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Cable Update (GBPUSD)

  • #436,281
  • Aug 11, 2016 9:08am Aug 11, 2016 9:08am
Quoting Lock
{quote} I didn't consider the very weak high at 3060 level: us pit high 08.10 tagging us pit high 08.08. This is an important level too. Currently up and down open price: lack of conviction. And very narrow range preUS+Pit. 3097 Tokyo high tagging friday pit high is an other weak ref. While current B low is weak starting at hb 29755. Very weak market.
hb corrected. Now pit high is poor and weak tagging also preUS high. This m30 cluster is protected only by current pit gap down.

And now also poor low. Extraordinary weak market.
Ubi maior minor cessat
  • #436,282
  • Aug 11, 2016 9:11am Aug 11, 2016 9:11am
Quoting sanvulture
{quote} go to the 15m tf, add the 50 ema line.. when the price touches the line, its a sell.. but dont forget to use SL.. Green pips to all, SK.
Even when 50 EMA slopes upwards?

KP
Do your homework, follow the footprints of smart money
  • #436,283
  • Aug 11, 2016 9:19am Aug 11, 2016 9:19am
Quoting Wdfx
{quote} I had a look at "Market Profile" on Google and You Tube last night. - Interesting, may take me a bit of time to get my head around it though. Thanks for the pointer.
You're welcome. It's a long path but as you wrote, an interesting one.
Ubi maior minor cessat
  • #436,284
  • Aug 11, 2016 9:22am Aug 11, 2016 9:22am
Quoting pointlessfor
{quote} wrong. 3020 first
lol .. sense your struggling with those pips again Joker ..
  • #436,285
  • Aug 11, 2016 9:29am Aug 11, 2016 9:29am
Pit session 16 pips range, poor high(also weak) and poor low(also weak as today preUS open tagged). It could break up or down from here. Or it could be a nothing day, Gap down still resisting.
Ubi maior minor cessat
  • #436,286
  • Aug 11, 2016 9:34am Aug 11, 2016 9:34am
level of interest again back , price trying to break 1.2950 & hold for the low again but looking for signals for bounce if possible with breaks/ primary signals at 1.3018/93 or 1.3174. take care . fontu
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDDaily.png Size: 31 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #436,287
  • Aug 11, 2016 9:34am Aug 11, 2016 9:34am
Quoting KeenPips
{quote} Even when 50 EMA slopes upwards? KP
Hey man, i'm no expert.. i only added that indi a week back, and have been watching since.. its a good S/R level.. but dont expect those levels to hold during news and such events.. it was just a suggestion..

as for ur question though, when it slopes up, gotta wait and see if price continues up.. at that point, 50ema will act as support, and we can buy from there.. this is MA basics, i believe u already know..

its kinda a short term scalping idea.. thats how i see it for now..

aside from that, i also want to say that, try to use the mid values of the daily S/R levels(calculated thru traditional formula).. price seem to respect it more than the actual DS1 and DR1 and other actual daily S/R levels.. this, i have been watching a couple of weeks..
anyway, these are newbie ideas of mine and dont forget to use SL..

Green pips to all,
SK.
Dont trade like me..
  • #436,288
  • Aug 11, 2016 9:39am Aug 11, 2016 9:39am
Really choppy market in a super tight range. Lots of gaps on the 1 minute chart which have to be filled every time. Still it looks weak enough for GBPUSD to break down again. GBPUSD has now broken S1 Pivot point as well.
  • #436,289
  • Aug 11, 2016 9:40am Aug 11, 2016 9:40am
Quoting sanvulture
{quote} Hey man, i'm no expert.. i only added that indi a week back, and have been watching since.. its a good S/R level.. but dont expect those levels to hold during news and such events.. it was just a suggestion.. as for ur question though, when it slopes up, gotta wait and see if price continues up.. at that point, 50ema will act as support, and we can buy from there.. this is MA basics, i believe u already know.. ... Green pips to all, SK.
SK, that's the point I was trying to point out - that you don't sell when the 50 EMA slopes upwards, rather you look for a buying opportunity; that way you will not be giving a wrong advice. Greens.

KP
Do your homework, follow the footprints of smart money
  • #436,290
  • Aug 11, 2016 9:44am Aug 11, 2016 9:44am
Quoting dean1star
{quote} lol .. sense your struggling with those pips again Joker ..
I have a spare abacus for anyone needing more than 10 fingers
Striving for consistency
  • #436,291
  • Aug 11, 2016 9:44am Aug 11, 2016 9:44am
Quoting Lock
Pit session 16 pips range, poor high(also weak) and poor low(also weak as today preUS open tagged). It could break up or down from here. Or it could be a nothing day, Gap down still resisting.
Now it looks like we are in an attempted break down. For continuation downwards, we want to see as soon as possible price going below weak preUS low at 2956. Plus we want to see C confirming below AB range. If not, all the way back to correct current poor high, retracing the gap.
Ubi maior minor cessat
  • #436,292
  • Aug 11, 2016 9:49am Aug 11, 2016 9:49am
Quoting Lock
{quote} Now it looks like we are in an attempted break down. For continuation downwards, we want to see as soon as possible price going below weak preUS low at 2956. Plus we want to see C confirming below AB range. If not, all the way back to correct current poor high, retracing the gap.
Hi Lock, what software do you use?
Striving for consistency
  • #436,293
  • Aug 11, 2016 9:49am Aug 11, 2016 9:49am
Quoting KeenPips
{quote} SK, that's the point I was trying to point out - that you don't sell when the 50 EMA slopes upwards, rather you look for a buying opportunity; that way you will not be giving a wrong advice. Greens. KP
Thanks man.. i dont usually give out suggestions in the thread, bcoz i know i'm a newbie myself and didnt want anyone to take my suggestion blindly..
but today i did, bcoz i wanted experienced traders to criticize me.. that way, i'll know whether i'm right or wrong and i can learn..
Thanks for replying..
Dont trade like me..
  • #436,294
  • Aug 11, 2016 9:52am Aug 11, 2016 9:52am
Quoting sanvulture
{quote} Thanks man.. i dont usually give out suggestions in the thread, bcoz i know i'm a newbie myself and didnt want anyone to take my suggestion blindly.. but today i did, bcoz i wanted experienced traders to criticize me.. that way, i'll know whether i'm right or wrong and i can learn.. Thanks for replying..
SK, we are all here to learn and share lol.

KP
Do your homework, follow the footprints of smart money
  • #436,295
  • Aug 11, 2016 9:57am Aug 11, 2016 9:57am
Quoting Wdfx
{quote} Hi Lock, what software do you use?
Mt4 with a simple market profile tool. I used for sometime windotrader blue. That is a special software fully dedicated to market profile.
Ubi maior minor cessat
  • #436,296
  • Aug 11, 2016 10:06am Aug 11, 2016 10:06am
Quoting Lock
{quote} Now it looks like we are in an attempted break down. For continuation downwards, we want to see as soon as possible price going below weak preUS low at 2956. Plus we want to see C confirming below AB range. If not, all the way back to correct current poor high, retracing the gap.
2956 weak preUS eventually tagged. Now weaker than before. But it is an extremely weak market so I suggest anyone to watch out.
Ubi maior minor cessat
  • #436,297
  • Aug 11, 2016 10:27am Aug 11, 2016 10:27am
it bounced many times at pit half back 20705. Very very weak. And below we got a weak low as written. Rarely narrow range for this us action (starting from preUS), only 29 pips. Also current E period starting from preUS open: an other weak ref above. Ruling reason: 2956. For now.
Ubi maior minor cessat
  • #436,298
  • Aug 11, 2016 10:29am Aug 11, 2016 10:29am
price going to 3020 minimum
  • #436,299
  • Aug 11, 2016 10:30am Aug 11, 2016 10:30am
Quoting Lock
{quote} Mt4 with a simple market profile tool. I used for sometime windotrader blue. That is a special software fully dedicated to market profile.
Thanks I use MT4 will investigate when I undersatnd
Striving for consistency
  • #436,300
  • Aug 11, 2016 10:38am Aug 11, 2016 10:38am
Through 2960 lets see if it keeps going through 2950
Striving for consistency
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