Cable Update (GBPUSD)

I'm here for GBPUSD news and it looks like the pair is very risky right now.

GU dropped slitly after meeting 1.4600 and turned sideway. It is hard to say it will go up or down.

It's going to test the early morning high(14608). Let's see if it could consolidate above or not. After that we have tokyo high (overnight high) to test(14622). 14608 is still weak.

taken out

both taken out

GBP might be posting 1.47!!!

Now let's see if could remain above overnight high and eventually go to test the us targets at 14652

TAGGED at the pip

We are now inside the fire cracker zone up to 14850 but we have a lot of single pips below and a very bad structure below. The GB gap is by now fully confirmed.

scaled out

I don't need to know about invisible S/R cause they are invisible. But price it is visible


Regards,
Alex

Nice buy sir. But I don't understand your chart. What's indicator do you use? You make it by yourself?

Thanks. It's not an indicator in the strict term. It's a data organizer. It's market profile.


About the code I made the final mods for mt4 but it's a long multihands work started by others.

Btw the one you're seeing in my chart is the last recent betatesting version not posted yet.

I'm out for some hours.

Slow at the moment - as expected

Hopefully this bearish/mixed momentum will lead us into the NY session - then going long

It depends where we are at going into NY

If it rallies NY it may sell off further - then will buy on first dip

If it dips further- great will be in long shortly after NY opens

Lets see

Thanks for the link. I am reading it.

Yes its hard tio say it might continue a little northwards. But with such a huge gap and now is around 300 pips from friday close...
I dun think its wise to long.

One word of advise for those who is thinking of longing GU now or holding long.... its SUICIDAL. 😆

If RSI remain up will consider taking bullish from daily to weekly....
Mind that gap!

I have found this comment on some fx news that talks about the GBP rally today:

"I wrote a note last week, saying watch out for the headlines when GBP rallies, that it is due to Brexit or not. When it declines that is that also Brexit or not? No.

The trouble with reporters is that they are not analysts, if they were, the rally wouldn't be labelled as a by-product what is taking place at the moment.

The pound has not rallied due to some possible swing in remaining in the EU. If that were the case, financial markets would be a collection of random price swings, (which they are not) but are infact to most people."


Very logic i think!. I am just wondering once the wave of news of brexit is done on 23rd .Are they going to go back and talk about Fed again? and so on...In my opinion , I think we should read the prices on chart and analyse the real value of the currency at the moment.News comes and goes and very soon brexit deal will be closed and prices will move in a different direction of most of the traders want. How about your ideas guys?

hahahaha

Sickness pattern for bloody Monday!

it's not good for my eyes

weekly level eaten by a day




my suggestion is stay away from market

forget brexit bremain etc ... cable is going to close the 1st half of 2016 candle