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Cable Update (GBPUSD)

  • #807,381
  • Feb 5, 2024 4:30am Feb 5, 2024 4:30am
...3rd 4hr downside b/o of the 2828-2610 4hr/dly range now...

4hr below
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Trader with an Edge.
  • #807,382
  • Feb 5, 2024 4:33am Feb 5, 2024 4:33am
Quoting Whale
{quote} what so funny?
what’s funny is people trading blindly

the bull is just about to come after sweeping the liquidity, simple concept
  • #807,383
  • Feb 5, 2024 4:34am Feb 5, 2024 4:34am
Quoting OperaniyiFx
A lot of buy positions has been swept off lol
laughing just like you are best trader in the world
dont teach me how to buy. im sellers!!
  • #807,384
  • Feb 5, 2024 4:42am Feb 5, 2024 4:42am
Quoting OperaniyiFx
{quote} what’s funny is people trading blindly the bull is just about to come after sweeping the liquidity, simple concept
Oh the concept.. right.
  • #807,385
  • Feb 5, 2024 4:42am Feb 5, 2024 4:42am
Quoting MrFanciful
{quote} Bond market sell off has continued this morning. Yield hit 4.1% earlier. Bond sell ofs create a lot of demand for the dollar as you can't sell them for anything else.

Bond yields coming of their highs
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Don't Leave Money on the Table
  • #807,386
  • Feb 5, 2024 4:46am Feb 5, 2024 4:46am
Dollar showing signs of weakness.

Major retracement might start soon.
Gold already started bouncing.
Exhausted
  • #807,387
  • Feb 5, 2024 4:47am Feb 5, 2024 4:47am
Big news this week banks cutting Silver shorts by 50%, this is big big news suggests the inflation demon is much bigger than advertised and the banks know Silver is going to pump like crazy....could be wrong

One economist I was watching claiming real inflation running at 15%......
Don't Leave Money on the Table
  • #807,388
  • Feb 5, 2024 4:48am Feb 5, 2024 4:48am
Quoting TraderFX.Id
{quote} fast 20p closed and open long 2590 tp open
slow but sure..hope this up come stronger at NY..so we can meet 2700
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dont teach me how to buy. im sellers!!
  • #807,389
  • Feb 5, 2024 4:57am Feb 5, 2024 4:57am
  •  Oylux
  • | Joined Nov 2023 | Status: Natures Best. Nig 🇳🇬 | 66 Posts
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Finally done with my challenge account first time trying a prop Firm seeing that it is now the newest and easiest way to get a better trading capital. Grateful for all the learnings from the chat room . Special thanks to @ t721 @navk for their support and Time. Thanks FF Room.
  • #807,390
  • Feb 5, 2024 5:00am Feb 5, 2024 5:00am
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yes yes yes
  • #807,391
  • Feb 5, 2024 5:09am Feb 5, 2024 5:09am
...price challenging the bottom of that prev 1hr/4hr/minor dly sw lo zone = prev supp = pot sbr that begins @ 2596 and on 4hr extends to circa 2509, (on dly to circa 2633,) @ the current p/back hi (off the 2581 current dly lo.) Have brushed off those longer-term downside fib retraces again per graphic below. 58% of 30day adr traveled so far today.

1hr and fibs graphic below
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Attached Image
Trader with an Edge.
  • #807,392
  • Feb 5, 2024 5:16am Feb 5, 2024 5:16am
Second attempt long today.
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I have no clue where it's going
  • #807,393
  • Feb 5, 2024 5:24am Feb 5, 2024 5:24am
...looking at the dly t/f, I am thinking that maybe only a downside break and clear of 2500 might turn this t/f truly bearish?

dly below
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Trader with an Edge.
  • #807,394
  • Feb 5, 2024 5:25am Feb 5, 2024 5:25am
Quoting Headland
...price challenging the bottom of that prev 1hr/4hr/minor dly sw lo zone = prev supp = pot sbr that begins @ 2596 and on 4hr extends to circa 2509, (on dly to circa 2633,) @ the current p/back hi (off the 2581 current dly lo.) Have brushed off those longer-term downside fib retraces again per graphic below. 58% of 30day adr traveled so far today. 1hr and fibs graphic below {image} {image}
Appreciate the info Headland.
Although I'm in Eurusd trade now but this is good info
Exhausted
  • #807,395
  • Feb 5, 2024 5:35am Feb 5, 2024 5:35am
Cable melting looking for buy1.2500-600
edit added a long scalp .. if it falls add more small position
Extreme gut feeling trader
  • #807,396
  • Feb 5, 2024 5:41am Feb 5, 2024 5:41am
Quoting LifeRider
Second attempt long today. {image}
SL hit. Third try today. Last one, I think:
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I have no clue where it's going
  • #807,397
  • Feb 5, 2024 5:43am Feb 5, 2024 5:43am
As the dollar is simply a derivative of the debt market (after all, the dollar represents a loan), the value of the dollar is heavily influenced by the bond market. If you overlay the Fed Funds Rate on top of the 2 Year Treasury Yield, you'll see that the Fed simply reacts to what that yield is doing. Notice that the 2 Year goes up or down first, followed by the Fed's interest rate.
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  • #807,398
  • Feb 5, 2024 5:45am Feb 5, 2024 5:45am
Quoting LifeRider
{quote} SL hit. Third try today. Last one, I think: {image}
think you should give it a hour or so for exhaustion it's trying to hit stop-loss
  • #807,399
  • Feb 5, 2024 5:47am Feb 5, 2024 5:47am
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yes yes yes
  • #807,400
  • Feb 5, 2024 5:47am Feb 5, 2024 5:47am
Quoting montygoldy
Cable melting looking for buy1.2500-600 edit added a long scalp .. if it falls add more small position
Gold is probably where you should have been this AM.
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