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Cable Update (GBPUSD)

  • #707,221
  • Nov 15, 2022 4:57am Nov 15, 2022 4:57am
I wish this hour closes above DT. I love me some FO
  • #707,222
  • Nov 15, 2022 4:59am Nov 15, 2022 4:59am
Quoting MrFanciful
Maybe I was wrong. Perhaps a CPI of 7.7% rather than 7.9% is the collapse of the dollar. I just have a hard time believing that.
I think it's more than just that one piece of data, it's the narrative coming out of HM Govt in Uk that Sunak/Hunt have a better handle on the economy than the TTruss/Kwartebng fiasco...ie that yes there are going to be tax rises/spending cuts which will further take demand out of the economy but these will be largely back ended so as not to deepen any possible recession just as Boe is 'tightening' as well, and that the Uk economy is in 'good shape' going into any potential recession. Also the Russian withdrawal from Kherson, and perhaps even tensions easing with China re the Biden/Jinping face-to-face y/day? Ie it's the 'whole' fundie picture, and the market's take on it.
-----------------------------------------

...bears will be hoping there is some supply in this prev 4hr/dly sw hi zone to 1901.
Trader with an Edge.
  • #707,223
  • Nov 15, 2022 5:02am Nov 15, 2022 5:02am
Quoting JayBag
I wish this hour closes above DT. I love me some FO
Awesome!
Now, that should have brought in more bulls for slaughter.
MM, do your thing
  • #707,224
  • Nov 15, 2022 5:03am Nov 15, 2022 5:03am
Quoting Headland
{quote} I think it's more than just that one piece of data, it's the narrative coming out of HM Govt in Uk that Sunak/Hunt have a better handle on the economy than the TTruss/Kwartebng fiasco...ie that yes there are going to be tax rises/spending cuts which will further take demand out of the economy but these will be largely back ended so as not to deepen any possible recession just as Boe is 'tightening' as well, and that the Uk economy is in 'good shape' going into any potential recession. Also the Russian withdrawal from Kherson and perhaps...
I wouldn't say they have a better handle. Removing everyones spending power is not good for the economy. The economy requires people to have money. The less money people have, the less they can spend, the less money changes hands the less tax there is, the more businesses fail, the higher the unemployment gets, the more benefits need to be paid the more borrowing the government needs.
  • #707,225
  • Nov 15, 2022 5:05am Nov 15, 2022 5:05am
Short again Gbpusd
  • #707,226
  • Nov 15, 2022 5:06am Nov 15, 2022 5:06am
Quoting Yngwie
{quote} Sold 1.1855
Reload Sold 1.1880 SL 1.1890
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #707,227
  • Nov 15, 2022 5:06am Nov 15, 2022 5:06am
Seeing dollar dropping 100p+ before PPI ? reminds me of seeing it rising 100p before CPI....just an observation
COT: The precious data ignored
  • #707,228
  • Nov 15, 2022 5:07am Nov 15, 2022 5:07am
Quoting Georginson
{quote} Gap finally filled... Bears may attack anywhere from 1.1835 - 1.1900 to target 1.1598...
Still on course...
Data + Stat + Risk/Emotions Management
  • #707,229
  • Nov 15, 2022 5:07am Nov 15, 2022 5:07am
Quoting Fardeen1209
{quote} How come your chart missed some bearish candles on last Friday? something like 4 candles
my broker close the FX market 2 hour before it actually closed.
sucks, but the spreads are small so its a trade off that i can except
  • #707,230
  • Nov 15, 2022 5:08am Nov 15, 2022 5:08am
Also, yesterday Hunt said that the NHS is on the brink of collapse. He was Health Secretary from 2012-2018 so he will be largely responsible for that. He's now in charge of the Treasury.
  • #707,231
  • Nov 15, 2022 5:09am Nov 15, 2022 5:09am
Quoting MrFanciful
{quote} I wouldn't say they have a better handle. Removing everyones spending power is not good for the economy. The economy requires people to have money. The less money people have, the less they can spend, the less money changes hands the less tax there is, the more businesses fail, the higher the unemployment gets, the more benefits need to be paid the more borrowing the government needs.
They know that, but it's a 'Hobson's choice' isn't it?...if they don't get the govt finances into shape we are really screwed, and the blunt tool of raising raxes/rates and cutting spending is what they do in this accepted econonmic orthodoxy...

Quoting MrFanciful
Also, yesterday Hunt said that the NHS is on the brink of collapse. He was Health Secretary from 2012-2018 so he will be largely responsible for that. He's now in charge of the Treasury.
The NHS is always on the brink of collapse. It's a giant black-hole. You could put the county's entire GDP into it and it would still not be enough!
Trader with an Edge.
  • #707,232
  • Nov 15, 2022 5:15am Nov 15, 2022 5:15am
1 minute chart confirms short. Let’s see
  • #707,233
  • Nov 15, 2022 5:17am Nov 15, 2022 5:17am
New td # 9 sell set up is near
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  • #707,234
  • Nov 15, 2022 5:18am Nov 15, 2022 5:18am
Bulls are about to be taken to where them nor know oo!
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  • #707,235
  • Nov 15, 2022 5:20am Nov 15, 2022 5:20am
Next the whales go after SL!
  • #707,236
  • Nov 15, 2022 5:24am Nov 15, 2022 5:24am
Quoting Bella.al
{quote} Current Rate : 1.18596 I am +105 Pips as i write this , i have re-adjusted Trailing Stop to 1.17992 ( Locked +44 Pips ) -Bella's Blue {image}

Current Rate : 1.18752

As the Cable trades and Holds above 1.18210 , i am going to see Daily Close above this figure very soon and ..... both Objectives will be completed.

1. Daily Close above 1.18210 ( important )
2. Price Touch :1.18850

-Reference link below ( posted previously )
https://www.forexfactory.com/thread/...5#post14222615

-bella
Goddess of Thunder..
  • #707,237
  • Nov 15, 2022 5:25am Nov 15, 2022 5:25am
Hi guys!
Let's share your next move..

Have a great day!
  • #707,238
  • Nov 15, 2022 5:32am Nov 15, 2022 5:32am
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yes yes yes
  • #707,239
  • Nov 15, 2022 5:40am Nov 15, 2022 5:40am
...regular bearish div on 5min/15min/30min/1hr @ current dly hi in that prev 4hr/dly sw hi zone that extends to 1901. Will last week's hi and the prev sw hi zone on 1hr/4hr/minor dly that developed there act as rbs now if tested? 4hr part of it extends down to circa 1830.

15min below as an eg.
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Trader with an Edge.
  • #707,240
  • Nov 15, 2022 5:40am Nov 15, 2022 5:40am
JayBag where is your first tp target?
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