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Cable Update (GBPUSD)

  • #433,041
  • Jun 21, 2016 11:31am Jun 21, 2016 11:31am
Uma ucabanga ukuthi kusebenza kuwe thats inkinga yakho akukhona okwami
  • #433,042
  • Jun 21, 2016 11:40am Jun 21, 2016 11:40am
Quoting JimmyC
Uma ucabanga ukuthi kusebenza kuwe thats inkinga yakho akukhona okwami
I'm not thinking. I'm sure. Because I'm the only person attacked and annoyed by many posts today. By you and others that directly alluded at me as dishonest person. So do not try to be too smart with me. And at least have the bravery to accept what everyone here could see and read.
Ubi maior minor cessat
  • #433,043
  • Jun 21, 2016 11:43am Jun 21, 2016 11:43am
Quoting gnomoneey
I'm new to this thread Can someone give me some advise of what to expect before and afte U.K. Referendum? Many many thanks G
I think and know that I will right as always.
So I say big drop in gu this coming week and so on.
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Wooooohooooo or Boooooohooooo
  • #433,044
  • Jun 21, 2016 11:46am Jun 21, 2016 11:46am
Quoting JimmyC
Over the years at the Factory if you read some of the spats between the trading handles a trend has formed. In the beginning, a somewhat well written or graphically interesting personality will emerge. They will post and banter in a friendly way and then carefully build up credibility and a following. Then, all of a sudden they come out with a subscription service, manager accounts or something of the like. Because trading is not something everyone can do.... People part with money. They "trust" a handle on an internet billboard. Instead of doing...

No doubt ,

**********Every New Trader needs to read JimmyC's post - It is excellent advice ******************
Remember, WHY you are doing this...
  • #433,045
  • Jun 21, 2016 11:56am Jun 21, 2016 11:56am
Quoting SitNsy2BClv
{quote} No doubt , **********Every New Trader needs to read JimmyC's post - It is excellent advice ******************
I second that

I still have difficulties to understand why people fell into forex paid signals and services. This is not Rocket science. Its very easy to understand that if somebody is making money on a regular basis he or she does not need my 200$, your 500$ or our 1000$ for his trading method. Because they are extremely busy on making money on a regular basis. So my 200$ or your 500$ is nothing for them( i am talking about real time professional traders)
Basically they dont need our money.
therefore if somebody is asking you for a fee to provide you with a signal service or the next great alexander the great EA dont buy into it. This is like 2+2 no need to use triple integral minus infiniti to plus infiniti. Wake up people.
  • #433,046
  • Jun 21, 2016 12:06pm Jun 21, 2016 12:06pm
Quoting Lock
{quote} I'm not thinking. I'm sure. Because I'm the only person attacked and annoyed by many posts today. By you and others that directly alluded at me as dishonest person. So do not try to be too smart with me. And at least have the bravery to accept what everyone here could see and read.
Hi Lock....i like your attempt to explain market behaviour YOUR own way in terms of supply and demand balance/imbalance levels..one unique aspect is that you are not purely technical but are trying to factor in sentiment(weak hands,real money etc) as a real time filter..we each have our own ways of assessing the market...as for me i like to marry what you see with what am seeing when genuflecting on the gpbusd market..for me it is also a chance to have the flexibility of mind to entertain new ideas/new concepts/new methods as part of a dynamic arsenal..trading is a humbling proffession and if you aren't it quickly makes you so..so keep on faithfully with your tidbits..thank you
Carpe Diem
  • #433,047
  • Jun 21, 2016 12:17pm Jun 21, 2016 12:17pm
Quoting nkimandi
{quote} Hi Lock....i like your attempt to explain market behaviour YOUR own way in terms of supply and demand balance/imbalance levels..one unique aspect is that you are not purely technical but are trying to factor in sentiment(weak hands,real money etc) as a real time filter..we each have our own ways of assessing the market...as for me i like to marry what you see with what am seeing when genuflecting on the gpbusd market..for me it is also a chance to have the flexibility of mind to entertain new ideas/new concepts/new methods as part of a dynamic...

Well, what can I say? I really appreciate your kind words. After a day like this, they are really welcome. Thank you again.
Ubi maior minor cessat
  • #433,048
  • Jun 21, 2016 12:22pm Jun 21, 2016 12:22pm
an upgrade for the recap...

a little recap

below

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

far below

  1. 145800 yes. GB TAG of a previous GB ref and pit session tag of the same level
  2. 14492-14495 old multi pass pit GAP (very very interesting for upcoming pit sessions)
  3. 14310-14559 last huge GB gap up (with special attention to the multi pass at 14310-14393)

Note that 146405 Tokyo Poor Low is now tagged by pit low and is even weaker then before
Note 2: we are close to the curren main POC at 14661. And it generally works as a pole of attraction. So it is very hard to come away from it without big volumes. Then, considering the time, it could be normal to remain around here somewhere.

Ubi maior minor cessat
  • #433,049
  • Jun 21, 2016 12:28pm Jun 21, 2016 12:28pm
Also, if we come down from here we are going to develop below pit value that could not be moved any further down at this hour of the day. we have only 3 M30 period to close. So we risk to go short in the hole...
Ubi maior minor cessat
  • #433,050
  • Jun 21, 2016 12:35pm Jun 21, 2016 12:35pm
yea
Quoting gnomoneey
{quote} I think and know that I will right as always. So I say big drop in gu this coming week and so on. {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #433,051
  • Jun 21, 2016 12:44pm Jun 21, 2016 12:44pm
I've read somewhere ,liquidity is low gbp right now
what with the ugly situ and high margins i can see it ,
You might not know I'm up for Brexit
biggest mistake by leave team is not to hit back more against the 'dangers for leaving argument 'with those for staying ,
as I said before without polls most people I know are vote leave ,but I'm in south east so maybe not so surprising ,
technically range holds ,
bears building a steep mountain to change as we speak
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #433,052
  • Jun 21, 2016 12:55pm Jun 21, 2016 12:55pm
So, Bones, JimmyC or anyone else that seems to be a part of this kerfuffle today with Member Lock (or anyone really). Would you please pass along this msg. 4 me? Evidently Lock has ignored me and I can not send the following privately.

Member Lock,

Curious as to why I was ignored by you. Will you tell me? I really am curious. I did not realize that such a thing was possible until I checked my acct. and saw that you had done it. Today I saw a post of yours that stated that you would prefer to be contacted privately for (I'm guessing) non-market related ({business?}* or insert whatever word works best for you.) I am comfortable with either a public or private response; your choice.

I await your response.

Sincerely,

SitNsy2BClv

P.S I attempted to do this privately but evidently since you ignored me I am unable to send it.
Remember, WHY you are doing this...
  • #433,053
  • Jun 21, 2016 1:00pm Jun 21, 2016 1:00pm
an upgrade for the recap...

a little recap

below

 

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

far below

  1. 145800 yes. GB TAG of a previous GB ref and pit session tag of the same level
  2. 14492-14495 old multi pass pit GAP (very very interesting for upcoming pit sessions)
  3. 14310-14559 last huge GB gap up (with special attention to the multi pass at 14310-14393)

All the near targets taken out at the end of the pit session. It looks like it simply corrected the overnight inventory long. Or at least it look like that for me. And if we close here those who are shorting now are in the hole, because rthey are trading below value.

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I'm off. Have a nice evenings everyone

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Ubi maior minor cessat
  • #433,054
  • Jun 21, 2016 1:22pm Jun 21, 2016 1:22pm
Are you sure this is GBPUSD? Looks like EURUSD .
Do your homework, follow the footprints of smart money
  • #433,055
  • Jun 21, 2016 2:34pm Jun 21, 2016 2:34pm
40 pips up in seconds and then down next minute at this time when volatility is usually low. Spread ranging from 1-30 pips. So one can expect over 100 pips spread tomorrow? Not touching this pair with a thousand feet pole.
  • #433,056
  • Jun 21, 2016 3:22pm Jun 21, 2016 3:22pm
Quoting Nabz
40 pips up in seconds and then down next minute at this time when volatility is usually low. Spread ranging from 1-30 pips. So one can expect over 100 pips spread tomorrow? Not touching this pair with a thousand feet pole.
Indeed, most of brokers will not give GBP as a gift to trade the next couple of days.However,spread indicator always help. I am out too.I will watch the storm and think 1000 times before taking a trade.
The difference between gambling and speculating is risk management
  • #433,057
  • Jun 21, 2016 4:02pm Jun 21, 2016 4:02pm
Quoting Lock
{quote} Hi mzvega, a floor trader stepping by the floor. Have you aver think at that very common event? What sort of practice and memory do you think he could carry forward in his or her future trading experience in front of a monitor? Jim Dalton "has been member of the Chicago Board of Trade as well as a member of the Chicago Board Options Exchange, and Senior Executive Vice President of the CBOE during its formative years" Fine. Have you aver think to the fact that he left the floor decades ago and he still was working (for many aspects) as he...
You're speaking in and referring to "Legacy" when using the term "pit session"


Quoting Lock
Have you aver think to the fact that he left the floor decades ago and he still was working (for many aspects) as he was still there?
His market never changed , it still had a daily open and an actual "pit session" to refer to. What would he need to do different? Nothing. He is not an ex floor trader, who decided to trade forex market rather than trade futures electronically...


The fact is the futures pits have been transacting less than 1% of CME volume for several years now

So lets put this into perspective, since were talking traders in Currency futures. We are talking about an effect of a group of traders that make up even less than 1% of CME volume. (not forex volume)

Quoting Lock
Sure the pit session doesn't exist in forex as a formal timeline, but professional forex trader, especially those who trade intraday are ex floor traders coming from the floor. Aren't they? And this is the only reason the pit references still works as a clock even in the forex
I don't know, did you take an actual survey? And how many of those ex-floor traders decided keep their CME membership and trade quietly on computer in an upstairs office, and remain members?

Or did they all decide to give up their CME memberships and the world of Futures to become Professional Retail Forex traders?

I think not......Not every member on the floor was/is a speculator. Most members have a "need to do business", for those members, to buy & sell at retail rates would not make economic sense, when being a member you can lease your membership, and reduce the fee's even more.

There is a reason the pits closed, Lack of trading volume. Why would any trader in a 24h market limit their trading to pit hours (that no longer exist)? Sometimes the most advantageous place to buy or sell is not during a pit session.

So are you're saying that ex floor traders only trade pit session hours in the forex market? And that they will pass up an advantageous trade entry of buying or selling at a better price 1, 2, 3 hours before or after this so called pit session?

I think, that ex floor traders used to trade pit sessions because that was the only available hours of operation in which they were allowed to operate (legacy). And if given an opportunity to take advantage of profiting outside those hours, they would take it. That would explain lack of trading volume/participation that caused the pits to close in the first place.

Youre speaking in and referring to "Legacy" when using the term pit session, something that no longer exist. You're trying to make "legacy concepts" a common practice

CME MP Handbook page 4
"As you go through Parts I and II, however, keep in mind that you're going to expand what happens in a single session to 24-hour markets. This means that certain ideas-the initial balance (pit session) , for example- are going to become less important."

Quoting Lock
Overnight price action is very often retraced by "Pit" hours. So why cannot I use this simple fact for my orientation and my trading decisions?
And so does just about every other reference as well (open, high, low, close, etc.)
No one said that you couldn't.

" Overnight" from whose perspective? I just wanted to point out that "overnight" trading in a 24h FX market is relative to the time zone the individual is trading in. Unless you specify what pit session and exchange you are referring.

You are referring to an "old legacy" concept of a "pit session", which no longer exists in the futures market, and never did exist in fx.........Got it!

Good Luck & Happy Trading
Markets are not efficient, rather they are effective - Jones
  • #433,058
  • Jun 21, 2016 4:20pm Jun 21, 2016 4:20pm
#GBPUSD The power of the 45D, algos and trader and defending the 45D to keep pound showing positive...... lets see how long this will last...... once PA is below 45D signs of weakness will show up....... Geometry traders now the importance of 45D and they are watching closely........

I heard once "Buy the rumor Sell the news" looks like it is slowly playing out....
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"W. D. Gann said that time is the most important factor among all things."
  • #433,059
  • Jun 21, 2016 4:30pm Jun 21, 2016 4:30pm
Quoting gnomoneey
I'm new to this thread Can someone give me some advise of what to expect before and afte U.K. Referendum? Many many thanks G
If they do give advice, I wouldn't listen to it. No one knows what's going to happen.
  • #433,060
  • Jun 21, 2016 4:34pm Jun 21, 2016 4:34pm
I m just thankful that GU came back up and I got out of position that was almost 500pips in the red for a 10pips gain. I m staying out until the Brexit vote. I hope this post will be allowed, my first post did not. I m a newbie and trying to make my first post here 😂😂😂
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