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Cable Update (GBPUSD)

  • #711,681
  • Dec 6, 2022 5:50am Dec 6, 2022 5:50am
Quoting DrDave
{quote} Over 90% of my trades are on GBPUSD.
You said you use some fractals.. have you find the most promising TF so far?
  • #711,682
  • Dec 6, 2022 5:51am Dec 6, 2022 5:51am
i'm not interested in buying anymore
ideally it gather strength here to go down and break weekly pivot
COT: The precious data ignored
  • #711,683
  • Dec 6, 2022 5:52am Dec 6, 2022 5:52am
GBP/USD 3Minute Timeframe

Sell might be coming for a Range Trade?

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Dont be upset with the result you didnt get from the work you didnt do
  • #711,684
  • Dec 6, 2022 5:52am Dec 6, 2022 5:52am
Quoting DrDave
{quote} Consider H1. It is in a state that it can end its current down swing and begin moving up, which would also stop H4's down movement. That said, not even M1 has made a convincing presentation that H1 will end its down swing there. But at the same time M1 has not shown conviction at moving further down, either.
Thank you,
I,m Still Bearish
GBPUSD stillin a Range
2 small longs 2x 0.30 Lots

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All Assets NAS100 GLD BTC AUS JPY GBP All Time Return: 18.2%
  • #711,685
  • Dec 6, 2022 5:52am Dec 6, 2022 5:52am
Quoting kuroro001
i'm not interested in buying anymore ideally it gather strength here to go down and break weekly pivot
Have a feeling we won't see any serious moves until CPI. If we do, then Bears are the ones to bet on.
  • #711,686
  • Dec 6, 2022 5:55am Dec 6, 2022 5:55am
a problem for the cable was the low DOW, eu was better, from 13.28 it was better for the cable too
  • #711,687
  • Dec 6, 2022 5:56am Dec 6, 2022 5:56am
Quoting TheWolf
{quote} Have a feeling we won't see any serious moves until CPI. If we do, then Bears are the ones to bet on.
Or if serious move one way...CPI will go opposite strongly like last month

PPI end of the week should give us some interesting move though
COT: The precious data ignored
  • #711,688
  • Dec 6, 2022 6:02am Dec 6, 2022 6:02am
Quoting TheWolf
{quote} Have a feeling we won't see any serious moves until CPI. If we do, then Bears are the ones to bet on.
What CPI data are you expecting?
  • #711,689
  • Dec 6, 2022 6:10am Dec 6, 2022 6:10am
Quoting dantpm
{quote} What CPI data are you expecting?
Lower than forecast.
USD will drop on CPI release, BUT I expect then USD to turn everything around when rate hikes start to take place.

We have that energy crisis just behind our backs waiting for a moment to strike. Consequently, USD will deliver its second Monthly leg down in my opinion. There has to be that second leg down. Then God knows what to expect.

I'll be holding USD positions until a proper Weekly retracement takes place and then I'm out.
  • #711,690
  • Dec 6, 2022 6:13am Dec 6, 2022 6:13am
Preparing for NY sell
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  • #711,691
  • Dec 6, 2022 6:14am Dec 6, 2022 6:14am
Quoting TheWolf
{quote} Lower than forecast. USD will drop on CPI release, BUT I expect then USD to turn everything around when rate hikes start to take place. We have that energy crisis just behind our backs waiting for a moment to strike. Consequently, USD will deliver its second Monthly leg down in my opinion. There has to be that second leg down. Then God knows what to expect.
There isn't any planned CPI data published for the US this week!
  • #711,692
  • Dec 6, 2022 6:16am Dec 6, 2022 6:16am
Quoting TheWolf
{quote} You said you use some fractals.. have you find the most promising TF so far?
There is no such thing "the most promising TF", assuming you mean some selected fixed TF. Financial time series are fractal-like in nature. So whatever patterns you see on one TF occur in every TF. The edge is in determining which TF is currently "in control" of the direction, and then which smaller TF to focus the entry on. This focus TF is "the most promising TF" at the moment.

Both the control and focus TFs are dynamic. If only 1 or 2 TFs were used, then just as a stopped clocked is correct SOMETIMES (2 hours out of every 24 hours), using those few TFs will indeed yield positive results SOMETIMES, because most of the time, none of the selected TFs will be the focus TF, leading to higher probability of failed trades. But by examining MANY TFs and locating the focus TF, the probability of entering in the wrong direction is substantially reduced.
To free Gazans of Hamas, use whatever it takes.
  • #711,693
  • Dec 6, 2022 6:21am Dec 6, 2022 6:21am
Quoting dantpm
{quote} There isn't any planned CPI data published for the US this week!
Yeah I know! We'll get forecast on Friday probably for CPI next Week.
  • #711,694
  • Dec 6, 2022 6:23am Dec 6, 2022 6:23am
Quoting TheWolf
{quote} Lower than forecast. USD will drop on CPI release, BUT I expect then USD to turn everything around when rate hikes start to take place. We have that energy crisis just behind our backs waiting for a moment to strike. Consequently, USD will deliver its second Monthly leg down in my opinion. There has to be that second leg down. Then God knows what to expect. I'll be holding USD positions until a proper Weekly retracement takes place and then I'm out.
I'll be holding USD positions until a proper Weekly retracement takes place and then I'm out
This current Weekly upswing IS a proper retracement in its down trend. So could you please explain in a bit more detail what you mean?
To free Gazans of Hamas, use whatever it takes.
  • #711,695
  • Dec 6, 2022 6:30am Dec 6, 2022 6:30am
Quoting TheWolf
{quote} Lower than forecast. USD will drop on CPI release, BUT I expect then USD to turn everything around when rate hikes start to take place. We have that energy crisis just behind our backs waiting for a moment to strike. Consequently, USD will deliver its second Monthly leg down in my opinion. There has to be that second leg down. Then God knows what to expect. I'll be holding USD positions until a proper Weekly retracement takes place and then I'm out.
I'm basically using psychology for Feds rate hike next week. Market prepares to sell USD, but it might not be as straight forward as some would think, as it never is. I'll just say, if I don't see PROPER retracement, then I'll be confused. Did USD Bulls just fade away suddenly? I don't think so..

In the background Bulls are waiting patiently..

I was saying when we start to believe reversal is taking place rather than correction, that's when a lot of people will be caught off guard by the sudden return of USD Bulls.
  • #711,696
  • Edited 6:55am Dec 6, 2022 6:33am | Edited 6:55am
Quoting TheWolf
{quote} You said you use some fractals.. have you find the most promising TF so far?
what is ....TF ?

ok, I found, time frame !
  • #711,697
  • Dec 6, 2022 6:34am Dec 6, 2022 6:34am
Quoting DrDave
{quote} I'll be holding USD positions until a proper Weekly retracement takes place and then I'm out This current Weekly upswing IS a proper retracement in its down trend. So could you please explain in a bit more detail what you mean?
We had a good Weekly Bull run. When price retraces around 50% of this Bull run then I'm out. I think we will have another Weekly leg up after retracement takes place. After the second leg up on Weekly chart, then I think second leg down on Monthly Chart will take place.
  • #711,698
  • Dec 6, 2022 6:36am Dec 6, 2022 6:36am
Current Rate : 1.22361

Quick review of Market as trading time is coming near less than an hour .

Bias is bearish 2 reasons
1. Camarilla PA shows Bearish Setup when Yesterday's Trading Activity is recorded (HLC)
2. 'Bella's Price Momentum' is also giving out 'negative readings' -0.73

I have marked H3 at 1.22424 and i will be looking for shorting opportunities near this level . I strongly believe i will receive a "Short Signal" from System.

-Bella's Blue
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Goddess of Thunder..
  • #711,699
  • Dec 6, 2022 6:38am Dec 6, 2022 6:38am
Quoting mysterio
Preparing for NY sell {image}
hello mate ! Welcome back!
Insane in the Brain..
  • #711,700
  • Dec 6, 2022 6:42am Dec 6, 2022 6:42am
Quoting BeeTogether
{quote} hello mate ! Welcome back!
Thanks man, how's it going?

I've been trading away the whole time in my own little discord group but gonna hang back here for a while

Anyone in for an NY sell ??

It is tempting here at the pivot, there's some confluence, but i'm waiting for higher. I think if we get it from the spot I mentioned, we can break last Fridays low
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Mbaweh
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