CatFx50 - page 733
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So far:
Cable's high today: 1,9774.
Cable's low today: 1,9697.
GBPJPY high today: 239,84.
GBPJPY low today: 223,96.
USDCHF high today: 1,2530.
USDCHF low today: 1,2452.
Excellent!!
Excellent!!
Hi!
Thanks, Devil2000!!!
About today:
It was not an easy day to trade. Some can say: "I made xxx pips". OK, congratulations.
Lets look at 10:30CET bar on cable and we'll understand whatever we need to know. Not enough? Look at 16:00CET and 16:30CET bar and again the same. And all this with good UK data and good US data.
I like to be honest - there is no point here cheating. What for? -.
That's why I like to have levels: just to know (guess) where pairs have their line in the sand.
If we now look at GBPUSD 4H chart, we'll see that cable is topping at 1,9760 - 1,9777. In 40 hours it has done it 5 times. So, what does it mean? First of all, it means that, once at 1,9760, they sell it with fury.
When will they decide not to sell up there?
Wish I knew that!!!! But what I do know is that it will not be in full bullish gear till it breaks clearly 1,9777 and my resistance at 1,9796.
And if it breaks those resistances, don't you think we all be set to make a lot of money buying it; because each time it trades below those levels, it will change the mode.
We have a clear range that goes from 1,9590 to 1,9777. A range of only 187 pips. A range that is holding since 16:00CET (16-01-07) till now. So, in four days; again 4 DAYS, cable is trading between those borders with bullish bias.
So, besides whatever system or whatever time frame you trade, you can not ignore that range. NEVER!!!
You should, if you don't, look at Monthly, Weekly, Daily, 4H and 1H charts ALWAYS!!! Never mind if you trade 1M. You should know or try to know a bigger picture of the pair you trade. MANDATORY.
Hi NINA
very nice words NINA, you are right, your comments helps us trade
thx
Hi!
Thanks, Devil2000!!!
About today:
It was not an easy day to trade. Some can say: "I made xxx pips". OK, congratulations.
Lets look at 10:30CET bar on cable and we'll understand whatever we need to know. Not enough? Look at 16:00CET and 16:30CET bar and again the same. And all this with good UK data and good US data.
I like to be honest - there is no point here cheating. What for? -.
That's why I like to have levels: just to know (guess) where pairs have their line in the sand.
If we now look at GBPUSD 4H chart, we'll see that cable is topping at 1,9760 - 1,9777. In 40 hours it has done it 5 times. So, what does it mean? First of all, it means that, once at 1,9760, they sell it with fury.
When will they decide not to sell up there?
Wish I knew that!!!! But what I do know is that it will not be in full bullish gear till it breaks clearly 1,9777 and my resistance at 1,9796.
And if it breaks those resistances, don't you think we all be set to make a lot of money buying it; because each time it trades below those levels, it will change the mode.
We have a clear range that goes from 1,9590 to 1,9777. A range of only 187 pips. A range that is holding since 16:00CET (16-01-07) till now. So, in four days; again 4 DAYS, cable is trading between those borders with bullish bias.
So, besides whatever system or whatever time frame you trade, you can not ignore that range. NEVER!!!
You should, if you don't, look at Monthly, Weekly, Daily, 4H and 1H charts ALWAYS!!! Never mind if you trade 1M. You should know or try to know a bigger picture of the pair you trade. MANDATORY.So true in what you say. Well spoken words of wisdom to heed by.....
Hi!
Weekly Review. Please, look at USDCHF. And do not forget, please, that we had solid US data last week.
So, with good US data last week and USDCHF gained only 1 single naked pip!!!
Linear regression channel
Nina: I have been working with your system and Iam enjoying using it. One thing that bothered me was once the signal for a trade was indicated I wasn't sure if it was going to continue to move in the same direction, or drift back to the Sniper's MA. I began to place a linear regression channel in very light colors over the primary chart, and that seems to provide an extra measure of confirmation to the trade. I would appreciate any thoughts you might have. tia
Nina: I have been working with your system and Iam enjoying using it. One thing that bothered me was once the signal for a trade was indicated I wasn't sure if it was going to continue to move in the same direction, or drift back to the Sniper's MA. I began to place a linear regression channel in very light colors over the primary chart, and that seems to provide an extra measure of confirmation to the trade. I would appreciate any thoughts you might have. tia
Hi!
I could be nice if you could post a screen shot.
THX.
Nina
Hi!!
Well, we are going to face a new week: a new opportunity to learn.
I'm going to tell you a feeling: EURUSD will close the week higher than last one. Just take it as a feeling. Remember: trade what you see and be on the winnig side.
About GBPJPY:
Closed on Friday: 239,17, having won + 366 pips during the week.
Pivot on Monday at 239,34.
Resistance: 239,78 - 240,00 - 240,10 - 240,31 - 240,45 - 240,64 - 240,90 - 241,50 - 241,61 - 241,90 - 242,09 - 242,25 - 242,47 - 242,58 and 242,90.
Support: 239,17 - 238,91 - 238,37 - 239,34 - 238,00 - 237,73 - 237,51 - 237,40- 237,08- 237,65 - 236,50 - 236,27 - 236,03.
Its way, as you can imagine, is up. But we need it closing hourly above 239,57 and holding to believe it wants to break yearly highs. Each time you see it below 239,57 and holding, look at supports given.
Screen shot
Iam sorry, but I don't understand what is a screen shot.
Iam sorry, but I don't understand what is a screen shot.
Take a picture of the Metatrader screen.
Like all pictures you can view in the forum.