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Cable Update (GBPUSD)

  • #434,841
  • Jul 21, 2016 2:34am Jul 21, 2016 2:34am
only my view, what you say friends ?

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Work Hard In Silence, Let Your Success Be Your Noise.
  • #434,842
  • Jul 21, 2016 2:38am Jul 21, 2016 2:38am
GU reached daily resistance
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persistence and determination alone are omnipotent
  • #434,843
  • Jul 21, 2016 2:41am Jul 21, 2016 2:41am
Quoting Lock
{quote} Hi Paul, for today gap I'm referring to the "empty space" formed from the top of yesterday gb session to the open of today gb session. Now, this gap has been reduced by initial price action and it is up to current gb session low at 132405. The other gap I was speaking about formed, as said, as a space between 2016.07.15 gb session low and the following Monday gb session high. Note: the initial 13250 weak round number has been easily taken out. current gb action is starting exactly from gb session June close at 13240 (that is also today Tokyo...
You mean we should buy now?
Artist lead and hacks ask for a show of hands.
  • #434,844
  • Jul 21, 2016 2:43am Jul 21, 2016 2:43am
Quoting keep4x
only my view, what you say friends ? {image}
Hi it looks like you have a line above ? That might have tl attraction there too . Regards E
  • #434,845
  • Jul 21, 2016 2:43am Jul 21, 2016 2:43am
Quoting Ll1979
GU reached daily resistance {image}
Reject or breakout? what do you think? I have an idea where GBP is really strong. My point is i just look at EURGBP.
Artist lead and hacks ask for a show of hands.
  • #434,846
  • Jul 21, 2016 2:45am Jul 21, 2016 2:45am
Quoting RBlackburn
Finding support around 1.3220 Looking to trade back into this channel {image}
Really cool colour scheme for an Aston M .. wonder how they would feel
  • #434,847
  • Jul 21, 2016 2:46am Jul 21, 2016 2:46am
GU are reaching major resistance level, so expect some bounces. Still pretty much bearish for me.
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  • #434,848
  • Jul 21, 2016 2:46am Jul 21, 2016 2:46am
Quoting Ll1979
GU reached daily resistance {image}
Morning I have no chart but if you think it has reached a top . On you 5 min put your line on the top and the next wick that you see down . For me that would be the tl to break to go higher . If you can understand that . Regards
  • #434,849
  • Jul 21, 2016 2:47am Jul 21, 2016 2:47am
Quoting duyk20
GU are reaching major resistance level, so expect some bounces. Still pretty much bearish for me. {image}
Nice chart
  • #434,850
  • Jul 21, 2016 2:52am Jul 21, 2016 2:52am
Quoting Lock
{quote} ... We may start to think about the Monday poor Sydney high (at 132735 that is also the current week high)...
I'm very sorry: 132735 it's obviously not the current week nor the Monday high that infact is at 133144 and has been made by Monday pit session. Sorry again for the oversight.

Note:
Quoting Lock
{quote} ... current gb action is starting exactly from gb session June close at 13240 (that is also today Tokyo session half back): an other sign of weakness and uncertainty.
taken out
Ubi maior minor cessat
  • #434,851
  • Jul 21, 2016 2:59am Jul 21, 2016 2:59am
Quoting al_yaqen
{quote} You mean we should buy now?

I didn't say that. We are currently between two gap zones, up and down thursday spike base at 132545.If the current gap up resists the normal rule is to "go with the gap": so yes in that case it's a buy. If instead the gap is retraced quikly that put in place all the weak references below it: and that's mean short. The problem here is that we have a big news during next hour and that, in my opinion, is temporarily freezing this possible test (gap resists or retraced quikly)
Ubi maior minor cessat
  • #434,852
  • Jul 21, 2016 3:00am Jul 21, 2016 3:00am
Quoting al_yaqen
{quote} Reject or breakout? what do you think? I have an idea where GBP is really strong. My point is i just look at EURGBP.
resistance is very strong on multiple time frames (H1, H4, D, W) so i try not to be biased and wait for the rebound either up or down
persistence and determination alone are omnipotent
  • #434,853
  • Jul 21, 2016 3:08am Jul 21, 2016 3:08am
Quoting PaulDaemon
{quote} Can you post a chart picture for me to see please?

Here you are:

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Ubi maior minor cessat
  • #434,854
  • Jul 21, 2016 3:13am Jul 21, 2016 3:13am
waiting for news, abt 16minute more.
Work Hard In Silence, Let Your Success Be Your Noise.
  • #434,855
  • Jul 21, 2016 3:23am Jul 21, 2016 3:23am
Quoting Ll1979
GU reached daily resistance {image}
Good. I suggest you wait for further price action to tell you what the market will do in that area. Bounce off or reject it?

KP
Do your homework, follow the footprints of smart money
  • #434,856
  • Jul 21, 2016 3:23am Jul 21, 2016 3:23am
A big part of gap retraced: an other very very tricky day. Below we have ugly srtucture and at the same time the Sydney high is a monster and current gb move is from open at 132585!! And you know what?? We are now again and again and again at the brexit low 13227!!! And tagged yesterday pit high!!
Ubi maior minor cessat
  • #434,857
  • Jul 21, 2016 3:31am Jul 21, 2016 3:31am
Sydney low tagged and now it is very weak plus gb poor low at 132025 (plus Round number!) . Little part of gap still in place. Gb one timeframing lower in m30.
Ubi maior minor cessat
  • #434,858
  • Jul 21, 2016 3:32am Jul 21, 2016 3:32am
Quoting Lock
{quote} Here you are: {image}
My charts dont have any gaps maybe you are using NY open chart?
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20 Pips a day keeps centerlink away
  • #434,859
  • Jul 21, 2016 3:34am Jul 21, 2016 3:34am
If this continues as a down move then will be looking for a buy into this and an up move after this ..
  • #434,860
  • Jul 21, 2016 3:35am Jul 21, 2016 3:35am
Locks use of the term Gap isn't the same as the conventional meaning of the trading gap. Took me a a while to work that out

Locks gap is the difference between London's daily high/lows etc.
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