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Cable Update (GBPUSD)

  • #713,761
  • Dec 13, 2022 1:38am Dec 13, 2022 1:38am
Two thoughts.
Is this spike up simply gathering liquidity for a bigger move down?

Notice the British discrepancy between the unemployment rate and the claimant count. Either the projections are wrong or the current stats are wrong because they appear to not reflect consistent change.
  • #713,762
  • Dec 13, 2022 1:39am Dec 13, 2022 1:39am
Quoting Fardeen1209
{quote} That the hardest part in trading; is staying in your floating position no matter how hard the crowd screams.
Yes, it is!
I am neither brave nor stupid...I am just a part time trader
  • #713,763
  • Dec 13, 2022 1:39am Dec 13, 2022 1:39am
Eurgbp position has been short and waiting to go long at 0.85750
  • #713,764
  • Dec 13, 2022 1:43am Dec 13, 2022 1:43am
Price is ranging since last NY session - from 1.2250 to 1.2300 -
This LO session can break on upside but on lower side it will hard to break so wait and see going on.
No trade yet from my side.
  • #713,765
  • Dec 13, 2022 1:45am Dec 13, 2022 1:45am
Quoting dantpm
{quote} What do the colored bars on your charts represent? Is this explained someplace?
Hi, yeh sometime back in the distant past lol! They represent areas where there has been a fractal swing hi or lo - ie where there has been a recent imbalance of supply over demand (Swing hi) = potential res/rbs, [resistance becomes support,] -or- demand over supply (swing lo) = potential supp/sbr, [support becomes resistance.] The colours represent what t/f they exist on. So;

Light blue - on that t/f
Dark blue on that t/f, and tested and held as support or resistance at least once.
Light grey - the fractal swing exists on the next higher t/f also (so for 1hr, next higher t/f in this t/f combo is 4hr.)
Dark Grey - as above and has been tested and held as either supp or res at least once.
Pink - a fractal swing hi or lo on the t/f below that it is shown on - so on 1hr that means 30min for me.

The hollow zones are where the zone has been disrespected by price at least once.
-----------------------------------------------
4hr below
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Trader with an Edge.
  • #713,766
  • Dec 13, 2022 1:47am Dec 13, 2022 1:47am
i will back only tomorrow
meanwhile trading with mini lot
Attached Image(s) (click to enlarge)
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yes yes yes
  • #713,767
  • Dec 13, 2022 1:48am Dec 13, 2022 1:48am
Quoting dantpm
Two thoughts. Is this spike up simply gathering liquidity for a bigger move down? Notice the British discrepancy between the unemployment rate and the claimant count. Either the projections are wrong or the current stats are wrong because they appear to not reflect consistent change.
I think the U rate is out as expected at 3.7%, because of the Employment change 3M/3M Up by 27K vs forecast -17K while the Claimant count is also up 30.5K vs 3.5K expected. Thus, the net change in uk total labor force is not that much.

I believe these 2 are correlated, which put the Unemployment rate almost unchanged (@ 3.7%) compare to (3.6%) last month.

I not sure, need to do some research on these 2 both, probably during the weekend but just sharing what i understand today
More time in the market, does not mean you trade better!
  • #713,768
  • Dec 13, 2022 1:48am Dec 13, 2022 1:48am
Quoting Headland
{quote} Hi, yeh sometime back in the distant past lol! They represent areas where there has been a fractal swing hi or lo - ie where there has been a recent imbalance of supply over demand (Swing hi) = potential res/rbs, [resistance becomes support,] -or- demand over supply (swing lo) = potential supp/sbr, [support becomes resistance.] The colours represent what t/f they exist on. So; Light blue - on that t/f Dark blue on that t/f, and tested and held as support or resistance at least once. Light grey - the fractal swing exists on the next higher...
Why don't you link this explanation to your home page? Might save repeating it.
  • #713,769
  • Dec 13, 2022 1:54am Dec 13, 2022 1:54am
Just when one thinks the rejection is complete at that round number 2300... Mr Market is always willing to prove unbeatable.

Best to stay ready for another upward visit.
  • #713,770
  • Dec 13, 2022 1:57am Dec 13, 2022 1:57am
The pound is in a trading range. Trend is currently down
  • #713,771
  • Dec 13, 2022 1:58am Dec 13, 2022 1:58am
Hello Traders,

Here's my strategy for today. USD Major news is setting up for the Insiders. The Dollar price candles reaching near bottom of channel. Waiting for the exhaustion to set. Same as GBPUSD, need to hit upper channel then once the news drop,
Dollar will rise and GBPUSD,AUDUSD,EURUSD should drop. US30 already at top waiting on the Dollar to setup...US30 and NASDAQ should drop hard; both have positive volume which means the Institutional Traders will drop the market against retail traders then setup for FED Rate news...IMHO...Good luck!

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  • #713,772
  • Dec 13, 2022 2:01am Dec 13, 2022 2:01am
Here's my US30 chart for those trading Indices...See the inverse correlation...

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  • #713,773
  • Dec 13, 2022 2:01am Dec 13, 2022 2:01am
Quoting Lekkim
{quote} Up 1500% on live demo all pairs scalping, high risk but so far so good, still long GU https://www.myfxbook.com/portfolio/lekkim/9882117
From 100k to 2.6m in 4 days with 629 trades, 5426 pips and profit factor of 2,25
https://www.myfxbook.com/portfolio/lekkim/9882117
Attached Image
  • #713,774
  • Dec 13, 2022 2:01am Dec 13, 2022 2:01am
...price deep into a prev 1hr sw hi zone after the pullback so far, = prev res = pot rbs. Regular bearish div up to 1hr at current dly hi. 4hr still in messy uptrend, 1hr rangy-bullish right now?

1hr below
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Trader with an Edge.
  • #713,775
  • Dec 13, 2022 2:02am Dec 13, 2022 2:02am
Usdjpy trend currently up
  • #713,776
  • Dec 13, 2022 2:06am Dec 13, 2022 2:06am
Quoting Houtbay
Usdjpy trend currently up
Means good for short GU.
Peace Yo!
  • #713,777
  • Dec 13, 2022 2:11am Dec 13, 2022 2:11am
Quoting Indiara
{quote} Wow, Bella. You have tremendous patience and stamina. Beautiful! ..... maybe it's the tea?
She has the resolve to simply follow what her system is telling her.
To free Gazans of Hamas, use whatever it takes.
  • #713,778
  • Dec 13, 2022 2:13am Dec 13, 2022 2:13am
Quoting Yngwie
Market look like confuse with result Short 1.2295 SL 1.2305
Not smooth. Closed for 27 pips
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #713,779
  • Dec 13, 2022 2:14am Dec 13, 2022 2:14am
There's a half pip gap between 1.2292 and 1.2293 on the 1min. chart.
Seems irrelevant, but it's more than enough for me to be suspicious of this down trend so far.
Staying vigilant.
  • #713,780
  • Dec 13, 2022 2:15am Dec 13, 2022 2:15am
Quoting Fawad12
Hi Bella Check GBPUSD on 4 hours seems it i will not go down - i am out of trade was on bearish side but right now i am i out of any trade just checking moment.
No matter what it "seems" it will do. Her system has a direction bias, momentum gauge, and support and resistance levels. She is simply following what the system is saying, and thus far, it is not saying to give up on her short position.
To free Gazans of Hamas, use whatever it takes.
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