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Cable Update (GBPUSD)

  • #435,161
  • Jul 26, 2016 8:40am Jul 26, 2016 8:40am
Quoting HaLBot
I feel a short squeeze coming on......I hope LOL

waddit I tell ya.....

Actually it was a big jump in equities that drove it up....
Don't Leave Money on the Table
  • #435,162
  • Jul 26, 2016 8:45am Jul 26, 2016 8:45am
yesterday pit poor high taken out also by current pit session. Most of the pit gap down taken out but still resisting. Yesterday gb session poor high still in place 3164. Watch out! If it doesn't take out the old gap down up to 31675we have 2 back to back pit poor low below! 3078 30736
Ubi maior minor cessat
  • #435,163
  • Jul 26, 2016 8:48am Jul 26, 2016 8:48am
Quoting Lock
yesterday pit poor high taken out also by current pit session. Most of the pit gap down taken out but still resisting. Yesterday gb session poor high still in place 3164. Watch out! If it doesn't take out the old gap down up to 31675 we have 2 back to back pit poor low below! 3078 30736
All taken out. Now for continuation above, in order to confirm the break out from the 2 days of pit balance , we want to see price above 31674 and we do not want to see price back in to 3143 top of the pit balance.
Ubi maior minor cessat
  • #435,164
  • Jul 26, 2016 8:57am Jul 26, 2016 8:57am
Good day for me made 84.4 piparoonies in total...

Trades:
Sell G/U 3096.1 to 3086 10.1 pips
Sell G/U 3128.6 to 3120.3 8.3 pips
Buy G/U 3136.1 to 3168.3 32.2 pips
Buy G/J 137.014 to 137.355 34.1 pips

I was only in G/J for scalp but price moving so fast they gave 3 extra pips....LOL....I set my TP at the high of 30 minute candle about 9, 30 minute candles ago not expecting the great move we just had
Don't Leave Money on the Table
  • #435,165
  • Jul 26, 2016 8:58am Jul 26, 2016 8:58am
Hope this not trap bull again i'm so pain on this mount
  • #435,166
  • Jul 26, 2016 9:03am Jul 26, 2016 9:03am
Quoting Lock
{quote} All taken out. Now for continuation above, in order to confirm the break out from the 2 days of pit balance , we want to see price above 31674 and we do not want to see price back in to 3143 top of the pit balance.
Do you see it? Now, if price give a confirmation above 3143 there is some remaining possibility to continue higher. If not, and specially if confirms below that pit bracket high the targets are at the opposite side of the balance, exactly at the 2 poor pit lows 3078 30736
Ubi maior minor cessat
  • #435,167
  • Jul 26, 2016 9:10am Jul 26, 2016 9:10am
Quoting iamawaited
{quote} Okay so next GBP Move??? GU heading to hard Support Zone. even though it cracks the only way will be UP for now from what i see. So lets all pray some magic happens and we see 1.37XX in a flash!! Wooh!!! that would be awesome! That is just a dream though. First of all i will like GU to close that little GAP b4 we can do our smooth sweet up ride comfortably... {image} {image}
Cable is in Kitchen Sink sleeping.. it also just formed a mini downtrend flag.. The flag setup is gonna crack the present H1 low which i dont want. Common cable i need new highs.. So next cable move??
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1.png Size: 39 KB
Trading Eternal...... Shiny & Chrome!!!!
  • #435,168
  • Jul 26, 2016 9:32am Jul 26, 2016 9:32am
Quoting Lock
{quote} Do you see it? Now, if price give a confirmation above 3143 there is some remaining possibility to continue higher. If not, and specially if confirms below that pit bracket high the targets are at the opposite side of the balance, exactly at the 2 poor pit lows 3078 30736
Now we have an other pit poor low at 31215.(that is right above the go no go pit bracket low)
Ubi maior minor cessat
  • #435,169
  • Jul 26, 2016 9:37am Jul 26, 2016 9:37am
Quoting Lock
{quote} Now we have an other pit poor low at 31215.(that is right above the go no go pit bracket low)
Taken out that but now we have a weak low formed by preUS session low plus current pit session low at 3115. In any case for continuation down we want to see C period below the go no go level at 31186
Ubi maior minor cessat
  • #435,170
  • Jul 26, 2016 9:40am Jul 26, 2016 9:40am
Have a good US session all...
Don't Leave Money on the Table
  • #435,171
  • Jul 26, 2016 9:42am Jul 26, 2016 9:42am
Rejection off resistance if 4H close as pin I think we will see new low tomorrow.

My longs all closed on G/U now some in profit some in loss but over all in profit.
waiting for fed policy meeting...

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH4-7-27.png Size: 46 KB
20 Pips a day keeps centerlink away
  • #435,172
  • Jul 26, 2016 9:46am Jul 26, 2016 9:46am
GU has been doing fibonacci all day:

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1.png Size: 67 KB
  • #435,173
  • Jul 26, 2016 10:00am Jul 26, 2016 10:00am
Quoting Lock
{quote} Taken out that but now we have a weak low formed by preUS session low plus current pit session low at 3115. In any case for continuation down we want to see C period below the go no go level at 31186
yesterday weak low at 3100 has been removed and we have now an other weak composite low at 3094 (yesterday preUS session low tagged by current pit session): so if it is able to continue down today**, we have 3094 3078 and 30765.

**we are now exactly at the daily very prominent POC: we need a lot of volume to abandon this price level (in any direction).
Ubi maior minor cessat
  • #435,174
  • Jul 26, 2016 10:20am Jul 26, 2016 10:20am
Quoting Lock
{quote} yesterday weak low at 3100 has been removed and we have now an other weak composite low at 3094 (yesterday preUS session low tagged by current pit session): so if it is able to continue down today**, we have 3094 3078 and 30765. **we are now exactly at the daily very prominent POC: we need a lot of volume to abandon this price level (in any direction).

It may continue or not, It could also break seriously: I don't now. If those weak refs remain intact during this pit session, they will be very probable victims of tomorrow pit action. I'm off for today, too tired at this hour of the day. Have a nice trading.
Ubi maior minor cessat
  • #435,175
  • Jul 26, 2016 12:54pm Jul 26, 2016 12:54pm
Quoting iamawaited
{quote} Cable is in Kitchen Sink sleeping.. it also just formed a mini downtrend flag.. The flag setup is gonna crack the present H1 low which i dont want. Common cable i need new highs.. So next cable move?? {image}
up up up is the cable way, watch out what the news tomorrow shall do, cable could leave the kitchen sink tomorrow and return back some other day.
  • #435,176
  • Edited 6:14pm Jul 26, 2016 6:00pm | Edited 6:14pm
If the Asian session holds price around the 3150 area I can see a push above 3200 during Euro session ahead of FOMC.....

Actually as well as FOMC we have 3 days packed with market moving news......gonna get interesting.....
Don't Leave Money on the Table
  • #435,177
  • Jul 26, 2016 9:03pm Jul 26, 2016 9:03pm
Quoting yuddy
{quote} up up up is the cable way, watch out what the news tomorrow shall do, cable could leave the kitchen sink tomorrow and return back some other day.
i dont think so.. it has to do the moves i have predicted first for us to comfortably go up i think.. lets see.
Trading Eternal...... Shiny & Chrome!!!!
  • #435,178
  • Edited 1:56am Jul 27, 2016 1:30am | Edited 1:56am
Quoting Lock
{quote} yesterday weak low at 3100 has been removed and we have now an other weak composite low at 3094 (yesterday preUS session low tagged by current pit session): so if it is able to continue down today**, we have 3094 3078 and 30765. **we are now exactly at the daily very prominent POC: we need a lot of volume to abandon this price level (in any direction).
Good morning!

Everything remains as yesterday.

  1. The composite point of controll (3134) is pretty mature here, so a great amount of volume is needed in order to move from here. If it moves from here without volume the possibility for a retrace is with high odds.
  2. Targets below for pit session (3094 3078 and 30765) are still in place.
  3. In order to skip them the upcoming pit session will require a huge and consistent gap up. That is not probable. But who knows?
  4. If price remains here up to FOMC, targets below are very probable for pit activity.
  5. Current Tokyo session is inside yesterday gb session, if upcoming gb session will open here we should see initial acceptation of yesterday gb range.
  6. But please note that yesterday gb session is formed by two separate distributions. The upper one is 3107 to 3134, while the lower one is 3071 to 3094. Consider these distributions as separate sessions. Acceptation of lower distribution zone could mean continuation down, while at the opposite, acceptation of upper distribution could mean upwards conviction (note: this is referred only to gb session upcoming activity!)
  7. Note that we are right above the very important go no go pit bracket low 31186.
  8. Edit 08:56 +1gmt: consider also the old GB-GAP-up - 2016.07.11 from 3018 to yesterday gb low at 30565, inside it we have also the multi pass old GB-GAP-down - 2016.07.05 - from 30468 to 30565. This is a very interesting zone for gb.

Have a good trading everyone.

Ubi maior minor cessat
  • #435,179
  • Jul 27, 2016 1:51am Jul 27, 2016 1:51am
Well Abe just announced today he's going to pull out the 'Tap N Go' credit card out on behalf of the Japanese people 28th July, just what they need, so instead of being in debt for the next 200 years he gonna make sure their in debt for the next 1000 years....good on ya Abe.... Pissing on future generations!!!!
Basically the order of the day now for our so called leaders who have zero idea of how to run a successful economy.

Here in Australia 10 years ago very little federal government debt now we have hundreds of billions...work that out
Don't Leave Money on the Table
  • #435,180
  • Jul 27, 2016 1:56am Jul 27, 2016 1:56am
Quoting HaLBot
Well Abe just announced today he's going to pull out the 'Tap N Go' credit card out on behalf of the Japanese people 28th July, just what they need, so instead of being in debt for the next 200 years he gonna make sure their in debt for the next 1000 years....good on ya Abe.... Pissing on future generations!!!! Basically the order of the day now for our so called leaders who have zero idea of how to run a successful economy. Here in Australia 10 years ago very little federal government debt now we have hundreds of billions...work that...
Yes obviously you know how to run a country....

Go pursuit a career in Central Banking or politics, if you are so aware of the right solutions.

For now lending is beneficial for countries like japan, because they turn a profit on their debt.
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