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Cable Update (GBPUSD)

  • #703,601
  • Nov 3, 2022 9:13pm Nov 3, 2022 9:13pm
Quoting Georginson
Second buy manually entered... At 1.1316 all target now 1.1374.
Manually closed at 1.1195... - 121 pips.. I will recover it later.

I'm considering waiting to buy from 1.1108 today as price may easily touch that area if 1.1229 stays intact.
Data + Stat + Risk/Emotions Management
  • #703,602
  • Nov 3, 2022 9:28pm Nov 3, 2022 9:28pm
GU looks to be trying to set up a Buying opportunity, but is too soon for me to consider this. I will be like Kuroda San and watch very closely!!
I am neither brave nor stupid...I am just a part time trader
  • #703,603
  • Nov 3, 2022 9:35pm Nov 3, 2022 9:35pm
Quoting Georginson
{quote} Manually closed at 1.1195... - 121 pips.. I will recover it later. I'm considering waiting to buy from 1.1108 today as price may easily touch that area if 1.1229 stays intact.
Regarding Fundamentals, I read this :

Forecasts suggest that the headline US NFP could ease to 200K in October from 263K prior while the US Unemployment Rate may increase to 3.6% from 3.5% prior. That said, the downbeat forecasts for the scheduled statistics signal a corrective bounce in case of a surprise. However, strong outcomes will allow bears to challenge the previous monthly low.
Intraday only.
  • #703,604
  • Nov 3, 2022 9:36pm Nov 3, 2022 9:36pm
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  • #703,605
  • Nov 3, 2022 9:42pm Nov 3, 2022 9:42pm
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POSTMASTER
  • #703,606
  • Nov 3, 2022 9:51pm Nov 3, 2022 9:51pm
Quoting Pat Chiko
{quote} GU Partial TP Open position to target at LO.{image} What Manipulator are thinking now........... Friday NFP day. Watch for Pump then dump then pump into NFP Then dump into next Tuesday elections then pump after Then go flat...
GU

Target adjusted.
Moved to positive stop.
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Jobs report later.
Labour market is strong everywhere and showing little signs of slowing.
250k payrolls will keep inflationary pressures in place.
If NFP is strong tomorrow, GBP is going to get annihilated.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #703,607
  • Nov 3, 2022 9:58pm Nov 3, 2022 9:58pm
Hi pat this scale of a thing u use to mark ur chart did it came with ur broker or is there any how I can have it need to be marking my chart with colors
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  • #703,608
  • Nov 3, 2022 10:04pm Nov 3, 2022 10:04pm
Quoting Pat Chiko
{quote} GU Target adjusted. Moved to positive stop.{image} Jobs report later. Labour market is strong everywhere and showing little signs of slowing. 250k payrolls will keep inflationary pressures in place. If NFP is strong tomorrow, GBP is going to get annihilated.
There must come a time when USA can no longer live with such a strong currency, in the face of every other currency. For many products that available from other nations and regions like China and Asia, it would not make sense to keep buying expensive USA products when a similar product is available from a country with competitive currency rate. Most currencies are weak against USD, but between each other, the rate of exchange is not so far out of order. USD is the odd man out, and one day it may suffer. My brain is not too good at this kind of analysis, and right now my brain is full of Covid, so maybe I talk rubbish!
I am neither brave nor stupid...I am just a part time trader
  • #703,609
  • Nov 3, 2022 10:16pm Nov 3, 2022 10:16pm
I have put in a Buy here, just for 30 pips, but 20 pips will be fine.

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I am neither brave nor stupid...I am just a part time trader
  • #703,610
  • Nov 3, 2022 10:46pm Nov 3, 2022 10:46pm
Inserted Video
POSTMASTER
  • #703,611
  • Nov 3, 2022 10:59pm Nov 3, 2022 10:59pm
Quoting Indiara
{quote} There must come a time when USA can no longer live with such a strong currency, in the face of every other currency. For many products that available from other nations and regions like China and Asia, it would not make sense to keep buying expensive USA products when a similar product is available from a country with competitive currency rate. Most currencies are weak against USD, but between each other, the rate of exchange is not so far out of order. USD is the odd man out, and one day it may suffer. My brain...

The issue is businesses and individuals will still prefer dollars unless highly motivated (read are forced at gunpoint) to choose a new currency.
The Euro smoothly replaced a more complex European currency system.
BRICS currency is a more complex replacement, with higher risk.
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If more than 80% of global debt obligations and global trade are in USD, then in what currency will global creditors insist to be paid?

As it now, USD is the denominator, it is also the most liquid market/currency.
In truth, most other currencies behave as derivatives of the dollar, the rest is semantics.
Things need to get worse before the fed pivots.
Maybe by then, Dollar hegemony is coming to an end.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #703,612
  • Nov 3, 2022 11:00pm Nov 3, 2022 11:00pm
Quoting TheWolf
{quote} I'll keep that in mind. It is strange, I feel something's not right.. China and Japan could retire USD for example if they wish so.. they have soooo much reserves in USD it's not even funny. That's why I'm waiting for these Elections. China is not on good terms with currect USA leaders..
The reason is China sold the same(American/European) products at half the cost incurred by the (American/European) manufacturers of the product(**quality is questionable).
They pay like $100M fine from copyrights breached but made $2bn profit from that particular product only!
Even the Chinese govt support this idea!
More time in the market, does not mean you trade better!
  • #703,613
  • Nov 3, 2022 11:03pm Nov 3, 2022 11:03pm
Quoting Indiara
{quote} There must come a time when USA can no longer live with such a strong currency, in the face of every other currency. For many products that available from other nations and regions like China and Asia, it would not make sense to keep buying expensive USA products when a similar product is available from a country with competitive currency rate. Most currencies are weak against USD, but between each other, the rate of exchange is not so far out of order. USD is the odd man out, and one day it may suffer. My brain is not too good at this kind...
It is a matter of accumulation. it is always better to have wealth in US dollars. You're not going to have it in zimbabwe currency. The dollar will be dethroned by confidence when that day comes, who knows when.

BTW, i am not qualified to advice about medical issues but it seems that n-acetyl cysteine counteracts covid spectacularly. Of course this is outside the medicinal circuits. It's not a bad idea to do some research. My 2 cents. Hope you get well soon
POSTMASTER
  • #703,614
  • Nov 3, 2022 11:07pm Nov 3, 2022 11:07pm
Quoting Pat Chiko
{quote} The issue is businesses and individuals will still prefer dollars unless highly motivated (read are forced at gunpoint) to choose a new currency. The Euro smoothly replaced a more complex European currency system. BRICS currency is a more complex replacement, with higher risk. {image} If more than 80% of global debt obligations and global trade are in USD, then in what currency will global creditors insist to be paid? As it now, USD is the denominator, it is also the most liquid market/currency. In truth, most other currencies behave as...

Thank you Pat, this is interesting. I was thinking like this: My local department store (which sells everything I need), is in a position to charge a lot for it's products, because it is the only 'one stop shop' in town. People will eventually be happy to suffer some inconvenience by shopping at a multitude of small shops for much less, because the small shops have less overheads, so can stock items at a lower price. Even the small shops start to trade with each other. Eventually, the big dept store feels this loss of income and so has to lower it's prices to become competitive once more.

Does that analogy make sense? I see things in a simple way like this, but that's why I don't get paid the big dollars... hahaha
I am neither brave nor stupid...I am just a part time trader
  • #703,615
  • Nov 3, 2022 11:08pm Nov 3, 2022 11:08pm
Quoting Robinhood1
{quote} It is a matter of accumulation. it is always better to have wealth in US dollars. You're not going to have it in zimbabwe currency. The dollar will be dethroned by confidence when that day comes, who knows when. BTW, i am not qualified to advice about medical issues but it seems that n-acetyl cysteine counteracts covid spectacularly. Of course this is outside the medicinal circuits. It's not a bad idea to do some research. My 2 cents. Hope you get well soon
Crypto community will say it will be XRP(Ripple) to become the next world currency
More time in the market, does not mean you trade better!
  • #703,616
  • Nov 3, 2022 11:12pm Nov 3, 2022 11:12pm
Quoting Pat Chiko
{quote} The issue is businesses and individuals will still prefer dollars unless highly motivated (read are forced at gunpoint) to choose a new currency. The Euro smoothly replaced a more complex European currency system. BRICS currency is a more complex replacement, with higher risk. {image} If more than 80% of global debt obligations and global trade are in USD, then in what currency will global creditors insist to be paid? As it now, USD is the denominator, it is also the most liquid market/currency. In truth, most other currencies behave as...
Hey Pat

i am not jealous? i am not going into details you know it and it is fine.

all i did was took, your chart and did the markings and said brainstorming, to understand why this Support résistance and trend line should not work. but it is okay i wont ask any questions to you onwards.

Best regards
Bilal

.
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"Exchange of hands"
  • #703,617
  • Nov 3, 2022 11:13pm Nov 3, 2022 11:13pm
Quoting Indiara
{quote} Thank you Pat, this is interesting. I was thinking like this: My local department store (which sells everything I need), is in a position to charge a lot for it's products, because it is the only 'one stop shop' in town. People will eventually be happy to suffer some inconvenience by shopping at a multitude of small shops for much less, because the small shops have less overheads, so can stock items at a lower price. Even the small shops start to trade with each other. Eventually, the big dept store feels this loss of income and so has to...
BTW, the image in previous post are "copy paste" from twitter.
I hope you understand and trying to avoid Mr ICT Hindsight complain my copy paste skill.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #703,618
  • Nov 3, 2022 11:18pm Nov 3, 2022 11:18pm
Quoting Pat Chiko
{quote} GU Target adjusted. Moved to positive stop.{image} Jobs report later.
May I ask why you changed your TP?
  • #703,619
  • Nov 3, 2022 11:19pm Nov 3, 2022 11:19pm
Quoting Pat Chiko
{quote} BTW, the image in previous post are "copy paste" from twitter. I hope you understand and trying to avoid Mr ICT Hindsight complain my copy paste skill.
Yes I do understand Pat, and I try to never complain, especially when people are helping me.
I am neither brave nor stupid...I am just a part time trader
  • #703,620
  • Edited 11:37pm Nov 3, 2022 11:19pm | Edited 11:37pm
Quoting Pat Chiko
{quote} BTW, the image in previous post are "copy paste" from twitter. I hope you understand and trying to avoid Mr ICT Hindsight complain my copy paste skill.
Mr Copy/Paste

Your above skills are perfect when you dont like me to use your chart even to understand, and with the same token you are free to use others analysis and even wordings, without even any reference ?

i am not jealous trust me. It was GENIUNE question i have asked you, but it hurts you like any thing.

any way i am getting over with it. this was my last post towards you clearing things up.

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Good luck and good trading
regards
bilal
"Exchange of hands"
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