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Cable Update (GBPUSD)

  • #416,101
  • Jun 3, 2015 8:13am Jun 3, 2015 8:13am
Today's SR Levels on MT4 Templates

EURO

CABLE
USDJPY
GOLD

http://www.forexfactory.com/showthre...36#post8301236

EURO PINK
CABLE PINK

FYI Though i don't post here everyday - the templates are posted everyday in my thread - If you find it useful
Here http://www.forexfactory.com/showthread.php?t=435940
FX is a Bitc*h!, No one keeps me wake all night but FX does!!
  • #416,102
  • Jun 3, 2015 8:16am Jun 3, 2015 8:16am
Quoting alexpi
{quote} Why do you think the sellers there are now buyers?
Computer programs dont have minds so really cant be associated with human emotive catagories such as one can be this or that - dont exist in their world but what does are programmers who come close, you still believe in Bears and Bulls? OK how about father xmas then too?
  • #416,103
  • Jun 3, 2015 8:18am Jun 3, 2015 8:18am
Quoting alexpi
{quote} Why do you think the sellers there are now buyers?
It's how these low price frequency areas work. If price manages to enter the area it goes to the opposite way from where it came from, like air pumps. This zone's trigger for example is 1.53-1.5310. Either turn down quickly if reached or pump 30-40 pips to next congestion.

See DXY for example, the steepness of the price in this area.
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  • #416,104
  • Jun 3, 2015 8:22am Jun 3, 2015 8:22am
Quoting DoNUts
{quote} Computer programs dont have minds so really cant be associated with human emotive catagories such as one can be this or that - dont exist in their world but what does are programmers who come close, you still believe in Bears and Bulls? OK how about father xmas then too?
Believe? There are buyers and sellers, whether you call them bulls and bears or lions and monkeys or illuminati and masons it doesn't matter

In the end even the best programs are written by foolish humans, I wouldn't go out of my way to overestimate algorithms

1.53 nearly printed, so far GBP too weak to get there. If it breaks under 1.5271 before breaking 1.5295 that's that for this pump up. Otherwise accumulate and break for 1.531. Let's see if it's a void or the sell limits are waiting
  • #416,105
  • Jun 3, 2015 8:28am Jun 3, 2015 8:28am
Quoting alexpi
{quote} Believe? There are buyers and sellers, whether you call them bulls and bears or lions and monkeys or illuminati and masons it doesn't matter In the end even the best programs are written by foolish humans, I wouldn't go out of my way to overestimate algorithms 1.53 nearly printed, so far GBP too weak to get there. If it breaks under 1.5271 before breaking 1.5295 that's that for this pump up. Otherwise accumulate and break for 1.531. Let's see if it's a void or the sell limits are waiting
Can't say it works 100% I am not even blindly following, as usually I just do random trades But in the past month I am observing it it seems to give some kind of explanation of some moves.
  • #416,106
  • Jun 3, 2015 8:31am Jun 3, 2015 8:31am
Quoting sakisf
{quote} It's how these low price frequency areas work. If price manages to enter the area it goes to the opposite way from where it came from, like air pumps. This zone's trigger for example is 1.53-1.5310. Either turn down quickly if reached or pump 30-40 pips to next congestion. See DXY for example, the steepness of the price in this area. {image}
Sorry, I'm trying to wrap my head around this, haven't encountered this type of analysis before. The red on the right is the volume of orders as drawn from some source? Based on whether the volume is high or low you plan your trades, expecting quick passage through low-volume areas?

Where is the volume data drawn from? How thorough is the data?

Classic deal flow analysis would dictate that in order for price to move up it needs buy orders or sell stop losses in that area. When those dry up price needs more volume in order to find people willing to buy. If there is nothing there price will drop to a level where participants are willing to buy. Wouldn't it make sense, then, for price to drop from a region like that into a region with heavy volume where there are lots of willing buyers once stop losses and final buy orders have been absorbed? Alternatively if there are no buyers below price goes up rapidly, as it did yesterday once buy stops/sellers dried out at US market open?

Thanks for taking the time to discuss
  • #416,107
  • Jun 3, 2015 8:37am Jun 3, 2015 8:37am
Quoting alexpi
{quote} Believe? There are buyers and sellers, whether you call them bulls and bears or lions and monkeys or illuminati and masons it doesn't matter In the end even the best programs are written by foolish humans, I wouldn't go out of my way to overestimate algorithms 1.53 nearly printed, so far GBP too weak to get there. If it breaks under 1.5271 before breaking 1.5295 that's that for this pump up. Otherwise accumulate and break for 1.531. Let's see if it's a void or the sell limits are waiting
Thats the point here right Lets see ? as in ur not so sure after all
  • #416,108
  • Jun 3, 2015 8:38am Jun 3, 2015 8:38am
Quoting alexpi
{quote} Sorry, I'm trying to wrap my head around this, haven't encountered this type of analysis before. The red on the right is the volume of orders as drawn from some source? Based on whether the volume is high or low you plan your trades, expecting quick passage through low-volume areas? Where is the volume data drawn from? How thorough is the data? Classic deal flow analysis would dictate that in order for price to move up it needs buy orders or sell stop losses in that area. When those dry up price needs more volume in order to find people...
It doesn't take volume in consideration. It is the frequency of a price (pip) hit during 30 min candles. Price histogram or market profile. When there is a low valley, it means that price went quickly through the areas and it hit either a number of stops or orders. It doesn't spend much time there. It goes to the peaks where price accumulation / range is more often in the past.

http://www.forexfactory.com/showthread.php?t=482744

http://www.forexfactory.com/showthread.php?t=277528

You can read those threads if you are interested in the concept. I just adapted it to something more workable for me. Instead of daily, to yearly/monthly profiles.
  • #416,109
  • Jun 3, 2015 8:38am Jun 3, 2015 8:38am
Quoting alexpi
{quote} Believe? There are buyers and sellers, whether you call them bulls and bears or lions and monkeys or illuminati and masons it doesn't matter In the end even the best programs are written by foolish humans, I wouldn't go out of my way to overestimate algorithms 1.53 nearly printed, so far GBP too weak to get there. If it breaks under 1.5271 before breaking 1.5295 that's that for this pump up. Otherwise accumulate and break for 1.531. Let's see if it's a void or the sell limits are waiting
Oh and btw it has to matter ? Guess you never went to law school either
and i dont see anyone here asking you to go out of your way or theirs .. are they
  • #416,110
  • Jun 3, 2015 8:40am Jun 3, 2015 8:40am
Quoting DoNUts
{quote} Thats the point here right Lets see ? as in ur not so sure after all
We're just talking in the end. I'm not trying to confront you or prove anything.

Edit: Sell limit was triggered at 1.5307, SL at 1.5335.

From here if we fail to break under 1.5287/1/5279 I'm out.
  • #416,111
  • Jun 3, 2015 8:46am Jun 3, 2015 8:46am
Quoting sakisf
{quote} It doesn't take volume in consideration. It is the frequency of a price (pip) hit during 30 min candles. Price histogram or market profile. When there is a low valley, it means that price went quickly through the areas and it hit either a number of stops or orders. It doesn't spend much time there. It goes to the peaks where price accumulation / range is more often in the past. http://www.forexfactory.com/showthread.php?t=482744 http://www.forexfactory.com/showthread.php?t=277528 You can read those threads if you are...
I see. In that case it's all about how many buyers/sellers accumulated positions at the bottom and where they placed their take profits/stops, right? Also about whether anyone is willing to buy in the area? If buyers and stops of sellers are more than sellers and take profits of buyers price can easily push through? That's the gist of the logic?

Cool, cool
  • #416,112
  • Jun 3, 2015 8:49am Jun 3, 2015 8:49am
Quoting alexpi
{quote} I see. In that case it's all about how many buyers/sellers accumulated positions at the bottom and where they placed their take profits/stops, right? Also about whether anyone is willing to buy in the area? If buyers and stops of sellers are more than sellers and take profits of buyers price can easily push through? That's the gist of the logic? Cool, cool
Correct! If it comes up to such an area from a congestion area, I expect it to push up quickly, ie. within 1-2 hours to the next congestion without much fight from either side. And the opposite for down. Sometimes this doesn't happen and you need to be quick on the sl / manual close as price moves fast in the area. When it sits in the middle in news time like now, expect a violent move

DXY moved through it easily down, next stop down is marked by the arrow if not saved by ISM & NFP Friday. About 1.15 for EU, GU I don't know because it is restrained by EG currently (My theory for that is that British are preparing to go tour Europe for the summer and the outflows from GBP to EUR are humongous).
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  • #416,113
  • Jun 3, 2015 9:04am Jun 3, 2015 9:04am
Quoting sakisf
{quote} Correct! If it comes up to such an area from a congestion area, I expect it to push up quickly, ie. within 1-2 hours to the next congestion without much fight from either side. And the opposite for down. Sometimes this doesn't happen and you need to be quick on the sl / manual close as price moves fast in the area. When it sits in the middle in news time like now, expect a violent move DXY moved through it easily down, next stop down is marked by the arrow if not saved by ISM & NFP Friday. About 1.15 for EU, GU I don't know because it...
I don't know how cash flows affect currency value, never figured out the logic behind it.

If it breaks 1.5322 I'm out - nothing to stop it before 1.535
  • #416,114
  • Jun 3, 2015 9:35am Jun 3, 2015 9:35am
what an opportunity for new short
  • #416,115
  • Jun 3, 2015 9:44am Jun 3, 2015 9:44am
Quoting Dano12
what an opportunity for new short
Unfinished business before the short Align with the bad usd fundies too.
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  • #416,116
  • Jun 3, 2015 9:58am Jun 3, 2015 9:58am
Quoting sakisf
{quote} Unfinished business before the short Align with the bad usd fundies too. {image}


momentary breath for bulls thanks EUR USD
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  • #416,117
  • Jun 3, 2015 10:14am Jun 3, 2015 10:14am
Quoting DoNUts
{quote} nice one ..
Just in time that this morning too the trade off and the wife was up,, phew,, looks like i missed a good day ,, she is out shopping so just a quick one,, any trade set ups ,,?? out of touch now,,lol
  • #416,118
  • Jun 3, 2015 10:27am Jun 3, 2015 10:27am
5350 could be a sell to 5200 , over 5375 it could go 5430 ,,lets see if it move off 5350
  • #416,119
  • Jun 3, 2015 10:39am Jun 3, 2015 10:39am
Quoting elbert3
5350 could be a sell to 5200 , over 5375 it could go 5430 ,,lets see if it move off 5350
With you there

Now that it's closed the gap I hope to see movement from 5350 so selling again
  • #416,120
  • Jun 3, 2015 10:57am Jun 3, 2015 10:57am
Hello,

first post on this thread. 1.6010 welcomed as a long term target? Just asking.

Monthly chart speaking.

Your thoughts?
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