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Cable Update (GBPUSD)

  • #272,641
  • Feb 22, 2011 9:59pm Feb 22, 2011 9:59pm
Quoting gsantri
Trying a little here.
I dont know if it will go up or down. But I think your chart is misunderstood..

MACD is a two line indicator... dont use these bar indicators for it.. they are just someone in FF made it.. nothing substantial..

I stay with the historic and principally accepted way of use of a indicator..

And MACD is never read in a bar chart pattern.. always a two line thing .. like scotastics (Sp)..

And if you see the real MACD in the two line chart pattern with the price of GBP/USD in same line chart format, their is no divergence.. or maybe a slightly bullish divergence..

But at the Fundamentally charged markets like it is right now.. all these divergences dont stand much.. RSI, Candles and PA pave a better trade.

Just my opinion, all the best.
  • #272,642
  • Feb 22, 2011 10:03pm Feb 22, 2011 10:03pm
USDX is going to change its momemtum to DOWN that can lead to cable usd go up , I think london market + high impact GBP news today will decide today's trend of GBPUSD + .
  • #272,643
  • Feb 22, 2011 11:30pm Feb 22, 2011 11:30pm
Quoting javapips
let's get back to work...

last night (london close) move down leave bullish divergent in 1 hour chart (look at your own chart)

this morning move that almost break last night move are the question..

15 chart, if she get down and can't break 1.610 will lead to a compression (ask Dr D for this, i don't know to much)

overall this market push me to pick the buyer side, will wait price to move down first..



note: in my schedule, price should reach 1.64 before this week end..,but if she keep moving like this maybe i will be sporter only..hip...
i think i will back to my first plan, down to around 1.601 so it will make perfect flat correction of wave 2 elliot wave.
if she move up, well maybe that's not my money.

and so, i will wait for 1.601 to buy, or after break last week high. to risky for me to enter at the middle like this....

my entry still too far...,so see u ( maybe after us open or tomorrow)..,

have a great trade..,

don't fight and lets smile...say cheeeeesssss....


.
I will be the number one Manager.
  • #272,644
  • Feb 22, 2011 11:45pm Feb 22, 2011 11:45pm
Quoting Purple
I dont know if it will go up or down. But I think your chart is misunderstood..

MACD is a two line indicator... dont use these bar indicators for it.. they are just someone in FF made it.. nothing substantial..

I stay with the historic and principally accepted way of use of a indicator..

And MACD is never read in a bar chart pattern.. always a two line thing .. like scotastics (Sp)..

And if you see the real MACD in the two line chart pattern with the price of GBP/USD in same line chart format, their is no divergence.. or maybe a slightly...
Thank you for giving enlightenment
Macd line included on chart below. Dunno why I prefer to use the bar, more visible perhaps.
But it works fine for me.. sometimes when it works

I do not have special education on trading, only took here and there. Here some references that I read
http://www.investopedia.com/articles...ACDdiverge.asp
http://www.trading-naked.com/Divergence.htm

All the best to you too.

Regards,
GS

PS: I'm thinking to close this trade, took too long. Franky fake could go the other way.
Attached Image
  • #272,645
  • Feb 23, 2011 12:25am Feb 23, 2011 12:25am
Yesterday LOW End was HIT @ 1.6103 (my Estimated @ 1.6110) but I doubt it because Sideways.
And I was too hasty to take Entry... But saved by BAD Connection, so I closed Trade.

Today, CABLE moving UP...
And Target Price @ 1.6252 as H4 Resistance will become Reality ??

Quoting Tsar
Second Target DOWN @ 1.6135 was Finished.
Cable go UP and... Watch H4 Resistance.

If can BROKE >> We will see Price @ 1.6357 for Criticcal Point for Full Blown Reversal !
Quoting Tsar
Bro manize,

First Target UP was Finished. And DOUBLE TOP. I'm not Sure still Bullish.
Take a Look in H1 - Harmonic Pattern... and Watch at Point W1 Res C

Always looking the GREAT, never left GOOD Point...
  • #272,646
  • Feb 23, 2011 12:35am Feb 23, 2011 12:35am
Quoting Tsar

Today, CABLE moving UP...
And Target Price @ 1.6252 as H4 Resistance will become Reality ??
First Target UP Price @ 1.6210

H1, H4 and Daily TREND = BULLISH
Weekly TREND = BEARISH
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-02-23_H1 Cable.JPG Size: 168 KB
Always looking the GREAT, never left GOOD Point...
  • #272,647
  • Feb 23, 2011 12:51am Feb 23, 2011 12:51am
Quoting Tsar
First Target UP Price @ 1.6210

H1, H4 and Daily TREND = BULLISH
Weekly TREND = BEARISH
plok plok plok, HIT.....
mine still open, target 1.6250...
L-H-LH-HH -> B // H-L-HL-LL -> B
  • #272,648
  • Feb 23, 2011 12:54am Feb 23, 2011 12:54am
HIT....

And Second Target @ 1.6252 ...

Quoting Tsar
First Target UP Price @ 1.6210

H1, H4 and Daily TREND = BULLISH
Weekly TREND = BEARISH
Always looking the GREAT, never left GOOD Point...
  • #272,649
  • Feb 23, 2011 12:55am Feb 23, 2011 12:55am
It's time to long , you're not late
Profit : 100 pips +
  • #272,650
  • Edited 1:18am Feb 23, 2011 12:59am | Edited 1:18am
Short at 6212 with stop at 6222

banks start fleeing again to the USD due to Libya worries....

......then again i could be wrong
  • #272,651
  • Feb 23, 2011 1:01am Feb 23, 2011 1:01am
open sell GBP/USD position 2 at 1,6217
  • #272,652
  • Feb 23, 2011 1:01am Feb 23, 2011 1:01am
Quoting seekerz
plok plok plok, HIT.....
mine still open, target 1.6250...
Put your TP @1.6232 ... Possible Reversal first, Bro
Always looking the GREAT, never left GOOD Point...
  • #272,653
  • Feb 23, 2011 1:04am Feb 23, 2011 1:04am
Anyone like to sell at the moment , you should be SL touched trades properly . All signals confirmed with high accuracy on long opportunities , don't try to against main follow and current price momemtum
  • #272,654
  • Feb 23, 2011 1:06am Feb 23, 2011 1:06am
Quoting Tsar
Put your TP @1.6232 ... Possible Reversal first, Bro
thanks..
L-H-LH-HH -> B // H-L-HL-LL -> B
  • #272,655
  • Feb 23, 2011 1:07am Feb 23, 2011 1:07am
Ok, got stopped out, stupid move i guess

now watch it drop right after i get stopped, I'll be so pissed
  • #272,656
  • Feb 23, 2011 1:12am Feb 23, 2011 1:12am
reloading short at 6217....no stop
  • #272,657
  • Feb 23, 2011 1:13am Feb 23, 2011 1:13am
Rate hike leaked, right?
  • #272,658
  • Feb 23, 2011 1:15am Feb 23, 2011 1:15am
Quoting Exciter135
Rate hike leaked, right?
I doubt it....it would've moved with more force
  • #272,659
  • Feb 23, 2011 1:19am Feb 23, 2011 1:19am
Libya has closed its oil ports, Qaddafi says he ready to fight to the end, this should cause more running to USD safety.
  • #272,660
  • Feb 23, 2011 1:31am Feb 23, 2011 1:31am
b4 london opening i can't trust to price actions however that was good for those whom did it.right now i do nothing and don think about buying
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