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Cable Update (GBPUSD)

  • #66,601
  • May 19, 2008 9:17am May 19, 2008 9:17am
You can see the 4hr prev swing Lo at today's intraday Hi, 9623 . The resistance cluster included:

Pot Res = Offers 9625/35, Wk H3, 1hr/4hr and wkly Prev swing hi/lo, FRZ1, with Dly R1 pivot @ 9624-31 area.

Nice bearish regular divergence on 1min 15min 30min and 1hr oscillators with extreme readings on 5min at those current intraday highs, suggested a fair move down.
Attached Image
ex member
  • #66,602
  • May 19, 2008 9:46am May 19, 2008 9:46am
i think GBPUSD go down at 1.9440 for today .
  • #66,603
  • May 19, 2008 9:55am May 19, 2008 9:55am
Long since 9538...really hope it comes back, woke up to an EA I accidentally turned on that lost 80pips
  • #66,604
  • May 19, 2008 9:56am May 19, 2008 9:56am
Quoting tomaz55
put stop at 9540 locking in +47

tp 9440
closed short at 9479 for +108

will wait for retracement to short again
  • #66,605
  • May 19, 2008 9:59am May 19, 2008 9:59am
Good area to long as it is at the bottom of the trend line.

Should bounce back up and make a new high for tomorrow.
  • #66,606
  • May 19, 2008 10:05am May 19, 2008 10:05am
Quoting Moe
yep i sure did, made that back and then sum, like you say it's part of the game, you win someand lose some.
yeah for me bro
its not u win some u lose some
it goes a little like this

u lose some then u lose some more.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #66,607
  • May 19, 2008 10:13am May 19, 2008 10:13am
Quoting tomaz55
closed short at 9479 for +108

will wait for retracement to short again
well done tomaz, some great trading there...
Trading is 80% Emotional, 20% Technical
  • #66,608
  • May 19, 2008 11:20am May 19, 2008 11:20am
Is the cable going back up? It's just chilling down there at the resistance...
  • #66,609
  • May 19, 2008 11:28am May 19, 2008 11:28am
Hi GriffCo ,
I also went long now about 20 pips negative. As we are in a resistance , my feeling is this need to go up a bit if it is to break support below. I hope and pray this will go up . I got in to a stupid trade - as usual
Silly me!
BANDA333
  • #66,610
  • May 19, 2008 11:42am May 19, 2008 11:42am
Here we've got nice hidden bullish divergence on H1.
Attached Image (click to enlarge)
Click to Enlarge Name: hidden_bullish_divergence.GIF Size: 16 KB
  • #66,611
  • May 19, 2008 11:45am May 19, 2008 11:45am
Magic
thank you for the chart..........hope it will go up. "den kuyee"
BANDA333
  • #66,612
  • May 19, 2008 12:14pm May 19, 2008 12:14pm
its gonna go up to 1.9650 my tomorrow morning
  • #66,613
  • May 19, 2008 12:18pm May 19, 2008 12:18pm
Quoting roxxy23
its gonna go up to 1.9650 my tomorrow morning
What time is morning for you? And did you get that through trendline or what?
  • #66,614
  • May 19, 2008 1:34pm May 19, 2008 1:34pm
Quoting tomaz55
closed short at 9479 for +108

will wait for retracement to short again
man yur a great trader ...no emotion i see in yur trades it seems ..u set a target and leave till it reaches ..welldone man .keep doing what u do best
  • #66,615
  • May 19, 2008 2:01pm May 19, 2008 2:01pm
Quoting magictrader
Here we've got nice hidden bullish divergence on H1.
Actualy, you have a bearish divergence in that chart. When you spot divergence the indicator tell you the possible direction. Some time there is divergence but noting happen. The point is that your indicator tells you the direction.
  • #66,616
  • May 19, 2008 2:10pm May 19, 2008 2:10pm
Quoting Carrera
Actualy, you have a bearish divergence in that chart. When you spot divergence the indicator tell you the possible direction. Some time there is divergence but noting happen. The point is that your indicator tells you the direction.
For these http://www.babypips.com/school/hidden_divergence.html
and other sites and books it's bullish
  • #66,617
  • Edited 2:44pm May 19, 2008 2:27pm | Edited 2:44pm
Quoting magictrader
For these http://www.babypips.com/school/hidden_divergence.html
and other sites and books it's bullish
i agree but just as carrera say.......sometimes nothing happens ...dont enter based on it alone
Attached Image (click to enlarge)
Click to Enlarge Name: picture.JPG Size: 66 KB
  • #66,618
  • May 19, 2008 2:44pm May 19, 2008 2:44pm
Quoting nAVIN2007
i agree but just as carrera say.......sometimes nothing happens ...dont enter based on it alone
Yes, I know.
It's not a prediction but only tip. When some confirmation appears then I think it's high probability to go up.
  • #66,619
  • May 19, 2008 3:20pm May 19, 2008 3:20pm
Quoting magictrader
Yes, I know.
It's not a prediction but only tip. When some confirmation appears then I think it's high probability to go up.
looks like a flag to me bro ...will go down test bottom then up i think
  • #66,620
  • May 19, 2008 3:27pm May 19, 2008 3:27pm
Quoting magictrader
For these http://www.babypips.com/school/hidden_divergence.html
and other sites and books it's bullish
Thanks for the link. But now I'm really confused and the information bellow have a question to answer there.

Guys, as all you know I'm not a indicator trader, I'm a pattern recognition. This is why I like to understand this divergence topic.

If you could explain this I will apreciate it.
Doesn't means that I will bigin with laggings indicator but just to know something new.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: Divergence 2.png Size: 150 KB
Click to Enlarge Name: Divergence 3.png Size: 19 KB
Click to Enlarge Name: Divergence 4.png Size: 54 KB
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