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Cable Update (GBPUSD)

  • #439,321
  • Sep 8, 2016 2:54am Sep 8, 2016 2:54am
Quoting Dr.Phoenix
{quote} Hi, Lock Guys, we have had a breakthrough of the Asia high confirmed (?). The voulme is high enough. Let us see where it closes. Best D.P.
Right Dr. Phoenix. At the same time as you see major timeframes are not involved at all in this move because their action will be never stopped at yesterday gb unchanged. If those who sold there have been able to stop this move, even for a little time, this means that this move is made by the same froces from downside. And then it is weak even if it goes further upwards. I mean it is a dangerous environment specially before news. So if you are fast enogh and you do not marry with a pos this trade is perfectly licit. But watch out!
Best L.
Ubi maior minor cessat
  • #439,322
  • Sep 8, 2016 3:03am Sep 8, 2016 3:03am
3357 would have been a perfect sell?

But I'm heavily invested already
I'm high on trading, cant you tell?
  • #439,323
  • Sep 8, 2016 3:06am Sep 8, 2016 3:06am
...as you see.

Now the last 2 hours were benchmarks. They established a range. The firs one to the down side (low at Tokyo poor low 33285) the second one at current GB high (yesterday unchanged) at 33635. So any further move will test one of these two refs for sure. Because this is their purpose. In the mean wile we can also stay inside them. Note anyway that GB was not able to stay above yes unchanged so its value is currently building lower than yesterday value. Also GB was not able to stay above overnight (Tokyo high)
Ubi maior minor cessat
  • #439,324
  • Sep 8, 2016 3:07am Sep 8, 2016 3:07am
Quoting Lock
{quote} Right Dr. Phoenix. At the same time as you see major timeframes are not involved at all in this move because their action will be never stopped at yesterday gb unchanged. If those who sold there have been able to stop this move, even for a little time, this means that this move is made by the same froces from downside. And then it is weak even if it goes further upwards. I mean it is a dangerous environment specially before news. So if you are fast enogh and you do not marry with a pos this trade is perfectly licit. But watch out! Best L....
Thanks, you seem to be right. The market is week. I see it right now. The questions is where to jump in..

Best
D.P.
Hunting High and Low
  • #439,325
  • Sep 8, 2016 3:08am Sep 8, 2016 3:08am
Quoting Sammih
3357 would have been a perfect sell? But I'm heavily invested already

That's got to be quote of the week...
Don't Leave Money on the Table
  • #439,326
  • Sep 8, 2016 3:31am Sep 8, 2016 3:31am
Quoting Dr.Phoenix
{quote} Thanks, you seem to be right. The market is week. I see it right now. The questions is where to jump in.. Best D.P.
I do not think it will be an easy task. I didn't see any edge for now. We have huge weakness below and above and we are right below a very important major monthly ref (33715) right before a big news in an extraordinary narrow range. So it could be a mess: removing weakness below and above during news and then establish a possible stronger direction. It will have (edit) space for a fast double move of more then 100 pips in a matter of seconds during news. So it is very hard to take part of it. And extremely risky to take part of it before news.

Best L.
Ubi maior minor cessat
  • #439,327
  • Sep 8, 2016 3:33am Sep 8, 2016 3:33am
Now going to test benchmark top (starting from gb hb!)
Ubi maior minor cessat
  • #439,328
  • Sep 8, 2016 3:38am Sep 8, 2016 3:38am
Quoting Lock
Now going to test benchmark top (starting from gb hb!)

You see? First attempt 2 pips above it and back down. Let's see if it will make a second attempt.
Ubi maior minor cessat
  • #439,329
  • Sep 8, 2016 3:42am Sep 8, 2016 3:42am
Quoting Lock
Now going to test benchmark top (starting from gb hb!)

And here you are back to the gb hb!
Ubi maior minor cessat
  • #439,330
  • Sep 8, 2016 3:52am Sep 8, 2016 3:52am
Here is one of my favorite trade set ups; if price has been in a squeeze upto 9am GMT or 12pm GMT, I trade the breakout. Today, its a tight range, 34 pips, I expect a break of in excess of 100 pips (averange range of GBPUSD is around 130) but I'm still a bear today.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH134.png Size: 35 KB
I'm high on trading, cant you tell?
  • #439,331
  • Sep 8, 2016 3:55am Sep 8, 2016 3:55am
possible move now.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh4.png Size: 22 KB
  • #439,332
  • Sep 8, 2016 3:56am Sep 8, 2016 3:56am
Quoting Lock
{quote} I do not think it will be an easy task. I didn't see any edge for now. We have huge weakness below and above and we are right below a very important major monthly ref (33715) right before a big news in an extraordinary narrow range. So it could be a mess: removing weakness below and above during news and then establish a possible stronger direction. It will have (edit) space for a fast double move of more then 100 pips in a matter of seconds during news. So it is very hard to take part of it. And extremely risky to take part of it...

That is what I am thinking of...
That is why I am setting my orders at the reference points of high volume.

Best
D.P.
Hunting High and Low
  • #439,333
  • Sep 8, 2016 3:56am Sep 8, 2016 3:56am
Quoting Sammih
Here is one of my favorite trade set ups; if price has been in a squeeze upto 9am GMT or 12pm GMT, I trade the breakout. Today, its a tight range, 34 pips, I expect a break of in excess of 100 pips (averange range of GBPUSD is around 130) but I'm still a bear today. {image}
I dont post scalps here anymore, cos no sense. only trades with charts.
  • #439,334
  • Sep 8, 2016 4:00am Sep 8, 2016 4:00am
Added a short at 3360 and modified TPs and SLs
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1trade3.png Size: 36 KB
I'm high on trading, cant you tell?
  • #439,335
  • Sep 8, 2016 4:13am Sep 8, 2016 4:13am
Quoting Sammih
Added a short at 3360 and modified TPs and SLs {image}
yes very good trade. i am short too 3360
  • #439,336
  • Sep 8, 2016 4:16am Sep 8, 2016 4:16am
Quoting Sammih
Added a short at 3360 and modified TPs and SLs {image}
3444 my sl. cos news could spike.
  • #439,337
  • Edited 5:28am Sep 8, 2016 4:21am | Edited 5:28am
Quoting Sammih
3357 would have been a perfect sell? But I'm heavily invested already
and its right there on the spot,but is the dive gonna really run good?
  • #439,338
  • Sep 8, 2016 4:36am Sep 8, 2016 4:36am
Quoting pointlessfor
{quote} 3444 my sl. cos news could spike.
dont let the news worry you sir
I'm high on trading, cant you tell?
  • #439,339
  • Sep 8, 2016 4:57am Sep 8, 2016 4:57am
Quoting Sammih
{quote} dont let the news worry you sir
this HS very nice. and you see 3250 is very good price where proportion ends.
  • #439,340
  • Sep 8, 2016 5:38am Sep 8, 2016 5:38am
...the best Action will be to wait the Market data, and act after...
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