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Cable Update (GBPUSD)

  • #714,521
  • Dec 14, 2022 11:50pm Dec 14, 2022 11:50pm
Ok On the Other Account of mine I Have this Setup

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Charts are UJ Top EJ Bottom
Timeframe H4

For EJ to reach my Target EURUSD should appreciate at ECB
Targets for EJ are 145.137
Targets for UJ are 137.024

I expect them to Hit Soon
Shekh In Desert
  • #714,522
  • Dec 14, 2022 11:52pm Dec 14, 2022 11:52pm
If we stay above S...long

usindex - R - 103.950
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Trendlines H1,H4, SMC
  • #714,523
  • Dec 14, 2022 11:56pm Dec 14, 2022 11:56pm
Buyers came in rather aggressively, we will see who will control this zone and start from here.

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The market hides a perfect geometry.
  • #714,524
  • Dec 15, 2022 12:05am Dec 15, 2022 12:05am
Waiting to go short at 1.24
  • #714,525
  • Dec 15, 2022 12:21am Dec 15, 2022 12:21am
Hahaa

Looks Juicy on a single day

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Hahaaa

Shekh In Desert
  • #714,526
  • Dec 15, 2022 12:44am Dec 15, 2022 12:44am
Quoting FulMargnAlch
Buyers came in rather aggressively, we will see who will control this zone and start from here. {image}
Looks like buyers were really voracious, I wonder when will sellers defend their control.
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The market hides a perfect geometry.
  • #714,527
  • Dec 15, 2022 12:56am Dec 15, 2022 12:56am
Quoting FulMargnAlch
{quote} Looks like buyers were really voracious, I wonder when will sellers defend their control. {image}

Yeah they look really voracious

I Have been at 1.2400 Buy entry with BE
I Have been at 1.2400 Short but reversed back I think at around BE too
Now I am in Shrt again but its turned will take BE
Lon g for Long will work for sure

5 minutes till 4hrs complete
Shekh In Desert
  • #714,528
  • Dec 15, 2022 12:56am Dec 15, 2022 12:56am
It's been a while since I last posted on this thread.

Cable may hit a ceiling for now. I had earlier long this pair, both for a short period (massively, from 1.11 to 1.17-ish), and also long term (1.068 on the way up, trades still open). It's getting a bit risky now to long this pair, or any pair on GBP-crosses. That's just my view.

Now, I've been more inclined to short the Pound, particularly against far east currencies, notably the yen. I had open this trade set up a while ago, here, and added more positions to it since.

Let's not getting to ahead of myself here. Cable might attempt 1.27. It may, it may not. That all depend on how Bailey sets the stage for next couple of weeks. I'm not surprise there'll be two, or even three, members of MPC voting for just 25 bps hike this time around. Following the footstep set by BOC and US Fed, BOE might be looking at slowing down their rate hikes, despite inflation going through the roof, and remained stubbornly high compared to US and Canada. Unlike solid labour market in the US, economic fundamentals in UK aren't strong so to speak.

Earlier this month, my target for GBPJPY was around 163. That is still on. As a matter of fact, a more dovish Bailey would ideally push the pair down, Cable included. I'm now looking at a potential dip toward 159, before deciding if I want to stay the course to 152-155 levels. Markets usually responded negatively to the pound in the past during MPC press conferences. Powell's speech yesterday was rather hawkish, given that he repeatedly said "it was premature to loosen policy" and that their "job was not done". While the Fed can continue hiking comfortably into 5.5%, BOE may want to aggressively slow down, and even stop at less than 4%.
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  • #714,529
  • Dec 15, 2022 1:00am Dec 15, 2022 1:00am
Quoting ToSatisfy
{quote} Yeah they look really voracious I Have been at 1.2400 Buy entry with BE I Have been at 1.2400 Short but reversed back I think at around BE too Now I am in Shrt again but its turned will take BE Lon g for Long will work for sure 5 minutes till 4hrs complete
Hmmm. I too set BE because gets getting volatile.
The market hides a perfect geometry.
  • #714,530
  • Dec 15, 2022 1:09am Dec 15, 2022 1:09am
There might be a very strong sell off if today's low is taken out.
  • #714,531
  • Dec 15, 2022 1:11am Dec 15, 2022 1:11am
Quoting Indigo45
{quote} 0.50 BP rate increase and Dovish Federal is already priced in. What will move the market is: Either rate increase is 0.75 BPs Terminal Rate is increased or Decreased. In Presser, Dovish stance is expected because Jobs data is weakening and CPI is also reversed from its peak in two consecutive months (though mainly due to Oil Prices). I expect volatility but in neither direction, means price will fluctuate up and down and keep in range of upto 50-80 Pips. This is my analyses, may be wrong. (Based on my observation on fundamentals for more...
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So My Analysis on Federal Presser was Perfect. This is based on "Observing the Fundamentals and their impact on Price" since almost an year.

Regards,
Kashif
  • #714,532
  • Dec 15, 2022 1:12am Dec 15, 2022 1:12am
Added transaction volume to the candles. Right now it suggests that volume is picking up on the recent downward candles. Just a little more information.
  • #714,533
  • Dec 15, 2022 1:16am Dec 15, 2022 1:16am
Quoting cchin
It's been a while since I last posted on this thread. Cable may hit a ceiling for now. I had earlier long this pair, both for a short period (massively, from 1.11 to 1.17-ish), and also long term (1.068 on the way up, trades still open). It's getting a bit risky now to long this pair, or any pair on GBP-crosses. That's just my view. Now, I've been more inclined to short the Pound, particularly against far east currencies, notably the yen. I had open this trade set up a while ago, here,...
You are very right, and this is time to take deeper correction for couple of weeks. USD is not that weaker as it is oversold and UK is going to face on going energy and inflation crises this winter. Cable was up bcoz of temporary USD Weakness.

Yes it is clear ceiling for cable.
  • #714,534
  • Dec 15, 2022 1:21am Dec 15, 2022 1:21am
Quoting Indigo45
{quote} You are very right, and this is time to take deeper correction for couple of weeks. USD is not that weaker as it is oversold and UK is going to face on going energy and inflation crises this winter. Cable was up bcoz of temporary USD Weakness. Yes it is clear ceiling for cable.
Cable has also benefited from the recent change in gov't, there are indications that it might actually start working for the country instead of against it. Just indications so far! It might have been premature?
  • #714,535
  • Dec 15, 2022 1:34am Dec 15, 2022 1:34am
Quoting dantpm
{quote} Cable has also benefited from the recent change in gov't, there are indications that it might actually start working for the country instead of against it. Just indications so far! It might have been premature?
Yes, But feeling of traders is not that in the favor bcoz of failure of Liz Truss.
  • #714,536
  • Dec 15, 2022 1:42am Dec 15, 2022 1:42am
Oh oh, looks like I am on the wrong side here, might as well set BE just in case the drama kicks in. PA seems odd here.

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The market hides a perfect geometry.
  • #714,537
  • Dec 15, 2022 1:45am Dec 15, 2022 1:45am
My view for Today is BOE rate take GU up, then ECB rate Take EU => GU down?
More time in the market, does not mean you trade better!
  • #714,538
  • Dec 15, 2022 1:46am Dec 15, 2022 1:46am
Quoting TheWolf
{quote} B has to come, but for C I'm not so sure of. I don't see the fundamental reason for C anymore..
Unless wave B fails, there will be a wave C continuation . What is not known is how far up it goes before it ends.
To free Gazans of Hamas, use whatever it takes.
  • #714,539
  • Dec 15, 2022 1:47am Dec 15, 2022 1:47am
Quoting FulMargnAlch
Oh oh, looks like I am on the wrong side here, might as well set BE just in case the drama kicks in. PA seems odd here. {image}
Looks like we got a SBR situation in here.
The market hides a perfect geometry.
  • #714,540
  • Dec 15, 2022 1:50am Dec 15, 2022 1:50am
Quoting Fardeen1209
My view for Today is BOE rate take GU up, then ECB rate Take EU => GU down?
There are several ways that the BOE could boost GU. Rates and treasuries are the most common. What bank rate are you suggesting? What statements are you expecting?
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