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Cable Update (GBPUSD)

  • #435,701
  • Aug 4, 2016 1:14am Aug 4, 2016 1:14am
Oh as i said earlier... Yen ...

GU Update!
H1 just broke...
H4 TL test left to confirm direction for now..
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Trading Eternal...... Shiny & Chrome!!!!
  • #435,702
  • Aug 4, 2016 1:19am Aug 4, 2016 1:19am
Interest rate day today ...
Going for no change votes still one against ..
- as yet any thing different in the UK since Brexit. ?
Answers on a postcard ..
  • #435,703
  • Aug 4, 2016 1:24am Aug 4, 2016 1:24am
Ready to short today, plenty of things up to 1.32 which price will want to revisit. But can easily do 1.336 before.
  • #435,704
  • Aug 4, 2016 1:30am Aug 4, 2016 1:30am
What are the 10 % of the market see of the BoE action today, I wonder? charts and numbers.......​
  • #435,705
  • Aug 4, 2016 1:59am Aug 4, 2016 1:59am
GB session is going to open inside yesterday range, at the bottom of it. Right above yesterday gb gap up from 32555. This gap is the current support up to the news. Let's see if it is able to resists.
Ubi maior minor cessat
  • #435,706
  • Edited 2:13am Aug 4, 2016 2:01am | Edited 2:13am
GB session is going to open inside yesterday range, at the bottom of it. Right above yesterday gb gap up from 32555. This gap is the current support up to the news. Let's see if it is able to resists.

Note: we are currently below the weekly balance top at 33145.

Note that the 2 weekly balance top for gb session is at 32905. So gb is now exactly 2 pips above it. While 33145 is the absolute high of that balance(made by 07.18 pit session).

Current low of gb session is 1 pip above yesterday gb low, so it is weak. And current high is at 3300 round, so it is weak too.

Tokyo high at 33455 is poor high. Yesterday pit session was inside 08.02 pit session.
Ubi maior minor cessat
  • #435,707
  • Aug 4, 2016 2:09am Aug 4, 2016 2:09am
Quoting Lock
GB session is going to open inside yesterday range, at the bottom of it. Right above yesterday gb gap up from 32555. This gap is the current support up to the news. Let's see if it is able to resists. Note: we are currently below the weekly balance top at 33145. Note that the 2 weekly balance top for gb session is at 32905. So gb is now exactly 2 pips above it. While 33145 is the absolute high of that balance(made by 07.18 pit session). Current low of gb session is 1 pip above yesterday gb low, so it is weak.

Hey Lock, what do you mean by 7.18??
Don't Leave Money on the Table
  • #435,708
  • Aug 4, 2016 2:26am Aug 4, 2016 2:26am
Quoting HaLBot
{quote} Hey Lock, what do you mean by 7.18??
Hi HaLBot,
simply 18 of July.

Note that gb session went down, tested below yesterday gb low and went up again to correct 3300. Its current low is now at the same level of yesterday pit low and today Tokyo low at 32805. So it is still weak. (But supported temporary by its gap up from yesterday)
Ubi maior minor cessat
  • #435,709
  • Aug 4, 2016 2:32am Aug 4, 2016 2:32am
Current B period move up started exactly at yesterday gb open at 3302 plus round 3300. Carry this information forward if there is continuation up.

Both immediately corrected. Now gb at its hb.
Ubi maior minor cessat
  • #435,710
  • Aug 4, 2016 2:51am Aug 4, 2016 2:51am
Quoting Lock
{quote} [...]Note that gb session went down, tested below yesterday gb low and went up again to correct 3300. Its current low is now at the same level of yesterday pit low and today Tokyo low at 32805. So it is still weak. (But supported temporary by its gap up from yesterday)
Weak composite low evenutally taken out. A note about current move down: B high is at today Tokyo hb at 3313. It is not a particularly weak level, but we are before news, so watch out.
Ubi maior minor cessat
  • #435,711
  • Aug 4, 2016 3:17am Aug 4, 2016 3:17am
I noticed G/U's monthly is in low-low area.
  • #435,712
  • Aug 4, 2016 3:19am Aug 4, 2016 3:19am
I saw forecast is cut rates but if they dont have net exports this action will worst their situation, don't you? GBP lower, imports more expensive...
Try don't lose pants never...
  • #435,713
  • Aug 4, 2016 3:20am Aug 4, 2016 3:20am
Quoting Lock
{quote} Weak composite low evenutally taken out. A note about current move down: B high is at today Tokyo hb at 3313. It is not a particularly weak level, but we are before news, so watch out.

Good morning, are we going anyway UP today. The price is somehow confusing.
  • #435,714
  • Aug 4, 2016 3:23am Aug 4, 2016 3:23am
Current month is inside July. So it is now in balance. Weekly we are in a balance. GB session was 6 sessions one timeframing higher up to yesterday. THis is the first time in the last 7 days that a gb session is able to test below a previous low, so GB session is now technically in balance too. (to verify) Inside GB session we are now in a full balance. C is inside B period. And we are in the middle of the current session and in the middle of the current period..
Ubi maior minor cessat
  • #435,715
  • Aug 4, 2016 3:31am Aug 4, 2016 3:31am
Quoting Lock
Current month is inside July. So it is now in balance. Weekly we are in a balance. GB session was 6 sessions one timeframing higher up to yesterday. THis is the first time in the last 7 days that a gb session is able to test below a previous low, so GB session is now technically in balance too. (to verify) Inside GB session we are now in a full balance. C is inside B period. And we are in the middle of the current session and in the middle of the current period..
You know I'm getting a warm fuzzy feeling inside knowing Cable is in Balance but what does that all mean???.........
Don't Leave Money on the Table
  • #435,716
  • Aug 4, 2016 3:39am Aug 4, 2016 3:39am
Quoting actionmoney
{quote} Good morning, are we going anyway UP today. The price is somehow confusing.

Hard to pick a direction at the moment, I was thinking price may drop to 3250 area before the UK news but right now 3280 is holding up well....
Don't Leave Money on the Table
  • #435,717
  • Edited 3:55am Aug 4, 2016 3:41am | Edited 3:55am
Quoting HaLBot
{quote} OK so what does that all mean???
It is the description of what market generated information are telling us. A sort of general recap. Sometime treders tend to forecast more and observe less. I did this mistake for a long preriod of time. Now I try to observe and wait, trying also to preserve my psychological capital.


For instance, today, in my initial posts I made a description of very narrow range possible references, in order to underline that this market is currently totally controlled by weak hands. Without that a trader could remain confused by the apparent inconsistency of this price action. Instead if you know who is your competitor, who is ruling the current market, you may expect the magnitude of the upcoming price movements avoiding any further wild expectation. And, specially, avoiding a lot of sensless positions opened up or down trying to find a direction that is not part of the current game.

At the same time, now D is inside C that is inside B, so a possible breakout could happen. But is this market strong enough for a continuation of this possible breakout? By now all the gb session periods went up and down open price: this is a clear sign of uncertainty and lack of conviction in any direction.
Ubi maior minor cessat
  • #435,718
  • Aug 4, 2016 3:51am Aug 4, 2016 3:51am
3266*
  • #435,719
  • Aug 4, 2016 3:51am Aug 4, 2016 3:51am
Quoting Lock
{quote} It is the description of what market generated information are telling us. A sort of general recap. Sometime treders tend to forecast more and observe less. I did this mistake for a long preriod of time. Now I try to observe and wait, trying also to preserve my psychological capital. For instance, today, in my initial posts I made a description of very narrow range possible references, in order to underline that this market is currently totally controlled by weak hands. Without that a trader could remain confused by the apparent inconsistency...
Copy that, Cheers.....
Don't Leave Money on the Table
  • #435,720
  • Aug 4, 2016 3:53am Aug 4, 2016 3:53am
Talking about weak hands controlling the market, a lot of the time during big news events Professional traders are on the sidelines so you do get these sudden erratic moves up and down.....
Don't Leave Money on the Table
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