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Cable Update (GBPUSD)

  • #694,241
  • Oct 10, 2022 11:53pm Oct 10, 2022 11:53pm
Quoting Yngwie
{quote} Awesome let buy any fall
Thanks for the signal Bro.
I'm going LONG for GU.

Good signal....

Attached Image (click to enlarge)
Click to Enlarge Name: gu 090.jpg Size: 86 KB
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #694,242
  • Oct 10, 2022 11:53pm Oct 10, 2022 11:53pm
Hello trading friends

I had an early finish today because I started early, so it's nice to be here and to not have to hurry too much. Market seems slow today so perhaps will be a long session in the long grass!
I am neither brave nor stupid...I am just a part time trader
  • #694,243
  • Oct 10, 2022 11:57pm Oct 10, 2022 11:57pm
Quoting Indiara
Hello trading friends I had an early finish today because I started early, so it's nice to be here and to not have to hurry too much. Market seems slow today so perhaps will be a long session in the long grass!
75 pip move on GU during Asia is not particularly slow!
  • #694,244
  • Oct 10, 2022 11:58pm Oct 10, 2022 11:58pm
Quoting vulcann1
{quote} 75 pip move on GU during Asia is not particularly slow!
And Gu Just hit yesterdays low Just a few Minutes before the top of the hour!
  • #694,245
  • Oct 11, 2022 12:01am Oct 11, 2022 12:01am
Took short
Y's long wick bullish daily candle's low , has broken
Attached Image (click to enlarge)
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yes yes yes
  • #694,246
  • Oct 11, 2022 12:06am Oct 11, 2022 12:06am
Quoting Pat Chiko
{quote} Hi Wizard. looking at the U.S dollar is wreaking havoc globally, and it's only just starting to pick up momentum..... (Waiting for Bear party) You'd have thought by now that other nations would have bailed from its hegemony. But in reality, there's no way out... Looking at current economic situation, the Fed is likely to raise rates higher than anyone expects. The Fed doesn't seem to care much that additional interest rate rises will inflict significant pain on the rest of the world. Even, the United Nations warned the Federal Reserve to...
Hello Pat, I have another theory that I thought of when I was having an unusual, for me, deep thinking session at my lunchtime

If the Fed continues to raise rates without regard for the consequences to other nations, perhaps they will shoot themselves in the foot, and make the very thing that they don't want to happen, happen! That is to lose the reserve currency status, which would have devastating consequences to the USA economy. I think like this because if buying products from USA gets very much more expensive, to the level that other countries may struggle, then these other countries will look for another supplier in other countries. Of course this may cause some hardship as some products would not be available from other nations, but it would be better than the alternative.

The exchange rate between other countries (not including USA) has not changed to the level of USD/xxx, so these other nations could trade between themselves and this would be damaging to USA exports, and economy. Also, the other nations would not need to use USD to trade as USA might be seen as an economically hostile country so the Euro might be used or the Yuan or another currency. Much trade is already being done in Yuan currency. If all this were to happen, China, being the 2nd largest economy would be in a great position to take over as not only the worlds reserve currency, but quickly would become the worlds largest economy. If that were to happen, it would be devastating for USA and would be the exact thing that the Fed is trying to prevent.

I am sure there is a zillion reasons why this thinking of mine is crazy but is another angle to explore in the world of fundamentals that I know not much about
I am neither brave nor stupid...I am just a part time trader
  • #694,247
  • Oct 11, 2022 12:06am Oct 11, 2022 12:06am
Quoting Pat Chiko
{quote} BUY..? I'm ready to copy trade.. Hi Wizard, how's things at home ?. Getting colder now moving towards Dec.
My outlook is still bearish. Let's see how things roll out afterwards.

Hi Pat the King, it's good and I am little bit busy planning my goals for the next year. Hope to catch you during the bearish ride if ever you tumble upon shorts
WARNING: This post warps space and time in its vicinity.
  • #694,248
  • Oct 11, 2022 12:08am Oct 11, 2022 12:08am
POSTMASTER
  • #694,249
  • Oct 11, 2022 12:08am Oct 11, 2022 12:08am
Quoting Svetul4o
{quote} Ultimately I believe that we have very little in the way of reliable information to connect the dots in a meaningful picture that translates in market actions. That is why I just don't bother with such analysis and follow the trend.

I agree with you on such situation not many trader are looking at Macro in trading compares to TA.
It is in depth study and research in the ever changing world condition.

As macro focuses on the performance of economies – changes in economic output, inflation, interest and foreign exchange rates, and the balance of payments, it is important to get reliable data from reliable source. Mostly are from subscription service like Bloomberg, Reuters et-cetra.

It is safe for a trader not to bother with the hardly discuss macro-economics because the risk of not competent enough to do so.
Better not to have an opinion about things we don't understand.

Take care & Trade Safe.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #694,250
  • Oct 11, 2022 12:10am Oct 11, 2022 12:10am
Attached Image (click to enlarge)
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  • #694,251
  • Oct 11, 2022 12:10am Oct 11, 2022 12:10am
Exit short , switched to long
Looks like false break
Attached Image (click to enlarge)
Click to Enlarge Name: IMG_20221011_080912.jpg Size: 432 KB
yes yes yes
  • #694,252
  • Oct 11, 2022 12:11am Oct 11, 2022 12:11am
Quoting WizardTrade
{quote} My outlook is still bearish. Let's see how things roll out afterwards. Hi Pat the King, it's good and I am little bit busy planning my goals for the next year. Hope to catch you during the bearish ride if ever you tumble upon shorts

I will wait for your signal to copy trade ...
Just drop the signal in this thread....
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #694,253
  • Oct 11, 2022 12:12am Oct 11, 2022 12:12am
Quoting vulcann1
{quote} 75 pip move on GU during Asia is not particularly slow!
Perhaps, but it hasn't been able to move beyond yesterdays range, so not much progress either way
I am neither brave nor stupid...I am just a part time trader
  • #694,254
  • Oct 11, 2022 12:12am Oct 11, 2022 12:12am
Attached Image (click to enlarge)
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  • #694,255
  • Oct 11, 2022 12:13am Oct 11, 2022 12:13am
Quoting Pat Chiko
{quote} Better not to have an opinion about things we don't understand
I agree boss that's why I never touch the fundamentals
WARNING: This post warps space and time in its vicinity.
  • #694,256
  • Oct 11, 2022 12:14am Oct 11, 2022 12:14am
Quoting Indiara
{quote} Hello Pat, I have another theory that I thought of when I was having an unusual, for me, deep thinking session at my lunchtime If the Fed continues to raise rates without regard for the consequences to other nations, perhaps they will shoot themselves in the foot, and make the very thing that they don't want to happen, happen! That is to lose the reserve currency status, which would have devastating consequences to the USA economy. I think like this because if buying products from USA gets very much more expensive, to the level that...
But but.. they said they were not hiking to make Dolla' strong but to achieve their price stability target.
Even tho, IMO majority of countries were already trade in Yuan, and many are buying their supplies from Producing countries like China (as you mentionned, India and the neighbouring countires)
What you were thinking is likely to happen.
But lets hear it from PAT to see what he had to add on the matter.
More time in the market, does not mean you trade better!
  • #694,257
  • Oct 11, 2022 12:14am Oct 11, 2022 12:14am
Quoting Pat Chiko
{quote} I will wait for your signal to copy trade ... Just drop the signal in this thread....
Sure
WARNING: This post warps space and time in its vicinity.
  • #694,258
  • Oct 11, 2022 12:18am Oct 11, 2022 12:18am
Quoting Pat Chiko
{quote} I will wait for your signal to copy trade ... Just drop the signal in this thread....
Break of this level is a short opportunity
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WARNING: This post warps space and time in its vicinity.
  • #694,259
  • Oct 11, 2022 12:19am Oct 11, 2022 12:19am
Quoting Moty
Exit short , switched to long Looks like false break {image}
Copy Moty's trade..

P/s Moty, please inform me when you exit., I want to copy too.

Attached Image (click to enlarge)
Click to Enlarge Name: gu 091.jpg Size: 93 KB
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #694,260
  • Oct 11, 2022 12:19am Oct 11, 2022 12:19am
Took short uj
Attached Image (click to enlarge)
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yes yes yes
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