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Cable Update (GBPUSD)

  • #671,001
  • Jul 21, 2022 9:24pm Jul 21, 2022 9:24pm
USD out look.

Wall Street is beginning to feel their corporate earnings calls about the strong US dollar being a drag in/on profits.
Especially regarding foreign markets.

Strong Dollar tend to weigh on US corporate earnings, especially at firms that have a strong business presence overseas.

In a 8–10 % increase in the value of the dollar could lead to a 1 % drop in profit margins.
A strong dollar also makes American manufactured goods more expensive overseas, forcing foreign buyers to pay more in local currency to purchase those same items.

cont/-
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #671,002
  • Jul 21, 2022 9:26pm Jul 21, 2022 9:26pm
Quoting Pat Chiko
USD out look. Wall Street is beginning to feel their corporate earnings calls about the strong US dollar being a drag in/on profits. Especially regarding foreign markets. Strong Dollar tend to weigh on US corporate earnings, especially at firms that have a strong business presence ocont/-
What we are looking at in overall US Econ.

This will lessen the the value of foreign revenue for American companies when it is converted into U.S. currency.
The revenue earnings of foreign companies in America, on the other hand, grow stronger once the higher value greenbacks are converted to a local currency.

The rising price of U.S. made goods has lead to a decline in demand and making American manufacturers less competitive, as foreign importers look to alternative sources of goods.

cont/-
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #671,003
  • Jul 21, 2022 9:31pm Jul 21, 2022 9:31pm
Quoting Pat Chiko
{quote} What we are looking at in overall US Econ. This will lessen the the value of foreign revenue for American companies when it is converted into U.S. currency. importers look to alternative sources of goods. cont/-

The dollar is now up 11 percent versus the euro,
It is also up 13 percent against the British pound,
20 percent against the Japanese yen,
and 6 percent against the Chinese renminbi.

Fed’s hike rates are partially responsible for the rising value of the dollar, while currency traders are seeking safety in U.S. currency and assets at a time of geopolitical instability.

Most U.S. firms protect their earnings from volatility in global monetary markets by purchasing items like currency swap forward contracts to exchange currency at a fixed rate.

But the rapid rise in the dollar has put many of them off-guard.

Time to slow down the heat ?
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #671,004
  • Jul 21, 2022 9:39pm Jul 21, 2022 9:39pm

Everyone knows books are the source of knowledge.

Always feed your brain.


Attached Image (click to enlarge)
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #671,005
  • Jul 21, 2022 10:17pm Jul 21, 2022 10:17pm
Quoting Pat Chiko
Everyone knows books are the source of knowledge. Always feed your brain. {image}
Mental clutter is big in trading activities.

Intraday only.
  • #671,006
  • Jul 21, 2022 10:24pm Jul 21, 2022 10:24pm
Quoting Pat Chiko
{quote} GU Scalping status update. Positive outlook Price is going to reach target next week with final selection of PM is near. Hope not Truss, as Fantasy Brexit followed by fantasy economics. {image}
Yesterday, was quite a hectic day but was also kinda boring, cause didnt hear much from my guru!
More time in the market, does not mean you trade better!
  • #671,007
  • Jul 21, 2022 10:39pm Jul 21, 2022 10:39pm
Quoting Pat Chiko
{quote} GU Scalping status update. Positive outlook Price is going to reach target next week with final selection of PM is near. Hope not Truss, as Fantasy Brexit followed by fantasy economics. {image}
GU

Good place to add position ?.

Attached Image (click to enlarge)
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #671,008
  • Jul 21, 2022 10:44pm Jul 21, 2022 10:44pm
Quoting BigNumbers
Uj short sl 137.510 tp 136.555

If you really look at the chart ( just bare/naked chart), simplicity telling you not to sell there

Basic rules in Chart reading.

Unless you want to make it complicated, then it's a different story.

Attached Image (click to enlarge)
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #671,009
  • Jul 21, 2022 10:50pm Jul 21, 2022 10:50pm
Quoting Pat Chiko
{quote} GU Good place to add position ?. {image}
GU and EU were tough yesterday and it would have been good to buy but it appears to me they want to hurt bulls again. I am in a buy and I am just hopeful. London holds the keys.
  • #671,010
  • Jul 21, 2022 10:55pm Jul 21, 2022 10:55pm
Quoting Mitiblotch
{quote} GU and EU were tough yesterday and it would have been good to buy but it appears to me they want to hurt bulls again. I am in a buy and I am just hopeful. London holds the keys.
everything depends on last week high and day open today
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  • #671,011
  • Jul 21, 2022 10:57pm Jul 21, 2022 10:57pm
Quoting Pat Chiko
{quote} GU Good place to add position ?. {image}
I'm watching 1.1946 for subtle long entry
Face 'ur fears & tame 'ur greed
  • #671,012
  • Jul 21, 2022 10:59pm Jul 21, 2022 10:59pm
1950/55/57 to hold and test the top again.

London open to be sell trade.

Then later buy..may be in NY session.

This is only analysis/guess.

I will see the chart and trade though.
Intraday only.
  • #671,013
  • Jul 21, 2022 11:02pm Jul 21, 2022 11:02pm
Quoting Mitiblotch
{quote}

GU and EU were tough yesterday
Not necessary, Waveskie, Moty and Navk were making money yesterday. Cannot generalize statement like that.
Individually each traders are on their own -either easy or difficult days.

and it would have been good to buy but it appears to me they want to hurt bulls again.
I don't know what you're talking about.
BTW, please clarify what do you mean by that "they want to hurt bulls again" ?

I am in a buy and I am just hopeful. London holds...
Please clarify.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #671,014
  • Edited 11:31pm Jul 21, 2022 11:08pm | Edited 11:31pm
Quoting Pat Chiko
{quote} Please clarify.
The whipsaw; in both pairs. There was no follow through to any of the spikes both up and down. Exams can be tough yet people pass. So being tough doesn't stop people making money. I have had tough days where I still made money. Usually with my busy schedule I could glance at the chart for few minutes or even seconds and know what to do. Yesterday I was too busy and should not have bothered to trade but did and got handed a loss I didn't like.

My worry about bulls on GU is that about 63% were long as at last night when I checked and that usually doesn't go well and that's the eason I made the statement, "it appears to me..." For EU there was a bit of a balance of 52% long to 48% shorts. This statistics is from fxssi.com; I check it once in a while.

London usually has the highest trade volume per day so they would be the ones to decide if buyers hit stop loss which they placed in an obvious place. If London buys then we can break Asia's high, if they sell then bulls will be gone quick.
  • #671,015
  • Jul 21, 2022 11:11pm Jul 21, 2022 11:11pm
My answers :

1) It was tough as the PA was just random. Too many ups and downs and too fast. Normal indicators will not work. Reading chart and trading price action with help of candles + Momentum could work.

2) Yesterday was deep sell candle.

So, the sellers will be interested to go in that direction again. ( As i have been seeing all these days )

3) Buy may be preferable after London open rush settles down.

All these are assumptions/ analysis. This is always wrong to me.

Seeing PA and trading accordingly works for me.
Intraday only.
  • #671,016
  • Jul 21, 2022 11:22pm Jul 21, 2022 11:22pm
If one practices Candle open of 60 min, 240 min, 1440 min + Momentum, it would be easier on a long term basis.

Additionally, a support/resistance/levels can be marked on chart.
Intraday only.
  • #671,017
  • Jul 21, 2022 11:26pm Jul 21, 2022 11:26pm
Looking at the daily I see a kind of inverted H&S so I want to believe that 1898 will hold for a rise to 1.2100 area. So most likely attacks to 1900 will be bought up. I traded like a rookie yesterday. So currently I have just closed my GU longs in a loss. I will see on Monday or if price comes near 1900 I will hunt for buys. I don't like being in a position where I am hoping.

Good luck and good morning to everyone.
  • #671,018
  • Jul 21, 2022 11:40pm Jul 21, 2022 11:40pm
Quoting Mitiblotch
Looking at the daily I see a kind of inverted H&S so I want to believe that 1898 will hold for a rise to 1.2100 area. So most likely attacks to 1900 will be bought up. I traded like a rookie yesterday. So currently I have just closed my GU longs in a loss. I will see on Monday or if price comes near 1900 I will hunt for buys. I don't like being in a position where I am hoping. Good luck and good morning to everyone.
everything depends on uk data today

fed rate hike date : july 27
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  • #671,019
  • Jul 21, 2022 11:46pm Jul 21, 2022 11:46pm
Quoting PatienceFx
{quote} everything depends on uk data today fed rate hike date : july 27 {image}
Yes, I just looked at the calendar few minutes ago. Heavily loaded data day.
  • #671,020
  • Jul 21, 2022 11:47pm Jul 21, 2022 11:47pm
GBPUSD 15 min chart: double top so I upload 2 images
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