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Daily candle chart

  • #4,661
  • Feb 5, 2009 4:11am Feb 5, 2009 4:11am
Well sometimes there are slight differences between brokers but really it shouldn't be much ,defiantly not on the daily,its difficult Q I see all the time ,I would just trade what you see

Quoting RedCabbage
Hi Bones

I appreciate we all work from the same basic data, however traders in the US and Europe sometimes don't see what I do and vice versa due to the location of their broker/chart provider. this obviously affects the way the market reacts.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #4,662
  • Feb 5, 2009 4:14am Feb 5, 2009 4:14am
Quoting Bones
Thu
Feb 5 9:00 GBP
Halifax HPI m/m
http://www.forexfactory.com/images/m...etail_star.gif 1.9%
-1.7%-1.6%http://www.forexfactory.com/images/m...us_revised.gif



I will Admit to be being a little concerned,Hussin you know I know its wrong to assess things in your own little micro world but right know the interest rate drops are feeding through to the public as I was saying,making a huge difference to disposable income,I have noticed alot of...
Hi guys,Bones there is a real risk that if rates are held then the ftse might tank,so I expect some sort of cut.But youre right to consider the possibility.Even a .25 cut would send cable flying.
  • #4,663
  • Feb 5, 2009 4:34am Feb 5, 2009 4:34am
Quoting Bones
Well sometimes there are slight differences between brokers but really it shouldn't be much ,defiantly not on the daily,its difficult Q I see all the time ,I would just trade what you see
You're right the dailys don't vary that much is just the 4h.

Just one final question do you use ODL in the UK or US?

Great thread
  • #4,664
  • Feb 5, 2009 5:23am Feb 5, 2009 5:23am
Quoting trader2160
Hi guys,Bones there is a real risk that if rates are held then the ftse might tank,so I expect some sort of cut.But youre right to consider the possibility.Even a .25 cut would send cable flying.
Hi guys,

Just to confirm, a rate cut will make the currency to be more attractive?

thanks,
  • #4,665
  • Feb 5, 2009 5:56am Feb 5, 2009 5:56am
Quoting riff
Hi guys,

Just to confirm, a rate cut will make the currency to be more attractive?

thanks,
Sorry for not replying earlier,If cut is less then expected then it will make it attractive.wait for things to settle a bit before taking a position.
  • #4,666
  • Feb 5, 2009 6:53am Feb 5, 2009 6:53am
To be clear Redcabbage there is no difference in the actual data from broker to broker only how it is chopped up.
I use the SIG MT4 as I use the LFX index’s for the majors’ currency strength and it easier all in one place.
& the daily close is 10 GMT so in a reasonable time for decisions….
Also the week ends on the Friday at close which means no Sunday bars as Sun +Mon are one and you can assess the weekly over the weekend.
Hope this helps with your decision process.

Quoting RedCabbage


You're right the dailys don't vary that much is just the 4h.

Just one final question do you use ODL in the UK or US?

Great thread
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #4,667
  • Feb 5, 2009 8:29am Feb 5, 2009 8:29am
Im seeing the USDLFX is consolidating,and cable has broken out.
Im also thinking we can now confirm the piercing line on the weekly
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 27,usdlfx ,h4 -5-2-9.gif Size: 25 KB
Click to Enlarge Name: 26,gbp-usd H4 -5-2-9.gif Size: 22 KB
Click to Enlarge Name: 22 -usd-gbp,weekly -5-2-9.gif Size: 20 KB
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  • #4,668
  • Feb 5, 2009 9:21am Feb 5, 2009 9:21am
Quoting Bones
Im seeing the USDLFX is consolidating,and cable has broken out.
Im also thinking we can now confirm the piercing line on the weekly
i think you might as well wait untill FRIDAY evening,see what the WeeKly set up looks like,unless a PIN is seen today.
We will end up with a 2nd Bullish week,if it closes above last weeks high.
the 20 ema is the Key at the momment.

baz
  • #4,669
  • Feb 5, 2009 9:31am Feb 5, 2009 9:31am
Yesterday gave us an indecisive doji but price action today has (so far) shown us that bullish behaviour is still the order of the week.
The current daily candle has just this moment made a new high for February.

Quoting baz
i think you might as well wait untill FRIDAY evening,see what the WeeKly set up looks like,unless a PIN is seen today.
We will end up with a 2nd Bullish week,if it closes above last weeks high.
the 20 ema is the Key at the momment.

baz
  • #4,670
  • Feb 5, 2009 9:43am Feb 5, 2009 9:43am
Well my friends I think the move today is significant ,but I know all to well it can change in a flash ,I will be shocked if we get a Pin today.
Attached Image (click to enlarge)
Click to Enlarge Name: 28-gbp-usd daily -5-2-9.gif Size: 25 KB
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  • #4,671
  • Feb 5, 2009 9:53am Feb 5, 2009 9:53am
i see the hold up tho USDLFX consolidating,GBPLFX hit a brick wall....
Attached Image (click to enlarge)
Click to Enlarge Name: 28-gbplfx -4hr -5-2-9.gif Size: 25 KB
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  • #4,672
  • Feb 5, 2009 10:09am Feb 5, 2009 10:09am
Quoting Bones
Well my friends I think the move today is significant ,but I know all to well it can change in a flash ,I will be shocked if we get a Pin today.
1.4800 on the Cards Now.

baz
  • #4,673
  • Feb 5, 2009 10:15am Feb 5, 2009 10:15am
Id say it was a spinning top
a spinning top in trend can be continuation ,a rest if you like.


Quoting priceaction
Yesterday gave us an indecisive doji but price
action today has (so far) shown us that bullish behaviour is still the order of the week.
The current daily candle has just this moment made a new high for February.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #4,674
  • Feb 5, 2009 10:53am Feb 5, 2009 10:53am
Quoting Bones
Well my friends I think the move today is significant ,but I know all to well it can change in a flash ,I will be shocked if we get a Pin today.
I'm currently short and looking for the daily to be a pin. We'll see though how she turns out.
Just digging in the trenches like everyone else!
  • #4,675
  • Feb 5, 2009 11:35am Feb 5, 2009 11:35am
hello mr husin.. where are u going..all trader need ur analyze

Quoting eohater
I'm currently short and looking for the daily to be a pin. We'll see though how she turns out.
  • #4,676
  • Feb 5, 2009 12:46pm Feb 5, 2009 12:46pm
Quoting Bones
Well my friends I think the move today is significant ,but I know all to well it can change in a flash ,I will be shocked if we get a Pin today.
Bones,dont be shocked if it happens,The profesional Money have a big say in where they take positions,and FALSE moves are the reasons where the small guy gets clobbered.

baz
  • #4,677
  • Feb 5, 2009 12:52pm Feb 5, 2009 12:52pm
You are right Baz I'm am treading carefully with my gbp usd and gbp jpy longs,I have my eye on the $
I have seen the weakness on the 1 hour cable ,but still we are above the TL.

Tony
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  • #4,678
  • Feb 5, 2009 1:03pm Feb 5, 2009 1:03pm
Quoting Bones
You are right Baz I'm am treading carefully with my gbp usd and gbp jpy longs,I have my eye on the $
I have seen the weakness on the 1 hour cable ,but still we are above the TL.

Tony
there is a PIN on the 3 hr charts,and at a Round number @1.4700,also a TRENDLINE SUPPORT at lows of 31/12, 2/01,13/01 is now met today from the underside.

baz
  • #4,679
  • Feb 5, 2009 1:11pm Feb 5, 2009 1:11pm
Have you seen the Gbp -JPY tho baz ,the pound has been brought and the JPY has been sold to a great extent,Im really not seeing a Daily Pin or shooting star.
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  • #4,680
  • Feb 5, 2009 1:16pm Feb 5, 2009 1:16pm
Quoting Bones
Have you seen the Gbp -JPY tho baz ,the pound has been brought and the JPY has been sold to a great extent,Im really not seeing a Daily PIn or shooting star.
i dont trade suhies,BUT the 4 hr GBP/JPY has at present capped by previous ressistance at 135.75
My 4hr will close at 8.00 uk time.
But you must stick to your MM and Plan,thats why there is PRICE MOVEMENT,difference of Views....

baz
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