The Bottom line here is, when they get close, I will dial down to a 15 min and look for an entry, such as.... Higher highs, Morning and evening stars, tweezers...ETC
On my chart they are quite even, but on yours they aren't. This highlights the weakness of relying on candle patterns, unless they are extreme (like a hammer where the shadow is 10x the body). Different FOREX servers simply have small price differences all the time.
Just because you get a set of tweezers on the 1 hr chart don't mean it is gonna turn and run, it could just signal a small retracement.
Ignored
Ya, that's why referred to "confirmation" in my post with the pic.. (though I doubt if they qualify as "tweezers" at all, not pronounced enough - otherwise they would appear as tweezers on both our charts, which they don't)
Not exactly a channel, just the top of the old falling wedge and the DTL formed by the last 4 hr high. It forms a good enough channel to trade. The green line will move and is just a determination of where the low will be when the price gets there, for example: if the next 4 hr candle starts, obviously the green line will move down.
Does any one agree with me that the pound seem to have more on the upside than on the down side? It has not been able to break down below the 100% retracement level on 4hr for the past 12hrs.
Divergence now seen on 15,30 & 1hr charts heading to go up.
Does any one agree with me that the pound seem to have more on the upside than on the down side? It has not been able to break down below the 100% retracement level on 4hr for the past 12hrs.
Divergence now seen on 15,30 & 1hr charts heading to go up.
Anyone with a different view?
Regards
Tolu
Ignored
Yes , because Im bullish on another GBP pair, but what do i know
Does any one agree with me that the pound seem to have more on the upside than on the down side? It has not been able to break down below the 100% retracement level on 4hr for the past 12hrs.
Divergence now seen on 15,30 & 1hr charts heading to go up.
Anyone with a different view?
Ignored
I'm seeing a downsloping triangle on H1 - lower highs (so far), bottom = yesterday's low, which usually means a downside breakout. It will be interesting to see what happens in the next 3 hr...
See, you are seeing it also. also, pair has broken a 4 hr uptrend line to the downside, making the trade down that FX was talking about to the downside more plausable. Pairs are just inactive at the moment
I'm seeing a downsloping triangle on H1 - lower highs (so far), bottom = yesterday's low, which usually means a downside breakout. It will be interesting to see what happens in the next 3 hr...
I'm seeing a downsloping triangle on H1 - lower highs (so far), bottom = yesterday's low, which usually means a downside breakout. It will be interesting to see what happens in the next 3 hr...
Ignored
ok, lets wait and see then. Time will alwasy tell. All the best bro.
See, you are seeing it also. also, pair has broken a 4 hr uptrend line to the downside, making the trade down that FX was talking about to the downside more plausable. Pairs are just inactive at the moment
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Do you wait for the breakout or preempt when you judge you have "sufficient evidence"? The prob with breakouts is they're often fakeouts - esp dip and turn..
See, you are seeing it also. also, pair has broken a 4 hr uptrend line to the downside, making the trade down that FX was talking about to the downside more plausable. Pairs are just inactive at the moment
Ignored
Damn thing must have heard us.. Almost as we spoke a small upside breakout of what was previously an almost perrfect downtrend..
Cable Update (GBPUSD)
