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Cable Update (GBPUSD)

  • #458,161
  • Feb 27, 2018 2:14pm Feb 27, 2018 2:14pm
H4 Candle Looks a good reversal
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Regard NOOR16
  • #458,162
  • Feb 27, 2018 2:21pm Feb 27, 2018 2:21pm
Quoting Noor16
H4 Candle Looks a good reversal {image}
Beware of bull trap, as Euro has strong bearish movement, since the previous weekly low has been breached. And the close convergence between this two assets.
  • #458,163
  • Feb 27, 2018 5:14pm Feb 27, 2018 5:14pm
Quoting Bones
That's because there isn't one at all {quote}
OK smarty, what was this then?

And for those that are interested while I was sleeping look where the price stopped exactly... 3881
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  • #458,164
  • Feb 27, 2018 6:10pm Feb 27, 2018 6:10pm
OK not that I traded this but carrying on from yesterday...

We see on the hour we have past the 3881 average and look to the lower time frames namely the 1 minute to see what we see there and yes we have the divergence and we are at the extremes on the RSI... a good bet I would suggest for a long with a target of about 40 pips to the top of the previous average on the 1 minute. About 20 minutes later we were done and dusted.

I will blow up the 1 minute shortly to show other entries.

So together with the 1 hour we are looking for the inference and then the entry on the 1 minute.
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  • #458,165
  • Feb 27, 2018 6:26pm Feb 27, 2018 6:26pm
So dropping now to the 1 minute chart we see the average made a double top.

It then began to test the lower average and failed having run into a second divergence ( I know there was another at the DP) So again we take the divergence with the target being the next average swing and about half an hour later we are paid again another 40 pips.

Note how even though the average made the HH price then turns to test the low average which so far it hasn't made it.

All this was said in those dot points I posted.
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  • #458,166
  • Feb 27, 2018 6:42pm Feb 27, 2018 6:42pm
We can also note that once the top average was reached we ran into a bearish divergence to send it down again but this time the divergence was close to the average so there was little movement.

To sum up

We have the inference from the 1 hour.

The divergence entries from the 1 minute.

The target at the average swings.

We see failure of the average on one side results in success on the other unless price is ranging sideways.

Price always has to pass beyond the previous average if it is going to attempt to make a better average.

Stops are always going to be tight above/below the divergences.

We try to get our 3 entries on before price reaches the average (Not easy to do sometimes) so we end up with a massively compounded win compared to a smallish loss should the div fail. Remember a div will return price to and beyond the average so if it is not doing so get suspicious in a hurry.
  • #458,167
  • Feb 27, 2018 9:01pm Feb 27, 2018 9:01pm
Quoting Bones
That's because there isn't one at all {quote}
Lol only a trained eye will see
  • #458,168
  • Feb 27, 2018 9:04pm Feb 27, 2018 9:04pm
Quoting Trade-G
{quote} 1.3860 region plus minus
Damn it .... it really zoomed to 1.3855.... missed it as I stopped trading
  • #458,169
  • Feb 27, 2018 9:09pm Feb 27, 2018 9:09pm
Quoting Mr.Mike
I personally am a bear on this trade... That is if we can get it down to 1.38465 and below. If not this might be moving sideways during the month of March..{image}
Yep Mike, the breakout did happened, left before the breakout... initially thought it might be a FBO... not sure if this will result in another push downwards in H1 timeframe
  • #458,170
  • Feb 27, 2018 9:19pm Feb 27, 2018 9:19pm
Just studying Nala's method which I find interesting, now testing the support at 1.3897 if it can clear it may test 1.3868. Await Nala to clarify correctness.
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  • #458,171
  • Feb 28, 2018 12:14am Feb 28, 2018 12:14am
Inserted Video
  • #458,172
  • Feb 28, 2018 12:53am Feb 28, 2018 12:53am
gonna try some shorts at 1.3965....
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Look Sharp/Trade Tight
  • #458,173
  • Edited 1:37am Feb 28, 2018 1:24am | Edited 1:37am
Quoting Aleksbuk
http://www.youtube.com/watch?v=VWK61PZBvwo
hi, so the price will go back to 1,3965? and then downtrend again, but what did you ment with confirmation?
  • #458,174
  • Feb 28, 2018 3:28am Feb 28, 2018 3:28am
Quoting 777girl
{quote} hi, so the price will go back to 1,3965? and then downtrend again, but what did you ment with confirmation?
These are very dangerous questions to ask. What if they say yes, will you put your money on the line? Then if it doesn't, who will you blame?
Focus.
  • #458,175
  • Feb 28, 2018 3:40am Feb 28, 2018 3:40am
Quoting 777girl
{quote} hi, so the price will go back to 1,3965? and then downtrend again, but what did you ment with confirmation?
If you must seek an answer, we need to see a base formed first preferably on the H1 chart for any upside
  • #458,176
  • Feb 28, 2018 3:46am Feb 28, 2018 3:46am
Using Nalas method on the M15 we have bear support (resistance) at 1.3915
  • #458,177
  • Feb 28, 2018 3:50am Feb 28, 2018 3:50am
Previous bull support at 1.3914 will be tested soon
  • #458,178
  • Feb 28, 2018 4:01am Feb 28, 2018 4:01am
If you learn it properly you cannot have price to the left in a top formation ,in actual fact every daily pin would look like that H1

Quoting Nala66
{quote} OK smarty, what was this then? And for those that are interested while I was sleeping look where the price stopped exactly... 3881 {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #458,179
  • Feb 28, 2018 4:06am Feb 28, 2018 4:06am
No
he dosen't say that bull failure -bear success but that makes more sense, he has bull support and bear support
Quoting Trade-G
Just studying Nala's method which I find interesting, now testing the support at 1.3897 if it can clear it may test 1.3868. Await Nala to clarify correctness. {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #458,180
  • Feb 28, 2018 4:27am Feb 28, 2018 4:27am
Quoting Bones
No he dosen't say that bull failure -bear success but that makes more sense, he has bull support and bear support {quote}
You are so funny hahahah
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