Main moves for the day are done looks like....Should be pretty slow from here on...have a good weekend all!

Cable Update (GBPUSD)

Single prints have been pretty much filled bar 3 of them between 6628 and 6625. Looks like we could tick lower now to the bottom half of the distribution now and spend time ranging down there. small ledge at 1.6607

Cable Update (GBPUSD)

No worries mate...thought you might appreciate MP analysis. thanks

Cable Update (GBPUSD)

Note if price reaches 1.6660 there is 30pips of single prints below that. If we break lower we should drop pretty quickly down to 1.6626. Most the single print at the top of the profile above 1.6690 have been filled.

Cable Update (GBPUSD)

Yesterday’s daily candle closed as a doji on the Bollinger band centre moving average. As I said yesterday this was a key area as to the direction of price for the coming week.. Had we closed below, there was a good chance we would of tested the ...

Cable Update (GBPUSD)

single prints have been filled bar 1

Cable Update (GBPUSD)

Looks like we are formed a next to perfect bell shape distribution on the market profile. There is a massive value area of 18 TPO's. It look unlickly we are going to break abve this anytime soon. I would reckon we will trade between 6561 and 6530 ...

Cable Update (GBPUSD)

thanks

Cable Update (GBPUSD)

As expected we broke nicely to the down sid....In theory we should be looking at a approx 60 pip break. Point A to Point B should be this distance the break follows through. Note support at 1.6537 My target 1.6471 ish

Cable Update (GBPUSD)

Todays Value area 1.6570 Price trap currently forming....wait for the break eithersie. I think we are likely to break lower. Wait for the pull back and then place entry.

Cable Update (GBPUSD)

Kings comments in nthe Q&A this morning....He made a comment about a weaker pound being better for the economy at the moment.

Cable Update (GBPUSD)

breakout trade..... bear in mind that it is a US bank holiday and all these moves are happening on relatively low volume. Never a great idea to trade of low vol. Im of for the day

Cable Update (GBPUSD)

Todays value area is 1.6728 It is likely we are going to trade back to this point and possibly test the lower end of the profile before heading further up. Saying that there is a big ledge at 1.6728...we may just bounce of this back up, however if ...

Cable Update (GBPUSD)

There are only 2 ways this can go up or down (forget about sideways im keeping it simple)....Now as i mentioned in my earlier post at 9.25 ish we are at some major resistance horizontally and from a trend channel top. We are not just going to waltz ...

Cable Update (GBPUSD)

Market Profile — single 'q' prints have been filled with that better than expected data... them 'T' prints on the MP have also mad afew clearer buying and selling ledges.

Cable Update (GBPUSD)

Daily and Market Profile Analysis — Its quite apparent from the daily chart that we are at some critical horizontal resistance and diagonal trendline resistance. (horiszontal res 1.67443) It seems like the bulls are loosing some steam here ...

Cable Update (GBPUSD)

chart for the above

Cable Update (GBPUSD)

single prints from 23rd have just been filled....rocket fuel for the bulls

Cable Update (GBPUSD)

Another thing to be aware of is a big stem of single prints that were generated on the 23/10 after the UK GDP prelim figures. These lie just above the 50% fib area. If the area does not hold and we enter above we could find ourselves at 1.6607 area ...

Cable Update (GBPUSD)

Im not picking tops pumpkin...im just saying we have only tested this 50% fib area once and it is not unlikely that will test it again as rairly price reverses from a single test at a fib level. As for price action look at your hourly and 15min ...

Cable Update (GBPUSD)