Dislikedoh sorry wondering if you ever traded the pound futures or just the spot forex gbp usd thanksIgnored
Ubi maior minor cessat
Mysterio's Cable Corner -- Key Levels, Price Action & Order Flow 785 replies
Updating stops to lock in profits 3 replies
lock pattern for global variable in MT4 2 replies
Dislikedoh sorry wondering if you ever traded the pound futures or just the spot forex gbp usd thanksIgnored
DislikedGB opened with a substantial gap downside from yesterday GB low 31573: if this gap will not be quickly retraced odd are in favor for a continuation downside. Remember that 31163 is the low of the second GB inside week: so it is the most important level here in order to evaluate a success or failure in a possible attempted breakdown from weekly balance.Ignored
DislikedAcceptation below it could in fact lead the market to a substantial at least short term action downside while at the opposite, rejection below it could lead price in the direction of the opposite side of the GB balance.Ignored
DislikedThese are the extremes of the last 3 GB weeks. 2 and 3 are both inside weeks. (bigger numbers are the lows while smaller ones are the highs) First containing GB week range: 30512-33652 First GB inside week range: 31025 (poor low)-33237 Second GB inside week range: 31163-33115 (poor low taken out while 33115 still poor high)Ignored
DislikedRepost here to highlight levels {quote} {quote} {quote} No acceptation below second inside GB week low 31163 and here we have the retracement in the direction of the opposite side of the balance.Ignored
DislikedNow it failed once below second inside GB week low. But now for any meaningful continuation upside we need acceptation above 31637 mid term level. If not watch out for a new test downside. If instead we will have acceptation above it we could continue higher to 3190 as a first step.Ignored
Disliked{quote} Now in order to continue any higher (next visible level is 32273) we need acceptation above 3190 and volume to evade it.Ignored
Disliked{quote} Now in order to continue any higher (next visible level is 32273) we need acceptation above 3190 and volume to evade it.Ignored
Disliked{quote} 32273 weak level (triple Tokyo top) taken out. Now, watch out as we have a very elongated Gb profile leaving downside 3 consecutive separated anomalies. We need acceptation above 3223 for any immediate continuation upside (to 3274 preceded by 32674 previous minor bracket top). If not, composite poc 3190 is a fair place to retrace to, at least temporary.Ignored
Disliked{quote} 32273 weak level (triple Tokyo top) taken out. Now, watch out as we have a very elongated Gb profile leaving downside 3 consecutive separated anomalies. We need acceptation above 3223 for any immediate continuation upside (to 3274 preceded by 32674 previous minor bracket top). If not, composite poc 3190 is a fair place to retrace to, at least temporary.Ignored
Dislikedcould you tell me based off the profile if you look to fade this move or do both short and long play. I am learning profile I have been noticing when a market opens slightly outside of value and then reenters value it seems to go to opposite side of value is this correct. I know there are no absolutes just your opinion in the thread here.Ignored
Disliked{quote} touched. good call and I think it is finding some resistance thereIgnored
Disliked{quote} This could happen but it depends upon market condition (balance or trend) plus a notable amount of other meaningful variables. It is true, instead, that when an attempted break from balance occurred and it failed, then the next natural direction is the opposite side of that balance. And btw it is exactly the situation we experienced this morning when GB failed below the second GB inside week low and then run all session long in the opposite direction towards the opposite side of that inside week (a balance for definition)Ignored
Disliked{quote} my guess is gbp will try to close 3180 if it is rejected at 3267. i still dont know what is special at that levelIgnored
Disliked{quote} You mean 32674? It is the previous minor weekly bracket high. {image}Ignored
Disliked{quote} lock any chance that level will hold today and if it extends how far we travel. we already stretched on the daily todayIgnored