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Cable Update (GBPUSD)

  • #435,621
  • Aug 3, 2016 3:18am Aug 3, 2016 3:18am
Quoting actionmoney
{quote} Sir, what is the open price?

gb session open price at 3302. B m30 period of current gb session tagged it and then went up.
Ubi maior minor cessat
  • #435,622
  • Aug 3, 2016 3:23am Aug 3, 2016 3:23am
Quoting Lock
{quote} gb session open price at 3302. B m30 period of current gb session tagged it and then went up.
Gbp/usd at 3333 now is this a good sign or we may have a drastic fall. According to yesterday's prediction we have NORTH till Thursday and I'm somehow skeptical about this North thing.
  • #435,623
  • Aug 3, 2016 3:24am Aug 3, 2016 3:24am
If you are buying and your structural stops are below Tokyo (As it should be) You may think to scale out some before news. It may go upwards immediately (gap down to close and Sydney high at 3355 poor high etc.) but it could also retrace some to correct below. I'm not suggesting anyone to do that if this is not part of your risk menagement.
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  • #435,624
  • Aug 3, 2016 3:29am Aug 3, 2016 3:29am
Quoting actionmoney
{quote} Gbp/usd at 3333 now is this a good sign or we may have a drastic fall. According to yesterday's prediction we have NORTH till Thursday and I'm somehow skeptical about this North thing.
I don't know. Take the market a piece at a time.
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  • #435,625
  • Aug 3, 2016 3:36am Aug 3, 2016 3:36am
Quoting Lock
So, gb opened with a gap higher as said and started immediately to retrace some of it. It went down below overnight low (Tokyo low at 3293) and is now testing the possibility to remain below it or not. If not, all the way back up to the opposite side of Tokyo at 33405. (closing the old gb gap down) If instead it will continue below Tokyo low all the gb gap up is at risk and after that I can only see a full retracement of the week balance down to 3074 zone and more.
Test below Tokyo low failed, then gb retraced all the Tokyo range and old gb gap down up to 33405. Now let's see if it want to continue higher immediately or if it want to fill with volume the old gap space. If it will continue right now, above we have Sydney poor high at 3355. Note that period D started from current half back at 3312 and more than this, it started with a news reaction. Carry this inf....

(I'm flat right now, I closed my long because I'm too tired and I cannot manage a position without all my strenght. I'm not saying to follow what I've done because it is not supported by technical reasons but only by psychological personal condition) In any case considering the situatio, a scaling out here is not technically wrong even if you want to remain in.
Ubi maior minor cessat
  • #435,626
  • Aug 3, 2016 3:44am Aug 3, 2016 3:44am
Quoting actionmoney
{quote} Gbp/usd at 3333 now is this a good sign or we may have a drastic fall. According to yesterday's prediction we have NORTH till Thursday and I'm somehow skeptical about this North thing.
Hey Action....

If we break above 3365 were heading north...
Attached Image (click to enlarge)
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  • #435,627
  • Aug 3, 2016 4:23am Aug 3, 2016 4:23am
Attached Image (click to enlarge)
Click to Enlarge Name: jh.png Size: 33 KB
this is what I c from usd and gbp index
  • #435,628
  • Aug 3, 2016 4:30am Aug 3, 2016 4:30am
Quoting Lock
{quote} Test below Tokyo low failed, then gb retraced all the Tokyo range and old gb gap down up to 33405. Now let's see if it want to continue higher immediately or if it want to fill with volume the old gap space. If it will continue right now, above we have Sydney poor high at 3355. Note that period D started from current half back at 3312 and more than this, it started with a news reaction. Carry this inf.... (I'm flat right now, I closed my long because I'm too tired and I cannot manage a position without all my strenght. I'm not saying to...
133 360 was my close position interesting how they bought back most of asia before the news .. looking for clues
Looked at that move and said - time to close from the Longs at 133 x 3 trades .. so nice pips done for the day
  • #435,629
  • Aug 3, 2016 4:31am Aug 3, 2016 4:31am
Be great if Cable touches 3300 again before heading back up....
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  • #435,630
  • Aug 3, 2016 4:35am Aug 3, 2016 4:35am
Quoting dean1star
{quote} 133 360 was my close position interesting how they bought back most of asia before the news .. looking for clues Looked at that move and said - time to close from the Longs at 133 x 3 trades .. so nice pips done for the day
Yep, nice trading Dean1Star....
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  • #435,631
  • Aug 3, 2016 4:36am Aug 3, 2016 4:36am
Quoting HaLBot
{quote} Yep, nice trading Dean1Star....
Hey Hal - Even my Broker liked the move so much they only took half the usual slippage ..
  • #435,632
  • Aug 3, 2016 4:39am Aug 3, 2016 4:39am
Cable is looking for new sweet highs... Might Drive on the present potential GJY power!!!
Attached Image (click to enlarge)
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Trading Eternal...... Shiny & Chrome!!!!
  • #435,633
  • Aug 3, 2016 4:39am Aug 3, 2016 4:39am
Quoting dean1star
{quote} Hey Hal - Even my Broker liked the move so much they only took half the usual slippage ..

hahahahahaha.....That's very funny....only half a pound of flesh this time...
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  • #435,634
  • Aug 3, 2016 4:39am Aug 3, 2016 4:39am
Quoting HaLBot
{quote} Hey Action.... If we break above 3365 were heading north... {image}
Sir, how certain are you about this and can you please give me detailed analysis of your indicators? I will be glad for your kindness; for me to learn more about how this indicator work.

  • #435,635
  • Aug 3, 2016 4:43am Aug 3, 2016 4:43am
Quoting yuddy
{quote} .................................................. is this the beginning of the rocket launch???
well....... i am observing!!!!
Trading Eternal...... Shiny & Chrome!!!!
  • #435,636
  • Aug 3, 2016 4:52am Aug 3, 2016 4:52am
Quoting actionmoney
{quote} Sir, how certain are you about this and can you please give me detailed analysis of your indicators? I will be glad for your kindness; for me to learn more about how this indicator work.

Well it's been almost 3 weeks since price was in this region and price stalled yesterday at 3364 around 16 hours ago, therefore any push above that will mean more buyers will jump in at the same time that sellers will panic and close positions.....
So if there is a strong push heading towards 3365 expect a short squeeze and price will jump to 3400 and could get buyers really excited and push to the 3450 region or beyond...
Other scenario is price will gradually creep upwards and then suddenly jump 30 pips to the 3400 region...

This is what could happen as long as buyers continue to enter the market because you could make a whole lot more money shorting from 3450 region than say 3150 region if on Super Thursday the market decides to sell of the Pound....
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  • #435,637
  • Aug 3, 2016 5:04am Aug 3, 2016 5:04am
Bottom of the Brexit Candle, not including wick is 3650 and if markets like what they see on Super Thursday I could expect it would reach that level if were above 3400 on thursday....
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  • #435,638
  • Aug 3, 2016 5:09am Aug 3, 2016 5:09am
Quoting HaLBot
Bottom of the Brexit Candle, not including wick is 3650 and if markets like what they see on Super Thursday I could expect it would reach that level if were above 3400 on thursday....
BRAVO Its really making a lot more sense now that I am learning from the bests.

North it is; and I am already pilling pips presently.
  • #435,639
  • Aug 3, 2016 5:17am Aug 3, 2016 5:17am
Quoting actionmoney
{quote} BRAVO Its really making a lot more sense now that I am learning from the bests. North it is; and I am already pilling pips presently.

Be careful there, you trade your own account and your solely responsible for it no matter what anyone says is going to happen in the market place....

Also there are guys here on Forex factory that have way way way more knowledge than I do....
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  • #435,640
  • Aug 3, 2016 5:21am Aug 3, 2016 5:21am
Quoting HaLBot
{quote} Be careful there, you trade your own account and your solely responsible for it no matter what anyone says is going to happen in the market place.... Also there are guys here on Forex factory that have way way way more knowledge than I do....

Price could also fail from here right now....
Don't Leave Money on the Table
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