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Cable Update (GBPUSD)

  • #434,681
  • Jul 18, 2016 10:15pm Jul 18, 2016 10:15pm
Quoting KeenPips
I have chosen to trade GBPNZD rather than GBPUSD. I have a bias to the upside on both but the GBPNZD appears to have a better potential technically. I may be wrong. Trade safe
Hey Buddie.....The only pairs i don't even go close to are GNZD, ENZD and GAUD because of the mad volatility so i commend you for trading that but i have looked at my chart now and i am not too sure it is safe going long because all 3TFs i see have hit their TOPS. Wish you luck though. Attached are charts to show why.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPNZDDaily.png Size: 21 KB
Click to Enlarge Name: GBPNZDH4.png Size: 20 KB
Click to Enlarge Name: GBPNZDH1.png Size: 28 KB
Trading Eternal...... Shiny & Chrome!!!!
  • #434,682
  • Jul 18, 2016 10:18pm Jul 18, 2016 10:18pm
Here is forecast of GU for today. GL and happy pipping!
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1.png Size: 33 KB
Trading Eternal...... Shiny & Chrome!!!!
  • #434,683
  • Jul 18, 2016 10:56pm Jul 18, 2016 10:56pm
Quoting iamawaited
{quote} Hey Buddie.....The only pairs i don't even go close to are GNZD, ENZD and GAUD because of the mad volatility so i commend you for trading that but i have looked at my chart now and i am not too sure it is safe going long because all 3TFs i see have hit their TOPS. Wish you luck though. Attached are charts to show why. {image} {image} {image}
Thanks bud, that was 4 hours ago and I made 110 pips on it. Trade safe.
Do your homework, follow the footprints of smart money
  • #434,684
  • Edited 1:28am Jul 19, 2016 1:17am | Edited 1:28am
Quoting Lock
{quote} ....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.

  1. we spent all night long right there


Quoting Lock
{quote} {quote} ... there is also an old gap up to correct if continuation occurs. The gap is from 131865 to 132055

  1. this gap is still in place and is clearly a possible target


Quoting Lock
This brexit low at 13227 is a pain. I start to really have enough of it.

  1. We spent a big part of this Tokyo session at the same price the notorious "brexit low" at 13227.


Quoting Lock
Overnight inventory is 100% long. All the overnight activity took place above friday pit unchanged at 13184: It's possible a correction of overnight inventory. Considering also the weak zone at 13132-33. For now it's up and down preUS open. Very uncertain market as gb session.

  1. overnight inventory corrected
  2. 13132-33 still a possible target below for today


Quoting Lock
Information market is giving to us: it is not able to stay above friday pit high 133045 it is not ble to stay above overnight high at 13292 and it's up and down this price. price action is one time framing higher but we have big weak references below.

  1. some of them already taken out some to take for today?


Quoting Lock
For instance what market is telling me is that it wasn't able to preserve a double distribution, it closed the clean space between the two balances and now price is inside the lower balance. So now odds are for a possible correction of the lower weak references .

  1. it's happened during last part of yesterday pit session and during current Tokyo session.


and now 13204 current Tokyo poor low cluster is nowextraordinary weak.

While above we have:

  1. 132765 Sydney poor high
  2. 13350 round number weak for pit session
  3. 13400 round number weak for preUS and Pit sessions
  4. the weak zone at 13476

Ubi maior minor cessat
  • #434,685
  • Jul 19, 2016 1:26am Jul 19, 2016 1:26am
Quoting Ill-b-back
someone earlier mentioned the inverse relationship between GU and EG. I am curious... {image} {image}
You have pound dollar targeted as an up move, supposing the price heads south, and the euro pound then went north, as with all things in this game nothing is set in stone .. for if it was then ..
The logic is there for sure but it does not always pan that way.
  • #434,686
  • Jul 19, 2016 2:00am Jul 19, 2016 2:00am
note: current Tokyo move down comes from Tokyo half back at 13237. We are now going to open with a little gap down for gb session and inside previous gb gap up. We have been at this level for too much time. So this level is clearly very weak but at the same time the fact that it spent so many afforts to take it out does not provide good news for continuation down. Very uncertain situation.
Ubi maior minor cessat
  • #434,687
  • Jul 19, 2016 2:02am Jul 19, 2016 2:02am
Quoting Lock
note: current Tokyo move down comes from Tokyo half back at 13237. We are now going to open with a little gap down for gb session and inside previous gb gap up. We have been at this level for too much time. So this level is clearly very weak but at the same time the fact that it spent so many afforts to take it out does not provide good news for continuation down. Very uncertain situation.
little gap down closed immediately.
Ubi maior minor cessat
  • #434,688
  • Jul 19, 2016 2:05am Jul 19, 2016 2:05am
brexit low at 13227 tagged at the pip then down again. 13227 is now weak but let's see if gb is able to stay inside yesterday range or not.
Ubi maior minor cessat
  • #434,689
  • Jul 19, 2016 2:22am Jul 19, 2016 2:22am
Quoting Lock
brexit low at 13227 tagged at the pip then down again. 13227 is now weak but let's see if gb is able to stay inside yesterday range or not.
brexit low at 13227 taken out: is gb able to accept yesterday range or not? We need a new 30 min period for a possible confirmation.
Ubi maior minor cessat
  • #434,690
  • Jul 19, 2016 2:27am Jul 19, 2016 2:27am
Quoting dean1star
{quote} You have pound dollar targeted as an up move, supposing the price heads south, and the euro pound then went north, as with all things in this game nothing is set in stone .. for if it was then .. The logic is there for sure but it does not always pan that way.
My point was not a prediction of direction, but the inverse relationship of pattern emerging on the respective pairs, something which you have reinforced with your post.
Come with me if you want to live....
  • #434,691
  • Jul 19, 2016 2:37am Jul 19, 2016 2:37am
Quoting Lock
{quote} there is also an old gap up to correct if continuation occurs. The gap is from 131865 to 132055

 

  1. this gap is still in place and is clearly a possible target

... 13132-33 still a possible target below for today ...... and now 13204 current Tokyo poor low cluster is nowextraordinary weak..

Tokyo poor low taken out and then it filled the old gap and taken out yesterday Sydney low too at 131865.
Ubi maior minor cessat
  • #434,692
  • Edited 2:57am Jul 19, 2016 2:43am | Edited 2:57am
By now gb corrected brexit low and went down, rejecting yesterday range. For a gb continuation down we need a confirmation below overnight low (132045) If up and down that level: not a good sign for continuation. Edit: and consider also that Sydney low at 131865 was also yesterday day low, so up and down this level is a sign of uncertainty for the current break down from balance. (Yesterday was inside friday range: so we are now in a break down attempt from that balance and if it fails the target is the opposite side of that range)
Ubi maior minor cessat
  • #434,693
  • Jul 19, 2016 2:49am Jul 19, 2016 2:49am
with news coming in 40 min it could be a nice entry
Attached Image (click to enlarge)
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persistence and determination alone are omnipotent
  • #434,694
  • Jul 19, 2016 2:58am Jul 19, 2016 2:58am
Quoting Ill-b-back
{quote} My point was not a prediction of direction, but the inverse relationship of pattern emerging on the respective pairs, something which you have reinforced with your post.
a picture can paint a thousand words, thoughts to read need some practice.
i trade both pairs have done for a couple of years and synergy aside, you still have to know which way the pound dollar is moving.
nothing is set in stone of course, take now news out at 9.30 pound dollar is it north or south, you dont know we all dont know - but sure when you do then the pairing can come alive. It does not move as much as other pairs, POUND EURO. Its slower in its movements, all pairs have their own distinct movements and adr's.
You know the game of trading, and thanks for quoting my previous post..

Short from yesterday at 132 750 ..
  • #434,695
  • Jul 19, 2016 3:05am Jul 19, 2016 3:05am
For continuation down we would like to see period C (current m30) staying easily below B period low (13171) If not consider also that C period comes from exactly yesterday low so is a weak high.
Ubi maior minor cessat
  • #434,696
  • Jul 19, 2016 3:06am Jul 19, 2016 3:06am
weekly support not flipping yet till the line or the news
  • #434,697
  • Jul 19, 2016 3:07am Jul 19, 2016 3:07am
Quoting Ll1979
with news coming in 40 min it could be a nice entry {image}
Good chart see you still like the lines lol . Regards E
  • #434,698
  • Jul 19, 2016 3:08am Jul 19, 2016 3:08am
Quoting Lock
For continuation down we would like to see period C (current m30) staying easily below B period low (13171) If not consider also that C period comes from exactly yesterday low so is a weak high.

yes low corrected by C but still up and down that level: I don't like this at all.
Ubi maior minor cessat
  • #434,699
  • Jul 19, 2016 3:11am Jul 19, 2016 3:11am
Quoting elbert3
{quote} Good chart see you still like the lines lol . Regards E
Hi B hope your doing ok still loving those lines
persistence and determination alone are omnipotent
  • #434,700
  • Jul 19, 2016 3:33am Jul 19, 2016 3:33am
Interesting stuff. I wonder if there will be a surprise no rate cut in August too?
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