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Cable Update (GBPUSD)

  • #432,441
  • Jun 16, 2016 3:58am Jun 16, 2016 3:58am
Quoting limzy
only time will tell...hope it holds tho
Those good sales figures can't be ignored for too long....but BoE rate decision later today will be weighing on traders minds. The decision we all know but the report that goes with it is what's important.
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  • #432,442
  • Jun 16, 2016 4:10am Jun 16, 2016 4:10am
Little RECAP:

  1. 14218 yes pit high is BtB with 14/06 Tokyo high so is weak
  2. right below we have the 14204 weak GB today high: it's weak because it's tagging the base of the GB multipass gap 14204-14284.
  3. then we have the weak level at yes unch 14192
  4. We are currently at GB half back and we are not able to stay above yes unch and close (14180)
  5. Below we have a weak level at round 14150 and the "longer" timeframe targets at 14105(yes Tokyo PL) and 14093(yes Sydney PL).
  6. Between them there is a pit weak level at round 14100.
  7. And right below Sydney PL we have a weak BtB pit low(06/14) at 14090 with a previous GB low (04/14)
  8. we are inside yes GB range.

Ubi maior minor cessat
  • #432,443
  • Jun 16, 2016 4:17am Jun 16, 2016 4:17am
Quoting Lock
Little RECAP: 14218 yes pit high is BtB with 14/06 Tokyo high so is weak right below we have the 14204 weak GB today high: it's weak because it's tagging the base of the GB multipass gap 14204-14284. then we have the weak level at yes unch 14192 We are currently at GB half back and we are not able to stay above yes unch and close (14180) Below we have a weak level at round 14150 and the "longer" timeframe targets at 14105(yes Tokyo PL) and 14093(yes Sydney PL). Between them there is a pit weak level at round 14100 we are inside yes GB range.
Hey Lock..


What do you mean by "unch" ????
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  • #432,444
  • Jun 16, 2016 4:22am Jun 16, 2016 4:22am
unch= unchanged. It means the close price for the previous x session. For instance yes Pit session unchanged is at 14201. They are notable prices for weak money (trading money). Righ now we can see a GB high 3 pips above yes GB unch. Who do you think is selling from there?
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  • #432,445
  • Jun 16, 2016 4:30am Jun 16, 2016 4:30am
Quoting Lock
unch= unchanged. It means the close price for the previous x session. For instance yes Pit session unchanged is at 14201. They are notable prices for weak money (trading money). Righ now we can see a GB high 3 pips above yes GB unch. Who do you think is selling from there?
That's a good question....my guess is it's sellers trying to hold 4170, but I think it will go higher due to good sales figures and dollar index of of highs..

Hourly is looking bullish to me but will be capped by 100sma at 4200 as well as pychological level....push above there to the 4230 area
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  • #432,446
  • Jun 16, 2016 4:38am Jun 16, 2016 4:38am
Quoting HaLBot
{quote} That's a good question....my guess is it's sellers trying to hold 4170, but I think it will go higher due to good sales figures and dollar index of of highs.. Hourly is looking bullish to me but will be capped by 100sma at 4200 as well as pychological level....push above there to the 4230 area
Although just got capped by the 20sma on hourly at 4177...
Don't Leave Money on the Table
  • #432,447
  • Jun 16, 2016 4:49am Jun 16, 2016 4:49am
Quoting HaLBot
{quote} That's a good question....my guess is it's sellers trying to hold 4170, but I think it will go higher due to good sales figures and dollar index of of highs.. Hourly is looking bullish to me but will be capped by 100sma at 4200 as well as pychological level....push above there to the 4230 area

It was a rhetorical question. For sure those who are selling from a weak level are weak hands. The problem here is to understand how far a weak move could go and if the weak hands below are currently weaker then the "above" weak hands or vice versa. Anyway I'm flat and I do not lean in to the air right before major news.
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  • #432,448
  • Jun 16, 2016 4:52am Jun 16, 2016 4:52am
To understand the weakness of the current money involved in this session have a look to the high and low of overnight market: None of the two have been tested yet. Sydeny high at 14211 and Tokyo low at 14119 are "untouched". And 3 hours are passed from GB open...
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  • #432,449
  • Jun 16, 2016 4:55am Jun 16, 2016 4:55am
Quoting Lock
To understand the weakness of the current money involved in this session have a look to the high and low of overnight market: None of the two have been tested yet. Sydeny high at 14211 and Tokyo low at 14119 are "untouched". And 3 hours are passed from GB open...
Yep...good point.
Don't Leave Money on the Table
  • #432,450
  • Jun 16, 2016 4:59am Jun 16, 2016 4:59am
Quoting limzy
only time will tell...hope it holds tho
GbpUsd pair Downtrend 1.4219 a move down to 1.4044 is most appropriate before regaining new highs
  • #432,451
  • Jun 16, 2016 5:29am Jun 16, 2016 5:29am
Quoting Lock
Little RECAP: 14218 yes pit high is BtB with 14/06 Tokyo high so is weak right below we have the 14204 weak GB today high: it's weak because it's tagging the base of the GB multipass gap 14204-14284. then we have the weak level at yes unch 14192 We are currently at GB half back and we are not able to stay above yes unch and close (14180) Below we have a weak level at round 14150 and the "longer" timeframe targets at 14105(yes Tokyo PL) and 14093(yes Sydney PL). Between them there is a pit weak level at round 14100. And right below Sydney...

Weak round level at 14150 taken out but we come from hb 14164 ( 3 pips above ) and from yes unch 14192 ( 3 pips above ). So I'm still flat.

Targets below abviously remain unprotected.
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  • #432,452
  • Jun 16, 2016 5:41am Jun 16, 2016 5:41am
GB Poor low and weak round level at 14150
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  • #432,453
  • Jun 16, 2016 5:45am Jun 16, 2016 5:45am
Exponential odds to come down and take out the 3 targets (all Poor lows 14125 GB poor low + 14105(yes Tokyo PL) and 14093(yes Sydney PL) ) But before maybe we have to correct something above. (like the round 14150 or more)
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  • #432,454
  • Jun 16, 2016 5:59am Jun 16, 2016 5:59am
And major pit targets at 14007 - 13983 Old double pass pit gap
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  • #432,455
  • Jun 16, 2016 6:04am Jun 16, 2016 6:04am
Quoting Lock
GB Poor low and weak round level at 14150

GB poor low taken out, Tokyo low tested and back in range again. TO go down we have to confirm below Tokyo low at 14119
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  • #432,456
  • Jun 16, 2016 6:10am Jun 16, 2016 6:10am
Quoting Lock
Exponential odds to come down and take out the 3 targets (all Poor lows 14125 GB poor low + 14105(yes Tokyo PL) and 14093(yes Sydney PL) ) But before maybe we have to correct something above. (like the round 14150 or more)
Two of them taken out. 14100 is weak
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  • #432,457
  • Jun 16, 2016 6:12am Jun 16, 2016 6:12am
Quoting Lock
{quote} Two of them taken out. 14100 is weak
Came down to 1.4101
  • #432,458
  • Jun 16, 2016 6:15am Jun 16, 2016 6:15am
Quoting arasheed
{quote} Came down to 1.4101
1.4100 is BRN but 1.4090 is not ruled out.
  • #432,459
  • Jun 16, 2016 6:29am Jun 16, 2016 6:29am
i ve 4098 as the low so far..
  • #432,460
  • Jun 16, 2016 6:42am Jun 16, 2016 6:42am
Quoting Lock
Exponential odds to come down and take out the 3 targets (all Poor lows 14125 GB poor low + 14105(yes Tokyo PL) and 14093(yes Sydney PL) ) But before maybe we have to correct something above. (like the round 14150 or more)
14150 in correction as said...
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