XB_Forex_System_V4

download
for further information to mastered this robo indi please open this url http://community.strangled.net/
source : http://adry-fx.blogspot.com/


TREND DIGITAL INDICATORS



download

GBP/YEN try this at home and leave the risk to virtualtester

Cable intraday today

The head and shoulders pattern is generally regarded as a reversal pattern and it is most often seen in uptrends. It is also most reliable when found in an uptrend as well. Eventually, the market begins to slow down and the forces of supply and demand are generally considered in balance. Sellers come in at the highs (left shoulder) and the downside is probed (beginning neckline.) Buyers soon return to the market and ultimately push through to new highs (head.) However, the new highs are quickly turned back and the downside is tested again (continuing neckline.) Tentative buying re-emerges and the market rallies once more, but fails to take out the previous high. (This last top is considered the right shoulder.) Buying dries up and the market tests the downside yet again. Your trendline for this pattern should be drawn from the beginning neckline to the continuing neckline. (Volume has a greater importance in the head and shoulders pattern in comparison to other patterns. Volume generally follows the price higher on the left shoulder. However, the head is formed on diminished volume indicating the buyers aren't as aggressive as they once were. And on the last rallying attempt-the left shoulder-volume is even lighter than on the head, signaling that the buyers may have exhausted themselves.) New selling comes in and previous buyers get out. The pattern is complete when the market breaks the neckline. (source : http://www.chartpatterns.com/headandshoulders.htm)

GBPUSD - We continue to claim that the British Pound is headed for further recovery against the US dollar, as sentiment had clearly reached extremes on GBPUSD declines. Such dynamics are visible in our recent GBPUSD COT Analysis and increased financial media attention on GBP weakness. We wrote recently, “A rally through 1.7705 would signal that the short term trend is up.” The next noteworthy resistance mark now becomes previous spike-highs at 1.7978.

The trend is considered down as long as price is below 1.7974. As low as oscillator readings are on the daily, there is little on the intraday charts that suggest a major turn from current price. Even a push through 1.7705 could complete a flat correction and would not be enough to suggest that the decline is over. Of note is that the pair is now in the middle of a significant congestion and support area from late 2005/early 2006.


source : dailyfx