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Cable Update (GBPUSD)

  • #435,921
  • Aug 5, 2016 7:28am Aug 5, 2016 7:28am
Quoting Lock
{quote} Now the gb session is made of 10 periods of 30 min each. Final range of current pit session is 52 pips, last 3 periods of current pit sessions made 40 pips. So the late part of the session made the 77 % of the entire session action upwards. How could I forecast such a thing? First of all: experience(the memory of all my past errors). Secondly when a market is uncertain about direction it is very normal to expect a stalling situation during intial session periods and it is possible to imagine that only at the end of it, when finally most...
Thanks for your last reply . E
  • #435,922
  • Aug 5, 2016 7:32am Aug 5, 2016 7:32am
Quoting Sammih
Im currently short. Based on technicals, price should reject the resistance. So I say we might see over 200K #NFP {image}
over 200k
I'm high on trading, cant you tell?
  • #435,923
  • Aug 5, 2016 7:34am Aug 5, 2016 7:34am
Quoting Sammih
{quote} over 200k
nice...!!!
  • #435,924
  • Aug 5, 2016 7:38am Aug 5, 2016 7:38am
nice nfp! short in right time
  • #435,925
  • Aug 5, 2016 7:39am Aug 5, 2016 7:39am
Quoting Lock
below Curent composite low (PIT low + Sydney low) at 31055 is very weak. Major reference here is clearly the go no go level at 31185: pit bracket low. Note that current Tokyo poor low is just a pip above it: Very weak.
Quickly taken out by preUS.

Quoting Lock
On a relatively major scale, considering olso the upcoming preUS/pit US sessions, we cannot forget the 3074 very weak pit zone, (inside this zone we have 2 pit poor lows at 3078 and 30735 and one "normal" pit low at 30805) leading directly to a possible correction of the old gap up from 07.11 session high at 30145.
Eventually 3074 weak zone approached and tested by preUS. Let's see the reaction at the gap. And do not forget that these references are pit references, so "they" need to be tested by a pit session, or bypassed with a gap down.

Quoting Lock
Note also that inside this pit gap we have the old gb gap up from 07.11 starting at 3019 and right inside it the very old double pass gap down from 07.05 gb session (30465-30565) Note that yesterday pit session closed in a "short in the hole situation". It means that last activity took place below yesterday pit value putting those last traders in a dangerous position for upcoming pit session.
Let's see the upcoming pit session here. And please note that current news came from 3150 round. It is weak: carry this information forward.
Ubi maior minor cessat
  • #435,926
  • Aug 5, 2016 7:45am Aug 5, 2016 7:45am
Finally if pit session will continue with this test downwards, 29715 is the last weak ref I see below. It is the 07.12 Sydney poor low.
Ubi maior minor cessat
  • #435,927
  • Aug 5, 2016 7:59am Aug 5, 2016 7:59am
Quoting yuddy
it might gonna be just BOE vs NFP, what if the NFP goes bad, would GU recover all its lost pips, or the cut rate is stronger than any NFP bad data?
FX 101 Interest rate, news about interest rates, rumours about interest rates. True for both parts of the currency pair GBP / USD
Events that elude to changes in interest rates, like NFP.

Perhaps you should buy a book on FX trading and read it?
  • #435,928
  • Aug 5, 2016 8:00am Aug 5, 2016 8:00am
Hi everyone, I'm new to the FF forums and although I have been messing around trading part time over the last five years or so. I am now making a serious go of day trading, I can tell you I've kissed a few frogs along my journey but hopefully on the right path now. Particularly interested in GPBUSD and the majors although looking at about 20 pairs in total. Up 281 pips this week. Beginners luck? Picked up 41 pips GBPUSD NFP. Not too greedy I hope. Awaiting the next entry short.
Striving for consistency
  • #435,929
  • Aug 5, 2016 8:00am Aug 5, 2016 8:00am
Please note that 30568 is the absolute low of the weekly balance. So it is clearly a vip ref around here.
Ubi maior minor cessat
  • #435,930
  • Aug 5, 2016 8:01am Aug 5, 2016 8:01am
Quoting Lock
Finally if pit session will continue with this test downwards, 29715 is the last weak ref I see below. It is the 07.12 Sydney poor low.
The lower gap is being closed out

D.P.

P.S. Expecting 2944 - weekly POC (4 week ago)
Hunting High and Low
  • #435,931
  • Aug 5, 2016 8:07am Aug 5, 2016 8:07am
Although we are only 30 mins past NFP release - 1.3 would have some largish orders there- might bounce a bit
  • #435,932
  • Aug 5, 2016 8:07am Aug 5, 2016 8:07am
Quoting Lock
Finally if pit session will continue with this test downwards, 29715 is the last weak ref I see below. It is the 07.12 Sydney poor low.
Considering the magnitude of this move a final approaching level could also be the last composite poc at 2946 that was also a very old spike base. But there is a very omportant note to do about current price position: we are right below the multipass gb gap down from 07.05 (30465-30565). If pit session will go down more then this, Monday gb session(or an other gb session of next week) will be forced to come here again. Because a three pass gap is rarely able to resist.
Ubi maior minor cessat
  • #435,933
  • Aug 5, 2016 8:09am Aug 5, 2016 8:09am
Quoting Dr.Phoenix
{quote} The lower gap is being closed out D.P. P.S. Expecting 2944 - weekly POC (4 week ago)
Yes. Correct. I was writing this while you were posting it! You are faster then me! Best L.
Ubi maior minor cessat
  • #435,934
  • Aug 5, 2016 8:11am Aug 5, 2016 8:11am
Quoting Lock
{quote} Yes. Correct. I was writing this while you were posting it! You are faster then me! Best L.
Glad to hear we are thinking the same way.

for you

Best
D.P.

P.S. Pending buy @ 2944 and 2930 (this point is one standart deviation of the WEEKLY BALANCE)
Hunting High and Low
  • #435,935
  • Aug 5, 2016 8:26am Aug 5, 2016 8:26am
Quoting Dr.Phoenix
{quote} Glad to hear we are thinking the same way. for you Best D.P. P.S. Pending buy @ 2944 and 2930 (this point is one standart deviation of the WEEKLY BALANCE)
You really deserve this because you're really trading it, while I'm only "demoing" it. By the way, I would like to see pit going up to 30735 at least in order to re-short it from above. (if pit will do it)
Note that preUS is tagging the base of the old gb gao at 3019, at the pip.
Ubi maior minor cessat
  • #435,936
  • Aug 5, 2016 8:27am Aug 5, 2016 8:27am
Quoting Dr.Phoenix
{quote} Glad to hear we are thinking the same way. for you Best D.P. P.S. Pending buy @ 2944 and 2930 (this point is one standart deviation of the WEEKLY BALANCE)
it's your PO buy?

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH4area.png Size: 64 KB


I think not today. based from Daily range.
  • #435,937
  • Edited 8:40am Aug 5, 2016 8:30am | Edited 8:40am
Quoting bithedz
{quote} it's your PO buy? {image} I think not today. based from Daily range.
Yes. D.P.

It could be on monday for example

Best
D.P.

Quoting Lock
{quote} You really deserve this because you're really trading it, while I'm only "demoing" it. By the way, I would like to see pit going up to 30735 at least in order to re-short it from above. (if pit will do it) Note that preUS is tagging the base of the old gb gao at 3019, at the pip.
After having dropped the way we see, I hardly believe the price will go too high.
We shall see.

Best
D.P.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp3.png Size: 55 KB
Hunting High and Low
  • #435,938
  • Aug 5, 2016 8:36am Aug 5, 2016 8:36am
Quoting Dr.Phoenix
{quote} Yes. D.P. It could be on monday for example Best D.P. {quote} After having dropped the way we see, I hardly believe the price will go too high. We shall see. Best D.P.
Yes You may be right. In any case we have now a composite poor low (preUS low tagged by current Pit low, so one could sell from above when needed with some expectation of success. At least untill below this very weak new ref. Best L.
Ubi maior minor cessat
  • #435,939
  • Aug 5, 2016 8:44am Aug 5, 2016 8:44am
that's enough I think now of selling the news long was at 3028 orders at last bought position 3111 looking to 3200 if it breaks last resistance I will be keeping 3028 as stock . 2956 will be a possible , possible short scalp target if it fails
  • #435,940
  • Aug 5, 2016 8:46am Aug 5, 2016 8:46am
Quoting Lock
{quote} You really deserve this because you're really trading it, while I'm only "demoing" it. By the way, I would like to see pit going up to 30735 at least in order to re-short it from above. (if pit will do it) Note that preUS is tagging the base of the old gb gao at 3019, at the pip.
Your only demo ?
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