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Cable Update (GBPUSD)

  • #696,461
  • Oct 14, 2022 7:43am Oct 14, 2022 7:43am
News slightly positive for risk (but revisions negative).

I don't know, I can't see a good trade today, maybe I just should rest. My bias is very bearish on GBP and stocks, but GBP can be lifted by the Truss press conference (you never know how the market reacts and what exactly is priced in), and stocks can rally similar to tomorrow -- bear market rallies are known for their strength. Maybe I will sell the fact if GBP reacts very positively to Truss announcement.
  • #696,462
  • Oct 14, 2022 7:43am Oct 14, 2022 7:43am
price is likely to go up to 1.12500
Attached Image (click to enlarge)
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yes yes yes
  • #696,463
  • Oct 14, 2022 7:44am Oct 14, 2022 7:44am
Quoting Elysion
{quote} Blue Black looks more neutral if you're trying to get rid of the false info from colored candlesticks.
Elysion, how do you recognize the change in momentum on short TF?
Attached Image (click to enlarge)
Click to Enlarge Name: GU 10.14 15M.png Size: 48 KB
Always trade your own plan...I don't provide trading signals.
  • #696,464
  • Oct 14, 2022 7:45am Oct 14, 2022 7:45am
Quoting navk
{quote} Today is friday it seems. I missed to remember completely.
The week flies by quickly when you are trading, huh?
  • #696,465
  • Oct 14, 2022 7:45am Oct 14, 2022 7:45am
Quoting donfriday
{quote} you have become an inspiration to us bro..keep it up
Thank you Don, if not for you guys I wouldn't have believed any of this is possible..
I'm glad I joined Forex factory..

Thank you everyone; We shall all succeed together
My telegram: https://t.me/avidforex
  • #696,466
  • Oct 14, 2022 7:45am Oct 14, 2022 7:45am
Hmm soo... a positive and a negative = neutral?
Exhausted
  • #696,467
  • Oct 14, 2022 7:46am Oct 14, 2022 7:46am
Rarely the market clearing two liquidity zones in one day against the momentum.

But main liquidity is above 1.16 and this where the market heading to.. could be above 1.2 but I’m going to the closer zone.
  • #696,468
  • Oct 14, 2022 7:48am Oct 14, 2022 7:48am
Quoting Whale
Rarely the market clearing two liquidity zones in one day against the momentum. But main liquidity is above 1.16 and this where the market heading to.. could be above 1.2 but I’m going to the closer zone.
How do you know where liquidity is?
  • #696,469
  • Oct 14, 2022 7:50am Oct 14, 2022 7:50am
Quoting Coreg2004
{quote} Elysion, how do you recognize the change in momentum on short TF? {image}
Wait, I don't get your question. Isit regarding the color scheme for candlesticks? To me as long as you remember which is up and down.

It's a psychological factor for some people when the candles are red (close to red) and green (or close to green) for up and down.

Imo, I find it easier to cope when I change the color. But i do remember which is which. Just less pressure to my mind and clearer picture to determine patterns for me.
Exhausted
  • #696,470
  • Oct 14, 2022 7:50am Oct 14, 2022 7:50am
Last trade of the week for me. My bed is calling!

Attached Image (click to enlarge)
Click to Enlarge Name: gu.jpg Size: 110 KB
I am neither brave nor stupid...I am just a part time trader
  • #696,471
  • Oct 14, 2022 7:51am Oct 14, 2022 7:51am
Quoting VM.
{quote} How do you know where liquidity is?
I don’t.. retailers know nothing, they assume.
  • #696,472
  • Oct 14, 2022 7:51am Oct 14, 2022 7:51am
Quoting VM.
{quote} How do you know where liquidity is?
Learn my friend.

If we don't know where is liquidity, we will become liquidity
With courage, patience, and discipline, success is a matter of time.
  • #696,473
  • Oct 14, 2022 7:51am Oct 14, 2022 7:51am
I'll be back in roughly an hour.
Happy Friday peeps.

Trade safe.
Exhausted
  • #696,474
  • Oct 14, 2022 7:53am Oct 14, 2022 7:53am
Bye Guys.
We are going out for Lunch to some Restaurant.
See you tomorrow to chat.
Lol
Intraday only.
  • #696,475
  • Oct 14, 2022 7:53am Oct 14, 2022 7:53am
Gut feeling the data lows have been seen. If we see a reversal of tax cuts the markets should see us higher towards 114
Insane in the Brain..
  • #696,476
  • Oct 14, 2022 7:53am Oct 14, 2022 7:53am
Quoting JameRomeo168
{quote} Learn my friend. If we don't know where is liquidity, we will become liquidity
We will become liquidity one way or the other, the only question is whether we will profit.
  • #696,477
  • Oct 14, 2022 7:54am Oct 14, 2022 7:54am
I'm buying GU again, will post chart a bit later when back home. It seems bankers pushed price down as much as they could today. Anyway, will see SL or TP
  • #696,478
  • Oct 14, 2022 7:54am Oct 14, 2022 7:54am
Quoting bilal1947
Last entry of the week, happy weekend everyone {image} Good luck and good trading. Regards bilal
Closing it here +56 pips
Attached Image (click to enlarge)
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"Exchange of hands"
  • #696,479
  • Oct 14, 2022 7:54am Oct 14, 2022 7:54am
Quoting Elysion
{quote} Wait, I don't get your question. Isit regarding the color scheme for candlesticks? To me as long as you remember which is up and down. It's a psychological factor for some people when the candles are red (close to red) and green (or close to green) for up and down. Imo, I find it easier to cope when I change the color. But i do remember which is which. Just less pressure to my mind and clearer picture to determine patterns for me.
Elysion, if you have "color blind" candles it's hard to notice (at least for me, I've tried before) the change in momentum. I keep red/green b/c it screams to me that momentum is changing.
Always trade your own plan...I don't provide trading signals.
  • #696,480
  • Oct 14, 2022 7:55am Oct 14, 2022 7:55am
Quoting BeeTogether
Gut feeling the data lows have been seen. If we see a reversal of tax cuts the markets should see us higher towards 114
Knowing that I'll be seeing less of the money I earn always makes me feel more productive.
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