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Cable Update (GBPUSD)

  • #693,601
  • Oct 8, 2022 11:04am Oct 8, 2022 11:04am
closing shorts when market opens. will look to reload shorts around 1.13 - 1.1350
  • #693,602
  • Oct 8, 2022 11:07am Oct 8, 2022 11:07am
Quoting WizardTrade
We may see 1.07 in the coming week.
yes, h4 not yet seen the low, while d1 and w1 already.
Intraday only.
  • #693,603
  • Oct 8, 2022 11:17am Oct 8, 2022 11:17am
Quoting navk
{quote} yes, h4 not yet seen the low, while d1 and w1 already.
Yes. I am in for a short sell ride in the next week. Let's mint some more money.
WARNING: This post warps space and time in its vicinity.
  • #693,604
  • Oct 8, 2022 11:26am Oct 8, 2022 11:26am
this pair has been very consistent, when Truss decided to shoot her foot it went down further then it would normal go in a "normal" scenario, but it recovered perfectly to the last support level. So there is no reason to assume things didn't got back to normal.

By my doodles it went down 2 support levels when Truss decided to amaze us with her plan, and should now drop to this latest low of 1.03 in 2 stages, so i would stay next stop would be around 1.07, reversal, and then drop again to 1.03
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  • #693,605
  • Oct 8, 2022 11:34am Oct 8, 2022 11:34am
As there are those on the thread that think 0327 is the end of the higher t/f downtrends;

...was just looking on the 6Hr chart and there is indeed a repeating pattern of bullish hidden div @ last week's/fri's lo. It comes @ what will be a LL on that t/f when it forms fractally after 2 x LH's (so the t/f is exhibiting weakness - at the least!) but this what will be a LL coincides with what would be a HL (if/when it forms fractally) on the dly after the LH on that t/f @ 1495. So, no uptrend on the dly for such a hidden div signal on a t/f below, ie to get involved with a trend on a higher t/f, after a pullback, so a decreased probability of an upside move that will get above 1495 off this signal, but anything can happen. This bullish hidden div on this 6Hr t/f may stay valid whilst price is above 0761 (that 2nd HL on chart below.)

Remember though, per my post on Friday night (London time) 4hr may be in a new downtrend, (1hr is,) as is dly, and wkly. Mthly though not a fully formed downtrend (via fractal swing analysis) is very bearish with a virtual straight line fall off 4249.

6Hr below.
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Trader with an Edge.
  • #693,606
  • Oct 8, 2022 11:34am Oct 8, 2022 11:34am
Quoting birdland
{quote} you are the first who gives me invalueable info about how to hedge properly, thank you wave! so i can well imagine that with this kind of averaging i will quickly come out BE or with a small profit at some point and have bagged many pips in between. the account just has to withstand this drawdown. its a journey...
..as with everything takes time and patience, they say "repetition is the mother of skill" just keep going for a month or so on DEMO or until you feel right but then trade the smallest lots you can...thank you very much for the compliment. any other question please don't hesitate to ask
  • #693,607
  • Oct 8, 2022 11:36am Oct 8, 2022 11:36am
Quoting WizardTrade
We may see 1.07 in the coming week.
Well done with your TE...
  • #693,608
  • Oct 8, 2022 11:40am Oct 8, 2022 11:40am
Quoting WizardTrade
We may see 1.07 in the coming week.
I'm with you fellas. I'll be looking to short as soon as I think price has reached the peak. I'll see where potential spots to short will be. Also, I'm expecting USD/JPY to start making some significant progress up, so this may be one signal for 2 pairs, or as they say, two birds with one stone. On Daily chart buy seems to be rejected and 4H is still strong advising to short GBP/USD. Now the price is exactly at Support, so.. we'll see.

Another thing is, this week we have a more powerful news than NFP, which is CPI. If they don't create much play on the days before it, I expect nothing short of a complete madness on Thursday. Also, Advance GDP is getting closer and closer, also Cong. elections.. this month we'll have quite a ride..

Bailey speaks on Tuesday, albeit too late to cause anything significant in my opinion, but you never know. Also on Saturday which I find a little bit odd. Well Monday no news what so ever, so don't expect that much to happen, but'll still keep an eye on it. Alright..
  • #693,609
  • Oct 8, 2022 12:10pm Oct 8, 2022 12:10pm
Quoting Coreg2004
{quote} Waveski, please, relay the message that my cat is sitting by the window again and is determined to make other cats humble. Your cat walking to the refrigerator to take the beer is safe. Let's keep this thread in a light mood. {image}
Brilliant ..love it...
  • #693,610
  • Oct 8, 2022 12:10pm Oct 8, 2022 12:10pm
Quoting WizardTrade
We may see 1.07 in the coming week.
I am looking at below parity in the coming days months The reason is very very easy Find out The hint is energy
  • #693,611
  • Oct 8, 2022 12:24pm Oct 8, 2022 12:24pm
Quoting Headland
As there are those on the thread that think 0327 is the end of the higher t/f downtrends; ...was just looking on the 6Hr chart and there is indeed a repeating pattern of bullish hidden div @ last week's/fri's lo. It comes @ what will be a LL on that t/f when it forms fractally after 2 x LH's (so the t/f is exhibiting weakness - at the least!) but this what will be a LL coincides with what would be a HL (if/when it forms fractally) on the dly after the LH on that t/f @ 1495. So, no uptrend on the dly for such a hidden div signal on a t/f below, ie...
this is my h4 chart.

There is still room to go....

The NFP ( last hour before NY close )made the difference as you see in the chart.

But do not forget, h1 to m15 may retrace..
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Intraday only.
  • #693,612
  • Oct 8, 2022 12:28pm Oct 8, 2022 12:28pm
UK is charging the same electricity cost for rich and poor

And funding this with bond buying

In return this will weaken the currency in a very big manner

By January 2023I expect cable to be trading at 0.85
  • #693,613
  • Oct 8, 2022 12:50pm Oct 8, 2022 12:50pm
Quoting Pat Chiko
{quote} You're talking about me behind my back again Bryan...?.. (sound familiar, but where ?...) How are Bro. Hope the weekends fill with fun. Just came back for Party....nice... Unfortunately, it was a neighbor son birthday party - he's one year old today. I was scammed going into party full of children... Back to FF is more fun than that party....
Hahaha ...behind back....on a public forum
  • #693,614
  • Oct 8, 2022 12:59pm Oct 8, 2022 12:59pm
After months of hard work, time to reward my self.

Have a nice weekend everyone
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With courage, patience, and discipline, success is a matter of time.
  • #693,615
  • Oct 8, 2022 1:11pm Oct 8, 2022 1:11pm
I see more fall for the week to come on a daily chart.
More time in the market, does not mean you trade better!
  • #693,616
  • Oct 8, 2022 2:29pm Oct 8, 2022 2:29pm
Quoting Jolita
{quote} Smashing trades today Bilal. Nice soundtrack and video. Here is something for you. https://youtu.be/EI8RQw5u9EA
Thank you Jolito ! The track was nice.

I challenge myself sharing entries pinpoint and even where my SL gets hit.

I will learn more.

regards
bilal
"Exchange of hands"
  • #693,617
  • Oct 8, 2022 2:52pm Oct 8, 2022 2:52pm
Quoting nAVIN2007
{quote} I also see the same thing, the daily is showing a retrace to potentially go higher but at the same time, we could be diving deep.. question is, how much stronger can USD get..I feel not much time will tell and i know one thing, going forward..if i have to take a hit, i will happily after this
Hi Navin,
Thanks for your posts. A few years ago I decided to explore longer term trend trading. I am primarily a scalper which I don't share here, I have always been intrigued with longer term trading but I could never grasp how price could up by 1000 pips and drop by 500 pips. The same concept that goes for scalping 100 pips up and 50 pips down, I Believe that time plays a role in trading and for me 1.1000 is crux into the 4th Quarter. Simple stuff and I walk away from fundamentals.
Cheers
Trade to trade another day
  • #693,618
  • Oct 8, 2022 3:02pm Oct 8, 2022 3:02pm
Quoting Wavegarrick
{quote} Hi Navin, Thanks for your posts. A few years ago I decided to explore longer term trend trading. I am primarily a scalper which I don't share here, I have always been intrigued with longer term trading but I could never grasp how price could up by 1000 pips and drop by 500 pips. The same concept that goes for scalping 100 pips up and 50 pips down, I Believe that time plays a role in trading and for me 1.1000 is crux into the 4th Quarter. Simple stuff and I walk away from fundamentals. Cheers
I don't even look at the basics, for example, because I don't need it.
because it is very difficult to interpret correctly.

I'm a scalper.
  • #693,619
  • Oct 8, 2022 3:05pm Oct 8, 2022 3:05pm
Quoting Waveskierrob
{quote} Well done with your TE...
Thanks bro. Ready to blow this one too
WARNING: This post warps space and time in its vicinity.
  • #693,620
  • Oct 8, 2022 10:39pm Oct 8, 2022 10:39pm
Quoting Pat Chiko
{quote} You're talking about me behind my back again Bryan...?.. (sound familiar, but where ?...) How are Bro. Hope the weekends fill with fun. Just came back for Party....nice... Unfortunately, it was a neighbor son birthday party - he's one year old today. I was scammed going into party full of children... Back to FF is more fun than that party....
Lol, having great weekend on my side. You should have rocked the party in mickey mouse suit it was going to be real fun.
Plan your trades and trade your plan.
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