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Cable Update (GBPUSD)

  • #703,761
  • Nov 4, 2022 4:26am Nov 4, 2022 4:26am
Quoting Indiara
{quote} Sometimes the market is laughing at us. We have to smile and let the market enjoy it's victory. We will have another chance
Another lesson learned. Dont overthink and be patient.
No pen no gen
  • #703,762
  • Nov 4, 2022 4:27am Nov 4, 2022 4:27am
Just closed the last three trades from yesterday's position prior to the BOE decision, and ahead of my 100-pip target gain
Reaped some 200-pip gains still, net of cut loss since I now don't have amlle time to occassionally check how the market is doing.

Will be back by NY time.
"No trade is still a trade." - Peter Borish
  • #703,763
  • Nov 4, 2022 4:27am Nov 4, 2022 4:27am
Sold 1.1247 SL 1.1260
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #703,764
  • Nov 4, 2022 4:31am Nov 4, 2022 4:31am
Quoting Pat Chiko
{quote} GU adjusting tp (immediate) {image}
GU

partial TP.
Attached Image (click to enlarge)
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P/s along the way there was IN/OUT trade "Waveskie Styles"
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #703,765
  • Nov 4, 2022 4:32am Nov 4, 2022 4:32am
Quoting OragonFx
{quote} Another lesson learned. Dont overthink and be patient.
BeeCool?
"No trade is still a trade." - Peter Borish
  • #703,766
  • Nov 4, 2022 4:33am Nov 4, 2022 4:33am
... break up pretty much into no-man's land re 1hr t/f, but at least the Asian session range broke.

1hr below
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Trader with an Edge.
  • #703,767
  • Nov 4, 2022 4:33am Nov 4, 2022 4:33am
Quoting OragonFx
{quote} Another lesson learned. Dont overthink and be patient.
I like that.

The first one is my hobby, the second one is difficult in real life....
I'm always having FOMO trades..
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #703,768
  • Edited 4:45am Nov 4, 2022 4:35am | Edited 4:45am
Quoting Pat Chiko
{quote} GU partial TP.{image} P/s along the way there was IN/OUT trade "Waveskie Styles"
I did too much IN and OUT trades today.

Sleeping onto trades no use.

Attached Image (click to enlarge)
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Intraday only.
  • #703,769
  • Nov 4, 2022 4:35am Nov 4, 2022 4:35am
Quoting Lbrto
{quote} BeeCool?
gagi hahaha
No pen no gen
  • #703,770
  • Nov 4, 2022 4:36am Nov 4, 2022 4:36am
Quoting OragonFx
{quote} Another lesson learned. Dont overthink and be patient.
There are many traders in this thread who are really excellent, so this may not mean too much. But, USDX is 1/2 of the XAU/USD pair. It is also 1/2 of GU and 1/2 of UJ. If there is no news that would affect any of those pairs independently, then the one thing that will move them is USD. This is why I love to keep a watch on USDX, if it looks likely to go down, then I will not Sell GU and I will not Buy UJ. It seems logical to me as USD is the common denominator (<--- big word for me!!) so I should pay attention to it.

Some of the better traders than me may have another view though, so what I say may not be worth much
I am neither brave nor stupid...I am just a part time trader
  • #703,771
  • Nov 4, 2022 4:38am Nov 4, 2022 4:38am
Quoting OragonFx
{quote} gagi hahaha
"No trade is still a trade." - Peter Borish
  • #703,772
  • Nov 4, 2022 4:39am Nov 4, 2022 4:39am
Manipulation in play... Who buying? Who selling?
Peace Yo!
  • #703,773
  • Nov 4, 2022 4:42am Nov 4, 2022 4:42am
Quoting Indiara
{quote} There are many traders in this thread who are really excellent, so this may not mean too much. But, USDX is 1/2 of the XAU/USD pair. It is also 1/2 of GU and 1/2 of UJ. If there is no news that would affect any of those pairs independently, then the one thing that will move them is USD. This is why I love to keep a watch on USDX, if it looks likely to go down, then I will not Sell GU and I will not Buy UJ. It seems logical to me as USD is the common denominator (<--- big word for me!!) so I should pay attention to it. Some of the better...

What Currencies Are in the USDX Basket?
The USDX tracks the dollar's (USD) relative strength against a basket of foreign currencies. The weightings have been fixed since 1973 (and later adjusted in 2002 when the euro replaced many European currencies):5

  1. Euro (EUR) - 57.6% weight
  2. Japanese yen (JPY) - 13.6%
  3. Pound sterling (GBP) - 11.9%
  4. Canadian dollar (CAD) - 9.1%
  5. Swedish krona (SEK) - 4.2%
  6. Swiss franc (CHF) - 3.6%

All currencies have a relationship with Gold.

  • #703,774
  • Nov 4, 2022 4:44am Nov 4, 2022 4:44am
...23.6% weds hi - fri current dly lo was all I had @ the current dly hi, (daily pivot @/around there too,) but could have been a stop hunt above that prev 1hr sw hi zone/asian session hi - re supply?
Trader with an Edge.
  • #703,775
  • Nov 4, 2022 4:49am Nov 4, 2022 4:49am
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loverly trade
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  • #703,776
  • Nov 4, 2022 4:50am Nov 4, 2022 4:50am
Quoting Indiara
{quote} There are many traders in this thread who are really excellent, so this may not mean too much. But, USDX is 1/2 of the XAU/USD pair. It is also 1/2 of GU and 1/2 of UJ. If there is no news that would affect any of those pairs independently, then the one thing that will move them is USD. This is why I love to keep a watch on USDX, if it looks likely to go down, then I will not Sell GU and I will not Buy UJ. It seems logical to me as USD is the common denominator (<--- big word for me!!) so I should pay attention to it. Some of the better...
Attached File(s)
File Type: pdf ICE_Dollar_Index_FAQ.pdf   149 KB | 298 downloads
"Exchange of hands"
  • #703,777
  • Nov 4, 2022 4:51am Nov 4, 2022 4:51am
Attached Image (click to enlarge)
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Added to shorts . . .

  • #703,778
  • Nov 4, 2022 4:51am Nov 4, 2022 4:51am
the simplest cable trading template [ thanks wolf ]
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  • #703,779
  • Nov 4, 2022 4:53am Nov 4, 2022 4:53am
Quoting Indiara
{quote} There are many traders in this thread who are really excellent, so this may not mean too much. But, USDX is 1/2 of the XAU/USD pair. It is also 1/2 of GU and 1/2 of UJ. If there is no news that would affect any of those pairs independently, then the one thing that will move them is USD. This is why I love to keep a watch on USDX, if it looks likely to go down, then I will not Sell GU and I will not Buy UJ. It seems logical to me as USD is the common denominator (<--- big word for me!!) so I should pay attention to it. Some of the better...
dantpm points out the flaw with trying to use it for this pairing, ie it's only 11.9% of the basket, but I guess as the biggest component Eur has a direct correlation with gbp, [the coefficient of which/extent to which varies,] it can be somewhat useful, but I haven't ever really found it to be so as a so-called leading indicator for this gbpusd pairing. That's just personal experience though and limited at that, and therefore not exactly definitive. So if it works for you / is useful to you in your trading, keep using it.
Trader with an Edge.
  • #703,780
  • Nov 4, 2022 4:53am Nov 4, 2022 4:53am
Cable trend remains down
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