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Cable Update (GBPUSD)

  • #713,441
  • Dec 12, 2022 4:00am Dec 12, 2022 4:00am
Quoting Robinhood1
UJ has probably initiated last leg down.
Slowly slowly will fall into my arms. There is still a way to go. pacience
POSTMASTER
  • #713,442
  • Dec 12, 2022 4:06am Dec 12, 2022 4:06am
Inserted Video
POSTMASTER
  • #713,443
  • Dec 12, 2022 4:08am Dec 12, 2022 4:08am
Quoting mysterio
{quote} OK Just gonna consolidate this. I think we'll have a buy the dip situation next week then sell off later in the week. HTF, what do we see. Weekly indecision candle. IMO the wick is likely to be filled. We are in monthly supply not shown. Daily and H4 in an up trend and H1 a sideways market. DXY, Weekly indecision candle in a weak weekly demand zone. Daily and H4 in a down-trend, H1 a sideways market. Intraday I'm treating it as a range and looking at reversals but also cognizant of continuations. First i'm looking to buy the dip if it happens,...

Mysterio
would you mind telling me which Market Profile you are using? i like how easy it is to read. Mine has so many colors its confusing.
this is a pic of the one you posted
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in wondering about yourself, you forgot what you came here to be part of
  • #713,444
  • Dec 12, 2022 4:09am Dec 12, 2022 4:09am
The price is going up.. will go up for the rest of the day

IMO
Intraday only.
  • #713,445
  • Dec 12, 2022 4:10am Dec 12, 2022 4:10am
Quoting knkie
quite a lot of great traders going short so I am quite nervous about this but i am long from 2266 until 2292 hope it works out
Majority is selling.

Facts are -
According to Morgan Stanley, retail investors make up about 10% of the daily trading value of the 3,000 biggest U.S. stocks.

Research indicates that approximately 9.6 million people are trading in forex online.

Retail investors' share of total equities trading volume is now approaching 25%, up from 20% in 2020 and 10-15% the preceding decade.

As of last Tuesday (new data released tomorrow).
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  • #713,446
  • Dec 12, 2022 4:12am Dec 12, 2022 4:12am
had to widen my stop a bit which i don't like doing

i think it's just stop hunting, it keeps getting absorbed

we are on h1 demand on dxy
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  • #713,447
  • Dec 12, 2022 4:20am Dec 12, 2022 4:20am
Quoting Jolita
{quote} Majority is selling. Facts are - According to Morgan Stanley, retail investors make up about 10% of the daily trading value of the 3,000 biggest U.S. stocks. Research indicates that approximately 9.6 million people are trading in forex online. Retail investors' share of total equities trading volume is now approaching 25%, up from 20% in 2020 and 10-15% the preceding decade. As of last Tuesday (new data released tomorrow). {image}
Majority is selling

Hi Jolita. This does not mean that prices go down. Cheers
POSTMASTER
  • #713,448
  • Dec 12, 2022 4:26am Dec 12, 2022 4:26am
Quoting Robinhood1
{quote} Majority is selling Hi Jolita. This does not mean that prices go down. Cheers
I rather be on the other side of retail trader majority sentiment.

Commitment of traders as of last Tuesday has been increasing shorts. Will see what data we will habe from tomorrow.
  • #713,449
  • Dec 12, 2022 4:26am Dec 12, 2022 4:26am
Quoting mysterio
had to widen my stop a bit which i don't like doing i think it's just stop hunting, it keeps getting absorbed we are on h1 demand on dxy {image}
Can't see there being any big stops in that area? ...maybe some retail stops from short positions, moved into B/E or better after entry @/around fri hi, or even last week's 2344 hi, but institutional stops wouldn't likely be there? Who knows - it's just probabilities, and not even that sometimes, just guess work lol, but I would think 'big stops' are still above last fri hi/last week's 2344 hi for short positions?
--------------------------------------------------------------------------------------
4hr part of that prev 1hr/minor 4hr sw hi zone to fri's hi starts circa 2288 with Dly R1 @/near top of it. Top of the zone is coexistent with the dly part of the prev 1hr/4hr/dly sw hi zone that extends to that 2344 last week's hi. 2369 is Wkly R1 just above it, and Dly R2 @a/around 2380.

1hr below
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Trader with an Edge.
  • #713,450
  • Dec 12, 2022 4:37am Dec 12, 2022 4:37am
Quoting knkie
{quote} Mysterio would you mind telling me which Market Profile you are using? i like how easy it is to read. Mine has so many colors its confusing. this is a pic of the one you posted {image}
clusterdelta using the futures volumes
  • #713,451
  • Dec 12, 2022 4:41am Dec 12, 2022 4:41am
Quoting dantpm
{quote} Won't that require 'record lows' (or at least breaking recent lows) for the US$? Does that seem reasonable?
Gu it not about usd only... Pound can be strong.

Dragon eager to break last week high!
Peace Yo!
  • #713,452
  • Dec 12, 2022 4:42am Dec 12, 2022 4:42am
Quoting Indiara
I have a Buy on GU. If it struggles later on I may not let it run to the TP. It depends on the strength of the price. {image}

Trade is now protected.

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I am neither brave nor stupid...I am just a part time trader
  • #713,453
  • Dec 12, 2022 4:43am Dec 12, 2022 4:43am
Quoting aggieman01
Traders, Think of the market like a big party: 1. Invites are sent out (The Major News is Scheduled). 2. You want to arrive to the party before anyone gets there ( The Oversold or Overbought setup). 3. Guest start coming to the party when they hear the music ( When Major News is Announced). 4. Party gets out of control and cops show up everyone scatters ( Price spikes out of channels, time to get out)….{image}

Boom!!! TP hit...See you guys on the next major news...
  • #713,454
  • Dec 12, 2022 4:44am Dec 12, 2022 4:44am
I think the better than expected UK data is helping the pound today. Will be an interesting week as more data to come

maybe a short now back to 12250?
Insane in the Brain..
  • #713,455
  • Dec 12, 2022 4:45am Dec 12, 2022 4:45am
Quoting DubaiFX
{quote} Right.. GDP expected good which could help Pound hit 1.2300 again,and by that time if USD,index,is not falling I will sell there.
Damm USD index is going down I will be careful before selling 1.2275

Yes I will if I see 1.2320 with in next 2 hours.
Don't compare your Trades with Others
  • #713,456
  • Dec 12, 2022 4:46am Dec 12, 2022 4:46am
A short for scalping of 20 pips, I'm going against the trend.
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  • #713,457
  • Dec 12, 2022 4:47am Dec 12, 2022 4:47am
Shorting GJ, small lot to around 166. That was 167.95
POSTMASTER
  • #713,458
  • Dec 12, 2022 4:49am Dec 12, 2022 4:49am
...poked it's nose into 4hr part of that prev 1hr/minor 4hr sw hi zone that extends to fri 2322 hi, = prev res = pot res...1hr part begins circa 2310. 76.4% Fri hi-current dly lo move @ the current dly hi, in that zone. 10/20/50 ema crosses currently as below.

I wonder how much supply there is up to 2322 Fri hi/ 2344 Last wk hi, if tested?
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Trader with an Edge.
  • #713,459
  • Dec 12, 2022 4:55am Dec 12, 2022 4:55am
On Daily Chart, price still didn't reach the Resistance Zone in my opinion.. perhaps that wick did reach the Zone, but I don't think so.. expect the price to reach this Zone before anything else.

Then we'll see..

This is where the Resistance should lie, not lower than this..
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  • #713,460
  • Dec 12, 2022 4:55am Dec 12, 2022 4:55am
Quoting ToSatisfy
{quote} Indeed you could be Right According to my Plan also Its waning off the Sell and I have First Indications I Close my Sells here I have Buy On I am just targetting 70 Pips for now as market has played around alot I will close the Buy as per my Plans indication very first For now update is Buy Targetting 50 pips now {image}Timeframe H4
You're one of the best trader in this thread. I always follow your signal, it's sharp and precise.
Keep up the good works here. I only open chart of 10 mins, after N3, put SL, and off I go do my own things.

Quoting Pat Chiko
{quote} GU update on scalping position Some good info from Hunt of UK Economy.{image}{image}{image}
Came back after 6 hours, saw target hit. Target never moved , only my SL moved by ATR 1.5 calculate.
Thanks "ToSatisfy" for your good signal.
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NOTE:
on RSF, whoever asked me on private, please do ask openly on this thread. Let others learn too.
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