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Cable Update (GBPUSD)

  • #710,401
  • Nov 30, 2022 10:44am Nov 30, 2022 10:44am
Quoting bilal1947
{quote} how do you interpret the news, mostly is it positive to USD? Powel and NFP will give Dxy further push higher. {image}
Research has established that there is no correlation between the news ("positive" or "negative") and the direction that price goes immediately thereafter.
To free Gazans of Hamas, use whatever it takes.
  • #710,402
  • Nov 30, 2022 10:46am Nov 30, 2022 10:46am
Quoting DrDave
{quote} They have negative correlation only part of the time. That is another reason that you get a better take on the situation if you look at EG, GU, and EU all together. However, if you are especially interested in trading GU, then stronger bias is obtained when you use GU, EG, EU, GJ, and UJ. Look for GU to match the direction of EU and GJ while UJ and EG are in the opposite direction.
I have to agree with this because I am just staring at my EG trade and I am like, "WTH?" GU has made a reasonable drop, and EG is just ranging. Well, I have always had difficulties with correlations because my observations show a lot of inconsistencies between them.

I think I will just disregard the correlation for good.
Thanks for your 2 cents bro
  • #710,403
  • Nov 30, 2022 10:47am Nov 30, 2022 10:47am
Attached Image (click to enlarge)
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  • #710,404
  • Nov 30, 2022 11:01am Nov 30, 2022 11:01am
Quoting JayBag
{quote} I have to agree with this because I am just staring at my EG trade and I am like, "WTH?" GU has made a reasonable drop, and EG is just ranging. Well, I have always had difficulties with correlations because my observations show a lot of inconsistencies between them. I think I will just disregard the correlation for good. Thanks for your 2 cents bro
That was 10 cents worth, my friend ....
To free Gazans of Hamas, use whatever it takes.
  • #710,405
  • Nov 30, 2022 11:04am Nov 30, 2022 11:04am
1.20159, a close above could be continuation, how I see it, a flurry on the 15min seems more of a pullback, course news could scupper any best laid plans, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #710,406
  • Nov 30, 2022 11:05am Nov 30, 2022 11:05am
Quoting DrDave
{quote} That was 10 cents worth, my friend ....
Actually, this is priceless information, and this will help me make a better choice going forward.
  • #710,407
  • Nov 30, 2022 11:09am Nov 30, 2022 11:09am
Quoting detector
1.20159, a close above could be continuation, how I see it, a flurry on the 15min seems more of a pullback, course news could scupper any best laid plans, D
If price is stopping about where it is now on M15, then you need to see how M5 looks after M15 makes at least a 3-bar swing high.

And at the moment, not even M1 has gone into a down trend, so it's still the waiting game to determine if this M15 rally is finished.
To free Gazans of Hamas, use whatever it takes.
  • #710,408
  • Nov 30, 2022 11:11am Nov 30, 2022 11:11am
btc
Attached Image (click to enlarge)
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  • #710,409
  • Nov 30, 2022 11:12am Nov 30, 2022 11:12am
looks like the pair is taking profits for some of you who thought it would go down even more. lol. always lock in profits
  • #710,410
  • Nov 30, 2022 11:13am Nov 30, 2022 11:13am
Quoting tradexyz
btc{image}
which airplane cockpit is this ?
  • #710,411
  • Nov 30, 2022 11:15am Nov 30, 2022 11:15am
Quoting DrDave
{quote} If price is stopping about where it is now on M15, then you need to see how M5 looks after M15 makes at least a 3-bar swing high.
Wise words thanks would say any imminent news may skew the chart, walk down walk up, you see something similar, D
I don't need to be good at the game, only good enough to beat my opponent,
  • #710,412
  • Nov 30, 2022 11:17am Nov 30, 2022 11:17am
Quoting StoppedOut
looks like the pair is taking profits for some of you who thought it would go down even more. lol. always lock in profits
Price certainly CAN go down more. If the current M15M30 up swing is a mere rally, then the expectation is for price to breach 1.19.
To free Gazans of Hamas, use whatever it takes.
  • #710,413
  • Nov 30, 2022 11:19am Nov 30, 2022 11:19am
Quoting detector
{quote} Wise words thanks would say any imminent news may skew the chart, walk down walk up, you see something similar, D
MMMM, I've opened a short on what the charts saying, quick scalp, D
EDIT
Scalp done in and out
I don't need to be good at the game, only good enough to beat my opponent,
  • #710,414
  • Nov 30, 2022 11:23am Nov 30, 2022 11:23am
Quoting Wavegarrick
{quote} Hi Folks, My weekly pivot at 1.20054 (yellow highlight - daily chart) coming up with lots of support at 11.1956 if there is an overshoot. I will look to add buy trades from here. Have a great week, Cheers. {image} {image}
I do not want to play devils advocate but as far as I can see 1.1956 remains important and that at month end. Gu is currently retracing from1.190000 and above 1.1956, 1.19550. Today's open at 1.19460 ish remains crux for a daily close above. I somehow see fakeys to trap sellers.
A daily close above 1.19460 good for bulls.
Trade safe,
Cheers.
Trade to trade another day
  • #710,415
  • Nov 30, 2022 11:26am Nov 30, 2022 11:26am
Quoting Wavegarrick
{quote} I do not want to play devils advocate but as far as I can see 1.1956 remains important and that at month end. Gu is currently retracing from1.190000 and above 1.1956, 1.19550. Today's open at 1.19460 ish remains crux for a daily close above. I somehow see fakeys to trap sellers. A daily close above 1.19460 good for bulls. Trade safe, Cheers.
Hi Leon,

are you talking long term?
because im waiting to sell higher, not sure where yet
but above 1.2

target 1.16X at least
  • #710,416
  • Nov 30, 2022 11:29am Nov 30, 2022 11:29am
Quoting Whale
{quote} Hi Leon, are you talking long term? because im waiting to sell higher, not sure where yet but above 1.2 target 1.16X at least
I am talking here and now,
Cheers,
Trade to trade another day
  • #710,417
  • Nov 30, 2022 11:34am Nov 30, 2022 11:34am
Quoting Whale
{quote} Hi Leon, are you talking long term? because im waiting to sell higher, not sure where yet but above 1.2 target 1.16X at least
Year end 1.23000, Cheers
Trade to trade another day
  • #710,418
  • Nov 30, 2022 11:36am Nov 30, 2022 11:36am
We need a breakthrough for the direction yet.
Or will sales stay the same?
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  • #710,419
  • Nov 30, 2022 11:38am Nov 30, 2022 11:38am
Took short at 50 % retracement
After booking 50$ during a one-hour evening nap in the last hour
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yes yes yes
  • #710,420
  • Nov 30, 2022 11:40am Nov 30, 2022 11:40am
Quoting Wavegarrick
{quote} Year end 1.23000, Cheers
I agree on this level bro. However, I think we have untested levels on lower TF.
As I type this, I think we are about to make a new low or even hit 1.18649 for today.

That being said, I will be looking to join LONGS from next week
Just my view
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