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Cable Update (GBPUSD)

  • #439,101
  • Sep 6, 2016 5:42am Sep 6, 2016 5:42am
Quoting actionmoney
{quote} Long risk.... hoping to hear how this goes @3:00 pm WAT. Today's market is pregnant with surprise, which will be delivered @ 03:00 PM WAT
...what will be at 3 PM?...
  • #439,102
  • Sep 6, 2016 5:43am Sep 6, 2016 5:43am
Quoting salmani-one
{quote} ...what will be at 3 PM?...
...market News? US-Data?...
  • #439,103
  • Edited 6:18am Sep 6, 2016 5:47am | Edited 6:18am
Please note that current GB profile is building right inside yesterday GB value. As yesterday Pit session value was inside Friday pit session value. This clearly underline the possibility of a break out (up or down, considering the situation). Current market is waiting for 4:00 PM (+1 GMT) pit news, so the action could occur at that time. Anyway I will not be surprised if for some reason the movement will anticipate that news in order to create a gap (up or down) for upcoming pit session. Note also that USD index is in a 3 days balance (today is inside yesterday range that is inside Friday range): so GBPUSD will be clearly related to the current USDX stall situation and the relative possible break out up or down in that composite index.

On a very minor scale we have current G m30 period inside bar of previous period (it is the first time in this GB session).

Above

  1. We have a cluster m30 highs (3 period highs, same level) at today Tokyo close 33387.
  2. 3346 we have a TAG of the first GB hb by period B.
  3. We have a Back to back GB high with today Tokyo high at 33517.

Below

  1. We have a huge m30 Tokyo cluster at 33185 (6 periods lows).
  2. We have a poor low for today Tokyo low at 33016.

A final note: in current daily profile, price is eventually managing to let migrate the POC in a higher position. This could mean that GB can make a spike from here with its last 2 periods..

Ubi maior minor cessat
  • #439,104
  • Sep 6, 2016 6:33am Sep 6, 2016 6:33am
3348 second short
  • #439,105
  • Sep 6, 2016 6:35am Sep 6, 2016 6:35am
Quoting Devart
Hello Guys, I try to be as clear as possible because there are so many info here ... First, I am definitely bearish on this pattern. For now I am waiting to close a bull position at 1.3350, maybe the cross can move until 1.3370 but I thing it is difficult. Beyond 1.3370 it is full full of big resistences and it is full of harmonic patterns that indicated a down movement. I have right now positioned a sell limit order --> you do not see it in my pictures {image} {image} {image} {image} {image} {image} {image}
TP reached.
Now let's wait until ISM
  • #439,106
  • Sep 6, 2016 6:37am Sep 6, 2016 6:37am
Quoting Lock
....

  1. We have a cluster m30 highs (3 period highs, same level) at today Tokyo close 33387.
  2. 3346 we have a TAG of the first GB hb by period B.
  3. We have a Back to back GB high with today Tokyo high at 33517.

A final note: in current daily profile, price is eventually managing to let migrate the POC in a higher position. This could mean that GB can make a spike from here with its last 2 periods..

and here you are with the spike...and

Quoting Lock
Current market is waiting for 4:00 PM (+1 GMT) pit news, so the action could occur at that time. Anyway I will not be surprised if for some reason the movement will anticipate that news in order to create a gap (up or down) for upcoming pit session.

Let's see if it could make or not a gap for upcoming preUS session and eventually for pit session. Yes pre US session high is at 33432, so in order to have a gap we have to open above it.

...obviously watch out for the structure we are leaving below...
Ubi maior minor cessat
  • #439,107
  • Sep 6, 2016 6:52am Sep 6, 2016 6:52am
Quoting Lock
{quote} and here you are with the spike...and {quote} Let's see if it could make or not a gap for upcoming preUS session and eventually for pit session. Yes pre US session high is at 33432, so in order to have a gap we have to open above it. ...obviously watch out for the structure we are leaving below...
Hi Lock, forgive my ignorance but do you think that this spike to 3355/60 is likely to continue higher or should it top out around there?
Striving for consistency
  • #439,108
  • Sep 6, 2016 6:59am Sep 6, 2016 6:59am
Quoting actionmoney
{quote} Long risk.... hoping to hear how this goes @3:00 pm WAT. Today's market is pregnant with surprise, which will be delivered @ 03:00 PM WAT
I don't trade news, I trade my set ups. I think the whole news thing plays into the nature of the market. I know people who trade news and are successful, I tried it and failed. I'm better off doing what I know best; Charting.
I'm high on trading, cant you tell?
  • #439,109
  • Sep 6, 2016 7:02am Sep 6, 2016 7:02am
Quoting salmani-one
{quote} ...market News? US-Data?...
US data. Which will highly impact the market price.
  • #439,110
  • Sep 6, 2016 7:03am Sep 6, 2016 7:03am
Quoting Sammih
The average daily range for cable is around 130 pips. So, here is an idea, current days range, just over 50. If price breaks out of that range, enter with Tp at about 70 pips {image}
I quote you but I have the down view.
  • #439,111
  • Sep 6, 2016 7:03am Sep 6, 2016 7:03am
Quoting Wdfx
{quote} Hi Lock, forgive my ignorance but do you think that this spike to 3355/60 is likely to continue higher or should it top out around there?

The spike is only related to GB action. Now we are in preUS. There is a gap for preUS but is very narrow. Pre US is tagging down a round number so is weak. Watch out and monitor for continuation if you are buying. For continuation upwards you want to see price confirming ABOVE friday pit session high.
Ubi maior minor cessat
  • #439,112
  • Sep 6, 2016 7:05am Sep 6, 2016 7:05am
Quoting Sammih
{quote} I don't trade news, I trade my set ups. I think the whole news thing plays into the nature of the market. I know people who trade news and are successful, I tried it and failed. I'm better off doing what I know best; Charting.
In any case only a reading above 59 would trouble my position
I'm high on trading, cant you tell?
  • #439,113
  • Sep 6, 2016 7:07am Sep 6, 2016 7:07am
There is a shooting star candlestick on the daily time-frame below the resistance around 1.3350 - 1.3370, so we might see a retracement soon.
  • #439,114
  • Sep 6, 2016 7:09am Sep 6, 2016 7:09am
Quoting Lock
{quote} The spike is only related to GB action. Now we are in preUS. There is a gap for preUS but is very narrow. Pre US is tagging down a round number so is weak. Watch out and monitor for continuation if you are buying. For continuation upwards you want to see price confirming ABOVE friday pit session high.
Thanks Lock
Striving for consistency
  • #439,115
  • Sep 6, 2016 7:10am Sep 6, 2016 7:10am
Quoting pointlessfor
3348 second short
Pointless where is ur TP and SL
  • #439,116
  • Sep 6, 2016 7:17am Sep 6, 2016 7:17am
Quoting Sammih
{quote} In any case only a reading above 59 would trouble my position
Hello,
I have not undestood what is your view. Red OR Blue ?

Regards
  • #439,117
  • Sep 6, 2016 7:21am Sep 6, 2016 7:21am
Quoting Wdfx
{quote} Thanks Lock
You're welcome.
Ubi maior minor cessat
  • #439,118
  • Sep 6, 2016 7:24am Sep 6, 2016 7:24am
Quoting Devart
{quote} Hello, I have not undestood what is your view. Red OR Blue ? Regards
Its possible to trade both... Red when its coming down and blue as it is moving up.

Red+Blue, Red or Blue... Just make profit and build or more positive equity greater than balance
  • #439,119
  • Sep 6, 2016 7:28am Sep 6, 2016 7:28am
Quoting actionmoney
{quote} US data. Which will highly impact the market price.
thanx!
  • #439,120
  • Sep 6, 2016 7:36am Sep 6, 2016 7:36am
...my opinion is: gbp will go first down and then go up... after us-data
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