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Cable Update (GBPUSD)

  • #715,401
  • Dec 20, 2022 9:55am Dec 20, 2022 9:55am
The consolidation is finishing, i hope not have traps.

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Together we can be strongest
Vantage Return This Month: na
  • #715,402
  • Dec 20, 2022 9:58am Dec 20, 2022 9:58am
See USDINDEX and GOLD Crazy Move no Big news still Gold is up 20$ in just 2 hours..
that is the Reason End of the Year is always Crazy,
maybe i am Crazy for Shorting GOLD went on 1820 looking for at least 1815 or 1810 if i am Lucky that Move Does not Strike me as Solid Move,
i have Bloomberg data Converted in R Chart and it does not say GOLD should be at 1820
so sold just a small lot want to see what happens,
as i said Before Until Next Year i am out of POUND,
so don't mind GOLD Analysis Guys some times it is Better to Stay away from a Pair when Big boys are saying we are Out
as i said before i take their Words very Seriously, and believe it or not it saved me a lot of Pips over time,
for instance i wanted to Buy at 1.2330 for 1.2550 to be honest, but then my Mentor Suggested i should wait and sell above 1.24 i stopped and waited
then i got a call go with sell you will thank me,
and i did when t hit 1.22
my point is when there is Conflict in my analysis and someone better then me, i stay away simply because i don't want to be wrong,
because in Forex LOGIC works not my EGO or Desire to be Right

Not all Fingers are same LENGTH,
but when they are BENT, all stand in EQUAL length,
Life becomes easy
when we BEND and ADJUST to Certain Situations..
Don't compare your Trades with Others
  • #715,403
  • Dec 20, 2022 10:08am Dec 20, 2022 10:08am
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yes yes yes
  • #715,404
  • Dec 20, 2022 10:11am Dec 20, 2022 10:11am
Quoting TheWolf
EUR/CAD H4 Went Short @ 144.705. Potential: 450 pips {image}
Nice Finally Someone is with me EURCAD i sold Yesterday 1.4530 SL moved to +5
and waiting for 1.4380 i dont have the Patience for 400 pip move.
best thing i can do and always do is Close at OverSold and when Retracement is Done i Sell again.
that way i made much more pips then 400 in just 200pip move,
CAD is good to buy Specially after the Data, but i only did it because 6 weeks of Higher Highs it Finally stopped.. and its time for Position Adjustment,
before CAD Interest rate it Started the Move and now that is said and Done,
its time to Buy CAD for shout term, and already everything Dropping when USD INDEX moves UP but EURUSD didn't maybe tomorrow is the time we Finally see 1.0550-30 or end of the Week.
that is my Logic Behind the Trade.
can i ask what is Your's just so i can Learn..
i am always the Student of Forex and always will be..

It is our choices that show what we truly are, far more than our abilities." —J. K. Rowling
i have learned from Past mistakes that Once you Start Thinking you know everything, that is when you start losing and i did it very well in my Early Days Specially in 2009-2010.
Don't compare your Trades with Others
  • #715,405
  • Dec 20, 2022 10:14am Dec 20, 2022 10:14am
GBP is still bearish.
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Money Maker
  • #715,406
  • Dec 20, 2022 10:15am Dec 20, 2022 10:15am
It happens that Eurusd and Gbpusd become negatively correlated and in this case the dollar drops in conjunction with the Pound, hence ranging conditions with GbpUsd. It does not happen often but it happens. This could be due to year end profit taking or corrections and so forth. In my opinion EurGbp is setting up for a sell trade from a weekly perspective. I am in with a sell trade On EurGbp.
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Drilled down to 4hr t/frame:
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Trade safe,
Cheers.
Trade to trade another day
  • #715,407
  • Dec 20, 2022 10:21am Dec 20, 2022 10:21am
Quoting palpite
{quote} Something is wrong, because the Usd Index is dropping and GBPUSD is dropping too. {image}
as i Said before, END OF YEAR POSITION ADJUSTMENT, you never know what they are Thinking,
and Next week big boys will be out, that is for Sure, + thin Liquidity can make things Seen Strange.

After the game, the king and the pawn go into the same box.
Don't compare your Trades with Others
  • #715,408
  • Dec 20, 2022 10:27am Dec 20, 2022 10:27am
Quoting JayBag
{quote} Hey Thewolf, Perhaps not related to your post, but I just picked up a buy trade on NZDUSD Interesting to see. Having seen your post, I may just target previous significant HIGH to be safe. Cheers
Hey Jay! Sorry, I was looking at the USD/JPY price now since it created a new low now, again..

NZD/USD At the moment..

15M Sell
30M Sell
Hourly Sell
H4 Sell
Daily... as you can see. If it closes like this, system thinks the price is about to drop..

H4 .. in my opinion the price is done going up..
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  • #715,409
  • Dec 20, 2022 10:31am Dec 20, 2022 10:31am
GBP/JPY... 800 pips so far..
Last time we saw this kind of drop is also vs Yen, but it was CHF/JPY though.
  • #715,410
  • Dec 20, 2022 10:37am Dec 20, 2022 10:37am
pink line looks like Support...I will wait for signal

vrr this FX is like a drug..can't be stopped
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Trendlines H1,H4, SMC
  • #715,411
  • Dec 20, 2022 10:39am Dec 20, 2022 10:39am
USD/JPY Minute Chart

Price kissed 131.000 exactly!

Long @ 131.034..

Trying is the first step to failure..
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  • #715,412
  • Dec 20, 2022 10:45am Dec 20, 2022 10:45am
Quoting TheWolf
{quote} Hey Jay! Sorry, I was looking at the USD/JPY price now since it created a new low now, again.. NZD/USD At the moment.. 15M Sell 30M Sell Hourly Sell H4 Sell Daily... as you can see. If it closes like this, system thinks the price is about to drop.. H4 .. in my opinion the price is done going up.. {image} {image}
Thanks for responding and looking at the chart.
Thing is, when all TF align, I fear the opposite happens (In my limited experience of cause)

I mean, MM never operates soooo openly
However, thanks for your opinion, let's see how it goes. I just want 100ppips and I am out.

Cheers
  • #715,413
  • Dec 20, 2022 10:50am Dec 20, 2022 10:50am
update
the key is cca 1.2163

If we stay below = short, otherwise above = long
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Trendlines H1,H4, SMC
  • #715,414
  • Dec 20, 2022 11:05am Dec 20, 2022 11:05am
Quoting TheWolf
{quote} Well, we look at the history right? Which currencies do well during recession? USD, CHF and JPY. Next, we look for those very good opportunities to enter long on these currencies. Which currencies do badly during recession? Well, the winner here is GBP. We also then look for opportunities to Short Pound when market provides us good price to start Selling Pound from. This is how I do these stuff. Of course closely monitoring any changes in monetary policy also. Client sentiment also to some degree.
Thanks for the scope Wolf...
Lou Vincii Code
  • #715,415
  • Dec 20, 2022 11:14am Dec 20, 2022 11:14am
My Trading Plan for Tomorrow:

  1. My View is Strong Sell GBPUSD, Sell Ranges, B4 the news (1500GMT USA Consumer Sentiment).
  2. If I see a Strong Daily UP candle Wednesday (close above 20 MA), I will buy YOLO Lot Size, If that doesn't work (I won't be posting on here 4 a while). That will be my only reason to buy.

  1. As posted Before I missed out on 1.9% (80pips) profit by 0.5pips and took a -1.06% Loss (I was sleeping Asian session). Lost Another 0.6% in revenge, thinking about it.


Chart Plan :

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Disclaimer: I hardly stuck to my plan this week, which meant further Losses. I'm just putting this here, so I can stick to it. This is not a signal.
All Assets NAS100 GLD BTC AUS JPY GBP All Time Return: 18.2%
  • #715,416
  • Dec 20, 2022 11:22am Dec 20, 2022 11:22am
USD/JPY Long @ 130.636..

I'll catch this train eventually!

+40 pips for now, unless I'm 200 pips up, I don't trust it's a retracement..

This is the hour for retracement perhaps.. most of the traders gone by now, London closed..

EUR/JPY 138.999
GBP/JPY 158.800

YOU CAN'T SELL AS MUCH AS I CAN BUY!! YOU UNDERSTAND THAT BANKS?! ...
  • #715,417
  • Dec 20, 2022 11:22am Dec 20, 2022 11:22am
What a tough day,but I’m still alive
  • #715,418
  • Dec 20, 2022 11:28am Dec 20, 2022 11:28am
Quoting Limying
What a tough day,but I’m still alive
One of the craziest days in 2022? I think so.. we had that moment with Pound once when it dropped to 1.03.. and also CHF/JPY 800 pips. BoJ interventions.
The only regret I have is not to go long after BoE intervened in the market.. that was stupid.. every day we learn.
  • #715,419
  • Dec 20, 2022 11:39am Dec 20, 2022 11:39am
anyone else long on gbpjpy?
  • #715,420
  • Dec 20, 2022 11:44am Dec 20, 2022 11:44am
Quoting shay14
anyone else long on gbpjpy?
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