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Cable Update (GBPUSD)

  • #691,881
  • Oct 5, 2022 4:43am Oct 5, 2022 4:43am
Few hours to go

News Events this week (3rd Oct - 7th Oct)
3rd Oct - Monday - ISM Manufacturing PMI
4th Oct - Tuesday - JOLTS Job Openings
5th Oct - Wednesday - OPEC Meetings
5th Oct - Wednesday - ADP Non-Farm Employment Change
5th Oct - Wednesday - ISM Services PMI
6th Oct - Thursday - Unemployment Claims
7th Oct - Friday - Average Hourly Earnings m/m
7th Oct - Friday - Non-Farm Employment Change
7th Oct - Friday - Unemployment Rate

Attention to oil traders to pay close attention to the upcoming OPEC+ meeting.
The cartel is expected to reflect an increase of 400,000 bars per day

ADP Non-Farm Employment Change
The release, two days ahead of government data, is a good predictor of the government's non-farm payroll report.
The change in this indicator can be very volatile.
A higher than expected reading should be taken as positive/bullish for the USD, lower the reverse.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #691,882
  • Oct 5, 2022 4:44am Oct 5, 2022 4:44am
Quoting Bryan5229
Finally the reversal is at play on 30min chart although I anticipated this reversal below the targeted 1.14098.
Simple price structure.
Break and retest, let's see if price can continue going south.
Attached Image (click to enlarge)
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Plan your trades and trade your plan.
  • #691,883
  • Oct 5, 2022 4:45am Oct 5, 2022 4:45am
Quoting Yngwie
Take a risk 30 pips. Long 1.1398 SL 1.1368
This one hit my be +15pips only
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #691,884
  • Oct 5, 2022 4:47am Oct 5, 2022 4:47am
Quoting Pat Chiko
{quote} Nice reverse ...
Something strange and unusual on data processing on TradingView
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  • #691,885
  • Oct 5, 2022 4:49am Oct 5, 2022 4:49am
Quoting Pat Chiko
{quote} GU Induce buyer at Frankfurkt Taking their LQ Then, dumb it. RISE. RAISE. REPEAT. {image}
GU

Naked Trading.. Trade the price tell you to do.
S&R Trade.

Attached Image (click to enlarge)
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Go naked, you feel cooler.........
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #691,886
  • Oct 5, 2022 4:50am Oct 5, 2022 4:50am
Quoting tenkanzen
{quote} Hey Headland, thanks for the Heads Up (pun intended). But in future, could you put these in +X GMT? Would be easier to make the adjustment! Once again, thanks!
Sure, Uk as you probably know is on daylight savings time currently - so called 'british summer time' which is gmt+1 so it will be 1000am gmt.
Trader with an Edge.
  • #691,887
  • Oct 5, 2022 4:50am Oct 5, 2022 4:50am
Quoting Bryan5229
{quote} Simple price structure. Break and retest, let's see if price can continue going south. {image}
Perfect Trade Bryan....
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #691,888
  • Oct 5, 2022 4:52am Oct 5, 2022 4:52am
something wrong on the display of Centered Moving Averages - I close my position (in red)
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  • #691,889
  • Oct 5, 2022 4:52am Oct 5, 2022 4:52am
Quoting Pat Chiko
{quote} GU Naked Trading.. Trade the price tell you to do. S&R Trade. {image} Go naked, you feel cooler.........
I guess the dam is broken Pat..
Why TP so soon? This is going a lot more buddy!
  • #691,890
  • Oct 5, 2022 4:52am Oct 5, 2022 4:52am
Quoting Robinhood1
https://www.youtube.com/watch?v=Y1suXRxTKJs
This person will never be censored by youtube. He would bring Youtube down
POSTMASTER
  • #691,891
  • Oct 5, 2022 4:54am Oct 5, 2022 4:54am
Quoting Pat Chiko
{quote} Perfect Trade Bryan....
Thank you Pat.
Plan your trades and trade your plan.
  • #691,892
  • Oct 5, 2022 4:55am Oct 5, 2022 4:55am
Quoting Indiara
{quote} Are you referring to the S/R at the red line? If so, I really don't see it as anything super strong, especially in the GU market we have been having. You can see that yesterday the price went straight up to almost the 115 line with no problem at all. The red line area gave some support today, but that was more to do with the Daily Pivot I think. When the price came down from almost 115 today, that area gave no support at all. So again, I don't see it as anything special. I should not have entered a Buy under the Pivot, for sure, that was...
was that not a level to short off??? the red line you added. then my white line
Attached Image (click to enlarge)
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SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #691,893
  • Oct 5, 2022 4:56am Oct 5, 2022 4:56am
Quoting Waveskierrob
{quote} Closed GOLD LONG @ 1.1716 +52...live open live close it's that easy to show your trades in real time
Glad I closed GOLD when I did, not predicted just lucky I guess
  • #691,894
  • Oct 5, 2022 4:56am Oct 5, 2022 4:56am
Quoting TheWolf
{quote} I guess the dam is broken Pat.. Why TP so soon? This is going a lot more buddy!
I don't know how to reply in writtng, as englis is bad.
I was born to be Malaysia, non englis speaking native.
I post chart after this. Thousand apology
Thank you
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #691,895
  • Oct 5, 2022 4:57am Oct 5, 2022 4:57am
Quoting billytt
{quote} was that not a level to short off??? the red line you added. then my white line {image}
As it turns out, yes, you are right. That's what this discussion is all about, which is great as I learn all the time
I am neither brave nor stupid...I am just a part time trader
  • #691,896
  • Oct 5, 2022 4:57am Oct 5, 2022 4:57am
Quoting Pat Chiko
Few hours to go News Events this week (3rd Oct - 7th Oct) 3rd Oct - Monday - ISM Manufacturing PMI 4th Oct - Tuesday - JOLTS Job Openings 5th Oct - Wednesday - OPEC Meetings 5th Oct - Wednesday - ADP Non-Farm Employment Change 5th Oct - Wednesday - ISM Services PMI 6th Oct - Thursday - Unemployment Claims 7th Oct - Friday - Average Hourly Earnings m/m 7th Oct - Friday...

your forgetting 11am UK Liz Useless speaks
Insane in the Brain..
  • #691,897
  • Oct 5, 2022 4:57am Oct 5, 2022 4:57am
come on !
break it down !!!
Attached Image (click to enlarge)
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yes yes yes
  • #691,898
  • Oct 5, 2022 4:57am Oct 5, 2022 4:57am
Quoting Indiara
{quote} Are you referring to the S/R at the red line? If so, I really don't see it as anything super strong, especially in the GU market we have been having. You can see that yesterday the price went straight up to almost the 115 line with no problem at all. The red line area gave some support today, but that was more to do with the Daily Pivot I think. When the price came down from almost 115 today, that area gave no support at all. So again, I don't see it as anything special. I should not have entered a Buy under the Pivot, for sure, that was...
I dont use Pivots, I use only S/R, Liquidity zone and Order block (1hr and 4hr).

But the fact that at 11422 zone it was a Support for the range. But when you took the trade, it becomes a resistance.

One day, dont enter any position, just sit and watch how the candlestick is forming at the support or resistance(i use 30 mins)
You will see for first 15-20mins of the 30mins, the buyers will hold the support (/sellers will hold the resistance); but in the last 5-10mins, the price went through that level.
So there are many trapped buyers at support and sellers at resistance.

Out of panic, some will took the loss. The richer one will let the loss floating and will do some sort of highly intellect thing to manage their risk.
Others will set their SL at BE: which means liquidity.

So trapped buyers will close their losing buy orders at their entry price= creating sell pressure.
Other traders with the same school of thought using S/R flip (RSF setup), will short and add to the selling pressure more.

The price action rn depicts the same explanation, the 11422 support becomes resistance on the previous 30mins and the bullish engulfing candle also failed to penetrate that 11422 on its close (30mins) = high selling pressure

Hope i explained that well, cause sometimes it is very difficult to put what you understood in words as i dont have fluent english

Regards,
Fardeen
More time in the market, does not mean you trade better!
  • #691,899
  • Oct 5, 2022 4:59am Oct 5, 2022 4:59am
Quoting parisboy
{quote} Something strange and unusual on data processing on TradingView {image}
Maybe you need to reboot and reset those chart again.
Some minor...Technical glitch...Maybe
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #691,900
  • Oct 5, 2022 5:00am Oct 5, 2022 5:00am
Quoting Fardeen1209
{quote} I dont use Pivots, I use only S/R, Liquidity zone and Order block (1hr and 4hr). But the fact that at 11422 zone it was a Support for the range. But when you took the trade, it becomes a resistance. One day, dont enter any position, just sit and watch how the candlestick is forming at the support or resistance(i use 30 mins) You will see for first 15-20mins of the 30mins, the buyers will hold the support (/sellers will hold the resistance); but in the last 5-10mins, the price went through that level. So there are many trapped buyers at support...

Thank you for the explanation, I understand. All information is good because I learn from it. The good thing is that I learned and I lost nothing, so it's like winning
I am neither brave nor stupid...I am just a part time trader
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