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Cable Update (GBPUSD)

  • #703,261
  • Nov 3, 2022 5:56am Nov 3, 2022 5:56am
The pounds fall over the last 3 days has almost wiped out the entire gain for the whole of October.
  • #703,262
  • Nov 3, 2022 5:57am Nov 3, 2022 5:57am
Wont be a wonder if the price goes back to 1.134 to 1.140 when red news came out...
Waiting for correction and sell level from 1.140-1.150...
"bad trades at times do happen even when the set up are good"
  • #703,263
  • Nov 3, 2022 5:58am Nov 3, 2022 5:58am
Quoting Headland
...can you imagine the probable downside move if it's 'only' +0.5% !? Lol.
They probably will go with 0.75. 100bps is too much, but with 50bps they will risk to be seen as laggards among central banks (better only than Japan). The market was pricing a fair change of 100bps a week ago, do you know if this is still valid?
  • #703,264
  • Nov 3, 2022 6:00am Nov 3, 2022 6:00am
...the 5min regular bullish div play @ that 1hr pot rbs is below;

5min below
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Trader with an Edge.
  • #703,265
  • Nov 3, 2022 6:00am Nov 3, 2022 6:00am
Quoting navk
Can I recover ? {image}
If there is anyone that can recover and overtake, it's you.
Data + Stat + Risk/Emotions Management
  • #703,266
  • Nov 3, 2022 6:01am Nov 3, 2022 6:01am
Quoting kuroro001
If m1 can turn up before BOE, spike higher we'll see
One hour left for it to turn up
But there are encouraging signs
COT: The precious data ignored
  • #703,267
  • Nov 3, 2022 6:02am Nov 3, 2022 6:02am
Quoting VM.
{quote} They probably will go with 0.75. 100bps is too much, but with 50bps they will risk to be seen as laggards among central banks (better only than Japan). The market was pricing a fair change of 100bps a week ago, do you know if this is still valid?
Sorry, I don't, I wasn't really following it. But I agree that +1% is unlikely, and with your assessment re +0.5% but that is more probable than +1% although +0.75% the most probable of all. Anything is possible though.
Trader with an Edge.
  • #703,268
  • Nov 3, 2022 6:02am Nov 3, 2022 6:02am
Quoting spijack
Wont be a wonder if the price goes back to 1.134 to 1.140 when red news came out... Waiting for correction and sell level from 1.140-1.150...
Attached Image (click to enlarge)
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"bad trades at times do happen even when the set up are good"
  • #703,269
  • Nov 3, 2022 6:03am Nov 3, 2022 6:03am
this is why i like this strategy
cut loss early and let profit run
1.12417 -1.12500 zone is holding
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yes yes yes
  • #703,270
  • Nov 3, 2022 6:06am Nov 3, 2022 6:06am
Quoting Headland
{quote} Sorry, I don't, I wasn't really following it. But I agree that +1% is unlikely, and with your assessment re +0.5% but that is more probable than +1% although +0.75% the most probable of all. Anything is possible though.
Split decision 0.5 / 0.75 is also possible, which will be seen as dovish.
  • #703,271
  • Nov 3, 2022 6:09am Nov 3, 2022 6:09am
Quoting VM.
{quote} Split decision 0.5 / 0.75 is also possible, which will be seen as dovish.
In which case Bailey has the casting/deciding vote, is he dovish or hawkish?
Trader with an Edge.
  • #703,272
  • Nov 3, 2022 6:10am Nov 3, 2022 6:10am
Today's possible scenarios

✓1.1226 may provoke a bounce to 1.1470
✓1.1176 may provoke a bounce to 1.1335

Whichever way, 1.1330 is dominant in this picture.
Data + Stat + Risk/Emotions Management
  • #703,273
  • Nov 3, 2022 6:11am Nov 3, 2022 6:11am
Quoting suhas316
{image}
Lets see
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!! Radha Radha !!
  • #703,274
  • Nov 3, 2022 6:11am Nov 3, 2022 6:11am
H1 support for retracement formed
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My telegram: https://t.me/avidforex
  • #703,275
  • Nov 3, 2022 6:12am Nov 3, 2022 6:12am
Quoting Headland
{quote} In which case Bailey has the casting/deciding vote, is he dovish or hawkish?
I didn't mean a draw, I think 2/7 or 3/6 is more likely.
Bailey is more of a hawk atm.
  • #703,276
  • Nov 3, 2022 6:22am Nov 3, 2022 6:22am
waiting for buy signal
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yes yes yes
  • #703,277
  • Nov 3, 2022 6:23am Nov 3, 2022 6:23am
Quoting VM.
I know a lot of people will try to catch the bottom... don't do that. Of course, you may be lucky to catch a retrace at the right time, but the odds are against you. Fed press conference today is the game changer, and what's worse, comes at a time when markets started to buy risk assets (and sell dollars) believing that we reached the bottom.
I wrote this yesterday evening, and it is still valid. (Expected) rate differential is the biggest FX mover by far, Fed is hawkish, BOE is sort of dovish, don't fight it.
  • #703,278
  • Nov 3, 2022 6:27am Nov 3, 2022 6:27am
Quoting Headland
...can you imagine the probable downside move if it's 'only' +0.5% !? Lol. -------------------------------- That prev 1hr sw hi zone at the current dlyu lo, = prev res = pot rbs. Regular bullish div plays 1mim, 3min, 5min, there. 1hr below {image}
Any chance you can share your "simple panel" indi?
or a link to get it?

thanks
COT: The precious data ignored
  • #703,279
  • Nov 3, 2022 6:28am Nov 3, 2022 6:28am
Quoting navk
Can I recover ? {image}
OK its time for me to admit being a dumb ass. Was up late last night (London) making some more money Had to wait into the early hours of the morning to make profit as was in red. Then with smile closed comp and slept. Set alarm for 0700 for checking out billytt system, but tiredness got better of me and dozed off straight away. Woke up 8:30, grabbed the comp to see the latest action, only to see that I had left long order active which was now in play -£650 I hedged straight away, luckily and am hoping that BOE only increases 0.5%. £ will then crassh even more and will hope to make up any shortfall on the bounce.
  • #703,280
  • Nov 3, 2022 6:31am Nov 3, 2022 6:31am
Retracement failed again

Price will stat going down again
Attached Image (click to enlarge)
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