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Cable Update (GBPUSD)

  • #435,301
  • Jul 28, 2016 3:58am Jul 28, 2016 3:58am
Quoting Lock
if continuation above we have: the old GB-GAP-down - 2016.07.15 from 32915 to 3339 as a first possible zone of interest. We are now testing the lowest gb low of June at 32138* and above we have the final gb low of June at 32397*. *We we need to stay above them for a continuation upwards. Very narrow range for this gb session: Watch out for a breakout in any direction. (with more odds to the up side but in these cases the rule is "go with the break out no matter what and then monitor for continuation")
Initial Balance of the London session is mostly expanding lower than VWAP of the current day. Moreover, volumes on bars UP are decreasing. I'd prefer to think of going down as mentioned earlier.

There is one thing, disturbing me; I have daily VWMA below current prices - it might support them and bounce them up.

Best
D.P.
Hunting High and Low
  • #435,302
  • Jul 28, 2016 3:59am Jul 28, 2016 3:59am
for that USD strenght. i agree. at least hoping for it

Quoting iamawaited
{quote} Thanks. i am still around.That GU PA yesterday mutilated my chart so i see no directon on cable except for a little sell on M30 if cable heads towards 1.324X. but i am looking for NZD weakness today. USD strength is coming soon too. {quote} LOLLL
  • #435,303
  • Jul 28, 2016 3:59am Jul 28, 2016 3:59am
Quoting HaLBot
{quote} Yes I agree lack of conviction ATM to go higher...I did mention the Option Expiry today for GBP/USD at 3200 New York cut could be keeping price around this area, I just don't know enough about Vanilla Options to comment any further...

As I said earlier I bought in at 31926 and sold at 32106 for 18 Pips so a good start to the trading session, want to add more later...
Don't Leave Money on the Table
  • #435,304
  • Jul 28, 2016 4:02am Jul 28, 2016 4:02am
Quoting Dr.Phoenix
{quote} Initial Balance of the London session is mostly expanding lower than VWAP of the current day. Moreover, volumes on bars UP are decreasing. I'd prefer to think of going down as mentioned earlier. There is one thing, disturbing me; I have daily VWMA below current prices - it might support them and bounce them up. Best D.P.
I noticed them too on my 100 and 200 VWMA. (note that I do not care about indicators of any kind but volume and mid price intended as half back of a particular number of periods) Now I'm shorting it to close the gb gap up but I'm ready for any tricky reaction here. Considering also the gb poor high. And now 3198 gb open is weak. If it will go down seriously from here skipping what we have above, possible targets are down to the old double pass GB-GAP-down - 2016.07.05 - and the low of the gb gap up at 3018.
But before we want to see current gap up retraced completely.
K. Regards
Ubi maior minor cessat
  • #435,305
  • Jul 28, 2016 4:13am Jul 28, 2016 4:13am
Now testing overnight low at 31645: we want to stay below it for continuation down. Othewise it will come back up to the opposite side of the balance. Note part of the gap up is still in place.
Ubi maior minor cessat
  • #435,306
  • Jul 28, 2016 4:18am Jul 28, 2016 4:18am
I show you a thing about eurGBP

... Looking at long period, we have a 12345abc formation completed.
The abc it seems a running correction, the bull trend seems strong.
I put a buy order just up the resistence of the triangle.

Regards
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  • #435,307
  • Jul 28, 2016 4:26am Jul 28, 2016 4:26am
Quoting Devart
I show you a thing about eurGBP ... Looking at long period, we have a 12345abc formation completed. The abc it seems a running correction, the bull trend seems strong. I put a buy order just up the resistence of the triangle. Regards {image} {image} {image}
I see. I'm not over eurgbp right now so I don't know the situation of it considering my references. I hope you'll fine with it. Best regards.
Ubi maior minor cessat
  • #435,308
  • Jul 28, 2016 4:34am Jul 28, 2016 4:34am
Quoting Lock
{quote} I see. I'm not over eurgbp right now so I don't know the situation of it considering my references. I hope you'll fine with it. Best regards.
We will see.
GbpUsd and EurGbp are flat. There is no one in this market.
Why I dunno....
  • #435,309
  • Jul 28, 2016 4:56am Jul 28, 2016 4:56am
Quoting Devart
{quote} We will see. GbpUsd and EurGbp are flat. There is no one in this market. Why I dunno....

Well all the buying action was at the last hour of Asian session and first hour of Euro session, if price doesn't fall from todays lows then there will be a pickup later on IMHO...
Don't Leave Money on the Table
  • #435,310
  • Jul 28, 2016 5:13am Jul 28, 2016 5:13am
Another thing to keep in mind is were coming up to end of month forex money flows.....
Don't Leave Money on the Table
  • #435,311
  • Jul 28, 2016 5:14am Jul 28, 2016 5:14am
Quoting Lock
{quote} I noticed them too on my 100 and 200 VWMA. (note that I do not care about indicators of any kind but volume and mid price intended as half back of a particular number of periods) Now I'm shorting it to close the gb gap up but I'm ready for any tricky reaction here. Considering also the gb poor high. And now 3198 gb open is weak. If it will go down seriously from here skipping what we have above, possible targets are down to the old double pass GB-GAP-down - 2016.07.05 - and the low of the gb gap up at 3018. But before we want to see current...
Sure. now I have shorted at 3227 (at B/E), T/P is being considered at 3130 (VPOC of yesterday's).

For more, I am thinking of being retraced at 3112 UP, but your scenario (sharp downmove) might be as well.

Best
D.P.
Hunting High and Low
  • #435,312
  • Jul 28, 2016 5:16am Jul 28, 2016 5:16am
Quoting Lock
Now testing overnight low at 31645: we want to stay below it for continuation down. Othewise it will come back up to the opposite side of the balance. Note part of the gap up is still in place.
gb up and down overnight low at 31645, trying to close its gap up. Now with a cluster poor low. G is now inside bar of F m30 period as F is inside bar of E period. So a breakout from here is possible. I don't like where we come from, specially for that F period high at half back(at 3187 edit). It's a tricky day again. I'm now still short from 3177, stop above 3182 that is a minor valley for the full composite profile. I don't like this market at all.
Ubi maior minor cessat
  • #435,313
  • Jul 28, 2016 5:19am Jul 28, 2016 5:19am
Quoting Dr.Phoenix
{quote} Sure. now I have shorted at 3227 (at B/E), T/P is being considered at 3130 (VPOC of yesterday's). For more, I am thinking of being retraced at 3112 UP, but your scenario (sharp downmove) might be as well. Best D.P.
I was not so sure about anything today so my short is not placed in a good position as yours. In my case only a good move down could make me partially happy. Let's see. Best L.
Ubi maior minor cessat
  • #435,314
  • Jul 28, 2016 5:33am Jul 28, 2016 5:33am
£18 billion power plant ? More good news
  • #435,315
  • Jul 28, 2016 5:37am Jul 28, 2016 5:37am
Quoting elbert3
18 billion power plant ? More good news
In Somerset, right?

update: now if gb poc will move down here we may experience a spike down in the last 2 periods I and J. In any case I will scale out some at gap bottom 3146 (if we finally manage to go down there!)
Ubi maior minor cessat
  • #435,316
  • Jul 28, 2016 5:51am Jul 28, 2016 5:51am
Will look to long @ 1.314x
  • #435,317
  • Jul 28, 2016 5:52am Jul 28, 2016 5:52am
Quoting Lock
{quote} In Somerset, right? update: now if gb poc will move down here we may experience a spike down in the last 2 periods I and J. In any case I will scale out some at gap bottom 3146 (if we finally manage to go down there!)
not expecting it to be this low mmmmm
  • #435,318
  • Jul 28, 2016 5:53am Jul 28, 2016 5:53am
Quoting Lock
{quote} In Somerset, right? update: now if gb poc will move down here we may experience a spike down in the last 2 periods I and J. In any case I will scale out some at gap bottom 3146 (if we finally manage to go down there!)
At last, gap up removed!

Now to see continuation to the down side we want to remain below 3146, around major poc 3134.
Ubi maior minor cessat
  • #435,319
  • Jul 28, 2016 5:54am Jul 28, 2016 5:54am
Quoting fxtrader18
Will look to long @ 1.314x
I think it's too early, the pair will likely reach 1.3100 first.
  • #435,320
  • Jul 28, 2016 5:57am Jul 28, 2016 5:57am
Quoting Lock
{quote} In Somerset, right? update: now if gb poc will move down here we may experience a spike down in the last 2 periods I and J. In any case I will scale out some at gap bottom 3146 (if we finally manage to go down there!)
China to chip in 33% investment . Just waiting for it to be signed off . According to this mornings bbc news
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