i can't believe we have been playing around daily pivot since today open like its not even there, well i remain bearish today till 1.29930 is tested or price break above 1.30408
yes am aware of that but am looking to buy at 1.29930. it has better R:R . in the main time i will like to see a correction to that point for me to buy, but the chances of that is looking slim now and am not going long from here, am definitely not.
{quote} Hi Nelzo can u show ur analysis thax {image}
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thanks samansadeghi , actually we are this time in Hard Trade Level we can't use 1 or 2 lines to determine the direction i have some notes as following :
1- DXY Dollar Index still we have down trend which is mean the GBPUSD direction to 1.3250 .
2- Still the Ichimoku Cloud create a good resistance for the GBPUSD on daily bases .
3- I think tomorrow before USA session we will have bullish movements before FOMC & Federal Funds Rate result ( if not we will see the 1.2960 ).
4- if you check all GBP crosses you will find the correction trend come form oversold status .
{quote} I don't see any evidence at all for the 4 hr going down, in fact it has found support at 1.3013...Don't know what a 50 SMA has to do with anything. I would wait for evidence for such a move. {image}
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Hi Nala66.... your plot is very similar to mine .... friend of LC?
{quote} I don't see any evidence at all for the 4 hr going down, in fact it has found support at 1.3013...Don't know what a 50 SMA has to do with anything. I would wait for evidence for such a move. {image}
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Hi can I just clarify on your chart, If I use your H4 on a weekly chart the swing high will be limited to the top at 1.3113, the Previous week high 1.3125 becomes an FBO, hence I am bearish bias in that sense although we have the mid as support. Last weeks sideways have 1.3028 as its mid with 1.3077 at 25% resistance which stopped yesterdays upswing. Your opinion pls..
We have todays daily pivot at 1.3039 and 1.3028 as resistance, from here where 3 pushes on the M1 chart ends 1.3039, will it break and resume upwards to test 1.3077 again?
We have todays daily pivot at 1.3039 and 1.3028 as resistance, from here where 3 pushes on the M1 chart ends 1.3039, will it break and resume upwards to test 1.3077 again?
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Last quarters high at 3046 should be a better resistance point to guage things by
At the moment, the price is testing support. And I assume that if price doesn't break through support it will move to the point of 1.30853. And if it breaks support, it will move down to the point of 1.29683.
{quote} Hi can I just clarify on your chart, If I use your H4 on a weekly chart the swing high will be limited to the top at 1.3113, the Previous week high 1.3125 becomes an FBO, hence I am bearish bias in that sense although we have the mid as support. Last weeks sideways have 1.3028 as its mid with 1.3077 at 25% resistance which stopped yesterdays upswing. Your opinion pls..
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That is fine if you are considering a short term trade counter to the trend. To me the weekly was in divergence (I had to get a chart out because I don't use such a high time frame.)
Now a divergence returns the price to a DP (Decision Point) and if it doesn't then nothing has change and the move will continue, in this case long. So a quick short trade would have been in order but traded at the lower time frames.
Trading breakouts of horizontals will be met with many FBO's but considered at the lower time frames then 20 pips is often easy to get. A weekly chart is far too long winded for me to be interested in. There can be lots of ups and downs in a week.
Just looking at this weekly chart and I see there is a potential ABCD here.
{quote} That is fine if you are considering a short term trade counter to the trend. To me the weekly was in divergence (I had to get a chart out because I don't use such a high time frame.) Now a divergence returns the price to a DP (Decision Point) and if it doesn't then nothing has change and the move will continue, in this case long. So a quick short trade would have been in order but traded at the lower time frames. Trading breakouts of horizontals will be met with many FBO's but considered at the lower time frames then 20 pips is often easy...
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Thanks for taking time.... what I meant is on H4 chart the swings with mid are plotted on a weekly basis and from there the swing high of last week became FBO.... nonetheless I understand what you meant. Yes ABCD or 123 is visible
So as I awake and check my 1 hour chart this morning I see the bulls did indeed find support at 1.3034
This gives me more confidence that the triangle target will be hit later at 3184.
The thing to note here is the pulse bars pulling the average to pass a previous average (shown on the chart below.) There is a fairly large bar between these two but it is not a pulse bar because it didn't make the HH.
Here is my 1 hour chart as it stands at the moment.
Cable Update (GBPUSD)
