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Cable Update (GBPUSD)

  • #433,721
  • Jun 28, 2016 9:36am Jun 28, 2016 9:36am
This used to be a great thread!
  • #433,722
  • Jun 28, 2016 9:52am Jun 28, 2016 9:52am
Quoting micho
{quote} jerk
Not being a jerk. That dude was the jerk, trust me. My post was simply a public service announcement.
check out my blog: forexmademillionaire dot com
  • #433,723
  • Jun 28, 2016 10:43am Jun 28, 2016 10:43am
Quoting Geppy
{quote} Not being a jerk. That dude was the jerk, trust me. My post was simply a public service announcement.
funny reading some comment here, I have taken the positive in this forum and left the negative. which had improved my trading.
To all positive mind in here keep doing what make you different
  • #433,724
  • Jun 28, 2016 9:18pm Jun 28, 2016 9:18pm
Well... GU is still hungry for lower levels but no clear vision to where it is going so i shall keep watching. for me it is DIRECTIONLESS more probability would be down. OKAY SO KITCHEN SINK BUY ON EAUD??? Meanwhile 23 Consecutive wins and 177 remaining to complete project! lets see how far it goes. Happy Pippin!
Attached Image (click to enlarge)
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Trading Eternal...... Shiny & Chrome!!!!
  • #433,725
  • Jun 28, 2016 10:38pm Jun 28, 2016 10:38pm
Quoting iamawaited
Well... GU is still hungry for lower levels but no clear vision to where it is going so i shall keep watching. for me it is DIRECTIONLESS more probability would be down. OKAY SO KITCHEN SINK BUY ON EAUD??? Meanwhile 23 Consecutive wins and 177 remaining to complete project! lets see how far it goes. Happy Pippin! {image}
Attached Image (click to enlarge)
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This is your chart with a couple of notations of interest....hope you dont mind
I may not be right...BUT, I am never wrong
  • #433,726
  • Jun 28, 2016 11:08pm Jun 28, 2016 11:08pm
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In Pound we have the short balance, but also we have the visual level above 1.35. More probably we will see one more provocation to up move and just after it we will see a new down move.
  • #433,727
  • Jun 28, 2016 11:47pm Jun 28, 2016 11:47pm
My chart suggests a case for bullish
little bit of sense, little bit of luck
Ktr Return This Month: na
  • #433,728
  • Jun 29, 2016 12:04am Jun 29, 2016 12:04am
A visual recap for today.

Note that we are currently in a full balance environment.

Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 167 KB
Ubi maior minor cessat
  • #433,729
  • Jun 29, 2016 12:18am Jun 29, 2016 12:18am
Quoting Lock
A visual recap for today. Note that we are currently in a full balance environment. {image}
Hi Lock,
"full balance environment" what do you mean by that ?...... that we have been range bound for the last few hours, lower lowers, lower highs, a squeeze if we look at the Bollinger Bands .... ripe for a breakout ??

thanks
  • #433,730
  • Jun 29, 2016 12:25am Jun 29, 2016 12:25am
Nothing like a bit of interest rate news to push Cable higher

http://www.forexfactory.com/news.php?do=news&id=597014
  • #433,731
  • Edited 12:45am Jun 29, 2016 12:34am | Edited 12:45am
Quoting Lock
A visual recap for today. Note that we are currently in a full balance environment. {image}

When the situation is like this one I consider the following simple "rules":

  1. Price goes up and fails, coming back inside balance: then a natural target is the opposite side of the balance. Put your Stop somewhere above balance.
  2. Price goes up, breacking and accelerating above, then go with the break and put your stop somewhere inside balence, then monitor for continuation.
  3. Price remains inside balance and continue to stay there
  4. Price goes down.. the opposite of up

So the important thing here is to understand that price is actually in balance. Value and range are the most important aspects to consider in order to have a correct evaluation of where price is acting. Furthermore you have the possibility to put your stop in a lower risk position: this is given to you by a correct evaluation of where the main limits of the balance currently are.

Ubi maior minor cessat
  • #433,732
  • Jun 29, 2016 1:19am Jun 29, 2016 1:19am
For continuation above I would like to see, as soon as possible, price above the early morning high at 13413.
I don't like those many single ticks below 13373. So I would like to accelerate higher
Ubi maior minor cessat
  • #433,733
  • Jun 29, 2016 1:24am Jun 29, 2016 1:24am
Quoting Lock
For continuation above I would like to see, as soon as possible, price above the early morning high at 13413. I don't like those many single ticks below 13373. So I would like to accelerate higher

If price is not able to stay above and confirm 13413, watch out! It is not a good sign for continuation up. For confirmation you should see price remaining above it with current m30 period plus a new m30(the next one) period above the same level (13413)
Ubi maior minor cessat
  • #433,734
  • Jun 29, 2016 1:39am Jun 29, 2016 1:39am
Quoting Lock
{quote} If price is not able to stay above and confirm 13413, watch out! It is not a good sign for continuation up. For confirmation you should see price remaining above it with current m30 period plus a new m30(the next one) period above the same level (13413)

Now in order to evaluate a possible breakout failure above, you have to see current m30 period(D) coming inside the initial balance limit at 13371 and confirm below with the next m30 period. If not, breakout above could be still in place. If instead price comes back in to the range top at 13371 and confirms below, you could place a short putting your stop somewhere above the range high. Let's see.
Ubi maior minor cessat
  • #433,735
  • Jun 29, 2016 1:54am Jun 29, 2016 1:54am
Quoting Lock
{quote} Now in order to evaluate a possible breakout failure above, you have to see current m30 period(D) coming inside the initial balance limit at 13371 and confirm below with the next m30 period. If not, breakout above could be still in place. If instead price comes back in to the range top at 13371 and confirms below, you could place a short putting your stop somewhere above the range high. Let's see.

So by now, period m30 "D" is not able to stay below the first balance high at 13371. But it is not able to stay aboce C too.
Now, for a possible breakout above 13385 (yesterday range high) you want to see a poor high at 13413. This could mean a non completed auction above and a possible continuation higher.
Ubi maior minor cessat
  • #433,736
  • Jun 29, 2016 1:54am Jun 29, 2016 1:54am
Quoting Lock
{quote} Now in order to evaluate a possible breakout failure above, you have to see current m30 period(D) coming inside the initial balance limit at 13371 and confirm below with the next m30 period. If not, breakout above could be still in place. If instead price comes back in to the range top at 13371 and confirms below, you could place a short putting your stop somewhere above the range high. Let's see.
I am keeping a watch on both the M15 and the M30 time periods. Now what is more important for me is to see the Cable break the 1.3400 levels today
FXOpen - International True ECN Broker
  • #433,737
  • Jun 29, 2016 2:13am Jun 29, 2016 2:13am
Anyone planing to sell this at 1.35?
  • #433,738
  • Edited 2:48am Jun 29, 2016 2:19am | Edited 2:48am
Quoting Lock
{quote} So by now, period m30 "D" is not able to stay below the first balance high at 13371. But it is not able to stay above C too. Now, for a possible breakout above 13385 (yesterday range high) you want to see a poor high at 13413. This could mean a non completed auction above and a possible continuation higher.
So what happened is that C tested above yes range high(13385) while D tested below overnight high at 13371. ANd currently period m30 E is inside D, so in balance in between those very meaningful levels.If you are buying from 13371 your stops below that level are still in place. If instead you are selling from 13385 your stops above that level are still in place. And if you are edging here waiting for a breakout from E period, your target ratio should be good: because if price will go down you have a possible target at the opposite side of the balance and if instead it goes up you could aim at the old GB gap down.

Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 132 KB
Ubi maior minor cessat
  • #433,739
  • Edited 2:50am Jun 29, 2016 2:27am | Edited 2:50am
Quoting fxtrader18
Anyone planing to sell this at 1.35?
Still short from 147 000 - like a slow train running
Looking for one more retest of the low, which should co-incide with a ranging period ahead of NFP next week and other stuff.
Just my 2 cents worth of nickel and diming.
Then hopefully back to normal with some movement.
  • #433,740
  • Jun 29, 2016 2:49am Jun 29, 2016 2:49am
Quoting Dr.Zain
{quote} 2nd time in a week!!!!
well at least one of them is usual, they have always brexited in the last 50 years from euro championships but the second one was a surprise
When life gives you lemons, make lemonade
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