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Cable Update (GBPUSD)

  • #255,741
  • Sep 24, 2010 6:27am Sep 24, 2010 6:27am
Quoting PipChick
Ohhhhhhhh why do you want it to go to 5530?
Still carying two large shorts from there left over from Fed news day. I was happily long going into news but scalping the short side. Just before the news I tried to close the shorts, requote. Try again, requote. Then the news is out and no chance of closing them. Closed the longs since, still got the shorts left and hoping for a revisit.
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  • #255,742
  • Sep 24, 2010 6:28am Sep 24, 2010 6:28am
Quoting Uphios
Terrific. That's what I figured but just wanted your confirmation.

Now if you can just produce a chart that MAKES it go down to 1.5530 area, that would be great
So now....you can find entries off the smaller timeframes by following the same scenario as described in this H1 chart. IE: fib pullback with bullish HD is your entry long. So you only look for two things. Now...if price does close below the blue TL and gets to the 78.6, to stay in a short position, you want to make sure there is NO bullish HD formed when/if price gets to the 786. If there is Bullish HD, price is going to bounce off the 78.6 and head north.
Attached Image (click to enlarge)
Click to Enlarge Name: GU 1.gif Size: 27 KB
  • #255,743
  • Sep 24, 2010 6:29am Sep 24, 2010 6:29am
Quoting Uphios
Still carying two large shorts from there left over from Fed news day. I was happily long going into news but scalping the short side. Just before the news I tried to close the shorts, requote. Try again, requote. Then the news is out and no chance of closing them. Closed the longs since, still got the shorts left and hoping for a revisit.
Let me see where this may turn then...
  • #255,744
  • Sep 24, 2010 6:32am Sep 24, 2010 6:32am
Hi Guys,

Quick question for you concerning MACD Oscillator and Convergence/Divergence.

In a couple of places I have read it says you should compare the MACD H/H with PA HH and reverse for L/L

In a couple of other places they recommend comapring Histogram H/H with PA H/H and reverse for L/L.

Can anyone give any advice for which is better and why.

Thanks in advance.

V
  • #255,745
  • Sep 24, 2010 6:34am Sep 24, 2010 6:34am
Quoting Uphios
Still carying two large shorts from there left over from Fed news day. I was happily long going into news but scalping the short side. Just before the news I tried to close the shorts, requote. Try again, requote. Then the news is out and no chance of closing them. Closed the longs since, still got the shorts left and hoping for a revisit.
Anything is possible with US data coming but I really see this thing going to 5993 before reversing.. especially if the DX breaks this area where it is sitting now.79.77 area.
  • #255,746
  • Sep 24, 2010 6:38am Sep 24, 2010 6:38am
Quoting PipChick
Anything is possible with US data coming but I really see this thing going to 5993 before reversing.. especially if the DX breaks this area where it is sitting now.79.77 area.


No probs, if it gets beyond yesterdays high I will add long to balance things out for a while.

Thanks for the heads up.
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  • #255,747
  • Sep 24, 2010 6:38am Sep 24, 2010 6:38am


Quoting Uphios


No probs, if it gets beyond yesterdays high I will add long to balance things out for a while.

Thanks for the heads up.
  • #255,748
  • Sep 24, 2010 6:40am Sep 24, 2010 6:40am
Hi Pipchick,

Great analysis. Is that MACD with the Bull HD or Osma and what are your settings

Many thanks
  • #255,749
  • Sep 24, 2010 6:41am Sep 24, 2010 6:41am
Quoting PipChick
Anything is possible with US data coming but I really see this thing going to 5993 before reversing.. especially if the DX breaks this area where it is sitting now.79.77 area.
If you don't mind me asking do you use an indicator to track the DX or a website? I have a USDx indicator on my MT4 paltform but on the GBPUSD I have a reading of 75.83 on the 1hr chart?
Today's zone = Tomorrow's opportunity!
  • #255,750
  • Sep 24, 2010 6:46am Sep 24, 2010 6:46am
Quoting Indyfx
Hi Pipchick,

Great analysis. Is that MACD with the Bull HD or Osma and what are your settings

Many thanks
Use this MACD with 12/24/9 settings
Attached File(s)
File Type: mq4 MACD Adjustable.mq4   4 KB | 265 downloads
  • #255,751
  • Sep 24, 2010 6:47am Sep 24, 2010 6:47am
Quoting PipChick
Use this MACD with 12/24/9 settings
Many thanks
  • #255,752
  • Sep 24, 2010 6:52am Sep 24, 2010 6:52am
Quoting pres78
If you don't mind me asking do you use an indicator to track the DX or a website? I have a USDx indicator on my MT4 paltform but on the GBPUSD I have a reading of 75.83 on the 1hr chart?
I use Broco trading platform and chart it just as I do the GU. You will notice that the DX h1 and the GU H1 are very similar.
Attached Image (click to enlarge)
Click to Enlarge Name: DX.gif Size: 13 KB
  • #255,753
  • Sep 24, 2010 6:54am Sep 24, 2010 6:54am
Quoting PipChick
I use Broco trading platform and chart it just as I do the GU. You will notice that the DX h1 and the GU H1 are very similar.
Thanks so much for the reply...
Today's zone = Tomorrow's opportunity!
  • #255,754
  • Sep 24, 2010 6:55am Sep 24, 2010 6:55am
Quoting Uphios
Still carying two large shorts from there left over from Fed news day. I was happily long going into news but scalping the short side. Just before the news I tried to close the shorts, requote. Try again, requote. Then the news is out and no chance of closing them. Closed the longs since, still got the shorts left and hoping for a revisit.
I have 2 shorts left open too,price must get back there where it started.
  • #255,755
  • Sep 24, 2010 6:57am Sep 24, 2010 6:57am
Quoting PipChick
Well, I've put my pending long on at first break of neck line, agreed not the proper way to play a H&S but under the circumstances.....

Must remember to take it off tonight because my current brokers like to play with the spread. They have opened it up to 40 points in the past which may be enough to trigger a ridiculous long. I only use them because Navin1000, when he was just Navin700, said they were O.K.
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  • #255,756
  • Sep 24, 2010 6:58am Sep 24, 2010 6:58am
Hi Pipchick

It looks to me like you use the Histogram H/H and L/L to check for divergence.Re my earlier question is this the accepted norm.I was wondering why one site was advocating the MACD line H/H and L/L for divergence checks.

Thanks again.


V
  • #255,757
  • Sep 24, 2010 6:58am Sep 24, 2010 6:58am
So the FE's are the ABC targets....but what else do we see on the H1 chart?
Attached Image (click to enlarge)
Click to Enlarge Name: GU 3.gif Size: 16 KB
  • #255,758
  • Sep 24, 2010 7:00am Sep 24, 2010 7:00am
Quoting Villonius
Hi Pipchick

It looks to me like you use the Histogram H/H and L/L to check for divergence.Re my earlier question is this the accepted norm.I was wondering why one site was advocating the MACD line H/H and L/L for divergence checks.

Thanks again.


V
I use the histogram to find the div,but its really powerful if your MA's are crossing up when the histogram forms hidden divergence. (speaking of long)
  • #255,759
  • Sep 24, 2010 7:06am Sep 24, 2010 7:06am
Attached Image
  • #255,760
  • Sep 24, 2010 7:07am Sep 24, 2010 7:07am
Quoting PipChick
So the FE's are the ABC targets....but what else do we see on the H1 chart?
Inverse HS

Now US data can violate this whole set up but it gives you an edge. Couple it with the DX ( make sure the DX breaks levels around the same time or before the GU does for added confirmation) If you want to trade the smaller TF's , map this out on the H1 and drop to the lower TF and do the same thing.
Attached Image (click to enlarge)
Click to Enlarge Name: GU 4.gif Size: 20 KB
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