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Cable Update (GBPUSD)

  • #714,961
  • Dec 17, 2022 1:27am Dec 17, 2022 1:27am
Weekly near confirming Short on Yen pairs. USD, CHF and some already did. Now, Euro and Pound are very close.. I'm jumping on this train for sure. If I get confirmation I'll act decisively as they like to say in Japan.
  • #714,962
  • Dec 17, 2022 2:18am Dec 17, 2022 2:18am
Quoting trumps
The lack of any significant retrace since 1.03xx, looking at the most recent weekly candle and watching USD bounce off support, I think there is decent potential to visit 1.15 region.
Archimedes once said, “Give me a firm place to stand and a lever and I can move the Earth.” If all you could have is one piece of information regarding the forex market, all you would need is the annual high or low and which it will hit first. This could be turned into a lot of money.

So as we are ending this year and looking at 2023 I think one of the best questions we could be asking is, What will be the high or low of 2023 and which will it hit first?

My two cents prediction is that we will hit the annual low first in the area of 1.100 in the first or second quarter and then the remainder of the year the pound will climb to 1.2700 by year end and 1.360 by the second quarter of 2024.
  • #714,963
  • Dec 17, 2022 2:55am Dec 17, 2022 2:55am
Quoting gjgriff
{quote} Archimedes once said, “Give me a firm place to stand and a lever and I can move the Earth.” If all you could have is one piece of information regarding the forex market, all you would need is the annual high or low and which it will hit first. This could be turned into a lot of money. So as we are ending this year and looking at 2023 I think one of the best questions we could be asking is, What will be the high or low of 2023 and which will it hit first? My two cents prediction is that we will hit the annual low first in the area of...
This is a good scenario (no recession).

In case of the recession which is inevitable (in my opinion and in opinion of 90% of the economists), Pound is indeed going back to under 1.10 definitely. Recession will probably first be declared in GB, after which all of the others will follow, with US being the last. We should see this play out very soon. Japanese Yen is a great indicator to how close the market thinks recession is. If they think it's near, Yen will wipe out the field. Small inflation still and still negative interest rates. I think the market will soon recognize what potential there is behind Yen and will start Buying the shit out of the Yen.

As always, we'll see.. but I don't expect seeing Pound above 1.15 in the next year after it drops below it. For 2024 God knows..

Look, there are talks about the recession already.. what do you think market does if rumours have started to spread? They act on it before it happens! Buy the rumour, Sell the fact right? This will be the most interesting year trading-wise..

And look, noone knows what will happen when Fed actually pivots and declares defeat against Inflation which is what top economists expect to see.
What will happen to the USD will be amazingly interesting once Fed is done and loses all of the credibility that is left.
  • #714,964
  • Dec 17, 2022 4:47am Dec 17, 2022 4:47am
Quoting gjgriff
{quote} Archimedes once said, “Give me a firm place to stand and a lever and I can move the Earth.” If all you could have is one piece of information regarding the forex market, all you would need is the annual high or low and which it will hit first. This could be turned into a lot of money. So as we are ending this year and looking at 2023 I think one of the best questions we could be asking is, What will be the high or low of 2023 and which will it hit first? My two cents prediction is that we will hit the annual low first in the area of...
Sorry but your point is irrelevant as none of us ever know when the hi or lo of the year will be and which will be printed first. Re your own prediction - unless you are willing to back it up with money placed on it , which I don't think anyone would recommend, then that too is worthless. We don't even know what the first 5mins of the new trading week will see let alone what the Hi or Lo of next year will be, or when it will be printed.

Just as a further general point, why even bother with useless predictions? You don't have to know what price is going to do next to make money from trading, which is just as well, as none of us do.

Ps: I'm guessing your '2 cents' prediction isnt based on extensive fundie analysis because of the way you described it.
Trader with an Edge.
  • #714,965
  • Dec 17, 2022 5:43am Dec 17, 2022 5:43am
Quoting Headland
{quote} Sorry but your point is irrelevant as none of us ever know when the hi or lo of the year will be and which will be printed first. Re your own prediction - unless you are willing to back it up with money placed on it , which I don't think anyone would recommend, then that too is worthless. We don't even know what the first 5mins of the new trading week will see let alone what the Hi or Lo of next year will be, or when it will be printed. Just as a further general point, why even bother with useless predictions? You don't have to know what...
DAMN Headland chillout
Lou Vincii Code
  • #714,966
  • Dec 17, 2022 5:58am Dec 17, 2022 5:58am
Quoting gjgriff
{quote} Archimedes once said, “Give me a firm place to stand and a lever and I can move the Earth.” If all you could have is one piece of information regarding the forex market, all you would need is the annual high or low and which it will hit first. This could be turned into a lot of money. So as we are ending this year and looking at 2023 I think one of the best questions we could be asking is, What will be the high or low of 2023 and which will it hit first? My two cents prediction is that we will hit the annual low first in the area of 1.100...
Please please support your prediction
Lou Vincii Code
  • #714,967
  • Dec 17, 2022 6:03am Dec 17, 2022 6:03am
I analyzed all the pairs throughout, and I see that the biggest opportunity is in buying aud/usd next week.

this rise would mean 100 pips.

IMHO.
  • #714,968
  • Dec 17, 2022 8:47am Dec 17, 2022 8:47am
2022 measurements for 2023 levels.
range= 3400 pips
1/8= 425 pips

current trend is strong, until it show weakness, pullback for HL (higher low) should be within 2/8's (+/- 850 pips)

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cheers,
"the public is not yet ready for it" W.D. GANN
  • #714,969
  • Dec 17, 2022 9:09am Dec 17, 2022 9:09am
already a 35 pip gap down..
  • #714,970
  • Dec 17, 2022 9:58am Dec 17, 2022 9:58am
Quoting shay14
already a 35 pip gap down..
Where did you see this?
  • #714,971
  • Dec 17, 2022 9:59am Dec 17, 2022 9:59am
Quoting Moty
even if you went for 10 pips per signal you had gained 100 pips today this strategy is really the holy grail {image}
until it’s not
How to succeed in zero sum game?
  • #714,972
  • Dec 17, 2022 11:13am Dec 17, 2022 11:13am
trend is up..looking to go long.
  • #714,973
  • Dec 17, 2022 11:14am Dec 17, 2022 11:14am
Quoting Headland
{quote} Sorry but your point is irrelevant as none of us ever know when the hi or lo of the year will be and which will be printed first. Re your own prediction - unless you are willing to back it up with money placed on it , which I don't think anyone would recommend, then that too is worthless. We don't even know what the first 5mins of the new trading week will see let alone what the Hi or Lo of next year will be, or when it will be printed. Just as a further general point, why even bother with useless predictions? You don't have to know what...
Just trying to evoke some conversation about next year's range. By the way Headland, I highly value your posts and read them daily. Thanks for your research and sharing!

My two cents prediction is based on the last ten years annual range. Of course there are some extremes like 1000 pips and this years range of 3400 pips. I'm going with an average range of 1600 pips. Ing also forecasts that the pound's low will hit 1.100 next year. https://think.ing.com/forecasts/

I definitely don't have heavy research behind my post. But some of you are very well versed in annual ranges, support and resistance, fundamentals, etc and I would love to hear your insights about next year's range.
  • #714,974
  • Dec 17, 2022 11:34am Dec 17, 2022 11:34am
Quoting gjgriff
{quote} Just trying to evoke some conversation about next year's range. By the way Headland, I highly value your posts and read them daily. Thanks for your research and sharing! My two cents prediction is based on the last ten years annual range. Of course there are some extremes like 1000 pips and this years range of 3400 pips. I'm going with an average range of 1600 pips. Ing also forecasts that the pound's low will hit 1.100 next year. https://think.ing.com/forecasts/ I definitely don't have heavy research behind my post. But some...
I am a swing trader.....gu is in a nice uptrend.....looking to go long on abit of strength
  • #714,975
  • Dec 17, 2022 11:48am Dec 17, 2022 11:48am
I see an opportunity for a correction, a 50 pips move north of gbp/usd, which will most likely be fulfilled.

h1.
  • #714,976
  • Dec 17, 2022 11:54am Dec 17, 2022 11:54am
Cable- for me bearish
on Monday I will see how it reacts on 1.21500...
my target is 1.18
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!! Radha Radha !!
  • #714,977
  • Dec 17, 2022 12:11pm Dec 17, 2022 12:11pm
it must reach 1.22800. once he has achieved this, he can go anywhere again.

IMHO.
  • #714,978
  • Dec 17, 2022 1:41pm Dec 17, 2022 1:41pm
USD sitting on decent support with a potential target to watch for
Attached Image(s) (click to enlarge)
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Compulsions can be hard to resist
  • #714,979
  • Dec 17, 2022 2:10pm Dec 17, 2022 2:10pm
Quoting suhas316
Cable- for me bearish on Monday I will see how it reacts on 1.21500... my target is 1.18 {image}
Thank you very much for this de-noised chart.

It really provides a better image of what is currently happening... The biggest disadvantage for us, traders, is the noise in the market. Long wicks... I hate them with all my heart!!!!

Personally, I am also prioritizing SELLING opportunities at the moment. But, someone from the inside is constantly whispering "if the price needs to go deeper, it needs to retrace (breathe) a little". So, in the following days, I will be picky and choose opportunities with little risk while SELLING.

Best Regards
Imagination rules the world ...
Selym Hyll Return This Year: na
  • #714,980
  • Dec 17, 2022 2:59pm Dec 17, 2022 2:59pm
Quoting selym_co
{quote} Thank you very much for this de-noised chart. It really provides a better image of what is currently happening... The biggest disadvantage for us, traders, is the noise in the market. Long wicks... I hate them with all my heart!!!! Personally, I am also prioritizing SELLING opportunities at the moment. But, someone from the inside is constantly whispering "if the price needs to go deeper, it needs to retrace (breathe) a little". So, in the following days, I will be picky and choose opportunities with little risk while SELLING. Best Regards...
well you explained exactly what is going in my mind chart is screaming for further north move, but a decent retrace is required to give the pa the push towards 1.18 & 1.17
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