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Cable Update (GBPUSD)

  • #629,141
  • Oct 8, 2021 7:45am Oct 8, 2021 7:45am
... as others have noted, a mixed bag of data results. Upwards revision to Sept's headline #, Un-emp rate falls to 4.8%, but a < expectations headline # this time out.

4hr below shows where the current hi is, bottom of that prev 1hr/4hr sw lo zone = prev supp = pot sbr. 50% of the main recent 3912-3411 move/likely last wkly swing is @ 3666. False 1st b/o (on the lower t/f's) of the recent tues hi-weds lo range, 3648-3544.

4hr below.
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Trader with an Edge.
  • #629,142
  • Oct 8, 2021 7:46am Oct 8, 2021 7:46am
Quoting kris89
{quote} {image}
https://www.forexfactory.com/thread/...7#post13738357
The only impartial feeling is love. It is also the only feeling of God.
  • #629,143
  • Oct 8, 2021 7:47am Oct 8, 2021 7:47am
Quoting phd893
{quote} H12 {image}
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  • #629,144
  • Oct 8, 2021 7:47am Oct 8, 2021 7:47am
Quoting BeeTogether
{quote} be interesting to see which of the 2 data sets hold more weight
Exactly. This will be a new experience for me. And more interestingly, which data will Powell focus on?
You have to have an IQ higher than 90 to interact with this user.
  • #629,145
  • Oct 8, 2021 7:47am Oct 8, 2021 7:47am
Quoting Nordling00
{quote} Okay NFP came out dramatically low. But unemployment rate looks great. It really looks conflicting. I won't be closing my USD/JPY longs though. It's weird.

I don't understand this flipping stuff..
  • #629,146
  • Oct 8, 2021 7:50am Oct 8, 2021 7:50am
Quoting nAVIN2007
{quote} I don't understand this flipping stuff..
if you are a tech trader you don't have to mate, it's all in the price/chart. Trade what we see.
Trader with an Edge.
  • #629,147
  • Oct 8, 2021 7:50am Oct 8, 2021 7:50am
Minor pull back... We may see a strong continuation...
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My telegram: https://t.me/avidforex
  • #629,148
  • Oct 8, 2021 7:51am Oct 8, 2021 7:51am
Quoting nAVIN2007
{quote} I don't understand this flipping stuff..
To me the data is excellent! In a 'plandemic' 194k jobs were added. To me, that's fair. Everybody is recovering. Also, sometimes I like to think data is just fudged and used to move price. For now better to stay out. Or even come back next week to see the true market reaction.
  • #629,149
  • Oct 8, 2021 7:52am Oct 8, 2021 7:52am
Quoting Headland
{quote} if you are a tech trader you don't have to mate, it's all in the price/chart. Trade what we see.

I hear ya
  • #629,150
  • Oct 8, 2021 7:53am Oct 8, 2021 7:53am
Quoting Nordling00
{quote} Exactly. This is will be a new experience for me. And more interestingly, which data will Powell focus on?
Exactly! nfp missed by a whopping amount whilst unemployment dropped by 0.3 % from expected results. Could possibly be the reason we aren’t in 137 today. However going forward Powell may look at a potential slowdown in uptake?
Insane in the Brain..
  • #629,151
  • Oct 8, 2021 7:53am Oct 8, 2021 7:53am
Quoting nAVIN2007
{quote} I don't understand this flipping stuff..
I don't either. Jobs rose so unemployment fell, but NFP is low. I guess majority of unemployed people chose to be farmers last month That's the only explanation
You have to have an IQ higher than 90 to interact with this user.
  • #629,152
  • Oct 8, 2021 7:53am Oct 8, 2021 7:53am
Quoting nAVIN2007
{quote} I hear ya
Lol... it is not all in the chart. Haven't you seen price do the exact opposite of what's in the chart?
  • #629,153
  • Oct 8, 2021 7:55am Oct 8, 2021 7:55am
totally blocked, better after the DOW and report?
  • #629,154
  • Edited 9:29am Oct 8, 2021 7:55am | Edited 9:29am
Quoting Nordling00
{quote} Okay NFP came out dramatically low. But unemployment rate looks great. It really looks conflicting. I won't be closing my USD/JPY longs though. It's weird.
yea this is bad
unemployment rate dropping means less people are looking for work when theres still lots of jobs to fill to return
they can't fill that gap this year ,they can't be tapering in a high inflation environment ,its bullshit insulting intelligence of anyone looking at it

I looked at this last month as attached
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #629,155
  • Oct 8, 2021 7:58am Oct 8, 2021 7:58am
I have shorted gbpusd
  • #629,156
  • Oct 8, 2021 7:58am Oct 8, 2021 7:58am
i hope i am right
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MY OPINION NOT FINANCIAL ADVISE
  • #629,157
  • Oct 8, 2021 8:00am Oct 8, 2021 8:00am
Quoting Theoak
{quote} Load of pips now retrace and get back on board!!! {image}
Loaded up again!! In at.... look at the chart!!! LONG!
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Don't trade what you think. Just what you see!!!
  • #629,158
  • Oct 8, 2021 8:01am Oct 8, 2021 8:01am
The writing was on the wall since yesterday and today.

nfp or whatever.
1.366/67 (10-20 pips tolerance) is where large 5th wave looking to finish.
Bearish divergence is already formed.

Now,just a waiting time, Nothing to trade or to guess. next journey will be south. For 1.35 minimum.

happy trading.

p.s not to criticize anybody here, but asian session made 8 consecutive bearish hours.
crawling into yesterday confluence zone.
and i saw some fresh sells and im like…

forex, behind patterns, TA, FA, or what so ever.. common sense is more important than everything.

fx is not a hobby, find another.
  • #629,159
  • Oct 8, 2021 8:01am Oct 8, 2021 8:01am
Quoting Houtbay
I have shorted gbpusd
wow!
  • #629,160
  • Oct 8, 2021 8:02am Oct 8, 2021 8:02am
Quoting Bones
{quote} yea this is bad unemployment rate dropping means less people are looking for work when theres still lots of jobs to fill to return they can't fill that gap this year ,they can't be tapering in a high inflation environment ,its bullshit insulting intelligence of anyone looking at it I looked at this last month as attached {image} {image}
I am currently watching Bloomberg and they said like 10-20 mins ago that anything above 0 (for NFP) it will be positive news for tapering to start in November
You have to have an IQ higher than 90 to interact with this user.
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