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Cable Update (GBPUSD)

  • #714,621
  • Dec 15, 2022 6:31am Dec 15, 2022 6:31am
I am teaming with Bears in Less than 1 Hour ... Tightening Screws of Bella's Blue

-bella
Goddess of Thunder..
  • #714,622
  • Dec 15, 2022 6:33am Dec 15, 2022 6:33am
I had some losses today, but the total is good enough.
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  • #714,623
  • Dec 15, 2022 6:36am Dec 15, 2022 6:36am
So here’s my real novice understanding ( I say novice as aside from a full time job this is more fun and I haven’t had time to invest fully) BoE raised rates 0.5 there was a hidden expectation of 0.75 but that didn’t happen and we saw a drop. The drop not too bad considering the MPC vote was quite varied from nothing to 0.75 more rises to come same as Fed yesterday. My reading is a very much stale position. GU could rise up to 124 a real possibility
Insane in the Brain..
  • #714,624
  • Dec 15, 2022 6:38am Dec 15, 2022 6:38am
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The market hides a perfect geometry.
  • #714,625
  • Dec 15, 2022 6:46am Dec 15, 2022 6:46am
Quoting BeeTogether
So here’s my real novice understanding ( I say novice as aside from a full time job this is more fun and I haven’t had time to invest fully) BoE raised rates 0.5 there was a hidden expectation of 0.75 but that didn’t happen and we saw a drop. The drop not too bad considering the MPC vote was quite varied from nothing to 0.75 more rises to come same as Fed yesterday. My reading is a very much stale position. GU could rise up to 124 a real possibility
That is doubtless one interpretation of the fundamentals surrounding this. There will be others. I often wonder whether as technical traders it does us any good understanding/trying to understand the fundies lol! We are probably better off being clueless and just the following price!?
Trader with an Edge.
  • #714,626
  • Dec 15, 2022 6:49am Dec 15, 2022 6:49am
Quoting Headland
{quote} That is doubtless one interpretation of the fundamentals surrounding this. There will be others. I often wonder whether as technical traders it does us any good understanding/trying to understand the fundies lol! We are probably better off being clueless and just the following price!?
So true! It can be a real minefield
Insane in the Brain..
  • #714,627
  • Dec 15, 2022 6:49am Dec 15, 2022 6:49am
Quoting Headland
{quote} That is doubtless one interpretation of the fundamentals surrounding this. There will be others. I often wonder whether as technical traders it does us any good understanding/trying to understand the fundies lol! We are probably better off being clueless and just the following price!?
IMO, I honestly think we are better off without fundis. I mostly avoid taking trades before news because they mess up charts with whipsaws and the like.
  • #714,628
  • Dec 15, 2022 6:59am Dec 15, 2022 6:59am
Hit me baby one more time
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yes yes yes
  • #714,629
  • Dec 15, 2022 7:00am Dec 15, 2022 7:00am
I will expect at some point (i guess next year) for the pound to be inside 1.08/1.13 range, before breaking out one way and go one sided

We'll see
COT: The precious data ignored
  • #714,630
  • Dec 15, 2022 7:00am Dec 15, 2022 7:00am
Long at 12313
Insane in the Brain..
  • #714,631
  • Dec 15, 2022 7:06am Dec 15, 2022 7:06am
Short GBPUSD:1.23077
S/L:1.23321
T/P:1.20192

Bella's Resistance:1.23277

-Bella's Blue
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Goddess of Thunder..
  • #714,632
  • Dec 15, 2022 7:06am Dec 15, 2022 7:06am
Quoting DubaiFX
{quote} Waoo it Actually hit 1.2300 mostly because of USD Index picked up Heat. But still we got BOE to make a Move. It could test 1.2380-1.2390 that is where I will think of Selling if price holder in 15m and 30m candle. Then again 1.2260 this time. Honestly I hope it to get to 1.24 again for me to sell. But looking at USD index as I mention yesterday 103.70 above on 1H close was needed it didnt today it did so 104.40 is possible. That will mean 1.2260 or lower for Pound IF BOE didn't gave us Surprise.
My hope was Just a Hope so i Went With GBPAUD and GBPJPY both Dropped and Gave me a Very Nice Profit Expected it as i said before, if no Surprise then Pound will Drop and it did,
i do have a Question how my Sell .12285 got hit i don't see any chart going that Low..???

its time to SEll EURJPY i am Selling for 50 pips only.
Don't compare your Trades with Others
  • #714,633
  • Dec 15, 2022 7:08am Dec 15, 2022 7:08am
Quoting JayBag
{quote} IMO, I honestly think we are better off without fundis. I mostly avoid taking trades before news because they mess up charts with whipsaws and the like.
Speaking of fundies, U.s retail sales at 1330pm gmt...just hanging for that and then finishing. Probably be a non-event but you never know.
Trader with an Edge.
  • #714,634
  • Dec 15, 2022 7:13am Dec 15, 2022 7:13am
Sold EURUSD and EURJPY
i hope ECB will not Disappoint Me...
lets see if it drops 50 pips or not.?
i could be wrong but i trade what my algo says.
and sentiment from last 4H is -6 that is good enough for me..
Don't compare your Trades with Others
  • #714,635
  • Dec 15, 2022 7:15am Dec 15, 2022 7:15am
Quoting DubaiFX
Sold EURUSD and EURJPY i hope ECB will not Disappoint Me... lets see if it drops 50 pips or not.? i could be wrong but i trade what my algo says. and sentiment from last 4H is -6 that is good enough for me..
I think ECB brings Euro and GBP up.
  • #714,636
  • Dec 15, 2022 7:18am Dec 15, 2022 7:18am
The EU rally's off a flat rate?
The GU falls off a flat EU rate?
  • #714,637
  • Dec 15, 2022 7:19am Dec 15, 2022 7:19am
Quoting Headland
{quote} Speaking of fundies, U.s retail sales at 1330pm gmt...just hanging for that and then finishing. Probably be a non-event but you never know.
It might be the straw that broke the GUs back lol. Something has to move. Both Fed and BoE were non starters
Insane in the Brain..
  • #714,638
  • Dec 15, 2022 7:19am Dec 15, 2022 7:19am
Quoting Bella.al
Short GBPUSD:1.23077 S/L:1.23321 T/P:1.20192 Bella's Resistance:1.23277 -Bella's Blue {image}
Just touched Bella's Resistance : 1.23277

waiting for an update :

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Goddess of Thunder..
  • #714,639
  • Dec 15, 2022 7:19am Dec 15, 2022 7:19am
Quoting Elknit
{quote} I think ECB brings Euro and GBP up.
Could be but i am Not worried Eventually it will Drop.
so i am Patient, after the Press Conference we will see...
hope i am not wrong..
but 1.0580 may hold some suupport that what worries me but if Broken then Fiber is FIBER it will go Down Nicely..
Don't compare your Trades with Others
  • #714,640
  • Dec 15, 2022 7:22am Dec 15, 2022 7:22am
Quoting Headland
{quote} Speaking of fundies, U.s retail sales at 1330pm gmt...just hanging for that and then finishing. Probably be a non-event but you never know.
Empire State Manufacturing Index.. this is still nowhere. Hawkish ECB so far.. not what I expected really, but still, Lagarde has to speak and could potentially destroy Euro. We'll see.

Still..Pound didn't react at all..

Euro at 1.07 should be good for Shorting in my opinion if it get's there..
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