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Cable Update (GBPUSD)

  • #714,901
  • Dec 16, 2022 8:30am Dec 16, 2022 8:30am
Quoting Moty
{image}
Few minutes for the news, the risk is righer try to predict it.


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Together we can be strongest
Vantage Return This Month: -97.0%
  • #714,902
  • Dec 16, 2022 8:30am Dec 16, 2022 8:30am
Quoting fxsport
{quote} 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?
Nope sir. I don't touch anything, simply as is. No curve fitting, no modifications of anything. My charts are as old as the mountains, year in and year out
I simply go with the harmonious flow of the market. If you look at my Fib retrace it simply gives a retracement of the Dec monthly high to low. A break of either will give new direction, having said, with unwinding of yearly positions from the market players we can expect anything. Trend reversals are highly unlikely at this time.
Cheers.
Trade to trade another day
  • #714,903
  • Dec 16, 2022 8:34am Dec 16, 2022 8:34am
Quoting TheWolf
I'm banking on this candle being the one that is taking out Buyers. Hopefully the news will be bad for USD.
Trade closed! While I didn't take any profit, price allowed me to exit at zero.. I'll go Long as soon as the news come out I think. If price goes down I won't trade.
Usually 15M candles give some hints of where the price will go after the news, but here they're neither pulling up nor down really before the news so.. safe and sound.

Honestly, I forgot about the news, otherwise I wouldn't even bother entering the trade. Well, it happens..
  • #714,904
  • Dec 16, 2022 8:35am Dec 16, 2022 8:35am
Quoting TheWolf
I'm banking on this candle being the one that is taking out Buyers. Hopefully the news will be bad for USD.
69% of IG Markets clients long on the USDX suggests that MM's should move it the other way! Does that help?
  • #714,905
  • Dec 16, 2022 8:37am Dec 16, 2022 8:37am
Quoting dantpm
{quote} 69% of IG Markets clients long on the USDX suggests that MM's should move it the other way! Does that help?
I do expect the price to go up. Let's see..
  • #714,906
  • Dec 16, 2022 8:37am Dec 16, 2022 8:37am
my final trade for this week
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  • #714,907
  • Dec 16, 2022 8:37am Dec 16, 2022 8:37am
Quoting TheWolf
I'm banking on this candle being the one that is taking out Buyers. Hopefully the news will be bad for USD.
Remember to be impartial

Good News - Bad News - Doesn't matter.

Price Action is what matters.

Remember the past CPI & PMI? Huge initial spikes that within 6 hours were totally filled.

Be like water and go with the flow...
...because you never know - until you do!
  • #714,908
  • Dec 16, 2022 8:38am Dec 16, 2022 8:38am
Quoting Wavegarrick
{quote} Nope sir. I don't touch anything, simply as is. No curve fitting, no modifications of anything. My charts are as old as the mountains, year in and year out I simply go with the harmonious flow of the market. If you look at my Fib retrace it simply gives a retracement of the Dec monthly high to low. A break of either will give new direction, having said, with unwinding of yearly positions from the market players we can expect anything. Trend reversals are highly unlikely at this time. Cheers.
Don't "fix" what is already great..
  • #714,909
  • Dec 16, 2022 8:39am Dec 16, 2022 8:39am
Quoting PatienceFx
my final trade for this week {image}
While I'm rooting for you I don't have the nuts for placing a trade BEFORE the PMI.

Maybe I'm actually learning patience????
...because you never know - until you do!
  • #714,910
  • Dec 16, 2022 8:43am Dec 16, 2022 8:43am
Quoting TheWolf
{quote} I do expect the price to go up. Let's see..
It has more to do with where MM's want to go than the news! Most of the press releases have tended to be benign or no significant impact confirmed by the FED stance Wednesday! Hasn't stopped the MM's from moving the markets!
  • #714,911
  • Dec 16, 2022 8:43am Dec 16, 2022 8:43am
Stop at be
If it stopped me out
I will take long at 1.21625
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yes yes yes
  • #714,912
  • Dec 16, 2022 8:46am Dec 16, 2022 8:46am
Price to move higher from here.. the 4hr low that created this recent high is still intact
  • #714,913
  • Dec 16, 2022 8:49am Dec 16, 2022 8:49am
Quoting Moty
Stop at be If it stopped me out I will take long at 1.21625 {image}
Is better to leave for the next week. The market not is good.
Together we can be strongest
Vantage Return This Month: -97.0%
  • #714,914
  • Dec 16, 2022 8:50am Dec 16, 2022 8:50am
Bad USD! Bad, bad USD!
  • #714,915
  • Dec 16, 2022 8:51am Dec 16, 2022 8:51am
Out !!!!!
It's playing around,it wi get to 1.22225 for sure
But i want to cash out
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yes yes yes
  • #714,916
  • Dec 16, 2022 8:54am Dec 16, 2022 8:54am
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  • #714,917
  • Dec 16, 2022 8:56am Dec 16, 2022 8:56am
Quoting Moty
Out !!!!! It's playing around,it wi get to 1.22225 for sure But i want to cash out {image}
It may go higher! Whale and Pat seemed to think so...
  • #714,918
  • Dec 16, 2022 9:01am Dec 16, 2022 9:01am
Quoting Moty
Out !!!!! It's playing around,it wi get to 1.22225 for sure But i want to cash out {image}
Took short at 1.22225
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yes yes yes
  • #714,919
  • Dec 16, 2022 9:02am Dec 16, 2022 9:02am
The pair is in an uptrend so look for longs only. Trying to predict the occasional pullback against the trend is a recipe for pain
  • #714,920
  • Dec 16, 2022 9:07am Dec 16, 2022 9:07am
Quoting fxsport
{quote} While I'm rooting for you I don't have the nuts for placing a trade BEFORE the PMI. Maybe I'm actually learning patience????
And we're off...

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...because you never know - until you do!
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