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Cable Update (GBPUSD)

  • #676,381
  • Aug 17, 2022 1:31pm Aug 17, 2022 1:31pm
GU is waste of time ATM.
eventually it will drop, but the setup is so ugly and i will not risk money on it.

week, two, i have time for buy it comfy
  • #676,382
  • Aug 17, 2022 1:33pm Aug 17, 2022 1:33pm
Cable shorting again at 1.20822
  • #676,383
  • Aug 17, 2022 1:34pm Aug 17, 2022 1:34pm
xau is crazy
IgorFX
  • #676,384
  • Aug 17, 2022 1:37pm Aug 17, 2022 1:37pm
Closed all longs at 1.21800 area
Dx is at support zone and with a open gap
I am satisfied with 85 $ profit
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yes yes yes
  • #676,385
  • Aug 17, 2022 1:40pm Aug 17, 2022 1:40pm
Quoting ScalaFX
{quote} All longs closed already before Fomc and placing shorts now till 2080
Added 2085
People don't plan to lose. They lose because they don't plan.
  • #676,386
  • Aug 17, 2022 1:41pm Aug 17, 2022 1:41pm
Quoting Moty
Closed all longs at 1.21800 area Dx is at support zone and with a open gap I am satisfied with 85 $ profit {image} {image} {image}
Did I miss something did gu reach 2180 Wednesday
average dude treading water
  • #676,387
  • Aug 17, 2022 1:42pm Aug 17, 2022 1:42pm
Gold short at 1770
  • #676,388
  • Aug 17, 2022 2:08pm Aug 17, 2022 2:08pm
Hello, having a quiet week's trading. Just a quick mid-week post.

Today's current hi @ Dly R1 and 50% of the recent 2776-2008 fall in a prev 1hr x3/4hr x 1 sw hi zone....Today's current lo @ Dly S1/Wkly S1 area, and 85.4% of said 2008-2143 move up, in the 4hr part of a prev 1hr x2/4hr x1 sw lo zone = prev supp = pot supp. The post fomc minutes rise to the day's current main move fall's current p/back hi came @ 50% of that fall, and in a prev 1hr sw lo zone = prev supp = pot sbr.

Those Mthly pinbar buyers who bought July's pinbar candle close on hat t/f @ circa 2195 or more are still waiting to see a sustained upside follow thru. Their stops probably under that pinbar's 1759 lo, or even under 1410? Mthly & Wkly in general downtrends

Dly t/f ranging between 2293 and 2003 recent hi and lo with what is a LH @ 2276 and what may well turn out to be a HL on close of today's dly candle @ 2008. HH, L, LH, and a possible HL the last 4 fractal prints on that t/f if that possible firms up as such with today's dly candle close. 1hr & 4hr currently in general downtrends.

1hr, then mthly, below
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Trader with an Edge.
  • #676,389
  • Aug 17, 2022 2:08pm Aug 17, 2022 2:08pm
Quoting Houtbay
Gold short at 1770
don't know about u but im takin 30 pips
IgorFX
  • #676,390
  • Aug 17, 2022 2:09pm Aug 17, 2022 2:09pm
Quoting ScalaFX
Brother or cable, if this want to take out that cable will be dumped too some, lets see, half our EUR/USD: EUR amounts NY session 1.0075 297m 1.0100-10 1.13b 1.0115-20 336m 1.0150 394m 1.0175 367m 1.0190-00 727m
Seen too many times option purchase price expire without price returning to the expected price.

I have experienced this in my previous job, guess is the same principal used in forex option trading.
As a business, there are many option deals you could choose from.
Some of them are fixed at market expiry rate, some are fixed to banks given estimated time and price (Vanilla option).
So if you buy 3mln Euros as an option contract in January at 1.1350, bank offers you a future dated rate for 7 months at 1.0100. Option contract will gat validated on the closing of agreed date at 1.0100. If EU is lower then the banks will loose on exchange difference, closes higher, banks will gain, as they initial offer was 1.1350. Sometimes is wise to purchase at spot instead of placing option contracts, banks estimated prediction pretty good.
Many variations are available, vanilla is most used as it is less risky.
  • #676,391
  • Aug 17, 2022 2:10pm Aug 17, 2022 2:10pm
Quoting Moty
Closed all longs at 1.21800 area Dx is at support zone and with a open gap I am satisfied with 85 $ profit {image} {image} {image}
I know this mf
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yes yes yes
  • #676,392
  • Aug 17, 2022 2:13pm Aug 17, 2022 2:13pm
Oh yes!! Tomarrow my target 11960 will be hit
People don't plan to lose. They lose because they don't plan.
  • #676,393
  • Aug 17, 2022 2:17pm Aug 17, 2022 2:17pm
Quoting Reverso
The drop beyond the pivot looks convincing, I took Short, 2nd trade for the day. Entry 1.20471, SL 1.20826, TP 1.19938. I would monitor and keep an Alarm if price reversed and reached 1.20626, I might want to exit prematurely and switch to Long, a close at around that 1.20626 will mean V shaped recovery to the upside and bounced off support. EDIT: the chart could also be interpreted as, the green candle with long up wick that caused my 1st SL today, didn't managed to close above Pivot, subsequent candles are all red until 1 of the red candle gave...
Well, lesson learnt, added rules to further enhance my system.

After hit 2 SL in a row, in other words it just means market is not trending and reversing at support/resistance, causing the SL.
Then need to draw recent support/resistance zone and trade the range until any of it breaks and continue trending, then switch back to using system.

The 2 trades marked with Magenta color shouldn't have taken, adding 2 unnecessary SL, should've drew the support/resistance and wait for bounce off them to trade.

And then I would have gotten the V shape recovery bounce off support 1.5 hours before the FOMC, entering there with RR ratio 1.5 would have already TP (marked with purple color), ending my 2 SL lose streak, unlike currently I entered AFTER FOMC, making SL and TP much wider, who knows if it end up losing steam like the Good CPI figures earlier today then hit my SL? That will be 5 SL in a row, unprecedented, hope it will not come to this.

Still positive for this month though, I can't complain too much.
Support area = 1.20080 - 1.20358, resistance area = 1.21095 - 1.21426, just in case it helps anyone.
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https://www.myfxbook.com/members/NGplus/freedom-you-deserve/11268620
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  • #676,394
  • Aug 17, 2022 2:21pm Aug 17, 2022 2:21pm
The news was stupid , just to go up and trap more buying then back all the way down
  • #676,395
  • Aug 17, 2022 2:25pm Aug 17, 2022 2:25pm
Quoting Pat Chiko
{quote} GU Closed long. Scalp Short on spike {image}
GU

UK new record for inflation at historic high
It turned out to be even higher than 10%, which is a level that has not been seen for more than 40 years, MOM July inflation is 10.1%.
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #676,396
  • Aug 17, 2022 2:51pm Aug 17, 2022 2:51pm
Quoting Moty
{quote} I know this mf {image}
Gu dropped 40 pips since my alert
If i stayed in my positions,i would loss all of my profit
Instead,i won some money in short eu
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yes yes yes
  • #676,397
  • Aug 17, 2022 2:53pm Aug 17, 2022 2:53pm
Quoting Pat Chiko
{quote} GU UK new record for inflation at historic high It turned out to be even higher than 10%, which is a level that has not been seen for more than 40 years, MOM July inflation is 10.1%. {image}
I'm also short from this morning opened just after the inflation news. I'm targeting even lower level 1.185 but will see how it goes
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  • #676,398
  • Aug 17, 2022 3:21pm Aug 17, 2022 3:21pm
Quoting Tronis
{quote} I'm also short from this morning opened just after the inflation news. I'm targeting even lower level 1.185 but will see how it goes {image}
Also some sell trades on the other account. Considering of closing one at the recent bottom.
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  • #676,399
  • Aug 17, 2022 3:21pm Aug 17, 2022 3:21pm
Quoting ScalaFX
Oh yes!! Tomarrow my target 11960 will be hit
ScalaFX, you have no mercy for long positions bc if this happens we can see 1.18
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Always trade your own plan...I don't provide trading signals.
  • #676,400
  • Aug 17, 2022 3:25pm Aug 17, 2022 3:25pm
Quoting Coreg2004
{quote} ScalaFX, you have no mercy for long positions bc if this happens we can see 1.18 {image}
Considering this, exactly 183x
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People don't plan to lose. They lose because they don't plan.
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