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Cable Update (GBPUSD)

  • #689,001
  • Sep 28, 2022 6:39am Sep 28, 2022 6:39am
Quoting Waveskierrob
{quote} Definitely not..... it moves up and down so much I'm starting to trade it ....and well done keep up the good work
Thanks buddy. You can use it as a TV chart
WARNING: This post warps space and time in its vicinity.
  • #689,002
  • Sep 28, 2022 6:43am Sep 28, 2022 6:43am
Quoting navk
when the daily range becomes 100 to 120 pips, then one can trade this pair. Currently one should avoid this pair. Or asia, one can trade
But Nav, this is what we as traders live for - volatility and momentum combined - it doesn't get any better! - this is a great market, anyone losing in it is probably either using the wrong size stop for the conditions, and/or, for eg since the Boe spike today up till this point at least, buying and holding in an obviously bearish market reacting to a fundie release.
Trader with an Edge.
  • #689,003
  • Sep 28, 2022 6:44am Sep 28, 2022 6:44am
Quoting Headland
{quote} Hi mate, do you mind me asking, re your statement highlighted in your above post, why have you pre-determined what price will do if/when it hits 1.0500?
From what I have see it has unfinished business in the 105 area. Possibly lower. A chance for parity is also open
Insane in the Brain..
  • #689,004
  • Sep 28, 2022 6:45am Sep 28, 2022 6:45am
Quoting Headland
{quote} But Nav, this is what we as traders live for - volatility and momentum combined - it doesn't get any better! - this is a great market, anyone losing in it is probably either using the wrong size stop for the conditions, and/or, for eg since the Boe spike today, buying and holding in an obviously bearish market reacting to a fundie release.
I second you boss
WARNING: This post warps space and time in its vicinity.
  • #689,005
  • Sep 28, 2022 6:52am Sep 28, 2022 6:52am
maybe the reason behind the intervention

https://www.risk.net/derivatives/795...sterling-slide
  • #689,006
  • Sep 28, 2022 6:53am Sep 28, 2022 6:53am
Quoting Headland
{quote} But Nav, this is what we as traders live for - volatility and momentum combined - it doesn't get any better! - this is a great market, anyone losing in it is probably either using the wrong size stop for the conditions, and/or, for eg since the Boe spike today up till this point at least, buying and holding in an obviously bearish market reacting to a fundie release.
We retail traders are used to ADR 120 pips for GU.

This is how a trader has adopted to this pair.

Once in a while 150 to 160 pips can be managed too.

400 to 500 pips is ridiculous, the reason being one can not find an entry.
Intraday only.
  • #689,007
  • Sep 28, 2022 6:54am Sep 28, 2022 6:54am
Quoting lddd
Still in. Nothing can stop me now! Don’t even try. {image}

_____________ we R doin ok m8 , 4sure
Don’t focus on making $$$, focus on protecting what you have.
  • #689,008
  • Sep 28, 2022 6:58am Sep 28, 2022 6:58am
Quoting navk
{quote} We retail traders are used to ADR 120 pips for GU. This is how a trader has adopted to this pair. Once in a while 150 to 160 pips can be managed too. 400 to 500 pips is ridiculous, the reason being one can not find an entry.
trade with a small position and a wider stop loss, but don't gamble
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #689,009
  • Sep 28, 2022 6:58am Sep 28, 2022 6:58am
see here.

From the PA, i can see the price can take out previous low b4 bounce.

What happened few hrs ago?

A spike. This can easily damage an account of a retail trader
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1.png Size: 20 KB
Intraday only.
  • #689,010
  • Sep 28, 2022 6:58am Sep 28, 2022 6:58am
Dollar index up 10 points from low of this quarter, up 20 points from low of this year.
  • #689,011
  • Sep 28, 2022 6:59am Sep 28, 2022 6:59am
Quoting ForexGoose
{quote} trade with a small position and a wider stop loss, but don't gamble
Better to trade asia as usual than risking london and NY
Intraday only.
  • #689,012
  • Sep 28, 2022 7:01am Sep 28, 2022 7:01am
Man, you guys are having fun eh?

Would like to dedicate this song to myself for missing all the moves..

Inserted Video
  • #689,013
  • Sep 28, 2022 7:03am Sep 28, 2022 7:03am
Quoting navk
{quote} Better to trade asia as usual than risking london and NY
...but looked what happen on Monday Asian time ...
  • #689,014
  • Sep 28, 2022 7:05am Sep 28, 2022 7:05am
Quoting emmanuel7788
{quote} its time to sell... {image}
that daily is the warning, the wick is right
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #689,015
  • Sep 28, 2022 7:05am Sep 28, 2022 7:05am
Quoting Waveskierrob
{quote} ...but looked what happen on Monday Asian time ...
The very next day after friday when huge movement happened, according to my trading book, one should not trade monday at all.

That Friday move is not just 200 pips move to take advantage on monday.

500 pips move on friday indicates danger not only next day but until the pair stabilizes
Intraday only.
  • #689,016
  • Sep 28, 2022 7:08am Sep 28, 2022 7:08am
Quoting navk
{quote} The very next day after friday when huge movement happened, according to my trading book, one should not trade monday at all. That Friday move is not just 200 pips move to take advantage on monday
...ok thanks
  • #689,017
  • Sep 28, 2022 7:09am Sep 28, 2022 7:09am
Quoting navk
see here. From the PA, i can see the price can take out previous low b4 bounce. What happened few hrs ago? A spike. This can easily damage an account of a retail trader {image}
Notwithstanding slippage, the reason a spike like that can '... damage the account of a retail trader...' as you put it, is because they are over-leveraged. We know why that is - most retail traders have limited margin so need to over-leverage to make the activity worthwhile re cash generation and/or they have leveraged up to take advantage of the volatility when actually one should leverage down. But whatever the case, the spike up (before the drop) was over a full 2mins - look at 1min below. and the drop before it bounced was 2mins +. Plenty of time to figure out that the market was moving strongly against them if they were in short, At the end of the day, that's what stops are for.

1min below
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 11 KB
Trader with an Edge.
  • #689,018
  • Sep 28, 2022 7:11am Sep 28, 2022 7:11am
I've put a long in at 1.0591... I'd originally put a long in and got battered... Stayed in too long. I expect this now to have positive growth as BOE have done something now. Just going to let it run!!!
Don't trade what you think. Just what you see!!!
  • #689,019
  • Sep 28, 2022 7:13am Sep 28, 2022 7:13am
Quoting Theoak
I've put a long in at 1.0591... I'd originally put a long in and got battered... Stayed in too long. I expect this now to have positive growth as BOE have done something now. Just going to let it run!!!
maybe, the bulls will last a few more hours until the bears are released from the barn
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #689,020
  • Sep 28, 2022 7:14am Sep 28, 2022 7:14am
Quoting eyefeelsix
{quote} last addition in the zone --- currently long atm {image}
new entry, my chart updated

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1.png Size: 18 KB
https://breakpullback.com
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