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Cable Update (GBPUSD)

  • #703,221
  • Nov 3, 2022 4:56am Nov 3, 2022 4:56am
Quoting TheWolf
The only reason price is at this level is because BoE intervened. Real price is much lower..
heck this h4 chart, how AC is converging
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH4.png Size: 14 KB
  • #703,222
  • Nov 3, 2022 4:57am Nov 3, 2022 4:57am
1.1220 to go up maybe
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #703,223
  • Nov 3, 2022 4:57am Nov 3, 2022 4:57am
Quoting BigNumbers
{quote} Retracement failed... Check the 5 mins.. Price going down again
I think it retraced in 5min tf, volume of buyers not enough maybe? Or waiting for announcement later
1hr about to close as well. Back to free fall it is
Attached Image(s) (click to enlarge)
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No pen no gen
  • #703,224
  • Nov 3, 2022 5:00am Nov 3, 2022 5:00am
Quoting BigNumbers
{quote} Retracement failed... Check the 5 mins.. Price going down again
it can still turn
Attached Image (click to enlarge)
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yes yes yes
  • #703,225
  • Nov 3, 2022 5:01am Nov 3, 2022 5:01am
...Anyone holding a position (s) going into Boe/Mpc stuff ?

I think b is the most likely scenario, even d and/or e as well.

a. +0.75 and no signal of slowing down rate rises - potential £ strength?
b. +0.75% but Bank signals it's a 'one-off' and will return to more ' normal ' +0.5 or even more normal ++0.25% in future rises. Market reaction - ?
c. +0.5% - potentially market disappointed - £ weakness?
d. +0.75% but Bank signals that it will keep a 'special' eye on other things that might be tipping us into recession as well - Market reaction - ?
e. +0.75% but vote is split - Market reaction - ?
f. +0.5% but vote is split - Market reaction - probable £ weakness?

Anything can happen, trade what you see.
Trader with an Edge.
  • #703,226
  • Nov 3, 2022 5:01am Nov 3, 2022 5:01am
Quoting BigNumbers
A new H4 candle opens in 5 mins.. stay glue to your chart...
New H4 already formed 1h ago. I think the same with most people

What broker are you using?
With courage, patience, and discipline, success is a matter of time.
  • #703,227
  • Nov 3, 2022 5:02am Nov 3, 2022 5:02am
Quoting BigNumbers
A new H4 candle opens in 5 mins.. stay glue to your chart...
....... ?

nothing happened. i wasted 5 min for nothing.
  • #703,228
  • Nov 3, 2022 5:02am Nov 3, 2022 5:02am
If m1 can turn up before BOE, spike higher we'll see
COT: The precious data ignored
  • #703,229
  • Nov 3, 2022 5:02am Nov 3, 2022 5:02am
Quoting OragonFx
{quote} I also trade gold and for the next support for that bad boy is 1570. How can dollar be so strong when it keeps printing money? Where the value at?
My view is the market react more to interest rate than Quantitative Easing (print money) or Quantitative Tightening.
The interest rate is the main character in the financial market especially for USD.
As we are experiencing today, USD hike yesterday and expected to keep the same pace of rate increase for the next meeting is more powerful than BOE hike today. Why? Rate differentials. At the end on the rate cycle, the difference between BOE rate and FED rate will have a wide gap, since no way BOE can hike same as FED as UK economy can barely take another 75bps hike. But the US economy can hold the rate hike. The FED objective is to achieve price stability so as they dont lose the reserve currency status. They are so determined to achieve this objective even if it hurts the US economy, they don't care
More time in the market, does not mean you trade better!
  • #703,230
  • Nov 3, 2022 5:02am Nov 3, 2022 5:02am
Quoting Headland
...Anyone holding a position (s) going into Boe/Mpc stuff ? I think b is the most likely scenario, even d and/or e as well. a. +0.75 and no signal of slowing down rate rises - potential £ strength? b. +0.75% but Bank signals it's a 'one-off' and will return to more ' normal ' +0.5 or even more normal ++0.25% in future rises. Market reaction - ? c. +0.5% - potentially market disappointed - £ weakness? d. +0.75% but Bank signals that it will keep a 'special' eye on other things that might be tipping us into recession as well - Market reaction - ?...
I vote for e.
  • #703,231
  • Nov 3, 2022 5:03am Nov 3, 2022 5:03am
What a disappointment for the bulls... I can't believe price is going down to hurt September LOW... HUGE amount of money sitting in there..
My telegram: https://t.me/avidforex
  • #703,232
  • Nov 3, 2022 5:04am Nov 3, 2022 5:04am
I really wish Saudi would come out and say "We're no longer taking dollars for our oil anymore" about now
  • #703,233
  • Nov 3, 2022 5:04am Nov 3, 2022 5:04am
Hopefully 1.1240 hold
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #703,234
  • Nov 3, 2022 5:05am Nov 3, 2022 5:05am
Quoting Fardeen1209
{quote} My view is the market react more to interest rate than Quantitative Easing (print money) or Quantitative Tightening. The interest rate is the main character in the financial market especially for USD. As we are experiencing today, USD hike yesterday and expected to keep the same pace of rate increase for the next meeting is more powerful than BOE hike today. Why? Rate differentials. At the end on the rate cycle, the difference between BOE rate and FED rate will have a wide gap, since no way BOE can hike same as FED as UK economy can barely...
It's not that they don't care - they make the calculation [rightly or wrongly, only time will tell] that not achieving it will hurt the U.s economy more in the long-term.
Trader with an Edge.
  • #703,235
  • Nov 3, 2022 5:05am Nov 3, 2022 5:05am
https://www.forexfactory.com/thread/...1#post14202711
Now that's called Perfection.... It banged it's head at it last night n came down tumbling after
See my post.

Trade Safe
  • #703,236
  • Nov 3, 2022 5:05am Nov 3, 2022 5:05am
Quoting BigNumbers
What a disappointment for the bulls... I can't believe price is going down to hurt September LOW... HUGE amount of money sitting in there..
I would expect a lot of SLs would have been moved up by now. A lot will already have been taken.
  • #703,237
  • Nov 3, 2022 5:06am Nov 3, 2022 5:06am
Quoting TheWolf
{quote} Hahahah.. well done, well done! I'm not sharing anything anymore, you people earned enough.. LoL But, seriously. I had nothing to do with it, it's what you came up with that gave you pips.
example

see trade entry suggestion n result
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1.png Size: 14 KB
  • #703,238
  • Nov 3, 2022 5:10am Nov 3, 2022 5:10am
Quoting MrFanciful
{quote} I would expect a lot of SLs would have been moved up by now. A lot will already have been taken.
I'm guessing that institutional stops are under one of the 4 numbers coming up from 0327 on chart below - for long positions, but more probably under the first, third and 4th, from the 0327 bottom up, ie 1060, 0922, and 0327.

38.2% of the total 0327-1645 move up is @ 1140.

Dly below
Attached Image (click to enlarge)
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Trader with an Edge.
  • #703,239
  • Nov 3, 2022 5:12am Nov 3, 2022 5:12am
If I see Daily candle closing below 1.125 I won't think much before shorting at all..
  • #703,240
  • Nov 3, 2022 5:13am Nov 3, 2022 5:13am
Quoting Moty
nice strategy {image}
Done
RedcaT 3003
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