS: Did you notice the breakout?
Attached Image (click to enlarge)
Click to Enlarge Name: bp02.png Size: 201 KB
  • #448,250
  • Jan 28, 2017 6:22pm Jan 28, 2017 6:22pm
lets say this E if it goes and test the bottom then fails then tl is tested sounds bearish
more like it will work down to 400 mark and start again based on the 2 week outlook
but is poss to range up 2 week before 12100 mark

Quoting elbert3
{quote} Let's say yo won't see 1.200 for along time why because the is a strong one to trade if you wanted to buy any Kong in uk you would think anywhere at 1.2 is a very good buy ??? So now we have seen the bounce if you go back on my post you will find one that says a big bull candle on the day chart . We have that so I think remember I think ??? It will come back to the bottom support on the day ?? Neck on the line mmmmmm 2170 area mmmmm that's red wine talking now lol but say it as you see it ??? The bond that is now happening with uk and Mr...
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #448,251
  • Jan 28, 2017 6:25pm Jan 28, 2017 6:25pm
Here is a note for anybody who wants to trade . If you have s few hundred pounds it what ever your currency and you want to trade fx and your new FOR GET IT one needs a lot of unwanted money to play the market ? Why because in the beginning people see adds if get Rich quick ?! It don't work I even k ow traders here that have lost their acc and not said so ? That's not bad we have all yes all lost accounts I have lost thousands but I have had thousands to lose . Sorry to say that .it is not becoming : if you want to try and make money at fx you need to say ok let's put the money in the broker . Now it's real yes real ? So where do I start ??????????
  • #448,252
  • Jan 28, 2017 6:33pm Jan 28, 2017 6:33pm
looks a lot better higher tf as posted

Quoting Mr Breakout
{quote} Here is an uptrend line of the cable (1h). Look how many times the price cut through the line without invalidating the uptrend. Don't try to draw perfect textbook trendlines, it's a waste of time and energy. PS: Did you notice the breakout? {image}
Attached Image (click to enlarge)
Click to Enlarge Name: h1 1 Screenshot 2017-01-29_00-32-15.png Size: 73 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #448,253
  • Jan 28, 2017 6:35pm Jan 28, 2017 6:35pm
you can see your breaking the rules straight away seems like its respecting it
your left thinking its not really respecting it much

Quoting Mr Breakout
{quote} Here is an uptrend line of the cable (1h). Look how many times the price cut through the line without invalidating the uptrend. Don't try to draw perfect textbook trendlines, it's a waste of time and energy. PS: Did you notice the breakout? {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #448,254
  • Jan 28, 2017 6:36pm Jan 28, 2017 6:36pm
Quoting Mr Breakout
{quote} Here is an uptrend line of the cable (1h). Look how many times the price cut through the line without invalidating the uptrend. Don't try to draw perfect textbook trendlines, it's a waste of time and energy. PS: Did you notice the breakout? {image}
Sorry Mr B I am on Bones side but not all of the time Bones makes some very good opinions as he takes his learning from well let's say another trader and his own assumptions which is fine by me , we all gather info from source ? If you look at candles , it's like they strive to be full ? When they are full then it is time to find another candle that needs filling ? When you find an empty candle it needs to be filled , big wicks and big tails it depends how one reads the chart
  • #448,255
  • Jan 28, 2017 6:42pm Jan 28, 2017 6:42pm
Quoting Bones
looks a lot better higher tf as posted {quote} {image}
Short term view, I'd remain bullish until the top box is broken :-)
TL break is a "pause" in momentum IMHO.
Attached Image
  • #448,256
  • Jan 28, 2017 6:43pm Jan 28, 2017 6:43pm
Quoting Bones
looks a lot better higher tf as posted {quote} {image}
Sorry B I have no chart be can to draw a line fro the 1sit high after the gap to your 1st low that touched the tl
  • #448,257
  • Jan 28, 2017 7:01pm Jan 28, 2017 7:01pm
Quoting srt
I'd remain bullish until the top box is broken :-)
Excellent, you definitely know how to play breakout.
  • #448,258
  • Jan 28, 2017 7:03pm Jan 28, 2017 7:03pm
Attachment g
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDDaily.2.png Size: 28 KB
  • #448,259
  • Jan 28, 2017 7:13pm Jan 28, 2017 7:13pm
Quoting Bones
looks a lot better higher tf as posted {quote} {image}
Strange.
According to the books an up trendline starts with the lowest low on the chart (see red circle on the chart below), and yet you decided to ignore that lowest low and conveniently selected the second pivot low to draw the "correct" trendline, breaking the rules on how to draw trendlines.
Hmmm....
Attached Image (click to enlarge)
Click to Enlarge Name: image.png Size: 191 KB
  • #448,260
  • Jan 28, 2017 7:31pm Jan 28, 2017 7:31pm
This is so funny, lessons on drawing straight lines.
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