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Cable Update (GBPUSD)

  • #68,881
  • Jun 3, 2008 5:52am Jun 3, 2008 5:52am
just see where I put the line..there the indicator tell bullish divergence.
  • #68,882
  • Jun 3, 2008 6:00am Jun 3, 2008 6:00am
Quoting B@by trader
just see where I put the line..there the indicator tell bullish divergence.
Divergence indicators are not reliable, in this case, it gave you a signal that was invalidated by the market...

I find divergence indicators most of the time useless, too much false divergences signals.
I find it easier to search for divergences manually on the chart.
Getting it right is NOT as important as not getting it wrong.
  • #68,883
  • Jun 3, 2008 6:09am Jun 3, 2008 6:09am
for you to have a divergence there, price should have made a new low and it didn't
  • #68,884
  • Jun 3, 2008 6:15am Jun 3, 2008 6:15am
There is a divergence pattern known as see-saw divergence, and this is an example of regular see-saw divergence (the point marked at X is the fulcrum of the see-saw) I wonder whether this is what is being referred to on the 1hr chart earlier?
Attached Image
ex member
  • #68,885
  • Jun 3, 2008 6:19am Jun 3, 2008 6:19am
Quoting bbmac
There is a divergence pattern known as see-saw divergence, and this is an example of regular see-saw divergence (the point marked at X is the fulcrum of the see-saw) I wonder whether this is what is being referred to on the 1hr chart earlier?
K.I.S.S

If there were a bullish divergence in the H1, then we would not be talking about it. It would be obvious on the chart.
Getting it right is NOT as important as not getting it wrong.
  • #68,886
  • Jun 3, 2008 6:29am Jun 3, 2008 6:29am
Quoting fxswing
K.I.S.S

If there were a bullish divergence in the H1, then we would not be talking about it. It would be obvious on the chart.
I agree there was no regular bullish divergence of any kind as a lower or equal low was not made by price at the lows of this morning. That said there are many valid and use-able hi-probability divergence patterns and the see-regular saw divergence is one of them if confirmed by regular divergence/extreme readings on the time frames below it. The effective Higher low on the 1hr came at that 9595-9610 support zone and the low at 9609 was just on the former res t/line from 14/3, so a fair set-up all in all.

Hi-probability divergence patterns are:
regular immediate
regular sequential
regular over/under
regular immediate see-saw
regular sequential see-saw

Hidden (reverse) immediate
Hidden (reverse) immediate see-saw.
ex member
  • #68,887
  • Jun 3, 2008 6:51am Jun 3, 2008 6:51am
this 9686 line has been touched 4 times already
its held pretty well so far
it was friday's support

can it hold longer because bernanke is about to speak
crazy volatility will be caused just by looking at him
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #68,888
  • Jun 3, 2008 6:59am Jun 3, 2008 6:59am
I see resistance from 9683 to 9694. Need break of 9700 for long position. What do you guys think?
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  • #68,889
  • Jun 3, 2008 7:02am Jun 3, 2008 7:02am
still looking the 2.0 area.. The price now may go up to 200ema or 100sma.. retrace for few pip and go up again...
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  • #68,890
  • Jun 3, 2008 7:09am Jun 3, 2008 7:09am
Quoting Mr.Sabah
still looking the 2.0 area.. The price now may go up to 200ema or 100sma.. retrace for few pip and go up again...
I notice you're also using Zigzag. How do you find it works for you?
  • #68,891
  • Jun 3, 2008 7:14am Jun 3, 2008 7:14am
Ok were back in last weeks range area, im still looking for 9800 area.
Got 3 buys 2 at the higher level as shown.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #68,892
  • Jun 3, 2008 7:17am Jun 3, 2008 7:17am
waiting for bear candle
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  • #68,893
  • Jun 3, 2008 7:18am Jun 3, 2008 7:18am
next stop 9740
from there i think im gonna enter a short for a quick pip
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #68,894
  • Jun 3, 2008 7:18am Jun 3, 2008 7:18am
my first stop will be 9790 second stop 9850 i been long since 9620, good luck to all.
If I Go Broke Trying Then I Will die happy.
  • #68,895
  • Jun 3, 2008 7:21am Jun 3, 2008 7:21am
mind u
this strong bullish move happened even though dollar is quite strong ATM especially infront of commodities


so when dollar retraces a bit cable might be pushed even further
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #68,896
  • Jun 3, 2008 7:24am Jun 3, 2008 7:24am
Quoting Moe
my first stop will be 9790 second stop 9850 i been long since 9620, good luck to all.
at last after witing for long time ago

I see Cable Movement and dare to Open Position on 1.9690 li'lbit late don't you think moe :d
Keep Learning and you'll get what you want...
  • #68,897
  • Jun 3, 2008 7:25am Jun 3, 2008 7:25am
Quoting salah k.
mind u
this strong bullish move happened even though dollar is quite strong ATM especially infront of commodities


so when dollar retraces a bit cable might be pushed even further
it was never to late buddy at 9660, now i don't know
If I Go Broke Trying Then I Will die happy.
  • #68,898
  • Jun 3, 2008 7:26am Jun 3, 2008 7:26am
Quoting forexmoments
I notice you're also using Zigzag. How do you find it works for you?
I used it to know the wave and trend.. never trust 100% to it but still work..
  • #68,899
  • Jun 3, 2008 7:29am Jun 3, 2008 7:29am
Quoting MasAdhi
at last after witing for long time ago

I see Cable Movement and dare to Open Position on 1.9690 li'lbit late don't you think moe :d
do you get in at 9690 if so my first stop will be 9790, so i don't think it's to late.
If I Go Broke Trying Then I Will die happy.
  • #68,900
  • Jun 3, 2008 7:29am Jun 3, 2008 7:29am
Quoting Moe
it was never to late buddy at 9660, now i don't know
yeah bro
feeling a bit down
but no biggy the market wont stop after this move
im gonna try to get some pips out of small retracements
"what doesn't bankrupt me, makes me stronger" modern nietzche
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