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Cable Update (GBPUSD)

  • #439,601
  • Edited 9:39am Sep 9, 2016 9:26am | Edited 9:39am
Quoting Lock
{quote} ... The fact here is that we have in very little space 3 poor low in a row (yes pit session, today London and current preUS). Those should be removed. But after that who knows? We have 2 liquidation pit sessions to correct above plus a huge weakness at the top of them. Let's see.

Quoting Lock
{quote} At last!!!!! Now watch out! It can go further to 3252 or retrace here. Monitor for continuation. It tagged at the pip the 09.01 pit session prominent POC.

Quoting Lock
{quote} Exactly: and what do you think is an half way back? It is in fact the mid point of a range. This is the reason why there is automatic buy. Because traders(weak hands) know that and place there their stops, active and passive (mean buy or close buy). This is why generally we have a little retracement here and then a test below it. Because if something meaningfull will happen it will below it, not at its tag.

Quoting Lock
A lot of single pips for A period...
As you see...

The story:
as written we got 3 poor low in a row and this was too much. It took out them. After that we had an impressive cluster of lows at the 3252 zone, so it was able to reach it and test it.
How it made this move down? With a sharp action without volume and with a mess of single pips. This is not the way a bigger time frame acts.
Price went at the 3252 zone where there were other weak hands with their automatic stops. It retrace a bit then went down again to test below: and below it found the stronger hands (not so strong considering the 15 of August but stronger of those who were going down in such a way.) Note in fact that B period up has a lot of volume, more than A period down.
Price at this point went up to punish all the weak hands coming down (adding madly positions to their shorts and piling on the move) and removing the weakness of the structure (too many single pips).
At this point we have 3 possibilities:

  1. stay here and balance.
  2. make an other test below 3252 (and eventually find a confirmation in order to have continuation downside).
  3. Or go upwards to start the retracement of the weak move from Tuesday high.

Ubi maior minor cessat
  • #439,602
  • Sep 9, 2016 9:30am Sep 9, 2016 9:30am
For a newbie... Not bad!
Attached Image (click to enlarge)
Click to Enlarge Name: not bad eh.png Size: 65 KB
  • #439,603
  • Sep 9, 2016 9:31am Sep 9, 2016 9:31am
3265 add short
  • #439,604
  • Sep 9, 2016 9:33am Sep 9, 2016 9:33am
Quoting Lock
{quote} {quote} {quote} {quote} As you see... The story: as written we got 3 poor low in a row and this was too much. It got them. After that we had an impressive cluster of lows at the 3252 zone, so it was able to reach it and test it. How it made this move down? With a sharp action without volume and with a mess of single pips. this is not the way a bigger time frame acts. It went at the 3252 zone where there were other weak hands with their automatic stops. It retrace a bit then went down again to test below: and below it found the stronger hands...
You should own a website to do this and get paid.

After all, 90% of members on this site are here to make money through forex.
  • #439,605
  • Sep 9, 2016 9:34am Sep 9, 2016 9:34am
3278 would be short add I think but buying the dip also
  • #439,606
  • Sep 9, 2016 9:36am Sep 9, 2016 9:36am
Quoting actionmoney
{quote} Not @ all, I write programming codes as I a computer science graduate. Not here to hold anyone responsible for my predicament; already in a lot of shit "Trading from Nigeria-where there will NEVER BE A CONSTANT POWER SUPPLY" And still I am here, taking risk and fetching $$$ legitimately. Its all left with individual conscience, and my demo account still tells me that I am doing the right thing. Too much money ain't enough money, lol and its apparent that I will be back by end of this month with positive outlook to inspire newbies. HAL indeed...
I understand your frustration M8 when trying to trade and get hit with a malicious attack on your PC screwing up your ability to make money...Just I've haven't heard of anyone else on FF having the same problem, something like that would surely get around the threads...

In a perfect world we'd all be happy and give spot on advice, but then maybe it would be boring too...I take onboard what others say here but also recognise I'm totally responsible for my own account
Don't Leave Money on the Table
  • #439,607
  • Sep 9, 2016 9:37am Sep 9, 2016 9:37am
Quoting Sammih
{quote} thats embarrasing, i meant 61.8
Was that an ext of the move feel like I am posting to myself ?
  • #439,608
  • Sep 9, 2016 9:37am Sep 9, 2016 9:37am
Quoting HaLBot
{quote} I understand your frustration M8 when trying to trade and get hit with a malicious attack on your PC screwing up your ability to make money...Just I've haven't heard of anyone else on FF having the same problem, something like that would surely get around the threads... In a perfect world we'd all be happy and give spot on advice, but then maybe it would be boring too...I take onboard what others say here but also recognise I'm totally responsible for my own account
I'm high on trading, cant you tell?
  • #439,609
  • Sep 9, 2016 9:41am Sep 9, 2016 9:41am
Quoting elbert3
{quote} Was that an ext of the move feel like I am posting to myself ?
sorry buddy, I draw fibs like this. 3250 is a significant level, 50% of the move, I expect price wont go far beyond this before going back up. I'd only turn bearish if price closed below 3200 with a 4hr candle

The way mades drew his fibs http://www.forexfactory.com/showthre...88#post9129888 show he's a bear, and I draw mine vise versa because Im a bull
Attached Image (click to enlarge)
Click to Enlarge Name: fib.png Size: 56 KB
I'm high on trading, cant you tell?
  • #439,610
  • Sep 9, 2016 9:47am Sep 9, 2016 9:47am
Quoting Lock
{quote} Did you see the reaction at the 3252 zone? It's automatic buy. Let's see if we will have confirmation below it or not. If not. All the way up. If yes, the pit gap up is a wide field down to 3137(edit) zone.
Yeah, I have come to my monitor and found everything is going its way as planned.

It is autobuy for sure. However the the IB NY is wide enough and it is lower than the yesterday's IB NY. We are at the new ground.
As you know I am in a DD. And I have bought additionally at 32700 and 32470 as expected.
Interesting whats gonna be next?

Best
D.P.
Hunting High and Low
  • #439,611
  • Sep 9, 2016 9:48am Sep 9, 2016 9:48am
Quoting actionmoney
{quote} You should own a website to do this and get paid. After all, 90% of members on this site are here to make money through forex.
And also I will not have any sort of risk!
Seriously, Thanks for your words.
Now (if I may suggest it) calm down anyone. We can all be friend here or at least be usefull one each other.
All the best, L.
Ubi maior minor cessat
  • #439,612
  • Sep 9, 2016 9:51am Sep 9, 2016 9:51am
Quoting Sammih
{quote} sorry buddy, I draw fibs like this. 3250 is a significant level, 50% of the move, I expect price wont go far beyond this before going back up. I'd only turn bearish if price closed below 3200 with a 4hr candle The way mades drew his fibs http://www.forexfactory.com/showthre...88#post9129888 show he's a bear, and I draw mine vise versa because Im a bull {image}
tbh i noticed later my fibs are vice versa (100 is supposed to be 0) but the levels are the same. I'm also a bull unless it breaks the lower 4H trendline i drew.
  • #439,613
  • Edited 10:04am Sep 9, 2016 9:51am | Edited 10:04am
Quoting Dr.Phoenix
{quote} Yeah, I have come to my monitor and found everything is going its way as planned. It is autobuy for sure. However the the IB NY is wide enough and it is lower than the yesterday's IB NY. We are at the new ground. As you know I am in a DD. And I have bought additionally at 32700 and 32470 as expected. Interesting whats gonna be next? Best D.P.

We will see. But it's friday. I will not pretend too much by the end of a week. Anyway considering the B retracement and its volume, it could also come back to the main poc at 3298 or more to the weak pre US B period high (Gb open and unchanged price at 3312 zone). I don't know.
If current C period remain inside B we could follow a possible break out from it. (obviously up or down) Best L.
Ubi maior minor cessat
  • #439,614
  • Sep 9, 2016 9:52am Sep 9, 2016 9:52am
Quoting mades
{quote} tbh i noticed later my fibs are vice versa (100 is supposed to be 0) but the levels are the same. I'm also a bull unless it breaks the lower 4H trendline i drew.
on the same wave length then
I'm high on trading, cant you tell?
  • #439,615
  • Sep 9, 2016 9:54am Sep 9, 2016 9:54am
Calling it a week my friends, its been informative as it has been productive. I'm always happy to read from everyone and to make my contribution. See you next week buddies. Lovely weekend ahead everyone
I'm high on trading, cant you tell?
  • #439,616
  • Sep 9, 2016 9:56am Sep 9, 2016 9:56am
Quoting Sammih
Calling it a week my friends, its been informative as it has been productive. I'm always happy to read from everyone and to make my contribution. See you next week buddies. Lovely weekend ahead everyone
Cheers M8...love ya charts...
Don't Leave Money on the Table
  • #439,617
  • Edited 10:06am Sep 9, 2016 9:56am | Edited 10:06am
Quoting Lock
{quote} We will see. But it's friday. I will not pretend too much by the end of a week. Anyway considering the B retracement and its volume, it could also come back to the main poc at 3298 or more to the weak pre US B period high (Gb open and unchanged price at 3312 zone). I don't know. If current C period remain inside B we could follow a possible break out from it.
I assume that we are about to fluctualte within the IB NY until the day ends.
Additionally it is interesting how price reacts at the end of the day - BBs can get in at the day end.

Best
D.P.

P.S.

A little bit later I will rearrange IB weekly for the forthcoming week. Now let us time to see how the price will be moving..
Hunting High and Low
  • #439,618
  • Sep 9, 2016 10:11am Sep 9, 2016 10:11am
Quoting Sammih
Calling it a week my friends, its been informative as it has been productive. I'm always happy to read from everyone and to make my contribution. See you next week buddies. Lovely weekend ahead everyone
Have a good weekend too!
Ubi maior minor cessat
  • #439,619
  • Sep 9, 2016 10:12am Sep 9, 2016 10:12am
Quoting Dr.Phoenix
{quote} I assume that we are about to fluctualte within the IB NY until the day ends. Additionally it is interesting how price reacts at the end of the day - BBs can get in at the day end. Best D.P. P.S. A little bit later I will rearrange IB weekly for the forthcoming week. Now let us time to see how the price will be moving..
Yes, it could be. I think I'm off. Let's see next week! Best regards, L.
Ubi maior minor cessat
  • #439,620
  • Sep 9, 2016 10:20am Sep 9, 2016 10:20am
Quoting Lock
{quote} Yes, it could be. I think I'm off. Let's see next week! Best regards, L.
anybody can please tell me how to Draw Trendline and Support and Resistance on Chart ?
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