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Cable Update (GBPUSD)

  • #707,961
  • Nov 17, 2022 10:11am Nov 17, 2022 10:11am
For a thread made for professional traders, I see a lot of speculators. Fundamentally pound is a weak currency and no amount of technical data points can change that. Someone out there might be waiting to be the next Soros with the weakness war has created in both Eurozone and Britain
  • #707,962
  • Nov 17, 2022 10:12am Nov 17, 2022 10:12am
Steam running out however more lows to come I think maybe tomorrow

taken profit will enter short again when I see a good area
Insane in the Brain..
  • #707,963
  • Nov 17, 2022 10:13am Nov 17, 2022 10:13am
Quoting elbert3
Trying to protect that bottom .
dx is at res\time for retrace
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yes yes yes
  • #707,964
  • Nov 17, 2022 10:14am Nov 17, 2022 10:14am
Quoting Vishu258
For a thread made for professional traders, I see a lot of speculators. Fundamentally pound is a weak currency and no amount of technical data points can change that. Someone out there might be waiting to be the next Soros with the weakness war has created in both Eurozone and Britain
IF U SAY SO
  • #707,965
  • Edited 10:42am Nov 17, 2022 10:27am | Edited 10:42am
If we get a bounce here 1850 area i think 38% PULL BACK HERE ON THE LAST UP AND DOWN 1798 IS 61.8%
  • #707,966
  • Nov 17, 2022 10:29am Nov 17, 2022 10:29am
Quoting Moty
{image}i think it's time to go long{image}
Yes please Moty
  • #707,967
  • Nov 17, 2022 10:31am Nov 17, 2022 10:31am
Quoting Moty
{quote} i am with you {image} {image}
Moty, it is very important that 1.1763 breaks down to at least 1.1709 for us to be certain of 1.1598.

Checking last week chart, price did drop from 1.1598 to 1.1333 (265 pips drop) before another rocket up to 1.2028... now this same 265 pips drop is happening from 1.2028 to this current low of 1.1763...

With GU I have got to be very paranoid these days as I have been badly burned these past few months...

So 1.1763 needs to break down or else 1.21 will happen.
Data + Stat + Risk/Emotions Management
  • #707,968
  • Nov 17, 2022 10:33am Nov 17, 2022 10:33am
With inflation still VERY high, and US 2s/10s VERY inverted (-70bps), dollar should be bid & bid

No other way to lower inflation
COT: The precious data ignored
  • #707,969
  • Nov 17, 2022 10:48am Nov 17, 2022 10:48am
Could be pull back on the 4 hour candle ,,,,if so note 1832 to 1850 area if if it goes short there it should take this last bottom out ,,left sell orders down there
  • #707,970
  • Nov 17, 2022 10:48am Nov 17, 2022 10:48am
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  • #707,971
  • Nov 17, 2022 10:48am Nov 17, 2022 10:48am
Quoting Georginson
{quote} Moty, it is very important that 1.1763 breaks down to at least 1.1709 for us to be certain of 1.1598. Checking last week chart, price did drop from 1.1598 to 1.1333 (265 pips drop) before another rocket up to 1.2028... now this same 265 pips drop is happening from 1.2028 to this current low of 1.1763... With GU I have got to be very paranoid these days as I have been badly burned these past few months... So 1.1763 needs to break down or else 1.21 will happen.
it will retrace from imo
and maybe it will go back up , you never know
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yes yes yes
  • #707,972
  • Nov 17, 2022 11:07am Nov 17, 2022 11:07am
Gbpusd short 1.18350
  • #707,973
  • Nov 17, 2022 11:07am Nov 17, 2022 11:07am
Quoting elbert3
could be pull back on the 4 hour candle ,,,,if so note 1832 to 1850 area if if it goes short there it should take this last bottom out ,,left sell orders down there
loverly 8 trades in there on one min chart chased it up
  • #707,974
  • Nov 17, 2022 11:09am Nov 17, 2022 11:09am
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pp at 1824 see if I can keep pinching to 1850
  • #707,975
  • Nov 17, 2022 11:14am Nov 17, 2022 11:14am
Quoting bilal1947
it looks quick so just entered, LHs, will set to BE lets see it can come back from the lowest ob. {image}
Price goes up from the lowest ob into the poi, lets see if it goes short from here.
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"Exchange of hands"
  • #707,976
  • Nov 17, 2022 11:18am Nov 17, 2022 11:18am
Quoting bilal1947
{quote} Price goes up from the lowest ob into the poi, lets see if it goes short from here. {image}
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yes yes yes
  • #707,977
  • Nov 17, 2022 11:26am Nov 17, 2022 11:26am
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yes yes yes
  • #707,978
  • Nov 17, 2022 11:32am Nov 17, 2022 11:32am
Just fib the move see if if just a pull back its just hit 23% so lets seeif it moves up
  • #707,979
  • Nov 17, 2022 11:36am Nov 17, 2022 11:36am
Switched to short at 11824
Insane in the Brain..
  • #707,980
  • Nov 17, 2022 11:48am Nov 17, 2022 11:48am
Slowly slowly
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