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Cable Update (GBPUSD)

  • #265,681
  • Dec 2, 2010 2:40am Dec 2, 2010 2:40am
Quoting Cobby
price struggling to get back above the daily pivot
i have it at 1.56012
same here
ex member
  • #265,682
  • Dec 2, 2010 2:45am Dec 2, 2010 2:45am
I see this move down as a bit of a bluff. I still think its a good time to go long. Time will tell...
  • #265,683
  • Edited 2:58am Dec 2, 2010 2:46am | Edited 2:58am
...strikes me more like markdown behaviour pre-news release. Won't bother with the charts, as I think we are all seeing the approach of possible turnaround points, be it with the use of fibs, MAs, short term S&R.

Will wait for the news to come out, and see where to go from there.

I'm seeing 1.5580 region as bottom, but ain't going to pick it.
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #265,684
  • Dec 2, 2010 3:00am Dec 2, 2010 3:00am
Construction Pmi due in 30mins in Uk is not historically the biggest mover of this pairing to say the least, but with all the emphasis on the construction sector that has beeing showing strength lately in other surveys and as part of the overall GDP growth, and with emphasis on recovery, the number has been watched closely of late. Remember with these Pmi surveys over 50 is considered expansionary, under 50 is not considered good. 51.1 is the forecast against 51.6 last time...will yeterday's strong manufacturing pmi be replicated today ?

G/L
ex member
  • #265,685
  • Dec 2, 2010 3:03am Dec 2, 2010 3:03am
i have L3 at 1.5582
mid P-S1 @ 1.5578
and weekly low @ 1.5576
  • #265,686
  • Dec 2, 2010 3:06am Dec 2, 2010 3:06am
...and of course, it is no secret that these figures are sometimes known in advance of publication, and thus provide for confusing charts as the players have already made their moves.

Hey, I ain't into conspiracy, but I think something else is going down...
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #265,687
  • Dec 2, 2010 3:07am Dec 2, 2010 3:07am
Quoting Cobby
i have L3 at 1.5582
mid P-S1 @ 1.5578
and weekly low @ 1.5576
current weekly lo 5483 here ?
---------------------------------

G/L-----------

1min led the way there with the bullish divergence play at the confluence of top of previous 1hr swing lo zone/1hr ascending trend line/topside of breeched 4hr descending trend line
Attached Image
ex member
  • #265,688
  • Dec 2, 2010 3:08am Dec 2, 2010 3:08am
Quoting 45Condor
...and of course, it is no secret that these figures are sometimes known in advance of publication, and thus provide for confusing charts as the players have already made their moves.

Hey, I ain't into conspiracy, but I think something else is going down...

Hopefully it won't be cable going down....
  • #265,689
  • Dec 2, 2010 3:13am Dec 2, 2010 3:13am
last weeks low @ 1.5576 ... my bad
  • #265,690
  • Dec 2, 2010 3:15am Dec 2, 2010 3:15am
Near-term 1hr screenshot like this now:

G/L
http://www.easy-upload.net/fichiers/z.2010122101541.gif
ex member
  • #265,691
  • Dec 2, 2010 3:18am Dec 2, 2010 3:18am
I'm hoping we can finally break 1.5650
  • #265,692
  • Dec 2, 2010 3:22am Dec 2, 2010 3:22am
Now that's naughty, invalidating the markdown hypothesis and hold of price for better long entry.
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #265,693
  • Dec 2, 2010 3:25am Dec 2, 2010 3:25am
Quoting fuse
I'm hoping we can finally break 1.5650

yeh that has seen 2 x pullback attempts rebuffed lower, the last being yesterday's Hi of course, - top of previous 1hr/4hr swing hi x 2, bottom of previous 4hr/daily swing lo zone, 23.6% 6183-5483 at that yesterday's hi

G/L
ex member
  • #265,694
  • Dec 2, 2010 3:26am Dec 2, 2010 3:26am
Quoting bbmac
current weekly lo 5483 here ?
---------------------------------

G/L-----------

1min led the way there with the bullish divergence play at the confluence of top of previous 1hr swing lo zone/1hr ascending trend line/topside of breeched 4hr descending trend line

Hello bbmac, always appreciate your comment, have one question: which indicators do you use?

I use TRIX on all TF - also on M1 and M5, but I noticed several times that we don't see same divergences.


thank you for answer

btw: on EU waiting for long - need confiramtion for inverted H&S
Attached Image (click to enlarge)
Click to Enlarge Name: 0843 1min rev d - Copy.gif Size: 46 KB
  • #265,695
  • Dec 2, 2010 3:28am Dec 2, 2010 3:28am
Quoting pipgame
Hello bbmac, always appreciate your comment, have one question: which indicators do you use?

I use TRIX on all TF - also on M1 and M5, but I noticed several times that we don't see same divergences.


thank you for answer

btw: on EU waiting for long - need confiramtion for inverted H&S
osma - standard MT4
macd - standard MT4
CCi around a 20bol

settings are propriietary info, sorry.

G/L

data in 3mins
ex member
  • #265,696
  • Dec 2, 2010 3:41am Dec 2, 2010 3:41am
You understand that MT4's osma is just a histogram of the area between the 2 x lines on a standard conventional macd and that MTw's standard macd is actually a histogram of the signal line. The thing about oscillators is that they can develop repeating patterns...so it's a case of finding some settings and see-ing which if any patterns of divergence or extremes repeat, should you want to incorporate this tech phenomenon into your trading edge.

G/L
ex member
  • #265,697
  • Dec 2, 2010 3:43am Dec 2, 2010 3:43am
Don,t take chances if your finances so important to you
Who has improved his finances by forex this year?
  • #265,698
  • Dec 2, 2010 3:47am Dec 2, 2010 3:47am
Quoting bbmac
osma - standard MT4
macd - standard MT4
CCi around a 20bol

settings are propriietary info, sorry.

G/L

data in 3mins

many thanks, Iwill try to find settings.......
  • #265,699
  • Dec 2, 2010 3:53am Dec 2, 2010 3:53am
Finishing here for the day after a nice push to upside, 0930 1min candle closed as a master bullish thrust engulfing x 9, ie engulfed the previous 9 candles on that t/f and with the hidden diverghence nice long play trigger.

Uk data came in better than last month and forecast @ 51.8.

Final look at 1hr near-term screenshot is below as is 0930 1min hidden divergence based set-up.

Eu and U.s data later.

G/L

http://www.easy-upload.net/fichiers/z.201012210523.gif

http://www.easy-upload.net/fichiers/...0122104956.gif
ex member
  • #265,700
  • Dec 2, 2010 3:56am Dec 2, 2010 3:56am
Quoting 45Condor
...and of course, it is no secret that these figures are sometimes known in advance of publication, and thus provide for confusing charts as the players have already made their moves.

Hey, I ain't into conspiracy, but I think something else is going down...
Well of course....... how else would the market work when their is money involved there will be 'those who know how too work it' and those who don't
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