Durante wrote:

Captain Jack wrote:

Durante wrote:

Angat wrote:Morning, I see this thread has been busy again. On the GBPUSD, its created a new high, its this a level 3 push or a stop run or even both?

Yesterdays GU move was an intraday trending move, also known as an intentional move. They can often be identified when they cut the London high and stay above it for more then 30 minutes. These moves usually won't reverse for three sessions or half way through the third session after the move started.

So you think it's going to rise for 2 more sessions?

I follow a 3 day cycle from the last peak low, which should bring us to a new peak high level 3 today....

Interesting as I see several GBP pair at the 3rd level from the last peak low...

CJ

No. I agree with you. the move started in london session so we should be into the third session now and looking for a technical exit if still in the buy trade. I won't be shorting though as we're in the trending part of the month and I feel GU is going to keep making aggressive gains. may be a correction first but I'm quite conservative so will watch a bit longer before re-entering.

Captain Jack wrote:

swisscheese wrote:

Captain Jack wrote:Anybody watching EURNZD?

CJ

CJ

This Level was good for a few Short-Trades with very low Risk/tight SL.
Maybe it ist still a good Short Level...

Now I'm Long here as the Low prints are pushing higher.

Edi

Unless I'm mistaken, this was the stop hunt.....

CJ

swisscheese wrote:

Captain Jack wrote:Anybody watching EURNZD?

CJ

CJ

This Level was good for a few Short-Trades with very low Risk/tight SL.
Maybe it ist still a good Short Level...

Now I'm Long here as the Low prints are pushing higher.

Edi

Captain Jack wrote: Market talk of a large option expiry for today's NY cut in GBP/USD at 1.5150 - Unconfirmed