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Cable Update (GBPUSD)

  • #714,701
  • Dec 15, 2022 10:36am Dec 15, 2022 10:36am
Attached Image (click to enlarge)
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GBP/USD
1.2172
1.21928
1.22025
1.22136 pvt
1.22233
1.22344
1.22552
  • #714,702
  • Dec 15, 2022 10:40am Dec 15, 2022 10:40am
Quoting Georginson
Currently 6 consecutive days of buying but the candle sizes are getting smaller... Yesterday CPI came out bad for USD yet price only did 180 pips bullish move and gave back 80 pips from that high of 1.2443, compared to the previous CPI news that came out negative for USD in November 10 which produced extra ordinary 380 pips move in a single day... Weekly also showing exhaustion signs as last week's range being 243 pips is the lowest weekly range since August... These are all bullish exhaustion signs... I'm expecting 400 pips correction before...
And here is the result of the signs of exhaustion... 240 pips fall from high...

Note that this fall is for momentum gathering to break further highs later... The destination is 1.38.
Data + Stat + Risk/Emotions Management
  • #714,703
  • Dec 15, 2022 10:42am Dec 15, 2022 10:42am
Quoting Bella.al
{quote} S/L is hit -24

How are you Bell.al

Nice to see you
Shekh In Desert
  • #714,704
  • Dec 15, 2022 10:44am Dec 15, 2022 10:44am
Taken a long at 12218 TP 123-12330 and it’s still sinking ! Was there a reason for the drop? Just got back from school run.
Insane in the Brain..
  • #714,705
  • Dec 15, 2022 10:53am Dec 15, 2022 10:53am
Quoting Georginson
{quote} And here is the result of the signs of exhaustion... 240 pips fall from high... Note that this fall is for momentum gathering to break further highs later... The destination is 1.38.
I agree George that the pound will hit 1.380 next year sometime. But don't you think it could shoot for the year's low first? What might that be?
  • #714,706
  • Dec 15, 2022 10:55am Dec 15, 2022 10:55am
Quoting gjgriff
{quote} I agree George that the pound will hit 1.380 next year sometime. But don't you think it could shoot for the year's low first? What might that be?
You may not see that low again until decades... Except something extra ordinary happens...
Data + Stat + Risk/Emotions Management
  • #714,707
  • Dec 15, 2022 10:59am Dec 15, 2022 10:59am
It's still couple hours away from Euro dinner, payable in Pound.

Since our friends here also trade USDJPY alongside Cable, I saw that good opportunity to jump right in. I'll short it to 133.50 and see what happens. Went in at 137.86.
Attached Image (click to enlarge)
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  • #714,708
  • Dec 15, 2022 11:03am Dec 15, 2022 11:03am
Quoting Georginson
{quote} You may not see that low again until decades... Except something extra ordinary happens...
I don't mean that it will hit the low of 2022. I'm asking what you might think the low of 2023 might be? And will it be hit before the high of 2023?
  • #714,709
  • Dec 15, 2022 11:05am Dec 15, 2022 11:05am
TP is nearing for Other GBP Sell

TP is 1.21810

KitKat

Shekh In Desert
  • #714,710
  • Dec 15, 2022 11:07am Dec 15, 2022 11:07am
1.2195 long.
  • #714,711
  • Dec 15, 2022 11:08am Dec 15, 2022 11:08am
Quoting cchin
It's still couple hours away from Euro dinner, payable in Pound. Since our friends here also trade USDJPY alongside Cable, I saw that good opportunity to jump right in. I'll short it to 133.50 and see what happens. Went in at 137.86. {image}

Really nice setup there but its little maybe risky

Gbp is full throttle down Eur reversing from a solid overhead Jpy maybe throttling up
Shekh In Desert
  • #714,712
  • Dec 15, 2022 11:12am Dec 15, 2022 11:12am
This can't go on. It's gone too far. Stop!
Attached Image (click to enlarge)
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1.02^200
  • #714,713
  • Dec 15, 2022 11:12am Dec 15, 2022 11:12am
Quoting kuroro001
give me a dollar round trip
Market listened
Lovely roundtrip
COT: The precious data ignored
  • #714,714
  • Dec 15, 2022 11:12am Dec 15, 2022 11:12am
Its gonna Take It Out

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 5 KB
I am off to sleep thereafter
Shekh In Desert
  • #714,715
  • Dec 15, 2022 11:15am Dec 15, 2022 11:15am
I may buy the pound around 1.1750/1.1850

But by looking at VIX ? risk could take a big hit, view hasn't changed
COT: The precious data ignored
  • #714,716
  • Dec 15, 2022 11:33am Dec 15, 2022 11:33am
Quoting Whale
1.2195 long.
Out -2

price will take out the low of 1.21 area..
i've said it for days but when its going there i prefer to lose money on longs..
  • #714,717
  • Dec 15, 2022 11:34am Dec 15, 2022 11:34am
Quoting Georginson
{quote} You may not see that low again until decades... Except something extra ordinary happens...
reality is extra ordinary
  • #714,718
  • Dec 15, 2022 11:36am Dec 15, 2022 11:36am
Quoting Indigo45
{image}This is H4 Chart. I Think this is the time to make lower low and Lower high. Fundamentals tell that Price need correction. Even BoE could not extend the price. USD is not that weak, as it has been considered. This is clear sign. Regards, Kashif
But before H4 can make that pattern, H1 will have to do the same pattern first. Of course, not at the same levels as H4.
To free Gazans of Hamas, use whatever it takes.
  • #714,719
  • Dec 15, 2022 11:39am Dec 15, 2022 11:39am
Quoting DubaiFX
{quote} Thanks, it may test highs again and may go up also just to get retail traders to BUY and then drop the HAMMER this what Big boys do, like Yellen Just DID, its now weird its what they do, that is how they make their money from hitting Retail Traders Stop loss, Remember its Zero Sum Game, that means Someone's LOSS is your Profit, Don't let your LOSS be Someone else PROFIT. Just survive
Was i Wrong, i told you Guys it will Crash Buyers No matter where your Stop loss has Been.
as i said in my earlier post i worked for Some of Big Firms and i know how they do it,
that is why i keep telling every one atl east 5 post when pound was at 1.2440 don't wait for drop and BUY never BUY SELL SELL,
i hope maybe Someone DID took my Advise and at least Stayed Away from Market.
i wish i saved Few Traders Whole Week Profits.
just Praying for other Fellow Traders,

although i do have a Question for Every one
have any one tried Starting with 10$ and make it BIG Account??
i did it in 2008 30$ to 500$ account is still live.
Don't compare your Trades with Others
  • #714,720
  • Dec 15, 2022 11:42am Dec 15, 2022 11:42am
1.22 to 1.23 is my flavor
be a thinker before being a reacter
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