Dislikedsorry nedal could i ask what is double top and what is tf?? thanksIgnored
Its great for beginers...tells you lots of important stuff and quite easy to understand.
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Dislikedsorry nedal could i ask what is double top and what is tf?? thanksIgnored
DislikedJust some more information...
1.5500 physhological level and prior resistance/support
1.5502 daily R2 pivot
1.5488 weekly R2 pivot
1.5508 monthly R2 pivotIgnored
DislikedSo what's your conclusion? ... Is it better to buy on dips or sell on rallies?Ignored
Dislikedyes... that`s the bigger picture... I think we might visit 250 and then back to 500 on the next week...Ignored
DislikedSo what's your conclusion? ... Is it better to buy on dips or sell on rallies?Ignored
Dislikedwell, 250 seems to be a psychological level... if the trend was upwards, then there could be a bounce at that level...Ignored
Dislikedmoreover, 1.5250 was a good resistance as it acted as shoulders. Why could it not serve as a support now?Ignored
DislikedWhy should it? Between November 08 to January 09, the 5500 levels had been tested 3 times and on all counts were rejected heavily. I don't like to "expect" where the market's headed, it's a waste of time. But if you're expecting cable to bounce from the level you mentioned, then you should also be prepared for a violent rejection based on price history.
Thank you for the reply btw, & good luck with your tradeIgnored
DislikedThanks for enlightening me from your viewpoint. However overbought technicals indicate, the market doesn`t reverse, since we fail to account the various factors (Fundamentals, oil, commodities, stocks, Fixes, etc...) which are almost completely against the control of traders (as i see it). It seems like as if the queen has ordered for a quick recovery of the sterling...Ignored
DislikedI wrote a looong message here and it got deleted so Ill write a shorter version my thoughts 1)If the bull bank big boys have so much faith in GBP why did they wait until after asian session to make their move taking advantage of low volatility - they could have just dont it easily enough on yesterdays trading session - this is obvious PA manipulation 2) Even if this is recovery - recover is likely to be long and lethargic - reasons in my previous post 3) If the recovery has started then look back at daily charts oct/nov/dec and reverse - recovery...Ignored
Dislikedis there any possiblity that it will be down back??since past days not retracing just going up and up
UbIgnored