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Cable Update (GBPUSD)

  • #449,881
  • Feb 17, 2017 2:17pm Feb 17, 2017 2:17pm
you had to call it complex cause it doesn't look remotely like it
no real trend is seen ,not to mention big look left problem

Quoting Mr Breakout
Complex Head and Shoulders on GBP/USD (4h), this baby is going down very soon. Right, Bones... ? {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #449,882
  • Feb 17, 2017 3:04pm Feb 17, 2017 3:04pm
Quoting Bones
you had to call it complex
I am not making this up, a complex head-and-shoulders formation is a chart pattern that looks like an inverted head-and-shoulders but with multiple heads, multiple shoulders, or sometimes both: http://thepatternsite.com/chsb.html

A quick review of the classic chart patterns and their variations should be in order, don't you think Bones...?
  • #449,883
  • Feb 17, 2017 11:55pm Feb 17, 2017 11:55pm
what's to review Break ?
you quoted the inverse so down is changed to up ,
shoulders should mirror


Quoting Mr Breakout
{quote} I am not making this up, a complex head-and-shoulders formation is a chart pattern that looks like an inverted head-and-shoulders but with multiple heads, multiple shoulders, or sometimes both: http://thepatternsite.com/chsb.html A quick review of the classic chart patterns and their variations should be in order, don't you think Bones...?
Attached Image (click to enlarge)
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Attached Image
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #449,884
  • Feb 18, 2017 12:23am Feb 18, 2017 12:23am
well, just took a quick look dem charts, and I can tell you one thing....I'm buying the hell out of it at 1.2219...its just something I have to do..
that level is mean, its sneaky, and its damn sexy...I don't know if it will hold for a minute, or an hour, or a month, and I don't know if I'll buy one car, or 50...but I'm going on..that's for damn sure..

as for other ideas...well I'd like to see us take 1.2382 out, and look to sell a bounce, but not sure where...
Attached Image (click to enlarge)
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Look Sharp/Trade Tight
  • #449,885
  • Feb 18, 2017 2:01am Feb 18, 2017 2:01am
Unless it is relatively short-term, or your playing on an impulsive move, I'm unable to understand anyones reason for buying British Pounds. All it takes is one news headline, government announcement or a bad statistic for a wave of selling to hit GBP. How much uncertainty is there in Europe currently? Especially within Britain and her relationship with her neighbours? This is not an environment that promotes demand and optimism for financial instruments.

Having said that, I do believe Britain can thrive OUTSIDE the European Union. Yet time has to pass and uncertainty has to decrease before you can expect this to be reflected in financial markets.

So if someone could explain to me, excluding whatever you perceive on a chart, what possible reason could there be for gaining exposure to the British Pound?

As of now, it appears to be beyond sense.

A
Humans are naturally hardwired to avoid and detest uncertainty.
  • #449,886
  • Edited 2:55am Feb 18, 2017 2:12am | Edited 2:55am
Quoting Bones
you had to call it complex cause it doesn't look remotely like it no real trend is seen ,not to mention big look left problem {quote}
with all due respect Bones , but my friend Mr Breakout is right there , that's a complex H&S indeed

don't wanna call it complex , you can call it multi-legged or multiple or 3-step H&S
  • #449,887
  • Edited 6:00am Feb 18, 2017 4:10am | Edited 6:00am
another level I like is 141.65 in GJ....
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Look Sharp/Trade Tight
  • #449,888
  • Feb 18, 2017 5:24am Feb 18, 2017 5:24am
Hi Mxt not according to the site breakout mentioned ,price already dipped below the line and price immediately to left no trend ,looks like consolidation maybe bearish
show me how on a chart ?
LH side is way higher does not mirror in any way

Quoting MXT
{quote} with all due respect Bones , but my friend Mr Breakout is right there , that's a complex H&S indeed don't wanna call it complex , you can call it multi-legged or multiple or 3-step H&S
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #449,889
  • Feb 18, 2017 6:02am Feb 18, 2017 6:02am
also keeping 8609 in EG on the radar...
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Look Sharp/Trade Tight
  • #449,890
  • Edited 7:02am Feb 18, 2017 6:51am | Edited 7:02am
if it is H+S should go to 12 which is outside what I think it can do considering that big one V current pa
the big one makes me think it will go higher still but 3 weeks is red tho last one inside
it has made lower highs its not clear for me so I stayed away from it
leaves fractal either way so long as no gap down below
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #449,891
  • Feb 18, 2017 6:57am Feb 18, 2017 6:57am
Quoting Bones
Hi Mxt not according to the site breakout mentioned ,price already dipped below the line and price immediately to left no trend ,looks like consolidation maybe bearish show me how on a chart ? LH side is way higher does not mirror in any way {quote} {image}
this is a downward sloping H&S - they do exist

price has not dipped below the neckline yet - but the neckline is not your short horizontal blue line , but the longer downward sloping blue line which you have already drawn

so you have a two-pronged left shoulder , the head , a three-pronged right shoulder and a downward sloping blue neckline yet to be broken
  • #449,892
  • Feb 18, 2017 7:33am Feb 18, 2017 7:33am
ok on a chart ?
Quoting MXT
{quote} this is a downward sloping H&S - they do exist price has not dipped below the neckline yet - but the neckline is not your short horizontal blue line , but the longer downward sloping blue line which you have already drawn so you have a two-pronged left shoulder , the head , a three-pronged right shoulder and a downward sloping blue neckline yet to be broken
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #449,893
  • Feb 18, 2017 7:57am Feb 18, 2017 7:57am
Quoting Bones
ok on a chart ? {quote}
h&s
Attached Image (click to enlarge)
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  • #449,894
  • Feb 18, 2017 8:02am Feb 18, 2017 8:02am
no way ,ok only market can prove this

Quoting MXT
{quote} h&s {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #449,895
  • Feb 18, 2017 8:06am Feb 18, 2017 8:06am
you put boxs over price for head shoulder looks better ,whats to stop me saying then that's inverse H+S under left if we take this route

Quoting MXT
{quote} h&s {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #449,896
  • Feb 18, 2017 8:13am Feb 18, 2017 8:13am
Quoting Bones
you put boxs over price for head shoulder looks better ,whats to stop me saying then that's inverse H+S under left if we take this route {quote}
no pattern is a sure thing 100%

as you say , only market can prove this - i am not a super fan of such patterns either , but since we were talking about the topic , Mr Breakout correctly spotted the multiple H&S above which he rightly pointed out

however that being said, such patterns do have their validity under adequate market conditions
  • #449,897
  • Feb 18, 2017 8:16am Feb 18, 2017 8:16am
it doesn't meet the basic criteria ,maybe bearish just read the link he gave tell me it meets the criteria or provide the link that makes it that ,forever seeing this pattern side by side one after another something's wrong

Quoting MXT
{quote} no pattern is a sure thing 100% as you say , only market can prove this - i am not a super fan of such patterns either , but since we were talking about the topic , Mr Breakout correctly spotted the multiple H&S above which he rightly pointed out however that being said, such patterns do have their validity under adequate market conditions
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #449,898
  • Feb 18, 2017 8:18am Feb 18, 2017 8:18am
The HS story continues lol looking at the day chart it just popped out of tl . If this Carries on short my 2160 could turn to 2080 area
  • #449,899
  • Feb 18, 2017 8:21am Feb 18, 2017 8:21am
hi FF traders,

1.28 by the end of the month or less .. US $ want this.

Both sides makes money..


Trade safe.
If skills could be acquired by watching, every dog would be a butcher. Turk
  • #449,900
  • Feb 18, 2017 8:25am Feb 18, 2017 8:25am
When this months candle closers if if it is higher than the bottom then I think we should use it as the bottom tl of any rise to the left of the monthly bottom candle that would be a tl attraction line if price breaks the bottom
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