after opening gu will go to 5490 at least on monday morning. Might retrace during europe open
DislikedBearish week as commented above with a decisive downside breech of both the ascending Daily t/f trend line/channel bottom and the 4hr descending channel bottom. The Friday lo occurred on the 61.8% of the daily swing 5123-6297. There are arguably 5 swing lo's to the 6297 swing hi on the daily t/f from which to plot fibs retraces, these are the 4225, 4342, 4945, 5123 and 5296 swing lo's...but the most important of these are probably the 4225 and 5296 lo's as these correspond to obvious weekly swing lo's too. These are in bold below.
can u share me your ideas?
right now market is closed on 1.5587 and i wanna know if there would be any correction (uptrend moving)?
you know if u watch 4h and Daily the whole week was bearish and i believe there must be some correction, if you are agree with me how much do u think it goes uptrend?
thank you for your helpIgnored
Dislikedhello guys. can u share me your ideas?..right now market is closed on 1.5587 and i wanna know if there would be any correction (uptrend moving)? You know if u watch 4h and Daily the whole week was bearish and i believe there must be some correction, if you are agree with me how much do u think it goes uptrend? thank you for your helpIgnored
Disliked.......here is my 2 cents. Been using this system for awhile now over in my thread, Cable 101. I guess what I am hearing from you kinda confirms my plight.....LOL Ok, 4 hr is oversold, but I didnt really have a lot of faith in the O/S term in the first place.
Where it really gets interesting is on the Daily here shown in the first chart you see the 89 SMA with the close below. The reason I always dwell on the 89 SMA is because this is the MA the pros use to determine overall trend. If you read James Dicks book you can find that fact in there....Ignored
DislikedSeems everybody going short... I am started to be long at 1.5619 on friday...Ignored
DislikedPersonally I ended the week flat. I think a lot will be holding short though. Will be interesting to see where the stops are if a pullback does develop soon.
I always find your analysis interesting. I would comment on the points you make as under;
a. I agree 4hr is indeed 'oevrsold' on certain oscillators/settings but as you know has been for a couple of hundred pips or so - lol, That is what a downtrend is of course 'oversold' so in a sense I agree that it is a misleading term.
b. Interesting that you ma's in your analysis, I don't really use them other than 100 and 200sma on 1hr + and then more for confluence than anything else.
c. I determine trend by overall price action (opa) analysis,...Ignored