FX-2008: w/c Jan-07th

[JTrader]

ECB interest rates also on hold (at 4%).

 

[rols]

Bah.....Pip Slave .
My IR post post was "essential" .

Today: 9:57am

Therefore i am not going to post anymore on T2W - unless the information that i seek to gather or share is deemed "essential" or even "priceless" - in my humble opinion of course!

"A good plan today is better than a perfect plan tomorrow."

????? :cheesy:

 

[shadowninja]

EUR/USD was a chuckle! I'd ask why but you'd all call me a newbie.

 

[bbmac]

Whats wrong with following 5min Hidden divergence based re-entry set-up (1348pm) gmt today.?(for those that know it's a Re-entry type 1 that appeared on the 5min (intermediate) chart today.

It seems ok, ie its hiden divergence and band deviation at a lower high.
The answer is on the 30min (trend time frame) shown in 2nd screenshot. The low that gave rise to the retrace at the lower high at which the set-up presented itself was from a higher low (HL - cirled in yellow) than the last lower low on that trend time frame(LL,) albeit marginally. So effectively you were re-entering a range on your 30min (trend) time frame.

The set-up produced pips nonetheless it showing as a 1min (trigger) Reversal set-up from a 9612bid entry but as I write this has gone on to make a higher low on that time frame, at 9551 area.

Cable's 125pip lo-hi range today so far 9540-9663 lower than recent days and below the 20day average of 159pips.

Hope you had a good day.

 

[bbmac]

above post cont....

The 1min (trigger) set-up to that 5min Re-entry set-up is shown here;

1min (trigger) Reversal type B

 

[bbmac]

Just to be clear ive posted the 30min chart again, and although the low at 9645 (circled in yellow) was indeed a lower low than the last higher swing low of the potential uptrend (HL) it was still higher than the last lower low of the downtrend (LL) circled in red and as it was the downtrend that the direction of the set-up on 5min at the last LH was highlighting, the working analysis based on overall price action analysis on this 30min trend time frame, was that it was effectively a Re-entry set-up on the intermediate chart (5min) to what was then a range on the trend 30min t/f.

You know what I mean, Lol

BBmac: news at Ten, making the easy complicated. (hehehe)

I'm confused now!!

 

[bbmac]

gbpusd on friday

Look where cable found resistance in the asian/ovenight session with a strong early move down, now some 137pips off the intraday high.

The chart shows the steepest 4hr and 1hr descending resistance trend line.

 

[bbmac]

gbp cont...

The chart below shows the hidden divergence/band deviation based re-entry to trend time frame (30min) downtrend set-up on 5min (intermediate) chart.

You will see it's a good set-up confirmed by a Reversal set-up on the 1min trigger and so far has gone on to make a marginally lower low than the last swing low, but only by a pip or two.

The question is this. The down move was so strong that the only real potential SBR zone even on the 5min was some way above it, so the retrace/pullback didn't make it into that zone, price finding resistance below it. What do you do in these circumstances?...you got to look for other potential resistance like fibs, broken areas of support/bids (or resistance/offers in an uptrend) and this was the case here with the pullback finding resistance around yesterdays lo/wednesday's lows and former bids. 9545-55 area.

EDIT: 0949am gmt New low made now

5min (intermediate) Re-entry type 2

 

[bbmac]

gbp cont...

Support/bids at the 9500/10 level gave way to what MNI described as '...stops at 9480 bids 9470/80 stronger at 9450.' The area is also Dly S2 pivot at 9483.

The smart pullback off that later area has now made a high above the last lower swing high of the downtrend up to the 30min chart.

The 5min [intermediate] Reversal set-up is shown below, and it doesn't get much clearer than that at support.

5min [intermediate] Reversal A (ii)

Enough from me today/this week, have a good w/e all.

 

[JTrader]

Besides wednesday, this week has been a bit of a lame duck for GBPUSD. Lets hope next week improves for those who like sustained price movement in 1 direction.

 

[bbmac]

Gbpusd average ranges

Screenshot shows the Average Daily, Weekly and Monthly ranges in cable for this w/e Fri 11th Jan 08.

 

[bbmac]

gbpusd

Friday's strong recovery off it's intraday low at 9481 contained at the steepest of the 4hr descending resistance trend lines, that came in around same area of the 38.2% of the move from last Friday's (4/1/01) post NFP high to this Friday's low @ 9481.