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Cable Update (GBPUSD)

  • #677,941
  • Aug 24, 2022 4:44am Aug 24, 2022 4:44am
Gold tp 1745
  • #677,942
  • Aug 24, 2022 4:49am Aug 24, 2022 4:49am
First target for me today is daily s1
Intraday only.
  • #677,943
  • Aug 24, 2022 4:54am Aug 24, 2022 4:54am
Quoting Yngwie
Let see. sold 1823 SL 1850
Done
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #677,944
  • Aug 24, 2022 4:55am Aug 24, 2022 4:55am
Quoting eyefeelsix
{quote} if 1.1700 broken I'm done with GU for this month {image}
currently long add @1.1800 --- buy limit @1.1775
https://breakpullback.com
  • #677,945
  • Aug 24, 2022 4:56am Aug 24, 2022 4:56am
Short at 1.1805
SL above last two 15M candles

Finally London did it's stupidity and now there should be some action two hours before NY open. Hm..
Attached Image (click to enlarge)
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  • #677,946
  • Aug 24, 2022 4:58am Aug 24, 2022 4:58am
Look @ the four hour Rejection on yearly low. anything below 1.1785 is buy for me. waiting for the Price action below the price
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 15 KB
Read the chart... Fundies are catalyst...
  • #677,947
  • Aug 24, 2022 5:01am Aug 24, 2022 5:01am
Is everyone having a wonderful time?
  • #677,948
  • Aug 24, 2022 5:02am Aug 24, 2022 5:02am
Quoting Reverso
Kind of a no-brainer Short by looking at the price action, repeatedly rejected off the upper key level then finally followed by a very clear bearish engulfing, coupled with fizzled bullish momentum from yesterday. Entry 1.18087, SL 1.18368, TP 1.17665 I could have waited it to go down further to break the daily pivot then only take the short, but the TP target would have been a bit risker due to a support level nearby near the lowest low in recent days. By entering now, my TP can hit sooner and avoid risk of rejected off that lowest low support....
For a 2nd thought, I exited prematurely with a small profit.

I prefer for it to properly close below pivot then take the Short, so in case I am wrong and hit SL, I would still be able to re-enter Long after it closed above the upper end of daily pivot. I would have no chance for re-entry if I hit SL for the trade that I entered earlier than my system permits me.

The risk is there for price to bounce back at the end of the pivot, a bounce there also means reject off lower key level, it is risky for a Short if it materialized.
Better stick to system, even if it means a later entry and a lower price to sell, truth is no one knows where price go, it might not close below my level and reverse up.
https://www.myfxbook.com/members/NGplus/freedom-you-deserve/11268620
Freedom you deserve. All Time Return: 50.4%
  • #677,949
  • Aug 24, 2022 5:04am Aug 24, 2022 5:04am
Quoting Theoak
{quote} Just wondering Bud, Why do you think Bulls are coming?
dxy likely to go down
  • #677,950
  • Aug 24, 2022 5:05am Aug 24, 2022 5:05am
Quoting Houtbay
Is everyone having a wonderful time?
We'll see if London takes our money or donates, still early to tell. Hope you're having one after that Gold TP.

And while I was writing this Pound slides down . Awesome.
  • #677,951
  • Aug 24, 2022 5:06am Aug 24, 2022 5:06am
Again no action, only 2 hours before ny open. Always the same story.
  • #677,952
  • Aug 24, 2022 5:10am Aug 24, 2022 5:10am
Quoting Matej.FX
Short at 1.1805 SL above last two 15M candles Finally London did it's stupidity and now there should be some action two hours before NY open. Hm.. {image}
Took this small profit. I am waiting for NY anyway so any extra money I earn in the morning is awesome. I actually TP because 15M candle didn't leave a wick which is odd to me, but this could be a major screw up by me to leave the trade. Whatever, see you later after NY open. Profit is a profit.
  • #677,953
  • Aug 24, 2022 5:10am Aug 24, 2022 5:10am
Quoting navk
First target for me today is daily s1
short booked already.

i have changed my idea.

9 am 4 hr candle i will buy.
Intraday only.
  • #677,954
  • Aug 24, 2022 5:11am Aug 24, 2022 5:11am
Quoting Pat Chiko
{quote} Hi Bro. Can I go Short Scalp a bit ?. Any chance winning ?. I need to wait to borrow Moty's Hammer...........

GU

We might still be bearish.
Don't lose focus.
The last aggressive buy only presents more opportunities to make money in the market.
Utilise it.

Pound bulls turn hesitant ahead of key events.
Interim resistance seems to have formed at 1.1850. (gap area)
Watching pre-event movement (Powell's Friday speech).
The implication here is that I expect the market to go into Powell's Friday speech with the USD high a.
May be that the market can still raise for GBPUSD to sell better, filling up the gap for liwqudity.

Attached Image (click to enlarge)
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Attached Image (click to enlarge)
Click to Enlarge Name: gu 367.jpg Size: 167 KB
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #677,955
  • Aug 24, 2022 5:17am Aug 24, 2022 5:17am
Quoting Pat Chiko
{quote} GU We might still be bearish. Don't lose focus. The last aggressive buy only presents more opportunities to make money in the market. Utilise it. Pound bulls turn hesitant ahead of key events. Interim resistance seems to have formed at 1.1850. (gap area) Watching pre-event movement (Powell's Friday speech). The implication here is that I expect the market to go into Powell's Friday speech with the USD high a. May be that the market can still raise for GBPUSD to sell better, filling up the gap for liwqudity. {image}{image}
If that RSF Support zone(TP zone) dont hold, next support Qm?
More time in the market, does not mean you trade better!
  • #677,956
  • Aug 24, 2022 5:20am Aug 24, 2022 5:20am
Quoting Reverso
Kind of a no-brainer Short by looking at the price action, repeatedly rejected off the upper key level then finally followed by a very clear bearish engulfing, coupled with fizzled bullish momentum from yesterday. Entry 1.18087, SL 1.18368, TP 1.17665 I could have waited it to go down further to break the daily pivot then only take the short, but the TP target would have been a bit risker due to a support level nearby near the lowest low in recent days. By entering now, my TP can hit sooner and avoid risk of rejected off that lowest low support....
Got my entry shortly after, entered Short, a safe Short, with a not so safe TP, the TP is not completely beyond the support zone, but it is within the support zone.
Price normally dont bounce off exact level that you expect, let market decide my fate.

Entry 1.17943, SL 1.18185, TP 1.17579
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 14 KB
https://www.myfxbook.com/members/NGplus/freedom-you-deserve/11268620
Freedom you deserve. All Time Return: 50.4%
  • #677,957
  • Aug 24, 2022 5:21am Aug 24, 2022 5:21am
GBP

In case you’re wondering why the GBP British pound is taking a beating.
Energy (gas, oil) and commodities (food, metals) are priced in dollars so every 1% drop in the pound adds to cost of living crisis.

And to make it interesting, UK money printing has gone through the roof.
The Bank of England’s reserve balance, which is increased to finance quantitative easing - £954 billion on 17 August - an increase of almost £500bn since January 2020.
This isn’t sustainable.
It devalues and causes inflation.

If GBP/USD break below the 1.1760 July low to clear the way towards 1.15.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp money print.jpg Size: 48 KB
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #677,958
  • Aug 24, 2022 5:21am Aug 24, 2022 5:21am
Quoting navk
{quote} short booked already. i have changed my idea. 9 am 4 hr candle i will buy.
We might have booked too early..
  • #677,959
  • Aug 24, 2022 5:22am Aug 24, 2022 5:22am
Quoting Whale
Buy stop 1.1838 10 pips sl if trigger {image}
Cancelled after asian low taken.
Bought 1.179 sl 1.17715
Attached Image (click to enlarge)
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  • #677,960
  • Aug 24, 2022 5:25am Aug 24, 2022 5:25am
Quoting Theoak
{quote} Date it; Don't marry it!!!
too too late. 49 years now

juast come to the table with short @ 1.1790 T/P 1.1750
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