School of Pimpology - page 10
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Continuation
Well well well.
After some big moves yesterday, the Dollar has maintained it's strength this morning, with Crude falling (well, brent as crude was not working) and dragging Gold with it.
With the vote from the MPC coming out at 7-1-1 the GBPUSD trade never materialized, and to be brutally honest I sat on the sidelines thinking everything else to be either overbought or oversold.
Gold actually wasn't below -150 at its point of departure on the 4hr CCI and I got it wrong.
I put my hands up and say I mis-read it and took no trades as a result.
I'm know a lot of you did, which is great to see.
Attached is the pick of the bunch. Notice how the blue 15m 50 sits on the correct side of the 15m 20 for a nive play in the appropriate direction.
Cross Correlation
AS we have seen this morning, on the back of rumours of the liklihood of possible rate hikes in the UK sooner rather than later, we have seen GBPUSD travelling in an OPPOSITE direction to its counterpart EURUSD this morning.
This happens sometimes and when it does there is always opportunity in the cross-pair.
So if Euro is weak against Dollar and Pound is strong against Dollar, then Pound MUST be strong against Euro.
Remember the Football analogy from the second post on the thread ?
The left chart is GBPUSD, the right is EURUSD and the middle is EURGBP.
A nice little move and well worth remembering. When not looks quite right on our main stage there is always something lurking in the shadows for us.
If there's any questions about this topic then please do ask.
chart set-up help pls
No matter what i try i can not get any price bars to display on the templated chart. Could someone please advise. Thank you.
No matter what i try i can not get any price bars to display on the templated chart. Could someone please advise. Thank you.
You need the CW Heiken Ashi, my man.
AS we have seen this morning, on the back of rumours of the liklihood of possible rate hikes in the UK sooner rather than later, we have seen GBPUSD travelling in an OPPOSITE direction to its counterpart EURUSD this morning.
This happens sometimes and when it does there is always opportunity in the cross-pair.
So if Euro is weak against Dollar and Pound is strong against Dollar, then Pound MUST be strong against Euro.
Remember the Football analogy from the second post on the thread ?
The left chart is GBPUSD, the right is EURUSD and the middle is EURGBP.
A nice little move and well worth remembering. When not looks quite right on our main stage there is always something lurking in the shadows for us.
If there's any questions about this topic then please do ask.Thanks FX.
I was just going to ask you about the cross rates when you get some divergence from the usual correlation. GBPJPY not surprisingly offering some pips today.
G-Man
Maybe you haven't added the Heiken Ashi Candle indicator into you indicators folder of your mtf platform - if you are using the template that was posted here you need to have all the indicators that it uses...
Hope this helps
charts
Hi FX-P Soz, i hould have said, I have the indicator already downloaded that indicator and placed in it the Custom Indicators folder, re-started the metatrader platform but still cant get the bars as per your charts.
(P.S im using WHC platform)
great thread FX Pimp. a lot of valuable information here.
keep up the good work
Hi FX-P Soz, i hould have said, I have the indicator already downloaded that indicator and placed in it the Custom Indicators folder, re-started the metatrader platform but still cant get the bars as per your charts. (P.S im using WHC platform)
Heiken_AshiH_cw_mtf.mq4 uses the original Hekien Ashi.mq4 in the code so you need both of them. originally when you install the MT4 it's in the experts/indicators folder but accidents always happen.
just download it and it should work.
Possible
Here's a possible.
With crude finding support a little 1-2-3 might be in order here.
Yes it's against the main 4hr and 60m trend but it has fallen a long long way.
This is what I was expecting this morning and it might happen now.
Keep an eye on the 7CCI for retracement, price bouncing off the 5m 20 ehich will shortly be crossing the 15m 20 and of course the Chairman to sustain a little upward momentum.