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Cable Update (GBPUSD)

  • #690,641
  • Oct 1, 2022 12:50pm Oct 1, 2022 12:50pm
Quoting Georginson
{quote} Pound is next... As far as Liz Truss is in power, they are doomed to crash the Pound more... This is just a relief rally. More on this later.
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  • #690,642
  • Oct 1, 2022 12:51pm Oct 1, 2022 12:51pm
Quoting Wavegarrick
{quote} Wow, the sudden backlash from a list of Folks here that think all of us are stupid. Time for me to take a break from FF. Adios Folks.
Dont leave the thread Leon, many people benefit from your insights including me
hope u dont leave
  • #690,643
  • Oct 1, 2022 1:18pm Oct 1, 2022 1:18pm
Quoting Wavegarrick
{quote} Wow, the sudden backlash from a list of Folks here that think all of us are stupid. Time for me to take a break from FF. Adios Folks.
Hello Leon... Please you are not permitted to leave the thread... Please stay and keep posting as you have many followers and I'm one of them.

Quoting nAVIN2007
{quote} what makes u say this?
I was about to ask this actually...
Data + Stat + Risk/Emotions Management
  • #690,644
  • Oct 1, 2022 1:22pm Oct 1, 2022 1:22pm
Quoting nAVIN2007
{quote} what makes u say this?
Explained it earlier this week and so far usd is performing as expected
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Master your mind. Master Trading.
  • #690,645
  • Oct 1, 2022 1:28pm Oct 1, 2022 1:28pm
The UK government is banking on the fact that lower taxes would spurred more economic growth and investment from abroad but stability is also an important factor in spurring investment as well. If a cruise ship is sinking and you're offering free tickets to the cruise, nobody is going to take it. The UK government needs to show fiscal responsibility before new investors would come.

I see the pound tanking hard after this brief rally. The US was able to print money to pay its debt because its economy is strong and the USD has long had reserve status. If and when the market loses confidence in the pound, it could get real ugly real fast.
  • #690,646
  • Oct 1, 2022 1:32pm Oct 1, 2022 1:32pm
Quoting KareemAliFx
{quote} Explained it earlier this week and so far usd is performing as expected {image}
I dont think it is actually bearish, in fact the opposite. But it has traveled to a point where i was thinking...how the hell will it reach there (war -Ukraine/Russia)
Im bullish cause hopefully the up cycle has come to an end..?? at some stage i expect the bottom trend line to not hold..

George this is why i expect USD to get weaker
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  • #690,647
  • Oct 1, 2022 1:35pm Oct 1, 2022 1:35pm
Quoting KareemAliFx
{quote} Explained it earlier this week and so far usd is performing as expected {image}
USD also gains during economic turmoil. I think if the UK economy collapses, the dollar would sky rocket as everyone would flock to it. Also, if China's real estate bubble popped, that would also strengthen the dollar.
  • #690,648
  • Oct 1, 2022 1:35pm Oct 1, 2022 1:35pm
Quoting bilal1947
I want to know how do people here handle such a situation like this EU m5 chart same day : GU was even worst assume it is GU incase you didn't watch EU but assume similar scenario to manage. Please take your convenient time but do reply so i can also see from your eyes and thought process. After asia Up 40 pips Down 120 pips Up 72 pips Down 40 pips Up 40 pips I would be grateful to listen and understand how you all deal with it. Do you like to enter in each side of the trade or hedge keeping your original bias or let it stay in draw down till SL...
I like you you trade so long so experienced and with deep knowledge but you still humble asking this question, so we new traders can still learn

I think you can see this case happen to GU in one case I try to revert engineering the logic here,

No panic is the first most you must keep. Price often going up down revers in latest 31 days

I think there is several ways to deal with it.
1/ hedge opposite to win time, you know you will lose some of the profit, but better than lose all capi 1% or 2% you have invested in that trade, if you sit there and pray do not take my SL, hedge

2/ think from beginning you trade like you keep money in the bank the bank give you 2% the year, then do better and trade with dusk so that you could collect 4% that year, then when GU day like that you dont care about the loss, you wont jump from pen house window because the red 50$, you did not get today, but in 30 days turn back into a green note 50$

3/learn to trade like a hase, double your trade capi, dip in, aim for small litle litle 10 point or 50 points max 100point then get out.

4/think that you are a hohey yeahyeahyeah -trader you invest 5$ a point, when tide turns and you lose 50$ cut loss with no pain, no need to advise keep a big Whisky bottle next to your reach to kill the pain, fly with the wind, most bad day after 5 or 6 times you should be back on a winning trend to recoup the 60$ loss and can break even or win a little but you can shout Here is the man after a hard working day.... And ... when after the 9 times, price still stupidily not runs in a straight line ... then you can make a stop, still high of adrenaline and chloresterol, you can go home then blaim the wife ... (There was once trader who used in similar situation the word BEAT instead of BLAIM, and he isnt around anymore... not sure because of the word, or the COVID or fed up with those flys like the wind in trading)
  • #690,649
  • Edited 3:24pm Oct 1, 2022 1:38pm | Edited 3:24pm
lol, good lord , market makers are truly missing out , a chart of forum posts to actual pips moved would be a gold mine for them ,133 pages worth in the circle , my God , all these fact and figure being thrown out and around , and alledgedly what the bank of englan or this bank or that bank or these or that or some other damn thing blah blah blah , its just the means folks , one should probably use it and see it for what it should be too ya , think you all equiped to do shit like the big dogs and walk away rich in no time , your not and ya wont , the internet gave ya a chance to really really use the means to it its potential , might be good to focus on that , Looking a little better Nav , could be a while yet tho , Hasent been an "uptrend" for a long ,,,,,,,,long,,,,,,,,,,,,time , previou lows can help ya in that dept , not sure where they are at in the gbp , not enough data , eur is getting around some tho , and that birds of a feather thing may help , steady as it goes bud ,
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for the billy bob big times , a word on trends and such , them big words that many like to throw around, there was an attempt , it failed miserably
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eur isint quite there , but the boys pulling the slack out of the pucker string , a bit of a slow down may be in order
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  • #690,650
  • Edited 2:10pm Oct 1, 2022 1:44pm | Edited 2:10pm
Quoting bilal1947
I want to know how do people here handle such a situation like this EU m5 chart same day : GU was even worst assume it is GU incase you didn't watch EU but assume similar scenario to manage. Please take your convenient time but do reply so i can also see from your eyes and thought process. After asia Up 40 pips Down 120 pips Up 72 pips Down 40 pips Up 40 pips I would be grateful to listen and understand how you all deal with it. Do you like to enter in each side of the trade or hedge keeping your original bias or let it stay in draw down till SL...
Firstly consider the big picture, EU has been trading within a channel for some time (eventually this channel will break..) and although the overall trend is down price is currently in an uptrend, and will probably test the upside of the channel.
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Bearing this in mind I would only want to buy on m5 - going against the trend is always a terrible idea unless you are prepared to bail and use a tight SL - the pullback into support was a good area to get in.
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Even so, m5 is noisy, the noise to signal ratio is much better on m30 or h1 if you can wait for price to come to you.
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This is how I see it at least, I generally try to avoid counter-trend trades on fast charts and only look for pullback opportunities to join a larger trend aided by the Guppy MMA short term and long term ribbons.
  • #690,651
  • Oct 1, 2022 1:55pm Oct 1, 2022 1:55pm
Quoting nAVIN2007
{quote} I dont think it is actually bearish, in fact the opposite. But it has traveled to a point where i was thinking...how the hell will it reach there (war -Ukraine/Russia) Im bullish cause hopefully the up cycle has come to an end..?? at some stage i expect the bottom trend line to not hold.. George this is why i expect USD to get weaker {image}
This is actually a cause for more concern... Has the war In Ukraine ended? Putin joined signed to annex Four Ukraine territories, Ukraine also asked for quick Nato membership... Fed still not slowing down on rate hikes, so what wants to actually stop the dollar from further rallies? Check other top economies they are struggling too and remember that Dollar still remain the reserve currency and safe haven... This isn't looking like it's ending in the immediate term.
Data + Stat + Risk/Emotions Management
  • #690,652
  • Oct 1, 2022 2:00pm Oct 1, 2022 2:00pm
Quoting Robinhood1
{quote} Now 5 candles locked. Lets see how many more.Time to take the dog for a walk. {image}
Cornering coming to its end

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POSTMASTER
  • #690,653
  • Oct 1, 2022 2:04pm Oct 1, 2022 2:04pm
Quoting sixth sense
{quote} USD also gains during economic turmoil. I think if the UK economy collapses, the dollar would sky rocket as everyone would flock to it. Also, if China's real estate bubble popped, that would also strengthen the dollar.
Yes it is a safe haven but the US is now in a recession would it really be a safe haven then ? I rather buy gold… banks are saying buy usd even more bearish for my analysis… in the end time will reveal who is right
Master your mind. Master Trading.
  • #690,654
  • Oct 1, 2022 2:44pm Oct 1, 2022 2:44pm
It will drop from my own point of view
  • #690,655
  • Oct 1, 2022 3:07pm Oct 1, 2022 3:07pm
Quoting LvMMT
{quote} I wasn't focused on EurUsd...but I won something... {image} God bless you bilal1947 and God bless everyone!
No worries, God bless you too.

Thank you
bilal
"Exchange of hands"
  • #690,656
  • Oct 1, 2022 3:16pm Oct 1, 2022 3:16pm
Quoting nAVIN2007
{quote} Thank You. I wont have done it any differently, except perhaps not trade would have been a better option.
For my old bud , a couple lines and what slowly transpired till it wasent slow Id like to think what you "thought " may have been different , and things would have been done differently , As said , I know you more into being a posistion trader , not where the CASH is at when it comes to this but to each there own.
The second one , not really a option , ya came looking for something , it is a merry go round of free money so TAKE it ,
We getting old lol, next one is yours , dosent nexxicerily mean up either , any bias one gets should be because of what price says it should be , not ones own thinking or the bullshit facts and figures that get thrown all over ,many countless ones have came and went since 2008 ,people get all entagled about the circus till thats all its about and they forget about what they came looking for , means nothing , its not that complicted , You mentioned the better half in one of your posts , lol, aith even gonna start on that
Anyway, best too ya bud , and ya got 2 to make up for with that 3rd go round , make it count , best to you and all here ,
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  • #690,657
  • Oct 1, 2022 3:22pm Oct 1, 2022 3:22pm
Quoting ntk
{quote} ... (There was once trader who used in similar situation the word BEAT instead of BLAIM, and he isnt around anymore... not sure because of the word, or the COVID or fed up with those flys like the wind in trading)
Thank you mate for taking the time to respond my query as i really wanna see and brainstorm how you and others handle and mange it, i got the breif gist of the scenarios mentioned. I am glad you respond.

Off the topic: Wife is to nourish, to blossom nurture her make her stronger. Spend time on her growth, tomorrow we may not be there, who knows, and it is she who will going to raise your kids, who will be part of the society after all.

Thank you again
regards
bilal
"Exchange of hands"
  • #690,658
  • Oct 1, 2022 3:28pm Oct 1, 2022 3:28pm
Quoting Bainbrito
{quote} Firstly consider the big picture, EU has been trading within a channel for some time (eventually this channel will break..) and although the overall trend is down price is currently in an uptrend, and will probably test the upside of the channel. {image} Bearing this in mind I would only want to buy on m5 - going against the trend is always a terrible idea unless you are prepared to bail and use a tight SL - the pullback into support was a good area to get in.{image} Even so, m5 is noisy, the noise to signal ratio is much better on m30 or...
looks like that the channel high is waiting to be tapped, why not another time, great analysis and trend is your friend, don't fight the trend.

Let others also shed some light as tomorrow is another day and i and we can learn more as we discuss further.

Thank you Bainbrito
regards
bilal
"Exchange of hands"
  • #690,659
  • Edited 3:41pm Oct 1, 2022 3:30pm | Edited 3:41pm
Quoting Georginson
{quote} This is actually a cause for more concern... Has the war In Ukraine ended? Putin joined signed to annex Four Ukraine territories, Ukraine also asked for quick Nato membership... Fed still not slowing down on rate hikes, so what wants to actually stop the dollar from further rallies? Check other top economies they are struggling too and remember that Dollar still remain the reserve currency and safe haven... This isn't looking like it's ending in the immediate term.
This topic of Ukraine and Putin is a montage of the reptilians. They are losing power. Everything is corporate, nothing sovereign and it was discovered before 2000. They still control the media my dear friend. They seek to justify all the hardships they try to inflict on the average citizen to provoke a world civil war since as no politician has control over the army. Putin is a reptilian too. Sorry to instill perplexity in the thread. The herd always lives in a fiction world. They just beleive what the media tells them. Cheers.

I took my meds.
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POSTMASTER
  • #690,660
  • Oct 1, 2022 3:35pm Oct 1, 2022 3:35pm
Quoting digger1
{quote} For my old bud , a couple lines and what slowly transpired till it wasent slow Id like to think what you "thought " may have been different , and things would have been done differently , As said , I know you more into being a posistion trader , not where the CASH is at when it comes to this but to each there own. The second one , not really a option , ya came looking for something , it is a merry go round of free money so TAKE it , We getting old lol, next one is yours , dosent nexxicerily mean up either , any bias one gets should be because...
Nice chart, do you trade higher time frames for entries too?

regards
bilal
"Exchange of hands"
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