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Cable Update (GBPUSD)

  • #707,601
  • Nov 16, 2022 4:14am Nov 16, 2022 4:14am
...of course wkly R1 (2027) @ y/day's hi and today's Dly R1 just below it (2017,) both in top 1/2 of that prev 1hr/4hr sw lo zone leading to y/day's 2029 hi. 2 x fibs of the 239pip pullback from it in the zone too, ie 76.4% and 85.4%. Price trades above the 50% of it with 61.8% @ 1937.
Trader with an Edge.
  • #707,602
  • Nov 16, 2022 4:14am Nov 16, 2022 4:14am
Quoting BeeTogether
Bears not coming out to play… I think they missed 2 important chances. One last night to take the Polish missile to its advantage and second the UK data
That fall of yesterday seems to be a trick. It should have happened today. Now as people think it's a sell they'll fly it up. I am actually scalping buys and jumping out quick. But I think the high of yesterday may be touched soon.

Can you imagine such very high forecasts with very low previous reads? This is a setup for an epic fail and price might fly out of the blocks without looking back!
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  • #707,603
  • Nov 16, 2022 4:17am Nov 16, 2022 4:17am
Quoting BeeTogether
Bears not coming out to play… I think they missed 2 important chances. One last night to take the Polish missile to its advantage and second the UK data
The moment GU rejecting to go lower at an order block on 30mins timeframe for its CPI, i know she will not go lower.
I once read a billionaire trader's story on how to use economic data for aftermath direction. He said how the market react on the data is more important than the data itself. Then trade accordingly because it is what the sentiment wants, just go with the follow!

From Market wizard
More time in the market, does not mean you trade better!
  • #707,604
  • Nov 16, 2022 4:17am Nov 16, 2022 4:17am
Rounded bottom forming on the 1hr.

Just bought 1926.
TP 2030.
  • #707,605
  • Nov 16, 2022 4:21am Nov 16, 2022 4:21am
  • #707,606
  • Nov 16, 2022 4:22am Nov 16, 2022 4:22am
Strange how just a few weeks ago this same currency seemed so toxic that people couldn't dump it fast enough.
  • #707,607
  • Nov 16, 2022 4:22am Nov 16, 2022 4:22am
Quoting Tronis
I have some longs running now {image}
Closed couple, left others running, SL at BE
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  • #707,608
  • Nov 16, 2022 4:24am Nov 16, 2022 4:24am
i will wait for retrace and enter long at the break
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yes yes yes
  • #707,609
  • Nov 16, 2022 4:26am Nov 16, 2022 4:26am
Quoting Moty
i will wait for retrace and enter long at the break {image}
Me too… this ain’t going down anytime soon
Insane in the Brain..
  • #707,610
  • Nov 16, 2022 4:26am Nov 16, 2022 4:26am
Quoting Mitiblotch
Rounded bottom forming on the 1hr. Just bought 1926. TP 2030.
Close at 0933. With just +6. Will buy again if dips.
  • #707,611
  • Nov 16, 2022 4:26am Nov 16, 2022 4:26am
Quoting MrFanciful
Strange how just a few weeks ago this same currency seemed so toxic that people couldn't dump it fast enough.
Boe intervention / Truss/Kwartengomics gone / Sunak/Huntenomics deemed more palatable by markets / Fed may be getting closer to pivoting .
Trader with an Edge.
  • #707,612
  • Nov 16, 2022 4:28am Nov 16, 2022 4:28am
Quoting nishantforex
Cable Daily Chart ...Buys piling {image}
Updated Chart.... BUYs moving ahead with strength
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  • #707,613
  • Nov 16, 2022 4:28am Nov 16, 2022 4:28am
Quoting Headland
{quote} Boe intervention / Truss/Kwartengomics gone / Sunak/Huntenomics deemed more palatable by markets / Fed may be getting closer to pivoting .
I'm still of the mindset that the economy would be better off by allowing the people who buy things to keep more of the money that they earn
  • #707,614
  • Nov 16, 2022 4:30am Nov 16, 2022 4:30am
Buy again 0926. TP 2036.
  • #707,615
  • Nov 16, 2022 4:34am Nov 16, 2022 4:34am
Quoting MrFanciful
{quote} I'm still of the mindset that the economy would be better off by allowing the people who buy things to keep more of the money that they earn
I agree, but if the people who buy things also want strong defence, police, public services, schools, hospitals etc, to say nothing of servicing the interest on govt debt that pertains to govt spending above it's means for decades, on the people's behalf, ie govts elected by those people who buy things - then they will have to pay more tax for now, as the markets have signaled that they won't finance tax cuts by increased borrowing. (c/f Truss/Kwarteng.)
Trader with an Edge.
  • #707,616
  • Nov 16, 2022 4:44am Nov 16, 2022 4:44am
I am still not trading GU. However, I may consider a sneakyLINK short at 1.20846
  • #707,617
  • Nov 16, 2022 4:46am Nov 16, 2022 4:46am
...will the bullish hidden div on 1hr @ y/day's 1790 lo see an upside follow thru above y/day's 2029 hi? May be dependent on the U.s data to come?

1hr below
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Trader with an Edge.
  • #707,618
  • Nov 16, 2022 4:48am Nov 16, 2022 4:48am
Quoting Moty
i will wait for retrace and enter long at the break {image}
Come on mf
Gp tp 1.20000
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yes yes yes
  • #707,619
  • Nov 16, 2022 4:49am Nov 16, 2022 4:49am
i will flip to short if the US data is poor. I am half expecting it be TBH as the last few batches of data have been.

Leaving current shorts to lick their wounds but not pulling out just yet
Insane in the Brain..
  • #707,620
  • Nov 16, 2022 4:52am Nov 16, 2022 4:52am
Quoting BeeTogether
i will flip to short if the US data is poor. I am half expecting it be TBH as the last few batches of data have been. Leaving current shorts to lick their wounds but not pulling out just yet
Be guided by price when it happens, (if it happens lol,!) don't make a decision yet, anything can happen.
Trader with an Edge.
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