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Cable Update (GBPUSD)

  • #455,261
  • Oct 4, 2017 10:52am Oct 4, 2017 10:52am
Deadly today
  • #455,262
  • Oct 4, 2017 11:46am Oct 4, 2017 11:46am
It's more like an up... Let's see if it breaks .3280 level...
Attached Image (click to enlarge)
Click to Enlarge Name: IMG_20171004_194353.jpg Size: 131 KB
  • #455,263
  • Edited 4:12pm Oct 4, 2017 3:50pm | Edited 4:12pm
entered short GBPCAD @ 1.654
i mean, if i were canadian, i wouldnt visit UK, everything ssso expensive there, oh, dear...
:-)
I'll shop after the drop
  • #455,264
  • Oct 4, 2017 8:06pm Oct 4, 2017 8:06pm
Quoting axecap
the news was good...yet not enough to halt the decline, not even to break the range with a knee jerk.......to me that means we march on down..
1.321 then 1.312 and hopefully.....1.3050
Its all just one persons opinion
  • #455,265
  • Oct 5, 2017 12:41am Oct 5, 2017 12:41am
Inserted Video
  • #455,266
  • Oct 5, 2017 1:20am Oct 5, 2017 1:20am
might look for cheap longs near 3126 today...
Look Sharp/Trade Tight
  • #455,267
  • Oct 5, 2017 2:12am Oct 5, 2017 2:12am
what is spike in market ? and also what is reason why gbpusd going sell there is something special reason behind ?
  • #455,268
  • Oct 5, 2017 2:44am Oct 5, 2017 2:44am
Quoting PayTheLimit
might look for cheap longs near 3126 today...
careful....they may not be so cheap....
Its all just one persons opinion
  • #455,269
  • Oct 5, 2017 2:48am Oct 5, 2017 2:48am
Quoting fahadzaman66
what is spike in market ? and also what is reason why gbpusd going sell there is something special reason behind ?
May sneezed....
Its all just one persons opinion
  • #455,270
  • Oct 5, 2017 3:01am Oct 5, 2017 3:01am
Quoting fahadzaman66
what is spike in market ? and also what is reason why gbpusd going sell there is something special reason behind ?
What you've just seen is not a spike. A spike could occur in the last periods of a session and it is generally a test, in one particular direction, that could be verified only at the open of the next similar session. Let's say at the end of the US session you see a spike upside. Then the US session ends and we could not know if this test is accepted by US participants until next US session will open. At that moment in time you could see the reaction of the market to the new price location. Also at that moment in time US participants will know how other previous market participants reacted to their previous test.

In our example, we saw a test upside, then if at next US session open price will be above spike base, US participants will understand that their test has yet to be tested upside as other markets participants accepted at least in part their final efforts upside. If instead at next US open we will see price below the spike base, then US participants will know that other market participants (in this case overnight participants) rejected their last test upside.

As a consequence of this we could apply spike rules at session open in case of a spike made during the previous session: if price will open above spike base, odds are in favor to a new attempt upside and maybe even continuation. If price will be below spike, odds will be in favor of continuation downside, at least initially, as prices upwards have been, for now, rejected.

Obviously if the spike is downside the reaction could intended exactly at the opposite.
Ubi maior minor cessat
  • #455,271
  • Oct 5, 2017 3:05am Oct 5, 2017 3:05am
Quoting Lock
{quote} What you've just seen is not a spike. A spike could occur in the last periods of a session and it is generally a test, in one particular direction, that could be verified only at the open of the next similar session. Let's say at the end of the US session you see a spike upside. Then the US session ends and we could not know if this test is accepted by US participants until next US session will open. At that moment in time you could see the reaction of the market to the new price location. Also at that moment in time US participants will...
Morning that's a double edge sword no ?
  • #455,272
  • Oct 5, 2017 3:16am Oct 5, 2017 3:16am
Quoting fahadzaman66
what is spike in market ? and also what is reason why gbpusd going sell there is something special reason behind ?
reality starting to hit...https://www.forexfactory.com/news.php?do=news&id=704704
Its all just one persons opinion
  • #455,273
  • Oct 5, 2017 3:29am Oct 5, 2017 3:29am
Quoting axecap
{quote} careful....they may not be so cheap....
actually, you may have a point, that area, perhaps has been played....
Look Sharp/Trade Tight
  • #455,274
  • Oct 5, 2017 4:06am Oct 5, 2017 4:06am
Quoting elbert3
{quote} Morning that's a double edge sword no ?
Hi Elbert,
well it has to be considered a useful info but surely it as to be used together with other info provided by the particular market condition.
Ubi maior minor cessat
  • #455,275
  • Oct 5, 2017 4:14am Oct 5, 2017 4:14am
yeah looks like another 50 pips left for profit taking
  • #455,276
  • Oct 5, 2017 4:20am Oct 5, 2017 4:20am
am keeping my sl at 3205
  • #455,277
  • Oct 5, 2017 4:42am Oct 5, 2017 4:42am
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Click to Enlarge Name: GBPUSD H1 (10-05-2017 1439).png Size: 66 KB
  • #455,278
  • Oct 5, 2017 5:52am Oct 5, 2017 5:52am
anybody thinking 1.3050 long term?
  • #455,279
  • Oct 5, 2017 5:55am Oct 5, 2017 5:55am
Added longs.
  • #455,280
  • Oct 5, 2017 6:33am Oct 5, 2017 6:33am
significant update.
Ubi maior minor cessat
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