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Cable Update (GBPUSD)

  • #181,901
  • Nov 10, 2009 12:03am Nov 10, 2009 12:03am
Quoting alex1976
could you please explain what "gap filled" means?

Pardon me for my ignorance.
go n find this book

Big Profit Patterns Using Candlestick Signals and Gaps - Stephen W. Bigalow..

Otherwise PM me I send out to you later...
  • #181,902
  • Nov 10, 2009 12:06am Nov 10, 2009 12:06am
Quoting Magix
Gap fill to us MT4 guys is like a FAKE BREAK OUT to you I guess.

Like leprechauns n unicorns, they are only there for those that want to see them.


you got to remember mt traders make up about a small fraction of overall markets .. think the big interbank players are using mt4 ?

they have their own software developed no doubt and i bet they show no gap either lol

could make for an interesting London session that convenient news they threw out in the middle of a low volume session ....... if you get my drift

if news really is taken as bad then gu could go into free fall ....

if this is some kind of mark down then it is not designed to end up back at 1.6850 and we could see higher prices . I have seen 600 pip moves one way in asia , only to have move reversed 100 % in London and 24 hours later price was 1500 pip in the opposite direction
Blogging daily now at www.volume.zone
  • #181,903
  • Nov 10, 2009 12:07am Nov 10, 2009 12:07am
Quoting Jade Gate
Rumours that BIS are selling cable, i.e. buying up the EG cross.

Don't tangle with these guys.
Thanks for the information Jade.
  • #181,904
  • Nov 10, 2009 12:08am Nov 10, 2009 12:08am
Definetly found support at 1.6600. I take this at market correction from opening so high at the start of this week.
Trade Like a Robot make money Like a Bank
  • #181,905
  • Nov 10, 2009 12:09am Nov 10, 2009 12:09am
Quoting malcolmb14
you got to remember mt traders make up about a small fraction of overall markets .. think the big interbank players are using mt4 ?

they have their own software developed no doubt and i bet they show no gap either lol

could make for an interesting London session that convenient news they threw out in the middle of a low volume session ....... if you get my drift

if news really is taken as bad then gu could go into free fall ....

if this is some kind of mark down then it is not designed to end up back at 1.6850 and we could see higher...
Whether you play the gaps or not, may just be coincidence, whatever...

My point is, I always plays em, and always fills em.

Looking @ the daily chart, we could easily go into free fall.

It's funny Mal, a couple short weeks ago, I was long, you were short...funny we on opposite sides o the trade again.

A break and hold below 1.6447 on daily is free fall time.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #181,906
  • Nov 10, 2009 12:09am Nov 10, 2009 12:09am
Quoting Jade Gate
Malcolm, did you see my earlier post a few mins ago?

yes thank you for that

to tell you the truth I am not buying it ....check out the ultra high volume on low spread bar that happened at bottom of down move ....that is buyers not sellers

I think this is shake out , but am staying out the market till I can determine what they are up to

I just came down to check email and saw this crazy move. I have been trying to trade only US and mostly the ES futures

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  • #181,907
  • Nov 10, 2009 12:10am Nov 10, 2009 12:10am
The market profile indicator generally does a good job of finding targets / contract volume points of control.

However I've found that price being above the previous day's point of control is not a very reliable indicator that price will rise the next day. Price action around the point of control is needed to establish short term (i.e. a few hours) intra-day direction. The drop a short while ago is a case in point.

Next point of control is 1.6513, but we may very well bounce from the current point. we'll see how PA plays out.
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  • #181,908
  • Nov 10, 2009 12:13am Nov 10, 2009 12:13am
Quoting Magix
Whether you play the gaps or not, may just be coincidence, whatever...

My point is, I always plays em, and always fills em.

Looking @ the daily chart, we could easily go into free fall.

It's funny Mal, a couple short weeks ago, I was long, you were short...funny we on opposite sides o the trade again.
I was trading longs gj today ... well one trade

was long ES all day and long oil ....

i agree daily does look like tweezers forming BUT we still have 15 hours to go till it ends . I am not buying the down move... meaning i do not think this is real and is some form of trap
Blogging daily now at www.volume.zone
  • #181,909
  • Nov 10, 2009 12:15am Nov 10, 2009 12:15am
Someone is taking the bicycle pump to it right now, and pumping it back up. Careful on Long here... I have a feeling the Market Makers are trying to punch out all the stop loss orders they can right now. Billions of $$ getting stopped our right now.
Trade Like a Robot make money Like a Bank
  • #181,910
  • Nov 10, 2009 12:18am Nov 10, 2009 12:18am
Quoting treasurecay25
holding my shorts still do we see a break of 66? Target the old 6420?
Guess not on this go around at least
  • #181,911
  • Nov 10, 2009 12:19am Nov 10, 2009 12:19am
Quoting malcolmb14
I was trading longs gj today ... well one trade

was long ES all day and long oil ....

i agree daily does look like tweezers forming BUT we still have 15 hours to go till it ends . I am not buying the down move... meaning i do not think this is real and is some form of trap
For the length of time that I actually hold trades, which is a matter minutes to hours, and typically only during my waking hours, long term direction is only moderately important.

I was chatting Grashid about a correction on the 4hr last night, it has only begun. I learned a long time ago playing the pennies, not to catch a falling knife, so Ima gunna play this like a short chart until I see reason not to.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #181,912
  • Nov 10, 2009 12:22am Nov 10, 2009 12:22am
does anybody could tell me why the Cable is droping like that? there is no news coming from..... could it be a stoploss hunt from who that can move the market? thanks
  • #181,913
  • Nov 10, 2009 12:22am Nov 10, 2009 12:22am
Quoting raz
Someone is taking the bicycle pump to it right now, and pumping it back up. Careful on Long here... I have a feeling the Market Makers are trying to punch out all the stop loss orders they can right now. Billions of $$ getting stopped our right now.
the bs move was the down move

I thought gbp had already lost its AAA rating to be honest that news out there
in may

if this was a shake out then we could see higher prices than 1.7000

it is a game pros do, to shake out weak longs and entice shorts .. then they rip it back up and the up move is faster breaking old highs ..as longs that got stopped out on down move or want to take advantage of weakness pile on and shorts are getting stopped out left right and centre ... kind of like the perfect storm
Blogging daily now at www.volume.zone
  • #181,914
  • Nov 10, 2009 12:22am Nov 10, 2009 12:22am
why dun we take long after the free fall just now...

come..another 100pips to go as my bonus this week..

already half way for both of them GU n GY...

Good luck all...

See all of u in US
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  • #181,915
  • Nov 10, 2009 12:24am Nov 10, 2009 12:24am
Quoting Magix
For the length of time that I actually hold trades, which is a matter minutes to hours, and typically only during my waking hours, long term direction is only moderately important.

I was chatting Grashid about a correction on the 4hr last night, it has only begun. I learned a long time ago playing the pennies, not to catch a falling knife, so Ima gunna play this like a short chart until I see reason not to.

we can both make money

here is 5 min showing all the buyerso n dip gj right at 149 .....got my 50 pip back and some

targeting 150


this is what i saw earlier was just a bit early

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  • #181,916
  • Nov 10, 2009 12:27am Nov 10, 2009 12:27am
Quoting malcolmb14
the bs move was the down move

I thought gbp had already lost its AAA rating to be honest that news out there
in may

if this was a shake out then we could see higher prices than 1.7000

it is a game pros do, to shake out weak longs and entice shorts .. then they rip it back up and the up move is faster breaking old highs ..as longs that got stopped out on down move or want to take advantage of weakness pile on and shorts are getting stopped out left right and centre ... kind of like the perfect storm

well the brokers have to make their bucks, while I watch the market depth screen(on MBTrading Navigator) showing open positions are now 60% gone, wipped out. Everything going on is good as a flip of a coin right now.
Trade Like a Robot make money Like a Bank
  • #181,917
  • Nov 10, 2009 12:28am Nov 10, 2009 12:28am
Quoting Magix
For the length of time that I actually hold trades, which is a matter minutes to hours, and typically only during my waking hours, long term direction is only moderately important.

I was chatting Grashid about a correction on the 4hr last night, it has only begun. I learned a long time ago playing the pennies, not to catch a falling knife, so Ima gunna play this like a short chart until I see reason not to.


Trade in what we see in our chart
  • #181,918
  • Nov 10, 2009 12:28am Nov 10, 2009 12:28am
It's either really low volume today or Gordon Brown gave birth or something. . I think this is a shake out myself. The Cable had a difficult time getting above 1.6760 for a short time, and at the same time GJ had a tough time getting above 150.80 for a short time. However for there to be this big of a selloff on both without any news that we as average investors haven't heard about yet leads me to believe that it was low volume and the big dogs are just shaking things out.

Looking for proof that price is going to continue up before I go long and price needs to break past 1.6600 for me to short. Patience is key right now.
  • #181,919
  • Nov 10, 2009 12:33am Nov 10, 2009 12:33am
to some one who need (Alex take a look on this)

The gap theory by stephen W.Bigalow..........

...this is what i try to read n find from one of my PA guru's material

Good luck to all
Attached File(s)
File Type: pdf Big Profit Patterns Using Candlestick Signals and Gaps - Stephen W. Bigalow.pdf   737 KB | 1,068 downloads
  • #181,920
  • Nov 10, 2009 12:34am Nov 10, 2009 12:34am
With the bank holiday coming up. I don't think there is enough volume or luck to push up to the 1.6760-1.6780 before veterens days. This may have to sit and wait till next week. Mid week holidays usually will freeze the volatility for the remaining of this week. Careful not to tie yourself in a high TP position before the holiday.
Trade Like a Robot make money Like a Bank
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