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Cable Update (GBPUSD)

  • #710,781
  • Dec 1, 2022 8:02am Dec 1, 2022 8:02am
Quoting Pat Chiko
{quote} GU Partial closed.{image}
GU

Partial TP
tighten SL.
Nett positive.
Attached Image (click to enlarge)
Click to Enlarge Name: gu 138.jpg Size: 154 KB
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #710,782
  • Dec 1, 2022 8:03am Dec 1, 2022 8:03am
Quoting dantpm
{quote} Long term yes but isn't this all part of re-balancing the post-covid economy? If it wasn't sustainable for the businesses in question, they wouldn't be doing it!
Well your comment shows that you are NOT a business owner (or you don't have employees). The "re-balancing" that you are talking about is this:

WAGES are too high

HOUSING PRICES are too high

ENERGY PRICES are too high

That is what the FED is fighting. That is why the FED is raising rates. The FED MUST destroy the economy in order to "re-balance" and return order to the insanity of the current work market.
...because you never know - until you do!
  • #710,783
  • Dec 1, 2022 8:03am Dec 1, 2022 8:03am
Short term scalp:

Attached Image (click to enlarge)
Click to Enlarge Name: GBP_USD_20221201_09.00.png Size: 26 KB
...because you never know - until you do!
  • #710,784
  • Dec 1, 2022 8:04am Dec 1, 2022 8:04am
Quoting donfriday
{quote} just forget 1.16 in this Q4

dont tell me what to draw on my chart.
  • #710,785
  • Dec 1, 2022 8:06am Dec 1, 2022 8:06am
Quoting Whale
{quote} dont tell me what to draw on my chart.

i didnt notice u drew something

did you draw anything?
MY OPINION NOT FINANCIAL ADVISE
  • #710,786
  • Dec 1, 2022 8:06am Dec 1, 2022 8:06am
Quoting Whale
{quote} dont tell me what to draw on my chart.
COT: The precious data ignored
  • #710,787
  • Dec 1, 2022 8:07am Dec 1, 2022 8:07am
Quoting donfriday
{quote} i didnt notice u drew something did you draw anything?
good day, i dont play this game.
  • #710,788
  • Dec 1, 2022 8:08am Dec 1, 2022 8:08am
Quoting kuroro001
{quote} Thing is Powell is a clown Probably working for Blackrock & co, and not the other way around Or he wants Santa rally ? Trap buyers? Then big drop ? #vix suggest risk off should hit the market anythime soon
Respectfully I disagree.

Powell is head of the FED and if the stock market crashes so be it...that is NOT the purpose of the FED.

The stock market/equity traders are creating their own mess.

Powell and the FED have been VERY CLEAR - rates are continuing to increase and will remain elevated in 2023.

Equity traders are the problem; supply contraints are the problem (we need more oil, more houses) and the FED can't control that.
...because you never know - until you do!
  • #710,789
  • Dec 1, 2022 8:12am Dec 1, 2022 8:12am
Quoting dantpm
{quote} Long term yes but isn't this all part of re-balancing the post-covid economy? If it wasn't sustainable for the businesses in question, they wouldn't be doing it!
Businesses do unsustainable things all the time.
  • #710,790
  • Dec 1, 2022 8:12am Dec 1, 2022 8:12am
Quoting fxsport
{quote} Well your comment shows that you are NOT a business owner (or you don't have employees). The "re-balancing" that you are talking about is this: WAGES are too high HOUSING PRICES are too high ENERGY PRICES are too high That is what the FED is fighting. That is why the FED is raising rates. The FED MUST destroy the economy in order to "re-balance" and return order to the insanity of the current work market.
You are clearly confused.
Wages are the min. amount required to get workers out to jobs. Companies have to decide on how to deal with them. The gov't created the Covid19 lock-downs that caused this not the employees and not the companies.
Same with housing.
Energy prices in Europe are the result of European incompetence in planning their energy markets. EU energy prices are already causing a mass exodus of businesses from the EU! Energy prices around the world outside of the EU are typically falling right now.
Destruction doesn't re-balance anything, it just causes more problems!
  • #710,791
  • Dec 1, 2022 8:13am Dec 1, 2022 8:13am
Quoting Whale
{quote} good day, i dont play this game.

Navk play games to earn money..
MY OPINION NOT FINANCIAL ADVISE
  • #710,792
  • Dec 1, 2022 8:13am Dec 1, 2022 8:13am
Quoting MrFanciful
{quote} Businesses do unsustainable things all the time.
Not for very long they don't
  • #710,793
  • Dec 1, 2022 8:25am Dec 1, 2022 8:25am
Now waiting for GU to head back below 1.21 to clear late longs
COT: The precious data ignored
  • #710,794
  • Dec 1, 2022 8:28am Dec 1, 2022 8:28am
Today was overtrading.
The profit and loss has returned to scratch, so I will take a break.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD(H1)_2022.12.01_232232.gif Size: 98 KB
  • #710,795
  • Dec 1, 2022 8:30am Dec 1, 2022 8:30am
Quoting JayBag
I guess the DT is too obvious and MM knows a lot of us will be shorting it there. How about a few FO before going in? 1.22565 area looks like a reasonable area. I will be waiting for this handle to attempt short today. Currently busy with another pair Take Care Gang
I have just SHORTED this handle.
GU better come correct and hand me back my pips

Anyway, will see where it goes from here..
Considering the new level we broke, I would target 1.21402 then if it breaks, the final target will be 1.179894
  • #710,796
  • Dec 1, 2022 8:36am Dec 1, 2022 8:36am
Quoting JayBag
{quote} I have just SHORTED this handle. GU better come correct and hand me back my pips Anyway, will see where it goes from here.. Considering the new level we broke, I would target 1.21402 then if it breaks, the final target will be 1.179894
Could return to 1.216x
COT: The precious data ignored
  • #710,797
  • Dec 1, 2022 8:36am Dec 1, 2022 8:36am
Quoting JayBag
{quote} I have just SHORTED this handle. GU better come correct and hand me back my pips Anyway, will see where it goes from here.. Considering the new level we broke, I would target 1.21402 then if it breaks, the final target will be 1.179894
PMI came in low last month. Can't remember how the market handled it. I expect it will be less than 50 again this month, possibly around the same level. No guarantee that it will be handled the same way but possibly.
  • #710,798
  • Dec 1, 2022 8:37am Dec 1, 2022 8:37am
Quoting kuroro001
{quote} Could return to 1.216x
That would be the previous (too obvious DT).. Even that will be fine for me
  • #710,799
  • Dec 1, 2022 8:37am Dec 1, 2022 8:37am
Quoting Theoak
{quote} Looking for a short if it sets-up. This is a cocky shout and will only put half load in!!!
Short in at 1.2263
Don't trade what you think. Just what you see!!!
  • #710,800
  • Dec 1, 2022 8:38am Dec 1, 2022 8:38am
Quoting dantpm
{quote} PMI came in low last month. Can't remember how the market handled it. I expect it will be less than 50 again this month, possibly around the same level. No guarantee that it will be handled the same way but possibly.
I hope it helps some of us who are short. That's all that will matter right now lol.
But anyway, let's see how they play it this time around

Cheers
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