Cable Update (GBPUSD)

Quoting dantpm

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{quote} Parity, how about the British peso! As companies follow the lead of Volkswagen and other manufacturers, Britain and the EU will lose billions as companies leave on Biden's folly where the US gives Ukraine weapons for years to fire at the Russian border to start a war. It is sad that Europe joined in this gambit that will hurt Europe more than the US or Russia!

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Quoting WizardTrade

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{quote} Playing fire with fire does a lot of collateral damage for the generations to come in the next 100 years, especially when you become a party to it.

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Quoting Bones

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{quote} it dropped 400 pips and closed at its low, shaven has 2 meanings, in that case, you should expect it to carry on very long wicks for the chart are a very high probability reversal

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Quoting nAVIN2007

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{quote} u know bro..I have come a long way from where i started, I never gambled in my life i would trade 0.01 lot and make a return through suffering ..like £20 I was completely risk adverse..now im in a trade and im holding my shit with 9k DD. This in the past i could not have even comprehend this I am also invested in bitcoin and etherum 13k basically trading 25k approx this trade is basically survive or die If i dont make it im not sure trading is something i will be able to continue with..da wife would slaughter me

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Quoting Nala66

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Most people here are too focused on the immediate and not looking at the bigger picture. This whole move started way back in June 2021 and the bulls have not managed a single HH since then and there has been no bull support at all. Plot the charts why don't ya instead of all this 'thinking' trades. At least take a butchers at the weekly and look to the hourly for current activity. Here is the weekly... {image}Then the hourly... {image} One would need to have their bumps read to go against this lot.

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Quoting Nala66

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Here is the weekly... {image}

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Quoting Jolita

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{quote} Nala, I've seen you around FF, sadly you never posted on this thread. It could be eye opener. Nice analysis, appreciated.

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Quoting Nala66

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{quote} Too much chatter in this thread to bother so I post almost every day multiple times in my own thread. Like I just posted this in there... {image}

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Quoting T721

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this is my long term outlook for GU, the bottom may not be far away b4 next bounce. But the markets didnt like the Mini budget so be careful out there. And this is the weekly tf so gonna take a long time to prove if its right or not. EW is not the be all and end all, it is only a tool and sometimes i get it totally wrong but it does give me an edge and thats all i need. The sell of on friday i wasnt expecting to happen in a day, i thot it would take a week at least to drop 400pips only hope not too many were caught on the wrong side {image}

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Quoting nAVIN2007

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{quote} As always digs, u are right!..I dont know how i do it..I always find (twice now lol) the market going into an extreme and i lose the plot..the funny thing is i actually saw this coming and was trading it (it did not occur to me the market would use a war to make it happen, this at least is what i was thinking). I think im gonna have to learn to take a hit and see it as a normality for this business, if i see light at the end of the tunnel. Maybe i need to try trade like u..just go with it, no questions..but then again to trade like u, means...

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Quoting Nala66

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{quote} The BOE announced earlier this week they were selling USD assets to raise a few bob. Remember the bank bought them cheap now they are selling them high for a bundle. Price is what it is, and the market will always control it not the individual.

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Quoting Jolita

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{quote} We heard before them saying richer get richer, mini budget just proved this. To most people 1% income tax will save circa £200 a year, plus NI £200.00. But then living costs are increasing (utilities etc.) While tax reduction fto higher earners will save thousands of pounds, cutting 5% earning over £150k. Labor isn"t happy, willing to reverse the 5%. Stamp duty cut and tax free to first time buy to £250k is a good thing, will support house market a float.

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Quoting RaHaG0D

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{quote} ....A factor that no one considers is: Traders are not the traders of 20 years ago. Trading systems & the number of traders are expanding (due to the continuous growth of the Internet in the world, Corona, unemployment, etc.) & liquidity in the market is increasing every day. which has increased the number of decisions & the price range has increased, & finally the behavior may not occur as in the past, something that seems to be seen a lot these days. More traders = more fear = different price behavior maybe with past Most trading...

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Quoting Bones

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it's more like that one it is a large range, and from that, we know its high volume situ were in {image}

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