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Cable Update (GBPUSD)

  • #702,721
  • Nov 2, 2022 8:22am Nov 2, 2022 8:22am
Quoting thevisitor
I may be wrong but 1.1380 is more likely than 1.1550 Still in short 1.1498
thevisitor, what if we treat YL as an irregular b wave? just the thought.
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Always trade your own plan...I don't provide trading signals.
  • #702,722
  • Nov 2, 2022 8:23am Nov 2, 2022 8:23am
IG the hike already priced in, we might see some TP on data release which bullish for cable.
If the press conference sounds a little dovish as many are expecting that its time for Fed to pivot to 50bps since many FED voting directors been targeting neutral rate to 4-4.5% EOY 2022 six months ago, we might see such scenario tonight.
Anyway, we will see what the FED is up to!
More time in the market, does not mean you trade better!
  • #702,723
  • Nov 2, 2022 8:26am Nov 2, 2022 8:26am
Quoting Fardeen1209
IG the hike already priced in, we might see some TP on data release which bullish for cable. If the press conference sounds a little dovish as many are expecting that its time for Fed to pivot to 50bps since many FED voting directors been targeting neutral rate to 4-4.5% EOY 2022 six months ago, we might see such scenario tonight. Anyway, we will see what the FED is up to!
retail is losing interest in shorting cable
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  • #702,724
  • Nov 2, 2022 8:27am Nov 2, 2022 8:27am
Quoting maxi444
{quote} https://en.wikipedia.org/wiki/Fractal interesting, fractal seems to be an "order in disorder"
But not necessarily with disorder. Check the Serpinski triangle. Totally orderly.
To free Gazans of Hamas, use whatever it takes.
  • #702,725
  • Nov 2, 2022 8:29am Nov 2, 2022 8:29am
Quoting PatienceFx
{quote} retail is losing interest in shorting cable {image}
I think it is the MM that are not interesting in shorting the cable. It is their money which forms the structure. They always get what they want!
More time in the market, does not mean you trade better!
  • #702,726
  • Nov 2, 2022 8:31am Nov 2, 2022 8:31am
I think the reason why today market is ranging is because many people fearing of FOMC news and won't trade until news release. This make market doesn't have enough liquidity for Institutional traders to participate. In order to get enough liquidity, central bank manipulate the markets to create fake supply and demand in order to induce retail traders into the market before the news release. Same old trick that has been used since before Liz Untrust was born.
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With courage, patience, and discipline, success is a matter of time.
  • #702,727
  • Nov 2, 2022 8:33am Nov 2, 2022 8:33am
Quoting Fardeen1209
{quote} I think it is the MM that are not interesting in shorting the cable. It is their money which forms the structure. They always get what they want!
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  • #702,728
  • Nov 2, 2022 8:33am Nov 2, 2022 8:33am
Quoting Moty
{quote} finally {image} {image}
I think without rocket, it will not fly
Edited: Decided play UJ, double bottom, let's see, will close manually
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  • #702,729
  • Nov 2, 2022 8:36am Nov 2, 2022 8:36am
_____________ $$$$$$$
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Don’t focus on making $$$, focus on protecting what you have.
  • #702,730
  • Nov 2, 2022 8:38am Nov 2, 2022 8:38am
wow what a day. so happy to be busy and not watch this ugly chart.
  • #702,731
  • Nov 2, 2022 8:40am Nov 2, 2022 8:40am
Quoting profits7
_____________ $$$$$$$ {image}
The detail is that it is probably a non-event. The CME fed watch forecast tool has over 88% predicting a 75 basis point increase, down from 90% with only dreamers thinking there is a chance of 50 bp!
  • #702,732
  • Nov 2, 2022 8:43am Nov 2, 2022 8:43am
Quoting DmShka
{quote} I think without rocket, it will not fly Edited: Decided play UJ, double bottom, let's see, will close manually {image}
Cover with tight sl, some tp, hope for double bottom,

GL everyone, I think next bus stop FOMC, I will not trading more till FOMC
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  • #702,733
  • Nov 2, 2022 8:51am Nov 2, 2022 8:51am
Quoting navk
{quote} correct. I expect the range to break after news event only. Those who have positions must have stops... at high lows of today. I am OFF since LO.
Wise..
You won't miss anything..

Price is definitely not gonna go crazy before BoE anyway..
See you at LO!

Won't post any charts until tommorow, because it's useless at the moment..

I find it funny that people think there will be any play before Fed and especially with BoE combined this week..
How many times more do we have to witness range before the Fed for people to understand?..

Easy fellas.. You'll have more than enough pips after BoE and Non-Farm..

Understanding when to trade is as important as anything else, this goes into money managament..

Range is where people lose money and yet some trade even when they know range is in play.
More self-control people, more self-control.. See you tommorow and GL to stubborn people that keep trading today.
If you do trade today however, don't go for more than 15 pips per trade, not gonna happen..
  • #702,734
  • Nov 2, 2022 8:53am Nov 2, 2022 8:53am
Hello Everyone! ... Let's see what will happen during this next hour...
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My Future is so Bright I gotta wear Shades! https://www.youtube.com/watch?v
  • #702,735
  • Nov 2, 2022 8:59am Nov 2, 2022 8:59am
Quoting stjoeforex
Hello Everyone! ... Let's see what will happen during this next hour... {image}
Nothing!
Hello!

I have something similar, considering the chart.. will post later..
  • #702,736
  • Nov 2, 2022 9:00am Nov 2, 2022 9:00am
Quoting TheWolf
{quote} Wise.. You won't miss anything.. Price is definitely not gonna go crazy before BoE anyway.. See you at LO! Won't post any charts until tommorow, because it's useless at the moment.. I find it funny that people think there will be any play before Fed and especially with BoE combined this week.. How many times more do we have to witness range before the Fed for people to understand?.. Easy fellas.. You'll have more than enough pips after BoE and Non-Farm.. Understanding when to trade is as important as anything else, this goes into money managament.....
we have seen after FED, the price spikes for BOE to pull it down.

Either way, it can happen this time too.
Intraday only.
  • #702,737
  • Nov 2, 2022 9:02am Nov 2, 2022 9:02am
those who want to scalp....small !

may be 1480 to hold to push higher

Stop must be just 10 pips. Today lows.

Risk is yours, not mine, i am not trading until FED decision.
Intraday only.
  • #702,738
  • Nov 2, 2022 9:03am Nov 2, 2022 9:03am
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  • #702,739
  • Nov 2, 2022 9:04am Nov 2, 2022 9:04am
Quoting TheWolf
{quote} Nothing! Hello! I have something similar, considering the chart.. will post later..

47 range so far today.
cable has moved more than enough unless the retailer wants 2 million pips.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #702,740
  • Nov 2, 2022 9:04am Nov 2, 2022 9:04am
Quoting navk
{quote} we have seen after FED, the price spikes for BOE to pull it down. Either way, it can happen this time too.
I don't like seeing Fed nor trading Fed but you're right.

Have bad experience with Fed, it usually goes up, down, left and then right anyway..

We'll see.. it could very well be like that, because as said in the couple of posts before, Bailey to pull the rabbit out of the hat this time..

We are around 1.15 now.. unfortunately I don't have any clue where the price wants to go from here, somewhat in the crossroad..
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