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Cable Update (GBPUSD)

  • #687,001
  • Sep 23, 2022 3:01am Sep 23, 2022 3:01am
So far this weeks weekly candle's body is one of the largest declines of the year.
  • #687,002
  • Sep 23, 2022 3:02am Sep 23, 2022 3:02am
Quoting Pat Chiko
{quote} Hi France. I only trade using Support & Resistance. ( primitive trading system) Chart below shown my thought process on taking those trades. Plus I've Waveskie and Wizard's help to the charting and trade decision. They are good people here. {image}
thanks very much， it's a very detailed chart. really helpful.
  • #687,003
  • Sep 23, 2022 3:07am Sep 23, 2022 3:07am
Quoting Pat Chiko
Autonomy of change of trend. Example from GU Mar 2020. Price formation will gives us the clue. Keeping i simple by looking at price not indicator ( as they are lagged){image} Look at the current formation of GU. Nothing break high yet. RT is possible and continuation proceed after{image}
Excellent point. I compliment your 'signs of a trend' with a triple EMA (5, 8 and 12 or 21). As the lines in the ema separate, your trend is getting stronger, when the ema's cross your trend is probably over or in a pull back and so on. Not used in isolation but confirmation. That type of thing
  • #687,004
  • Edited 3:26am Sep 23, 2022 3:11am | Edited 3:26am
Quoting dantpm
{quote} Not just GU, everything with USD in the indicator! 'Conviction' in the USDX is at least as important as any sign in the actual pair!
The US Dollar Black Hole is Swallowing EVERYTHING.........

And it's flirting with generational highs.
Attached Image (click to enlarge)
Click to Enlarge Name: dxy 3.png Size: 29 KB


The higher the DXY goes the more USTs and other US assets will be sold to defend EUR and YEN and others, only $45T at play.
The FED can not afford that to happen.

Anything is possible.
Further strength to 120 or beyond would be a disaster for the US and the rest of the world.
But, at the same time, if we close below 109 in the DXY, then 104, this will all be a distant memory.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #687,005
  • Sep 23, 2022 3:12am Sep 23, 2022 3:12am
Anyone else thinking we are going to see dollar pound parity very soon?
Insane in the Brain..
  • #687,006
  • Sep 23, 2022 3:15am Sep 23, 2022 3:15am
Quoting BeeTogether
Anyone else thinking we are going to see dollar pound parity very soon?
It's premature at the moment to say anything regarding parity.
WARNING: This post warps space and time in its vicinity.
  • #687,007
  • Sep 23, 2022 3:18am Sep 23, 2022 3:18am
Quoting WizardTrade
{quote} It's premature at the moment to say anything regarding parity.
Although if you look at where the pair was only 6 weeks ago circa 121 area to now where we are closer to 1100 then parity does spring to mind
Insane in the Brain..
  • #687,008
  • Sep 23, 2022 3:18am Sep 23, 2022 3:18am
Quoting BeeTogether
Anyone else thinking we are going to see dollar pound parity very soon?
It's inevitable, west thought sanctioning Russia it would be easy as they done it in Zimbabwe. Until west go to Russia and reverse those sanctions the worst is still to come.
Plan your trades and trade your plan.
  • #687,009
  • Sep 23, 2022 3:19am Sep 23, 2022 3:19am
To be honest, I might switch to swing trading using m15 or m5 soon if my "testing strategy work"
Still testing and trying to see the results.

If I took the trade this morning and waited, I would've gotten a 100 pips trade.
Exhausted
  • #687,010
  • Sep 23, 2022 3:19am Sep 23, 2022 3:19am
Quoting BeeTogether
{quote} Although if you look at where the pair was only 6 weeks ago circa 121 area to now where we are closer to 1100 then parity does spring to mind
It does but the big guys sitting in government may intervene before our fantasy comes true So careful calculated guess is a must
WARNING: This post warps space and time in its vicinity.
  • #687,011
  • Sep 23, 2022 3:19am Sep 23, 2022 3:19am
Quoting france001
{quote}thanks very much， it's a very detailed chart. really helpful.

Not that precise.

If you really want to see great charting and analysis, always keep this good trader chart close by.
He got great analysis

Quoting [COLOR=Red
Headland[/color];14149205]G/M, slight up then down in Asian and a downside follow thru in early London session so far. New yrly lo established @ 1168/69. 1hr+ downtrends still in place. Uk PMI's to come. Very little in the way of good news for £ lately. Doesn't mean there won't be technical 'relief' rallies or more. 1hr below {image}
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #687,012
  • Sep 23, 2022 3:22am Sep 23, 2022 3:22am
Quoting Indiara
{quote} Yes indeed. Although UJ is dead quiet today!!
Bank of Japan selling USD/JPY to the market + Bank Holiday
Don't trade what you think. Just what you see!!!
  • #687,013
  • Sep 23, 2022 3:23am Sep 23, 2022 3:23am
Quoting WizardTrade
Nearing the news {image}
Putting pressure on the bottom trendline of the channel before the news. Let's see what it brings.
WARNING: This post warps space and time in its vicinity.
  • #687,014
  • Sep 23, 2022 3:23am Sep 23, 2022 3:23am
Quoting Theoak
{quote} Bank of Japan selling USD/JPY to the market + Bank Holiday
More selling resumes on Monday since it's Bank Holiday for Japan today.
Exhausted
  • #687,015
  • Sep 23, 2022 3:24am Sep 23, 2022 3:24am
Quoting Pat Chiko
{quote} Not that precise. If you really want to see great charting and analysis, always keep this good trader chart close by. He got great analysis {quote}
Another good piece of analysis is to just remember that traders the world over think that the currency that the Fed has spent the last 14 years printing into oblivion and has lost 98% of its purchasing power since coming off the gold standard, is currently the best store of value in the world.
  • #687,016
  • Sep 23, 2022 3:25am Sep 23, 2022 3:25am
Quoting Elysion
To be honest, I might switch to swing trading using m15 or m5 soon if my "testing strategy work" Still testing and trying to see the results. If I took the trade this morning and waited, I would've gotten a 100 pips trade.
Hmm.. just suggestion, if you want to be swing, you shouldnt focus at small tf. It will causing you get in n out because small tf have too many noise.
just my opinion, if you tested your strategy and it work for you then focus it.
  • #687,017
  • Sep 23, 2022 3:27am Sep 23, 2022 3:27am
Quoting Bryan5229
{quote} 1.1150 has not been reached yet.
No but it sure will bozo
  • #687,018
  • Sep 23, 2022 3:30am Sep 23, 2022 3:30am
Tax cuts on the way not good for the pound. As this will increase public debt. This is what happens when clowns are in power
Insane in the Brain..
  • #687,019
  • Sep 23, 2022 3:30am Sep 23, 2022 3:30am
Quoting Elysion
{quote} More selling resumes on Monday since it's Bank Holiday for Japan today.
I think it is good thinking. Slowly intervene as it could have spiked the market. Least they are doing something. BOE .... don't get me started!!!
Don't trade what you think. Just what you see!!!
  • #687,020
  • Sep 23, 2022 3:30am Sep 23, 2022 3:30am
Quoting LeongPuiy
{quote} Hmm.. just suggestion, if you want to be swing, you shouldnt focus at small tf. It will causing you get in n out because small tf have too many noise. just my opinion, if you tested your strategy and it work for you then focus it.
Or you might want to watch multiple time frames. A higher one to tell you direction, a trading one that you are comfortable with the results you are getting and a faster one to make sure you aren't trying to jump the gun and get in too early. Trading in the direction of the trend tends to give better returns in my limited experience.
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