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Cable Update (GBPUSD)

  • #434,761
  • Jul 19, 2016 11:52pm Jul 19, 2016 11:52pm
Quoting hippiedog
{quote} Confident. Next major buy on this signal I have is 1.2961 on 5 min with same TP target.See what ABC nonsense London dishes out in a moment.


Good to hear someone else with the same buy area's.

I have kind of lost my confidence on the pound since brexit.
20 Pips a day keeps centerlink away
  • #434,762
  • Jul 20, 2016 12:14am Jul 20, 2016 12:14am
Quoting PaulDaemon
{quote} Good to hear someone else with the same buy area's. I have kind of lost my confidence on the pound since brexit.
Well I got up early for this one so time for an espresso.
let's hope it comes in.
FREEDOM IS SECURITY.
  • #434,763
  • Jul 20, 2016 12:48am Jul 20, 2016 12:48am
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So, pound did first target what i told last time. Now it will rollback and after that a new down move.
  • #434,764
  • Jul 20, 2016 1:28am Jul 20, 2016 1:28am
Quoting elbert3
{quote} What's happened ? Flipped short to long 3180 as the news was green ? So just took the same as last week 3111 . Thought I would of come out of the meeting at 3400 ?

Hi Elbert, nothing happened if you were referring to me: only tired for the day. If instead you were referring to the market a break down from a 4 days balance happened. I don't know if is a good one: I didn't see good volumes nor a great conviction coming down. I really don't know for now: it's currently testing the go/no go level (bracket low 13119) of that balance. Have a nice trading
Ubi maior minor cessat
  • #434,765
  • Edited 1:46am Jul 20, 2016 1:31am | Edited 1:46am
Quoting dean1star
{quote} Well staying short from yesterday, so see how it plays tomorrow.
Hi dean1star, as said it is now testing the lower level of the bracket and current overnight high is a clear near place to correct (131146). At the same time all this correction is coming from a poor Tokyo low at 130645 and considering the the way it made it all that move is very weak. But is now 1 timeframing higher
Ubi maior minor cessat
  • #434,766
  • Edited 1:55am Jul 20, 2016 1:32am | Edited 1:55am
I forgot: good morning and good trading everyone!

Let's see if after the (probable?) correction of 131146 it will come back creating a gap down for gb session or not.
(edit)If a gap down happens it could "protect" the weak references above, 131146 included (but it's a very very bad level right now)

Note that yesterday gb session spike down base at 131597 is the upward initial reference for today gb session.
Generally if the new session opens inside the spike or below it it could be interpreted as a good sign for initial continuation down. (Because it mean acceptation of the previous attempt down) Othewise, conversely, if price opens above the base of a spike down, it could mean rejection of the previous attempt down.

Below we have the GB-GAP-down -remaining untouched from 2016.07.05 (130468-13085) and the more recent GB-GAP-up from 2016.07.11(13018-13085). Those gaps are possible space to fill for today if gb will go down.
Ubi maior minor cessat
  • #434,767
  • Edited 2:25am Jul 20, 2016 2:00am | Edited 2:25am
Quoting Lock
{quote} Hi dean1star, as said it is now testing the lower level of the bracket and current overnight high is a clear near place to correct (131146). At the same time all this correction is coming from a poor Tokyo low at 130645 and considering the the way it made it all that move is very weak. But is now 1 timeframing higher

It corrected a big part of that move before gb open (gb opened with a gap down and below spike)


Up and down open (130835) for 30 min: great uncertainty. Considering the upcoming news and the very weak references below (130645) and above (131146) it could be quite tricky.
Ubi maior minor cessat
  • #434,768
  • Jul 20, 2016 2:30am Jul 20, 2016 2:30am
Quoting fxtrader18
Will look for something like this. Already shorted this down to the neck line and have closed all positions. {image}
I have your same view, bear movement with TP 1,2980

http://www.fxstreet.com/news/gbp-usd...b-201607200656
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  • #434,769
  • Jul 20, 2016 2:39am Jul 20, 2016 2:39am
Quoting Lock
{quote} Hi dean1star, as said it is now testing the lower level of the bracket and current overnight high is a clear near place to correct (131146). At the same time all this correction is coming from a poor Tokyo low at 130645 and considering the the way it made it all that move is very weak. But is now 1 timeframing higher
Well good luck today then Lock - hang on to that hat of yours hey ..
  • #434,770
  • Jul 20, 2016 2:49am Jul 20, 2016 2:49am
Quoting Lock
{quote} It corrected a big part of that move before gb open (gb opened with a gap down and below spike) Up and down open (130835) for 30 min: great uncertainty. Considering the upcoming news and the very weak references below (130645) and above (131146) it could be quite tricky.

Now we have also a poor high for gb only protected by the gap down. Will it go to close the gap down up to the weak Tokyo ref 131146? And then will it go down again to fill the old gaps? Or will it go down to correct firstly the tokyo poor low 130645 and then up to retake the poor high. I don't know the sequence (if any: beacause it could also simly go down from here without correcting anything above or the opposite). And considering the fast move we could expect from news, it could be a sort of gambling..
Ubi maior minor cessat
  • #434,771
  • Edited 3:22am Jul 20, 2016 2:58am | Edited 3:22am
Quoting dean1star
{quote} Well good luck today then Lock - hang on to that hat of yours hey ..
Good luck to you too: if I only had your patience, seriously!
Ubi maior minor cessat
  • #434,772
  • Jul 20, 2016 3:02am Jul 20, 2016 3:02am
Now the poor high is becoming ridicolous (13096) even if protected by the gap down. And up to 13150 we have only absurd bad structure. One of the most insecure 2016 market in my opinion: look at the gb session range dimension:19 pips after 1 hour !
Ubi maior minor cessat
  • #434,773
  • Jul 20, 2016 3:15am Jul 20, 2016 3:15am
All this week is ridiculous sofar. I don't remember GU going up and down in such a sloppy way like it's doing now.
  • #434,774
  • Jul 20, 2016 3:20am Jul 20, 2016 3:20am
Quoting mades
All this week is ridiculous sofar. I don't remember GU going up and down in such a sloppy way like it's doing now.

Yes.. there is nobody in this market but "trading money".. Well, at least we know that.
Ubi maior minor cessat
  • #434,775
  • Jul 20, 2016 3:31am Jul 20, 2016 3:31am
Quoting Lock
Now the poor high is becoming ridicolous (13096) even if protected by the gap down. And up to 13150 we have only absurd bad structure. One of the most insecure 2016 market in my opinion: look at the gb session range dimension:19 pips after 1 hour !

well at least it removed that poor high and now 13100 is weak.(it was - edit)
Ubi maior minor cessat
  • #434,776
  • Jul 20, 2016 3:33am Jul 20, 2016 3:33am
Quoting Lock
{quote} Now we have also a poor high for gb only protected by the gap down. Will it go to close the gap down up to the weak Tokyo ref 131146? And then will it go down again to fill the old gaps? Or will it go down to correct firstly the tokyo poor low 130645 and then up to retake the poor high. I don't know the sequence (if any: beacause it could also simly go down from here without correcting anything above or the opposite). And considering the fast move we could expect from news, it could be a sort of gambling..

Well it looks like the first one was correct.. And the gap is "closed" (1 pip below 131266 to be precise)
Ubi maior minor cessat
  • #434,777
  • Jul 20, 2016 3:46am Jul 20, 2016 3:46am
Quoting Lock
Now the poor high is becoming ridicolous (13096) even if protected by the gap down. And up to 13150 we have only absurd bad structure. One of the most insecure 2016 market in my opinion: look at the gb session range dimension:19 pips after 1 hour !
All that corrected. But now let's see how it will play with the spike base at 131597. Will it test it or not?

NOte: a lot of single pips below right now.
Ubi maior minor cessat
  • #434,778
  • Jul 20, 2016 3:55am Jul 20, 2016 3:55am
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  • #434,779
  • Jul 20, 2016 3:59am Jul 20, 2016 3:59am
Quoting Lock
.... Note that yesterday gb session spike down base at 131597 is the upward initial reference for today gb session.....
now it's up and down that level: it's testing it. If there is acceptation below it, the move up could be stopped here at least for gb session. Otherwise, if price will accept above, we may consider a full revisitation of all what we have above (from yesterday). Consider that we have a lot of single pips below (too many) And the starting point of this move (poor low at 13078) is very weak.
Ubi maior minor cessat
  • #434,780
  • Jul 20, 2016 4:14am Jul 20, 2016 4:14am
Quoting Lock
{quote} now it's up and down that level: it's testing it. If there is acceptation below it, the move up could be stopped here at least for gb session. Otherwise, if price will accept above, we may consider a full revisitation of all what we have above (from yesterday). Consider that we have a lot of single pips below (too many) And the starting point of this move (poor low at 13078) is very weak.
Shhh talk to much

Quoting PaulDaemon
I've gone long tp at 1.3200
cut my longs already

Some good data numbers though
20 Pips a day keeps centerlink away
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