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Cable Update (GBPUSD)

  • #706,761
  • Nov 13, 2022 3:11am Nov 13, 2022 3:11am
This week will be interesting the UK autumn budget finally on Thursday, it’s looking to be very tax heavy. Not sure how the markets will like that as it’s also very much based in public spending cuts such as healthcare and education. Maybe that could be the trigger for a drop to 115?
Insane in the Brain..
  • #706,762
  • Nov 13, 2022 3:29am Nov 13, 2022 3:29am
Quoting Garthmetro
{quote} any thoughts on how the election result update might affect the pair?
Honestly, I do not pay attention to that. All I want to see is in the chart.
Data + Stat + Risk/Emotions Management
  • #706,763
  • Nov 13, 2022 4:37am Nov 13, 2022 4:37am
Internet and news media discussions about FTX and defaults

Very simple rules for any currency
It must be backed by a sovereign in order to be referred to as a currency.

Bitcoin and other cryptocurrencies do not have sovereign rights.
  • #706,764
  • Nov 13, 2022 5:04am Nov 13, 2022 5:04am
Quoting trade866
Internet and news media discussions about FTX and defaults Very simple rules for any currency It must be backed by a sovereign in order to be referred to as a currency. Bitcoin and other cryptocurrencies do not have sovereign rights.
crypto would be doing fine if it weren't for the exchanges, this comes from the very begging with Mtgox
  • #706,765
  • Nov 13, 2022 6:35am Nov 13, 2022 6:35am
Quoting BeeTogether
This week will be interesting the UK autumn budget finally on Thursday, it’s looking to be very tax heavy. Not sure how the markets will like that as it’s also very much based in public spending cuts such as healthcare and education. Maybe that could be the trigger for a drop to 115?
after such drop one could look to scalp upward from there ?
  • #706,766
  • Nov 13, 2022 6:37am Nov 13, 2022 6:37am
Quoting bilal1947
...However, fundamentally Dollar has finally taken the hit after CPI nos improved and Fed may go for pivot, which will push Dollar down further, whereas for pound Bank of England indicating last week that Britain's economy was set to go into a two-year recession if interest rates continued to rise to combat inflation, so they also dovish. perhaps next interest rate raise will decide who is more dovish, till than what to do? What i mark on my chart is...
Despite our different beliefs, the more I read you, the more I realize how our trading is alike nonetheless, and I love that!

Scalping saves one from most of all this indecision, so continue to do Bilal1947 scalping! with style !!!


Thanks for the good read mate !

P.S Happy relaxing loving Sunday everyone
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If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #706,767
  • Edited 7:51am Nov 13, 2022 7:02am | Edited 7:51am
Outside impactful news time of coursee etc, one of the beauties of scalping is that, when it is indecision time on the larger scale, scalping can still continue to be just as diversified, and have its cute exploitation moments of trend, countertrend and even go ranging heaven mode, all in a day, all the while our biggest of buddies (just as valuable for other reasons of course, don't get me wrong !!!)are temporarily stuck or have to slow down for a while, doesnt know for how long, and if has not a diversified enough range of strategies, is often forced to focus on drinking even more of his/hers favorite beer, Whiskey, wine or coffee or tea or eating wondrous dessert ! And/or be even longer with even yummier company, on the Seashore, and perhaps for much longer than expected . Fun Sunday writing !

The shortest time of trading enables the trader to be less exposed to risk overall, getting in and out fast, all the while making the most $/time. Of course, it depends on each strategy and trader. But I am no good at explaining compared to other sources out there as well as in here. To whomever is very interested in the subject, I strongly recommend ALL of Bionics's posts. Here the profile : Bionics's Profile | Forex Factory
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If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #706,768
  • Nov 13, 2022 8:24am Nov 13, 2022 8:24am
Quoting mtako
{quote} Win and Loss = 2 steamy lovers well, sometimes {image} {image}
Both familiar.
  • #706,769
  • Nov 13, 2022 8:29am Nov 13, 2022 8:29am
Quoting trade866
Internet and news media discussions about FTX and defaults Very simple rules for any currency It must be backed by a sovereign in order to be referred to as a currency. Bitcoin and other cryptocurrencies do not have sovereign rights.
Fiat currencies were dequalified in the early 2000s. They had to be backed with gold and not with the birth certificates of each individual. The governments do not say anything because they are part of the scam. It is easier for them to make up a pandemic and eliminate the herd. I think no one reading this will understand anything. It will be known in due course.
POSTMASTER
  • #706,770
  • Nov 13, 2022 8:35am Nov 13, 2022 8:35am
Quoting trade866
Internet and news media discussions about FTX and defaults Very simple rules for any currency It must be backed by a sovereign in order to be referred to as a currency. Bitcoin and other cryptocurrencies do not have sovereign rights.
Yea they can't allow a competitive currency, you have to be locked into the system which includes paying tax in a sovereign currency.
Bitcoin is deferent to crypto and is the only one with hope.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #706,771
  • Nov 13, 2022 8:38am Nov 13, 2022 8:38am
The monthly is bullish so the weekly isn't a dummy
Its going up medium term, where to have high doubt on bear moves is anywhere near the printed monthly lows + very highly likely, that Nov low right now.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #706,772
  • Nov 13, 2022 8:45am Nov 13, 2022 8:45am
The worst kind of blockchain is the central bank type, this will be very bad news for the average person.
As bad as coming off the gold standard.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #706,773
  • Nov 13, 2022 8:49am Nov 13, 2022 8:49am
Quoting Robinhood1
{quote} Fiat currencies were dequalified in the early 2000s. They had to be backed with gold and not with the birth certificates of each individual. The governments do not say anything because they are part of the scam. It is easier for them to make up a pandemic and eliminate the herd. I think no one reading this will understand anything. It will be known in due course.
Gold is in the pockets of the elite. That is why in the last 120 years wars have been organized with the purpose of looting.
Goverments, UN, vatican and others also have been dequalified. No digital curreny is legal no matter what they create. Time will tell. Read all you want, just BS.
POSTMASTER
  • #706,774
  • Nov 13, 2022 8:58am Nov 13, 2022 8:58am
Quoting Robinhood1
{quote} Gold is in the pockets of the elite. That is why in the last 120 years wars have been organized with the purpose of looting. Goverments, UN, vatican and others also have been dequalified. No digital curreny is legal no matter what they create. Time will tell. Read all you want, just BS.
https://en.wikipedia.org/wiki/Moscow_gold_(Spain)
And this is more o less the official version. The thruth is, gold vanished from Spain.
POSTMASTER
  • #706,775
  • Nov 13, 2022 9:02am Nov 13, 2022 9:02am
Quoting mtako
{quote} Win and Loss = 2 steamy lovers well, sometimes {image} {image}
Quoting Chris_35
{quote} Both familiar.
indeed, and regarding another perspective that is dear to my heart: the trader is well rewarded while balancing things out harmoniously, but this balancing act is also very lucrative in all aspects of life (apologies if there is chaste reader out there)

So my greatest wish for us all for this coming week, let's say together :

Let's Yin Yang this pair!!! (and other lovely aspects of life)!
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If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #706,776
  • Nov 13, 2022 9:24am Nov 13, 2022 9:24am
Quoting bilal1947
{quote} Stophunt Mastery book by Forexia https://www.forexfactory.com/thread/...3#post13604053
bilal1947, if I could, I would give you 1000's for your thread https://www.forexfactory.com/thread/...-action-system
You definitely need professional advertising people to "expose" you to the trading world, seriously. Congrats.
Always trade your own plan...I don't provide trading signals.
  • #706,777
  • Nov 13, 2022 9:31am Nov 13, 2022 9:31am
There is only a little more than 2 years left before we witness the start of a progressive reduction in the western population.
However, I am aware that progress is being made on this issue. GL to all.
POSTMASTER
  • #706,778
  • Nov 13, 2022 9:41am Nov 13, 2022 9:41am
Quoting mtako
{quote}Despite our different beliefs, the more I read you, the more I realize how our trading is alike nonetheless, and I love that! Scalping saves one from most of all this indecision, so continue to do Bilal1947 scalping! with style !!! Thanks for the good read mate ! P.S Happy relaxing loving Sunday everyone {image}
Thank you for your love and kind words.

further to our discussion on the stop hunt, on which i have share a book as well below is the main excerpt from it for others as well if missed.

Market Maker's Concept:
"Market Makers manipulate price and trap traders because it is the only way to make massive transactions at a current price level that is desired. “Stop Hunting” a long holder triggers a Sell order because you have to sell in order for you to get out of that trade. While “Stop Hunting” a short holder triggers a buy order because you have to buy in order for you to get out of that trade to protect your account"

Ref to the book: https://www.forexfactory.com/thread/...3#post13604053

so that's how breakout traders and stops gets activated which gives MM positions gets in while stop hunting, if still order not enough they keep on grinding till is enough of the accumulation, still not enough will manipulate to wrong side (Turtle Soup as denote by Linda Bradford Raschke /Juda Swing by ICT) until get their fills at best prices only then will give final expansion.

i have marked the same on my below chart for better understanding the same concept which i traded on 11.11.2022 on 1 Min. chart.
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"Exchange of hands"
  • #706,779
  • Edited 10:03am Nov 13, 2022 9:48am | Edited 10:03am
Quoting Coreg2004
{quote} bilal1947, if I could, I would give you 1000's for your thread https://www.forexfactory.com/thread/...-action-system You definitely need professional advertising people to "expose" you to the trading world, seriously. Congrats.
Thank you so so much for your kind words and motivation my friend

You know what, devil whispers me now a days why telling others what you can sell, or even for if you share it free with people, they will sell it or learn and mock you back that's how the world is, so no need to waste time.

This is what i am struggling from a couple of weeks sadly and shows i am a human being and emotions come over me at times.

but i am not jealous of anyone success but i feel i should ask questions to understand things more and it is others right to let it go.

Thank you again you made my day
best regards
bilal
"Exchange of hands"
  • #706,780
  • Edited 10:36am Nov 13, 2022 10:09am | Edited 10:36am
Quoting bilal1947
{quote} Thank you so so much for your kind words and motivation my friend You what, devil whispers me now a days why telling others what you can sell, or even for if you share it free with people, they will sell it or learn and mock you back that's how the world is, so no need to waste time. This is what i am struggling from a couple of weeks sadly and shows i am a human being and emotions come over me at times. but i am not jealous of anyone success but i feel i should ask questions to understand things more...
You are a beautiful soul and I am so sorry to hear that you are struggling with some things. It is normal. I had similar periods many years ago, when I had gotten involved with signals, copy, teaching, etc. None of it was worth the troubles. That is one of the reasons for the color of my sharing. I share what my heart feels like sharing at that given time, no more no less, and no matter how that makes me look or how that makes me appear to some who cannot give good honest serious thought before judging, or that are stuck in some cognitive bias or some other personal problem and projecting it on fellow sharers instead of looking within themselves, sadly. Happens to the best of us ! So I am at peace, sharing freely and staying clear of certain aspects of trading, like $, no matter where it comes from or what it is for.

Continue to be yourself dear Bilal1947, be in peace, be free.


Quoting nAVIN2007
{quote} Interesting thing is george...we have a low in place 1.03, the whole year has been down..we are approaching Christmas..pound generally bullish..how low do u think the pound can actually go? id actually think the probability to go higher is there..we are also seeing weakness in USD coupled with high interest rates.. which are now only starting to show up..in the chart
Good valuable points much better shared above by you and Georginson and others! I can only add my most incomplete Sunday thoughts on the matter. Hope it is of interest and helps nonetheless.

I personally have observed throughout the years that such a steep upslope in a downtrend is more often a sign that the correction is coming to its end(need to wait for an average to start curbing at least a little though to get in seriously, so this coming trading week is even more significant, in my opinion).

BIG BUT BUT BUT sometimes, the lesser probable outcome brings about ever more extreme exploitation of the movement in question, which sometimes pushes the limits near Black Swan levels (which are invisible anyways right?). Sometimes it actually happens to be one . Perhaps long time bulls like you will get an extra end-of-the-year gift !

It is for times like these that we as traders (with mm carefully adapted to strategy) need not have "all our eggs in one basket", and do not fall in "this can't happen" mentality, that we prepare for even the least likely of scenarios and that we do all the necessary work no matter how good the eggs in the basket look like in the moment .

Let's also stay Long-haul Traders!
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If I don't mention SL and/or TP = longer-term setup possibly in the works!
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