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Cable Update (GBPUSD)

  • #436,181
  • Aug 10, 2016 10:10am Aug 10, 2016 10:10am
I'm going with big long here aiming for 1.3077 . Smaller rsi's 15min and down need a rise. most likely some support in this area. Stops @ 1.2953
Loser trying to become a winner!
  • #436,182
  • Edited 10:36am Aug 10, 2016 10:25am | Edited 10:36am
Quoting Lock
Hello everyone! 1300 is weak.
Taken out and overnight inventory 100% long totally corrected (current pit session retraced all the overnight activity above yesterday unchanged at 3000. Pit session just tested below yesterday unchanged)

Note(GB): 3019-3023 double pass gb gap could be an interesting zone for gb session activity next days starting from tomorrow. Note also that we are currently below today gb spike up attempt at 3068. And gb today session made also a poor high* during that attempt upwards at 3094.

*this poor high is currently "protected" by the 08.05 GB weekend gap down.

NOTE (current Pit): 3016 is weak as current D period high tagging exactly yesterday Pit high.
Ubi maior minor cessat
  • #436,183
  • Aug 10, 2016 10:25am Aug 10, 2016 10:25am
Quoting Aleksbuk
{image} Pound did one more down movement yesterday, as we was waited. And now this rollback which was at night is normal thing for new down move, and I think we will see movement to 1.29 today.
Good call .. I think you may be right .. Please don't be discouraged by those who immediately contradict what you think, and believe in yourself .. It looks like it's on it's way ..
  • #436,184
  • Aug 10, 2016 10:40am Aug 10, 2016 10:40am
Went short again at 1.3021 with SL 1.3036, TP 1.2975. trailing stop now at 13009. In profit hope to pickup another bunch of pips before end of play today.
Striving for consistency
  • #436,185
  • Aug 10, 2016 10:42am Aug 10, 2016 10:42am
Quoting Lock
{quote} Taken out and overnight inventory 100% long totally corrected (current pit session retraced all the overnight activity above yesterday unchanged at 3000. Pit session just tested below yesterday unchanged) Note(GB): 3019-3023 double pass gb gap could be an interesting zone for gb session activity next days starting from tomorrow. Note also that we are currently below today gb spike up attempt at 3068. And gb today session made also a poor high* during that attempt upwards at 3094. *this poor high is currently "protected" by the 08.05 GB weekend...
Hi Lock,

Can you explain what you mean by a pit sessions and Sessions A, B, C, D

Thanks in advance

drabz
  • #436,186
  • Aug 10, 2016 10:50am Aug 10, 2016 10:50am
Quoting drabz
{quote} Hi Lock, Can you explain what you mean by a pit sessions and Sessions A, B, C, D Thanks in advance drabz
Hi drabz,
A, B, etc. are the m30 periods of any session (Sydney, Tokyo, GB, preUS and Pit US sessions)
Pit is only the Pit session starting at 15:30 +1GMT and ending at 23:00 +1GMT.

It is the way market profile can help us to organize market information. About market profile you could start with the handbook: if you like search it on google.

Have a nice trading.
Ubi maior minor cessat
  • #436,187
  • Aug 10, 2016 10:53am Aug 10, 2016 10:53am
I'm off again. See you later or tomorrow.
Ubi maior minor cessat
  • #436,188
  • Aug 10, 2016 10:54am Aug 10, 2016 10:54am
Quoting Lock
{quote} Taken out and overnight inventory 100% long totally corrected (current pit session retraced all the overnight activity above yesterday unchanged at 3000. Pit session just tested below yesterday unchanged) Note(GB): 3019-3023 double pass gb gap could be an interesting zone for gb session activity next days starting from tomorrow. Note also that we are currently below today gb spike up attempt at 3068. And gb today session made also a poor high* during that attempt upwards at 3094. *this poor high is currently "protected" by the 08.05 GB weekend...
Hi Lock, sounds like your the man. I'm a relatively new trader. Trading patterns, channels and price action and also looking at a little bit of news. I've discarded most of the indicators apart from FIBS and I now seem to be getting there. I would love to know what you are talking about in terms of pit session etc. I'm always willing to learn. Can you point me in the right direction re where I can read about this stuff?
Striving for consistency
  • #436,189
  • Aug 10, 2016 1:45pm Aug 10, 2016 1:45pm
The asset is flat now. I’ll set pending orders nearby the upper bound and bottom line and will see which one is gonna work.

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  • #436,190
  • Aug 10, 2016 2:20pm Aug 10, 2016 2:20pm
Cool - Head and Shoulders on a lower time frame..
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  • #436,191
  • Aug 10, 2016 2:59pm Aug 10, 2016 2:59pm
course
Attached Image
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #436,192
  • Aug 10, 2016 3:14pm Aug 10, 2016 3:14pm
cable is a tough call just now I'm going to assume range ,if the low went this month that would be very negative
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #436,193
  • Aug 10, 2016 6:10pm Aug 10, 2016 6:10pm
GBP ready for another leg lower. Double top formed on 1H tf. Will likely go to 1.28 at least now.
  • #436,194
  • Aug 10, 2016 11:13pm Aug 10, 2016 11:13pm
Beautifull activity on this pair .

Attached Image (click to enlarge)
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Money moves the market, not an indicator.
  • #436,195
  • Aug 10, 2016 11:46pm Aug 10, 2016 11:46pm
bear flag on H4, ready to fall
  • #436,196
  • Aug 11, 2016 12:08am Aug 11, 2016 12:08am
Guys, don't you think GU wants to test 1.31 first?
  • #436,197
  • Aug 11, 2016 12:56am Aug 11, 2016 12:56am
1.3025 become strong support for the bear, i cant see that 1.31, make new low break 1.2795 first before any major correction
  • #436,198
  • Aug 11, 2016 1:30am Aug 11, 2016 1:30am
buy at 1.30000 sl 1.29500 target 1.31700 , 1.32700 , 1.33700
  • #436,199
  • Aug 11, 2016 2:15am Aug 11, 2016 2:15am
Ranging between 1.3000 and 1.3030. Don't see any immediate news on the horizon to go long or short although sentiment is still projecting lower longer term. Time to scalp a few pips or wait for the break either way. Currency will be driven by US news this afternoon.
Striving for consistency
  • #436,200
  • Aug 11, 2016 2:27am Aug 11, 2016 2:27am
This is by far the most predictable move of this summer. Stop going long guys and start riding the train...
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