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Cable Update (GBPUSD)

  • #432,681
  • Jun 17, 2016 9:33am Jun 17, 2016 9:33am
Quoting HaLBot
{quote} Cable could head up all US session and then drop of right towards the end, or as I'm tipping Bulls will get exhausted and the sell off will happen a few hours before end of session. My SL is at 4335 and can still go long to cover my short trade if needed. Only thing that matters is after every trade do you learn something and are you a better trader next time....
My suggestion is: take the market a chunk at a time. Us pit watched above overnight and by now, it failed to stay above it. But we come from a pit gap higher. You could sell from there(I mean overnight high). keeping your SL right above overnight high. Infact, if it comes above again you wouldn't remain short? Wouldn't you? And your risk is low. But now, if you ask me, would you like to sell? Maybe, but where to put a low risk SL here? We are right below 14300 that is very weak. and there is still the pit gap below as support.. So there is a time and a place for averything. But you have to controll the only thing you really can controll: risk. And now there is not a place to sell without a notable risk. If I miss a trade, I miss a trade: so what?
Ubi maior minor cessat
  • #432,682
  • Jun 17, 2016 9:43am Jun 17, 2016 9:43am
Lock - what is a pit gap
  • #432,683
  • Jun 17, 2016 9:43am Jun 17, 2016 9:43am
Quoting Lock
{quote} My suggestion is: take the market a chunk at a time. Us pit watched above overnight and by now, it failed to stay above it. But we come from a pit gap higher. You could sell from there(I mean overnight high). keeping your SL right above overnight high. Infact, if it comes above again you wouldn't remain short? Wouldn't you? And your risk is low. But now, if you ask me, would you like to sell? Maybe, but where to put a low risk SL here? We are right below 14300 that is very weak. and there is still the pit gap below as support.. So there...

"So What".....your spot on there, plenty more trades just around the corner....
Don't Leave Money on the Table
  • #432,684
  • Jun 17, 2016 9:46am Jun 17, 2016 9:46am
Quoting Fader123
Lock - what is a pit gap
Please, look at previous posts. there are also some images. It is the "empty" space from the high or the low of the previous pit session and the open of the current pit session. Pit session opens 1hour and a half after what you call US open.
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  • #432,685
  • Jun 17, 2016 9:50am Jun 17, 2016 9:50am
Quoting HaLBot
{quote} "So What".....your spot on there, plenty more trades just around the corner....
It means I don't care to lose an opportunity if I cannot ensure my risk limitations at the same time. because maybe I can lose a huge move today, but on the long distance I've to survive and if I want survive I always need to take care of risk first.
Ubi maior minor cessat
  • #432,686
  • Jun 17, 2016 9:50am Jun 17, 2016 9:50am
Yeah so 9.30am NY time....
Don't Leave Money on the Table
  • #432,687
  • Jun 17, 2016 9:51am Jun 17, 2016 9:51am
Quoting Lock
{quote} It means I don't care to lose an opportunity if I cannot ensure my risk limitations at the same time.
Hey Lock I'm totally agreeing with you M8....
Don't Leave Money on the Table
  • #432,688
  • Jun 17, 2016 9:55am Jun 17, 2016 9:55am
Quoting Lock
{quote} Please, look at previous posts. there are also some images. It is the "empty" space from the high or the low of the previous pit session and the open of the current pit session. Pit session opens 1hour and a half after what you call US open.

Cheers

  • #432,689
  • Jun 17, 2016 9:55am Jun 17, 2016 9:55am
Draghi up in 5 minutes.......
Don't Leave Money on the Table
  • #432,690
  • Jun 17, 2016 9:58am Jun 17, 2016 9:58am
Now, we are in a balance. Last 30min bar is inside previous one. Rules are: go with breakout. But there is huge uncertainty so...
Ubi maior minor cessat
  • #432,691
  • Jun 17, 2016 10:01am Jun 17, 2016 10:01am
14300 round number, 14296 is pit open: both weak. Pit gap still in place.
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  • #432,692
  • Jun 17, 2016 10:16am Jun 17, 2016 10:16am
An overnight liquidation could occur anyway even from weak levels
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  • #432,693
  • Jun 17, 2016 10:17am Jun 17, 2016 10:17am
14270 PL you have also to consider the pre US poor low at 14261
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  • #432,694
  • Jun 17, 2016 10:21am Jun 17, 2016 10:21am
Quoting Lock
Now, we are in a balance. Last 30min bar is inside previous one. Rules are: go with breakout. But there is huge uncertainty so...
it's beaking down from inside 30 min bar. If you sell from it you do not want to see price retrace inside.
Ubi maior minor cessat
  • #432,695
  • Jun 17, 2016 10:25am Jun 17, 2016 10:25am
It's trying to fill the gap down to 14253
let's see

14261 is now weaker
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  • #432,696
  • Jun 17, 2016 10:31am Jun 17, 2016 10:31am
if you are selling carry this information forward: 14300 round number, 14296 is pit open: both weak. Maybe it can regret those because it is friday. But anyway it's a thing to remember.

"Tempo" is exceptionally slow. watch out
Ubi maior minor cessat
  • #432,697
  • Jun 17, 2016 10:34am Jun 17, 2016 10:34am
Hi g
the shift is the thing ,its sad news but I don't see the connection

https://www.ig.com/uk/brexit/news-and-analysis


Quoting gammase1
The below chart shows how IG Group are pricing the risk of Brexit. Following yesterday's news, the odds of the UK remaining within the EU have jumped to 67%. This is pretty much in line with bookmakers offering odds on the outcome. Interestingly, even when Leave have taken a lead in the opinion polls, the bookmakers, including IG Group, have alwas favoured a Remain outcome, pricing the odds of remaining above 55%. I guess this is anomaly is based on the assumption that, from using previous referendums as case studies, undecided voters are generally...
Attached Image (click to enlarge)
Click to Enlarge Name: 17 Jun 2016 04-33-11.png Size: 36 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #432,698
  • Jun 17, 2016 10:35am Jun 17, 2016 10:35am
hi lock, i am a total newbie / rube. thanks for the market commentary. i understand just a little of it. can you please put in brackets what you expect the cable to move, that would help a lot, thanks,
  • #432,699
  • Jun 17, 2016 10:40am Jun 17, 2016 10:40am
err ,wouldn't then everyone coming even if they swam the channel be illegal ,
no access to to the health /benefit system ,not able to work legally
the attraction


Quoting hippiedog
{quote} Very interesting I agree, thanks for info.I do not see how leaving is going to help immigration, these people are desperate and hungry and as soon as we leave all our outpost boarder checks will no longer have UK guards in these posts and why on earth would France now make any effort to prevent them entering when they want them to leave, i hope you all see this and realise it is an absolute no brainer.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #432,700
  • Jun 17, 2016 10:53am Jun 17, 2016 10:53am
Quoting Lock
if you are selling carry this information forward: 14300 round number, 14296 is pit open: both weak. Maybe it can regret those because it is friday. But anyway it's a thing to remember. "Tempo" is exceptionally slow. watch out
and now 14290 is pit hb, weak.. and we came back in to 30 min balance once for now.

while 14261 remain very weak
Ubi maior minor cessat
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