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Cable Update (GBPUSD)

  • #683,501
  • Sep 14, 2022 4:45am Sep 14, 2022 4:45am
Quoting Mitiblotch
{quote} Thanks Scala. I have been busy with travel preparation. I already mentioned to Beetogether. I finally won a full paid scholarship to study for my Msc. in Glasgow, UK. And I say it gratefully that my proof of funds and all the finances required (though still need a bit more) was made from my trading. I am grateful to God that I didn't quit trading when it was rough some years ago. I had Admissions last year and the year before but couldn't put the funds together for several reasons. But...
Men! Its pleasure to read that! I wish you only succes and I know it comes becouse you are a kind person trade safe and God bless you!
People don't plan to lose. They lose because they don't plan.
  • #683,502
  • Sep 14, 2022 4:52am Sep 14, 2022 4:52am
Quoting TheWolf
38.2% Fibo reached I think.
I think more move to the upper side is possible, if it's bouncing from 61.8/78.6 fibo
*1m candle shows rejection to go lower.
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  • #683,503
  • Sep 14, 2022 4:53am Sep 14, 2022 4:53am
Yen-buying intervention is more difficult than yen-selling.

Japan’s foreign reserves stand at $1.33 trillion, the world’s largest after China’s and likely comprised mostly of dollars. While abundant, reserves could quickly dwindle if huge sums are required to influence rates each time Tokyo steps in.

That means there are limits to how long it can keep intervening, unlike for yen-selling intervention – where Tokyo can continue issuing bills to raise yen.

Currency intervention would also require informal consent by Japan’s G7 counterparts, notably the United States, if it were to be conducted against the dollar/yen. That is not easy with Washington traditionally opposed to the idea of currency intervention, except in cases of extreme market volatility. (Reporting by Leika Kihara and Tetsushi Kajimoto; Editing by Vidya Ranganathan and Kim Coghill)

Now if someone forgot which you may because it was 2 months ago, economists did say that 140 for BoJ isn't a problem, but 145 would likely provoke intervention.
  • #683,504
  • Sep 14, 2022 4:54am Sep 14, 2022 4:54am
Quoting 3xtazzy
{quote} I think more move to the upper side is possible, if it's bouncing from 61.8/78.6 fibo {image}
High sense of urgency at 50% though!
  • #683,505
  • Sep 14, 2022 4:58am Sep 14, 2022 4:58am
Quoting RaHaG0D
{quote} Good luck wherever you are mate I hope that you get everything you want in life
Amen! Thank you and God bless you.
  • #683,506
  • Sep 14, 2022 5:03am Sep 14, 2022 5:03am
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  • #683,507
  • Sep 14, 2022 5:05am Sep 14, 2022 5:05am
Quoting TheWolf
Yen-buying intervention is more difficult than yen-selling. Japan’s foreign reserves stand at $1.33 trillion, the world’s largest after China’s and likely comprised mostly of dollars. While abundant, reserves could quickly dwindle if huge sums are required to influence rates each time Tokyo steps in. That means there are limits to how long it can keep intervening, unlike for yen-selling intervention – where Tokyo can continue issuing bills to raise yen. Currency intervention would also require informal consent by Japan’s G7 counterparts, notably...

  1. in russia ukraine war
  2. usa froze all russian assets
  3. this means russia' usd reserve became zero / worthless

  • #683,508
  • Sep 14, 2022 5:06am Sep 14, 2022 5:06am
Pound destroying AUD at the moment. That was a nice trade. What is a correlation between these two? Moty, you're an expert on this, thoughts?
  • #683,509
  • Sep 14, 2022 5:09am Sep 14, 2022 5:09am
GA = GU / AU
  • #683,510
  • Sep 14, 2022 5:10am Sep 14, 2022 5:10am
Quoting PatienceFx
{quote} in russia ukraine war usa froze all russian assets this means russia' usd reserve became zero / worthless
What are you implying with this, I don't understand? How does this correlates with intervention from BoJ? Thanks!
  • #683,511
  • Sep 14, 2022 5:10am Sep 14, 2022 5:10am
Quoting Mitiblotch
{quote} Thanks Scala. I have been busy with travel preparation. I already mentioned to Beetogether. I finally won a full paid scholarship to study for my Msc. in Glasgow, UK. And I say it gratefully that my proof of funds and all the finances required (though still need a bit more) was made from my trading. I am grateful to God that I didn't quit trading when it was rough some years ago. I had Admissions last year and the year before but couldn't put the funds together for several reasons. But...
This is great news mate! Well Done! It must've been really tough! I live in Glasgow, do let me know if you need any help.
  • #683,512
  • Sep 14, 2022 5:13am Sep 14, 2022 5:13am
Building up pending positions again
WARNING: This post warps space and time in its vicinity.
  • #683,513
  • Sep 14, 2022 5:15am Sep 14, 2022 5:15am
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  • #683,514
  • Sep 14, 2022 5:23am Sep 14, 2022 5:23am
Quoting Pat Chiko
{quote} GU Scalping position. Trade Safe Regards Pat Chiko

GU

Partial TP.
Balance position - Moved to Positive Stop.
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #683,515
  • Sep 14, 2022 5:27am Sep 14, 2022 5:27am
Quoting Indiara
This might be a bumpy ride. But I like the setup {image}
I said it would be a bumpy ride, and it certainly was! But it got to my target for +53.

So this trade and earlier UJ trade is total of +119 for the session

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I am neither brave nor stupid...I am just a part time trader
  • #683,516
  • Sep 14, 2022 5:28am Sep 14, 2022 5:28am
Quoting PatienceFx
{image}
Actually, now that I think of it. Why would they intervene before interest rate decision right? That takes place in a week. If they don't mean to raise interest rates all that intervention won't make much difference in my opinion, if they keep interest rates at negative territory, right? It would be mistimed at best.
  • #683,517
  • Sep 14, 2022 5:28am Sep 14, 2022 5:28am
Quoting Pat Chiko
{quote} GU Partial TP. Balance position - Moved to Positive Stop. {image}
Looking for a small drop to 11530 for the next extension of the up move
Insane in the Brain..
  • #683,518
  • Sep 14, 2022 5:29am Sep 14, 2022 5:29am
Quoting Mitiblotch
{quote} Thanks Scala. I have been busy with travel preparation. I already mentioned to Beetogether. I finally won a full paid scholarship to study for my Msc. in Glasgow, UK. And I say it gratefully that my proof of funds and all the finances required (though still need a bit more) was made from my trading. I am grateful to God that I didn't quit trading when it was rough some years ago. I had Admissions last year and the year before but couldn't put the funds together for several reasons. But...
Good luck Miti. and well done making money in fx to fund your Msc . Glasgow is a nice place once you get used to it
  • #683,519
  • Sep 14, 2022 5:32am Sep 14, 2022 5:32am
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yes yes yes
  • #683,520
  • Sep 14, 2022 5:35am Sep 14, 2022 5:35am
waiting for short signal
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yes yes yes
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