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Cable Update (GBPUSD)

  • #680,321
  • Sep 2, 2022 5:13am Sep 2, 2022 5:13am
Quoting bilal1947
Time to pay the trader a bit: {image}
patience pays
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  • #680,322
  • Sep 2, 2022 5:15am Sep 2, 2022 5:15am
Missed that move up.. Lets hope it retraces, so I can join the bull ride!!!

What we want NFP, when do we want it... NOW!
Don't trade what you think. Just what you see!!!
  • #680,323
  • Sep 2, 2022 5:16am Sep 2, 2022 5:16am
Quoting Theoak
Missed that move up.. Lets hope it retraces, so I can join the bull ride!!! What we want NFP, when do we want it... NOW!
i already got a and holding into rooots since early
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  • #680,324
  • Sep 2, 2022 5:18am Sep 2, 2022 5:18am
Quoting buffedmage
{quote} i already got a and holding into rooots since early
Got the first break out, took the Buggs Bunny missed the second one, but was more involved in EUR Flying!!!
Don't trade what you think. Just what you see!!!
  • #680,325
  • Sep 2, 2022 5:22am Sep 2, 2022 5:22am
Quoting PatienceFx
NFP last nfp was huge because inflation trimmed current nfp should also be good so usd strength september we have a 50 bps hike announced overall current nfp move should be average with usd selling before weekend to book profits lets see what cooks
ADP employment change showed there might be a less than consensus NFP report which may be around 270-250K.

Yet, even tho NFP less than consensus, Powell's speech at JHS mentioned clearly about the hike to mitigate inflation at the cost of growth outlook and labor market.
Technically, i think money market has priced in around 70% for a 75bps hike.
With US10Y still holding above 3.2%, while DXY falling,
On NFP release, we might see GU falling

In short, everything is mixed today.
More time in the market, does not mean you trade better!
  • #680,326
  • Sep 2, 2022 5:31am Sep 2, 2022 5:31am
and again gbpusd testing my patience
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  • #680,327
  • Sep 2, 2022 5:37am Sep 2, 2022 5:37am
USD should goes bullish from here usually, but its Friday and after 2 hrs NFP, market will go quiet so closing positions is a better call.
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"Exchange of hands"
  • #680,328
  • Sep 2, 2022 5:40am Sep 2, 2022 5:40am
yea...i also feel same .....lets see ... already holding the buy ....still hasnt reached my red line yet ..i will be happy if that breaks
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  • #680,329
  • Sep 2, 2022 5:44am Sep 2, 2022 5:44am
Quoting knkie
{quote} Price is above Day Open But Price is also below yesterdays Open-Close 50% level this signals indecision in the market so both sides can get caught out
My trading plan for today is to buy around 1.152 area.
I believe the big money is there, most of the time that I try to sell/buy to the place that I want to buy/sell never work.
why am I doing it? Itchy fingers
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  • #680,330
  • Sep 2, 2022 5:46am Sep 2, 2022 5:46am
Quoting buffedmage
{quote} indicators alwys lags

lagging mean slow right?

do you want to be trading current price ?
to be successful you need to have some form of past data to trade and thats what indicator does it collect past data and give u clue
if you trade support and resistance, supply and demand they also lag cus they wait for period of time to be confirmed and give u clue of what u should do.
MY OPINION NOT FINANCIAL ADVISE
  • #680,331
  • Sep 2, 2022 5:52am Sep 2, 2022 5:52am
Gbpchf short at 1.13600. Tp 1.13
  • #680,332
  • Sep 2, 2022 5:59am Sep 2, 2022 5:59am
Quoting donfriday
{quote} lagging mean slow right? do you want to be trading current price ? to be successful you need to have some form of past data to trade and thats what indicator does it collect past data and give u clue if you trade support and resistance, supply and demand they also lag cus they wait for period of time to be confirmed and give u clue of what u should do.
the other reason i hate indicators is because it considers market noise into calculations...which gives wrong signals...while support nd resistance is based on historical /past and individual perception of market levels
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  • #680,333
  • Sep 2, 2022 6:01am Sep 2, 2022 6:01am
Quoting Theoak
Missed that move up.. Lets hope it retraces, so I can join the bull ride!!! What we want NFP, when do we want it... NOW!
Long in at 1.1567
Don't trade what you think. Just what you see!!!
  • #680,334
  • Sep 2, 2022 6:02am Sep 2, 2022 6:02am
Quoting Theoak
Missed that move up.. Lets hope it retraces, so I can join the bull ride!!! What we want NFP, when do we want it... NOW!
NFP looks like it will knock cable out of the ground.. as someone with a long trade I’m shitting it lol
Insane in the Brain..
  • #680,335
  • Sep 2, 2022 6:04am Sep 2, 2022 6:04am
Quoting buffedmage
{quote} the other reason i hate indicators is because it considers market noise into calculations...which gives wrong signals...while support nd resistance is based on historical /past and individual perception of market levels

you dont need it actually

but it does work if u take time to study it and set rules of do and dont but truth you dont need it to make money..
MY OPINION NOT FINANCIAL ADVISE
  • #680,336
  • Sep 2, 2022 6:05am Sep 2, 2022 6:05am
Quoting BeeTogether
{quote} NFP looks like it will knock cable out of the ground.. as someone with a long trade I’m shitting it lol

i will buy it low if it knock it down
MY OPINION NOT FINANCIAL ADVISE
  • #680,337
  • Sep 2, 2022 6:10am Sep 2, 2022 6:10am
Quoting BeeTogether
{quote} NFP looks like it will knock cable out of the ground.. as someone with a long trade I’m shitting it lol
Lol... I'm in a public bus and caught myself laughing reading this. Hahahaha
  • #680,338
  • Sep 2, 2022 6:16am Sep 2, 2022 6:16am
Quoting BeeTogether
{quote} NFP looks like it will knock cable out of the ground.. as someone with a long trade I’m shitting it lol
I dont see it, we can get a new low, but it only trigger more buys.
  • #680,339
  • Sep 2, 2022 6:19am Sep 2, 2022 6:19am
Quoting Whale
{quote} I dont see it, we can get a new low, but it only trigger more buys.

yep
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  • #680,340
  • Sep 2, 2022 6:27am Sep 2, 2022 6:27am
US Bank holiday on Monday.

Trade upto London open on Monday
Intraday only.
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