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Cable Update (GBPUSD)

  • #676,581
  • Aug 18, 2022 7:47am Aug 18, 2022 7:47am
Quoting BeeTogether
{quote} I’m surprised we had the strong up move considering how a pile the Uk economy is
UK facing reality, everything on the table. US strengthening dollar to knock fuel prices. This not going to work for long, winter in 3 months, dollar will weaken.
GU Oil
  • #676,582
  • Aug 18, 2022 7:50am Aug 18, 2022 7:50am
scalp to the untested OB
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  • #676,583
  • Aug 18, 2022 7:50am Aug 18, 2022 7:50am
Quoting GODofMC
Not really a big move despite really good data, is it normal for this news? I think i'll wait for clearer direction, and scalp 2 -5 pips out of it
Hitting some lower support, so hopefully will bounce back up. If it breaks I'm out!
Don't trade what you think. Just what you see!!!
  • #676,584
  • Aug 18, 2022 8:00am Aug 18, 2022 8:00am
Quoting Reverso
{quote} Ongoing Long doing well now, the US high impact news is coming soon about 20 mins, a few points I noticed: 1. Looking back at market reaction in the past due to the news release, price will react quite violently for this news. 2. So far 10 out of recent 15 news releases are bad for USD (good for GBPUSD), I can only assume the coming release will be bad for US as well, which might pump GU to my TP. We'll see. {image} {image}
Well, not sure what to feel about this, the red news is good for US, but the dump in GU was not sharp, it even tries to climb back up now, I am still in slight profit for my ongoing Long.

Nothing make sense anymore in this week I guess?
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  • #676,585
  • Aug 18, 2022 8:00am Aug 18, 2022 8:00am
Quoting Theoak
{quote} Hitting some lower support, so hopefully will bounce back up. If it breaks I'm out!
High impact news didnt act like this, usually break any S/R fast unless mixed data, im waiting it down based on news, but look like it has unfinished bussiness up there.

Quoting Reverso
{quote} Well, not sure what to feel about this, the red news is good for US, but the dump in GU was not sharp, it even tries to climb back up now, I am still in slight profit for my ongoing Long. Nothing make sense anymore in this week I guess?
I though it was just me
10000% Wannabe . -$3000 & -$4000
Gold Recovery All Time Profit: -$3,961
  • #676,586
  • Aug 18, 2022 8:03am Aug 18, 2022 8:03am
The whole day, I was in UJ short.

Not traded gu today.

Until now fine.
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Intraday only.
  • #676,587
  • Aug 18, 2022 8:06am Aug 18, 2022 8:06am
Quoting Theoak
{quote} Hitting some lower support, so hopefully will bounce back up. If it breaks I'm out!
OAKY, i believe it will drop to 1.18X eventually
  • #676,588
  • Aug 18, 2022 8:09am Aug 18, 2022 8:09am
Quoting GODofMC
{quote} High impact news didnt act like this, usually break any S/R fast unless mixed data, im waiting it down based on news, but look like it has unfinished bussiness up there.
Well I'm 7 pips in a hole and not sure what to do. That news was bad and as such the fundamentals of this pair has changed.

Looked again its turned I'm out 13 pip loss. Can't ignore the fundamentals!!!
Don't trade what you think. Just what you see!!!
  • #676,589
  • Aug 18, 2022 8:10am Aug 18, 2022 8:10am
Quoting JereMi256
I have shorts @1.2069 I still have hopes of a bigger drop. Will add higher
Added 1.2040

The longer we stay here, the more i add...
Savage mode!
Partial SL 1.2071
Face 'ur fears & tame 'ur greed
  • #676,590
  • Aug 18, 2022 8:14am Aug 18, 2022 8:14am
the data next week should be a catalyst for GBP/USD

I don't think there is anything good coming out of the U.K. economy in the near-term

it should be safe to sell rallies towards 1.21
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don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #676,591
  • Aug 18, 2022 8:15am Aug 18, 2022 8:15am
After all that drama it dropped!
Honestly, forex feels tiring sometimes
  • #676,592
  • Aug 18, 2022 8:15am Aug 18, 2022 8:15am
Quoting Whale
{quote} OAKY, i believe it will drop to 1.18X eventually
On that news its going down. I see sometimes the market does not react to it, but I can't see how it can't. The USA is doing great according to the figures and the UK is doing, well let say not so great.
Don't trade what you think. Just what you see!!!
  • #676,593
  • Aug 18, 2022 8:16am Aug 18, 2022 8:16am
This is my view. Longs are currently being trapped. Price will hover at this level trapping more longs until price reverses down flushing out longs and then heading up towards levels which reverso has stipulated
  • #676,594
  • Aug 18, 2022 8:17am Aug 18, 2022 8:17am
Quoting Theoak
{quote} Well I'm 7 pips in a hole and not sure what to do. That news was bad and as such the fundamentals of this pair has changed. Looked again its turned I'm out 13 pip loss. Can't ignore the fundamentals!!!
Me too cabt enter this, im just lucky out long at 2064 and 2070
price still in asian range higgs and low
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10000% Wannabe . -$3000 & -$4000
Gold Recovery All Time Profit: -$3,961
  • #676,595
  • Aug 18, 2022 8:23am Aug 18, 2022 8:23am
Quoting GODofMC
{quote} Me too cabt enter this, im just lucky out long at 2064 and 2070 price still in asian range higgs and low{image}
You did good bud. I'm might join the bear ride!!!! I'll let you know if I pull the trigger!!! Lock and Load!
Don't trade what you think. Just what you see!!!
  • #676,596
  • Aug 18, 2022 8:26am Aug 18, 2022 8:26am
Quoting Theoak
{quote} You did good bud. I'm might join the bear ride!!!! I'll let you know if I pull the trigger!!! Lock and Load!
Join the bear party… we’re having a bull picnic starting soon
Insane in the Brain..
  • #676,597
  • Aug 18, 2022 8:29am Aug 18, 2022 8:29am
Quoting Moty
look like price is rejecting {image} {image}
ty once again mister pound
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yes yes yes
  • #676,598
  • Aug 18, 2022 8:29am Aug 18, 2022 8:29am
Quoting BeeTogether
{quote} Join the bear party… we’re having a bull picnic starting soon
BBQ Bull
Tall tails tell tales.
  • #676,599
  • Aug 18, 2022 8:30am Aug 18, 2022 8:30am
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POSTMASTER
  • #676,600
  • Aug 18, 2022 8:31am Aug 18, 2022 8:31am
Quoting Reverso
{quote} Long scenario materialized, bounced off support, entered Long a moment ago, hopefully this ends my losing streak. Entry 1.20466, SL 1.20027, TP 1.21124 {image}
Back into about 40% SL loss now, thinking back now, I guess my head is not fully cleared.
I had many good days, so when suddenly the days become really bad, I suffer in bad decisions.

I shouldn't have taken this Long, the daily pivot is well above the price and has good potential to block the price from going up, which it did today, price unable to clear that pivot and rejected. That should have been a valid Short if I follow trend system.

I think I lack the patience to do nothing in market, knowing I have to switch to range trading is one thing, knowing pivot is up there is another thing, the signals contradicts each other, making the trade less appealing, lesson learnt thru pain.
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