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Cable Update (GBPUSD)

  • #700,801
  • Oct 26, 2022 3:14am Oct 26, 2022 3:14am
Quoting Pat Chiko
General Info The weakness of the dollar has allowed currency (EUR,AUD, GBP, BTC) to reach the top of its range and climb back above the strong level. But beware, this correction in the USD is probably only temporary. Next big decision to watch: FOMC in November, which could bring strength to the USD. Even AUS with high inflation rate reported, went higher AUD against USD. We are seeing, Fed hikes 75bps in line with markets. No hawkish dissenters going for 100bps. They acknowledge weakness in spending & production... labour market strength. It's...
Fed decision is due next week...

Make one think what is pushing the cable to push this high ahead of the rate hike.
"No trade is still a trade." - Peter Borish
  • #700,802
  • Oct 26, 2022 3:14am Oct 26, 2022 3:14am
1.1588 high so far
POSTMASTER
  • #700,803
  • Oct 26, 2022 3:14am Oct 26, 2022 3:14am
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BP 5' --- SL very tight now . . . .

  • #700,804
  • Oct 26, 2022 3:16am Oct 26, 2022 3:16am
Quoting Pat Chiko
General Info The weakness of the dollar has allowed currency (EUR,AUD, GBP, BTC) to reach the top of its range and climb back above the strong level. But beware, this correction in the USD is probably only temporary. Next big decision to watch: FOMC in November, which could bring strength to the USD. Even AUS with high inflation rate reported, went higher AUD against USD. We are seeing, Fed hikes 75bps in line with markets. No hawkish dissenters going for 100bps. They acknowledge weakness in spending & production... labour market strength. It's...
You are mostly right Pat. I see this USD weakness has temporary to correct oversold conditions of instruments against it. Now dollar index will find support any moment from now and USD will get aggressive again.

As for Gu, it has done 330 pips this week so far, most it does in recent weeks is 430 pips, I expect some 130 to 400 pips correction within this week and Tuesday next week. I may be wrong hence no obligation to follow.
Data + Stat + Risk/Emotions Management
  • #700,805
  • Oct 26, 2022 3:16am Oct 26, 2022 3:16am
stopped out for a nice trade
  • #700,806
  • Oct 26, 2022 3:18am Oct 26, 2022 3:18am
Quoting Robinhood1
{quote} First Possible closing target around 1.0850
for my profile. swing trading
POSTMASTER
  • #700,807
  • Oct 26, 2022 3:18am Oct 26, 2022 3:18am
Quoting PatienceFx
{quote} {image}
What goes against you...comes back eventually.

This is not " say " , it is rule.

The market too goes up... but eventually comes back.

Intraday only.
  • #700,808
  • Oct 26, 2022 3:22am Oct 26, 2022 3:22am
Quoting Waveskierrob
Looks like a "Karen" is clicking the thumbs down button on every post on my thread, someone told me once that "the best revenge is massive success" looks like I succeeded, I think most people know who he is, just putting it out there, these are the folks we are communicating with on this thread ....
Rob,
What on earth are you talking about? Why are you so paranoid?. I have never disliked a post on FF. How does the dislike button work? Show me so I can start playing silly games. To be honest I do not have time for stupid games. If someone is disliking your posts then you must have done something to offend them? Yes.
Why are you reading my posts, if you ignored me? You are talking about disliking your posts in your thread and to be honest I have not once visited your thread and I have no desire to be there or hedging the way you do. Take advice from your fellow traders and concentrate on your trading rather.
Since you are reading my posts. Here's a special treat for you with my success
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Trade to trade another day
  • #700,809
  • Oct 26, 2022 3:22am Oct 26, 2022 3:22am
Quoting dantpm
{quote} What is suggesting the 1.16 limit at this time?
Simply distance covered from Monday to Wednesday, also dollar index at support... Even if it wants to go up more, it will need to gather fresh liquidity for more up.
Data + Stat + Risk/Emotions Management
  • #700,810
  • Oct 26, 2022 3:23am Oct 26, 2022 3:23am
potential looking for 1.1750
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Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #700,811
  • Oct 26, 2022 3:23am Oct 26, 2022 3:23am
If the DXY Break the 110 resistance, there is a chance that the GU keep with the bullish movement.
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  • #700,812
  • Oct 26, 2022 3:29am Oct 26, 2022 3:29am
Quoting Derk
If the DXY Break the 110 resistance, there is a chance that the GU keep with the bullish movement.{image}

Kind of an inverted cup and handle, which would suggest more upside?
  • #700,813
  • Oct 26, 2022 3:37am Oct 26, 2022 3:37am
Currently GU still looks bullish in 5mins chart, but be careful it is close to DXY resistance.
  • #700,814
  • Oct 26, 2022 3:44am Oct 26, 2022 3:44am
H4 Candle just about to close. Another H4 should give a wick down before up continuation as always..
  • #700,815
  • Oct 26, 2022 3:45am Oct 26, 2022 3:45am
Quoting Wavegarrick
{quote} Rob, What on earth are you talking about? Why are you so paranoid?. I have never disliked a post on FF. How does the dislike button work? Show me so I can start playing silly games. To be honest I do not have time for stupid games. If someone is disliking your posts then you must have done something to offend them? Yes. Why are you reading my posts, if you ignored me? You are talking about disliking your posts in your thread and to be honest I have not once visited your thread and I have no desire to be there or hedging the way you do. Take...
And since you are so paranoid. I just did a little exercise for you. I will dispel your conspiracy theory. You cannot press the dislike and like button at the same time.
Please just lay off me. Just stop it. I don't have time for games.
Have a great day.
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Trade to trade another day
  • #700,816
  • Oct 26, 2022 3:46am Oct 26, 2022 3:46am
Cable close to hitting the 38.2 fibo on a YTD basis...
"No trade is still a trade." - Peter Borish
  • #700,817
  • Oct 26, 2022 3:49am Oct 26, 2022 3:49am
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Take note
  • #700,818
  • Oct 26, 2022 3:54am Oct 26, 2022 3:54am
Quoting elbert3
{image}Take note
Bullish Momentum is fading
More time in the market, does not mean you trade better!
  • #700,819
  • Oct 26, 2022 3:55am Oct 26, 2022 3:55am
Looks like one of the "Karen's has unclicked the thumbs down on my thread, wonder why ....
  • #700,820
  • Oct 26, 2022 3:55am Oct 26, 2022 3:55am
Now that market has settled down for a while, I want to say thank you to those who have helped me to get my silly head in the right place over the past few weeks. You know I won't mention names, but you know who you are.

I am trying to book (I like that word!) +25 per day to have a chance to make my account really big in a year from now. I have a nice job and don't wish to stop working at it. But if I can get +25 average per day, I will have a nice nest egg. Some days I can make more, some days less, but average is important. To make a zillion pips in one day would be magic, but is not necessary in the big picture. If this works, I can help a lot of people in need and to help the animals too. This would be good for my soul.

So thank you for helping me, thank you to the market, and thank you to the universe.

I will keep watching the charts today, but I am also writing some music (or trying to) so I feel very lucky
I am neither brave nor stupid...I am just a part time trader
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