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Cable Update (GBPUSD)

  • #434,861
  • Jul 21, 2016 3:40am Jul 21, 2016 3:40am
Quoting PaulDaemon
{quote} My charts dont have any gaps maybe you are using NY open chart?{image}
I'm using a market profile tool in order to visualize the single sessions separately: Sydney, Tokyo, GB, preUS and Pit Us. If you like you may use this to see the same thing I'm seeing (quite similar at least)
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  • #434,862
  • Jul 21, 2016 3:42am Jul 21, 2016 3:42am
what you say friends.

new chart
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd1.1.jpg Size: 212 KB


Old Chart
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.jpg Size: 236 KB
Work Hard In Silence, Let Your Success Be Your Noise.
  • #434,863
  • Jul 21, 2016 3:43am Jul 21, 2016 3:43am
Quoting el_duende
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.

Yes, it derives from the Jim Dalton's method to visualize gaps (a lot of floor traders and not only Mr. Dalton to be exact, used it). I'm using it in the forex environment and I do not know if He could approve it or not, but it works for me and so I use it.
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  • #434,864
  • Jul 21, 2016 4:13am Jul 21, 2016 4:13am
Quoting Lock
{quote} 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)

So that's it: the news unfold a full retracement of the gap. Now it went inside yesterday range (gb session) and if price is accepted below 131976 (yesterday gb high) there is a possibility to go down even further to retake all the weak references below. BUT the problem is that I hoped to see all what I have seen AFTER a good correction of Sydney high at 13274 that is not happened unfortunately. So this move down is very unsecure for me.
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  • #434,865
  • Jul 21, 2016 4:16am Jul 21, 2016 4:16am
Quoting el_duende
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.
lol had me puzzled for a while.

@ Lock great posts by the way.
  • #434,866
  • Jul 21, 2016 4:17am Jul 21, 2016 4:17am
looks like it could . Could stay in a new range of so the possible bounce would take us to a higher number 4200 area ? Need this week to close over 3180
  • #434,867
  • Jul 21, 2016 4:21am Jul 21, 2016 4:21am
Quoting claudia1
{quote} lol had me puzzled for a while. @ Lock great posts by the way.

Many thanks Claudia!

13210 is half back so is weak. Still up and down yesterday high (great uncertainty) And , by now, still one time framing lower in m30.
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  • #434,868
  • Jul 21, 2016 4:36am Jul 21, 2016 4:36am
Quoting Lock
{quote} Many thanks Claudia! 13210 is half back so is weak. Still up and down yesterday high (great uncertainty) And , by now, still one time framing lower in m30.
taken out.** Then down again.

** taken out for 2 pips: not very good.
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  • #434,869
  • Jul 21, 2016 4:39am Jul 21, 2016 4:39am
Quoting keep4x
what you say friends. new chart {image} Old Chart {image}
Do your homework, follow the footprints of smart money
  • #434,870
  • Jul 21, 2016 4:49am Jul 21, 2016 4:49am
Quoting Lock
{quote} taken out.** Then down again. ** taken out for 2 pips: not very good.
... and infact it went up again to correct it. Note that the 1 time framing lower is now interrupted once. And we tagged exactly the gb lowest close of June at 132138 (13214)
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  • #434,871
  • Jul 21, 2016 5:00am Jul 21, 2016 5:00am
Quoting iamawaited
Here we Go... Long term H4 forecast. Potential Kitchen Sink Trade on our hands. {image}
Common GU... more pips down then we can go for the 500 pip sky high Kitchen Sinker!!!!!
HOPEFULLY
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1.png Size: 32 KB
Trading Eternal...... Shiny & Chrome!!!!
  • #434,872
  • Jul 21, 2016 5:06am Jul 21, 2016 5:06am
Quoting Lock
{quote} ... and infact it went up again to correct it. Note that the 1 time framing lower is now interrupted once. And we tagged exactly the gb lowest close of June at 132138 (13214)
taken out. Now 1 timeframing lower is no more. 2 m30 periods interrupted it. If you are buying this retracement your structural stop los could be right below yesterday gb session high. Note also that E period was inside bar of D period. So, technically this an attempted break out from balance. If for some reason it will fail the target is the opposite side of that balance.
Further note: we are now filling with volume the early morning gap up.
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  • #434,873
  • Jul 21, 2016 5:22am Jul 21, 2016 5:22am
Quoting duyk20
GU are reaching major resistance level, so expect some bounces. Still pretty much bearish for me. {image}
Get out of the trades with 40 pips. Nice little profit
  • #434,874
  • Jul 21, 2016 5:27am Jul 21, 2016 5:27am
and what do we find here??? The brexit low!!!!! (naturally weak flavour)
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  • #434,875
  • Edited 6:07am Jul 21, 2016 5:49am | Edited 6:07am
Quoting Lock
{quote} taken out. Now 1 timeframing lower is no more. 2 m30 periods interrupted it. If you are
buying this retracement your structural stop los could be right below yesterday gb session high. Note also that E period
was inside bar of D period. So, technically this an attempted break out from balance. If for some reason it will fail the
target is the opposite side of that balance. Further note: we are now filling with volume the early...
apposite side of the balance (E period=balance) is at 13184: taken out

So let me write a thing: At 10:30 (+1GMT) we got a news. That news force price down to 13155 starting from 132205. Now big money does not act in such a way. They do not butcher a market like this. So all that move was made by weak money. Now, if you want to give a meaning to what we have seen in the last 2 hours: did you see that price(bigger money) went up only to take out the starting price(weaker money) of that news?

Now, there are different time frames as anyone knows so, obviously those who acted above that level were stronger then those who went down with the news, but at the same time, as you noticed, this correction down is now coming from 13227 that is the brexit low price. So this action is still weak if compared with major timeframes that, in my opinion, are currently absent in this market, at all.
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  • #434,876
  • Jul 21, 2016 7:04am Jul 21, 2016 7:04am

  1. preUS open inside yesterday range exactly at yesterday open price 131728! Incredible if you consider that today gb session opened exactly at gb Monday open price (132585). This means only a thing: total absence of major timeframes, full controll of trading money (very weak money).

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  • #434,877
  • Jul 21, 2016 7:04am Jul 21, 2016 7:04am
Good Afternoon !
Welcome to the ECB day! and Enjoy

Today's S/R levels on MT4 Templates

EURO
CABLE
DAX
USDJPY
EURGBP

http://www.forexfactory.com/showthre...50#post9041050

EURO PINK
FX is a Bitc*h!, No one keeps me wake all night but FX does!!
  • #434,878
  • Jul 21, 2016 7:11am Jul 21, 2016 7:11am
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM30passed.png Size: 116 KB
  • #434,879
  • Jul 21, 2016 7:20am Jul 21, 2016 7:20am
I had favoured trading GBPNZD over GBPUSD at the beginning of the week and still in favour. However, the technicals on GBPNZD are mixed at the moment. Therefore, I will not trade it again this week until there is alignment and the GBP's fundamentals have improved.

KP
Do your homework, follow the footprints of smart money
  • #434,880
  • Jul 21, 2016 7:44am Jul 21, 2016 7:44am
Quoting Lock
preUS open inside yesterday range exactly at yesterday open price 131728! Incredible if you consider that today gb session opened exactly at gb Monday open price (132585). This means only a thing: total absence of major timeframes, full controll of trading money (very weak money).

current move: period B from open price 131728 to yesterday unchanged pit price (pit close)132038 !!!!
while gb session was coming down from its open at 132585 !!

It's an incredible weak market made only of exact references!
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