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Cable Update (GBPUSD)

  • #178,341
  • Oct 22, 2009 12:14pm Oct 22, 2009 12:14pm
hello Magic, can you explain why sell time.
thanks

bene
  • #178,342
  • Oct 22, 2009 12:16pm Oct 22, 2009 12:16pm
Quoting Aad
You mean this? JK!...
You'd do Linuxtroll proud with those charts
but they make me sea sick!!! LOL


Dr. D.
  • #178,343
  • Oct 22, 2009 12:17pm Oct 22, 2009 12:17pm
Quoting Bene
hello Magic, can you explain why sell time.
thanks

bene
Grabbed a head fake on the hourly....

SIGH...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #178,344
  • Oct 22, 2009 12:20pm Oct 22, 2009 12:20pm
Quoting Aad
Yeah, that was the first thing that came to mind but then I checked various other brokers as stated in my post (Alpari, ODL, FxPro, Broco, SigTrader, and FXcm) and they all looked the same except for IBfx. So far this seems to only be an issue on IBfx H4 charts.

I'm pretty sure that ODL is GMT 0 just like IBfx (unless they recently changed), so it seems to not necessarily be a timing issue, but perhaps it is...LOL!
Assuming you took those snapshots at roughly the same time, IBFX says roughly 155 minutes to bar closes and FXCM says 90 something, so I would say thats what it is.
  • #178,345
  • Oct 22, 2009 12:21pm Oct 22, 2009 12:21pm
Quoting fourxtrader
You'd do Linuxtroll proud with those charts
but they make me sea sick!!! LOL


Dr. D.
Haha! Yeah I never actually use it for trading, it's fun to look at the waves though once in a blue moon (at least for me)...
  • #178,346
  • Oct 22, 2009 12:32pm Oct 22, 2009 12:32pm
So where from here? I'd still like to see it drop further and bounce off of 1.6400. That would draw the ema's on the higher tf's into compression only to again build up even greater energy for yet another move back up to 1.6700 or above. I see these patterns as natural forces inherent in the markets just like steam rising from boiling water and condensations returning to the pot.

Dr. D.
Attached Images
  • #178,347
  • Oct 22, 2009 12:42pm Oct 22, 2009 12:42pm
Quoting Aad
Haha! Yeah I never actually use it for trading, it's fun to look at the waves though once in a blue moon (at least for me)...
I like your rabbit pic sitting at the PC on your bio.
Are you a sprinter.

My trading pattern should show a 'slug worm'...
slow and ugly, but gender is never in question.

Dr. D.
  • #178,348
  • Oct 22, 2009 12:47pm Oct 22, 2009 12:47pm
Quoting fourxtrader
So where from here? I'd still like to see it drop further and bounce off of 1.6400. That would draw the ema's on the higher tf's into compression only to again build up even greater energy for yet another move......
I don't see it happening. EMA's are separating in an
upward direction on all tf's. 1m - daily.

ATM, that should be a signal to some of a probable
trade direction since compression and reversals must
occur first on lower tf's.

Dr. D.
  • #178,349
  • Oct 22, 2009 1:32pm Oct 22, 2009 1:32pm
Quoting Aad
A pin bar that seems to appear only on IBfx, other brokers not so much...LOL!



Yeah, that was the first thing that came to mind but then I checked various other brokers as stated in my post (Alpari, ODL, FxPro, Broco, SigTrader, and FXcm) and they all looked the same except for IBfx. So far this seems to only be an issue on IBfx H4 charts.

[b][color=dimgray]I'm pretty sure that ODL is GMT...
I see what you mean... the comparative 4h
charts are skewed by 2 hrs. All others have
continuity.

I agree that the daily open on both platforms
is at 00.00 GMT whereas the current hourly
open are two hours apart; however, the ohlc
seem nearly the same on all tf's except the 4h.

1hr
Alpari - 20.00 GMT
IBFX - 18.00 GMT

Dr. D.
  • #178,350
  • Oct 22, 2009 1:41pm Oct 22, 2009 1:41pm
Trying 0.4 lot short from here. right below this TL.. @ 1.6622. Its just, USD is way to oversold while Pound should not be in this point. GU react harshly to the down side today. Daily View.
Attached Image
  • #178,351
  • Oct 22, 2009 1:47pm Oct 22, 2009 1:47pm
Good god how do you see anything on that chart with all those lines?
  • #178,352
  • Oct 22, 2009 2:15pm Oct 22, 2009 2:15pm
Quoting fourxtrader
I like your rabbit pic sitting at the PC on your bio.
Are you a sprinter.

My trading pattern should show a 'slug worm'...
slow and ugly, but gender is never in question.

Dr. D.


No I'm not a sprinter, but more of a slouching snail in disguised, he he...

Quoting fourxtrader
I see what you mean... the comparative 4h
charts are skewed by 2 hrs. All others have
continuity.

I agree that the daily open on both platforms
is at 00.00 GMT whereas the current hourly
open are two hours apart; however, the ohlc
seem nearly the same on all tf's except the 4h.

1hr
Alpari - 20.00 GMT
IBFX - 18.00 GMT

Dr. D.
I guess the more important concern would be, which H4 broker chart gives us the most accurate representation of the action that occurred. I do like the look of that pin bar as a possible good sign of some further up movement to come...
  • #178,353
  • Oct 22, 2009 3:30pm Oct 22, 2009 3:30pm
Both GU and EU have been acting very very very suspicious. Its like a volcano getting ready to erupt. The top is here, lets see what its all been about today. SL's ready guys.
You've got to be IN IT to WIN IT!
  • #178,354
  • Oct 22, 2009 3:40pm Oct 22, 2009 3:40pm
Quoting Ifty
Both GU and EU have been acting very very very suspicious. Its like a volcano getting ready to erupt. The top is here, lets see what its all been about today. SL's ready guys.

And what u do when H4 get again a fucking breakout. I'm not sure what i do now. Today i was only trading E/U. I wait here for a perfect moment to go short. A small pending order for short is in for 6700.
  • #178,355
  • Oct 22, 2009 3:41pm Oct 22, 2009 3:41pm
Looking at the wedge that is forming, and the heavy resistance around the 1.6640 region. Looking to scalp a quick short. in at 1.6628, tp 1.6604, sl 1.6642. see how this goes...
  • #178,356
  • Oct 22, 2009 3:42pm Oct 22, 2009 3:42pm
Quoting Xtravaganz
And what u do when H4 get again a fucking breakout. I'm not sure what i do now. Today i was only trading E/U. I wait here for a perfect moment to go short. A small pending order for short is in for 6700.
I too would rather short at 1.67 region rather than now, although the RSI on the 15 min is getting overbought and the price is reaching top of resistance. If it happens to drop then so be it. Plenty of opportunities all day every day so why rush in and lose pips. GL.
You've got to be IN IT to WIN IT!
  • #178,357
  • Oct 22, 2009 3:46pm Oct 22, 2009 3:46pm
Quoting mloistianto
Trying 0.4 lot short from here. right below this TL.. @ 1.6622. Its just, USD is way to oversold while Pound should not be in this point. GU react harshly to the down side today. Daily View.
Maybe your right!

But why short against a raging bull?

I suggested 1.6700 this morning and it was laughed at, there was talk of 1.6000 etc
  • #178,358
  • Oct 22, 2009 3:52pm Oct 22, 2009 3:52pm
Foreign central banks heart the dollar
Written by Jamie Coleman
October 22, 2009 at 20:36 GMT

For all the winging and moaning about the dollar, foreign central banks continue to scoop them up and plop them into US Treasuries. Holdings of Treasuries at the NY Fed rose $28.6 bln in the last week alone.

Remember, when you hear reports of Russia, Korea, Brazil and all the others int4rvening to buy dollars, most if not all end up in Treasuries, keeping US rates low (which the central banks then complain about).

When the central banks let their currencies strengthen and stop adding to billions to their reserves, the world will be a better place and the global economy will come into better balance.
  • #178,359
  • Oct 22, 2009 3:53pm Oct 22, 2009 3:53pm
Whats a good price to enter in cable for long to ride the bull?
  • #178,360
  • Oct 22, 2009 4:00pm Oct 22, 2009 4:00pm
Quoting kingfisher
Whats a good price to enter in cable for long to ride the bull?
I agree bro but after a little retrace. Take a look at the daily chart. Its BULL BULL BULL all the way.
You've got to be IN IT to WIN IT!
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