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Cable Update (GBPUSD)

  • #707,781
  • Nov 17, 2022 2:50am Nov 17, 2022 2:50am
Quoting navk
{quote} daily r1 , daily s1 is part of daily pivot indicator
GBPUSD should test below of 1,1790 zone before it become more bullish
  • #707,782
  • Nov 17, 2022 2:54am Nov 17, 2022 2:54am
...potential for 3min/5min bullish hidden div to develop whilst price above 1891.
Trader with an Edge.
  • #707,783
  • Nov 17, 2022 2:54am Nov 17, 2022 2:54am
Quoting navk
{quote} daily r1 , daily s1 is part of daily pivot indicator
PP isn't something I've looked a lot at.

I've tried higher timeframe trading and I just can't seem to develop the patience. I find low timeframe scalping best fits my psychology. I essentially just trade along an EMA, with 20 pip targets but the problem I have is, i guess like everyone else, finding a reliable system of determining where the trend will likely stop and reverse.

This turn downward that just occurred allowed me to capture 20 pips on the basis that it took out yesterdays high, and the DXY seemed to be turning up from a level of support.
  • #707,784
  • Nov 17, 2022 2:58am Nov 17, 2022 2:58am
Long at the 118 800 staying long for a while not looking at shorts only if as pullback to go higher.
  • #707,785
  • Nov 17, 2022 3:03am Nov 17, 2022 3:03am
Quoting MrFanciful
{quote} Is that the daily pivot?
There is now high probability that DXY will move to 108.60 area, the low of this week seems a fakey, and for today it is likely one way, dont counter the trend
  • #707,786
  • Nov 17, 2022 3:09am Nov 17, 2022 3:09am
Quoting Fardeen1209
{quote} I think two weeks ago Hunt said something like £35bn cut in spending £25bn Tax Raise. Any deviation from that can be impactful {image}
I think thats what the market want from the Autumn statement today
Attached Image (click to enlarge)
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More time in the market, does not mean you trade better!
  • #707,787
  • Nov 17, 2022 3:12am Nov 17, 2022 3:12am
Quoting navk
One of my trading rule is : If NY high or low breaks, expect price to test r1 / s1 at the instant most of days. And it is done today
I checked what you wrote, my friend,
and in most cases the high or low of your New York open already touches R1 or S1,
it's better to go with the good old method, breaking the Asian session
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yes yes yes
  • #707,788
  • Nov 17, 2022 3:15am Nov 17, 2022 3:15am
Quoting MrFanciful
{quote} PP isn't something I've looked a lot at. I've tried higher timeframe trading and I just can't seem to develop the patience. I find low timeframe scalping best fits my psychology. I essentially just trade along an EMA, with 20 pip targets but the problem I have is, i guess like everyone else, finding a reliable system of determining where the trend will likely stop and reverse. This turn downward that just occurred allowed me to capture 20 pips on the basis that it took out yesterdays high, and the DXY seemed to be turning up from a level...
interesting! https://www.forexcracked.com/educati...forex-trading/
  • #707,789
  • Nov 17, 2022 3:19am Nov 17, 2022 3:19am
Quoting Fardeen1209
{quote} I think thats what the market want from the Autumn statement today {image}
interesting … do you also feel the autumn statement is already priced in like I do ?
Insane in the Brain..
  • #707,790
  • Nov 17, 2022 3:26am Nov 17, 2022 3:26am
Quoting BeeTogether
{quote} interesting … do you also feel the autumn statement is already priced in like I do ?
Yes, may be!

Anything Bad from Hunt might be more impactful than Good: i.e. Raise More TAx than Spending Cuts to finance the hole(BAD)
Since the mini-budget, and the new govt leader Rishi, GBP has been trending up, which might be the confidence from the gilt selloff are coming back. But I think if JHunt delivers as expected, we might see some more money to be back in UK economy and the bulls might start again in Tomorrow Asia, Japanese Hedge funds money back in the game for gilts
More time in the market, does not mean you trade better!
  • #707,791
  • Nov 17, 2022 3:32am Nov 17, 2022 3:32am
1867 first target 1832 1760
  • #707,792
  • Nov 17, 2022 3:35am Nov 17, 2022 3:35am
Quoting elbert3
1867 first target 1832 1760
Do you think this pullback could come down to 1598 area, or are we looking at a short term correction? (I presume you have a crystal ball)
  • #707,793
  • Nov 17, 2022 3:38am Nov 17, 2022 3:38am
Will Take Reverse Trade of Bella.al

My Entry 1.1900 - 1.19500 - 1.20000

Stop 1.20200

Target 1.17988

See You

Nice Thread
Shekh In Desert
  • #707,794
  • Nov 17, 2022 3:38am Nov 17, 2022 3:38am
Attached Image (click to enlarge)
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3 shorts and SL as shown . . .

  • #707,795
  • Nov 17, 2022 3:39am Nov 17, 2022 3:39am
bulls trap
loss some there
switched to long uj
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yes yes yes
  • #707,796
  • Nov 17, 2022 3:42am Nov 17, 2022 3:42am
....well that shook out a few bulls! Testing a prev 1hr sw lo zone now that extends down to current dly lo = prev supp = pot supp.

1hr below
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Trader with an Edge.
  • #707,797
  • Nov 17, 2022 3:43am Nov 17, 2022 3:43am
candlehigh is bear
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  • #707,798
  • Nov 17, 2022 3:45am Nov 17, 2022 3:45am
Quoting Garthmetro
{quote} Do you think this pullback could come down to 1598 area, or are we looking at a short term correction? (I presume you have a crystal ball)
As much as I’d love to see that area especially as it opened up 110 and 105 I can’t see it anytime soon
Insane in the Brain..
  • #707,799
  • Nov 17, 2022 3:45am Nov 17, 2022 3:45am
Quoting Garthmetro
{quote} Do you think this pullback could come down to 1598 area, or are we looking at a short term correction? (I presume you have a crystal ball)
sorry no crystal ball, cable and trading intuition lol Regards E,,,,, PLAY IT AS YOU SEE IT
  • #707,800
  • Nov 17, 2022 3:46am Nov 17, 2022 3:46am
Quoting elbert3
1867 first target 1832 1760
11760 is my TP I have set. Although it will need a huge push down from the budget today. (Like is Kwazi stepping in)
Insane in the Brain..
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