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Cable Update (GBPUSD)

  • #433,941
  • Jul 4, 2016 5:05am Jul 4, 2016 5:05am
Quoting Lock
{quote} maybe one of the thing that helps me more is to simply look at market informations. For instance, where is price now compared to friday? Price is exactly 2 pips above fridey GB close. So, what this info means to me? It means that nothing is happening. When market is saying me that nothing is happening why have I to do something?

Having said that, for those who are playing around this tricky day, these are current refs below and above.

above

  1. 13300 round number today Tokyo 07.04 TAG cluster: weak price level
  2. 133067 today Tokyo 07.04 poor high
  3. 133394 USpit 07.01 Friday high back to back with pre US high: composite poor high/weak
  4. 13349 Friday Tokyo/overnight weak high as cluster at 13350 round.

below

  1. 132435 as you now

Ubi maior minor cessat
  • #433,942
  • Jul 4, 2016 5:10am Jul 4, 2016 5:10am
OK two attempts on 5 minute chart to break 3290....
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Don't Leave Money on the Table
  • #433,943
  • Jul 4, 2016 5:12am Jul 4, 2016 5:12am
133394 USpit 07.01 Friday high back to back with pre US high: composite poor high/weak

I was long that day Lock and sold just before that price and happy about it cause as you know it didn't go higher
Don't Leave Money on the Table
  • #433,944
  • Jul 4, 2016 5:24am Jul 4, 2016 5:24am
Quoting HaLBot
133394 USpit 07.01 Friday high back to back with pre US high: composite poor high/weak I was long that day Lock and sold just before that price and happy about it cause as you know it didn't go higher
it been long, nice to have you back and lock is on the right side I read is market profile book and it as help me in trading too
  • #433,945
  • Jul 4, 2016 5:28am Jul 4, 2016 5:28am
Quoting adetola99
{quote} it been long, nice to have you back and lock is on the right side I read is market profile book and it as help me in trading too
Hey Adetola

Yeah mate I was away over Brexit due to ridiculous margin requirements from my broker, not sure what other traders had to cope with but as an example the margin requirement for 1 standard lot was $5000au when normally it's $1763au...
Don't Leave Money on the Table
  • #433,946
  • Jul 4, 2016 5:30am Jul 4, 2016 5:30am
Quoting HaLBot
133394 USpit 07.01 Friday high back to back with pre US high: composite poor high/weak I was long that day Lock and sold just before that price and happy about it cause as you know it didn't go higher

well done and happy for your working short!
Knowing where weak references are give you a great advantage because you know what's going on in a market, who is controlling it and who are your current competitors. For instance right now, you know, because market gave you that information before, that the 133394 is a weak level and there are possibilities that before or after that level could be retraced by stronger hands, and you could be with them eventually. But weak references are only a part of the informations you receive from market. Your decision should be based upon different infos put together in a meaningful way.
Ubi maior minor cessat
  • #433,947
  • Jul 4, 2016 5:46am Jul 4, 2016 5:46am
Currently below we have a double TAG of friday GB close at 13281: that is very weak. Let's see if it want take out something above before to eventually coming back here.
Ubi maior minor cessat
  • #433,948
  • Jul 4, 2016 5:51am Jul 4, 2016 5:51am
Quoting Lock
Currently below we have a double TAG of friday GB close at 13281: that is very weak. Let's see if it want take out something above before to eventually coming back here.
taken out
Market's answer was: NO!
Ubi maior minor cessat
  • #433,949
  • Jul 4, 2016 5:56am Jul 4, 2016 5:56am
Quoting Lock
{quote} taken out Market's answer was: NO!

Now 132435 looks like on the gallows. But with a day like this: who knows?
Ubi maior minor cessat
  • #433,950
  • Jul 4, 2016 6:06am Jul 4, 2016 6:06am
Quoting Lock
{quote} Now 132435 looks like on the gallows. But with a day like this: who knows?

and here you are: finally taken out.
Ubi maior minor cessat
  • #433,951
  • Jul 4, 2016 6:06am Jul 4, 2016 6:06am
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  • #433,952
  • Jul 4, 2016 6:15am Jul 4, 2016 6:15am
Hey anyone here seen Guardians of The Galaxy???? Sci-Fi comedy it's a laugh and on TV here now....LOL

Inserted Video
Don't Leave Money on the Table
  • #433,953
  • Jul 4, 2016 6:17am Jul 4, 2016 6:17am
Quoting Lock
{quote} and here you are: finally taken out.

Now GB is trading below value (GB current value). We have two possibilities:

  1. going far below 132435 trying to open preUS with a gap down and in that case the weak references above could be skipped for some time.
  2. remaining somewhere around current price so "short in the hole" offering a good opportunity to us traders in order to retrace up to current weak refernce above: 13300 / 133067 / 133394 / 13349

Note that right now we tagged again GB hb (13269) that is now weak. Let's see.

Ubi maior minor cessat
  • #433,954
  • Jul 4, 2016 6:25am Jul 4, 2016 6:25am
Quoting HaLBot
Hey anyone here seen Guardians of The Galaxy???? Sci-Fi comedy it's a laugh and on TV here now....LOL https://www.youtube.com/watch?v=B16Bo47KS2g

LOL
Ubi maior minor cessat
  • #433,955
  • Jul 4, 2016 6:32am Jul 4, 2016 6:32am
https://encrypted-tbn1.gstatic.com/i...LFcPIVPtg3dpwg
970 × 545 - nerdist.com
Don't Leave Money on the Table
  • #433,956
  • Jul 4, 2016 6:34am Jul 4, 2016 6:34am
Quoting Lock
{quote} Now GB is trading below value (GB current value). We have two possibilities: going far below 132435 trying to open preUS with a gap down and in that case the weak references above could be skipped for some time. remaining somewhere around current price so "short in the hole" offering a good opportunity to us traders in order to retrace up to current weak refernce above: 13300 / 133067 / 133394 / 13349 Note that right now we tagged again GB hb (13269) that is now weak. Let's see.
taken out

I clearly forgot a possibility: GB able to retrace its own weak references for itsself, even befor preUS open. Shame upon me.
Ubi maior minor cessat
  • #433,957
  • Jul 4, 2016 6:44am Jul 4, 2016 6:44am
Right now we are in the middle of friday pit range/value some pips above friday US pit unchanged (close) and a couple of pips below friday GB close: It's a full balance for now and, if preUS will open somewhere here, it will mean,at least initially, acceptation of friday price range.
Ubi maior minor cessat
  • #433,958
  • Jul 4, 2016 7:21am Jul 4, 2016 7:21am
Quoting Lock
Right now we are in the middle of friday pit range/value some pips above friday US pit unchanged (close) and a couple of pips below friday GB close: It's a full balance for now and, if preUS will open somewhere here, it will mean,at least initially, acceptation of friday price range.
Now, if you want to see some of the weak refs above taken out, first of all you want to see price acceptation above friday pit unch (13273) plus above current pre US open 13272. Then you want to see price above friday pit value high (13287). If so, then targets above are possible. But right now price is up and down open and it means great uncertainty and huge lack of conviction in any direction. Let's see.
Ubi maior minor cessat
  • #433,959
  • Jul 4, 2016 7:51am Jul 4, 2016 7:51am
Quoting Lock
{quote} Now, if you want to see some of the weak refs above taken out, first of all you want to see price acceptation above friday pit unch (13273) plus above current pre US open 13272. Then you want to see price above friday pit value high (13287). If so, then targets above are possible. But right now price is up and down open and it means great uncertainty and huge lack of conviction in any direction. Let's see.

Now we got a preUS poor low and B m30 period is inside bar of A m30 period
Ubi maior minor cessat
  • #433,960
  • Jul 4, 2016 7:52am Jul 4, 2016 7:52am
Quoting Lock
{quote} Now, if you want to see some of the weak refs above taken out, first of all you want to see price acceptation above friday pit unch (13273) plus above current pre US open 13272. Then you want to see price above friday pit value high (13287). If so, then targets above are possible. But right now price is up and down open and it means great uncertainty and huge lack of conviction in any direction. Let's see.
You are right. Since last 4-5 hours it is directionless.
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