Prediction of EUR Vs USD price level in next 8 hours!!!

[Srikanth.Haritsya]

Re: OHLC of GBP/USD on 20th Feb

Any reason why GBPUSD cannot be shorted?
Do you think that not even one of the timeframes?

I would like to know your opinion.

Regards
Raj

Hello Rajesh, I have 3 reason why one shouldn't attempt short on GBP now

1. GBPUSD is bullish for at least 2-3 days on a in daily technical
2. USD has lost across other currencies including GBP over the last week, which means USD is slowing down and it also means GBP is is winning against USD.
3. If you compare Friday close to today's open there is a gap creation upwards, which should have sent the pair south instead GBP is exhibiting strong resistance to consider south.

Now all 3 factors are pointing 1 direction - UP Trend. an old saying says trend is your friend.

Now for a shorter time frame, I guess 4 hour period could help you with couple of pips but still it would be more of a gambling than a good trade.

if you are looking for a strong short then wait till EOD and see if the close is significantly below today's open. then it's a good short signal.

 

[Piratetrader]

Re: OHLC of GBP/USD on 20th Feb

Hello Rajesh, I have 3 reason why one shouldn't attempt short on GBP now

1. GBPUSD is bullish for at least 2-3 days on a in daily technical
2. USD has lost across other currencies including GBP over the last week, which means USD is slowing down and it also means GBP is is winning against USD.
3. If you compare Friday close to today's open there is a gap creation upwards, which should have sent the pair south instead GBP is exhibiting strong resistance to consider south.

Now all 3 factors are pointing 1 direction - UP Trend. an old saying says trend is your friend.

Now for a shorter time frame, I guess 4 hour period could help you with couple of pips but still it would be more of a gambling than a good trade.

if you are looking for a strong short then wait till EOD and see if the close is significantly below today's open. then it's a good short signal.

Gbp/usd has entered a consolidative pattern since 3 days. USD is the second most single oversold currency at present and its moving north(gaining strength) Thirdly there are some huge resistance and pressure building up north . 1.6010 is a very strong area until it clears above this lets not even think about going long !

 

[SavantGarde]

Re: OHLC of GBP/USD on 20th Feb

Is that right... Mr.Pirate... Now what do you suggest I do... I am long @ 1.5841

Analysis ..ka batti bananey ke liye kahoon kuch...

SG

Gbp/usd has entered a consolidative pattern since 3 days. USD is the second most single oversold currency at present and its moving north(gaining strength) Thirdly there are some huge resistance and pressure building up north . 1.6010 is a very strong area until it clears above this lets not even think about going long !

 

[Piratetrader]

Re: OHLC of GBP/USD on 20th Feb

Is that right... Mr.Pirate... Now what do you suggest I do... I am long @ 1.5841

Analysis ..ka batti bananey ke liye kahoon kuch...

SG

ab bacche ki jaan lijiyega kya ? Ham kya bole LOL . hamko 1.6010 pai strong reversal dikh raha hai aur kuch nahi ye area clear hona mangta hai long ke liye

 

[rajesh.sadhanala]

Re: OHLC of GBP/USD on 20th Feb

Hello Rajesh, I have 3 reason why one shouldn't attempt short on GBP now

1. GBPUSD is bullish for at least 2-3 days on a in daily technical
2. USD has lost across other currencies including GBP over the last week, which means USD is slowing down and it also means GBP is is winning against USD.
3. If you compare Friday close to today's open there is a gap creation upwards, which should have sent the pair south instead GBP is exhibiting strong resistance to consider south.

Now all 3 factors are pointing 1 direction - UP Trend. an old saying says trend is your friend.

Now for a shorter time frame, I guess 4 hour period could help you with couple of pips but still it would be more of a gambling than a good trade.

if you are looking for a strong short then wait till EOD and see if the close is significantly below today's open. then it's a good short signal.

My opinions

1) Yes ur point 1 is valid however it didn't cross previous high i.e. 1.59xx.
2) this is very tricky..
3) gap up but never take out first 4H bar

thanks for ur analysis

Regards
Raj

 

[Piratetrader]

Re: OHLC of GBP/USD on 20th Feb

Is that right... Mr.Pirate... Now what do you suggest I do... I am long @ 1.5841

Analysis ..ka batti bananey ke liye kahoon kuch...

SG

haan kuch keh rahe thay aap sirji ?

 

[SavantGarde]

Re: OHLC of GBP/USD on 20th Feb

Guru guud chela chinni....... ek kaam....karo jaa kar Trade sheet dekho....!!!

haan kuch keh rahe thay aap sirji ?

 

[Piratetrader]

Re: OHLC of GBP/USD on 20th Feb

Guru guud chela chinni....... ek kaam....karo jaa kar Trade sheet dekho....!!!

vo toh ham rooz dekhte hain sirji vase ham zada kisi ki tarif nahi karte pad phir bhi bol de rahe hain aapki jitni tareef ki jaye kam hai

 

[SavantGarde]

Re: OHLC of GBP/USD on 20th Feb

My post was particularly directed at the GBP/USD trade... which was mentioned earlier.....!!!

Have another entry... @ 1.5807 ...not closed yet....!!!

vo toh ham rooz dekhte hain sirji vase ham zada kisi ki tarif nahi karte pad phir bhi bol de rahe hain aapki jitni tareef ki jaye kam hai

 

[Srikanth.Haritsya]

Trade 2 Results

I should admit, Trade 2 was a fiasco, I ended up adding a stop loss without a take profit level which resulted in super awesome failure (i'm down by $302 in my account ). it's embarrassing to admit, but a lesson learnt.

Positive side to it - a little digging into how I didn't catch up the proper high and low this time thought me a new lesson.

"I forgot to calculate the difference the Gap Created"

Here, let me show you pictorial calculation.

Big Difference right? well let me show you the blunder rectified calculations

Look at High and Low - it's something isn't it.

what are those numbers? previous OHLC calculations minus 0.00471. vs actual. (also 100 pips minus high and 100 pips plus on low)

Explanation
1.58165 - 1.58636 [my open - 1hr chart also opened accordingly] = -0.00471 = difference between the Friday close price and the gap open price on Monday.

I usual slow down my high calculations by -100 to -150 and 100 to 150 for low. for market safety reasons (still my theories are work in progress you know)

if I would have tweaked the system with little bit more common sense I could have almost pick the bottoms and tops.

I know it's a lot of work in progress but this instance boast my confidence even more to keep working on it.

I am open to your disagreements if you have some. but picking exact tops and bottoms is possible