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Cable Update (GBPUSD)

  • #430,241
  • May 2, 2016 5:59am May 2, 2016 5:59am
Quoting mrhb30jr
GBPUSD M1 above demand area .... long {image}
Updated GU M1 keep move higher from demand area M1 ...

Attached Image (click to enlarge)
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  • #430,242
  • May 2, 2016 6:57am May 2, 2016 6:57am
The UK markets remain closed today in observance of May Day.
Hence thin trading.
  • #430,243
  • Edited May 10, 2016 3:35pm May 2, 2016 6:57am | Edited May 10, 2016 3:35pm
Quoting inRoozaan
{quote} Hi Akt, Interested in your view, supply n demand concept; any source or link to find out more on this? Do you use some external info like news etc or just price actions for supply n demand interpretations? Thanks
Hello inroozaan. Thank you for your question.

No, i don't incorporate news in my approach to the methodology. I know some S&D are aware of news and so may decide to be more careful around those times.
Having said that, usually what drives price into the levels we buy or sell at is exactly that, news.
I try to keep things simple for myself. I can't ever pre-judge market reaction to any piece of news, good or bad, so i don't bother.
I simply follow supply and demand rules as set out in the methodology.

There are numerous sites and entities on the internet about S&D, some are good, some not so good. I can recommend you looking at Supply and demand in a nutshell - a thread here on FF. The owner does a good job at explaining his approach to the methodology.

{ information deleted by staff, per membership policy }

I hope that helps

best wishes
Be careful what you think because your thoughts run your life..Solomon
  • #430,244
  • May 2, 2016 7:05am May 2, 2016 7:05am
Quoting mrhb30jr
{quote} Updated GU M1 keep move higher from demand area M1 ... {image}
Now free Running SL at BE +40 pips

Attached Image (click to enlarge)
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  • #430,245
  • May 2, 2016 7:07am May 2, 2016 7:07am
The GBPUSD continued its bullish momentum last week topped at 1.4670. The bias is bullish in nearest term but as you can see on my daily chart below, we have a Doji after price touched 1.4670 resistance suggests a potential bearish pullback. Immediate support is seen around 1.4550. A clear break below that area could lead price to neutral zone in nearest term testing 1.4500 region. On the upside, clear break and daily close above 1.4670 could trigger further bullish pressure testing daily EMA 200 located around 1.4750
  • #430,246
  • May 2, 2016 7:13am May 2, 2016 7:13am
Quoting Barrg1
{quote} It seems to me that where you have a wave 1, there should be a continuation of the correction under the ABCDE. That is, the wave motion starts with the point that you have signed a 2. IMHO. {image}
Shouldn't price leave your abcde pattern at the opposite side to point e?

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Indentify > Plan > Accept > Execute
  • #430,247
  • May 2, 2016 7:13am May 2, 2016 7:13am
Thanks Magix, you are one of the best

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  • #430,248
  • May 2, 2016 7:23am May 2, 2016 7:23am
absolutely unreasonable up trend. still in short from 4612
  • #430,249
  • May 2, 2016 7:31am May 2, 2016 7:31am
draighi due to squeak squeak today will make eu interesting
  • #430,250
  • May 2, 2016 7:31am May 2, 2016 7:31am
Quoting PatienceFx
Thanks Magix, you are one of the best {image}
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #430,251
  • May 2, 2016 7:32am May 2, 2016 7:32am
Possible bearish Wolfe wave.

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Indentify > Plan > Accept > Execute
  • #430,252
  • May 2, 2016 7:32am May 2, 2016 7:32am
Quoting mihrutkanik
absolutely unreasonable up trend. still in short from 4612
hmmmmm think it took everyone by surprise with thin holiday trading, I was long but didn't think it would go past 4665 and that's pound for you totally unreasonable, hope your covering your short
Don't Leave Money on the Table
  • #430,253
  • May 2, 2016 7:34am May 2, 2016 7:34am
Quoting Captain-
for me no longs until it reaches my marked zone, counter short instead. {image}
I'm still bearish on this pair including au,nu and eu. adding more shorts to it, I call it the END, very much confident, the PA I'm watching on these pairs works great as big reversal most of the time If wrong have my sl at right place,

Cheers
I just don't post analysis I trade it .
  • #430,254
  • May 2, 2016 7:35am May 2, 2016 7:35am
Quoting mihrutkanik
absolutely unreasonable up trend. still in short from 4612
Option expiries 10am NY cut today 2 May

 

  1. USDJPY None of note listed
  2. EURUSD: 1.1400 (EUR 340m) 1.1475 (275m) 1.1500 (1.33bln)
  3. GBPUSD 1.4650 (GBP 759m)*
  4. AUDUSD 0.7700 (AUD 294m) 0.7715 (505m)

  • #430,255
  • May 2, 2016 7:37am May 2, 2016 7:37am
#GBPUSD Price action on pound did not confirm sell off... so I closed all shorts with a loss and went Long @ 1.4234 / 1st Target 1.4687 2nd Target 1.4729 / SL 1.4614 and trailing to recoup my losses.... calculation did not pan out as planned
Attached Image
"W. D. Gann said that time is the most important factor among all things."
  • #430,256
  • May 2, 2016 7:38am May 2, 2016 7:38am
Quoting mihrutkanik
absolutely unreasonable up trend. still in short from 4612
Just be cautious, I don't see any reason right now it can't go to 4880 to complete the pattern at resistance
Attached Image(s) (click to enlarge)
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Come with me if you want to live....
  • #430,257
  • May 2, 2016 7:57am May 2, 2016 7:57am
cable will blast to 4735 in 2 hours
  • #430,258
  • May 2, 2016 7:58am May 2, 2016 7:58am
Quoting PatienceFx
cable will blast to 4735 in 2 hours
time to jump on the gravy train
Don't Leave Money on the Table
  • #430,259
  • May 2, 2016 8:04am May 2, 2016 8:04am
Quoting HaLBot
{quote} time to jump on the gravy train
don't take that as advice lol
Don't Leave Money on the Table
  • #430,260
  • May 2, 2016 8:08am May 2, 2016 8:08am
Quoting PatienceFx
{quote} Option expiries 10am NY cut today 2 May USDJPY None of note listed EURUSD: 1.1400 (EUR 340m) 1.1475 (275m) 1.1500 (1.33bln) GBPUSD 1.4650 (GBP 759m)* AUDUSD 0.7700 (AUD 294m) 0.7715 (505m)
Its all right now they good to go down.
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