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Cable Update (GBPUSD)

  • #54,241
  • Edited 5:50pm Feb 17, 2008 5:16pm | Edited 5:50pm
Quoting nAVIN2007
down we go! ..1.9529
Yeah - I guess we'll have to put up now with jacobtrader's "I tole ya so" (unless he's been banned, as some suggest).

My broker closed on Feb15 @ 19611 and opened today @ 19568. Where does one get such "gap" data, or which MT4 broker's don't have such a gap?
Darkness lies one inch ahead..
  • #54,242
  • Feb 17, 2008 5:18pm Feb 17, 2008 5:18pm
Quoting TraderJR
Yeah.

My broker closed on Feb15 @ 19611 and opened today @ 19568. Where does one get such "gap" data, or which MT4 broker's don't have such a gap?
I'm not too sure if you can get such gap data to be honest. Alpari perhaps.
  • #54,243
  • Feb 17, 2008 5:20pm Feb 17, 2008 5:20pm
Quoting TraderJR
Yeah.

My broker closed on Feb15 @ 19611 and opened today @ 19568. Where does one get such "gap" data, or which MT4 broker's don't have such a gap?
The actual markets are open 24/7 but brokers usually only operate 24/5, If I remember correctly Oanda allows you to trade on weekends, but there were prerequisites I think, either that or the spread was significantly higher.
The only sovereign I can allow to rule me is reason.
  • #54,244
  • Feb 17, 2008 5:20pm Feb 17, 2008 5:20pm
If there is a gap it needs to be filled so keep your eyes glued......this could be a good....trade....

Also Navin......
Why do you see 29 for what reason...Just out of curiosity my friend
  • #54,245
  • Feb 17, 2008 5:22pm Feb 17, 2008 5:22pm
Quoting rav700
If there is a gap it needs to be filled so keep your eyes glued......this could be a good....trade....

Also Navin......
Why do you see 29 for what reason...Just out of curiosity my friend
I, myself, was looking for 35....I already have my Buy Limit pending order set
The only sovereign I can allow to rule me is reason.
  • #54,246
  • Feb 17, 2008 5:22pm Feb 17, 2008 5:22pm
Quoting TraderJR
Yeah - I guess we'll have to put up now with jacobrader's "I tole ya so" (unless he's been banned, as some suggest).

My broker closed on Feb15 @ 19611 and opened today @ 19568. Where does one get such "gap" data, or which MT4 broker's don't have such a gap?
this gap data is regarded as a window and it acts as a resistant/support its a indication we are going down..what i hate is i have 2 different demo platforms and the data is a bit different on both..why i have no idea?
the windows are different sizes..ones 20 pips and the other is like 12..nuts
  • #54,247
  • Feb 17, 2008 5:24pm Feb 17, 2008 5:24pm
Quoting rav700
If there is a gap it needs to be filled so keep your eyes glued......this could be a good....trade....

Also Navin......
Why do you see 29 for what reason...Just out of curiosity my friend
Maybe an old uptrend line (support) on H1 and above charts? I don't know neither though.
  • #54,248
  • Feb 17, 2008 5:25pm Feb 17, 2008 5:25pm
Quoting TraderJR
Thanks for the clear explanation.

Do you think you have a higher success rate (than using non-pattern TA), and what is your good trade %? Do you use Gartley?
Well after lost a lot of money with a lot of strategies, now using pattern recognition I'm doing a lot better. 7 out of 10 are good trades.
I use:
Gartley 222
Buttlerfly
AB=CD
The tree drives pattern
The 0-5 pattern
Bat pattern
Crab pattern
and the common ones like double tops and bottom, Head and shoulder, tripple tops and bottom, wow many. With everyone of them, there are fib mesures to confirm the pattern. Also harmonic numbers.
  • #54,249
  • Feb 17, 2008 5:25pm Feb 17, 2008 5:25pm
Quoting nAVIN2007
why i have no idea?
Different brokers, different liquidity providers (if they get price feed from them at all) or simply different price feed providers. It's always been like this on the Forex and always will be.
  • #54,250
  • Feb 17, 2008 5:31pm Feb 17, 2008 5:31pm
Quoting rav700
If there is a gap it needs to be filled so keep your eyes glued......this could be a good....trade....

Also Navin......
Why do you see 29 for what reason...Just out of curiosity my friend
29 because around there is support and my 23.6 fib level (daily chart)
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  • #54,251
  • Feb 17, 2008 5:41pm Feb 17, 2008 5:41pm
Quoting Carrera
Well after lost a lot of money with a lot of strategies, now using pattern recognition I'm doing a lot better. 7 out of 10 are good trades.
I use:
Gartley 222
Buttlerfly
AB=CD
The tree drives pattern
The 0-5 pattern
Bat pattern
Crab pattern
and the common ones like double tops and bottom, Head and shoulder, tripple tops and bottom, wow many. With everyone of them, there are fib mesures to confirm the pattern. Also harmonic numbers.
Thanx for the info. You said "your platform" supplied the CD leg. Which pattern recognition software or EAs do you use? How much judgement is required in interpreting patterns? (the textbooks always provide nice, ideal examples)
Darkness lies one inch ahead..
  • #54,252
  • Feb 17, 2008 5:41pm Feb 17, 2008 5:41pm
lol uh oh..
And your mouth dropped
  • #54,253
  • Feb 17, 2008 5:52pm Feb 17, 2008 5:52pm
prepare to get rich or whipped out in 10mins.

wohohohoho....*cough**cough*
wohohohohoh......
  • #54,254
  • Feb 17, 2008 5:52pm Feb 17, 2008 5:52pm
Quoting forexmoments
I'm not too sure if you can get such gap data to be honest. Alpari perhaps.
I'm demoing with Alpari... (they're showing the gap)
Darkness lies one inch ahead..
  • #54,255
  • Feb 17, 2008 5:55pm Feb 17, 2008 5:55pm
Ash

not too sure about you concept of filling gaps mate
  • #54,256
  • Feb 17, 2008 6:04pm Feb 17, 2008 6:04pm
Quoting rav700
Ash

not too sure about you concept of filling gaps mate
More often than not the market filled the gap b4 it resumes the trend (whether up or down) my chart had it at 1.9603 it is now doing at 1.9580 at least 23 pips is not bad in asian trading........just my 2 cents
  • #54,257
  • Feb 17, 2008 6:04pm Feb 17, 2008 6:04pm
wow, rightmove house price index offered a +ve % first time after 6 month decline, so what will happen today? continue to flat the long position?
  • #54,258
  • Feb 17, 2008 6:07pm Feb 17, 2008 6:07pm
Quoting rav700
If there is a gap it needs to be filled so keep your eyes glued......this could be a good....trade....
Enlighten me if I'm wrong, but I can't see how a missing data gap (as compared to a realtime "gap up/down") really tells you anything except that some price action occurred of which you know only the beginning and the end.
Darkness lies one inch ahead..
  • #54,259
  • Feb 17, 2008 6:09pm Feb 17, 2008 6:09pm
Quoting rav700
Ash

not too sure about you concept of filling gaps mate
There is your answer to gap filling my friend...I told you so........
  • #54,260
  • Edited 6:25pm Feb 17, 2008 6:17pm | Edited 6:25pm
Maybe this is the reason:

IMM DATA showed currency speculators continuing to reduce their bets against the USD for the fourth straight week in a row, with the value of net USD short positions dropping back to $6.66 bln in the wk to Feb 12 from $7.87 bln in the wk prior. Over the same wk, investors flipped back to be net short in Sterling by 13,933 contracts, the biggest net short position since March 14 2006, and vs a net long position of 5,358 contracts prior. Otherwise long positions in the high yielding Aussie, Kiwi and Canadian dollars rose while long positions in the Euro and Yen were reduced.

Just an info and not a reco!

PS: Gap already filled @ 1.9603.
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