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Cable Update (GBPUSD)

  • #432,581
  • Jun 17, 2016 2:20am Jun 17, 2016 2:20am
Quoting Lock
above(as previously said) we have: Sydney and Tokyo highs are back to back, so is weak at 14293 we have a cluster at 14265 that is very weak and we have the top of the multipass gap at 14284 let's see if the gap below could resist ...
Hey Lock, what makes a cluster weak or strong?
Don't Leave Money on the Table
  • #432,582
  • Jun 17, 2016 2:26am Jun 17, 2016 2:26am
Quoting Lock
above(as previously said) we have: Sydney and Tokyo highs are back to back, so is weak at 14293 we have a cluster at 14265 that is very weak and we have the top of the multipass gap at 14284 let's see if the gap below could resist ...
taken out

but now we have a lot of single pips below. Be carefull and monitor for continuation.
Ubi maior minor cessat
  • #432,583
  • Jun 17, 2016 2:29am Jun 17, 2016 2:29am
scaling out a bit

Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 3 KB
Ubi maior minor cessat
  • #432,584
  • Jun 17, 2016 2:30am Jun 17, 2016 2:30am
14283 is one pip below the top of the multipass gap so is weak.

still consider the amount of single pips below...
Ubi maior minor cessat
  • #432,585
  • Jun 17, 2016 2:33am Jun 17, 2016 2:33am
Quoting Lock
above(as previously said) we have: Sydney and Tokyo highs are back to back, so is weak at 14293 we have a cluster at 14265 that is very weak and we have the top of the multipass gap at 14284 let's see if the gap below could resist ...
all of them taken out. Strike.
Ubi maior minor cessat
  • #432,586
  • Jun 17, 2016 2:35am Jun 17, 2016 2:35am
scaling out more

Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 5 KB
Ubi maior minor cessat
  • #432,587
  • Jun 17, 2016 2:38am Jun 17, 2016 2:38am
Now: we watch above overnight and we came back in. Below there are a lot of single pips and there is the notorious multipass gap to fill. I don't know. I'm flat. And let's see. Maybe we could balance here from 14284 to 14205. Or we can go further to fill the last gap down up to 14393... I really don't now right now
Ubi maior minor cessat
  • #432,588
  • Jun 17, 2016 2:42am Jun 17, 2016 2:42am
Quoting Lock
Now: we watch above overnight and we came back in. Below there are a lot of single pips and there is the notorious multipass gap to fill. I don't know. I'm flat. And let's see. Maybe we could balance here from 14284 to 14205. Or we can go further to fill the last gap down up to 14393... I really don't now right now
Do you only trade GU? Seems you're quite accurate
  • #432,589
  • Jun 17, 2016 2:44am Jun 17, 2016 2:44am
Quoting fxtrader18
{quote} Do you only trade GU? Seems you're quite accurate
Thanks. I generally watch 2 or 3 markets and trade only one at the time. And yes right now I'm only over cable.
Ubi maior minor cessat
  • #432,590
  • Jun 17, 2016 2:51am Jun 17, 2016 2:51am
If we are not able to stay above overnight high. Let's consider the possibility to short from 14284...

if instead GB confirms above it maybe we could go up to 14393...
Ubi maior minor cessat
  • #432,591
  • Jun 17, 2016 2:54am Jun 17, 2016 2:54am
Quoting Lock
If we are not able to stay above overnight high. Let's consider the possibility to short from 14284... if instead GB confirms above it maybe we could go up to 14393...
I have overnight high as 4250...
Don't Leave Money on the Table
  • #432,592
  • Jun 17, 2016 2:56am Jun 17, 2016 2:56am
Right now GB is breaking out from a 4 days balance. So..we can balance here, go forward or retrace back in the balance..
Ubi maior minor cessat
  • #432,593
  • Jun 17, 2016 3:00am Jun 17, 2016 3:00am
Quoting HaLBot
{quote} I have overnight high as 4250...
Overnight high is the top of the market activity during night hours. It means Tokyo or Sydney high in this case and is at 14293.
Right now we are below that. And if we remain here we can go down. If instead there is confirmation above we could think to go higher..
Ubi maior minor cessat
  • #432,594
  • Jun 17, 2016 3:04am Jun 17, 2016 3:04am
Quoting Lock
{quote} Overnight high is the top of the market activity during night hours. It means Tokyo or Sydney high in this case and is at 14293. Right now we are below that. And if we remain here we can go down. If instead there is confirmation above we could think to go higher..

OK I was looking at yesterdays Daily high...because for me Tokyo and Sydney are during the day.
Don't Leave Money on the Table
  • #432,595
  • Jun 17, 2016 3:25am Jun 17, 2016 3:25am
What was the trigger for surge up in Cable? It had risen from lows around 4000 to 4080 and then upto the 4300 region, but last night things were looking grim...
Don't Leave Money on the Table
  • #432,596
  • Jun 17, 2016 3:34am Jun 17, 2016 3:34am
Quoting HaLBot
What was the trigger for surge up in Cable? It had risen from lows around 4000 to 4080 and then upto the 4300 region, but last night things were looking grim...
an extraordinary weakness of the up structure plus the news trigger
Ubi maior minor cessat
  • #432,597
  • Jun 17, 2016 3:36am Jun 17, 2016 3:36am
Quoting Lock
{quote} an extraordinary weakness of the up structure plus the news trigger
What news trigger? Because there was no bit of news during US session that triggered the move so what was it in Asia?

Was it the gains in Oil?
Don't Leave Money on the Table
  • #432,598
  • Jun 17, 2016 3:37am Jun 17, 2016 3:37am
Quoting Lock
{quote} an extraordinary weakness of the up structure plus the news trigger
i am short from 1.4290.. is it chance to break 1.4200 today?
  • #432,599
  • Jun 17, 2016 3:43am Jun 17, 2016 3:43am
Now is above overnight high. Let's see if there is confirmation above or it comes back in.
Ubi maior minor cessat
  • #432,600
  • Jun 17, 2016 4:04am Jun 17, 2016 4:04am
According to my searches, the next scheduled analysis on Brexit is due for release by Opinium over the weekend, in Sunday's Observer. It will be a very subdued day on the campaign front.

So far, 1.4300 is attracting sellers, following the short squeeze following yesterday's news, though the pair is still well bid and a move higher looks the likely path today.
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