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Cable Update (GBPUSD)

  • #428,021
  • Apr 12, 2016 7:19am Apr 12, 2016 7:19am
yeah look the H4 currently ain't looking great, provided it's also week R1 level.

Also I see some volume coming through here with that move, Neal can you confirm that ?
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  • #428,022
  • Apr 12, 2016 7:21am Apr 12, 2016 7:21am
#GBPUSD stopped out with a profit, on the sideline for now... looks like minor arch res put the brakes on pound....
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"W. D. Gann said that time is the most important factor among all things."
  • #428,023
  • Apr 12, 2016 7:22am Apr 12, 2016 7:22am
volume is building up south could trigger a bigger move.
  • #428,024
  • Apr 12, 2016 7:23am Apr 12, 2016 7:23am
ok Neal is busy trading.
  • #428,025
  • Apr 12, 2016 7:23am Apr 12, 2016 7:23am
went short x4 std lots tight stop also here.
  • #428,026
  • Apr 12, 2016 7:24am Apr 12, 2016 7:24am
this aint looking good for sure
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  • #428,027
  • Apr 12, 2016 7:26am Apr 12, 2016 7:26am
dollar building up some strength before data release
  • #428,028
  • Apr 12, 2016 7:31am Apr 12, 2016 7:31am
1.4255​x/1.4250x
  • #428,029
  • Apr 12, 2016 7:33am Apr 12, 2016 7:33am
From what I see up volume decreasing. Sell side picking up! The reason I like futures charts over forex is they are more accurate. A very subtle but real signal is the blue arrow. Actually represents a structure break, thats why I put a line there. Ideally, I would like to see one more push up with some heavy volume! Doesn't mean its going to happen, but that would be ideal. Perhaps some delicious upcoming news(i didn't check) might create this. watching and waiting.
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  • #428,030
  • Apr 12, 2016 7:36am Apr 12, 2016 7:36am
ok got it it's like price/volume divergence, price made a new high but volume is not there, right?
  • #428,031
  • Apr 12, 2016 7:38am Apr 12, 2016 7:38am
right on! With the hidden structure break and volume fading off, I'm watching my line carefully for rejection!
  • #428,032
  • Apr 12, 2016 7:38am Apr 12, 2016 7:38am
Quoting asgcorp
dollar building up some strength before data release
what data?
  • #428,033
  • Apr 12, 2016 7:43am Apr 12, 2016 7:43am
Quoting trademb
{quote} what data?
check the releases here http://www.myfxbook.com/forex-economic-calendar

data already out, was a non-event pretty much.
  • #428,034
  • Apr 12, 2016 7:44am Apr 12, 2016 7:44am
Volume spikes are treated differently on occassion. They represent a lot of activity(something is happening). Pay attention to the candles where these occurred and watch pa. Some interesting things happen around these areas.
  • #428,035
  • Apr 12, 2016 7:44am Apr 12, 2016 7:44am
Quoting nealpek
right on! With the hidden structure break and volume fading off, I'm watching my line carefully for rejection!
ok got it thank you for the heads up, good deal!
  • #428,036
  • Apr 12, 2016 7:46am Apr 12, 2016 7:46am
Quoting asgcorp
{quote} check the releases here http://www.myfxbook.com/forex-economic-calendar data already out, was a non-event pretty much.
Okay thanks.

I think the standard mt4 volume indicator is misleading me with colours. Are the colours necessary and if so, does anyone know a good indicator?

Question.

When we see long volume bar corresponding to a short candle, does this signify that there is lots of sellers and buyers cancelling each other out?
  • #428,037
  • Apr 12, 2016 7:49am Apr 12, 2016 7:49am
didn't watch the M5 chart but it was telling.
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  • #428,038
  • Apr 12, 2016 7:50am Apr 12, 2016 7:50am
Quoting trademb
{quote} Okay thanks. I think the standard mt4 volume indicator is misleading me with colours. Are the colours necessary and if so, does anyone know a good indicator? Question. When we see long volume bar corresponding to a short candle, does this signify that there is lots of sellers and buyers cancelling each other out?
there is no volume in MT4, it's not even close to the real deal. Get a futures broker demo and you'd be good with volume.
  • #428,039
  • Apr 12, 2016 7:51am Apr 12, 2016 7:51am
Neal I see what you mean but I'm not sure we will actually do that atm.
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  • #428,040
  • Apr 12, 2016 7:51am Apr 12, 2016 7:51am
looks like the party is over.
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