GBP/USD - When did the Bulls lose? Discuss

[firewalker99]

With FA, I think the exact opposite is true: it tells you how big the move is going to be but not what it would do on the way.

I'm all ears so can you tell me how far we are going to drop on the DOW until the bottom sets in? You can leave out anything that comes in between now and that time.

In fact, TA can be used pretty well to determine the extent of a direction move. Price is always attracted to the place where most people find value. These values can be visibly identified on charts. How can they be determined by FA? How did FA tell me oil was going to top around $150? And how did FA tell me oil was going to fall below 100 before we saw a bounce?

On the other hand, there are methods which came very close to determining those two strongly directional moves in oil from the last couple of months...

 

[firewalker99]

I'm all ears so can you tell me how far we are going to drop on the DOW until the bottom sets in? You can leave out anything that comes in between now and that time.

In fact, TA can be used pretty well to determine the extent of a direction move. Price is always attracted to the place where most people find value. These values can be visibly identified on charts. How can they be determined by FA? How did FA tell me oil was going to top around $150? And how did FA tell me oil was going to fall below 100 before we saw a bounce?

On the other hand, there are methods which came very close to determining those two strongly directional moves in oil from the last couple of months...

While we wait for the FA-people to show us how to determine how far a move can travel, there's another simple approach that usually gives a pretty good idea when anticipating a breakout.

Oil was fairly rangebound near the end of 2007. After price broke resistance it ran straight up to my first target, which was determined by transposing the width of the range vertically. Price stopped almost exactly there, before re-testing resistance now turned into support. After that it made a double bottom and went for another mark-up phase, after which a re-test followed of the top of the perfect square. This is all very straightforward, very basic, very simple TA.

 

[FXSCALPER2]

I'm all ears so can you tell me how far we are going to drop on the DOW until the bottom sets in? You can leave out anything that comes in between now and that time.

In fact, TA can be used pretty well to determine the extent of a direction move. Price is always attracted to the place where most people find value. These values can be visibly identified on charts. How can they be determined by FA? How did FA tell me oil was going to top around $150? And how did FA tell me oil was going to fall below 100 before we saw a bounce?

On the other hand, there are methods which came very close to determining those two strongly directional moves in oil from the last couple of months...

I will let you know when I have a decent fundamental idea. TA is a much better way to trade though.

 

[JahDave]

So where is the eur/gbp going next? I'll go out on a limb here and say it will reverse at about .9100. That is based on 4 TA's: Elliot Wave, Trend channel resistance, Parallel resistance and 50% fibbonacci retracement. I'm selling at .9100 and. Don't mistake this for a trading tip, I'm just putting it out there to see what happens.

 

[JahDave]

Here's my chart. I only mention the 2 equivelant wave movements because lot's of times two of the three impulse waves will be equal or a Fibbonacci extension of each other.

 

[JahDave]

I also drew an alternate trend channel chart', so if you use this one it knocks out the trend channel resistance as an indicator.

 

[poborsky]

So where is the eur/gbp going next?

Parity

 

[montmorencyt2w]

Parity

Not tonight it ain't, by the look of it.

 

[JahDave]

If this support line holds for one more move up it may still make it and reverse, but if not I was wrong and will sell after it breaks support and has the bounce after the break.

 

[JahDave]

If I'm completely wrong then I will get stopped out on this one and reevaluate later and try to learn something from a mistake.

 

[Nostradamus359]

banca.ru

 

[VingTsunKuen]

Hi there...

What have happened in mine trading world is that,as i have marked on screen-shot,price has touched area of supply from past and as there was more supply than demand price could not stay there. At the same time close to area of supply there is area of demand and in such cases there is probability that range will form as it did.
Where it will go?I don"t have a slightest idea.

 

[candles]

well im hoping for a drop 'cos im short the old girl. So far so good. Mixed say on the scapling front tho

 

[mb_blue]

guys, what are the support levels for cable would you say?? im thinking around 1.5850 before we see a major decline????????


Looking to short myself..........where do we see cable over the coming 2 weeks say????


Thanks

 

[mb_blue]

guys, two things, WHAT IS PRICE ACTION?????

AND WHERE DO WE SEE CABLE ENDING UP AT THE END OF THE NEXT COUPLE OF WEEKS??? HAVE SUPPORT LEVELS BEEN BROKEN???

THANKS

 

[sakhter]

slight rally back to 1.5976 is very probable

 

[neil]

make a decision

guys, two things, WHAT IS PRICE ACTION?????

AND WHERE DO WE SEE CABLE ENDING UP AT THE END OF THE NEXT COUPLE OF WEEKS??? HAVE SUPPORT LEVELS BEEN BROKEN???

THANKS

DON'T SHOUT !!!

You are shown as working for a trading arcade or some such. Why are you posting so many threads asking the same questions ?
Can't you make up your own mind or don't you have the bottle to make your own trading decisions albeit you are a vendor/member of a trading arcade or similar?


Price Action - surprised you asked this seeing you have a vendor or such tag.....see james16 thread on FF

http://www.forexfactory.com/showthread.php?t=2331

 

[mb_blue]

DON'T SHOUT !!!

You are shown as working for a trading arcade or some such. Why are you posting so many threads asking the same questions ?
Can't you make up your own mind or don't you have the bottle to make your own trading decisions albeit you are a vendor/member of a trading arcade or similar?


Price Action - surprised you asked this seeing you have a vendor or such tag.....see james16 thread on FF

james16 Chart Thread @ Forex Factory

sorry neil, caps lock was on, didnt realise.

was part of a tradine "arcade" but have recently gone private. Love what u guys are posting on trade to win and i must admit, im very new to FX so ur posts are a great insight.

Thanks again and would love to get ur views on cable as mentioned on the other thread.

Cheers!

 

[snake86]

mb_blue,

Lets see what the partyline is after tomorrow's Special Economists Meeting which everyone seems to be worried about. If they break us in with a cut in central bank deposits rate then we can expect a further dilution in Sterling crosses. If you are looking at the next two weeks, then I would suggest you drill down into the lower timeframes as in watch the action, economic calendar and see if its worth placing a trade on in a certain direction.

I am weary of heavy shorting NOW because Sterling needs to catch a breath before starting its next leg down towards the lowly 1.4s which is the long term equilibrium rate. There has been a good bounce of the 1.58xx support level.

(By the way Neil, I like the quote you have used at the bottom of your message, couldn't agree with you more !)

 

[mb_blue]

mb_blue,

Lets see what the partyline is after tomorrow's Special Economists Meeting which everyone seems to be worried about. If they break us in with a cut in central bank deposits rate then we can expect a further dilution in Sterling crosses. If you are looking at the next two weeks, then I would suggest you drill down into the lower timeframes as in watch the action, economic calendar and see if its worth placing a trade on in a certain direction.

I am weary of heavy shorting NOW because Sterling needs to catch a breath before starting its next leg down towards the lowly 1.4s which is the long term equilibrium rate. There has been a good bounce of the 1.58xx support level.

(By the way Neil, I like the quote you have used at the bottom of your message, couldn't agree with you more !)

valid point snake86.

it certainly has rebounded a bit, but long term i agree it will begin falling further against the dollar.

Thanks