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Cable Update (GBPUSD)

  • #443,221
  • Edited 7:35am Oct 8, 2016 7:09am | Edited 7:35am
analysing chart patterns after a news algo driven few seconds flash crash...

bloomberg:
"It looks like it was a algorithm-driven flash crash triggered by a Financial Times article based on French President Hollandes speech on Brexit, said Angus Nicholson, a markets analyst in Melbourne at IG Ltd. Given low volumes in the Asian session, it would have forced other algorithms to join in and magnify the fall."

heres everything you need to understand how flash crashes works:
Inserted Video
  • #443,222
  • Oct 8, 2016 8:40am Oct 8, 2016 8:40am
some charts(brokers) show 1.20 and some charts 1.13 ...what was really bottom of that crash?
  • #443,223
  • Oct 8, 2016 9:13am Oct 8, 2016 9:13am
Quoting ruma29
some charts(brokers) show 1.20 and some charts 1.13 ...what was really bottom of that crash?
there is no real price it depends on what your broker offers you.
  • #443,224
  • Edited 2:27pm Oct 8, 2016 12:04pm | Edited 2:27pm
I've updated the 6 month chart ,

d1 is not a pin due to close below previous ,tho pin doesn't have to be positive either ,beside's it dose't need a form of any kind when we talk super size
Been talking about the location easy to see here ,so long wick at the bottom of overall multi year structure

As discussed its a complete one off ,if its bearish then id suggest fundamental details not known just yet as to why some kind of wild card,
no worthy news event created it
"Flash crash: Pound plummets six per cent but no one knows why However, it is still not clear what prompted Asian markets to move so much. While some analysts said the drop was a result of negative stories around Brexit others said it was because traders made mistakes and entered a wrong number"

As pointed out prior andoseg2 the prior swing has caused bullish problem despite an open gap above that
While we talk wicks the lowest one I took the box from looks super strong to break part of a bullish tweezer set up
Blue line was respect to the pip ,always note exact the people that made that extreme move happen are not looking 5 min charts for targets
The beauty of really high TF is the reduced points of reference handy for overall picture and numbers of intrest


Quoting Bones
Hi H , yea I went into week bullish ,prior to that bearish for some time ,only really huge fall into that location ,longer term questionable clearly downtrend within a range what were looking at is large ,fresh ,pretty supply higher high TF I would note though 13500 is a previous swing jan 2009 {quote} {image}
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #443,225
  • Oct 8, 2016 1:36pm Oct 8, 2016 1:36pm
Hi long time no see hope you all rich guy on friday
  • #443,226
  • Oct 8, 2016 3:10pm Oct 8, 2016 3:10pm
--
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  • #443,227
  • Oct 9, 2016 4:44pm Oct 9, 2016 4:44pm
I hold a bearish disposition on cable. However, with the market at 61.8 % Fib retracement of the GBP crash during the Asian session of Friday October 7, 2016, the doji candle formed as the last candlestick on the timeframe is a cue to wait for further price action. Should you be interested in details of the technical analyses on cable and a few other pairs I am tracking, check
weekly technical outlook.

KP
Do your homework, follow the footprints of smart money
  • #443,228
  • Oct 9, 2016 8:37pm Oct 9, 2016 8:37pm
Here is an interesting article about the endowment effect, a reason why you might be holding onto losing trades and I'm including myself in the 'You' part.....

http://education.forexlive.com/!/the...emies-20161009
Don't Leave Money on the Table
  • #443,229
  • Oct 9, 2016 9:18pm Oct 9, 2016 9:18pm
Quoting yique
The price will probably start quickly retracing back to the 1.2000 level as the sentiment is now massively bearish with many more sell orders being added. After it hits the 1.2000 level i think it will slowly stagger it's way back up 1.2600 & wait for the election results...but who knows ???
This is what I'm looking for. Fading into a fat short for a retest of the lows.
  • #443,230
  • Oct 9, 2016 11:44pm Oct 9, 2016 11:44pm
my chart doesn't fill back to 1984, was it tested enough or does it need to test again, or maybe break it?
big money makes big moves and then hides during small money chasing.
  • #443,231
  • Oct 10, 2016 2:01am Oct 10, 2016 2:01am
sell and sell.add more sell.
gbp drop down very fast.
150 pip target.
good luck.
joine me mql5.........
  • #443,232
  • Oct 10, 2016 2:48am Oct 10, 2016 2:48am
Quoting iran_trader
sell and sell.add more sell. gbp drop down very fast. 150 pip target. good luck.
May be ,not that easy & fast for sure . yes few days should take lows for decision next.may follow my gold analysis & chart & decisions,more or less . Take care , fontu

http://www.forexfactory.com/showthre...38#post9188438
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #443,233
  • Edited 3:36am Oct 10, 2016 3:12am | Edited 3:36am
Very good industrial production figures out of Italy.....and a good Sentix index so should give some bullish bias to Euro with Cable tracking Euro higher this UK session....possibly...LOL
Don't Leave Money on the Table
  • #443,234
  • Oct 10, 2016 4:15am Oct 10, 2016 4:15am
UK Brexit Minister David Davis to speak at 1.30 p.m London time today...
Don't Leave Money on the Table
  • #443,235
  • Oct 10, 2016 5:03am Oct 10, 2016 5:03am
Hello All,

it's a while I am following this forum and disccution here, I saw so many experts since I am a bit new in forex, what do you think of below status shall I keep it on hold till the price goes up or I just close them all ?

Thanks
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  • #443,236
  • Oct 10, 2016 5:09am Oct 10, 2016 5:09am
Quoting cspip
{quote} For a long time I knew it'd go down to 1.2050......
Quoting dean1star
{quote} The Cruel reality is that is was probably needed - a new firm physical low there before you - seen and not referenced as a 35 year low in history. Or a reference too we are now in un charted waters .. Harsh yes, but thats life personally i think it was planned the upper elite in the system new about it and if you look at the end of the day where is it now 124 200. Its great to blame algos, and fat fingers freddy but untill proven otherwise i am sticking with it was set up and known to a few. Prove me wrong but hey look we got a low that...
No, really........ I was aiming for that price ~1.2050

Check this post from 2 years ago :-

Quoting cspip
{quote} Though I'm short till 1.2764.........or 1.2050..........around 2017 - 2018

That was Aug 2014, after that post it never looked back and kept dropping. Back then there was no Brexit, the Scottish Referendum hadn't even taken place yet. Everyone was still bumming over the Greek economy......(And notice that 1.2764 has become a recent major resistance...)

That is from 1.6780 in Aug 2014 to 1.2030 in Sep 2016.......... I was out by just 20 pips and so close to the time frame.

Total drop, 4,730 pips, .........must be the best ever trade........(again, cuz i gave the target and rough time estimate)

.
  • #443,237
  • Oct 10, 2016 5:27am Oct 10, 2016 5:27am
short 2403
SL 2453
TP 2313
I'm high on trading, cant you tell?
  • #443,238
  • Oct 10, 2016 5:47am Oct 10, 2016 5:47am
Quoting HaLBot
UK Brexit Minister David Davis to speak at 1.30 p.m London time today...
Yeah.. hes going to announce a new simple 3 step government strategy for Brexit..

1. Safety catch OFF
3. Aim carefully at Foot.
3. Pull Trigger.

ROFL
  • #443,239
  • Oct 10, 2016 5:57am Oct 10, 2016 5:57am
Hi Sammih,
Very nice


short 2403
SL 2453
TP 2313
  • #443,240
  • Oct 10, 2016 5:58am Oct 10, 2016 5:58am
Quoting 4xforfun
Hello All, it's a while I am following this forum and disccution here, I saw so many experts since I am a bit new in forex, what do you think of below status shall I keep it on hold till the price goes up or I just close them all ? Thanks {image}
Get out. You can always get back in if the signs are there,
I'm high on trading, cant you tell?
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