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Cable Update (GBPUSD)

  • #714,881
  • Dec 16, 2022 6:54am Dec 16, 2022 6:54am
15 min
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  • #714,882
  • Dec 16, 2022 6:58am Dec 16, 2022 6:58am
Quoting Moty
Ready to take long again {image}
Not yet, have an consolidation, the thief players are waiting the news. Let's wait the action of them.
Together we can be strongest
Vantage Return This Month: na
  • #714,883
  • Dec 16, 2022 7:07am Dec 16, 2022 7:07am
No more bias. Just trading what I see. BE activated whenever required.
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The market hides a perfect geometry.
  • #714,884
  • Dec 16, 2022 7:08am Dec 16, 2022 7:08am
Took second trade on Cable.

Short at 1.216
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  • #714,885
  • Dec 16, 2022 7:10am Dec 16, 2022 7:10am
Quoting Moty
Ready to take long again {image}
Here look, have an channel bearish M15.

Attached Image (click to enlarge)
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Together we can be strongest
Vantage Return This Month: na
  • #714,886
  • Dec 16, 2022 7:12am Dec 16, 2022 7:12am
Quoting Chokdee
{quote} Not sure the change in sentiment was anything more than a short term thing. The weekly and daily charts still look strong. I wouldn't be surprised if cable staged a recovery by end of play today.
Probably.
  • #714,887
  • Dec 16, 2022 7:13am Dec 16, 2022 7:13am
Quoting palpite
{quote} Here lock, have an channel bearish M15. {image}
Now change everything, the point for to buy is above the pivot weekly.
Together we can be strongest
Vantage Return This Month: na
  • #714,888
  • Dec 16, 2022 7:26am Dec 16, 2022 7:26am
Quoting Yngwie
Market wait for upcoming Flash Services PMI news to make a move.
You are VERY correct.

I really don't know WHY people are talking about Cable rising except to get a better short entry.

Let's review FUNDAMENTALS shall we?

Powell SAID, we have MORE WORK TO DO! Terminal rate is 5.1%

Look at the numbers from the UK today: Retail sales are tanking, Manufacturing is slowing more than in USA, only services are stubbornly high (just like USA)

However UK is realistic and announced that they are in a recession. The UK rate hikes will slow dramatically compared to the USA.

Wait until the US PMI numbers come out in 1.5 hours. If the PMI meets or exceeds expectations it confirms another Cable tanking - in my opinion

With regards to the TA - I LOVE reading all the various contributions and different perspectives; thank you all. Having said that after today I give very little weight to TA at this time of year. WHY? Too many people taking vacations (professionals) - Too many newbies who have off for Christmas week trading for first time - Too many companies trying to balance their books before the end of year - Tax selling for many as well.
...because you never know - until you do!
  • #714,889
  • Dec 16, 2022 7:33am Dec 16, 2022 7:33am
Quoting Bones
{image}
I think this will be the correct angle for the movement bullish.

Attached Image (click to enlarge)
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Together we can be strongest
Vantage Return This Month: na
  • #714,890
  • Dec 16, 2022 7:35am Dec 16, 2022 7:35am
Quoting Wavegarrick
{quote} In my humble opinion. Unless Usdx can sustain a clear break above 104.893 and more importantly a weekly close above, we can merely treat this as a retrace or correction from a higher time frame perspective. Usdx is setting up for a sell trade, which means at this point we could look for dollar weakening. Cheers. {image}
Garrick,

On my daily DXY I'm expecting a pullback to the 106.00-107.00 range (23-38% re-tracement) before deciding on a direction.

Curious but with the holiday periods (starting next week until January) do you "modify" your charts to compensate for the lower volume?
...because you never know - until you do!
  • #714,891
  • Dec 16, 2022 7:44am Dec 16, 2022 7:44am
Flat waves, flat business. Rest tomorrow.
But I learned a lot.
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  • #714,892
  • Dec 16, 2022 7:52am Dec 16, 2022 7:52am
Went Long..

15M Long
30M Confirmed Long Just Now
Hourly Maybe..?

SL 20 Pips
TP Best Case Scenario ~ 1.23
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  • #714,893
  • Dec 16, 2022 7:59am Dec 16, 2022 7:59am
moti moti how are you doing
  • #714,894
  • Dec 16, 2022 8:03am Dec 16, 2022 8:03am
Quoting palpite
{quote} I think this will be the correct angle for the movement bullish. {image}
You have to take out the monthly open to be right
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #714,895
  • Dec 16, 2022 8:07am Dec 16, 2022 8:07am
I believe the detail that is important today is that the USDX wants to fall!
  • #714,896
  • Dec 16, 2022 8:11am Dec 16, 2022 8:11am
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yes yes yes
  • #714,897
  • Dec 16, 2022 8:15am Dec 16, 2022 8:15am
Quoting cchin
Took second trade on Cable. Short at 1.216 {image}
Whats Your Plan.
Where do you Close these Short Orders.
Your approach is nice.
I have been watching you. Haha

Any predetermined Targets
Shekh In Desert
  • #714,898
  • Dec 16, 2022 8:20am Dec 16, 2022 8:20am
I will be happy to get 1.2111 for correction

i need pips after yesterday. Fridays in and out
  • #714,899
  • Dec 16, 2022 8:20am Dec 16, 2022 8:20am
I'm banking on this candle being the one that is taking out Buyers. Hopefully the news will be bad for USD.
  • #714,900
  • Dec 16, 2022 8:27am Dec 16, 2022 8:27am
IG Markets has 69% of their clients long on the USDX and 50% short on GU. 58% are short on EU. The gap widened.
It will be interesting to see where MM's take GU today!
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