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Cable Update (GBPUSD)

  • #432,461
  • Jun 16, 2016 6:43am Jun 16, 2016 6:43am
Quoting 2012mysterio
i ve 4098 as the low so far..
Of course it is, but after some gyrating and dancing. Look just now Gbp did not break 1.4100 line and reversed up ward.
  • #432,462
  • Jun 16, 2016 6:50am Jun 16, 2016 6:50am
Quoting arasheed
{quote} Of course it is, but after some gyrating and dancing. Look just now Gbp did not break 1.4100 line and reversed up ward.
The move was right below the 2 day GB balance at 14111. When it came back in that balance the possible target is at the opposite extreme of the range. 142135. Right now US is going to open down with gap. We have unsolved levels at 14150 and 14100. And the same targets below as previously described. I'm still flat.
Ubi maior minor cessat
  • #432,463
  • Jun 16, 2016 6:55am Jun 16, 2016 6:55am
Quoting Lock
{quote} The move was right below the 2 day GB balance at 14111. When it came back in that balance the possible target is at the opposite extreme of the range. 142135. Right now US is going to open down with gap. We have unsolved levels at 14150 and 14100. And the same targets below as previously described. I'm still flat.
So if price rises above 4150 or drops below 4100 you'll jump in??
Don't Leave Money on the Table
  • #432,464
  • Jun 16, 2016 6:55am Jun 16, 2016 6:55am
Quoting Lock
{quote} The move was right below the 2 day GB balance at 14111. When it came back in that balance the possible target is at the opposite extreme of the range. 142135. Right now US is going to open down with gap. We have unsolved levels at 14150 and 14100. And the same targets below as previously described. I'm still flat.
Thats right, atm I am on sidelined ,though missed up move.
  • #432,465
  • Jun 16, 2016 7:01am Jun 16, 2016 7:01am
Quoting HaLBot
{quote} So if price rises above 4150 or drops below 4100 you'll jump in??
Right now preUS opened with gap below yesterday. Let's see if it closes the gap or preserve it.
Ubi maior minor cessat
  • #432,466
  • Jun 16, 2016 7:02am Jun 16, 2016 7:02am
If it closes it then 14150 is sure and then we have 14164 and 14192 and more. But if the gap remains and it is confirmed by US pit open then it's a totally different story. In that case I'll use the gap space as a stop loss for a short. But right now I'm flat as said. Observing the market.... The current gap is very tiny anyway.. and considering the upcoming news I don't know if can resist..
Ubi maior minor cessat
  • #432,467
  • Jun 16, 2016 7:08am Jun 16, 2016 7:08am
Gap closed yes low TAGGED. 14145 is weak but pre US can serve as a new downward gap for the pit session.. Let's see.
Ubi maior minor cessat
  • #432,468
  • Jun 16, 2016 7:08am Jun 16, 2016 7:08am
Quoting Lock
{quote} Right now preUS opened with gap below yesterday. Let's see if it closes the gap or preserve it.
Your talkin about the gap up from 4181 to 4186 at 830 GMT yesterday ? I don't see any other gap before yesterdays US open, or maybe I misunderstand you?
Also wouldn't think 5 pip gap would mean anything..
Don't Leave Money on the Table
  • #432,469
  • Jun 16, 2016 7:09am Jun 16, 2016 7:09am
sounds a bit like you digest a book from 1970


Quoting Lock
{quote} Well, in any case there's a ridicolous "multi pass" US pit gap at 14491-14496. I don't know how and when but that is a place of huge interest, at least for me. For the brexit there are multiple possibilities: bracketing around 14215, coming back at 14436 or 14480 and stay there for some time or going down to nowere only to retrace after the big event.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #432,470
  • Jun 16, 2016 7:14am Jun 16, 2016 7:14am
there are no gaps maybe your broker on a 2/5 min



Quoting Lock
{quote} Right now preUS opened with gap below yesterday. Let's see if it closes the gap or preserve it.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #432,471
  • Jun 16, 2016 7:15am Jun 16, 2016 7:15am
uploading pictures is easy ,
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eur usd ,USD (DFB).png Size: 29 KB
Click to Enlarge Name: eur usd d1 USD (DFB).png Size: 31 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #432,472
  • Jun 16, 2016 7:31am Jun 16, 2016 7:31am
14145 is now PH and weaker..
Ubi maior minor cessat
  • #432,473
  • Jun 16, 2016 7:34am Jun 16, 2016 7:34am
about gaps and how I define them.. let's have a little time and I'll tell you.
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  • #432,474
  • Jun 16, 2016 7:39am Jun 16, 2016 7:39am
A gap between sessions is the space considered from the low of the previous session and the open of the current one. The same for the high. A gap above is the space from the high of the previous session and the open of the current one. In today case we opened at 14136 while the yesterday pit session low was at 14145. That by the way has been tagged twice from pre US open. So , for me, is very weak. But now The pit session is not open yet and we are still in the possibility to have a pit gap from yesterday..(to the downside)

Pre US session opens 1hour and a half before pit session.
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  • #432,475
  • Jun 16, 2016 7:48am Jun 16, 2016 7:48am
Now if pit session will open with a downward gap, I may consider the possibility to short using the gap as SL. But there are a lot of things to think about: direction of the major trend, weakness of upper levels, dimension of the gap(edit) and so on..
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  • #432,476
  • Jun 16, 2016 7:53am Jun 16, 2016 7:53am
Quoting Delter1
{quote} GbpUsd pair Downtrend 1.4219 a move down to 1.4044 is most appropriate before regaining new highs
GbpUsd pair Resistance level 1.4044

A Bounce at 1.4044 should produce 722 pips high 1.4764 - if my calculation proves right
  • #432,477
  • Jun 16, 2016 7:55am Jun 16, 2016 7:55am
A note about daily situation: Yesterday was inside the day before. Today is inside yesterday. So we are in a full balance and I generally trade a breakout from balance.
Ubi maior minor cessat
  • #432,478
  • Jun 16, 2016 7:56am Jun 16, 2016 7:56am
Quoting Lock
Now if pit session will open with a downward gap, I may consider the possibility to short using the gap as SL. But there are a lot of things to think about: direction of the major trend, weakness of upper levels and so on..
Interested to hear more about your theories on gap trading in FX.

I get it the concept when applied to some instruments, but on FX - cable in particular - when it's a 24/5 market, and the bulk of the trading in cable is traded OTC during the London session and only a tiny fraction traded over the US exchanges.
  • #432,479
  • Jun 16, 2016 8:14am Jun 16, 2016 8:14am
Quoting gammase1
{quote} Interested to hear more about your theories on gap trading in FX. I get it the concept when applied to some instruments, but on FX - cable in particular - when it's a 24/5 market, and the bulk of the trading in cable is traded OTC during the London session and only a tiny fraction traded over the US exchanges.
Very very good consideration: it was one of my biggest issues coming from futures e-mini S&P 500 and so on. But I'm only an observer not a theorist and what I observed is that what works in e-mini works at least for some aspect in cable and other pairs. Look now how forex trader are actually trading the current pre US session: they stop exactly at the bottom of yes pit session plus they tagget it twice. It' s a case? I don't think so.
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  • #432,480
  • Jun 16, 2016 8:16am Jun 16, 2016 8:16am
Quoting Lock
And major pit targets at 14007 - 13983 Old double pass pit gap
if it doesn't come back in...
Ubi maior minor cessat
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