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Cable Update (GBPUSD)

  • #329,981
  • Nov 15, 2012 5:12pm Nov 15, 2012 5:12pm
Quoting fxtyrant
FML dude... im pulling an all nighter to finish this stupid HRM project due tomorrow 6PM..... i might be moody cuz i got 2 straight night of no sleep and living off red bull literally...
also i got a fucking 55% in my finance Test which shocked my professor and me.... my professor is demanding my papert to be rechecked because i think the external market may have made some mistakes.... (for example leaving a question un marked as i havent put 1 of the question numbers on the front page but have attempted the question)..... that QUESTION is worth...
Crikey dude, sounds like you need to get Les Grossman onto that Beaurocrat
Come with me if you want to live....
  • #329,982
  • Nov 15, 2012 5:16pm Nov 15, 2012 5:16pm
Quoting fxtyrant
that sounded so wrong... but buddy are you sure??
Looks more like a Broken Trendline, a retest and today maybe the rejection??
Attachment
C:UsersTomPicturesForexDivergence_weird!.png
Attached Image (click to enlarge)
Click to Enlarge Name: Divergence_weird!.png Size: 60 KB
Trading comes quickly, patience and discipline does not!
  • #329,983
  • Nov 15, 2012 5:21pm Nov 15, 2012 5:21pm
Just took a long postion
  • #329,984
  • Nov 15, 2012 5:38pm Nov 15, 2012 5:38pm
Quoting Daddypips
C:UsersTomPicturesForexDivergence_weird!.png
it doesnt matter... Both divergence were NOT time to short..... if those BEARISH divergence happened when EMA 55 (blue ema) is above EMA 200 (red ema), THEN it is time to short....
but from the chart you see.... Both those Bearish Divergence Happened when EMA 55 (blue ema) is BELOW EMA200 (red ema)
so i wont be shorting those divergence signals...

HOWEVER if the divergence signal comes in as perfect as this... I WOULD SHORT the shit out.

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 3.gif Size: 24 KB


YOu see the Bearish Divergence occured when EMA55 is above EMA 200? what happened?? price tanked all the way down to ATLEAST back to the EMA 200 (red ema line)

Same goes vice versa for Bullish Divergence when EMA 55 is BELOW EMA 200...

Besides this chart might make you think a bit more about Divergence....
i plotted 2 white lines to show you... WHEN an RSI divergence occurs it occurs EXACTLY ON THE CANDLE not the next one where a higher high is formed....
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 4.gif Size: 24 KB
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #329,985
  • Nov 15, 2012 5:44pm Nov 15, 2012 5:44pm
Quoting fxtyrant
it doesnt matter... Both divergence were NOT time to short..... if those BEARISH divergence happened when EMA 55 (blue ema) is above EMA 200 (red ema), THEN it is time to short....
but from the chart you see.... Both those Bearish Divergence Happened when EMA 55 (blue ema) is BELOW EMA200 (red ema)
so i wont be shorting those divergence signals...

HOWEVER if the divergence signal comes in as perfect as this... I WOULD SHORT the shit out.

Attachment

YOu see the Bearish Divergence occured when EMA55 is above EMA 200? what...

Looks interesting bro, very interesting.
Would probably work on lower TF's too I would imagine for some shorter term trading.
Something to explore.

Can I ask where you got the divergence indi from?
Come with me if you want to live....
  • #329,986
  • Nov 15, 2012 5:51pm Nov 15, 2012 5:51pm
Quoting Ill-b-back
Looks interesting bro, very interesting.
Would probably work on lower TF's too I would imagine for some shorter term trading.
Something to explore.

Can I ask where you got the divergence indi from?
ill upload it to you
Attached File(s)
File Type: mq4 RSI Divergence.mq4   11 KB | 631 downloads


im testing this strategy of RSI divergence on EMA on almost EVERY pair and the same result works, higher probability on Higher TF too....
so far ive only tested divergence RSI for daily chart, putting 10 as the period.......

But there are some flaws to this indicator... i dunno why it didnt plot the divergence we had on the GBPUSD from the recent drop from 1.63....
the divergence is there but it wasnt plotted automatically as it should.... sooo yea do keep an eye out for divergence patter to be drawn manually...

the strategy WOULD work on lower time frame if only market isnt driven by news on a daily basis..... sooo trading this strategy on a DAILY chart would factor in the news into the flows... so lesser chance of entering a signal that will kill you like in a H1 chart would.
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #329,987
  • Nov 15, 2012 6:08pm Nov 15, 2012 6:08pm
Quoting fxtyrant
ill upload it to you
Attachment

im testing this strategy of RSI divergence on EMA on almost EVERY pair and the same result works, higher probability on Higher TF too....
so far ive only tested divergence RSI for daily chart, putting 10 as the period.......

But there are some flaws to this indicator... i dunno why it didnt plot the divergence we had on the GBPUSD from the recent drop from 1.63....
the divergence is there but it wasnt plotted automatically as it should.... sooo yea do keep an eye out for divergence patter...
Ok great thanks mate.
Yep, I agree.
I will look at the 4hr also as a compromise
Come with me if you want to live....
  • #329,988
  • Nov 15, 2012 6:09pm Nov 15, 2012 6:09pm
Quoting Ill-b-back
Ok great thanks mate.
Yep, I agree.
I will look at the 4hr also as a compromise
i TRIED H4, and RSI Period 5 was what i used in H4.... it worked some but not as perfect as daily.
if you need help with the strategy, ill send you a set of instruction over PM if you want.... just ask for it... Or we could do a live chat on Skype so we can discuss it with share screen
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #329,989
  • Nov 15, 2012 6:28pm Nov 15, 2012 6:28pm
Quoting fxtyrant
i TRIED H4, and RSI Period 5 was what i used in H4.... it worked some but not as perfect as daily.
if you need help with the strategy, ill send you a set of instruction over PM if you want.... just ask for it... Or we could do a live chat on Skype so we can discuss it with share screen
Ok great thanks mate, PM would be great. I tried Skyping with a guy from trade2win earlier in the year and it is a disaster. Wife gets very cranky as she hates forex and the time it takes away from her (actually this place more than forex, as my method does not take much time).
Thanks again.
Come with me if you want to live....
  • #329,990
  • Nov 15, 2012 6:31pm Nov 15, 2012 6:31pm
Quoting Ill-b-back
Ok great thanks mate, PM would be great. I tried Skyping with a guy from trade2win earlier in the year and it is a disaster. Wife gets very cranky as she hates forex and the time it takes away from her (actually this place more than forex, as my method does not take much time).
Thanks again.
Neither does my strategy... it gives an alert when a RSI divergence is detected..... and if you trade daily, signal comes in on close of daily candle and for me its 11PM GMT

so load it up on ALLL currency pair and you should have enough trade signals to play with...
but be aware... Short signal when you get Bearish Divergence when EMA55 is ABOVE EMA 200, not BELOW... BELOW is for Bullish divergence
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #329,991
  • Nov 15, 2012 6:38pm Nov 15, 2012 6:38pm
Anyone agrees that price is up for this next day?
  • #329,992
  • Nov 15, 2012 6:39pm Nov 15, 2012 6:39pm
Quoting fxtyrant
Neither does my strategy... it gives an alert when a RSI divergence is detected..... and if you trade daily, signal comes in on close of daily candle and for me its 11PM GMT

so load it up on ALLL currency pair and you should have enough trade signals to play with...
but be aware... Short signal when you get Bearish Divergence when EMA55 is ABOVE EMA 200, not BELOW... BELOW is for Bullish divergence
Yep, sounds logical

I'd be interested on its play with Bollingers setting 55 also in the lower TF and/or channel confluence connecting the swing highs and lows.

Thanks again..
Come with me if you want to live....
  • #329,993
  • Nov 15, 2012 6:44pm Nov 15, 2012 6:44pm
Quoting fxtyrant
Neither does my strategy... it gives an alert when a RSI divergence is detected..... and if you trade daily, signal comes in on close of daily candle and for me its 11PM GMT

so load it up on ALLL currency pair and you should have enough trade signals to play with...
but be aware... Short signal when you get Bearish Divergence when EMA55 is ABOVE EMA 200, not BELOW... BELOW is for Bullish divergence
I just noticed I have no private message button on the left side anymore.
What gives??
Come with me if you want to live....
  • #329,994
  • Nov 15, 2012 6:46pm Nov 15, 2012 6:46pm
Quoting alex1976
Anyone agrees that price is up for this next day?
I still don't understand why this should be so
Come with me if you want to live....
  • #329,995
  • Nov 15, 2012 6:48pm Nov 15, 2012 6:48pm
Quoting Ill-b-back
I still don't understand why this should be so
i dunno bro, i dont understand, from the looks the daily looks like a rejection to re-enter back into the uptrend.... but then again theres 23 hours and 15 minutes before the daily candle closes soooo.... we'll see...
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd daily.gif Size: 23 KB
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #329,996
  • Nov 15, 2012 6:52pm Nov 15, 2012 6:52pm
Quoting fxtyrant
i dunno bro, i dont understand, from the looks the daily looks like a rejection to re-enter back into the uptrend.... but then again theres 23 hours and 15 minutes before the daily candle closes soooo.... we'll see...
Attachment
LOL, yes we have a little while to wait



See you dude, I'm off for an early lunch.

Cheers mate
Come with me if you want to live....
  • #329,997
  • Nov 15, 2012 8:45pm Nov 15, 2012 8:45pm
Quoting _BBKing_
i agree with everything you and others here say about the bearish thing. but definetly i believe that a move to 5900-5950 is very possible since price is approaching an important area and overall the downtrend looks not so much strong actually.
till 5950 even to 6020 downtrend will still be intact and then gain power if no able to conquer into 1.60 or higher.
i would like to open short but to do so i want an higher price.
maybe i'm not the only one
i'm only scalping short untill a clearer pattern emerges. Time consuming lol. I'm waiting on a clear break above 1.58780 M30 before i enter any position , even then cautiously... and progressively adding.
BTW. Very nice to see you BB. I always appreciate your view.
All systems of divination, like music itself,work through patterns.
  • #329,998
  • Nov 15, 2012 8:53pm Nov 15, 2012 8:53pm
Quoting alex1976
Anyone agrees that price is up for this next day?
Alex,

Count me in the group pulling the price up to the sky...

Keep fingers cross...
  • #329,999
  • Nov 15, 2012 8:57pm Nov 15, 2012 8:57pm
Quoting alex1976
Anyone agrees that price is up for this next day?
my friend, what difference would it make if someone agrees price will go up or down??
As Above, So Below
  • #330,000
  • Nov 15, 2012 9:03pm Nov 15, 2012 9:03pm
Quoting alex1976
Anyone agrees that price is up for this next day?

Personally i'm focused to fly with this cable.Just waiting the time.
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