Cable Update (GBPUSD)

I just got a buy signal on my one hour chart, waiting for four hour to confirm.

My view on GBPUSD 17/12/13

We are looking pretty toppy here right now. I expect, if we're going to continue up for the next four hours, the next hourly candle will be red first.

Update on supports and resistances.
Pivot: 1.628
Hello to all !!!

GBP/USD 17-12-13

Our preference: Long @ 1.6295 with targets @ 1.636 & 1.6385 in extension.

Alternative scenario: Below 1.628 look for further downside with 1.6255 & 1.623 as targets.

Comment: the pair is rebounding above its support as the RSI is well directed.

Key levels
1.6415
1.6385
1.636
1.6322 last
1.628
1.6255
1.623

from FreshForex GBP / USD :

Will come from the UK a lot of macroeconomic statistics. Particular attention should be paid releases the Consumer Price Index , the level of employment and the volume of retail trade. Report on inflation may exceed the expectations of market participants , but data about the labor market and retail sales may reach the level of the median forecasts . On Wednesday, December 18 will be published minutes of the last meeting of the Bank of England's monetary policy . Positive abstracts relating to strong recovery of economic growth in the United Kingdom can also support the demand for a couple of pound / dollar .
Data on the consumer price index in the United States will add optimism "bears ." We can expect the release of data slightly better median forecasts that will support the U.S. currency. U.S. Federal Reserve meeting may put pressure on the British currency . In general, the British currency can expect sideways within the range of 1.6150-1.6400 .

Good Morning !
Today's S/R levels on MT4 Templates

EURO
CABLE
AUDUSD
EURJPY
S&P 500
GOLD

http://www.forexfactory.com/showthre...38#post7160638

so what next,UK inflation skewed(not by a lot,you want to say) coming in @ 21.% when 2.2% was thought of....and itz slowly and steadily maintaining a downtrend.

Does someone look at weekly pivots levels? they seems to be relevant, now we see bounce off weekly pivot...

Good day,

Took the scalp down on 15 min chart.

Did some adjustments to the indicator set. Still testing

Regards

yes..but like everything else.. use as a guide..

Good day,

Looking for a long scalp on 15 min again - testing, testing - may be 15 or 30 min early.. will see

Regards

A possible breach or a false one but a setup u can jump on with some 30 pip stop for 200 pip TP

I'm looking for a run back up to the 6320 area. Then another re-test of the support 6280.

Good day,


I could be mistaken, but I believe GU is looking for a temp bottom right now on the 4hr charts.

I will be adding long as we drop - again, testing - so do not put too much value to my analysis.

All the best

h1

Hi Sir T,

you are the rare one to build and test your own trading system in FF. I have a question about -not your trading system : that's the fruit of your labor so I respect it- but about contradictory signals that a system can occurs and how you manage it.
For exemple, if one run a given trading system in multiple time frame, let's say in 1, 5, 10, 15, 30 and 60 minutes and that the 1, 10 and 30 minutes give a buy signal and targets to 160, 175 and 200 and the 5, 15 and 60 minutes give a short signal with 145, 130 and 110 as respective targets and that the price is at 150 atm.
Do you skip the signals and wait that a majority of tf give a long or short signals.
Do you give a different weight for each time frame ? Larger time frame cancels the lower time frame ? etc...

would be pleased to read your answer if you accept to share your experience on this subject.

Thanks,

M.

GBP/USD DAILY CHART

ELIOT ANALYSIS

It is on the top of "FIFTH WAVE"
After that we may see a sudden drop to the 1.5480

david sayli detected

Sir,

For me, there is a reasonably expected pip value coupled with each time frame. One could expect 10 pips on the 5 min or 15-20 pips on the 15 min or then 30 to 40 pips on the 1hr. ( just an example). Higher time frames would thus carry more weight in terms of pip value. One would obviously like to gain the most possible pips from a trade. So - higher time frame "signals" would be the preferred ones. BUT - on it's way to form, one can look at the next lower time frame. If one has a sell signal on 4hr and then we form a sell signal on 1hr - the better the probability of getting a positive result?

The indicators are set up that I only like to look at the 15min,30min and 4hr - really. But, in my humble opinion - I will probably end up trading the 15min exclusively as a scalping system for these. Not even considering any other time frame. Grabbing 10 or 15 pips and waiting for the next. One would only need a few each week.

But - if I have to give my general opinion, the higher time frames carry the weight - or then the better pip count. I'm not a good trader - you are actually asking the wrong person..

As an additional note - this looks like a good range trading indicator. Will have to see if it picks the small retraces in a strong trend..

All success

Regards

Thought the same thing