Best Thread BBmac's Gbpusd thread

[bbmac]

5min Re-entry..non optimum conditions for the set-up

The screenshots below show the 5min Re-entry set-up (entry timed as a 1min Reversal set-up) @ the previous 1hr swing lo = prev supp=potential sbr zone...

Decent enough set-up on 1 and 5min but the set-up came @ a H on 5min although co-existing as a LH on 30min into whose downtrend the 5min Re-entry indicated a possible chance to get 'with trend.' I traded the set-up for +10 only as the other issue was that although the 30min macd signal line was crossed below it's axis, the 1hr was pointing up...so not optimum conditions hence small pip take.

 

[bbmac]

Pullback or more?

Recovery off 6165 asian/overnight low now extends past the 23.6% of 6485-6167 move with regular bullish divergence patterns to 1hr t/f.

1hr shown below

G/L

 

[bbmac]

price continues it's pullback...

The 5min sets-up again with the same hidden-div Re-entry (to higher t/f trend after a pullback) set-up as above this time @ a HH on that t/f but still at a LH on 30min (higher t/f) and this time a regular bearish divergence based Reversal type A on 1min times the entry on close of 1min 0829am gmt candle with that whole reversal candle closing outside the 20bol (white )...shown below..potential sbr/res was the y/day low and mni were talking about stops @ 6260 so a little tenuous but a good set-up on 1min although for same reasons as expressed in post above i did not hold for an extended 'with 30min downtrend' pip target.

The 5min screenshot below shows where price found support (prev 5min swing hi=prev res=potential sbr zone) on run up to 6160 area following pullback from the 5min H described in a post above here...no 1min set-up there but 30min/1hr macd signal lines were pointing up and 5min was crossed above it's zero axis...

......And then with these macd signal conditions as described above....a hidden-div based 1min re-entry (to 5min uptrend after the pullback) develops @ a L on 1min co-existing as the 2nd HL on 5min... screenshot below...

as I was writing this the set-up has just seen a 'with 5min uptrend' follow thru to a new HH...nice pip gain!!

 

[bbmac]

Pullback extends to 23.6% 6720-6165

Pullback extends to 23.6% 6720-6165 (not shown on 1hr screenshot below which shows the unvbreeched fibs of the 6667 and 6485 to 6165 swing down..price makes a H above last LH of 1hr downtrend now.

G/L

 

[bbmac]

Current overall price action-peak/valley analysis -1hr/4hr

As screenshot below...

G/L

 

[bbmac]

recovery meets resistance

Price finds post 0930am data resistance on the pullback at the confluence shown below...mni also touting offers there 6314-20 describing a break of 6320 as '...key to recovery hopes...'

The previous 1hr (also a 4hr) swing lo=prev supp=potential sbr zone and trend line is shown below:

....and the 1min trigger t/f set-up is shown here, a regular sequential bearish div Reversal (contra-trend) set-up which was also supported by a 5min Reversal set-up (Rev B) not shown here, but plenty of examples on this thread.

G/L

 

[bbmac]

1hr/4hr update

The pullback from 6165 resulted in a HH on 1hr- that being an immediate LH in the 4hr downtrend (see screenshot below) so perfect 4hr/Daily downtrend still intact .

... 1hr now see-ing a L, & LH off that pullback HH.

G/L

 

[bbmac]

Daily t/f update

Screenshot as below; Downtrend still intact with a new LL at today's current intraday low, and breech of both ascending support trend lines to the downside.

 

[bbmac]

Weekly range 5707-7044

Just a quick look at the range that has developed on the weekly chart since Mid-may 7044 [5th August Hi] to 5707 [13th October Lo,] the 7044 being the bottom of a previous swing hi/lo zone on the monthly t/f of course, the former 5707 being the area of 38.2% of the current 3505-7044 yearly lo-hi and a previous weekly swing hi zone.

The Daily t/f is in a downtrend with 2 x LH and 2 x LL now, ...will this weekly range break now before the year end ?

 

[bbmac]

Th 10th Dec 09

Not much happening in the overnight/asian sesion with cable price ranging now between the last obvious near-term previous swing hi and lo zones on this 1hr t/f. Boe/Mpc rate and Qe decisons due later, n/c forecast in either.

G/L

 

[bbmac]

1hr trend line bounce

I didn't notice in realtime-the bounce up from the current intraday low was a trend line bounce on 1hr...see below;

 

[bbmac]

Mni touting offers @ 6300, stronger @ 6320/25 ?

6300 offers said mni, '...stronger @ 6320/25' and @ 0905am a 1min regular sequential bearish div based reversal (contra-trend) set-up supported by a 5min Rev Extr ii set-up (imperfect)...1min set-up is shown below

I was unconvinced by the set-up due to the lack of any potential resistance factors confluence other than those mni offers...but did enter late on close of the 0859am 1min candle (0856am the optimum candle close entry.)

0912am saw a hidden-div based 1min Re-entry (to higher t/f trend-5min after a pullback) set-up @ the 3rd HL of the 5min uptrend with macd signal lines pointing up 30/1hr/4hr, although no potential rbs identified on 5min t/f. (just came out at b/e)...now watch it go-lol!!

 

[bbmac]

100/200 sma update

The 100 sma now trades below the 200sma on both 1hr and 4hr, daily 100sma is still above it's 200sma. 1hr/4hr sma's all pointing south...Significant? No idea, lol.

Neeless to say that 0912am hidden-div based 1min Re-entry to 5min uptrend set-up has produced pips after I got out at B/e...X@*%!!!

 

[bbmac]

1hr

2 x HL now on 1hr

 

[bbmac]

Resistance pullback

Decent 1min and supporting 5min regular bearish divergence based Reversal (contra-trend) set-ups developed just into the prev 1hr swing hi=prev res=potential res zone shown below

The 1min Reversal set--up is here, the 5min supporting was the same set-up

Pairing retains a bullish tone so far this london session, mni talking about '..room to 6400...' now ? Breech of the 2nd 1hr descending potential resistance trend line ...will be interesting to see if the 1hr candle closes below it?

G/L

 

[bbmac]

5min bullish thrust

...will be interesting to see if the 1hr candle closes below it?...

It didn't it closed above it..

Decent 5min bullish thrust provides a with trend entry with stop at it's base with 5min uptrend after no 1min re-entry set-up @ the last HL. 5min macd signal line crossed above it's axis at entry and pointing up as were 15min/30min/1hr with 4hr pointing up..came out at the reported 6320/25 offers deeper in the previous 1h swing hi=prev res=potential res zone.

G/L

 

[bbmac]

2 set-ups in quick succession, first the regular bearish divergence based Reversal set-up developed deeper in the 1hr prev swing hi=prev res=potential resistance zone at the mni offers 6320/25, asian hi...shallow pullback to the previous 1hr swing hi=prev res=potential rbs zone with topside of that breeched 1hr descending trend line also rbs confluence at which a 1min perfect re-entry set-up develioped....perfect as on 1min and 5min (into whose uptrend the re-entry after the pullback was indicated) the set-up came both at an immediate HL with all macd signal lines as they should be...nice pip gain from it as momentum takes the price higher.

The 1min set-ups are here:

...and the potential rbs confluence for that 1min hidden-div based re-entry (to higher t/f trend after a pullback) set-up is here:

price has arrived at the next 1hr prev sw hi zone, co-existant on 4hr and the next 1hr descending trend line, mni saying offers @ 6350 likely.

...and a nice 1min osc extremes/cci hook based reversal set-up shown below (with a 5min supporting reg bearish div Reversal set-up [Rev A seq])

Repeating set-ups with individual price action triggers @ pre-identified potential supp/res/sbr/rbs = hi probability trading.

G/L

 

[bbmac]

Fri 11th Dec 09

2 x doji-esq candles now on Weds/Thurs daily candles....There has been an upside breech now of the 1hr descending resistance trend line (grey wide dotted line) on 1hr as the newly established one holds again although being tested again right now, as the ascending support trend line holds intact, there being a newly established steeper ascending t/line too on 1hr.

From Weds 6165 low inclusive 4hr has seen a LL, LH,HL,LH,HL, and 1hr and 4hr sees it's 100sma below it's 200sma at present.

G/L

 

[bbmac]

hi-probability set-ups

You will see from the pic below that although the 1min hidden-div based Re-entry (into higher t/f trend after a pullback) set-up developed ' a good potential rbs zone on that higher t/f-5min, and was at a 2nd HL (circled,) the 5min uptrend was less than convincing, there only having been a H prior to the pullback not a HH, although that H was higher than the last LH...Moreover that H wasnot higher than the visible high point on that t/f, the HH of the previous uptrend...But going for it was that at entry 5min macd was crossed above it's zero axis and 30min (and 1hr) macd signal lines werte pointing up and it followed a 5min bullish thrust candle..nice pip gain resulted

The 1min re-entry set-up is here:

The run up to the descending 1hr trend line shown in post above found supply and a 1min Regular sequential bearish divergence based set-up develop there fopr a hi-probability contra-trend trading opportunity, as shown below;

Uk data due at 0930am gmt

G/L

 

[bbmac]

desc 1hr t/line breeched

Approachng Uk data and 1hr descending t/line breeched from 3rd HL on 5min...will this 1hr candle close above it?

G/L