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Cable Update (GBPUSD)

  • #693,641
  • Oct 9, 2022 1:44am Oct 9, 2022 1:44am
Quoting suhas316
{quote} GBP/USD 4H chart {image}
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!! Radha Radha !!
  • #693,642
  • Oct 9, 2022 1:57am Oct 9, 2022 1:57am
Quoting Yngwie
{quote} After 33 hours finally touchdown 234 pips very last minute before market closed.
Well done Yngwie , and thanks for posting LIVE trades many .for you...
  • #693,643
  • Oct 9, 2022 2:03am Oct 9, 2022 2:03am
Quoting vulcann1
{quote} Come on Please learn price action, the market makers play a game and when you see their plays you can trade with them, everything else is nonsense, what the BOE or us fed makes no difference if you can read the price action. I do not trade the news and never will., 15 minutes after I would take trades! But even then why? Look carefully at your charts and tell me where the traders are in profit from swing highs or lows, the market will go back and take them out!!!!!! LOok ,Look, Look! When you get this you will know what to do. All the education...
..and this help is free....right
  • #693,644
  • Oct 9, 2022 2:13am Oct 9, 2022 2:13am
Quoting PapaSmurf-fx
{quote} I am always eager to learn what ever I can from the seasoned traders here. As a newbie I make some good trades and also make some miserably poor trades.... never gain a lot of ground... but do manage to keep from blowing my account. Keep my stop loss set too tight sometimes and sometimes it is good. Like to keep my stop loss set between 10 and 15 pips. Mostly need to get my entry more precise. At present I am a perpetual newbie trying to gain a better understanding. So any help is good help in my book. Thanks for offering to share what you...
learn forex trading from this guy - he is the best teacher in the world

see his video

Inserted Video
  • #693,645
  • Oct 9, 2022 2:17am Oct 9, 2022 2:17am
This week we have a great opportunity to short long term GBP/USD which is exactly what I'm going to do. Whatever happens at FOMC Meeting it will be bullish for USD. The only logical path price can take now is to go test lower levels.

Now, the reasoning.. we have awful news worldwide. Tension is building all around. Forecast for GDP (GBP) has already been corrected from 0.1% to 0.0%. Fear among investors is starting to be felt all around. Some firms are already looking to relocate to US. Another thing... we are not even halfway through the crisis which will struck us all, halfway! People still live somewhat decent, not great, but it's still bearable. We are very close to breakdown.

Then, when time comes and it's soon, where do you think money will end up? Which currency will annihilate all of its competition? As said, we haven't seen anything yet. Thinking Pound and Euro have reached the lows.. That huge drop Pound and Euro had in 2007-08 is about to happen. Real question is not if Pound will drop below parity against USD, yet how soon! I believe last week's candle just marked the begininning of a downfall for Pound and Euro. On Monday I expect a decent retracement to deceive people to think the Support held and that price is going to 1.15 again. Halfway there, the fall will begin.

In a month or two, 1.15 is going to look like 1.35 is looking now, entirely impossible.

Last Q 4/4..
The game has been set up. Every road from now on ends in USD.

What we are witness is reevaluation of currencies.
USD and JPY will destroy everything in their path. The moment negative rates end, I can only imagine.. They know exactly what they're doing with Yen. Flash crash is inevitable.
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  • #693,646
  • Oct 9, 2022 2:18am Oct 9, 2022 2:18am
Wave "5" is finished or we will see 1.0950 for abc correction?
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  • #693,647
  • Oct 9, 2022 2:22am Oct 9, 2022 2:22am
Quoting navk
As a newbie one must trade 4hr, daily charts with large stop. Tight stop will get hit if you are newbie. Tight stops may be suitable for Experienced pros

  1. last week GBPUSD made a new all time low
  2. then news came that BOE started bond buying to support GBP

BUT nobody knew the real reason

after reading this real reason i am one million % sure you will agree with my 0.85 view on GBPUSD

the uk mini budget was quickly withdrawn

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  • #693,648
  • Oct 9, 2022 2:25am Oct 9, 2022 2:25am
Quoting PatienceFx
{quote} last week GBPUSD made a new all time low then news came that BOE started bond buying to support GBP BUT nobody knew the real reason after reading this real reason i am one million % sure you will agree with my 0.85 view on GBPUSD the uk mini budget was quickly withdrawn {image}
I agree. Euro is about to visit all-time lows at 0.82.
Just imagine..real panic is just about to start..

What is the safest place to put your money in when WW3 could potentially start?
Which currency appreciates when there is chaos?

USD is now practically at parity with CHF and my system is telling me that USD will soon crush CHF. Now the question is, if USD will crush CHF, what fate will Pound and Euro experience?
  • #693,649
  • Oct 9, 2022 2:29am Oct 9, 2022 2:29am
Vety important levels to watch
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  • #693,650
  • Oct 9, 2022 2:38am Oct 9, 2022 2:38am
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  • #693,651
  • Oct 9, 2022 2:43am Oct 9, 2022 2:43am
Quoting TheWolf
{quote} I agree. Euro is about to visit all-time lows at 0.82. Just imagine..real panic is just about to start.. What is the safest place to put your money in when WW3 could potentially start? Which currency appreciates when there is chaos? USD is now practically at parity with CHF and my system is telling me that USD will soon crush CHF. Now the question is, if USD will crush CHF, what fate will Pound and Euro experience?
services and defense industry is all weather investment

any market condition, they give good returns

in currencies USDJPY always gives good returns
  • #693,652
  • Oct 9, 2022 2:50am Oct 9, 2022 2:50am
Quoting PatienceFx
{quote} services and defense industry is all weather investment any market condition, they give good returns in currencies USDJPY always gives good returns
in India

  1. India and pakistan are always firing bullets and bombs at each other and companies which manufacture those items give 60% to 70% annual returns to shareholders

  • #693,653
  • Oct 9, 2022 3:05am Oct 9, 2022 3:05am
Cable trend is currently upwards on opening
  • #693,654
  • Oct 9, 2022 3:55am Oct 9, 2022 3:55am
Quoting Houtbay
Cable trend is currently upwards on opening
Is the current 'uptrend' simply people locking in profits before the weekend? There is a lot of bearish sentiment in everything but the dollar especially as a result of European energy costs heading into winter!
  • #693,655
  • Oct 9, 2022 4:02am Oct 9, 2022 4:02am
Quoting PatienceFx
{image}
Honestly.. news from GB doesn't matter at all anymore. On Friday we were shocked by unemployment rate. Forecast for Y/Y CPI, well they think rates finally started to affect inflation and are expecting to see inflation slowing down some in this weeks report on Y/Y.

Let's not forget what Powell said. OUR TARGET IS TO GET INFLATION TO 2% DESPITE EVERYTHING. INFLATION IS THE BIGGEST PROBLEM PEOPLE ARE DEALING WITH RIGHT NOW AND WE ARE FULLY COMMITTED TO RESTORE PRICE STABILITY AND GET INFLATION TO THAT 2% GOAL. WE WILL NOT STOP UNTIL OUR GOAL IS REACHED!

Now, Y/Y sits at 8.3% and forecast is 8.1%. If bringing down inflation is the ONLY problem Fed is dealing with right now and it seems it is, I can only imagine where rates will go if this weeks report doesn't meet forecast, but inflation turns out to be quite different.

This report is the main thing guiding Fed now when considering how high rates should go and last unemployment rate just gave Fed great opportunity to get real and get fast. Combined with CPI report this Thursday, if it is slightly above forecast, Pound shall be destroyed. I don't expect much on FOMC, but CPI...I don't think Pound will recover that fast after that if the number comes in green.

There are no Bailey's that are going to save the Pound from this. Same fate awaits other currencies not just Pound.
  • #693,656
  • Oct 9, 2022 4:13am Oct 9, 2022 4:13am
Quoting TheWolf
{quote} Honestly.. news from GB doesn't matter at all anymore. On Friday we were shocked by unemployment rate. Forecast for Y/Y CPI, well they think rates finally started to affect inflation and are expecting to see inflation slowing down some in this weeks report on Y/Y. Let's not forget what Powell said. OUR TARGET IS TO GET INFLATION TO 2% DESPITE EVERYTHING. INFLATION IS THE BIGGEST PROBLEM PEOPLE ARE DEALING WITH RIGHT NOW AND WE ARE FULLY COMMITTED TO RESTORE PRICE STABILITY AND GET INFLATION TO THAT 2% GOAL. WE WILL NOT STOP UNTIL OUR GOAL...
You're forgetting how rates impact investment and how the currency will affect exports. I fell like everyone is. And the higher it goes the worst it will be. This effect just lags too much on the economy for you to see an immediate effect. As contracts run their course this will be more apparent.
  • #693,657
  • Oct 9, 2022 4:19am Oct 9, 2022 4:19am
[quote=bilal1947;14171180]{quote} 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[/quote


Hi B,, thanks for sharing your trades, always clean and easy to read. Your SL is so tight, no way I could put this close on my trades, will be taken straight away, also spreadbetting has larger spreads then normal. I do like to practise amending to positive SL, then trade is safe and if closed, reentered at better level. Good trading to you.

GnuS Cello player performance always flawless, gives me goosebumps. I listen to most of his covers. Brilliant he can perform what he loves the most and gets rewarded with millions of views.
Rgs, J
  • #693,658
  • Oct 9, 2022 4:30am Oct 9, 2022 4:30am
Quoting Polimini
{quote} You're forgetting how rates impact investment and how the currency will affect exports. I fell like everyone is. And the higher it goes the worst it will be. This effect just lags too much on the economy for you to see an immediate effect. As contracts run their course this will be more apparent.
It will definitely get worse. Recession is inevitable from this point for everyone. It just doesn't matter anymore. Powell made it clear they know what's coming (recession), but it just does not matter. They will keep raising rates as long as it is possible to do so. Powell made it clear they know how this affects people but there is nothing Fed is able to do about it from this point on. Yes, they're risking depression, but this is the risk they are willing to take and will take.

I told you, we are not even halfway through the shit we are about to go through.

It sounds really bad but... it is what it is.

DXY next stop is at 120.

"Fed Officials Won’t Relent on Path to 4.5% and May Move Higher" - Bloomberg (they are telling you right now what to expect).
  • #693,659
  • Oct 9, 2022 4:39am Oct 9, 2022 4:39am
We should have big volatility this week. Trend is down, but I think we'll have spikes up too. Prepare for anything.
We'll have rate rise, intervention, inflation numbers should not be as high, due to sustained fuel price during last months, dollar oversold, pound needs helping hand from collapsing. Scalping (Rob's style) is safest option.
We also hear reassumed talks on Scottish independence referendum for next year.

GU 10 pips lower atm on weekend rate.
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  • #693,660
  • Oct 9, 2022 4:40am Oct 9, 2022 4:40am
Quoting TheWolf
{quote} Honestly.. news from GB doesn't matter at all anymore. On Friday we were shocked by unemployment rate. Forecast for Y/Y CPI, well they think rates finally started to affect inflation and are expecting to see inflation slowing down some in this weeks report on Y/Y. Let's not forget what Powell said. OUR TARGET IS TO GET INFLATION TO 2% DESPITE EVERYTHING. INFLATION IS THE BIGGEST PROBLEM PEOPLE ARE DEALING WITH RIGHT NOW AND WE ARE FULLY COMMITTED TO RESTORE PRICE STABILITY AND GET INFLATION TO THAT 2% GOAL. WE WILL NOT STOP UNTIL OUR GOAL...
simple, just turn this chart
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