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Cable Update (GBPUSD)

  • #691,621
  • Oct 4, 2022 11:24am Oct 4, 2022 11:24am
Quoting dantpm
{quote} So your target for this wedge is 1.09?
I don't have one - I'm not that of girl! I just mark the potential pattern to add to confluence of the stuff I do which is described in my signature at bottom of each post.
Trader with an Edge.
  • #691,622
  • Oct 4, 2022 11:24am Oct 4, 2022 11:24am
I think the end of this move for gbp/usd is 1.1514
  • #691,623
  • Oct 4, 2022 11:25am Oct 4, 2022 11:25am
Quoting Georginson
{quote} Now I have sold GU at 1.1475... target is 1.1400. I still have two sell trades on EU floating.
Hey George, how are you enjoying your intraday/scalping style at the moment? Are you a convert or just a refugee from your 'main' style lol? Will you go back to position/swing once markets settle down a bit?
Trader with an Edge.
  • #691,624
  • Oct 4, 2022 11:27am Oct 4, 2022 11:27am
Quoting Headland
{quote} Hey George, how are you enjoying your intraday/scalping style at the moment? Are you a convert or just a refugee lol? Will you go back to position/swing once markets settle down a bit?
Yes I will go back to position/swing trading when market stabilizes but that will be next year,
I will be doing scalping and intraday for the rest of this year.
Data + Stat + Risk/Emotions Management
  • #691,625
  • Oct 4, 2022 11:28am Oct 4, 2022 11:28am
min for target #2 has been reached.
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Always trade your own plan...I don't provide trading signals.
  • #691,626
  • Oct 4, 2022 11:28am Oct 4, 2022 11:28am
If they pull parity and 1.15 today I AM LIKING IT VERY MUCH. As Kareem says, yummy yummy! This plane is going down with the pilot passed out! Passengers attention!
  • #691,627
  • Oct 4, 2022 11:35am Oct 4, 2022 11:35am
Quoting tonyb123
{quote} It could. This is a well known pattern for a reversal and it is at a numerical point of interest on my grid scale sequence. {image}
Stopped out
MY GRID. Markets are NOT random.
  • #691,628
  • Oct 4, 2022 11:36am Oct 4, 2022 11:36am
Quoting BeeTogether
{quote} the artificial high is really strange, there is nothing from a uk perspective that warrants it… more strikes soon , more issues high mortgage rates and yet the pound is rising.
The higher it climbs, the harder it falls and the more profits the money makers make. So they must be planning to reap a shipload on the fall.
To free Gazans of Hamas, use whatever it takes.
  • #691,629
  • Oct 4, 2022 11:37am Oct 4, 2022 11:37am
Quoting Yngwie
{quote} Sell order 1.1473 SL 1.1500
Seems to be premature to me, considering that not even M1 was in a down trend yet.
To free Gazans of Hamas, use whatever it takes.
  • #691,630
  • Oct 4, 2022 11:37am Oct 4, 2022 11:37am
Been holding GU and GJ buys since Sunday. More than likely holding til October 14th, especially with dollar being slightly weak and full moon is coming up. BOE is helping us out. Better to stick with the trend and stack on retracements
Software Developer and Music Producer
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  • #691,631
  • Oct 4, 2022 11:38am Oct 4, 2022 11:38am
Quoting Fardeen1209
closing uj shorts. +25pips DXY might retrace from here for another leg down.
Was a conducive day today. Made a lot of easy money, as trend was one way.
Expect some retrace in late NY and may be in Asian, then up again.
My only regret, i close that my UJ short too soon, since i already waited for 5hr and saw UJ ranging for ~40pips only. And didnt short again even tho rejection clearly showed at my N3 level.

Valuable Lesson learned!
Need to be more patient with a winning trade. and can always add one more little position to your N3 level if clear rejection appeared( as long as you are not risking more then your usual % of your total capital)!
More time in the market, does not mean you trade better!
  • #691,632
  • Oct 4, 2022 11:38am Oct 4, 2022 11:38am
Quoting TheWolf
{quote} Pat, considering Euro is still in deep shit, Pound also, don't you think this might be our last time we will witness Euro and Pound this high against Yen? Even Kuroda's sense of urgency is a piece of cake as to how urgent I am about this! Ummm, it would insanely awesome if we catch this trade for it will go a miles away. Kuroda speaking with bussiness men on Thursday. I have a feeling this is that last Weekly candle this high for these pairs EUR/JPY and GBP/JPY. Now, expecting the Pound to continue going up like this is insanity...
This was last week. Japanese Yen vs British Pound. Race to the bottom.
But, GBP has moved up a bit against USD. Yen is still lagging behind.
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Considering the Euro is at parity with the Dollar, 1.08 was the lowest it hit there.
Japanese Yen dropped 10 points despite struggling as a currency itself (not a big reserve) and GBP drop further against Chinese yen.

Even with Foreign Exchange Market Intervention, the Japanese Yen continues to weaken.
As interest rate differentials widen between Japan and other major economies, the Japanese Yen continues to weaken.

Then we have Japanese Yen a bit shaky with North Korea Missile fired a Missal over Japan

Since the local top 165.200 has passed, then the level 166.320 and the key top 168.00 will become the next possible striving points.
Maybe some corrective move here as I am considering the possibility of decline to the level of 162.750.

I seeing Japan is just a zombie economy.
Massive debt to GDP, aging demographics, no wage growth.
When all the CB’s were at zero rates it worked.
Not so sure if the world is hiking rates and they cant.
Time will tell.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #691,633
  • Oct 4, 2022 11:46am Oct 4, 2022 11:46am
... a prev minor 4hr sw lo zone = prev supp = pot sbr / Wkly R1 @ current dly hi. Next prev 4hr/dly pot res zone is the prev sw hi to 1738.

4hr below
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Trader with an Edge.
  • #691,634
  • Oct 4, 2022 11:48am Oct 4, 2022 11:48am
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will it make the big number . I am out of longs 1.470 half that 500 pip move would be a good trade back . Then bounce to over 1.2
  • #691,635
  • Oct 4, 2022 11:49am Oct 4, 2022 11:49am
The central banks currency wars begin.
Who else is joining the fight?
How about China ?
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #691,636
  • Oct 4, 2022 11:50am Oct 4, 2022 11:50am
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yes yes yes
  • #691,637
  • Oct 4, 2022 11:51am Oct 4, 2022 11:51am
Will be going long again GBP/USD in the trenches. Last 24hrs have been nice.
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  • #691,638
  • Oct 4, 2022 11:54am Oct 4, 2022 11:54am
...nice 30pip+ sell-ff there...was also 61.8% upside ext of y/day's lo-hi range @ current dly hi

1hr below
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Trader with an Edge.
  • #691,639
  • Oct 4, 2022 11:54am Oct 4, 2022 11:54am
Quoting Yngwie
{quote} Sell order 1.1473 SL 1.1500
Closed 1.1450. Enough for today. See ya guys
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #691,640
  • Oct 4, 2022 11:58am Oct 4, 2022 11:58am
Quoting Traderview
{image}{image}
After
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