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Cable Update (GBPUSD)

  • #688,621
  • Edited 2:35pm Sep 27, 2022 2:23pm | Edited 2:35pm
...

1hr currently rangy, 4hr damage to it's downtrend with a LH (y/day dly hi,) HL, LH (today current dly lo,) and what might turn out to be a 2nd HL if current p/back lo off today's current dly hi turns fractal?

1hr below
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Trader with an Edge.
  • #688,622
  • Sep 27, 2022 2:35pm Sep 27, 2022 2:35pm
possible targets long trade
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  • #688,623
  • Sep 27, 2022 2:37pm Sep 27, 2022 2:37pm
Quoting Jolita
{quote} I know, you have to make up profit towards fees. Crude pays nice daily interestest. But risky moves happen and could plummet on recession. New chancellors carreer is quite impressive. He has v goid uni background, was member of University Challenge, investment company experience. Pretty clever. We necer know, maybe not all hopes lost pound to gain trust. All the best!

New chancellor is indeed well educated - Phd in economics, but he must have been off when they did the module on behavioral finance!
Trader with an Edge.
  • #688,624
  • Sep 27, 2022 2:40pm Sep 27, 2022 2:40pm
Short in at 1.0716 and 06
Don't trade what you think. Just what you see!!!
  • #688,625
  • Sep 27, 2022 2:51pm Sep 27, 2022 2:51pm
Sold some more. This time my entry is based on H1, pure guessing no fancy indicators. Lets see tomorrow. Off to bed

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  • #688,626
  • Sep 27, 2022 2:59pm Sep 27, 2022 2:59pm
Quoting Headland
{quote} New chancellor is indeed well educated - Phd in economics, but he must have been off when they did the module on behavioral finance!


Oh perhaps he was making billions shorting GBP along with BOE.
  • #688,627
  • Sep 27, 2022 3:01pm Sep 27, 2022 3:01pm
Quoting Qu|cksilver
Hi, Does anyone agree cable may go up to 1.9050 area? or will continue bearish when the market open on monday?
Cable will go up but not yet it has to rally down first grab liquidity before shooting up
  • #688,628
  • Sep 27, 2022 3:01pm Sep 27, 2022 3:01pm
Quoting bestchao14
{quote} I'm thinking a buy at 1.0730 would be good and would head up to your selling point If anyone agrees now is the time to get on the rocket
It's about time for the rocket!
  • #688,629
  • Sep 27, 2022 3:04pm Sep 27, 2022 3:04pm
Quoting lddd
{quote} Isn't that a bit late? Price is 1.0722. I may be wrong.
I will answer you soon
POSTMASTER
  • #688,630
  • Sep 27, 2022 3:05pm Sep 27, 2022 3:05pm
Quoting Robinhood1
{quote} I will answer you soon
In fact, i am going to hunt your SL peace
POSTMASTER
  • #688,631
  • Sep 27, 2022 3:07pm Sep 27, 2022 3:07pm
Quoting Theoak
Short in at 1.0716 and 06
Taking hit on this... do not want to hold anything during Asia session
Don't trade what you think. Just what you see!!!
  • #688,632
  • Sep 27, 2022 3:12pm Sep 27, 2022 3:12pm
Quoting Robinhood1
{quote} In fact, i am going to hunt your SL peace
Sounds fair Peace.
  • #688,633
  • Sep 27, 2022 3:34pm Sep 27, 2022 3:34pm
This pair came back near my entry. I am out of my short. What kind of bounce was that? Well, back to JPY. Short UJ at 144.80. That area is the 78.6% fib ret. of the fall during the BOJ intervention.
  • #688,634
  • Sep 27, 2022 3:51pm Sep 27, 2022 3:51pm
Quoting bestchao14
{quote} I'm thinking a buy at 1.0730 would be good and would head up to your selling point If anyone agrees now is the time to get on the rocket
I suppose end of the day means the rocket missed its launch window. Don't worry, we'll get em next time!
  • #688,635
  • Sep 27, 2022 4:00pm Sep 27, 2022 4:00pm
My outlook on GU (It may or may not paly out)
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  • #688,636
  • Sep 27, 2022 4:23pm Sep 27, 2022 4:23pm
Quoting thevisitor
long, sl in place{image}
first target 1.0780
  • #688,637
  • Edited 5:46pm Sep 27, 2022 4:25pm | Edited 5:46pm
Quoting Psalmy
My outlook on GU (It may or may not paly out) {image}
Yes very likely it will I have the same mindset as yours for cable as it stands now
  • #688,638
  • Sep 27, 2022 5:15pm Sep 27, 2022 5:15pm
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #688,639
  • Edited 5:42pm Sep 27, 2022 5:29pm | Edited 5:42pm
massive move from August indicates how far out the Bank of England are
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #688,640
  • Sep 27, 2022 5:52pm Sep 27, 2022 5:52pm
Quoting Bones
massive move from August indicates how far out the Bank of England are {image} {image}
To be fair to them (BoE) it's not like the rates by themselves solve problems or make miracles. You can discuss, maybe it's too high or too low, but they are not the magical solution, or most countries wouldn't have problems even with them at 20% or more.
Going for too high if the economy can't take it can create as much problems as it can solve.
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