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Cable Update (GBPUSD)

  • #451,641
  • Apr 4, 2017 10:47am Apr 4, 2017 10:47am
I cannot understand. Everytime GBP goes on a run, it gets slammed down by 15 pips out of a sudden.
  • #451,642
  • Apr 4, 2017 11:23am Apr 4, 2017 11:23am
Looks like 1.24 is holding for now. But until Friday only I guess.
  • #451,643
  • Apr 4, 2017 11:28am Apr 4, 2017 11:28am
Quoting KovanTrader
I cannot understand. Everytime GBP goes on a run, it gets slammed down by 15 pips out of a sudden.

It is a bad sign it will come more down then. It was the same last time on the way Down t o 1.21. I also have in mind the big Shorter volume of the year in the area 1.2550 to 1.2410 last time
  • #451,644
  • Apr 4, 2017 11:50am Apr 4, 2017 11:50am
It needs to make its mind up hanging on here can somebody kick it up the ... Lol
  • #451,645
  • Apr 4, 2017 12:05pm Apr 4, 2017 12:05pm
Accumulating shorts, should see a break from this range downward.
  • #451,646
  • Apr 4, 2017 12:13pm Apr 4, 2017 12:13pm
Quoting Derivative92
Accumulating shorts, should see a break from this range downward.
What is the range in this scenario.?
  • #451,647
  • Apr 4, 2017 12:14pm Apr 4, 2017 12:14pm
Quoting Derivative92
Accumulating shorts, should see a break from this range downward.
I see it other way. A big spike up is inevitable considering the ongoing price action. 1.2418 & 1.2400 (100 HMA, 100 DMA) is key which is holding so far throughout the day
  • #451,648
  • Apr 4, 2017 12:19pm Apr 4, 2017 12:19pm
Quoting NMZee
{quote} What is the range in this scenario.?
Anybody seen Maxdoom lately. Great trader and gem of a person he is.
  • #451,649
  • Apr 4, 2017 12:24pm Apr 4, 2017 12:24pm
Quoting Forexgain
{quote} I see it other way. A big spike up is inevitable considering the ongoing price action. 1.2418 & 1.2400 (100 HMA, 100 DMA) is key which is holding so far throughout the day
Yeah, except that it is really weird that every GBP rally gets smack down fiercely.

It's almost as if there's some invisible hand that wants to smack GBP down.

Waiting to see if this strikes again and bring us to a new low of the day.
  • #451,650
  • Apr 4, 2017 12:59pm Apr 4, 2017 12:59pm
Quoting NMZee
{quote} You see that supply zone at 2464. That is a good strong one. Break this and we may even see 2490.
Yeah , I didn't catch that..The supply there was pretty strong ...But I think we are going to test 1.2450 AGAIN ...Don't know what's going to happen from there ..I'm already out the market ..
  • #451,651
  • Apr 4, 2017 1:13pm Apr 4, 2017 1:13pm
If it being sold them someone's buying it . Watch out in case it jumps up and then gets dumped
  • #451,652
  • Apr 4, 2017 1:57pm Apr 4, 2017 1:57pm
[quote=KovanTrader;9735919]{quote} Yeah, except that it is really weird that every GBP rally gets smack down
Yea some hands are smacking the head and sending it down but few hands are smacking the tush and sending it back up.......Jepos will lend us a hand tonite to push this sliw coach ovr 2520.
  • #451,653
  • Apr 4, 2017 2:13pm Apr 4, 2017 2:13pm
Quoting Forexgain
{quote} I see it other way. A big spike up is inevitable considering the ongoing price action. 1.2418 & 1.2400 (100 HMA, 100 DMA) is key which is holding so far throughout the day
Well, it's an interesting one. Also interesting that there's an equilibrium of Forex factory positions/sentiment on the home page!
  • #451,654
  • Apr 4, 2017 2:14pm Apr 4, 2017 2:14pm
Quoting NMZee
{quote} What is the range in this scenario.?
Sorry for lack of clarity, I was seeing the consolidation of price on the 15m timeframe.
  • #451,655
  • Apr 4, 2017 3:45pm Apr 4, 2017 3:45pm
Going into a squeeeeze . Let's get ready to ????
  • #451,656
  • Apr 4, 2017 6:49pm Apr 4, 2017 6:49pm
This pair is dog tired 109 days we have been trying to get away from this level.
We break long and divergence sends it back. We break short and divergence sends it back..rinse and repeat.
Neither side has been able to break this deadlock.

So what happens is traders turn to better performers like the Yen crosses to grease their palms. This relaxes the pressure G/U as traders get out and we get a situation where even minor news can create a spark of activity of some magnitude.

What we are seeing is the institutions gradually reversing their positions. They are closing out their shorts and buying the bargains at the same time they have to keep the price as low as possible to keep getting those bargains. They make you think sell so they can buy. This is how all turnarounds work as positions are reversed, it takes a long time to reverse billions of dollars. We all know that these long flattish spots are precursors to large breakouts but which are false and which are for real is the question.

I don't want to get stuck on the wrong side of a major break so I will stick to very short term profit making.
  • #451,657
  • Apr 4, 2017 7:23pm Apr 4, 2017 7:23pm
Quoting Nala66
This pair is dog tired 109 days we have been trying to get away from this level. We break long and divergence sends it back. We break short and divergence sends it back..rinse and repeat. Neither side has been able to break this deadlock. So what happens is traders turn to better performers like the Yen crosses to grease their palms. This relaxes the pressure G/U as traders get out and we get a situation where even minor news can create a spark of activity of some magnitude. What we are seeing is the institutions gradually reversing their positions....
"They make you think sell so they can buy"
OMG im on this rule
onorebate
  • #451,658
  • Apr 4, 2017 7:39pm Apr 4, 2017 7:39pm
I wouldn't call it a rule as such and it is a very slow process. Who knows they may just be taking profits and not even reversing. This is the problem, they are not going to tell you what they are doing, they decide in the board room and keep it very close to their chests.

All I am saying is watch out for sudden breaks in either direction.

Look what happened previously...
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  • #451,659
  • Apr 4, 2017 7:51pm Apr 4, 2017 7:51pm
In the left blue box every man and his dog was thinking bottom and buying, then boom no quarter given all the stops were taken out big time.

Now traders are wary and reluctant to go long so it takes longer.
  • #451,660
  • Apr 4, 2017 8:30pm Apr 4, 2017 8:30pm
Good call on the 2555 last week there N66,,,,,,,,atm kinda what Im watching ,,,,, need something to pop into a little bigger resistance, Ill see what it looks like if and when it gets there ,,cheers all
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