Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

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#434,621
Jul 18, 2016 2:55am Jul 18, 2016 2:55am

Lock
Joined Apr 2012 | Status: Trader | 8,327 Posts

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{quote} {quote} 13242taken out too 13228 is today gb open and we are tagging it right now: it's weak there is also an old gap up to correct if continuation occurs. The gap is from 131865 to 132055

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13228 taken out

Now we have a poor low for gb session.
note also the poor low of Thursday Sydney at 13104. It's pretty far but let's see.

An important note it's about current market position. We are exactly between June gb session close at 13240 and June gb session lowest close at 13214. So substantially it's testing June lowest levels.

Ubi maior minor cessat

#434,622
Jul 18, 2016 2:55am Jul 18, 2016 2:55am

adetola99
Joined Sep 2009 | Status: Trader | 290 Posts

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{quote} {quote} 13242taken out too 13228 is today gb open and we are tagging it right now: it's weak there is also an old gap up to correct if continuation occurs. The gap is from 131865 to 132055

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welcome back love to see more of you on this forum
read your pdf and it good still studying it.

#434,623
Jul 18, 2016 3:04am Jul 18, 2016 3:04am

Lock
Joined Apr 2012 | Status: Trader | 8,327 Posts

Quoting adetola99

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{quote} welcome back love to see more of you on this forum read your pdf and it good still studying it.

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Hi adetola99, are you reading the market profile handbook? If so I hope you'll find it as useful for your learning process as it was for me.
I don't know if I'll be present in this forum next days. It's an attempt but if for some aspects it is very helping to write down all this notes at the same time it's quite distracting.

Ubi maior minor cessat

#434,624
Edited 3:50am Jul 18, 2016 3:21am | Edited 3:50am

Lock
Joined Apr 2012 | Status: Trader | 8,327 Posts

13228 ( today gb open ) is again weak. Now the structure below is, as said, full of possible weak references to correct. But at the same time the friday pit move was hideous. I have no idea whatsoever of current market direction (if any) I only could notice the total absence of real money in this environment. There is lack of conviction in any direction. If you are selling, monitor for continuation. You want to see price below overnight low, and then you want to see the filling of the old gap up.

13228 tagged again. It's now weaker.

Ubi maior minor cessat

#434,625
Jul 18, 2016 3:58am Jul 18, 2016 3:58am

Lock
Joined Apr 2012 | Status: Trader | 8,327 Posts

Quoting Lock

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13228 ( today gb open ) is again weak. Now the structure below is, as said, full of possible weak references to correct. But at the same time the friday pit move was hideous. I have no idea whatsoever of current market direction (if any) I only could notice the total absence of real money in this environment. There is lack of conviction in any direction. If you are selling, monitor for continuation. You want to see price below overnight low, and then you want to see the filling of the old gap up. 13228 tagged again. It's now weaker.

Ignored

13228 taken out again leaving a weaker poor low now (3 back to back m30 lows).
below there is still the Tokyo poor low at 13211 (made with bank holiday) and the old gap up from 131865 to 132055

Note that above we have tagged the gb june close at 13240 that is now very weak. Very uncertain market.

Ubi maior minor cessat

#434,626
Jul 18, 2016 4:11am Jul 18, 2016 4:11am

Lock
Joined Apr 2012 | Status: Trader | 8,327 Posts

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{quote} 13228 taken out again leaving a weaker poor low now (3 back to back m30 lows). below there is still the Tokyo poor low at 13211 (made with bank holiday) and the old gap up from 131865 to 132055 Note that above we have tagged the gb june close at 13240 that is now very weak. Very uncertain market.

Ignored

and for the upcoming us session there is a clear zone of interest at the bracket low level 13132 protected by the pit gap. Odds are for a serious testing of this zone during next pit sessions(maybe today? ..don't know) while above we have the pit poor high at 13304 right inside current gb gap low.

Ubi maior minor cessat

#434,627
Jul 18, 2016 4:17am Jul 18, 2016 4:17am

elbert3
Joined Dec 2013 | Status: Trader | 19,815 Posts

nice to see 3327

#434,628
Jul 18, 2016 4:21am Jul 18, 2016 4:21am

Lock
Joined Apr 2012 | Status: Trader | 8,327 Posts

june close at 13240 corrected. Now, if the poc ~~remains~~ migrate down in the lowest balance of gb session we have a possibility for a spike down.

Ubi maior minor cessat

#434,629
Jul 18, 2016 4:33am Jul 18, 2016 4:33am

Lock
Joined Apr 2012 | Status: Trader | 8,327 Posts

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june close at 13240 corrected. Now, if the poc remains migrate down in the lowest balance of gb session we have a possibility for a spike down.

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now 13250 is weak again. Poc didn't migrate down to the lowest balance of gb session.

Ubi maior minor cessat

#434,630
Jul 18, 2016 4:37am Jul 18, 2016 4:37am

Lock
Joined Apr 2012 | Status: Trader | 8,327 Posts

Quoting elbert3

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nice to see 3327

Ignored

13327 is July pit open.

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#434,631
Jul 18, 2016 4:37am Jul 18, 2016 4:37am

elbert3
Joined Dec 2013 | Status: Trader | 19,815 Posts

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#434,632
Jul 18, 2016 4:40am Jul 18, 2016 4:40am

elbert3
Joined Dec 2013 | Status: Trader | 19,815 Posts

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this is how i see it not being a trader ??? and the above hope that it breaks the tl or try shot scalp until it try again

#434,633
Jul 18, 2016 4:40am Jul 18, 2016 4:40am

Lock
Joined Apr 2012 | Status: Trader | 8,327 Posts

Quoting elbert3

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{image}

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yes, absolutely a weak level. The problem here is that we have a lot of weak levels everywhere.

Ubi maior minor cessat

#434,634
Jul 18, 2016 4:42am Jul 18, 2016 4:42am

elbert3
Joined Dec 2013 | Status: Trader | 19,815 Posts

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make your mind up time

#434,635
Jul 18, 2016 4:42am Jul 18, 2016 4:42am

adetola99
Joined Sep 2009 | Status: Trader | 290 Posts

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{quote} Hi adetola99, are you reading the market profile handbook? If so I hope you'll find it as useful for your learning process as it was for me. I don't know if I'll be present in this forum next days. It's an attempt but if for some aspects it is very helping to write down all this notes at the same time it's quite distracting.

Ignored

yes, I am reading it and I can now see why price goes to a level and stop or continue ,which help my trading system to synchro to the market more and help decision making.
Now my trade does what the market is profile to be and not what I want the market to be .

#434,636
Jul 18, 2016 4:51am Jul 18, 2016 4:51am

Lock
Joined Apr 2012 | Status: Trader | 8,327 Posts

Quoting adetola99

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{quote} yes, I am reading it and I can now see why price goes to a level and stop or continue ,which help my trading system to synchro to the market more and help decision making. Now my trade does what the market is profile to be and not what I want the market to be .

Ignored

Good. You see it's a very long process, but it worth it. By the way current market is very very difficult even if you have a good approximation of what is going on. Without a well organized database of market informations it's quite a mess: at the end of the story the market profile is a method to organize market data, that's all.

Ubi maior minor cessat