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Cable Update (GBPUSD)

  • #700,821
  • Oct 26, 2022 2:06am Oct 26, 2022 2:06am
Quoting Lbrto
{quote} Fed decision is due next week... Make one think what is pushing the cable to push this high ahead of the rate hike.
Part of your Q, already answered in my previous post.

Further, dollah falling sharply due to weak housing data.
Please take a note on short term support on DXY (usd index) around 110$ but chances of a dip till 109.5$

It will take 6 months to see how these 4% rates ripple through the economy.
No doubt the Fed has slowed the economy.
Inflation growth has basically stopped but we DONT need a recession either.
Real estate is a big concern.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #700,822
  • Oct 26, 2022 2:08am Oct 26, 2022 2:08am
Price has reached enormous resistance now. This is Weekly Chart! Price crossing over this R means reversal is in play, so 1.20 by Don shouldn't be any problem at all..
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD Weekly Chart.png Size: 24 KB
  • #700,823
  • Oct 26, 2022 2:09am Oct 26, 2022 2:09am
Closed UJ nice profits. I expect it to retrace up a bit
POSTMASTER
  • #700,824
  • Oct 26, 2022 2:10am Oct 26, 2022 2:10am
Quoting Pat Chiko
{quote} Part of your Q, already answered in my previous post. Further, dollah falling sharply due to weak housing data. Please take a note on short term support on DXY (usd index) around 110$ but chances of a dip till 109.5$ It will take 6 months to see how these 4% rates ripple through the economy. No doubt the Fed has slowed the economy. Inflation growth has basically stopped but we DONT need a recession either. Real estate is a big concern.
In 6 months, the wage increases that happened as a result of Covid19 and increasing the money supply will be 'baked into the system'. Therefore it isn't higher rates that capped inflation, it is simply time and nothing causing more inflation. Smoke, mirrors and BS!
  • #700,825
  • Oct 26, 2022 2:12am Oct 26, 2022 2:12am
Au will probably retrace to 0.6300 as GU goes down too so closed those too. I had to figure out which levels could be srtonger according to which instrument. Lets hope i got it right.
POSTMASTER
  • #700,826
  • Oct 26, 2022 2:14am Oct 26, 2022 2:14am
Quoting BigNumbers
We are hoping for price to breakout on Gold... But I like dealing before the breakout As soon as there is a confluence I'll post the signal later on. Confluence is when two or three parameters agree as one in a given direction... If you're trading it now, you are on your own.. But look for buy opportunities.. Good Luck {image}

Now I'm beginning to feel different about myself... So much to achieve
Its paying off..
How are you doing today ?
Did you Buy Gold ? I woke to see that the move has occurred but it no big deal. the market will always move.

I love y'all..
My telegram: https://t.me/avidforex
  • #700,827
  • Oct 26, 2022 2:15am Oct 26, 2022 2:15am
I beleive GU will lead for the next movement and its short
POSTMASTER
  • #700,828
  • Oct 26, 2022 2:15am Oct 26, 2022 2:15am
What weak housing data are you referring to if you don't mind me asking?

Quoting Pat Chiko
{quote} Part of your Q, already answered in my previous post. Further, dollah falling sharply due to weak housing data. Please take a note on short term support on DXY (usd index) around 110$ but chances of a dip till 109.5$ It will take 6 months to see how these 4% rates ripple through the economy. No doubt the Fed has slowed the economy. Inflation growth has basically stopped but we DONT need a recession either. Real estate is a big concern.
  • #700,829
  • Oct 26, 2022 2:17am Oct 26, 2022 2:17am
Quoting Robinhood1
BTC, see the slope. This is whats coming now from other instruments so just in case you are on the wrong side have ready your SL and i never place SL. I may be wrong {image}
I was not very wrong and there is more to come after the next move. Lets see
POSTMASTER
  • #700,830
  • Oct 26, 2022 2:18am Oct 26, 2022 2:18am
Someone sent me these

"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"

and then this after the dislikes went from 2 to 1

https://www.forexfactory.com/attachm...l?d=1666773983

....strange....
  • #700,831
  • Oct 26, 2022 2:19am Oct 26, 2022 2:19am
Quoting TheWolf
Price has reached enormous resistance now. This is Weekly Chart! Price crossing over this R means reversal is in play, so 1.20 by Don shouldn't be any problem at all.. {image}
I have a question please Mr Wolf. In your chart (below) I have marked the S/R area that you mention (is that right?) "1" and "2". In the time where I marked "1", it looks like the price was in and around that area for 2 weeks at the most, probably less. In the area of "2" the price was there for another 2 or maybe 3 weeks at the most, maybe less. Assuming that no news items blast through this area, is this a possible area and time for consolidation do you think? I won't hold you to it (hahaha) but I am interested to see if this might be a way to identify possible consolidation, and to trade accordingly.

If my question is silly, that's ok, I have been known to say some silly things!

Attached Image (click to enlarge)
Click to Enlarge Name: gu.jpg Size: 330 KB
I am neither brave nor stupid...I am just a part time trader
  • #700,832
  • Oct 26, 2022 2:22am Oct 26, 2022 2:22am
Quoting Georginson
{quote} 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.
Thanks for your comment Georgi,

The pound has appreciated +12% since "world ended" 2 weeks ago..
Back to the UK is now sitting down ( things starting to calm down a bit with Sunak as new PM).
In previous episode, Liz feat Kwarteng doesn't sit calmly to handle the market. ( They have to go)

All eyes will be on The Fed is barreling towards a fourth straight 75-basis-point rate rise at the November FOMC meeting.
That meeting could serve as a critical staging ground for future plans, including whether and how to step down to 50 basis points in December.
No one has a clue what happens if this unchains. Maybe Jerome knows?

BTW, don't worry of getting it wrong, I do it on regular basis, now it's a norm and I'm immune to it.
We try our best to analyse what we see, beyond that is either "magic" or "manipulation", we have to acceprt it.

Take care Georgi, and trade well.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #700,833
  • Oct 26, 2022 2:26am Oct 26, 2022 2:26am
Attached Image (click to enlarge)
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we were careful now see if the rule applies already into shorts
  • #700,834
  • Oct 26, 2022 2:27am Oct 26, 2022 2:27am
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...
I do not have time for stupid games.

And yet, you found time to write a post about not having time for stupid games.
To free Gazans of Hamas, use whatever it takes.
  • #700,835
  • Oct 26, 2022 2:30am Oct 26, 2022 2:30am
I think it's time for a reversal or retracement
Attached Image (click to enlarge)
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  • #700,836
  • Oct 26, 2022 2:30am Oct 26, 2022 2:30am
Quoting Indiara
{quote} I have a question please Mr Wolf. In your chart (below) I have marked the S/R area that you mention (is that right?) "1" and "2". In the time where I marked "1", it looks like the price was in and around that area for 2 weeks at the most, probably less. In the area of "2" the price was there for another 2 or maybe 3 weeks at the most, maybe less. Assuming that no news items blast through this area, is this a possible area and time for consolidation do you think? I won't hold you to it (hahaha) but I am interested to see if this might be...
beautiful indicator. link please
  • #700,837
  • Oct 26, 2022 2:31am Oct 26, 2022 2:31am
Quoting Robinhood1
Au will probably retrace to 0.6300 as GU goes down too so closed those too. I had to figure out which levels could be srtonger according to which instrument. Lets hope i got it right.
Lets hope i got it right.

Uh-oh! Gone into Hope&Pray mode!
To free Gazans of Hamas, use whatever it takes.
  • #700,838
  • Oct 26, 2022 2:32am Oct 26, 2022 2:32am
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 61 KB

BP 5' --- I am cashing my longs here NOW . . .

  • #700,839
  • Oct 26, 2022 2:34am Oct 26, 2022 2:34am
Missed the Gold move..

Now I am waiting for a pullback to 1666.86 to go LONG..
Already set a buy limit but my eyes are on the pair..
Some broker can misinterpret candle stick which can also impair your Trading system.. Make sure you see to all of this..
Attached Image (click to enlarge)
Click to Enlarge Name: 16666.86.png Size: 24 KB
My telegram: https://t.me/avidforex
  • #700,840
  • Oct 26, 2022 2:34am Oct 26, 2022 2:34am
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...

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 ....
He didnt mention your name tho!
Then why you think Rob pointing at you?
More time in the market, does not mean you trade better!
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