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Cable Update (GBPUSD)

  • #662,941
  • Jun 10, 2022 6:55am Jun 10, 2022 6:55am
Quoting Blazed
Patience tomorrow we short the F out of cable. Looking at 1,23 in the following days.
Haha! told ya we short the F out on Fridays, like a thief at night run with your money and dont look back. Good day to yall educated lot! Have a great weekend.
  • #662,942
  • Jun 10, 2022 6:59am Jun 10, 2022 6:59am
Quoting RaHaG0D
{quote} Why do I see only a decline in your analysis? That is, the break of 1.2640 is unlikely? Why? Only for liquidity at 1.24? I do not know much about Elliott, but as far as I know, the return of the price from 1.24500 did not complete the C-wave for me .Which can return to 1.24 to complete the wave. A break of 1.267 will be the end of the downtrend for me. Maybe I think wrong. Again, I would like to know more about your chart if you have time. Thanks a lot
The narrative seeing GU as bearish was backed by the Dollar being bullish despite dollar is weak in reality yet they have to keep it alive! secondly in Stop hunt post it was evident that DXY made a HL correspondingly EU did a LH but GU didnt do a LH but made a HH i.e stop hunt.

Price doesn't know about candle sticks, engulfing, pins, harmonic, elliot waves, QML ...... these are just patterns that we have build our narrative with because they work some times.

sorry for the late reply.
Peace!
bilal
"Exchange of hands"
  • #662,943
  • Edited 7:20am Jun 10, 2022 7:06am | Edited 7:20am
Quoting Jolita
{quote} I was concerned about Georginson too. I'm also gutted, this sell trade V pattern I've shared on other thread is in process, closed too early. What is wrong with bulls? Holiday season? {image}
It was the right analysis that I saw. Price When started Sharp moving from 1.22 without any retest to previous H & L, I always mentioned in the thread that the price does not currently see 1.27 - 1.30. returns from a supply area in 4H. Such behavior is strange and I have always seen that the market returns first, fills it and then starts moving. Now, if I want to Buy, the 4H in the same area(Demand4H(1.235-1.241)) must be approved by me to add to my Long (Engulf Bullish), otherwise 1.21 will be my next point. I just scalp to get a 4H confirmation.
There is nothing wrong with being kind & loving to each other
  • #662,944
  • Jun 10, 2022 7:07am Jun 10, 2022 7:07am
... anyone else get the perfect exp tri on 1min @ current dly lo? - a fine example with the reg bull div @ pt.5 (and on higher t/f's as well than 1min)...no idea what the pot supp was though lol, so only went in 1/2 typical vol for a scalp (+.) Challenging the prev 1hr/4hr sw lo zone that starts @ 2430 now (wide 4hr zone) = prev res = pot sbr. U.s Cpi to come.

1min below
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Trader with an Edge.
  • #662,945
  • Jun 10, 2022 7:09am Jun 10, 2022 7:09am
Quoting Georginson
{quote} I'm okay mate, just watching on the sideline. Thanks for checking up on me.
Thank God you are healthy. I always read your analysis carefully and your vacancy was felt
There is nothing wrong with being kind & loving to each other
  • #662,946
  • Jun 10, 2022 7:12am Jun 10, 2022 7:12am
Stop here mf
What amaze me it that the Aussie is standing still
And even rose a little today
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yes yes yes
  • #662,947
  • Jun 10, 2022 7:13am Jun 10, 2022 7:13am
Quoting sisucoro
{quote} I followed your advice to only sell today and happy with that drop, honestly when the sesion start I was looking to go up following the box pattern of that week. As clearly the downtrend keeps going down, may we have a pull back in the usa sesion, last two days was been that way. {image}
Happy for your pips. Sometimes I cannot fully explain what I see on the chart. But here is my thought process. There are other factors, which I have mentioned before and one of them being that the bottom at 2430 was not made by London or NY. It was made by Asia and in my experience bottoms or tops set by Asia are fakes. They will get tested again in a few days time. So, 2430 was a must for me, and it must happen with London getting in on the move. Today is an example. For other points see the image below:

NB: on the daily chart, the bearish engulfing candle was confirmed to me by the next daily candle which was red and had a somewhat full body.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: GU 4HR.png Size: 112 KB
  • #662,948
  • Jun 10, 2022 7:14am Jun 10, 2022 7:14am
Quoting bilal1947
{quote} The narrative seeing GU as bearish was backed by the Dollar being bullish despite dollar is weak in reality yet they have to keep it alive! secondly in Stop hunt post it was evident that DXY made a HL correspondingly EU did a LH but GU didnt do a LH but made a HH i.e stop hunt. Price doesn't know about candle sticks, engulfing, pins, harmonic, elliot waves, QML ...... these are just patterns that we have build our narrative with because they work some times. sorry for the late reply. Peace! bilal
Thank you very much for answering. I also agreed with the decline and the price does not even reach 1.265-1.264 because it is the supply area that has not been tested even twice. I read your message carefully now to learn. Thank you again mate, Good luck
There is nothing wrong with being kind & loving to each other
  • #662,949
  • Jun 10, 2022 7:15am Jun 10, 2022 7:15am
Quoting Moty
Stop here mf What amaze me it that the Aussie is standing still And even rose a little today {image}
That's will be sign that GU can reverse quickly or not, lets see..
People don't plan to lose. They lose because they don't plan.
  • #662,950
  • Jun 10, 2022 7:17am Jun 10, 2022 7:17am
Quoting Headland
... anyone else get the perfect exp tri on 1min @ current dly lo? - a fine example with the reg bull div @ pt.5 (and on higher t/f's as well than 1min)...no idea what the pot supp was though lol, so only went in 1/2 typical vol for a scalp (+.) Challenging the prev 1hr/4hr sw lo zone that starts @ 2430 now (wide 4hr zone) = prev res = pot sbr. U.s Cpi to come. 1min below {image}
Today's data will be confusing to trade for people like me...

Is bad news about inflation good news for the exchange rate?

When we pool the data, we do in fact find that bad news about inflation is indeed good news for the nominal exchange rate, that the results are statistically significant, and that the r – square is substantial, in excess of 0.25 for core measures of inflation.

Your thoughts?
  • #662,951
  • Edited 7:36am Jun 10, 2022 7:18am | Edited 7:36am
Profit taking time, its Friday and price like to close near to weekly opens: (close manually) - CPI red news and crash further
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"Exchange of hands"
  • #662,952
  • Jun 10, 2022 7:21am Jun 10, 2022 7:21am
Quoting samsha786
{quote} Today's data will be confusing to trade. Your thoughts? Is bad news about inflation good news for the exchange rate? When we pool the data, we do in fact find that bad news about inflation is indeed good news for the nominal exchange rate, that the results are statistically significant, and that the r – square is substantial, in excess of 0.25 for core measures of inflation.
Simplistically, yeh rising inflation is ' good ' for the exchange rate (in the sense that it will probably rise - ie good if you are going on hols abroad, but not for exporters for eg) of the country experiencing it because the central bank will likely raise rates to counter/control it. It's a bit more nuanced than this but that's essentially it.
Trader with an Edge.
  • #662,953
  • Jun 10, 2022 7:22am Jun 10, 2022 7:22am
Quoting Pat Chiko
{quote} I'm speaking the truth. No lying here, be a good boy ...ok ?
hi mr pat your hard work on GU finally paid off. i have a question if you have the time... can you tell me what happens during a compression? is it some sort of accumulation or distribution? a brief explanation would suffice.
  • #662,954
  • Jun 10, 2022 7:27am Jun 10, 2022 7:27am
Quoting Mitiblotch
{quote} Happy for your pips. Sometimes I cannot fully explain what I see on the chart. But here is my thought process. There are other factors, which I have mentioned before and one of them being that the bottom at 2430 was not made by London or NY. It was made by Asia and in my experience bottoms or tops set by Asia are fakes. They will get tested again in a few days time. So, 2430 was a must for me, and it must happen with London getting in on the move. Today is an example. For other points see the image below: NB: on the daily chart, the bearish...
thank you for your response, really clear now
rip and tear until it's done
  • #662,955
  • Jun 10, 2022 7:31am Jun 10, 2022 7:31am
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yes yes yes
  • #662,956
  • Jun 10, 2022 7:34am Jun 10, 2022 7:34am
Boom now that’s the drop I was waiting for (before I switched to long )
Insane in the Brain..
  • #662,957
  • Jun 10, 2022 7:36am Jun 10, 2022 7:36am
Quoting ScalaFX
{quote} 2411 next, 50% fibo all move up, pendings waiting, when more down I will be managings with shorts, fingers crossed
Went under, watching H4 close to decide, all active now, waiting
People don't plan to lose. They lose because they don't plan.
  • #662,958
  • Jun 10, 2022 7:40am Jun 10, 2022 7:40am
"Dollar goes up after higher than expected CPI because investors think the Fed will start tackling inflation" BUUULLLLLLLSHHHHIIIIIITTTTTT
  • #662,959
  • Jun 10, 2022 7:43am Jun 10, 2022 7:43am
Quoting MrFanciful
"Dollar goes up after higher than expected CPI because investors think the Fed will start tackling inflation" BUUULLLLLLLSHHHHIIIIIITTTTTT
ha..ha...
Intraday only.
  • #662,960
  • Jun 10, 2022 7:49am Jun 10, 2022 7:49am
..nice drop on the knee-jerk react and then a bounce from the prev 1hr sw hi zone = prev res = pot rbs mentioned earlier...4 fib cluster 2430-40 ( 3 shown on chart below.) Now selling from that cluster in that prev 1hr/4hr sw lo zone that rates @ 2430 = prev supp = pot sbr.

1hr below
Attached Image (click to enlarge)
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