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Cable Update (GBPUSD)

  • #707,541
  • Nov 16, 2022 1:37am Nov 16, 2022 1:37am
I will be targeting 1.1675 today if 1.1915 holds... Yesterday surge to 1.2028 took me off and I took emotional decision not to hold my sell... The last time we had such monthly bull candle of 890 pips was October 2011... A very weird move. History has clearly shown this month will end bullish and close to the high also.
Data + Stat + Risk/Emotions Management
  • #707,542
  • Nov 16, 2022 1:39am Nov 16, 2022 1:39am
1.1900 as I mentioned in asia had tested

I will now wait for PA to move closer to this price again, and want to see a 60 min resistance at that level for confident short.
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Intraday only.
  • #707,543
  • Nov 16, 2022 1:40am Nov 16, 2022 1:40am
Quoting dantpm
{quote} I believe that the CPI news is neutral to positive.
It's defenetly positive, and first signal that BOE will has increasing rate policy in close future time. The whole influence of news will be when market open, still we see only Asian and Europian players...
  • #707,544
  • Nov 16, 2022 1:43am Nov 16, 2022 1:43am
t 07-40 uk time,
greetings again from a very wet UK.
Same as everyday, i will scalp Cable off the 07-45 to 08-00 candle and again off th e08-00 to 08-15 minute range candle, for a pip or two.
Uk market opens at this this time 08-00 .

My bias is long as the 11887 00-00 4 hour bar range high was broken.
If/when price breaks the low of 11833 it will then be short, this is more for my information if i have to fix a fail.
Trade well all.
t07-43
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #707,545
  • Nov 16, 2022 1:43am Nov 16, 2022 1:43am
Quoting DmShka
{quote} It's defenetly positive, and first signal that BOE will has increasing rate policy in close future time. The whole influence of news will be when market open, still we see only Asian and Europian players...

'Energy costs' appear to be the only higher cost in CPI, raising interest rates would just be a 'double blow' to consumers.
  • #707,546
  • Nov 16, 2022 1:46am Nov 16, 2022 1:46am
GU completed its yearly circle (bearish move) and currently retested the last level yesterday.
Just my idea on GU long-term wise..

Maybe not. Perhaps I just like drawing arrows
Please throw some input folks

Let's have a constructive argument
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  • #707,547
  • Nov 16, 2022 1:47am Nov 16, 2022 1:47am
Quoting DmShka
{quote} It's defenetly positive, and first signal that BOE will has increasing rate policy in close future time. The whole influence of news will be when market open, still we see only Asian and Europian players...
I believe the next BOE hike remains at 50bps leaving us with an EOY BOE rate of 3.5% because;
#1 The uk economy could not hold too much rapid rate hike
#2 BOE projection CPI is 11% for Q4 2022, the actual figure is in line with the BOE projection, so 50bps for me on Dec 15.
More time in the market, does not mean you trade better!
  • #707,548
  • Nov 16, 2022 1:50am Nov 16, 2022 1:50am
Quoting Fardeen1209
{quote} I believe the next BOE hike remains at 50bps leaving us with an EOY BOE rate of 3.5% because; #1 The uk economy could not hold too much rapid rate hike #2 BOE projection CPI is 11% for Q4 2022, the actual figure is in line with the BOE projection, so 50bps for me on Dec 15.
It will probably be 50 bp because everyone else will increase 50 bp. The only big negatives in the UK are energy costs and the Russia/Ukraine war costs, not controllable by the public.
  • #707,549
  • Nov 16, 2022 1:52am Nov 16, 2022 1:52am
Quoting Fardeen1209
{quote} I believe the next BOE hike remains at 50bps leaving us with an EOY BOE rate of 3.5% because; #1 The uk economy could not hold too much rapid rate hike #2 BOE projection CPI is 11% for Q4 2022, the actual figure is in line with the BOE projection, so 50bps for me on Dec 15.
I don't believe to expectations a lot, but it could influence to market beforehand by big players, when price just moving and any technical analysis not working... Better play on fact, and be in market when price grab liquidity in strong support/resistance...
  • #707,550
  • Nov 16, 2022 1:52am Nov 16, 2022 1:52am
this going be boring day... a ranging...
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  • #707,551
  • Nov 16, 2022 1:52am Nov 16, 2022 1:52am
Quoting JayBag
GU completed its yearly circle (bearish move) and currently retested the last level yesterday. Just my idea on GU long-term wise.. Maybe not. Perhaps I just like drawing arrows Please throw some input folks Let's have a constructive argument {image}
You can see on chart below that so far today after y/day's bullish-bodied dly candle that price is stuck between the ones disrespected as rbs sw hi zone to 1901 and once disrespected as rbs again prev minor sw hi zone to 1854, below it. Perhaps a break of the extremes of one of these will determine direction for today? Or maybe not!

dly below
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Trader with an Edge.
  • #707,552
  • Nov 16, 2022 1:54am Nov 16, 2022 1:54am
Quoting JayBag
{quote} Oh, I am selling 145.19719 area for 142.5708 145.19719 looks like a rock to be reckoned with It's a Tripple A rating setup (a phrase coined by PAT) Anyway, let's see
Copied yr trade yesterday and it was great and that why I am looking into ej at the moment.

watch the whole buy up process. Anyway I am still learning. I rather follow u atm haha
  • #707,553
  • Nov 16, 2022 1:54am Nov 16, 2022 1:54am
Quoting Headland
{quote} So that support holds (for now!) ---------------------------------------- 1hr rangy, 4hr in uptrend at the moment.
My charts just opened up the upside of GU quite a bit, at least into the 1.2 area. Are you seeing something similar?
  • #707,554
  • Nov 16, 2022 1:55am Nov 16, 2022 1:55am
Quoting Yngwie
{quote} Long again 1.1840 SL 1.1790
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #707,555
  • Nov 16, 2022 1:56am Nov 16, 2022 1:56am
Quoting Headland
{quote} You can see on chart below that so far today after y/day's bullish-bodied dly candle that price is stuck between the ones disrespected as rbs sw hi zone to 1901 and once disrespected as rbs again prev minor sw hi zone to 1854, below it. Perhaps a break of the extremes of one of these will determine direction for today? Or maybe not! dly below {image}
Good TA view as always.
I have to agree with you on waiting on a break of the extremes to locate today's move. If I was trading GU today, I'd use your idea of BO and try to safely sneak into a trade.

Anyway, let's see how it goes. The day is still light
  • #707,556
  • Nov 16, 2022 1:57am Nov 16, 2022 1:57am
Quoting Fardeen1209
US Retails Sales Banks' Expectation: Citi- 1.4% MoM Wells Fargo- 1% MoM CIBC- 1.3% MoM TDS- 1.2% MoM Commerzbank- 1.2% MoM NBF- 1.1% MoM RBC- 1% MoM
Retail sales figure is simply the amount of money people are spending, it doesn't reflect how much people are buying.
Couple that with the biggest increase in credit card debt in 20 years, it is not because of a healthy economy. It's because people are turning to credit card debt just to tread water.
  • #707,557
  • Nov 16, 2022 1:58am Nov 16, 2022 1:58am
Quoting dantpm
{quote} My charts just opened up the upside of GU quite a bit, at least into the 1.2 area. Are you seeing something similar?
Well that potential support held and a strong reaction off it, ie the bounce so could well be - it's a plausible scenario.

1hr below
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Trader with an Edge.
  • #707,558
  • Nov 16, 2022 1:58am Nov 16, 2022 1:58am
40 pip up I n a matter of minutes… would have expected a bigger drop. This could be 120 talking
Insane in the Brain..
  • #707,559
  • Nov 16, 2022 1:59am Nov 16, 2022 1:59am
Quoting Yngwie
{quote} Long again 1.1840 SL 1.1790
Closed for 60 pips
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #707,560
  • Nov 16, 2022 2:01am Nov 16, 2022 2:01am
Quoting Zeiferz
{quote} Copied yr trade yesterday and it was great and that why I am looking into ej at the moment. watch the whole buy up process. Anyway I am still learning. I rather follow u atm haha
I am glad I could help but please always apply caution as I sometimes get high on my own TA lol.
Anyhow, it failed to complete the mandatory minimum target yesterday. Let's hope it does today

I am saying 'mandatory minimum target' because for a Tripple A rating setup like that, price usually breaks or tests LOWS/HIGHS before a possible extension or rebound.

Take care and I hope you learn something really useful here.
Cheers
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