CatFx50 - page 247

[mibl]

Dave1:
Hi Nina,

Just looking at GBP/USD it seems to be consolidating and the Shi Channel on both 30 and 1hr indicate an uptrend. I am not in the trade yet, do you think it is still a good short to get into.

And how do you use the trade time indicator.

Thx

Hi Dave1

I'm not Nina but try to answer.

Yes there is a consolidation - but I do not know where you see an upcomming uptrend in 30m / 1h cable-chart. If theres a trend you must see him in the price chart. There is no indicator which tells you the future - even not the sgichannels. Nearly all indicators work on the price, so you the indicator shows you another view at the price chart.

You can look at the 4h-chart attached to see there is a "longer" trendline starting 10/11 march which could be a support. Furthermore the lower bollinger band was reached, so there is a chance for a upwards reaction - but no uptrend can be seen at the moment!

As you can interpret from the chart, the current short potential seems to be limited. Perhaps the consolidation builds up another bear flag - that would be the only reason to dare another short at this time.

Be careful (never catch a falling knife....)

b.r. mibl

PS: TradeTime shows up the upper and lower trading range borders of the whole trading day and marks the configured trading time in the chart (see indicator parameters box).

[traderix]

Hi, Harold 4x

on your post #2391 you show three diff. Step Ma versions.

What is the input for the middle one, which kept you out of the bad trade?

Thxs

Traderix

[nina]

Hi,

Just a reminder (posted early this morning. 2482):

EURUSD should not lose 1.1968 on an hourly close. If it does, it could go to 1.1950-40-30-10 and 1.1865 - 1.1817 - 1.1785 and 1.1720.

GBPUSD, while below 1.7424, it is set to go to 1.7310-1.7308-1.7241-1.7180.

USDCHF, while above 1.3077, it is set to go to 1.3196 and 1.3330.

Nina

[harold4x]

Morning All I Shorted Euro/usd At 2002 All 3 Step In A Line Slow Market So We Will See

[Angela]

I shorted too 2003 - let us both be right

[harold4x]

there is an up trend around 1983 that will cause problem there may be only 15 -20 pips to get

[Angela]

harold4x:
there is an up trend around 1983 that will cause problem there may be only 15 -20 pips to get

That would do nicely Would have preferred it to have closed the hour below 120 though!

[harold4x]

what do you mean close the hour below 120

[Angela]

harold4x:
what do you mean close the hour below 120

I would have been more confident of a further down move if it had closed on the hourlies below 1.2000 - as u can see, it didn't and we have a small move up. The reverse would most likely have happened had it closed below 1.2000. All in my humble opinion of course.

[harold4x]

i see well it has formed a bearish wedge though so it may go up to 2014-2020 before heading down market very slow and its getting late so keep you eyes open and use money management plus 200 ema on 4 hour chart helping to keep price from climbing