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Cable Update (GBPUSD)

  • #432,821
  • Jun 20, 2016 7:35am Jun 20, 2016 7:35am
pre US recap:


above

  1. targets at 14652 taken out
  2. 14650 is pretty weak for 2 pips

below

  1. huge gap from yesterday
  2. 146337 is pre US open so right now is weak
  3. 14600 coming from GB is round weak

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  • #432,822
  • Jun 20, 2016 7:39am Jun 20, 2016 7:39am
wondering if we gonna hit 150 .. still long from 141 700.
thinking more like 150 might be the stop loss moment if we get out of dodge ( i mean europe ).
  • #432,823
  • Jun 20, 2016 7:42am Jun 20, 2016 7:42am
Quoting Lock
pre US recap: above targets at 14652 taken out 14650 is pretty weak for 2 pips below huge gap from yesterday 146337 is pre US open so right now is weak 14600 coming from GB is round weak
taken out

for below as said 14492-14496 remains a place of big interest for the upcoming pit sessions. It should be solved before or after by a pit session.

for above as said the zone 14655-14857 is virtually a fire cracker effect space.
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  • #432,824
  • Jun 20, 2016 8:03am Jun 20, 2016 8:03am
Quoting Lock
pre US recap: above targets at 14652 taken out 14650 is pretty weak for 2 pips below huge gap from yesterday 146337 is pre US open so right now is weak 14600 coming from GB is round weak
taken out

Now let's see if upcoming pit session is able to test above overnight

146615 preUS high is a poor high
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  • #432,825
  • Jun 20, 2016 8:04am Jun 20, 2016 8:04am
Quoting Fader123
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
Easy pips

If it rallies ( which it did) NY it may sell off further (which it did on open) - then will buy on first dip (which I have done)

Who said trading was hard
  • #432,826
  • Edited 8:27am Jun 20, 2016 8:14am | Edited 8:27am
146415 is preUS hb so is weak. and as said 146615 preUS high is a poor high:
market currently is controlled by weak hands

3 min to go and pit session is going to open with a huge gap up, something like 250 pips or more.
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  • #432,827
  • Edited 8:51am Jun 20, 2016 8:36am | Edited 8:51am
Quoting Lock
146415 is preUS hb so is weak. and as said 146615 preUS high is a poor high: market currently is controlled by weak hands 3 min to go and pit session is going to open with a huge gap up, something like 250 pips or more.
taken out by pit session

14625 now is weak

all weak levels plus major us pit (possible) targets below. If the pit gap is preserved and confirmed we can go with it(up). Otherwise we can retrace some and at least we have a possible target(down):

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  • #432,828
  • Jun 20, 2016 8:50am Jun 20, 2016 8:50am
Don't think that there are any polls out today

Yellen speaks tomorrow

Think the analysts will- think she will prepare a dovish speech

So Cable could be more positive tomorrow

However, would not be surprised if she sounds a little more hawkish

Dollar getting hammered, Brexit concerns slightly lowered

Will have to check and see

Good luck!
  • #432,829
  • Edited 9:25am Jun 20, 2016 9:05am | Edited 9:25am
14662 is now weaker . Pit high is back to back with pre US poor high.
and below we have the weak low at 146255
still market controlled by weak hands
range is very narrow: it should unfold.
by now pit session is not filling anything of the below huge gap. And the overnight inventory is 100% long. So..
"Sometime what market doesn't do is more important of what it actually does."

Attached Image (click to enlarge)
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  • #432,830
  • Jun 20, 2016 9:19am Jun 20, 2016 9:19am
In Brexit what percentage of vote is needed for a side to win ?
I mean if remain 49% - leave 51%, is that enough to leave EU ?
  • #432,831
  • Jun 20, 2016 9:42am Jun 20, 2016 9:42am
fast recap

below

  1. 14648 is pit open plus round number (edit) half back and then weak
  2. 146255 is BtB preUS low and is weak (but supported by gap up)

above

  1. 14662 is very weak


The pit gap is by now confirmed by more then one hour of activity above without any sort of retracement.
The overnight inventory long (100%) is not corrected at all. It looks like market doesn't care about it.

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  • #432,832
  • Jun 20, 2016 9:43am Jun 20, 2016 9:43am
Quoting Fader123
Don't think that there are any polls out today Yellen speaks tomorrow Think the analysts will- think she will prepare a dovish speech So Cable could be more positive tomorrow However, would not be surprised if she sounds a little more hawkish Dollar getting hammered, Brexit concerns slightly lowered Will have to check and see Good luck!

I suppose there will be some "reason" to make a move down b-4 massive up-jump on NO BREXIT. That one is as good as any. Guessing bottom not below low 1.43's. 1.425ish too obvious, 1.443 maybe; potentially not below 1.45. GBP tho. so, who knows? It would be truly amusing if it did not really go down very much at all.

I'll take a bit here and there over the next couple days.

Made a chunk.

19.4% on acct. /close Fri. to now/

Posted a bunch of stuff late Fri. Spot on.

Did my best to tell ppl. --- See previous posts


I'd be interested in additional opinions what could cause a move down b-4 the up. I think it may be like 06/07 a few min after midnight EST; when it went massively up and then down for no evident reason.
Remember, WHY you are doing this...
  • #432,833
  • Jun 20, 2016 9:46am Jun 20, 2016 9:46am
Quoting Lock
14662 is now weaker . Pit high is back to back with pre US poor high. and below we have the weak low at 146255 still market controlled by weak hands range is very narrow: it should unfold. by now pit session is not filling anything of the below huge gap. And the overnight inventory is 100% long. So.. "Sometime what market doesn't do is more important of what it actually does." {image}
taken out!
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  • #432,834
  • Jun 20, 2016 9:48am Jun 20, 2016 9:48am
Quoting Lock
fast recap below 14648 is pit open plus round number (edit) half back and then weak 146255 is BtB preUS low and is weak (but supported by gap up) above 14662 is very weak The pit gap is by now confirmed by more then one hour of activity above without any sort of retracement. The overnight inventory long (100%) is not corrected at all. It looks like market doesn't care about it.
now let's see if with the weakness below it is able to remain above overnight and confirm this level. We are now in the fire cracker zone up.

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  • #432,835
  • Jun 20, 2016 9:51am Jun 20, 2016 9:51am
Quoting Lock
14662 is now weaker . Pit high is back to back with pre US poor high. and below we have the weak low at 146255 still market controlled by weak hands range is very narrow: it should unfold. by now pit session is not filling anything of the below huge gap. And the overnight inventory is 100% long. So.. "Sometime what market doesn't do is more important of what it actually does." {image}
Could you post a legend with your chart so we can just work out what you're drawing please mate.?
  • #432,836
  • Edited 10:10am Jun 20, 2016 10:00am | Edited 10:10am
Quoting JimmyC
{quote} Could you post a legend with your chart so we can just work out what you're drawing please mate.?
I'll do asap. It's not so easy. In the mean while: from 14754 starts the old pit minus development (inside the fire cracker zone 14655-14857)

it's ok now JimmyC?

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  • #432,837
  • Jun 20, 2016 10:10am Jun 20, 2016 10:10am
Quoting Lock
{quote} I'll do asap. It's not so easy. In the mean while: from 14754 starts the old pit minus development (inside the fire cracker zone 14655-14857) {image}
really do enjoy reading your market slang..makes me feel am in the pits...quick question with regard to 'firecracker zone' and its definition currently..is it when astute sellers step in to shake late buyers or is it when astute buyers step in for more buying and buy stops are triggered?.. thanks
Carpe Diem
  • #432,838
  • Jun 20, 2016 10:15am Jun 20, 2016 10:15am
Quoting Lock
{quote} I'll do asap. It's not so easy. In the mean while: from 14754 starts the old pit minus development (inside the fire cracker zone 14655-14857) it's ok now JimmyC? {image}
Sure
  • #432,839
  • Jun 20, 2016 10:16am Jun 20, 2016 10:16am
Quoting nkimandi
{quote} really do enjoy reading your market slang..makes me feel am in the pits...quick question with regard to 'firecracker zone' and its definition currently..is it when astute sellers step in to shake late buyers or is it when astute buyers step in for more buying and buy stops are triggered?.. thanks

Technically it is a zone where are concentraded numerous back to back levels of stops. So when one of them is triggered generally it put fire on the second one and so on. From this derives the name "fire cracker effect". In these zones some times you can see a fast move given by this sort of explosive concentration. And sometimes you could see price retrace just after that effect.
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  • #432,840
  • Edited 10:30am Jun 20, 2016 10:23am | Edited 10:30am
So it bounces 2 pips above overnight high. I don't like it. But still in my long. Obviously anyone is watching at the week trend line... but let's see.

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