GBP-USD ATTENTION!!!!
Posted: Sat Apr 21, 2007 7:04 pm
Little bit of Background:
I use Tradestation and I trade only EUR-USD and GBP-USD, I use NORMALIZER 8.1 with xaverage- RSI2 as my main indicators to confirm I use CCI AVE and STOCHASTIC 14. I use SHME DYNAMIC SR for resistance and support.
My daily indicator begun showing me that at 1.9932 4/16 GBP was overbought, my weekly and monthly are pretty much up there since then it when to a high of 2.076. So what is the big deal....??? After all, like the big gurus are saying we are in up trend. That is all true until GBP decide to come down, and that is where I need the help to understand what others in this forum are seeing.
We hit the highest point since June 1981, when I analyze in a monthly base I notice that almost every time we hit a high point our explosive GBP retrace fast and deep like it does in any time frame.
So, let us take February 91 ---5 month and 3875 pips down.
September 1992 ----- 6 month and 8560 pips down.
Now, I'm trying to analyze what happened in those months in a day by day base but unfortunately I can't go that far with Tradestation.
I don't know were to find news about what precipitate these deeps, if any body can help on this I will apreciate the effort.
I use Tradestation and I trade only EUR-USD and GBP-USD, I use NORMALIZER 8.1 with xaverage- RSI2 as my main indicators to confirm I use CCI AVE and STOCHASTIC 14. I use SHME DYNAMIC SR for resistance and support.
My daily indicator begun showing me that at 1.9932 4/16 GBP was overbought, my weekly and monthly are pretty much up there since then it when to a high of 2.076. So what is the big deal....??? After all, like the big gurus are saying we are in up trend. That is all true until GBP decide to come down, and that is where I need the help to understand what others in this forum are seeing.
We hit the highest point since June 1981, when I analyze in a monthly base I notice that almost every time we hit a high point our explosive GBP retrace fast and deep like it does in any time frame.
So, let us take February 91 ---5 month and 3875 pips down.
September 1992 ----- 6 month and 8560 pips down.
Now, I'm trying to analyze what happened in those months in a day by day base but unfortunately I can't go that far with Tradestation.
I don't know were to find news about what precipitate these deeps, if any body can help on this I will apreciate the effort.