all I said is be careful with fundi to you from memory ,i don't care if you take know notice ,if you think I have the slightest clue why today happened ...{quote} {image}
Cable Update (GBPUSD)
- #439,642
- Sep 9, 2016 4:05pm Sep 9, 2016 4:05pm
- Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts
On-site guru & also FF member's' psychiatrist, when not drinking tea
- #439,643
- Sep 9, 2016 5:05pm Sep 9, 2016 5:05pm
- Joined Jun 2015 | Status: Trader | 14,961 Posts
Beware of robber banks (RB), bad advisors. 
- #439,648
- Sep 10, 2016 6:08am Sep 10, 2016 6:08am
- Joined Mar 2012 | Status: turning probability into profit | 1,550 Posts
Hunting High and Low
- #439,649
- Sep 10, 2016 6:55am Sep 10, 2016 6:55am
- Joined Apr 2011 | Status: Trader | 2,421 Posts
Tells a story for sure - the two main options (some might say there are more), however to continue South we could expect an upwards move.
Staying short for the next few days too see. Have numerous short positions still open ..
Staying short for the next few days too see. Have numerous short positions still open ..
- #439,650
- Sep 10, 2016 7:32am Sep 10, 2016 7:32am
- Joined Apr 2011 | Status: Trader | 2,421 Posts
{quote} I trust you are well Dean? I've had another poor week. I need to get back to my trading strategy. I'm fa**ying around on this forum and have started to looses money. Time for me to rethink where I am going and seek my own counsel I think.
Filming today its the first day 1 of 7 so out of the loop all of next week but will check on PM'S..
- #439,651
- Sep 10, 2016 8:19am Sep 10, 2016 8:19am
- Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts
On-site guru & also FF member's' psychiatrist, when not drinking tea
- #439,652
- Sep 10, 2016 8:20am Sep 10, 2016 8:20am
- Joined Mar 2012 | Status: turning probability into profit | 1,550 Posts
Hunting High and Low
- #439,653
- Sep 10, 2016 9:08am Sep 10, 2016 9:08am
- Joined Sep 2015 | Status: ob-la-di, ob-la-da, life goes on... | 4,499 Posts
Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
- #439,655
- Sep 10, 2016 7:29pm Sep 10, 2016 7:29pm
{quote} If i can help you out then send me a PM WD - Filming today its the first day 1 of 7 so out of the loop all of next week but will check on PM'S..
Striving for consistency
- #439,657
- Edited 2:41pm Sep 11, 2016 1:21pm | Edited 2:41pm
- Joined Mar 2012 | Status: turning probability into profit | 1,550 Posts
Hunting High and Low
- #439,658
- Edited 5:23pm Sep 11, 2016 5:03pm | Edited 5:23pm
- Joined Apr 2012 | Status: Trader | 8,327 Posts
MONDAY PRE OPENING REPORT
Following a top down perspective I'll post here some chart, starting with a monthly one, in order to prepare at least 3 different plan for the upcoming price action.
Monthly
August was "inside bar" of July. September attempted a breakout from August. So there is clearly a balance situation, where the first attempted breakout upwards failed. I wrote "first" because we could have more then one attempt in order to establish a definitive failure. If the failure will be confirmed the natural target is the opposite side of the balance: id est the low of August (15 of August Pit session poor low)
Weekly
We are currently in a trend upwards confirmed by the onetimeframing price action (second period didn't take out the low of the previous period, as the third period didn't take out the second period's low and so on, up to this week).
If the 1 time framing higher will be stopped we could entry a balance environment. Price generally does not go from bull to bear or bear to bull in a V shape. It generally goes from bull to balance, then to bear or to bull, or from bear to balance, then to bear or to bull. So in this case a weekly balance could eventually lead, considering the situation, to a definitive monthly breakout failure or success.
Daily
Price is in a down trend action (1 timeframing lower)
Considering the situation we could have three possibilities: 
Following a top down perspective I'll post here some chart, starting with a monthly one, in order to prepare at least 3 different plan for the upcoming price action.
Monthly
August was "inside bar" of July. September attempted a breakout from August. So there is clearly a balance situation, where the first attempted breakout upwards failed. I wrote "first" because we could have more then one attempt in order to establish a definitive failure. If the failure will be confirmed the natural target is the opposite side of the balance: id est the low of August (15 of August Pit session poor low)
Weekly
We are currently in a trend upwards confirmed by the onetimeframing price action (second period didn't take out the low of the previous period, as the third period didn't take out the second period's low and so on, up to this week).
If the 1 time framing higher will be stopped we could entry a balance environment. Price generally does not go from bull to bear or bear to bull in a V shape. It generally goes from bull to balance, then to bear or to bull, or from bear to balance, then to bear or to bull. So in this case a weekly balance could eventually lead, considering the situation, to a definitive monthly breakout failure or success.
Daily
Price is in a down trend action (1 timeframing lower)
Considering the situation we could have three possibilities:
- If the down move was only a liquidation of the movement up to Tuesday high (as the "b" profile shapes seems to indicate) we could have a full retracement upwards in order to correct this weak short inventory and to remove the very weak references at the top of it. In this case the "old" pit gap up should work as support for this possible retracement.
- If instead the one timeframing down is something more serious we could see price continuing down in order to remove all the weak references under the pit gap up. This require more volume, because the gap is a form of excess, meaning that something lead price to skip this zone of price. Now, this "something" could be only "emotion" or short covering and in this case the gap could offer little support (It could be retraced at the second attempt for instance).
- Price could also remain here for some time, balancing a bit before to get more conviction in one of the 2 possible directions. For instance, waiting for the big news of Thursday.
See other consideration on charts.
Ubi maior minor cessat
