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Cable Update (GBPUSD)

  • #689,181
  • Sep 28, 2022 11:23am Sep 28, 2022 11:23am
Quoting Coreg2004
Yesterday the GU made ID/NR7... a high probability that both ends of the daily range (YH, YL) will be tested today. {quote} {image}
What do you see, Coreg? I went bullish EU instead as I shared my EU trade. I knew GU would run up when I saw EU going up so jumped out of my GU short at 0700, which I also shared.

I am not comfortable with GU rising without retesting that 0300 area. It somehow feels like it will come back there sooner rather than later. I know what this move is about. They'll run it up to test the new months pivots, maybe/maybe no breach it for a few pips and then sink it again. Maybe, maybe, maybe...
  • #689,182
  • Sep 28, 2022 11:23am Sep 28, 2022 11:23am
Quoting Theoak
I know it makes no sense, as it been a bear party for as long as I can remember.... I think we can be bullish on this pair, but I will be trading what I see, but with a Bullish prospective!!
Up 156 pips
Don't trade what you think. Just what you see!!!
  • #689,183
  • Sep 28, 2022 11:24am Sep 28, 2022 11:24am
Quoting ForexGoose
{quote} bought from 1.056, stop loss under 1.05, target is 1.08 maybe
reached and exceeded target

adjusted stop loss to 1.08 and will let it run to maybe the 1.10 area, if it gets there
Attached Image (click to enlarge)
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don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #689,184
  • Sep 28, 2022 11:26am Sep 28, 2022 11:26am
Quoting knkie
looks like massive intervention in the pound

It could also due to the worser home sales than expected. Showing slowing down of economy.
  • #689,185
  • Sep 28, 2022 11:27am Sep 28, 2022 11:27am
some 200 bucks more added
Attached Image (click to enlarge)
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Intraday only.
  • #689,186
  • Sep 28, 2022 11:28am Sep 28, 2022 11:28am
Quoting Eren10
{quote} It could also due to the worser home sales than expected. Showing slowing down of economy.
hmmm
i had not considered that.

quite shocking though that some pension funds were hours away from collapse when BoE intervened in the guilt rate
in wondering about yourself, you forgot what you came here to be part of
  • #689,187
  • Sep 28, 2022 11:29am Sep 28, 2022 11:29am
GU has been wild this two weeks.
Huge movements everyday.
Exhausted
  • #689,188
  • Edited 11:47am Sep 28, 2022 11:31am | Edited 11:47am
Quoting Robinhood1
{quote} Really. Hold on tight to below1.0400
Hehe. There came the move up again, even earlier. Stopped out with both short positions. No worries, only demo money (plus still ended little profitable).

Attached Image (click to enlarge)
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Edit: What is the trend?
  • #689,189
  • Sep 28, 2022 11:31am Sep 28, 2022 11:31am
Quoting Eren10
Yesterday I saw a video of a person that turned 200 dollar into 190000 in 4 hours of time, trading in oil. At that time there was a strong downtrend of oil. This was a more reversal day. But still after yesterday sawing it this was the pair to turn small value into something big. But I missed it completely as I was working and did not grasp what was going.
Oil and gold, these two pair can make you either rich quickly or go broke quickly
Exhausted
  • #689,190
  • Sep 28, 2022 11:32am Sep 28, 2022 11:32am
Quoting knkie
looks like massive intervention in the pound
I understand the pound going up, but why the EUR? Have any ideas?
Don't trade what you think. Just what you see!!!
  • #689,191
  • Sep 28, 2022 11:34am Sep 28, 2022 11:34am
Quoting Theoak
{quote} I understand the pound going up, but why the EUR? Have any ideas?
same reason that cattle follows each other to the slaughterhouse in single file
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #689,192
  • Sep 28, 2022 11:34am Sep 28, 2022 11:34am
Quoting Theoak
{quote} I understand the pound going up, but why the EUR? Have any ideas?
hey Theo !

im terrible at fundamentals.
anything i say is a guess.

but how about this:
hurricane in florida category 5 is bad for the dollar, pound is too dangerous, so safe haven is euro?
in wondering about yourself, you forgot what you came here to be part of
  • #689,193
  • Sep 28, 2022 11:36am Sep 28, 2022 11:36am
i have to say again that im shocked about this
Attached Image (click to enlarge)
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in wondering about yourself, you forgot what you came here to be part of
  • #689,194
  • Sep 28, 2022 11:38am Sep 28, 2022 11:38am
Quoting Mitiblotch
{quote} What do you see, Coreg? I went bullish EU instead as I shared my EU trade. I knew GU would run up when I saw EU going up so jumped out of my GU short at 0700, which I also shared. I am not comfortable with GU rising without retesting that 0300 area. It somehow feels like it will come back there sooner rather than later. I know what this move is about. They'll run it up to test the new months pivots, maybe/maybe no breach it for a few pips and then sink it again. Maybe, maybe, maybe...
MIti, the daily ranges are enormous like in the late 90ies. DailyATR(14) is 190 pips so intraday swing also will be big. I stay with the same TA (EW, HP, daily/weekly range) and follow my 5M chart in direction of 30M. If the Monday range had 5 fractals and made an A wave, I expect 1.0931 to be taken out. Of course market can disagree with me...
Attached Image (click to enlarge)
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Always trade your own plan...I don't provide trading signals.
  • #689,195
  • Sep 28, 2022 11:38am Sep 28, 2022 11:38am
Quoting knkie
i have to say again that im shocked about this {image}
what kind of idiots manage these pension funds?
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #689,196
  • Sep 28, 2022 11:40am Sep 28, 2022 11:40am
Quoting ForexGoose
{quote} what kind of idiots manage these pension funds?
agreed it does not seem like they have sturdy buffers to withstand a crisis.
They teetered quite easily.
in wondering about yourself, you forgot what you came here to be part of
  • #689,197
  • Sep 28, 2022 11:45am Sep 28, 2022 11:45am
hahah
wow
talk about a margin call
Attached Image (click to enlarge)
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in wondering about yourself, you forgot what you came here to be part of
  • #689,198
  • Sep 28, 2022 11:46am Sep 28, 2022 11:46am
Quoting knkie
hahah wow talk about a margin call {image}
the boomers will have to go back to work soon
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #689,199
  • Sep 28, 2022 11:46am Sep 28, 2022 11:46am
Quoting ForexGoose
{quote} what kind of idiots manage these pension funds?
Rich ones
Don't trade what you think. Just what you see!!!
  • #689,200
  • Sep 28, 2022 11:47am Sep 28, 2022 11:47am
Quoting knkie
{quote} hmmm i had not considered that. quite shocking though that some pension funds were hours away from collapse when BoE intervened in the guilt rate

I have not read the news, however their traders are like me probably: buying at the top and selling at the bottom. And keeping until the account is empty
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