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Cable Update (GBPUSD)

  • #565,601
  • Dec 15, 2020 3:11am Dec 15, 2020 3:11am
Quoting Moty
They went for the round number the gap can wait They will play on that gap a lot The trapping is here {image}
yes... you right moty, down just for hit sl
even better than mama
  • #565,602
  • Dec 15, 2020 3:17am Dec 15, 2020 3:17am
Quoting TerpFan2
Good Morning Gang, I may get rocks thrown here on this one, But Alessio R. has a pretty good little video on this subject. You may like him, or not, -not my concern here. But on Topic, there is 'Consideration between "Gap Up's vs. Gap Down's". Roll to a little after 4 min's here, and he will get into the Subject. The Long & Short of it is, Gap DOWN's Get Filled Way MORE often, than Gap UP's, and may never or less likely get filled, until some time. Good Video, Check it, U Like, It's still a Magnet of Sorts, as we've noted due to other Various Reason(s)....

Absolutely not true for forex as there are no limits to volumes that can be in the market at anyone time therefore it is more open to being moved around as and how the Institutions etc like to move it to position.
Follow The Markets Structure - Patience and Discipline
  • #565,603
  • Dec 15, 2020 3:27am Dec 15, 2020 3:27am
i dont get this gap debate. its just over the counter type weekend trading. just draw a candle on the gap and thats pretty much it. fill or no fill is just strange talk to me.
  • #565,604
  • Dec 15, 2020 3:29am Dec 15, 2020 3:29am
Quoting pipfarm
{quote} Absolutely not true for forex as there are no limits to volumes that can be in the market at anyone time therefore it is more open to being moved around as and how the Institutions etc like to move it to position.
I was thinking there would be a difference for us in Forex, in that Stocks / Investments want to be MORE Purchased,
and Purchased for "Higher", -Hence the 'GAP-DOWN Filling, "UP", (again), w/Stocks, Investments, etc.
Didn't mean to lead people off the range here. Just interesting stuff.

Thx Pipfarm Good Note
I will work to Objectively Identify my Edges
  • #565,605
  • Dec 15, 2020 3:29am Dec 15, 2020 3:29am
Quoting Maximumheigh
{quote} Good day friends. Offloaded some shorts. Some still running till my TP. {image}
We still have 1.322x on site. I am bearish. IMO
  • #565,606
  • Dec 15, 2020 3:29am Dec 15, 2020 3:29am
Quoting JayBag
{quote} You lost me there bud. You mentioned that the Eu wasn't a BO.. Now you saying price still comes back to test a broken support? Is a broken support not classified as a BO? Not an attack, just trying to understand better. I also get it that you want price to go south and retest hence you defending the GAP idea. However, I tend to disagree

i am not defending the gap idea , i have no positions open either way, its not about the gap, its about price action, s/r s/d etc,,,, EU was a trend continuation, during a trend price as you know makes HH HL , it is perfectly acceptable for price to gap to a new high after a correction and not retest the prior top especially in a very strong trend.

In-fact what retail traders call a break out is completely wrong, a break out is not the break of a prior top during an uptrend, that is a continuation, a long break out is when price trends through a prior downtrend to reverse the trend , ie price is breaking out to a new trend.

Cable on the other hand is in a downtrend when the prior lower low is broken we can assume that price is trying to reverse the trend and will retest the old support which became resistance, if price did not retest then how will we get a trend ,price does not move in a straight line.
Follow The Markets Structure - Patience and Discipline
  • #565,607
  • Dec 15, 2020 3:31am Dec 15, 2020 3:31am
looks breaking and testing of ema50... but surely i'm wrong
but surely I'm wrong
Attached Image (click to enlarge)
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  • #565,608
  • Dec 15, 2020 3:36am Dec 15, 2020 3:36am
looks like Moty is the poster everyone follows here. beware of this sucker's rally which happened yesterday. it by no means makes gbp bullish. false rally based on high expectations does not turn this thing around. 835000 odd jobs have been lost in UK. the number is quite high. So we will have negative rates somewhere down the line. my best guess is 1.30 is somewhere where it needs to go
  • #565,609
  • Dec 15, 2020 3:39am Dec 15, 2020 3:39am
Quoting giveachance
looks like Moty is the poster everyone follows here. beware of this sucker's rally which happened yesterday. it by no means makes gbp bullish. false rally based on high expectations does not turn this thing around. 835000 odd jobs have been lost in UK. the number is quite high. So we will have negative rates somewhere down the line. my best guess is 1.30 is somewhere where it needs to go

You must be joking , the guy blows account after account
Follow The Markets Structure - Patience and Discipline
  • #565,610
  • Dec 15, 2020 3:40am Dec 15, 2020 3:40am
Quoting pipfarm
{quote} You must be joking , the guy blows account after account
I know but he says he makes back most but if he consistently blows them back to back then we have an issue. since many traders follow him he needs to be disciplined

until we get above 1.3370 don't get bullish on this pair. 1.35 is much better. I am flat on this pair
  • #565,611
  • Dec 15, 2020 3:46am Dec 15, 2020 3:46am
Quoting pipfarm
{quote} i am not defending the gap idea , i have no positions open either way, its not about the gap, its about price action, s/r s/d etc,,,, EU was a trend continuation, during a trend price as you know makes HH HL , it is perfectly acceptable for price to gap to a new high after a correction and not retest the prior top especially in a very strong trend. In-fact what retail traders call a break out is completely wrong, a break out is not the break of a prior top during an uptrend, that is a continuation, a long break out is when price trends through...

Fair enough explanation..

I think we have to agree that we perceive PA differently. You have an idea of price retesting lower regardless of the gap. I have idea of price continuing north aggressively without retesting lows.

Why do I think aggressive, that’s where timing comes into play for me.. It’s the 15th of the month and retrace times are done. From these dates onwards, I expect the actual move of the month which in this case is ‘bullish’

To further confirm my bull idea and aggressiveness, I have 1.345 area as a bridge which we talked about yesterday.. The minute we close above that handle, I expect the hull wave to be extremely aggressive and quick ..

The above is only my idea and not facts.

Thanks for taking the time to respond bud.
SS
  • #565,612
  • Dec 15, 2020 3:54am Dec 15, 2020 3:54am
feed the longs
Make money by doing the opposite of Giveachance aka loser
  • #565,613
  • Dec 15, 2020 3:56am Dec 15, 2020 3:56am
Quoting palpite
Still dropping. {image}
And still dropping.

Attached Image (click to enlarge)
Click to Enlarge Name: palpite.png Size: 26 KB
Together we can be strongest
Vantage Return This Month: na
  • #565,614
  • Dec 15, 2020 3:57am Dec 15, 2020 3:57am
The trap is here
Attached Image (click to enlarge)
Click to Enlarge Name: CamScanner 12-15-2020 11.55_1(2).jpg Size: 124 KB
yes yes yes
  • #565,615
  • Dec 15, 2020 4:02am Dec 15, 2020 4:02am
Quoting Moty
The trap is here {image}
if you want to add longs 1.3230 is good area for 30 pips stop.
  • #565,616
  • Dec 15, 2020 4:03am Dec 15, 2020 4:03am
Quoting JayBag
{quote} Fair enough explanation.. I think we have to agree that we perceive PA differently. You have an idea of price retesting lower regardless of the gap. I have idea of price continuing north aggressively without retesting lows. Why do I think aggressive, that’s where timing comes into play for me.. It’s the 15th of the month and retrace times are done. From these dates onwards, I expect the actual move of the month which in this case is ‘bullish’ To further confirm my bull idea and aggressiveness, I have 1.345 area as a bridge which we talked...

Your welcome,

i have to admit and i say this lightheartedly, i have never noticed this phenomenon that all retraces are done by the 15th of the month
Follow The Markets Structure - Patience and Discipline
  • #565,617
  • Dec 15, 2020 4:04am Dec 15, 2020 4:04am
Attached Image (click to enlarge)
Click to Enlarge Name: palpite1.png Size: 11 KB
Together we can be strongest
Vantage Return This Month: na
  • #565,618
  • Dec 15, 2020 4:04am Dec 15, 2020 4:04am
Quoting Moty
The trap is here {image}
No Moty, the drop is here ;-)
A fool and his money are easily parted
  • #565,619
  • Dec 15, 2020 4:08am Dec 15, 2020 4:08am
not really liking the structure of this dip. it will need a couple of hrly candles to resolve. still time but i'm reviewing my call.
In tea leaves we trust!
  • #565,620
  • Dec 15, 2020 4:08am Dec 15, 2020 4:08am
Obiviously its a sell market.. but there is one thing that no retailers would give volume of buy inside the gap.. maybe there are London bankers who are buying inside the range of gap. I am suspecting a range bound market until us opens to take it down.
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