BBmac's Gbpusd thread

Price breaks above Yesterday's Hi as well as 76.4% 6740-5707, now approaching 61.8% of main 7044-5707 fall now.

G/L
 
Excellent analysis there bbmac,
As it has pierced the 61 fib I generally find it will continue up, I watch the 15 min at these points for price action

We are also near a pivot
If the 15 min goes negative would be a good point to exit
 
gamma said:
Excellent analysis there bbmac,
As it has pierced the 61 fib I generally find it will continue up, I watch the 15 min at these points for price action

We are also near a pivot
If the 15 min goes negative would be a good point to exit
Click to expand...

Thx Gamma yeh that 61.8% of 7044-5707 is at 6533 so just breeched...mni saying offers to 6550.. and mention 6570/80 as well then 6589 as being a 1.618 fib extension tech target...so will see what happens
 
A Doji on the 15 min good point to exit .
wait for the pull back which generally takes place about this time
 
kaisen said:
Are you shorting the pull back?

:)
Click to expand...

No kaisen,
Don't like going counter trend have been bitten too many times
and by the looks of it would have been a bad idea :)

or maybe not ! or maybe grrrr grrr
but if you are not sure best to stay out.

Better to be out of a trade wishing you were in, than being in a trade wishing you were out!
 
bbmac said:
I'm note sure I understand your terminology, Could you explain more, ..Thanks.
Click to expand...

Hey BBMAC, great analysis again and again.

The UUP, I beleive is the ETF for the dollar index.

Have a look at the following link:

U.S. Dollar Index - Wikipedia, the free encyclopedia

I look at this for an indication of dollar strength and thus to understand whether a move is gbp strength or dollar weakness. This allows you to understand when a change may occur ie if the dollar strengthens or weakens.

I watch the UUP on the follow link:

FreeStockCharts.com - Web's Best Streaming Realtime Stock Charts - Free

I would be interested to know your thoughts on this!

Good trading to you!

:)
 
Decent enough 1 and 5min regular divergence based Reversal set-ups @ that previously mentioned 6589 area, which also fell between the Mthly R1 and Wkly R1 calculated pivots as price hit 137% of it's 20day average pip range, so due a pullback at least...
25ewh39.gif

The 1min set-up is here, a quick +11 pip gain here:
14d0aic.gif


.....Before the 1min hidden-divergence based Re-entry (to next t/f trend after a pullback) set-up developed, shown below:
xckhhj.gif

Stop @ B/e now (6566ask entry,) ...looking for a with trend follow thru to a new Hi, might take +10 if it struggles or of course b/e...actually I have just closed @ 6584bid so +18.

G/L
 
gamma said:
No kaisen,
Don't like going counter trend have been bitten too many times
and by the looks of it would have been a bad idea :)

or maybe not ! or maybe grrrr grrr
but if you are not sure best to stay out.

Better to be out of a trade wishing you were in, than being in a trade wishing you were out!
Click to expand...

No problem, just trying to gauge your thoughts as you mentioned exiting the long on the doji and then you mentioned the retrace. So I was wondering as you mentioned exiting on the doji, and not the retrace, whether you were looking to short the retrace.

I understand you are not shorting the retrace but why did you mention the retrace?:confused:

Just trying to learn my friend!

:)
 
kaisen said:
Hey BBMAC, great analysis again and again.

The UUP, I beleive is the ETF for the dollar index.

Have a look at the following link:

U.S. Dollar Index - Wikipedia, the free encyclopedia

I look at this for an indication of dollar strength and thus to understand whether a move is gbp strength or dollar weakness. This allows you to understand when a change may occur ie if the dollar strengthens or weakens.

I watch the UUP on the follow link:

FreeStockCharts.com - Web's Best Streaming Realtime Stock Charts - Free

I would be interested to know your thoughts on this!

Good trading to you!

:)
Click to expand...

Kaisen,
thats a good link seems very imformative, but i cannot seem to find the dollar index on it. could you elaborate what you mean by UUP please
thanks
 
Thx for the links, will take a look

G/L

kaisen said:
....The UUP, I beleive is the ETF for the dollar index. Have a look at the following link: U.S. Dollar Index - Wikipedia, the free encyclopedia I look at this for an indication of dollar strength and thus to understand whether a move is gbp strength or dollar weakness. This allows you to understand when a change may occur ie if the dollar strengthens or weakens. I watch the UUP on the follow link: FreeStockCharts.com - Web's Best Streaming Realtime Stock Charts - Free I would be interested to know your thoughts on this!

:)
Click to expand...
 
gamma said:
Kaisen,
thats a good link seems very imformative, but i cannot seem to find the dollar index on it. could you elaborate what you mean by UUP please
thanks
Click to expand...

Hi Gamma,

I have been trying to find some clear information, rather than my own words, to explaing the UUP ETF.

My simple understand is that the UUP is an ETF for the dollar index.

See if the following link sheds anymore light.

PowerShares Dollar ETFs

If i find anything else i will let you know.

:)

Another link:
http://randomroger.blogspot.com/2007/02/dollar-up-dollar-down-etfs.html
 
So a UUP is an exchange traded contract underlied by the $ index, from what I can gather, betting on the $ increasing in value.
 
bbmac said:
So a UUP is an exchange traded contract underlied by the $ index, from what I can gather, betting on the $ increasing in value.
Click to expand...

I believe so. It was brought to my attention from watching inthemoneystocks.com who review the UUP for dollar strength as this has a direct impact on oil and the direction of the stockmarkets.

:)

Knew I should have shorted the retrace! I was composing a reply to you kind gents and missed my entry..LOL
 
No real effect from 11am Uk CBi ind trends data. This is what I am see-ing right now in respect of near-term obvious potential supp/res factors on 1hr...the grey shaded zone is also co-existant on 4hr, as is the zone around tuesday's lows..

jh698g.gif


Tuesday lows @ 6322 area now the 76.4% of 6240-6590 (current intraday hi and hi of move) area was a bounce off the 100day sma on the daily t/f...

2m5xv2h.gif


Trend remains up to the 4hr t/f and a strong up move off that 5707 low on daily above both the last 2 x LH's of it's downtrend.

G/L
 
kaisen said:
No problem, just trying to gauge your thoughts as you mentioned exiting the long on the doji and then you mentioned the retrace. So I was wondering as you mentioned exiting on the doji, and not the retrace, whether you were looking to short the retrace.

I understand you are not shorting the retrace but why did you mention the retrace?:confused:

Just trying to learn my friend!

:)
Click to expand...

When the price is around a pivot or fib point I switch to lower frame time charts also keep an eye on the macd and rsi to see if they are turning down.
I also find between 10 and 12 am cable tends to retrace back up or down a bit but this is not always the case.
And finally from a mental point of view I find it exhausting to be in a trade I think one needs a rest before the the next fight.

Thanks for the explaination on the dollar index have been trying to improve my understanding of it as I think this is a good weapon to add to the arsenal.
 
gamma said:
When the price is around a pivot or fib point I switch to lower frame time charts also keep an eye on the macd and rsi to see if they are turning down.
I also find between 10 and 12 am cable tends to retrace back up or down a bit but this is not always the case.
And finally from a mental point of view I find it exhausting to be in a trade I think one needs a rest before the the next fight.

Thanks for the explaination on the dollar index have been trying to improve my understanding of it as I think this is a good weapon to add to the arsenal.
Click to expand...

Thanks Gamma AND...

:clap::clap:

I seem to have made a beneficial contribution!! :D

I dont like taking all the time!

:)
 
A short would not be looking too good now!
It seems to be in limbo I would just stay out for the time being
 
BBMAC/Gamma,

Do you take any fundamentals into consideration today? For example FTSE is down over 1% and commodity prices are down, CPI down etc?
Will that lend to a trigger of a reversal?

If so what are your guesstimates?

:)
 
kaisen said:
BBMAC/Gamma,

Do you take any fundamentals into consideration today? For example FTSE is down over 1% and commodity prices are down, CPI down etc?
Will that lend to a trigger of a reversal?

If so what are your guesstimates?

:)
Click to expand...

Thats a slippery slope that has led to my numerous blow ups. Just wait to be told what to do. You can only be wrong if you form an opinion.
 
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