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Cable Update (GBPUSD)

  • #448,281
  • Jan 29, 2017 12:40am Jan 29, 2017 12:40am
I prefer horizontal lines....but I guess just like with all lines, everyone draws them differently....

too lines I like in GBPJPY for next week...I lay some cheese on them if I get a chance....
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH1.png Size: 52 KB
Look Sharp/Trade Tight
  • #448,282
  • Jan 29, 2017 12:41am Jan 29, 2017 12:41am
Quoting Nala66
Where do I get this years and years of experience
Unfortunately there is no shortcut in this crazy (but highly rewarding) trading business, you need to do your homework and study thousands and thousands of charts, day after day, week after week, year after year.

And then one day something will click and you will know you found it...
  • #448,283
  • Jan 29, 2017 12:52am Jan 29, 2017 12:52am
Quoting PayTheLimit
I prefer horizontal lines....
The problem with horizontal lines is that they are too obvious and easily visible on the charts.

And when something is too obvious for the masses the market usually goes the other way or at best it will fake us out first


"The market is never obvious. It is designed to fool most of the people most of the time.”
Legendary trader Jesse Livermore.
  • #448,284
  • Jan 29, 2017 12:56am Jan 29, 2017 12:56am
Quoting Mr Breakout
{quote} The problem with horizontal lines is that they are too obvious and easily visible on the charts. And when something is too obvious for the masses the market usually goes the other way or at best it will fake us out first
Perhaps, but just like all other methods, everyone will prolly draw a different set of lines. Would you have drawn the lines I just did in GJ.
Look Sharp/Trade Tight
  • #448,285
  • Jan 29, 2017 1:03am Jan 29, 2017 1:03am
Quoting PayTheLimit
{quote} Perhaps, but just like all other methods, everyone will prolly draw a different set of lines. Would you have drawn the lines I just did in GJ.
I will study the chart and get back at you tomorrow.
Off to bed now.
Take care all.
  • #448,286
  • Jan 29, 2017 1:53am Jan 29, 2017 1:53am
Attached Image
  • #448,287
  • Jan 29, 2017 5:39am Jan 29, 2017 5:39am
Quoting PayTheLimit
I prefer horizontal lines....but I guess just like with all lines, everyone draws them differently.... too lines I like in GBPJPY for next week...I lay some cheese on them if I get a chance.... {image}
I totally agree!
  • #448,288
  • Jan 29, 2017 5:39am Jan 29, 2017 5:39am
mostly ,there tls at least you dont cut up the price on the chart ,minor ones


Quoting Nala66
What is a trend line break? which trend? at what time frame? and so on. Which ones bounce? {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #448,289
  • Jan 29, 2017 5:43am Jan 29, 2017 5:43am
Subjectivity is the nature of the beast with FX trading, though.

Like many people have already commented; if it was straight forward - everyone would be on a beach drinking rum punch.
  • #448,290
  • Edited 6:04am Jan 29, 2017 5:52am | Edited 6:04am
tls dont exist that worked too over distance because you never tried ,you can capture price willy nilly but your never ever be accurate with that line
I mean never
its not easy I haven't said that
Attached Image (click to enlarge)
Click to Enlarge Name: USD (DFB).png Size: 22 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #448,291
  • Edited 7:04am Jan 29, 2017 6:45am | Edited 7:04am
breakout said at the time how do I know that long tl was a break ,well it was tested to the pip bear fail right on it
after a 400 pip up move
now I know the market worked to that steep tl ,I think if it went there it would fail
but 2 week chart tells me high prob no 1.2
its making a up move
retrace or consolidate next
now we wait and see I dont know what next exactly and made a guess with some space
Attached Image (click to enlarge)
Click to Enlarge Name: 1 cable Screenshot 2017-01-29_13-03-37.png Size: 141 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #448,292
  • Jan 29, 2017 6:51am Jan 29, 2017 6:51am
Quoting Mr Breakout
{quote} "The market is never obvious. It is designed to fool most of the people most of the time.”
good one
  • #448,293
  • Jan 29, 2017 6:56am Jan 29, 2017 6:56am
Quoting Bones
breakout said at the time how do I know that long tl was a break ,well it was tested to the pip bear fail right on it after a 400 pip up move now I know the market worked to that steep tl ,I think if it went there it would fail but 2 week chart tells me high prob no 1.2 its making a up move now we wait and see I dont know what next exactly and made a guess with some space {image}
Intraday only.
  • #448,294
  • Jan 29, 2017 6:59am Jan 29, 2017 6:59am
My current thoughts on the week ahead for GBPUSD are as follows --

Open approximately where we closed on Friday - no big gaps.

Price to bounce around without much range until a rise to the 1.2575 area and then a fall to 1.2415.

I have no open positions as I type these thoughts, but I'll try and get in a short at around the 1.257 area, if price goes as above.

Does anyone else have thoughts on the pair, for the week ahead?
  • #448,295
  • Jan 29, 2017 7:20am Jan 29, 2017 7:20am
Imo, you people try to interpret every single candle on every single Time frame.
(mostly to support the own biased view.) And then, if H1 does not work, then have
a look at H4, if not then o wait there is a long on D1 lets fit the lines, draw this line so
and this so and voila..


What i learned. You have to stick to the pattern(s) that you know 110% and worked for you most of the time,
and then wait and wait and wait till they occur, then make you trade, pray to Satan and see what happens.
And then again, wait wait wait till the new one comes.





Happy trading.
How to opt out annoying user signatures ??
  • #448,296
  • Jan 29, 2017 7:51am Jan 29, 2017 7:51am
Whats also cool is working together NOT against.
Even if you have some differences like me and..

Example:

First Pic:

My idea from November 2016

Second:

and how Bones ruined my Chart.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ich.jpg Size: 172 KB
Click to Enlarge Name: bones1.jpg Size: 188 KB
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  • #448,297
  • Jan 29, 2017 7:54am Jan 29, 2017 7:54am
This brought me to a idea to draw few more..

Attached Image (click to enlarge)
Click to Enlarge Name: i1.jpg Size: 312 KB
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  • #448,298
  • Jan 29, 2017 7:58am Jan 29, 2017 7:58am
And guess what.

I improve my view from tome to time adjust the lines and still work with this template.

And im doing fine. But you have to have patience, wide SL und TP
and dont hunt every day for 50-100 pips.. guessing if long or short.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: h1.jpg Size: 284 KB
Click to Enlarge Name: h2.jpg Size: 325 KB
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  • #448,299
  • Jan 29, 2017 8:44am Jan 29, 2017 8:44am
your cracking me up I said it wouldn't go in box your 1 (mine lower) might go my 4
but would go higher than price then
you said nothing but there the zones
a monkey could do better with line

Quoting Toranaga
Whats also cool is working together NOT against. Even if you have some differences like me and.. Example: First Pic: My idea from November 2016 Second: and how Bones ruined my Chart. {image} {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #448,300
  • Jan 29, 2017 8:48am Jan 29, 2017 8:48am
actually you said to go higher would take 6 months
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