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Cable Update (GBPUSD)

  • #711,121
  • Dec 2, 2022 8:21am Dec 2, 2022 8:21am
closed both trades
be a thinker before being a reacter
  • #711,122
  • Dec 2, 2022 8:22am Dec 2, 2022 8:22am
GU

Follow the structure.
Attached Image (click to enlarge)
Click to Enlarge Name: gu 154.jpg Size: 132 KB
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #711,123
  • Dec 2, 2022 8:23am Dec 2, 2022 8:23am
The weekly is the opposite of screaming retrace
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #711,124
  • Dec 2, 2022 8:25am Dec 2, 2022 8:25am
The NFP data should have had a bigger impact I think. We are now over 122 again. 121-120 should have been easy targets. Oh well I’m still shorting at 12167
Insane in the Brain..
  • #711,125
  • Dec 2, 2022 8:27am Dec 2, 2022 8:27am
need price to trade over 1.23 for bull action. looks barish on monthly chart
be a thinker before being a reacter
  • #711,126
  • Dec 2, 2022 8:28am Dec 2, 2022 8:28am
Quoting BeeTogether
The NFP data should have had a bigger impact I think. We are now over 122 again. 121-120 should have been easy targets. Oh well I’m still shorting at 12167
look like its just luring buyers
  • #711,127
  • Dec 2, 2022 8:32am Dec 2, 2022 8:32am
Quoting Indigo45
{quote} Besides NFP, USD has lost its strength. Now USD will remain bearish. GU may retest today's bottom, then will move up. No strong fundamentals to support $. NFP is lower that previous, though better that expected. this thing moves price back within hours. Please refer to my previous post. https://www.forexfactory.com/thread/...1#post14242621
@Indigo45

USD is consolidating as traders now must decide if the December FED rate hike will be 0.5% or 0.75%.

WHY?

REVIEW: The FED looks at 3 areas of inflation:

1. ENERGY - coming down

2. HOUSING/RENT - still high, prices on houses need to fall by 20% or more but housing market is cooling (This is a sticky point because there is a housing shortage in USA and higher rates will limit supply causing price stability instead of allowing it to fall)

3. WAGES - WAY TOO HIGH. There are too many jobs and not enough workers so business throw $ to hire people.

This NFP indicates that the USA economy is stronger than thought and the FED will not stop raising rates until the USA tanks and that will only come from higher rates.
...because you never know - until you do!
  • #711,128
  • Dec 2, 2022 8:52am Dec 2, 2022 8:52am
Adding to my shorts
  • #711,129
  • Dec 2, 2022 9:05am Dec 2, 2022 9:05am
Quoting Houtbay
Adding to my shorts
i will add to shorts for gbpusd when sp500 hit 4055
i think will drop under 4000 from there
  • #711,130
  • Dec 2, 2022 9:07am Dec 2, 2022 9:07am
Quoting fxsport
{quote} @Indigo45 USD is consolidating as traders now must decide if the December FED rate hike will be 0.5% or 0.75%. WHY? REVIEW: The FED looks at 3 areas of inflation: 1. ENERGY - coming down 2. HOUSING/RENT - still high, prices on houses need to fall by 20% or more but housing market is cooling (This is a sticky point because there is a housing shortage in USA and higher rates will limit supply causing price stability instead of allowing it to fall) 3. WAGES - WAY TOO HIGH. There are too many jobs and not enough workers so business throw $ to...
Thanks for your inputs, I am keenly observing fundamentals since Feb.
If you have attended last federal session on youtube, Powel said that now it is time to decrease the pace of rates hikes. and Most of the officials are saying that now it is time to slow the pace of rates hikes as inflation is peeked now.

Energy concerns are to UK an Europe, not seriously to US.
That is the reason, USD Index is deemed to be peaked and hence return of USD.
Regards
  • #711,131
  • Dec 2, 2022 9:09am Dec 2, 2022 9:09am
Quoting Indigo45
This is how I trade NFP.{image}
EU Price is going to retest the BOTTOM. Cheers. Get Ready to go LONG..
  • #711,132
  • Dec 2, 2022 9:21am Dec 2, 2022 9:21am
Calculated short, because:
1. It's where EMA10 + H1 (blue line) + S acting as R (pink line)
2. residual news effect

TP : 2176 / red line, est 42 pips
or EXIT at close of 18:00 candle
SL : candle bar close ABOVE pink, est 18 pips
Attached Image (click to enlarge)
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  • #711,133
  • Dec 2, 2022 9:24am Dec 2, 2022 9:24am
Quoting Indigo45
{quote} EU Price is going to retest the BOTTOM. Cheers. Get Ready to go LONG..
what bottom are you reffering to, please?
0.94xx?
  • #711,134
  • Dec 2, 2022 9:24am Dec 2, 2022 9:24am
Quoting yelena
Calculated short, because: 1. It's where EMA10 + H1 (blue line) + S acting as R (pink line) 2. residual news effect TP : 2176 / red line, est 42 pips or EXIT at close of 18:00 candle SL : candle bar close ABOVE pink, est 18 pips {image}
Plus price met Asian low and well react.

waiting for price consolidate on point of interest again.

1.2105-1.215 will be nice first
  • #711,135
  • Dec 2, 2022 9:32am Dec 2, 2022 9:32am
Quoting Whale
{quote} Plus price met Asian low and well react. waiting for price consolidate on point of interest again. 1.2105-1.215 will be nice first
1210 will be a very good area for either a bounce up or another drop to below 120. But first we need to see a close lower than 122
Insane in the Brain..
  • #711,136
  • Dec 2, 2022 9:35am Dec 2, 2022 9:35am
Quoting BeeTogether
{quote} 1210 will be a very good area for either a bounce up or another drop to below 120.
yap, but its Friday and the price will trick everyone is trading LTF. So im out for now.
  • #711,137
  • Dec 2, 2022 9:38am Dec 2, 2022 9:38am
Quoting BeeTogether
{quote} 1210 will be a very good area for either a bounce up or another drop to below 120. But first we need to see a close lower than 122
Right now neither of them looks like it wants to go anywhere!
  • #711,138
  • Dec 2, 2022 9:43am Dec 2, 2022 9:43am
Quoting Fishbones
{quote} what bottom are you reffering to, please? 0.94xx?
Attached Image (click to enlarge)
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  • #711,139
  • Dec 2, 2022 9:45am Dec 2, 2022 9:45am
Quoting dantpm
{quote} Right now neither of them looks like it wants to go anywhere!
Yes now rest of the NY session, price will be showing dormant type behavior... this happens on Fridays after big turbulence (volatility).
  • #711,140
  • Dec 2, 2022 9:50am Dec 2, 2022 9:50am
Right got my feet up, will check where my short is later
Insane in the Brain..
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