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Cable Update (GBPUSD)

  • #436,681
  • Aug 15, 2016 9:34am Aug 15, 2016 9:34am
Quoting Don96
long 1.2873 sl 1.2866
apparently I don't have the credentials to edit my own post...

entry is 1.38713 sl 6 pips
  • #436,682
  • Aug 15, 2016 9:40am Aug 15, 2016 9:40am
Quoting HaLBot
{quote} I always wonder how it all actually works....no one has yet given me a really good answer, or one that makes sense. An example: You see on occasions small pips movements aimed at reaching a certain level then quickly retracing.... Are they pushing it a few pips higher in order to stop hunt, are they pushing it higher in order to execute a sell order, are they pushing it a few pips higher so as to TP..... So who does the pushing and how much money is required for those small moves that quickly retrace, is it a combined effort or the work...
the key word to look for is "order flow"
  • #436,683
  • Aug 15, 2016 9:44am Aug 15, 2016 9:44am
Quoting mades
{quote} the key word to look for is "order flow"
No these are deliberate moves nothing to do with order flows, outside of main trading hours such as late in the US session.....but I will study up more on order flows....
Don't Leave Money on the Table
  • #436,684
  • Aug 15, 2016 9:48am Aug 15, 2016 9:48am
Quoting HaLBot
{quote} I always wonder how it all actually works....no one has yet given me a really good answer, or one that makes sense. An example: You see on occasions small pips movements aimed at reaching a certain level then quickly retracing.... Are they pushing it a few pips higher in order to stop hunt, are they pushing it higher in order to execute a sell order, are they pushing it a few pips higher so as to TP..... So who does the pushing and how much money is required for those small moves that quickly retrace, is it a combined effort or the work...
An example using the AUD.

Noted by the RBA it takes around a 200 million$ trade to make a noticeable affect on the price in normal market conditions. On thin liquidity it takes around 50 million. The pound Im sure would be at least 10 times that amount.

No such thing as stop hunts only buyers and sellers.
20 Pips a day keeps centerlink away
  • #436,685
  • Aug 15, 2016 9:51am Aug 15, 2016 9:51am
Quoting HaLBot
{quote} No these are deliberate moves nothing to do with order flows, outside of main trading hours such as late in the US session.....but I will study up more on order flows....
Well order flow is what moves the market, technically. For example if you buy 10k lots (1 yard) you get filled at 1.30 1.3005 1.3006 1.3010 and you move the market by 10 pips. That of course means that there were no other sell limit orders to fill between 1.3 and 1.3010 (thin liquidity) and you ate them all with 10k order.
  • #436,686
  • Aug 15, 2016 9:54am Aug 15, 2016 9:54am
Quoting mades
{quote} Well order flow is what moves the market, technically. For example if you buy 10k lots (1 yard) you get filled at 1.30 1.3005 1.3006 1.3010 and you move the market by 10 pips. That of course means that there were no other limit orders to fill between 1.3 and 1.3010 (thin liquidity) and you ate them all with 10k order.
Well there you go, so late friday afternoon US session someone lays down a yard to gain 3 or 4 pips then quickly removes it of the table.....
Don't Leave Money on the Table
  • #436,687
  • Aug 15, 2016 9:55am Aug 15, 2016 9:55am
Quoting mades
{quote} Well order flow is what moves the market, technically.....
I am with you on this. Check this gentleman's video - no business relationship with him though:
Inserted Video


KP
Do your homework, follow the footprints of smart money
  • #436,688
  • Aug 15, 2016 10:01am Aug 15, 2016 10:01am
Quoting HaLBot
{quote} Well there you go, so late friday afternoon US session someone lays down a yard to gain 3 or 4 pips then quickly removes it of the table.....
Well tbh i guess with 1 yard you could move more than few pips in late session. Also for price to come back, the same mechanism applies. Remember that fat finger in june (i think) when gbpusd spiked 200 pips during asian session?
  • #436,689
  • Aug 15, 2016 10:01am Aug 15, 2016 10:01am
Quoting KeenPips
{quote} I am with you on this. Check this gentleman's video - no business relationship with him though: https://www.youtube.com/watch?v=1iwg7o0pbjw KP

Cheers Keenpips, great video to watch....
Don't Leave Money on the Table
  • #436,690
  • Aug 15, 2016 10:02am Aug 15, 2016 10:02am
Quoting HaLBot
{quote} Cheers Keenpips, great video to watch....
Thanks, m8. Lol

KP
Do your homework, follow the footprints of smart money
  • #436,691
  • Aug 15, 2016 10:03am Aug 15, 2016 10:03am
Quoting mades
{quote} Well tbh i guess with 1 yard you could move more than few pips in late session. Also for price to come back, the same mechanism applies. Remember that fat finger in june (i think) when gbpusd spiked 200 pips during asian session?



Ahhhhhh yes the famous fat finger, you know if I was a big player in the forex world I'd be laying down 'Fat Fingers' all the time, my keyboard skills are crap....
Don't Leave Money on the Table
  • #436,692
  • Aug 15, 2016 10:06am Aug 15, 2016 10:06am
This conversation is good because maybe I'm asking questions other are too afraid to ask, thinking they'll look stupid if they don't know this stuff...
Don't Leave Money on the Table
  • #436,693
  • Aug 15, 2016 10:17am Aug 15, 2016 10:17am
Quoting Wdfx
{quote} Hey dean1star are you not finished for the day yet? ... working overtime
Hey WDF - you got that right lol .. i call it the rip tide effect today - the more you trade the further from the shoreline you are taken ..
  • #436,694
  • Aug 15, 2016 10:34am Aug 15, 2016 10:34am
Quoting HaLBot
This conversation is good because maybe I'm asking questions other are too afraid to ask, thinking they'll look stupid if they don't know this stuff...
One of the interesting aspects of order flow is that as price revisits certain key level multiple times the chance of break increases (because you spend all the limit orders at that level). That's what continuation triangles are about, or what it was about today at 1.29 few hours back. That's also why i'm hesitating to go long because i don't see the clear refusal of certain price lvl (supply overcomes demand) to turn the market around.
  • #436,695
  • Aug 15, 2016 10:35am Aug 15, 2016 10:35am
Quoting Wdfx
Back in Short. I should have stayed in earlier. Would have been another 35 pips up !
Guess someone's gone for another Curry ..
  • #436,696
  • Aug 15, 2016 10:41am Aug 15, 2016 10:41am
Quoting mades
{quote} One of the interesting aspects of order flow is that as price revisits certain key level multiple times the chance of break increases (because you spend all the limit orders at that level). That's what continuation triangles are about, or what it was about today at 1.29 few hours back. That's also why i'm hesitating to go long because i don't see the clear refusal of certain price lvl (supply overcomes demand) to turn the market around.
Cheers....

Too late here for me to reply....good trading all...
Don't Leave Money on the Table
  • #436,697
  • Aug 15, 2016 10:58am Aug 15, 2016 10:58am
continuously testing support.. i hope this is the last time...
  • #436,698
  • Aug 15, 2016 11:01am Aug 15, 2016 11:01am
Quoting Don96
{quote} apparently I don't have the credentials to edit my own post... entry is 1.38713 sl 6 pips
stopped out.. I hope this thing drops lower...
  • #436,699
  • Aug 15, 2016 11:18am Aug 15, 2016 11:18am
Quoting Don96
{quote} stopped out.. I hope this thing drops lower...
Like being in quicksand today .. not that i know but for sure one can imagine.
  • #436,700
  • Aug 15, 2016 11:27am Aug 15, 2016 11:27am
Quoting Don96
{quote} stopped out.. I hope this thing drops lower...
I guess we should just wait which support zone will be refused. I do have 1.2864 as long term support on my chart but i think it needs more than that to reverse the market (as it also coincidences with todays daily S1). 1.2873 is also POC.
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