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Cable Update (GBPUSD)

  • #663,441
  • Jun 14, 2022 5:32am Jun 14, 2022 5:32am
Quoting Mitiblotch
That place where they collect orders and really has nothing to do with charts. If lots of you unregenerate and unbaptised, sinful retailers buy then they break it downside to harvest your stops and have you pay penance with your account also vice versa. Well, I hope the ever sanctimonious market movers and price makers will have mercy and forgive bull sin.
It means you unregenerate retail bought so the ever righteous movers had to send it down. How dare you to be correct? Why do you want to make money?!
  • #663,442
  • Jun 14, 2022 5:32am Jun 14, 2022 5:32am
Quoting Pat Chiko
{quote} Hi Sohail. This is my newbie view as I'm not professional in analysis. US inflation and Fed meeting - US PPI inflation indices, After an 11% increase in April, it is forecasted to slow slightly to 10.9% annually. Meanwhile, core producer prices grew 8.8% year over year in April, down from a series high of 9.6% in March.
with the data ready for a big hike I can’t see GU getting out of deep water
Insane in the Brain..
  • #663,443
  • Jun 14, 2022 5:35am Jun 14, 2022 5:35am
Quoting BeeTogether
Wow what a drop! Any idea what’s caused this one? Can’t see any news that might have had an effect like this just yet?
Perhaps why?

Fed Officials Could Approve 0.75-Percentage-Point Rate Rise -- WSJ *High Inflation Raises Prospect of Bigger-Than-Expected Fed Rate Increase This Week -- WSJ *Officials Had Earlier Signaled Plans to Raise Rates by Half Percentage Point -- WSJ
  • #663,444
  • Jun 14, 2022 5:38am Jun 14, 2022 5:38am
Taken a short here with US data pushing for a big rate rise I can see this going down.. will keep SL to a max of 20 pips
Insane in the Brain..
  • #663,445
  • Jun 14, 2022 5:40am Jun 14, 2022 5:40am
Quoting BeeTogether
{quote} with the data ready for a big hike I can’t see GU getting out of deep water
I don't know Bro,

I'm not a Financial/Economics Expert, just a Newbie struggling to understand how FX work.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #663,446
  • Jun 14, 2022 5:40am Jun 14, 2022 5:40am
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  • #663,447
  • Jun 14, 2022 5:42am Jun 14, 2022 5:42am
Quoting Georginson
Talks as regards possibility of raising rates by 0.75 basis point is gathering momentum, I only see this as an opportunity to smash the dollar once the decision comes as 0.50 increment which will be termed as disappointing. The upcoming rate rise is already priced in and Dollar has rallied hard bringing most pairs to multi year lows. Back to technicals, 1.2155 was taken out yesterday as if it didn't exist at all, making it 400 pips drop within 48 hours, that's really massive. Now the big question is what's the implication of that 1.2155 being broken?...

12075 in sight
Insane in the Brain..
  • #663,448
  • Jun 14, 2022 5:43am Jun 14, 2022 5:43am
Quoting BeeTogether
{quote} with the data ready for a big hike I can’t see GU getting out of deep water
so why don't you short it?
  • #663,449
  • Jun 14, 2022 5:47am Jun 14, 2022 5:47am
I’ve closed 2 of my 9 long positions at a loss and hedged against them with 2 new shorts.. hoping that if the prices fluctuates up towards 1.23 I can close another and swap that too- which will mean I’m 66%long and 33% short with the intention of slowing down my margin/equity disappearing and should mean I can ride it out if it goes down to around 1.18, close the shorts after the dust settles from the meetings on wed&thur and then Hopefully sit on my longs with enough equity to ride them back up to 1.28 area to then cash out (happy if this takes a few weeks / month or two if needed).. Is this a sensible thing to do? And do many others trade in a similar way? (I remember seeing someone comment that they never used SL’s just kept enough funds in their account to hedge when required? Or would you suggest trying to close 4 in total and have 5 longs and 4 shorts (shorts at current price and longs are 1.26-1.29 regions)

appreciate your thoughts - I just want to protect my overall balance - still working on a way to trade long term but this is the first big dive I’ve been opposite against and made the schoolboy error of not hedging or closing soon enough and I’m trapped in my trades now..
  • #663,450
  • Jun 14, 2022 5:51am Jun 14, 2022 5:51am
i can put my head on 1.228, and if not i'm out of this market with my tale between my leg
  • #663,451
  • Jun 14, 2022 5:52am Jun 14, 2022 5:52am
Quoting Whale
{quote} so why don't you short it?
I have lol went in at 12108. TP1 12075 and if that breaks then 11950 area sliding SL for a max 50 pip spread if it collects profit
Insane in the Brain..
  • #663,452
  • Jun 14, 2022 5:52am Jun 14, 2022 5:52am
Quoting Whale
i can put my head on 1.228, and if not i'm out of this market with my tale between my leg
I want 1228 but it will come after the FOMC I think. Also depends on how brave BoE are on Thursday
Insane in the Brain..
  • #663,453
  • Jun 14, 2022 5:52am Jun 14, 2022 5:52am
2100 to 2300 may be.
Intraday only.
  • #663,454
  • Jun 14, 2022 5:57am Jun 14, 2022 5:57am
Quoting Pat Chiko
{quote} I don't know Bro, I'm not a Financial/Economics Expert, just a Newbie struggling to understand how FX work.
I think you are on God level considering sarcasm.
  • #663,455
  • Jun 14, 2022 5:59am Jun 14, 2022 5:59am
Quoting Adzmoz
I’ve closed 2 of my 9 long positions at a loss and hedged against them with 2 new shorts.. hoping that if the prices fluctuates up towards 1.23 I can close another and swap that too- which will mean I’m 66%long and 33% short with the intention of slowing down my margin/equity disappearing and should mean I can ride it out if it goes down to around 1.18, close the shorts after the dust settles from the meetings on wed&thur and then Hopefully sit on my longs with enough equity to ride them back up to 1.28 area to then cash out (happy if this takes...
Check the past 10 years and see the average yearly range. Also check this year's range and see how many pips remaining to hit the average range of the past 10 years and voila you have a possible low for this year (plus minus 100 pips). And since you traded in a reasonable way by using volume commensurate to your account size, then no need to worry.

Find out the possible low and make the decision to exit with a loss if price breaks the possible low with, say, 100 pips. If price doesn't break it then you are on your way to close almost all your buys with profit.
  • #663,456
  • Jun 14, 2022 6:02am Jun 14, 2022 6:02am
This week roller Coaster about to begin.

1. May PPI report
2. Core retail sales data
3. Fed interest rate decision/meeting
4. Key housing market data
5. Fed Chair Jerome Powell talks/speak/remarks.
6. More retail earnings
7. Friday's monstrous quarterly options expiration

May the Force be with you.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #663,457
  • Jun 14, 2022 6:05am Jun 14, 2022 6:05am
Friday 200 pips down. Monday 200 pips down. Today another 200 pips down?
  • #663,458
  • Jun 14, 2022 6:07am Jun 14, 2022 6:07am
Quoting TheWolf
{quote} I think you are on God level considering sarcasm.
I started to learn forex 15 years ago from my Mentor.

He died after two months , from my mentorship starting date.

The only TWO things he taught me for that two months is : Support & Resistance, and always scalping using H4 TF.

Ever since, I don't have any mentor.

That's all.
May God blessed his soul for teaching me.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #663,459
  • Jun 14, 2022 6:09am Jun 14, 2022 6:09am
Quoting Mitiblotch
Friday 200 pips down. Monday 200 pips down. Today another 200 pips down?
another 200 would be madness (but not impossible lol) however with every quick drop there has to be an upturn, if 12050 breaks then the 200 could be on (using psychological levels)
Insane in the Brain..
  • #663,460
  • Jun 14, 2022 6:11am Jun 14, 2022 6:11am
Quoting Pat Chiko
{quote} UJ Scalp on {image}
UJ

Add

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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
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