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Cable Update (GBPUSD)

  • #435,141
  • Jul 26, 2016 5:27am Jul 26, 2016 5:27am
GBP/USD is stuck in a tight range between 1.3160 - 1.3080 and it's doubtful that range will end before the fundamentals tomorrow.
  • #435,142
  • Jul 26, 2016 5:31am Jul 26, 2016 5:31am
Quoting james1254
GBP/USD is stuck in a tight range between 1.3160 - 1.3080 and it's doubtful that range will end before the fundamentals tomorrow.
I think the best setup for now is a triangle in the 4H time frame, if the fundamentals help it we will see a drop based on that triangle
  • #435,143
  • Jul 26, 2016 6:44am Jul 26, 2016 6:44am
Break of 1.3045 can drag the GBPUSD further down towards 1.2850 re-test.
Attached Image (click to enlarge)
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  • #435,144
  • Jul 26, 2016 6:57am Jul 26, 2016 6:57am
preUS is going to open exactly at yesterday open price! in the middle of yesterday range. Huge uncertainty in this market.
Ubi maior minor cessat
  • #435,145
  • Jul 26, 2016 7:01am Jul 26, 2016 7:01am
Quoting Lock
preUS is going to open exactly at yesterday open price! in the middle of yesterday range. Huge uncertainty in this market.
Thanks for the heads up.....Funny how that happens, by design or just coincidence you think??
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  • #435,146
  • Jul 26, 2016 7:07am Jul 26, 2016 7:07am
Quoting HaLBot
{quote} Thanks for the heads up.....Funny how that happens, by design or just coincidence you think??

It's not a coincidence, it's a sign of weakness: when those involved in a market, controlling it, are weak money they tend to use exact references. To go from "exact here" to "exact there" and so on. Big money have no idea of those references nor do they care less of them. So this is a very important piece of information: you know who is controlling tha market, and how strong a move from "exact here" or "exact there" could be.
Ubi maior minor cessat
  • #435,147
  • Jul 26, 2016 7:12am Jul 26, 2016 7:12am
Quoting Lock
{quote} It's not a coincidence, it's a sign of weakness: when those involved in a market, controlling it, are weak money they tend to use exact references. To go from "exact here" to "exact there" and so on. Big money have no idea of those references nor do they care less of them. So this is a very important piece of information: you know who is controlling tha market, and how strong a move from "exact here" or "exact there" could be.
Thanks Lock for improving my understanding....

Question: Who are the 'Weak Money'?
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  • #435,148
  • Jul 26, 2016 7:19am Jul 26, 2016 7:19am
Quoting Devart
Buy opportunity . I am already in with an aggresive covered position. The OBV on 4 hours TF indicates buy. {image} {image}
me long from 3060....target 3222...
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Money is made by sitting, not trading. Jesse L. Livermore
  • #435,149
  • Jul 26, 2016 7:33am Jul 26, 2016 7:33am
Quoting HaLBot
{quote} Thanks Lock for improving my understanding.... Question: Who are the 'Weak Money'?
Good question. An answer could be: those who are relative really smaller in cash than others. They are day traders, scalpers, etc.
Above them there are "small" or "medium" edge funds or other similar entities able to understand when little cute liquidity providers put themselves in troubles. They generally step in only to eliminate those weak hands, when they see a good opportunity: you may see them during sharp fast moves, big retracements etc.
Then you may find position holders, bigger edge funds capable to hold a position for some day, less then a week or so: they enter a market at the top or a bottom of a daily bracket for instance.
Then there are investors, institutions, etc: they didn't enter a market in one single shot, they generally choose a mid price (because they do not want to be heroes) then they place some, then they wait, then they place some again and so on, untill the finished their huge orders. They stay involved in markets for months or years.

Note: it is only a personal categorization and it is usefull, for me, in order to better understand who are my competitors and who is controlling a particular market.
Ubi maior minor cessat
  • #435,150
  • Jul 26, 2016 7:40am Jul 26, 2016 7:40am
Quoting Lock
{quote} Good question. An answer could be: those who are relative really smaller in cash than others. They are day traders, scalpers, etc. Above them there are "small" or "medium" edge funds able to understand when little cute liquidity providers put themselves in troubles. They step in only to eliminate those weak hands, when they see a good opportunity: you may see them during sharp fast moves, big retracements etc. Then you may find position holders, bigger edge funds capable to hold a position for some day, less then a week or so: they enter...
I knew it but, they way you have expained is excellent. Almost a complete definition. Thanks alot for your trading lessons here and there..
--- only constant in this world is change ---
  • #435,151
  • Jul 26, 2016 7:51am Jul 26, 2016 7:51am
Quiet start to the US session...
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  • #435,152
  • Jul 26, 2016 7:54am Jul 26, 2016 7:54am
Quoting malik_razi
{quote} I knew it but, they way you have expained is excellent. Almost a complete definition. Thanks alot for your trading lessons here and there..

Thanks Malik, you're welcome. I learned all these "lessons" from masters like Jim Dalton, Tom Alexander, etc. Without their direct or indirect teachings and specially without their huge experience, those things could remain totally unknown for younger traders like me.
Ubi maior minor cessat
  • #435,153
  • Jul 26, 2016 7:55am Jul 26, 2016 7:55am
Quoting HaLBot
Quiet start to the US session...
... that too it's more or less the third consecutive day like that? confusion & direction-less. ususal calm before storm? I don't know...
--- only constant in this world is change ---
  • #435,154
  • Jul 26, 2016 7:58am Jul 26, 2016 7:58am
Quoting HaLBot
Quiet start to the US session...

only a pit session could solve weak references of previous pit sessions. We need an other 30 min period before to see what they are going to do.
Ubi maior minor cessat
  • #435,155
  • Jul 26, 2016 8:03am Jul 26, 2016 8:03am
Quoting malik_razi
{quote} ... that too it's more or less the third consecutive day like that? confusion & direction-less. ususal calm before storm? I don't know...
Don't Leave Money on the Table
  • #435,156
  • Jul 26, 2016 8:05am Jul 26, 2016 8:05am
Quoting Lock
{quote} Good question. An answer could be: those who are relative really smaller in cash than others. They are day traders, scalpers, etc. Above them there are "small" or "medium" edge funds or other similar entities able to understand when little cute liquidity providers put themselves in troubles. They generally step in only to eliminate those weak hands, when they see a good opportunity: you may see them during sharp fast moves, big retracements etc. Then you may find position holders, bigger edge funds capable to hold a position for some day,...

Cheers Lock great desciption..

Now I know where on the pecking order I am....
Don't Leave Money on the Table
  • #435,157
  • Jul 26, 2016 8:13am Jul 26, 2016 8:13am
cable continues to be a complete joke. I want big boys back from vacation. Again not even 100 pip range by London afternoon.
  • #435,158
  • Jul 26, 2016 8:22am Jul 26, 2016 8:22am
Here we go....bit of action now...
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  • #435,159
  • Jul 26, 2016 8:25am Jul 26, 2016 8:25am
For scalpers there are two bullish triangles
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  • #435,160
  • Jul 26, 2016 8:37am Jul 26, 2016 8:37am
I feel a short squeeze coming on......I hope LOL
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