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Cable Update (GBPUSD)

  • #676,721
  • Aug 18, 2022 1:29pm Aug 18, 2022 1:29pm
Quoting Mitiblotch
{quote} Bears are taking no prisoners. I feel bad not getting in on trading this pair today. The short was as clear as daylight ad I have been saying since last week. A reprieve for bulls is 1926 (weekly support 2) and then 1900 (round humber). Breaking these leads straight to 1850. If price wants to continue traveling down then you'll start hearing bad news with Russia and Ukraine and Fed speakers with leaking mouths.

Yeah im in trouble all it will take is ...talk of radioactive leak and im toast..I cannot believe how i had such a strong conviction of dollar strength and then got influenced to trade differently cause of war.
The war emotionally impaired me
  • #676,722
  • Aug 18, 2022 1:31pm Aug 18, 2022 1:31pm
Tomorrow, especially in NY session, people are invited to wipe out their trading account by going counter trend trading.

Intraday only.
  • #676,723
  • Aug 18, 2022 1:31pm Aug 18, 2022 1:31pm
It certainly did not exceed its daily volatility (100-130 points). But it has already fallen so much in a week, including last Friday. The pound data is not as bad as expected. The interest rate for the pound will rise even more. It's more than USD to blame, I see it that way.
IgorFX
  • #676,724
  • Aug 18, 2022 1:40pm Aug 18, 2022 1:40pm
Quoting Theoak
{quote} Not saying they work for me, but if they can be used as a tool in some way then what's the problem. I think as an indicator there not one of the worst. On a 5min chart if I'd used 21 or 12 ma as my trailing stop I'd still be in the trade. Lets see what happens when the 21 ma is broken on 5min chart!!! Reverso - you asked about a book. Well watch what happens!!!
Theoak, any m.avg's in trending market are useful.
Always trade your own plan...I don't provide trading signals.
  • #676,725
  • Aug 18, 2022 1:42pm Aug 18, 2022 1:42pm
...could see some more £ pressure tomorrow with the release of Uk retail sales data, if like all recent uk data, it isn't up to much? Conversely, we could see some relief for the £ bulls if the figures surprise to the upside, but to what extent and how long that will last in the current overall fundie environment is any boby's guess. As Navin says above though, and specifically and perhaps maybe most pressingly, this assumes no big probs re that nuclear plant. (Reportedly those pesky ruskies have told the staff not to come to work tomorrow?)

Look @ that last 4hr close on the chart below! (gmt+3 chart feed.)
10/20/50 ema crosses across the t/f's are currently as below.

4hr below
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Trader with an Edge.
  • #676,726
  • Aug 18, 2022 1:42pm Aug 18, 2022 1:42pm
Quoting keyman.
It certainly did not exceed its daily volatility (100-130 points). But it has already fallen so much in a week, including last Friday. The pound data is not as bad as expected. The interest rate for the pound will rise even more. It's more than USD to blame, I see it that way.
keyman, today's range is 160.3 pips.
Always trade your own plan...I don't provide trading signals.
  • #676,727
  • Aug 18, 2022 1:46pm Aug 18, 2022 1:46pm
There is likely pullback above 1921 for decent 60 pips.
Intraday only.
  • #676,728
  • Aug 18, 2022 1:48pm Aug 18, 2022 1:48pm
Quoting navk
Tomorrow, especially in NY session, people are invited to wipe out their trading account by going counter trend trading.
I hope that we can see another big red candle tomorrow. Enough is never enough

Good luck to everyone though, who knows, it can pullback as well.
You have to have an IQ higher than 90 to interact with this user.
  • #676,729
  • Aug 18, 2022 1:56pm Aug 18, 2022 1:56pm
Quoting navk
Tomorrow, especially in NY session, people are invited to wipe out their trading account by going counter trend trading.
That’s so true! I’m tempted to let the long from 12010 run till tomorrow. Potentially a long start if we don’t see a break below 119. But we are scrapping that bottom of the support area. If it goes we are going down quicker than Pamela Anderson on Tommy Lee!
Insane in the Brain..
  • #676,730
  • Aug 18, 2022 1:57pm Aug 18, 2022 1:57pm
Do you know this feeling, when you make money but you cant feel happy, because you could have made more?

That's definitely me today, although i made some good pips here, also on the GBPJPY. I took the first entry yesterday and kept all trades till NY Open and first i thought i got the perfect exit (take a look), but than i saw i missed another >60 Pips ...
For me today was not one serious BULL Sign, especially if you look at the bad macro and the bad TA in general. We have a Downtrend and GBPUSD has trouble really keeping the price up constantly (like you saw yesterday). Thats the reason i added two SHORT Pos. today.
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Now i have a really small LONG left, just to grap some 20-30 Pips ovn some retracement. The 23.6 Fibo from today is coincidentally the S2 at 1.1960. That will be my target.
  • #676,731
  • Aug 18, 2022 2:00pm Aug 18, 2022 2:00pm
interesting, what will it do on its news tomorrow
IgorFX
  • #676,732
  • Aug 18, 2022 2:01pm Aug 18, 2022 2:01pm
...a quick look at the mthly, and am feeling for those July pinbar close buyers ...but still within their likely stops under 1759, or even 1410. Speaking of 1410...big wide prev mthly sw lo zone down to 1410. There may be some wkly/dly triggers develop in there if price drops deeper or stays above current yrly lo even, for a longer-term long, but not sure fundies currently support such a move. Whatever, shorter-term traders might be better timing entry on1hr from prev 4hr sw hi or lo zones between 1759 and 1410 if it does drop and result in a new current yrly lo.

Wkly candle not currently looking healthy for the bulls, but it's not closed yet, so anything can happen tomorrow - last trading day of week.

Mthly below
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Trader with an Edge.
  • #676,733
  • Aug 18, 2022 2:01pm Aug 18, 2022 2:01pm
️ only say, wow fuck head american got pw, even with bad data. thx for more money
  • #676,734
  • Aug 18, 2022 2:03pm Aug 18, 2022 2:03pm
Long in..tp 1960
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  • #676,735
  • Aug 18, 2022 2:07pm Aug 18, 2022 2:07pm
Quoting navk
{quote} Indicators look nice once PA is done.
They looked nice also before
I am the stupid that took tiny 27 pips from 136 pips move
I am the stupid that tried to catch dangerous pips in the retracement , and i am the one that lose all of its profit and in a situation to get wipe out with my account.
The indicators gave all the data that i needed, it is me who decided to ruined it all up
yes yes yes
  • #676,736
  • Aug 18, 2022 2:08pm Aug 18, 2022 2:08pm
Crooky retracement
Mf , they fooled me again
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yes yes yes
  • #676,737
  • Aug 18, 2022 2:10pm Aug 18, 2022 2:10pm
Price is above the slaw ma , i need a cross
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yes yes yes
  • #676,738
  • Edited 2:25pm Aug 18, 2022 2:14pm | Edited 2:25pm
....assuming current 1923 dly lo holds, (@ wkly s2,) 2001-12 is a 5 fib cluster. Same again @ 2057-69.
Trader with an Edge.
  • #676,739
  • Aug 18, 2022 2:17pm Aug 18, 2022 2:17pm
This inverted HS on the daily will either fail or the right shoulder will be much lower.
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  • #676,740
  • Aug 18, 2022 2:34pm Aug 18, 2022 2:34pm
Quoting Mitiblotch
This inverted HS on the daily will either fail or the right shoulder will be much lower. {image}
letz go lol

UPD: sorry for this crooked art)
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IgorFX
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