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Cable Update (GBPUSD)

  • #278,241
  • May 4, 2011 4:07am May 4, 2011 4:07am
Quoting forex_growth
hey bro would it be too bold to say that a butterfly or bat etc would be more effective on an 1hr TF than 15min? I find that I get alot of 15 mins but not many hourly - the 15min one dont always work.. about 50:50 really, I just tend to ignore them unless I find on bigger TF... but not too sure if difference?!

heres another indicator with 54 patterns for those who would like more access... sharings good
5 min one just plotted on GU and price went up close to the 100% of the wing top....

as I said I don't use it as there are some values there I don't understand and as it repaints often as this H4 or H1 (just take a look at the chart posted and see how many times the tip changed since yesterday)I don't even take it in consideration

for some it might work as for some work the fibo extensions or the S/R lines....for me,none of them work as I never dedicate myself to learning them
  • #278,242
  • May 4, 2011 4:08am May 4, 2011 4:08am
Some failure on first try obviously. Its still in a consolidation range, but all I really see is accumulation under the weekly support. I guess we'll see what we'll see.
  • #278,243
  • May 4, 2011 4:10am May 4, 2011 4:10am
Quoting bonus76
Higher time frame, News negative but price not going down.
yet
just leave it simmer for a while
in 3 h we have NFP pre's and in 5 other important US news
either scalp or stay a side in this choppy market.to use the gartley and to pick a buy based on this and a TP based on gartley on such big TF is a bit dangerous in my opinion.

please be careful
  • #278,244
  • May 4, 2011 4:11am May 4, 2011 4:11am
Quoting redbeben
yet
just leave it simmer for a while
in 3 h we have NFP pre's and in 5 other important US news
either scalp or stay a side in this choppy market.to use the gartley and to pick a buy based on this and a TP based on gartley on such big TF is a bit dangerous in my opinion.

please be careful
Not trading today and maybe 2morrow but seems like is forming a base for a upmove.
  • #278,245
  • May 4, 2011 4:13am May 4, 2011 4:13am
yeah I dont understand alot of the calculations when you use the indicator I put in...

thinking about it I guess we could use it with other areas of confluence, like you said - fibos, TL's MA's, R and S's etc... and then you have a better position and more reason to either buy or sell..


just some thinking out loud

Quoting redbeben
5 min one just plotted on GU and price went up close to the 100% of the wing top....

as I said I don't use it as there are some values there I don't understand and as it repaints often as this H4 or H1 (just take a look at the chart posted and see how many times the tip changed since yesterday)I don't even take it in consideration

for some it might work as for some work the fibo extensions or the S/R lines....for me,none of them work as I never dedicate myself to learning them
"Millionaires don't use astrology, billionaires do"
  • #278,246
  • May 4, 2011 4:14am May 4, 2011 4:14am
I just got bearish crab on EURUSD - I know not this thread but get that alot too with this indicator... see how it plays out

Quoting redbeben
5 min one just plotted on GU and price went up close to the 100% of the wing top....

as I said I don't use it as there are some values there I don't understand and as it repaints often as this H4 or H1 (just take a look at the chart posted and see how many times the tip changed since yesterday)I don't even take it in consideration

for some it might work as for some work the fibo extensions or the S/R lines....for me,none of them work as I never dedicate myself to learning them
"Millionaires don't use astrology, billionaires do"
  • #278,247
  • May 4, 2011 4:20am May 4, 2011 4:20am
Quoting forex_growth
I just got bearish crab on EURUSD - I know not this thread but get that alot too with this indicator... see how it plays out
hi there
could you please post a chart as well

I have no idea what a crab is ....except for the sea one
  • #278,248
  • May 4, 2011 4:22am May 4, 2011 4:22am
Quoting bonus76
Higher time frame, News negative but price not going down.
bad construction PMI but good final mortgage approvals.
impulse spike down first.
then demand prevailed near 6460.
while writing it is again into the channel.
does not mean it will surely go more up but i feel better than yesterday on bull side
lets see
Attached Image (click to enlarge)
Click to Enlarge Name: gusdh1.gif Size: 27 KB
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  • #278,249
  • May 4, 2011 4:22am May 4, 2011 4:22am
Quoting forex_growth
I just got bearish crab on EURUSD - I know not this thread but get that alot too with this indicator... see how it plays out

http://www.forexlive.com/184713/all/bis-sells-eurusd-34

BIS sells Eud/Usd
  • #278,250
  • May 4, 2011 4:25am May 4, 2011 4:25am
Quoting redbeben
hi there
could you please post a chart as well

I have no idea what a crab is ....except for the sea one

crabs...butterflys... bats...
hihihhhi we could open a 'zoo'

90% of traders use TA, indicators and prediction
  • #278,251
  • May 4, 2011 4:28am May 4, 2011 4:28am
no idea difference between them and bats and wombats and lobsters etc.. LOL

guess its the calculations... heres the example bro....

http://www.forexfactory.com/showthre...=1#post4591449

Quoting redbeben
hi there
could you please post a chart as well

I have no idea what a crab is ....except for the sea one
"Millionaires don't use astrology, billionaires do"
  • #278,252
  • May 4, 2011 4:28am May 4, 2011 4:28am
wonder if we could trade the animals LOL

Quoting _BBKing_
crabs...butterflys... bats...
hihihhhi we could open a 'zoo'

"Millionaires don't use astrology, billionaires do"
  • #278,253
  • May 4, 2011 4:34am May 4, 2011 4:34am
Quoting forex_growth
wonder if we could trade the animals LOL
?
http://www.forexpros.com/commodities/meats
90% of traders use TA, indicators and prediction
  • #278,254
  • May 4, 2011 4:39am May 4, 2011 4:39am


maybe the come under a mix of meats and exotics - especially the bats and butterflies....


Quoting _BBKing_
?
http://www.forexpros.com/commodities/meats
"Millionaires don't use astrology, billionaires do"
  • #278,255
  • May 4, 2011 4:48am May 4, 2011 4:48am
http://www.forexlive.com/184754/all/...-next-3-months
  • #278,256
  • May 4, 2011 4:52am May 4, 2011 4:52am
FROM S&P

PARIS (Standard & Poor's) Feb.22, 2011--Rising inflation in the U.K. and the
Eurozone poses a risk to the still shaky economic recovery and a dilemma for
central banks in Europe over how to respond, says Standard & Poor's today in
the report: "Europe's Inflation Dilemma Is Weighing On The Economic Outlook."

"On the one hand, central banks will be tempted to raise interest rates, a
typical way to fight inflation," said Standard & Poor's chief economist
Jean-Michel Six. "But on the other hand, a weak economic outlook among most
members of the European Monetary Union and the U.K., together with an
unresolved debt crisis among some sovereigns, still appears to call for an
accommodative monetary policy, with continued so-called nonstandard measures
and very low interest rates."

In view of these conflicting signals, the Bank of England's Monetary Policy
Committee (MPC) has so far tolerated a persistent overshoot of its 2%
inflation target, the report says. Headline inflation in the U.K. reached 4.0%
in January 2011, and real GDP contracted by 0.5% in the fourth quarter of
2010.

"Yet, with its credibility as an inflation fighter increasingly at stake, we
believe the MPC is likely to proceed with a first interest rate hike by the
autumn--or even sooner if GDP and other key economic indicators come in
stronger than expected," said Mr. Six. "We anticipate that the MPC's policy
rate, currently at 0.50%, will reach 1% by year-end and stick to an upward
trajectory in 2012."

Rising headline inflation in the eurozone, up to 2.4% in January 2011 compared
with 0.9% a year earlier, also presents the European Central Bank with a
difficult challenge, the report says. Uncertainty over the economic outlook
and the resolution of the sovereign debt crisis would support a still
explicitly accommodative monetary and a continuation of nonstandard measures
and very low interest rates. Yet, rising inflation, potentially stronger money
supply growth, and stronger economic growth in key countries of the eurozone,
such as Germany, would lead us to expect a gradual tightening form the next
quarter onward, with a first interest rate hike in the summer.

"The trade-off between the risks associated with each option leads us to
expect a suboptimal policy outcome of higher interest rates starting in the
autumn, but a continuation of the nonstandard measures well into 2012," said
Mr. Six.
90% of traders use TA, indicators and prediction
  • #278,257
  • May 4, 2011 4:56am May 4, 2011 4:56am
Hello, guys.

What do you think. Will be 6550 the turn point and the price go all they way down?

Josef
  • #278,258
  • May 4, 2011 5:13am May 4, 2011 5:13am
Quoting josef
Hello, guys.

What do you think. Will be 6550 the turn point and the price go all they way down?

Josef
i think this answer will come soon.
i see same upward like yesterday from 6460 to 6540
but now things are bit different
as i see on h1, price now above previous line (downward) lost @6570
at least can give first support near 6500
Attached Image (click to enlarge)
Click to Enlarge Name: gusdh1.gif Size: 27 KB
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  • #278,259
  • May 4, 2011 5:24am May 4, 2011 5:24am
is this a bullish flag in m15?
Attached Image (click to enlarge)
Click to Enlarge Name: gusdm15.gif Size: 13 KB
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  • #278,260
  • May 4, 2011 5:58am May 4, 2011 5:58am
I see that the cable struggle to climb, Gbp/Usd is in prossimity of a big bearish movement ?
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