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Cable Update (GBPUSD)

  • #428,661
  • Apr 17, 2016 2:41pm Apr 17, 2016 2:41pm
GBP/CAD premarket 1.8404 = ~ 200 PIP gap up
Attached Image (click to enlarge)
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  • #428,662
  • Apr 17, 2016 2:44pm Apr 17, 2016 2:44pm
Quoting otttkris
GBP/CAD premarket 1.8404 = ~ 200 PIP gap up
holly shit, that's nuts, but you are right.
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  • #428,663
  • Apr 17, 2016 2:50pm Apr 17, 2016 2:50pm
Good deal GCAD trading higher can drag GU higher also. Thank you!
  • #428,664
  • Apr 17, 2016 3:42pm Apr 17, 2016 3:42pm
Quoting asgcorp
I prefer to look at sup/res based on volume clusters price will choose the path of least resistance, the bull case is not cast in stone, that's why I'm saying that 4240 and 4180 is key atm, price sliding below 4180 will allow for 3960, however upside momentum buildup above 4240 will have the price travel at the path of least resistance and this means all the way up to 4500. {image}
​that volume isn't just going to stay like that the whole way though, at certain levels volumes will increase/decrease and orders will be filled, especially before prev swing highs, pivots, obvious sup/res...
  • #428,665
  • Apr 17, 2016 3:50pm Apr 17, 2016 3:50pm
to some extent this is true but my profile is cumm volume 2016 YTD ))) so it's pretty strong already
  • #428,666
  • Apr 17, 2016 3:50pm Apr 17, 2016 3:50pm
Short Limit Order Placed - 1.42224 (SL - 1.42440) (TP - 1.40000)

Scalp believing it'll reject the Descending Wedge forming in the short term (4H)
Success is going from failure to failure without loss of enthusiasm.
  • #428,667
  • Apr 17, 2016 3:52pm Apr 17, 2016 3:52pm
Quoting asgcorp
to some extent this is true but my profile is cumm volume 2016 YTD ))) so it's pretty strong already
​
okay, you need to explain it more for me to understand, I don't use volume as an indicator like that, cheers
  • #428,668
  • Apr 17, 2016 3:55pm Apr 17, 2016 3:55pm
see attached. pretty good summary on the vol profile strats. I also like to keep things simple. I don't do advanced stuff and I'm in no way a pro in volume and volume isn't main part of my trading strat. Mostly I'd use plain volume on H4 to get an idea of a strength/weakness of certain levels on the chart + use the profile to get a good idea of the direction.
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File Type: pdf Strategy-80PercentRule.pdf   331 KB | 2,073 downloads
  • #428,669
  • Apr 17, 2016 3:59pm Apr 17, 2016 3:59pm
Well, since I don´t predict, so I don´t use any indicator or volume info, etc...I don´t care about all this stuff, however I am curious...I thought nobody knew about volume in Forex market...mmm....
  • #428,670
  • Apr 17, 2016 4:02pm Apr 17, 2016 4:02pm
Quoting forexintradi
Well, since I dont predict, so I dont use any indicator or volume info, etc...I dont care about all this stuff, however I am curious...I thought nobody knew about volume in Forex market...mmm....
...anyway, since I am profitable being totally ignorant about what happen in the world (except to stay away of trading in relevant news), how much volume, or any other information coming from outsite my graphic...and I only hear what price is doing in the moment....good luck to everybody doing it that way and making money!
  • #428,671
  • Apr 17, 2016 4:06pm Apr 17, 2016 4:06pm
gaps?

Stirring the pot here
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPCHFH1.png Size: 26 KB
Click to Enlarge Name: EURGBPWeekly.png Size: 29 KB
Click to Enlarge Name: EURGBPH1.png Size: 24 KB
Click to Enlarge Name: EURUSDWeekly.png Size: 28 KB
Click to Enlarge Name: EURUSDH1.png Size: 21 KB
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  • #428,672
  • Apr 17, 2016 4:07pm Apr 17, 2016 4:07pm
yeah for GCHF and GJ gap down there is also GCAD and GAUD gap up. )) So it's all good bro.
  • #428,673
  • Apr 17, 2016 4:13pm Apr 17, 2016 4:13pm
Quoting asgcorp
yeah for GCHF and GJ gap down there is also GCAD and GAUD gap up. )) So it's all good bro.


Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH4.png Size: 27 KB
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  • #428,674
  • Apr 17, 2016 4:13pm Apr 17, 2016 4:13pm
Quoting forexintradi
{quote} ...anyway, since I am profitable being totally ignorant about what happen in the world (except to stay away of trading in relevant news), how much volume, or any other information coming from outsite my graphic...and I only hear what price is doing in the moment....good luck to everybody doing it that way and making money!
I agree with you volume is not required for profitable trading. Pretty much if you are good at spotting supply/demand zones you already good at seeing market volume distribution. Still it's a nice addition and definately much better than moving averages and other flashing indies on the charts.
  • #428,675
  • Apr 17, 2016 4:14pm Apr 17, 2016 4:14pm
Quoting Ill-b-back
{quote}
We'll have to see what LO does, obviously oil trading is still not up yet so the market yet to absorb the latest news.
  • #428,676
  • Apr 17, 2016 4:16pm Apr 17, 2016 4:16pm
Quoting asgcorp
{quote} We'll have to see what LO does, obviously oil trading is still not up yet so the market yet to absorb the latest news.
what is LO?

London?
Come with me if you want to live....
  • #428,677
  • Apr 17, 2016 4:19pm Apr 17, 2016 4:19pm
Quoting Ill-b-back
{quote} {image}
But for the record you could be right on GU. The gap down is there, so definately pressure on the downside will have to see what LO does.
I'll trade the direction which is set post-London, not interested in acting the forecasting game until the account blows up.
  • #428,678
  • Apr 17, 2016 4:19pm Apr 17, 2016 4:19pm
Quoting Ill-b-back
{quote} what is LO? London?
london open
  • #428,679
  • Apr 17, 2016 4:24pm Apr 17, 2016 4:24pm
Thats no gap down. FXCM closed at 1.4195 and opened at 1.4196. Maybe some brokers got gap but some don't.
  • #428,680
  • Apr 17, 2016 4:25pm Apr 17, 2016 4:25pm
eu in a funny spot after weekly retest

eg area?

edit: eg monthly chart
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSDWeekly.png Size: 32 KB
Click to Enlarge Name: EURUSDH4.png Size: 28 KB
Click to Enlarge Name: EURGBPMonthly.png Size: 25 KB
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