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Cable Update (GBPUSD)

  • #695,041
  • Oct 12, 2022 2:53am Oct 12, 2022 2:53am
party time ..
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  • #695,042
  • Oct 12, 2022 2:54am Oct 12, 2022 2:54am
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  • #695,043
  • Oct 12, 2022 2:55am Oct 12, 2022 2:55am
Back from school run.. again a huge 60 pip drop in one minute? Did Liz or Kwazi remove their muzzles again?
Insane in the Brain..
  • #695,044
  • Oct 12, 2022 2:55am Oct 12, 2022 2:55am
Quoting tenkanzen
{quote} {image}
"Japan finmin: US has shown understanding on Tokyo’s FX intervention"

"Last month, Japanese authorities sold dollars and bought yen in a market intervention for the first time in 24 years, spending 2.8 trillion yen ($19.2 billion) to slow a rapid slide in the yen that was considered a threat to the economy.
Market players were closely watching how Suzuki might explain Japan’s stance on intervention and whether the country would gain backing from the United States and other countries at the Group of 20 meeting in Washington this week.
While Japanese officials have said they do not necessarily need US consent for action in the currency markets, they repeatedly stress the importance of seeking US understanding, which is seen as lending them legitimacy.
Investors see solo action by Japan being far less effective than concerted intervention." - Reuters

It seems like intervention is imminent, so watch out! If I had to bet, if CPI boosts USD even more, we will witness intervention very soon after.
As was said: US has shown understanding on Tokyo's FX intervention

Kanda was quoted as telling reporters that he could make a decision on currency intervention anywhere, including from an airplane. LoL

I guess they had enough. Also, this is very likely going to be joint intervention with US, so prepare for "a little" bit more than 500 pips we had the last time.
Cannot even imagine what will happen to GBP/JPY...
One weekly candle in 07-08 on GBP/JPY was 4000 pips.. 800 pips Daily..
Prepare for unpreparable!
  • #695,045
  • Oct 12, 2022 2:55am Oct 12, 2022 2:55am
Quoting billytt
{quote} forget the trend. if you have a plan, you trade it. Question? if everyone traded with the trend, we would have no losers?. Tell me why this is wrong? <<<< anyone tell me. I am trying to make a point, i am not being smart.
What if part of your plan is to only trade with the trend?
Compulsions can be hard to resist
  • #695,046
  • Oct 12, 2022 2:56am Oct 12, 2022 2:56am
Quoting Jolita
{quote} Really? Suprised, doesn't sound like you, you seem you love women so much, maybe only need to meet the one to fall in with.
I love flirting, this is why i never married

and this is exactly how i trade, quick scalps

peck and go
  • #695,047
  • Oct 12, 2022 2:57am Oct 12, 2022 2:57am
Quoting shad4u2
{quote} Hi, Sorry for your loss could you please tell why SL is larger than TP is this your style and how you handle it if trade goes against you. Best wishes. Thank You. $
I try to put SL out of reach of the general movement of the market. Many people have SL too close and they hit often. Is not 'Stop Hunt' is poor placement of SL, imo. My hardest trade is the first one of the week because if I lose, I have to spend money from the account. This week (up until this trade) I had +66 pips to 'spend' on a SL and not touch the account if I lose. So I regard this weeks profit as 'disposable' and the account is not harmed. Of course now that I lost this disposable fund, I have to risk account money for the next trade, which will mean that I had better be more wise in my trading choice!!

I know that I can lose this disposable funds, and is ok with me. I can recover this loss, if not today, then maybe this week. Losing this is just part of the business....part of the poker game. A poker champion doesn't win every hand....she just wins more than she loses

Is important to keep smiling
I am neither brave nor stupid...I am just a part time trader
  • #695,048
  • Oct 12, 2022 2:58am Oct 12, 2022 2:58am
Quoting dantpm
WizardTrade I hate to be the one to tell you what to do but you are wasting too much time on the wrong topic. To be fair right now we all are!
That's because people prefer feeding on DRAMA rather than on reality.
To free Gazans of Hamas, use whatever it takes.
  • #695,049
  • Oct 12, 2022 3:00am Oct 12, 2022 3:00am
Quoting billytt
{quote} Don't get me onto trends? lol The way i trade they do not exist.
Billy, you are an advance pro trader.
Please share your views to survive in this market. Thank you!
  • #695,050
  • Oct 12, 2022 3:00am Oct 12, 2022 3:00am
Quoting Waveskierrob
{quote} This one obviously...{image}
Despite that environment and culture, it is clear that he has not been able to master control of his emotions.
To free Gazans of Hamas, use whatever it takes.
  • #695,051
  • Oct 12, 2022 3:00am Oct 12, 2022 3:00am
this MPC member speaking right now
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  • #695,052
  • Oct 12, 2022 3:01am Oct 12, 2022 3:01am
Reminds me of the Brexit negotiation days. There were days when we went up or down 200 pips four times a day.

I have to start playing these news releases better, both spike up on the fake news during the night and spike down on the BOE reaction were utterly predictable (and I did predict them here). The problem is, it is difficult to get the timing right.
  • #695,053
  • Oct 12, 2022 3:01am Oct 12, 2022 3:01am
Short 1.0975
Don't trade what you think. Just what you see!!!
  • #695,054
  • Oct 12, 2022 3:01am Oct 12, 2022 3:01am
Quoting Pat Chiko
{quote} Thanks for your reply. Looking forward for your sharing in this thread. Phil Mickelson once said : "Each golf shot/trade is a learning opportunity." It's not a competition here to show who's the best trader around (Some ever claimed to be The Best Trader Ever lived 3.0....) In golf you play the ball where it lies. You can hit a great shot and find it in a divot and you must play from there. In trading you can make a good trade, find yourself underwater in losses, and must trade out of the position. (Quote from : Golf is not a Game...
Well the deal is that this forum has all types of traders! I am a Price action day trader using mainly the 15 min charts and go to the 1 minute charts when I see that the High of day or low of day are locked in. I call that the peak formation high or low. Anyway if somebody is trading on a larger time frame they can not see the smaller patterns so I can not help them understand my method, or my knowledge of the market! My mentor is Stacey Burke he has a you tube channel and I have studied him for over 2 years and that is when I became profitable. It would take me far to long to teach what I know in here to help much! I am thinking to go slow and earn some respect! It will be a challenge at 65 to assimilate to most here that are younger then my children but I welcome it!
Thanks again, My real name is Bill
  • #695,055
  • Oct 12, 2022 3:02am Oct 12, 2022 3:02am
Quoting BeeTogether
Back from school run.. again a huge 60 pip drop in one minute? Did Liz or Kwazi remove their muzzles again?
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  • #695,056
  • Oct 12, 2022 3:04am Oct 12, 2022 3:04am
Quoting vulcann1
{quote} Well the deal is that this forum has all types of traders! I am a Price action day trader using mainly the 15 min charts and go to the 1 minute charts when I see that the High of day or low of day are locked in. I call that the peak formation high or low. Anyway if somebody is trading on a larger time frame they can not see the smaller patterns so I can not help them understand my method, or my knowledge of the market! My mentor is Stacey Burke he has a you tube channel and I have studied him for over 2 years and that is when I became profitable....
Thank You Bill.

Great stuff and very knowledgeable of set up.
Have a great trade and green pips to you.

Pat CHIKO
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #695,057
  • Oct 12, 2022 3:04am Oct 12, 2022 3:04am
Quoting billytt
{quote} forget the trend. if you have a plan, you trade it. Question? if everyone traded with the trend, we would have no losers?. Tell me why this is wrong? <<<< anyone tell me. I am trying to make a point, i am not being smart.
You are correct billytt......if we all won all our trades all of the time, the market would not exist! Trading with the trend is a good idea for my style, but even when doing that I can get caught out by a spike. I had a good setup here, but I got caught by a spike. It is all part of the game....sometimes the market is very smart and Indiara is silly!
I am neither brave nor stupid...I am just a part time trader
  • #695,058
  • Oct 12, 2022 3:05am Oct 12, 2022 3:05am
Forgot how entertaining interactive trading threads can be :-)
  • #695,059
  • Oct 12, 2022 3:05am Oct 12, 2022 3:05am
waiting for the break
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yes yes yes
  • #695,060
  • Oct 12, 2022 3:10am Oct 12, 2022 3:10am
Quoting tenkanzen
{quote} {image}
what was the cost of the last intervention ? where does that money come from ?
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Olu