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Cable Update - Continued 61 replies

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Cable Update (GBPUSD)

Quoting TheWraith
SNB'S JORDAN: WE ARE READY TO SELL FX
GBP: I wore my helmet, tightened my belts, and parachute bag on. I'm about to fall.
Secret to the Price Action is Liquidity.
...bulls certainly under pressure right now. Dly below shows that the aforementioned prev sw lo zone that extends down to 2274 where the current dly lo is, = prev supp = pot supp.

dly below
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Intraday swing trader @ 1Hr+ supp/res, & 5min+ sbr/rbs, via 1min+ set-ups
Quoting Moty
Eu is 20 pips above significant support And crooky gu is still stuck at the support line {image}
The mf is crooky
This is pure squeeze
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Quoting TheWraith
If BOE does what SNB just did, GBP/USD will drop to 1.215 today! Also, watch out for votings, because they changed! 7 0 2 prior 8 0 1. Also, there is astounding 70% of retail volume going Long.
I really hope the raise the rates, else GBP will drop for sure. But you are right, especially the price inflation were below expectations so I would say at least 30% chance they will leave rates unchanged. So after that analysis you should go short...

I tell that since 1.2370 yesterday, that was where the selling started (PA was obvious). Unfortunately I don't trade like that, it's the complete opposite of my trading style.

And even now, me as a counter trend trader, say chance are still higher for a drop now , so no long for me. And also the retailers are 70% long...invitation for the institutionals. Really, there so many factors which don't prefer long, that's seldom. Also daily average is not even half full, perfect timing on Eurozone at least.
...10/20/40 ema crosses across the t/f's currently as below. Best advice re upcoming data - trade what you see - not what you think should be happening, -or- stand aside till the dust settles.
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Intraday swing trader @ 1Hr+ supp/res, & 5min+ sbr/rbs, via 1min+ set-ups
Quoting JackintheBox
{quote} I really hope the raise the rates, else GBP will drop for sure. But you are right, especially the price inflation were below expectations so I would say at least 30% chance they will leave rates unchanged. So after that analysis you should go short... I tell that since 1.2370 yesterday, that was where the selling started (PA was obvious). Unfortunately I don't trade like that, it's the complete opposite of my trading style. And even now, me as a counter trend trader, say chance are still higher for a drop now ,...
Actually the market probability is divided 50-50 between Hike or pause.

If they pause, Pound falls for sure.

If they hike, i would still say Pound would fall but it would spike up first, then close as a red candle.

For me too, Long before news is out of question

Of course, I can be wrong for the possible market reaction.

Trade safe
Not afraid to be wrong, ik what am goin to lose!
am i too late to join the train.. hhhmm
Quoting Georginson
Are we having a repeat of July to December 2014 or another repeat of September 2022? Price keeps making lower lows and expected range for September is 500 pips, which means 1.2213... Money management will always be the saviour no matter how one trades.
Hi Georginson, I see your point. From PA Perspective it will not be the same. What we saw in Sept. 22 was a sell off at a new low and Paritiy was also a huge scaring factor. Today it is driven by fundamentals, not only fear. The drop is also much more smooth. From my statistics it shows that a pullback chance is quite low compared to sept. 22. I would not start yet to build up a huge position from here. May be after BOE today we have a clearer picture but I think not.
Enough for bear Long 1.2286 SL 1.2270
Live trade ~ GBPUSD only. Follow at your own risk!
Will GU ever buy again?
Quoting Yngwie
Enough for bear Long 1.2286
long for the news.. lets slaughter those bears..
Last time support broke ,
it was for 37 pips and then price went up from false break
I calling 1.22700 to the low of the day at max
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It’s massively oversold at the moment. The confidence in the government is also fading. a rate rise is required for the pins to get back over 124. Less than an hour
Apparently markets expentancy is now around 50/50 for rate increase. If they increase it then we could see a spike but not tradeble 1 m spike.
Quoting OperaniyiFx
Will GU ever buy again?
Avoid that, I'm telling you.
Secret to the Price Action is Liquidity.
Hi all,
we did not touch Weekly pivot yet, but broke down red TL which indicates more downside, 1.23117 was 0,618 fib which was also broken
S2 1.2268 for a bounce
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Quoting JereMi256
{quote} Setup failed! All positions closed at BE
Re-entry Long

SL -18pips
TP open
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Face 'ur fear & Tame 'ur greed
Quoting JereMi256
{quote} Re-entry Long SL -18pips TP open {image}
If i were to long at a moment like this, i would consider to use a SL > 30pips

Options will be expired around the same time of MPC- volatility , price can gap down

Your account, your call
Not afraid to be wrong, ik what am goin to lose!
...how are you bulls diddling? Alrighty?
Seriously though, this prev 4hr/dly sw lo zone extends down to 2274, but if the data react is the 'wrong' way for the bulls, it could be last one out close the window time?
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Intraday swing trader @ 1Hr+ supp/res, & 5min+ sbr/rbs, via 1min+ set-ups
Quoting Fardeen1209
{quote} If i were to long at a moment like this, i would consider to use a SL > 30pips Options will be expired around the same time of MPC- volatility , price can gap down Your account, your call
Good piece of advice but I will keep this one tight after yesterday's hit.

If it gets taken, I will call off this week and come back with a fresh plan next week!

Thanks.
Face 'ur fear & Tame 'ur greed
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