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Cable Update (GBPUSD)

  • #439,221
  • Sep 7, 2016 3:31am Sep 7, 2016 3:31am
Quoting Sammih
{quote} I think so, but still too early to enter short at the moment. Price seems to be quite comfortable where it is at the moment. Id wait for price to break daily pivot before shorting. Secondly, this news release is a good event to trade because its not dangerous, it moves the currency in a directional move for the rest of the day so it'll be easy to trade after its been released. I think it'll be a red figure, like -0.6%
I thought it'd be red(-0.6%), its -0.9%
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  • #439,222
  • Edited 3:44am Sep 7, 2016 3:33am | Edited 3:44am
short 3388
SL 3438
tp 3323(to be revised) Revised to 3300

Second entry when price closes below Daily Pivot Point (3392) on the 1 hr TF

Price is definitely overbought and it seems the overdue correction is taking place. I expect a small retracement probably to the 61 level at most the 50 level.
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  • #439,223
  • Sep 7, 2016 3:36am Sep 7, 2016 3:36am
Quoting Sammih
short 3388 SL 3438 tp 3323(to be revised)
same sl
  • #439,224
  • Sep 7, 2016 3:37am Sep 7, 2016 3:37am
i assume that this is just a corrective wave and then it`ll go to 1.35-1.38 as next ressistance levels. Only then we can look for short entrances.
  • #439,225
  • Sep 7, 2016 3:39am Sep 7, 2016 3:39am
Quoting alirelax
{image}


tp 1 ok , +60pip
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  • #439,226
  • Sep 7, 2016 3:47am Sep 7, 2016 3:47am
It looks like the negative news has had minimal impact? am I correct?
Striving for consistency
  • #439,227
  • Sep 7, 2016 3:49am Sep 7, 2016 3:49am
Quoting Wdfx
It looks like the negative news has had minimal impact? am I correct?

In ten minutes there is more UK news coming out and I'm guessing nothing much will happen until that comes out....

Also news that just came out wasn't all bad, bit of a mixed bag really....
Don't Leave Money on the Table
  • #439,228
  • Sep 7, 2016 3:51am Sep 7, 2016 3:51am
Quoting Sunnyland
i assume that this is just a corrective wave and then it`ll go to 1.35-1.38 as next ressistance levels. Only then we can look for short entrances.
ur correct, but depends on length of moves that you want to capture
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  • #439,229
  • Sep 7, 2016 3:53am Sep 7, 2016 3:53am
Quoting Sammih
{quote} I assume you meant 3470. What is your entry level? At the moment, don't fret yet, but you should be worried if price goes to 3450. Make sure to take profits quickly on this one, you are trading against the trend. Good luck
my entry at first is 3330 after rate go up i take a new positions about 3424 and now half of my entry (3424) is risk free and my all tp is 3336

is it good or no? do you think hit my tp? what about another news on GBP (Inflation Report Hearings) ?

with this news go up or down?

last news is as same you say!
  • #439,230
  • Sep 7, 2016 3:57am Sep 7, 2016 3:57am
Quoting Sammih
short 3388 SL 3438 tp 3323(to be revised) Revised to 3300 Second entry when price closes below Daily Pivot Point (3392) on the 1 hr TF Price is definitely overbought and it seems the overdue correction is taking place. I expect a small retracement probably to the 61 level at most the 50 level. {image}

the us index have HD+ on H4 and over sold
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  • #439,231
  • Sep 7, 2016 4:20am Sep 7, 2016 4:20am
Quoting hamidabdiyan
{quote} my entry at first is 3330 after rate go up i take a new positions about 3424 and now half of my entry (3424) is risk free and my all tp is 3336 is it good or no? do you think hit my tp? what about another news on GBP (Inflation Report Hearings) ? with this news go up or down? last news is as same you say!
I have a very good feeling about your trades, hold tight, i think your TP will be hit, 3320 is a better TP
That report might be tricky, but we will have to wait and see
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  • #439,232
  • Sep 7, 2016 4:25am Sep 7, 2016 4:25am
Quoting hamidabdiyan
{quote} the us index have HD+ on H4 and over sold {image}
Yes,yes, but beware the current strength of the Pound, might overrun your analysis. Although, as I said yesterday, today seemed a good day to short the pound, its weak across the board
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  • #439,233
  • Sep 7, 2016 4:33am Sep 7, 2016 4:33am
Quoting Sammih
{quote} I think so, but still too early to enter short at the moment. Price seems to be quite comfortable where it is at the moment. Id wait for price to break daily pivot before shorting. Secondly, this news release is a good event to trade because its not dangerous, it moves the currency in a directional move for the rest of the day so it'll be easy to trade after its been released. I think it'll be a red figure, like -0.6%
and yes it is red,hence gravity shld take over GU,Lol
  • #439,234
  • Sep 7, 2016 4:47am Sep 7, 2016 4:47am
See if shorts come into play around the 133 400 zone.
North to Big Sur On Pacific Coast Highway - Sunsrise time says short in play .. LA always rocks ..
If not then wait some more lol .. outta here
  • #439,235
  • Sep 7, 2016 5:03am Sep 7, 2016 5:03am
Quoting Lock
{quote} Obviously anyone can see the attempted monthly break out upwards from August inside month of July. The break out level is at August high (GB session high) at 33715. In order to have continuation we want price confirming above that level. So this number is extremely important today.
As you see GB retraced completely its gap and went down to test the GB August high (monthly break out level). Now all the game will be played here: we could confirm below 33715 or above. If below, the monthly break out is failed. If above we could look forward for continuation up. In any case I'm not involved in a market that leaves behind 3 poor high in a row (yes Pit session, today Tokyo and GB) Specially if one of them is made by a news.
Ubi maior minor cessat
  • #439,236
  • Sep 7, 2016 5:30am Sep 7, 2016 5:30am
Quoting Wdfx
{quote} I presume the other side of the balance is around 3424? Also do you take your initial market opening from midnight GMT of from the close of the US session at around 9:30pm GMT?
Yes it was there. This is the normal direction of a retracement when a break out fails from balance (the opposite side of that balance). But remember to not be too precise: precision kills. In this case price went up 1 pip below target and considering the upcoming news you will not risk your entire profit for 1 pip. Also in order to perform such operation you should be fast enough to enter and fast enough to esc, because you are using weak references to trade where weak operators are working, and weak operators could be easily retraced by stronger hands (exactly like today). If you want to do such trades you cannot marry them.

I consider the pit session close at 11:00 PM (+1 GMT) 1 hour before midnight.
Ubi maior minor cessat
  • #439,237
  • Sep 7, 2016 5:37am Sep 7, 2016 5:37am
we a had a previous upper trend line break, then we had two trend channel lines overshot together with a fail break out of the down trend line and of the a resistance line confirmed buy a reversal bear bar just before the news.......
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  • #439,238
  • Sep 7, 2016 5:54am Sep 7, 2016 5:54am
Quoting ZenNy
we a had a previous upper trend line break, then we had two trend channel lines overshot together with a fail break out of the down trend line and of the a resistance line confirmed buy a reversal bear bar just before the news....... {image}
now another trend line break, looking for a lower high....maybe tomorrow....done for the day.
trading is simple but is simple is not easy.
  • #439,239
  • Sep 7, 2016 6:50am Sep 7, 2016 6:50am
Buy 3370 SL 3350 TP 3470
  • #439,240
  • Sep 7, 2016 7:11am Sep 7, 2016 7:11am
next 90 minutes should determine rest of the day
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