DislikedExcellant thread. GBP has broken the green merdian and approaches the red meridian again. the daily bars have touched the black merdian 9 of the last 10 days.Ignored
My eyes are bleeding.
Mr. Trend
Fundamental Analysis, Technical Analysis Or Graph Analysis? 28 replies
Charts, Charts, Charts! 1 reply
Forex Daily Charts Scanning “price action in and between charts” 2 replies
Few analysis methods 6 replies
DislikedExcellant thread. GBP has broken the green merdian and approaches the red meridian again. the daily bars have touched the black merdian 9 of the last 10 days.Ignored
DislikedExcellant thread. GBP has broken the green merdian and approaches the red meridian again. the daily bars have touched the black merdian 9 of the last 10 days.Ignored
DislikedI have been working with forks for over 25 years. I find them a valuable tool. I expect that often, your channels will be very similar to the indications of the fork.
I attach a closer view of the black fork on yesterdays chart.
For our unprofitable friend Mr Trend. I would suggest that traders that are not profitable yet, take advantage of the ideas and help available in these forums.
Ask questions and try new ideas, to see what works for you. I think your time can be better spent, than "crapping" on other contributors.Ignored
DislikedThis may be a dumb question but is there any reading a trader can find using the fork channel? I am intrigued with this versus my short term trend lines. Thanks in advance.Ignored
Dislikedhi all
in the chart we can see a divergence which as i understand means rising wave in the cable.
what do you guys think.Ignored
DislikedYour analysis certainly matches my above 3 charts depicting a weakening dollar. However, the GBP/USD is most difficult to analize technically right now because it is weakening too due to bad data and the subsequent bail out of carry traders of the GBP/JPY. While the pound is the daily range champion of the big 4 dollar crosses, it would be the most unpredictable directional trade at the moment in my opinion. AT this point I would be reluctant to long the pound until it closed solidly above 1.9540. Until then, it is the only one of the four major dollar crosses that I see a short bias. What happens next for the pound will be dependant on not only the dollar sentiment but the point at which the carry traders jump back on the yen shorts.Ignored
Dislikedseeing things a different way
lower highs, lower lows on a weekly chart with an expanding triangle.......err, bias is south, yet expect volatility and nothing defined yet!Ignored
DislikedGreat observation on the expanding triangle ghitz. Most people dont notice them and as you stated they often preclude a big move.
While it is early yet on sunday, my charts are showing an upward gap in the pound to 1.9550. This puts the pound above the 1.9540 level that I had mentioned and matches mosheber's bullish divergence. The other 3 of the big 4 have gapped gaining strength against the dollar as well.Ignored
DislikedHere is an updated GBP/USD chart showing the horizontal price channels I have been watching on the pound. The pound/US dollar cross has fallen down to the 1.9440 support line. with the U S dollar going sideways so far today, it is easy to see the Pound sentiment is still down. This chart suggests that if 1.9440 fails,1.9300 will be the next support.Ignored