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Cable Update (GBPUSD)

  • #435,521
  • Aug 2, 2016 4:06am Aug 2, 2016 4:06am
Quoting Lock
[...]Note also the yesterday gb little double bounce at 3240 that is as anyone now knows the gb close for June month. [...] Note also B period coming down from 3227 brexit low tagged by current D period high! 3250 was also yesterday gb high, so an other weak ref above.
3227 brexit low removed as yesterday weak double bounce at 3240 removed. Yeterday gb high weak as round number at 3250 still in place.

Quoting Lock
{quote} [...]A note that could be importat regards the double distribution of yesterday gb session. We are now right below the upper one 32125-3240 while the lower one is at 3164-3202. If we stay around the higher one we could aim at something bigger upwards, if instead we close the empty space between them and price will be accepted inside the lower one all the refs. below will be very probable. And we are at 32055 yesterday gb close.
Note that price has not been accepted inside the yesterday lower distribution. Acceptation of a certain zone of price means at least a couple of m30 bar building inside that zone. While at the opposite we have now price accepting the yesterday upper distribution. In fact we are testing now its high at 3240. For continuation up we want to see price accepting above yesterday gb upper distribution.
But we are in a rotation day without separate distributions, so, watch out! We can easily come back down again from here.
Ubi maior minor cessat
  • #435,522
  • Aug 2, 2016 4:08am Aug 2, 2016 4:08am
High number of net shorts going into the BOE meeting.
TE started 6/4/19
  • #435,523
  • Aug 2, 2016 4:18am Aug 2, 2016 4:18am
Quoting Lock
a firecracker effect to the downside.
Exactly.

I see weekness as well.

Best
D.P.

Quoting Lock
{quote} In fact we are testing now its high at 3240. For continuation up we want to see price accepting above yesterday gb upper distribution. But we are in a rotation day without separate distributions, so, watch out! We can easily come back down again from here.


D.P.
Hunting High and Low
  • #435,524
  • Aug 2, 2016 4:36am Aug 2, 2016 4:36am
Quoting Dr.Phoenix
{quote} Exactly. I see weekness as well. Best D.P. {quote} D.P.
The question here is: will current gb session preserve the clean space above early morning high at 3238? If so a possible upper distribution is forming and that could lead to a skipping of lower very weak refs. and a continuation up to the old gb gap down at 3290. If even this attempt will fail the weakness below could force market down again.

Best L.
Ubi maior minor cessat
  • #435,525
  • Aug 2, 2016 4:38am Aug 2, 2016 4:38am
I'm tipping they want to sell this from a higher position so see this going to at least 3300....in an earlier post(from yesterday) I'm tipping 3400 before a sell off..That's my opinion and if ya don't like it, speak to my Lawyer...

I'm basing that of the weekly chart, because although last weeks candle was an indecision candle it was a bullish indecision, so I see this going to 3400 at least but BOE might spoil the party before then....
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Don't Leave Money on the Table
  • #435,526
  • Aug 2, 2016 4:41am Aug 2, 2016 4:41am
GBP/USD is testing 1.3250 again. I think that a breakout above that resistance could lead to a further move to the upside towards 1.3300.
  • #435,527
  • Aug 2, 2016 4:43am Aug 2, 2016 4:43am
It would be very dangerous for any bears in the market to leave open position.I'll rather stand aside until any bearish price action
Would post here if I get any bearish entry
  • #435,528
  • Aug 2, 2016 4:44am Aug 2, 2016 4:44am
Quoting HaLBot
I'm tipping they want to sell this from a higher position so see this going to at least 3300....in an earlier post(from yesterday) I'm tipping 3400 before a sell off..That's my opinion and if ya don't like it, speak to my Lawyer...

well in this market everything could happen. Did you see that current retracement came exactly from the gb spike base of 07.14? It is weak too. So I really don't know what is going to happen. For now I'm only registering market information waiting for some opportunity to do something in this mess.
Ubi maior minor cessat
  • #435,529
  • Aug 2, 2016 4:49am Aug 2, 2016 4:49am
Quoting Lock
{quote} well in this market everything could happen. Did you see that current retracement came exactly from the gb spike base of 07.14? It is weak too. So I really don't know what is going to happen. For now I'm only registering market information waiting for some opportunity to do something in this mess.

Yeah of course, I'm not trying to dismiss your analysis, I think it's very accurate and has helped me and a lot of traders here.... I'm attempting to get inside the heads of the big players and where they'll make the most money shorting this..???
Don't Leave Money on the Table
  • #435,530
  • Aug 2, 2016 4:57am Aug 2, 2016 4:57am
Quoting HaLBot
{quote} Yeah of course, I'm not trying to dismiss your analysis, I think it's very accurate and has helped me and a lot of traders here.... I'm attempting to get inside the heads of the big players and where they'll make the most money shorting this..???

I was joking!!
Ubi maior minor cessat
  • #435,531
  • Aug 2, 2016 4:57am Aug 2, 2016 4:57am
Quoting Lock
{quote} I was joking!!
Don't Leave Money on the Table
  • #435,532
  • Aug 2, 2016 4:59am Aug 2, 2016 4:59am
Tahirs <<< sell i think it gonna be down soon and very down

i'm follow him when i'm frist play on forex he will win when he open higher lot

bye bye my bull hope
  • #435,533
  • Aug 2, 2016 5:00am Aug 2, 2016 5:00am
Quoting Lock
{quote} The question here is: will current gb session preserve the clean space above early morning high at 3238? If so a possible upper distribution is forming and that could lead to a skipping of lower very weak refs. and a continuation up to the old gb gap down at 3290. If even this attempt will fail the weakness below could force market down again. Best L.
It didn't manage to preserve the clean space. So now, with the current last failure above, even if we came down from a pretty weak ref. there is a possibility for at least a balance here waiting for preUS. Note that F period is inside E period. So watch out for a break out. If it fail in one direction the target is at least at the opposite side of the balance.
Ubi maior minor cessat
  • #435,534
  • Edited 5:29am Aug 2, 2016 5:14am | Edited 5:29am
Quoting Mayly-May
Tahirs <<< sell i think it gonna be down soon and very down i'm follow him when i'm frist play on forex he will win when he open higher lot bye bye my bull hope
I've looked at your Trade Explorer, how about closing 3232 and 3267 at 3300 for a small profit then take a little pressure of your account? You could always have 3300 as the point you close those trades but leave it open just in case theres some more buying pressure. Just an idea...

I'm looking at your take profit closing price of 1.3842 and you have to say to yourself in this environment with Cable under pressure with the fallout of Brexit, how long will it take to get back to 1.3842??? Before Brexit 600 pips to the upside could do that in two weeks, now could be 6 months...
Don't Leave Money on the Table
  • #435,535
  • Aug 2, 2016 5:37am Aug 2, 2016 5:37am
Short squeeze to 3280 area coming up.....
Don't Leave Money on the Table
  • #435,536
  • Aug 2, 2016 5:39am Aug 2, 2016 5:39am
Quoting HaLBot
{quote} I've looked at your Trade Explorer, how about closing 3232 and 3267 at 3300 for a small profit then take a little pressure of your account? You could always have 3300 as the point you close those trades but leave it open just in case theres some more buying pressure. Just an idea... I'm looking at your take profit closing price of 1.3842 and you have to say to yourself in this environment with Cable under pressure with the fallout of Brexit, how long will it take to get back to 1.3842??? Before Brexit 600 pips to the upside could do that...
thank you sir end of the day i will Headging before bank cut
  • #435,537
  • Aug 2, 2016 5:41am Aug 2, 2016 5:41am
I suppose we could be in a bearish cypher.
Sell order
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  • #435,538
  • Aug 2, 2016 5:42am Aug 2, 2016 5:42am
Quoting Mayly-May
{quote} thank you sir end of the day i will Headging before bank cut

BOE rate decision not till Thursday, actually there's a whole lot of UK data coming out, that's why they call it 'Super Thursday'...
Don't Leave Money on the Table
  • #435,539
  • Aug 2, 2016 5:57am Aug 2, 2016 5:57am
This from forexlive:

http://news.forexlive.com/!/pound-ha...horts-20160802
Don't Leave Money on the Table
  • #435,540
  • Aug 2, 2016 5:59am Aug 2, 2016 5:59am
Quoting Mayly-May
{quote} thank you sir end of the day i will Headging before bank cut

The word out there on the news wire too is that Eur/Usd will go to 1280 soon so keep an eye on any Euro shorts you got open...


It has a very nice bullish slope on multiple time frames....
Don't Leave Money on the Table
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