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Cable Update (GBPUSD)

  • #713,521
  • Dec 12, 2022 6:12am Dec 12, 2022 6:12am
Quoting DrDave
{quote} When someone asks me, what do you think about GBP/USD? Really, why do you think that it is important to have an opinion about it? What's wrong with your answer that you have a system that presents signals, so no need to formulate an opinion?
Well, if I say I'm trading for life for example, but when someone asks me what I do, I reply: "well, I follow the system dude.."

I want to be able to explain what Fed is, what inflation is, why does JPY isn't appreciating even though there's a war going on and Yen is considered a safe-haven currency.. etc..

I am highly interested in this and want to know almost everything. When someone asks me anything, I want to know at least something. It's because I want to know, not to impress others even though it sounds like it..

I want to know the job I'm working on or I won't bother at all wasting that much time on it.

Just my point of view.. I think I value "knowledge" more than paper.
I have that mentality where I think I don't deserve success if I didn't put an effort in it.
  • #713,522
  • Dec 12, 2022 6:13am Dec 12, 2022 6:13am
Quoting TheWolf
{quote} Aha.. nice! Well, Summer only.. the rest of Months not as spectular.. it's cold yeah. Not a minus, but not very far from it. I guess, GL next time!? Haha.. maybe you bump into one of those Miss'es of Croatia, who knows..
Wish you all the best Bro.
And hope Santa do come early this year for Chirstmas. (giving a lot of free pips)

I really enjoy trading now, by just waiting for great trader to give good signal.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #713,523
  • Dec 12, 2022 6:15am Dec 12, 2022 6:15am
Quoting DragonT
I believe the further movement will be still bullish. I do not see any prerequisites for a sharp drop in the future.
You need to present a time range for "future". 10 seconds from "now" is in the future. So are 10 hours, 10 days, 10 years.

I see the multi-month to yearly TFs are in big down swings. The Monthly and weekly up moves are just a rally inside of these bigger TFs.

H4 through W1 are all due or overdue to drop. But take note that on the Monthly TF, even a drop of the W1 is expected to be ONLY a pullback that will be followed by an up continuation to take the Monthly swing even higher. And only after this "bigger event" of Monthly going higher will come a down continuation.

so currently, I see the upswing that has propagated through H4 to be only a strong rally that is NEEDED in order for price to reach a a level that it is not of value to buyers anymore to buy.

So I am looking at M1 to get into a convincing down trend to even see a POSSIBLE start of the return down.
To free Gazans of Hamas, use whatever it takes.
  • #713,524
  • Dec 12, 2022 6:16am Dec 12, 2022 6:16am
Quoting Robinhood1
{quote} Carefull what you write, I learnt this from you, whenever posting a confirmation price turns around Never had thought about it but been observing and donīt ask me why but it tends to happen
Often when confirmation comes, there could be a slight retracement, BUT price will continue up way more often than the other way.

I know what you're saying.. those times were with 15M Confirmations and unfortunately, only later did I find out that confirmations on lower TF's aren't as accurate as the higher TF's. Hourly and above are good, 30M maybe, but below that, only for 10-15 pips, not more..

Also, when there are no news, one should be careful with those signals, because as I said, Range is the killer for this system. If you can recognize the Range on time and play when there is a very low possibility of one happening (when there are High-Impact News), the system is the killer then.
  • #713,525
  • Dec 12, 2022 6:23am Dec 12, 2022 6:23am
The dollar index is in a possible rebound zone, if the GU is confirmed it will continue to fall.
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  • #713,526
  • Dec 12, 2022 6:24am Dec 12, 2022 6:24am
Quoting DrDave
{quote} You need to present a time range for "future". 10 seconds from "now" is in the future. So are 10 hours, 10 days, 10 years. I see the multi-month to yearly TFs are in big down swings. The Monthly and weekly up moves are just a rally inside of these bigger TFs. H4 through W1 are all due or overdue to drop. But take note that on the Monthly TF, even a drop of the W1 is expected to be ONLY a pullback that will be followed by an up continuation to take the Monthly swing even higher. And only after this "bigger event" of Monthly going higher will...
I understand what do you mean. Yes, I agree that everyone has its own "future" interpretation.
Here, by the term "future" I meant the next week.
  • #713,527
  • Dec 12, 2022 6:25am Dec 12, 2022 6:25am
Quoting PatienceFx
{quote} {image}
Great.
Intraday only.
  • #713,528
  • Dec 12, 2022 6:26am Dec 12, 2022 6:26am
Not feeling it at the moment out of all trades will re address later
Insane in the Brain..
  • #713,529
  • Dec 12, 2022 6:28am Dec 12, 2022 6:28am
Quoting Pat Chiko
GU Tomorrow going to be interesting day for GU with high impact data release. Projection for NY. Waiting for signal...{image}
I agree with this chart.

This is where I m planning to book profits - short trades
Intraday only.
  • #713,530
  • Dec 12, 2022 6:28am Dec 12, 2022 6:28am
Quoting jmss59
The dollar index is in a possible rebound zone, if the GU is confirmed it will continue to fall. {image}
Hope so,
But hope is not advised in forex ,
Look like dollar may be pushed to the clift beyond the clift
10000% Wannabe . -$3000 & -$4000
Gold Recovery All Time Profit: -$3,961
  • #713,531
  • Dec 12, 2022 6:29am Dec 12, 2022 6:29am
Quoting Bella.al
Initial Market Analysis Date: 12/12/2022 07:12 AM GMT Yesterday's High : 1.23218 Yesterday's Low : 1.22072 Daily Bar Bias: Moderately Bullish Bella's Price Momentum : -ve : -0.24 Pivots: L3 : 1.22231 H3: 1.22849 L4: 1.21910 H4: 1.23170 GBP/USD - 1.22217... Current Market Structure of Daily Bar is Moderately Bullish but price has taken out L3 Support and maybe looking for L4 lvl. BPM is currently pointing negative that shows possible bearish pressure at intraday level. I will allow market to settle with in the framework of the Pivots and to re-check...
Pre-Trading Market Analysis

Date: 12/12/2022
12:24 PM GMT

Yesterday's High : 1.23218
Yesterday's Low : 1.22072

Daily Bar Bias: Moderately Bullish
Bella's Price Momentum : -ve : -0.27

Pivots:
L3 : 1.22231 H3: 1.22849
L4: 1.21910 H4: 1.23170

GBP/USD - 1.22815... Cable is now trading near H3 Pivot and BPM is still recording negative -0.27 which suggests an upcoming short is in the books for me. As there is less than 1 hour left i am now getting biased for a short entry near this H3 : 1.22849 lvl.

-Bella's Blue
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Goddess of Thunder..
  • #713,532
  • Dec 12, 2022 6:35am Dec 12, 2022 6:35am
The price is still testing the 1.22932 level, I am staying out for the time being.
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  • #713,533
  • Dec 12, 2022 6:36am Dec 12, 2022 6:36am
Is sleepy time for me now, but it has been a good start to the trading week. Good luck for you NY traders, I will be back for the Uncle Frankie meeting tomorrow

Have fun

Indiara
I am neither brave nor stupid...I am just a part time trader
  • #713,534
  • Dec 12, 2022 6:40am Dec 12, 2022 6:40am
Quoting mysterio
{quote} clusterdelta using the futures volumes
Thanx !!
in wondering about yourself, you forgot what you came here to be part of
  • #713,535
  • Dec 12, 2022 6:42am Dec 12, 2022 6:42am
The big picture and scale of the task at hand.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #713,536
  • Dec 12, 2022 6:43am Dec 12, 2022 6:43am
If Christmas comes early.........


All eyes fall on US CPI and FOMC and to a slightly lesser extent BoE rate hike decision amongst a slew of data.
Winter holiday season starts from this weekend.
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The market remains confident that the Fed will raise US interest rates by 50bps on Wednesday and (barring a huge surprise within the CPI figure on Tuesday), a ‘downshift’ from 75bps of previous months.

UK economy expands more than expected, recession looms
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I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #713,537
  • Dec 12, 2022 6:43am Dec 12, 2022 6:43am
lets see if it can break back down the pivot, to go for 2225 later
COT: The precious data ignored
  • #713,538
  • Dec 12, 2022 6:44am Dec 12, 2022 6:44am
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
i took 20 pips on this trade.
Im in a new long from 2281

price is having a tough time breaking thru 2294 and i was ging to exit there and then price turned fast.
So perhaps BE or it turns back up to attack 2294 a third time.

edit: its Break Even. Wait for M5 to close beyond 2294 and then enter on the pullback for any more longs.
in wondering about yourself, you forgot what you came here to be part of
  • #713,539
  • Dec 12, 2022 6:48am Dec 12, 2022 6:48am
going for a long on AUDUSD, anyone with me i dont want to ride it alone
  • #713,540
  • Dec 12, 2022 6:49am Dec 12, 2022 6:49am
Currently at 76fib line and any continued sell could see 2140 the high is 2341 ish so we just continue to play as we see it
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