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Cable Update (GBPUSD)

  • #432,941
  • Jun 21, 2016 6:47am Jun 21, 2016 6:47am
Quoting albchr
{quote} Cluttered charts and (possible directions) are all very well. You be sure to let us know when you actually Commit to a trade. Showing it on a clean chart would be nice too.
I'm not here to provide entry signals. My goal is to share my opinions with traders like you about markets and to understand other's opinions. I can also post my trades right after close in order to let comprehend my entry/esc strategies. For now I shared with you exact numbers and clear opinions about my philosophy of trading. And that's all.
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  • #432,942
  • Jun 21, 2016 6:55am Jun 21, 2016 6:55am
Quoting Lock
{quote} This morning in my first post I wrote down most of the targets (possible directions) for the upcoming gb session and more. I admit my charts are complex if you do not know market profile, but you could read the posts and verify step by step. Maybe using your new pretty glasses.

Thanks Lock
  • #432,943
  • Jun 21, 2016 6:56am Jun 21, 2016 6:56am
Quoting Lock
{quote} I'm not here to provide entry signals. My goal is to share my opinions with traders like you about markets and to understand other's opinions. I can also post my trades right after close in order to let comprehend my entry/esc strategies. For now I shared with you exact numbers and clear opinions about my philosophy of trading. And that's all.
Hey Lock - great posts - really enjoying them, good work on your behalf..
  • #432,944
  • Jun 21, 2016 6:58am Jun 21, 2016 6:58am
Quoting rythmrig
{quote} Thanks Lock
You're welcome
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  • #432,945
  • Jun 21, 2016 6:59am Jun 21, 2016 6:59am
1 min to go and pre US session is going to gap higher
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  • #432,946
  • Jun 21, 2016 7:01am Jun 21, 2016 7:01am
Lock I find your posts are very insightful and your volume based trading a valuable ingredient in traders' decision making.
Although several of your terms are relatively not common in this thread, exerting some effort to comprehend is worthwhile.
Thank you for sharing the market profile handbook.
Your posts are valuable to follow.
  • #432,947
  • Jun 21, 2016 7:03am Jun 21, 2016 7:03am
Quoting aymansalah
Lock I find your posts are very insightful and your volume based trading a valuable ingredient in traders' decision making. Although several of your terms are relatively not common in this thread, exerting some effort to comprehend is worthwhile. Thank you for sharing the market profile handbook. Your posts are valuable to follow.
Thank you very much indeed for your words. I appreciate them.
Ubi maior minor cessat
  • #432,948
  • Jun 21, 2016 7:05am Jun 21, 2016 7:05am
Quoting Lock
{quote} I'm not here to provide entry signals. My goal is to share my opinions with traders like you about markets and to understand other's opinions. I can also post my trades right after close in order to let comprehend my entry/esc strategies. For now I shared with you exact numbers and clear opinions about my philosophy of trading. And that's all.
That's good. The last thing this forum needs is another guru providing signals.
Ghost Rider - WWTBMD?
  • #432,949
  • Edited 7:21am Jun 21, 2016 7:10am | Edited 7:21am
Now a little recap.

pre US gap higher(14718-14729), if this little gap could resist we can go with it(up). We can also wait for the upcoming pit session in order to see if it confirms or increments it. Targets above remain quite the same of this morning because people trading during pit are not necessary the same trading during GB or Asia.
above

 

  1. 2 old pit minus development 14754-14783 / 14787-14796
  2. 148155 (2016 GB high)


far above

  1. old GB high 148415 (2015.12.30) back to back with old GB poor high 14844 (2015.12.31)
  2. old multi pass pit gap 148485-148535 (very interesting for pit sessions)


if the gap is retraced and confirmed below, then we could start to watch at all the targets to the down that are quite the same of this morning before GB open

 

  1. below
  2. 147055 GB poor low/open TAG
  3. 146955 yes pit unch tagged by 2 Tokyo M30 periods
  4. 146720 yes GB high
  5. 146500 Tokyo cluster (many M30 bars at same round level)
  6. 146405 Tokyo Poor Low (2 M30 bars same low at the bottom of the session)
  7. 146355 Sydney BtB(2 pips above) yesterday GB unchange(close)

  8. far below
  9. 145800 yes. GB TAG of a previous GB ref and pit session tag of the same level
  10. 14492-14495 old multi pass pit GAP (very very interesting for upcoming pit sessions)
  11. 14310-14559 last huge GB gap up (with special attention to the multi pass at 14310-14393)

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  • #432,950
  • Jun 21, 2016 7:20am Jun 21, 2016 7:20am
EXIT polls on rise.
http://www.mirror.co.uk/news/uk-news...l-2016-7699714
  • #432,951
  • Jun 21, 2016 7:23am Jun 21, 2016 7:23am
If you decide to buy above the current preUS session gap, your structural place to put a stop is right below the top of the gap(some pips)
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  • #432,952
  • Jun 21, 2016 7:35am Jun 21, 2016 7:35am
Quoting albchr
{quote} I'm good brother.
90% of traders use TA, indicators and prediction
  • #432,953
  • Jun 21, 2016 7:35am Jun 21, 2016 7:35am

  1. 147055 GB poor low/open TAG
  2. 146955 yes pit unch tagged by 2 Tokyo M30 periods

both taken out by the retracement of the preUS gap up

Now let's see if it will confirm above or below yesterday pit session high.(base of the retraced gap)

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  • #432,954
  • Jun 21, 2016 7:44am Jun 21, 2016 7:44am
Too much, to fast. By now this is a liquidation of the overnight inventory that was NET long. Smart money do not butcher a market like this. But this does not mean it cannot continue down. A liquidation can be huge. It's only mean that is not driven by strong hands. And so watch out for possible retracements.
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  • #432,955
  • Jun 21, 2016 7:49am Jun 21, 2016 7:49am
Quoting gbudy
EXIT polls on rise. http://www.mirror.co.uk/news/uk-news...l-2016-7699714
leave is rising wow....
There's no harm in being smtm wrong especially if one is promptly found out
  • #432,956
  • Jun 21, 2016 7:53am Jun 21, 2016 7:53am
Quoting Lock
Too much, to fast. By now this is a liquidation of the overnight inventory that was NET long. Smart money do not butcher a market like this. But this does not mean it cannot continue down. A liquidation can be huge. It's only mean that is not driven by strong hands. And so watch out for possible retracements.
Lock, you can but you shouldn't, go around and tell people that this down move was due to liquidation etc. Please every time you give an opinion say "I think this is due to..", other traders will easily fall within your words, so pay attention. Yes you should pay attention if you have a bit of common sense.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD t1 (06-21-2016 1445).png Size: 19 KB


Regards,
Alex
  • #432,957
  • Jun 21, 2016 7:56am Jun 21, 2016 7:56am
Quoting albchr
{quote} That's good. The last thing this forum needs is another guru providing signals.
Thanks albchr for your understanding.
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  • #432,958
  • Jun 21, 2016 8:03am Jun 21, 2016 8:03am
Quoting Lock
Too much, to fast. By now this is a liquidation of the overnight inventory that was NET long. Smart money do not butcher a market like this. But this does not mean it cannot continue down. A liquidation can be huge. It's only mean that is not driven by strong hands. And so watch out for possible retracements.
as you see

 

  1. now 14745 preUS high is a poor high plus it is weak because it is tagging GB half back
  2. 14700 is weak as a round number tagged for 1 pip.

so right now market is controlled by weak hands. Because the references they are using are weak.

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  • #432,959
  • Jun 21, 2016 8:20am Jun 21, 2016 8:20am
Quoting Lock
{quote} as you see now 14745 preUS high is a poor high plus it is weak because it is tagging GB half back 14700 is weak as a round number tagged for 1 pip. so right now market is controlled by weak hands. Because the references they are using are weak.
taken out.

Now let's see if pit session will open right here (inside yesterday range) or above 14718 with a gap. 10 min to open.
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  • #432,960
  • Jun 21, 2016 8:32am Jun 21, 2016 8:32am
So. Pit session opens inside yesterday range. That means initial acceptation of previous range. Let's see if it's going to test yes high 14718 and more or if it continues with the liquidation down.

Current situation:

Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 55 KB
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