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Cable Update (GBPUSD)

  • #721,621
  • Jan 18, 2023 4:06am Jan 18, 2023 4:06am
Quoting pipcenturion
GBPUSD Risky short for a few pips {image}
Added a little more.

Maybe trying to convince myself.

I felt the first entry was risky.

This ought to be better.
Attached Image (click to enlarge)
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  • #721,622
  • Jan 18, 2023 4:09am Jan 18, 2023 4:09am
Quoting Teek
{quote} this is not scalping friend. And no, under the given circumstances it doesn't need a pullback. (actualy they never need to do anything) Look at the Daily chart, we had a pullback. I bought 1.195 and 1.21 three times. That was the pullback... I don't know how often I said "1.21 is key" last week.... Intraday: I even posted the Asia fakeout chart and said "this is not a short setup" and "the market wants to go higher, it reaches back into range to grab Discount" and I told peeps about the WHEN (BoJ Wednesday) We have a clean range expansion,...
Is there any significant difference between external and internal running of buyside? Are external runs cleaner, more straight-forward?
  • #721,623
  • Jan 18, 2023 4:11am Jan 18, 2023 4:11am
Quoting karankeni
how can gu go up considering cpi wasnt that promising?
When UK CPI was trending up, GU fall on each Actual > Consensus CPI release?
Why?
CPI up induce BOE to hike more Interest rate to tame CPI which boost the shrinking UK economy into a deeper recession.

Now the vice versa happens.
CPI fall for the 2nd consecutive months, indicating down the road BOE needs not to hike that much to tame CPI, which can translate the Uk economy wouldnt shrink that much compare to if Actual CPI would be more the consensus, which would induced BOE to hike longer and the negative effect would spill over the Uk economy.


So lower CPI = anticipated worst case scenario for Uk economic recession will not occur with higher probability, thus optimistic for Pound.
More time in the market, does not mean you trade better!
  • #721,624
  • Jan 18, 2023 4:14am Jan 18, 2023 4:14am
Quoting Fardeen1209
{quote} When UK CPI was trending up, GU fall on each Actual > Consensus CPI release? Why? CPI up induce BOE to hike more Interest rate to tame CPI which boost the shrinking UK economy into a deeper recession. Now the vice versa happens. CPI fall for the 2nd consecutive months, indicating down the road BOE needs not to hike that much to tame CPI, which can translate the Uk economy wouldnt shrink that much compare to if Actual CPI would be more the consensus, which would induced BOE to hike longer and the negative effect would spill over the Uk economy....
thank you so much for explaining
  • #721,625
  • Jan 18, 2023 4:18am Jan 18, 2023 4:18am
1.23 area looks like a good buy zone for 2450-25 etc
Attached Image (click to enlarge)
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Compulsions can be hard to resist
  • #721,626
  • Jan 18, 2023 4:20am Jan 18, 2023 4:20am
update
took partials on my longs, @1.2358 (at close of H1 candle)
Rest stays in and is well covered in profits.
I am sitting riskfree on GU now, see if we crack that weekly high...
greedy old man

should we come down again, the Level where I am looking for longs again should be pretty obvious on this chart
I am NOT shorting anything on this. We not done yet. We have an uptrend and I trade it it till it breaks.

1H chart:
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD_2023-01-18_11-18-57.png Size: 35 KB
you are not expected to understand this
  • #721,627
  • Jan 18, 2023 4:21am Jan 18, 2023 4:21am
Quoting Fardeen1209
{quote} When UK CPI was trending up, GU fall on each Actual > Consensus CPI release? Why? CPI up induce BOE to hike more Interest rate to tame CPI which boost the shrinking UK economy into a deeper recession. Now the vice versa happens. CPI fall for the 2nd consecutive months, indicating down the road BOE needs not to hike that much to tame CPI, which can translate the Uk economy wouldnt shrink that much compare to if Actual CPI would be more the consensus, which would induced BOE to hike longer and the negative effect would spill over the Uk economy....
I have no idea what u talking bout... hahaha.. but at least u got a reason...hahaha
  • #721,628
  • Jan 18, 2023 4:22am Jan 18, 2023 4:22am
now retrace...

Look for hourly support.

One can long from there.

2310..may be.

1.2400 should be the target for today.

I am now short, with stop 2370.

For 50 pips atleast.
Intraday only.
  • #721,629
  • Jan 18, 2023 4:24am Jan 18, 2023 4:24am
chart posted.

Look at 200 ema wherin I expect hourly support for NY session long trade.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM5.png Size: 16 KB
Intraday only.
  • #721,630
  • Jan 18, 2023 4:25am Jan 18, 2023 4:25am
Quoting Zairul
{quote} I have no idea what u talking bout... hahaha.. but at least u got a reason...hahaha
Simple Basic macro-economic
More time in the market, does not mean you trade better!
  • #721,631
  • Jan 18, 2023 4:32am Jan 18, 2023 4:32am
Quoting mysterio
{quote}closed pre news. waiting for higher ground
Sorry late posting

Still in supply and dollar tapped into a demand

Chanced it off a 26x0 imbalance

locked in
Attached Image (click to enlarge)
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  • #721,632
  • Jan 18, 2023 4:37am Jan 18, 2023 4:37am
Quoting Fardeen1209
{quote} Simple Basic macro-economic
I don't understand that stuff either!! I'm not smart enough to figure all those things out which is why I just go with what I see. One day I must put in the effort to see if I can learn more about fundamentals, but for now I'll just have to keep going like I am. One day.....one day!!
I am neither brave nor stupid...I am just a part time trader
  • #721,633
  • Jan 18, 2023 4:42am Jan 18, 2023 4:42am
Quoting Teek
{quote} this is not scalping friend. And no, under the given circumstances it doesn't need a pullback. (actualy they never need to do anything) Look at the Daily chart, we had a pullback. I bought 1.195 and 1.21 three times. That was the pullback... I don't know how often I said "1.21 is key" last week.... Intraday: I even posted the Asia fakeout chart and said "this is not a short setup" and "the market wants to go higher, it reaches back into range to grab Discount" and I told peeps about the WHEN (BoJ Wednesday) We have a clean range expansion,...
Thanks. I was keying on a comment that a 62-80% retracement was an ideal entry point but obviously have missed the bigger picture.
  • #721,634
  • Jan 18, 2023 4:44am Jan 18, 2023 4:44am
Price action within the Daily candle now reached 50%Fib

Guy
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  • #721,635
  • Jan 18, 2023 4:48am Jan 18, 2023 4:48am
Quoting Indiara
{quote} I don't understand that stuff either!! I'm not smart enough to figure all those things out which is why I just go with what I see. One day I must put in the effort to see if I can learn more about fundamentals, but for now I'll just have to keep going like I am. One day.....one day!!
Yep, learning economic is very hard and extremely boring. But I loved it and idk how but I was kinda a topper in Economics at A Level Cambridge
Earlier today shared a link to download

Quoting Fardeen1209
{quote} Thanks mate. Trading require a lot of hours (particularly months) just looking at the chart without taking any trade after spending months reading and understanding trading books, before starting making consistent and real money. A nice start can be here through this book. https://www.pdfdrive.com/currency-tr...158317615.html
No All rights reserved tho.

If Fed agents told ya where you found the book, idk you, you dont know me, right?
More time in the market, does not mean you trade better!
  • #721,636
  • Jan 18, 2023 4:48am Jan 18, 2023 4:48am
Quoting Indiara
{quote} That was a sudden drop! Trade protected now {image}
That was quite a wait, but TP hit for +60

Attached Image (click to enlarge)
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I am neither brave nor stupid...I am just a part time trader
  • #721,637
  • Jan 18, 2023 4:49am Jan 18, 2023 4:49am
Quoting Mitiblotch
Juse bought at 2241. I'll try to hold till 2430. See of it works out.
Out at 2362. Flowing!
  • #721,638
  • Jan 18, 2023 4:53am Jan 18, 2023 4:53am
Sonetime in the future GU will drop
  • #721,639
  • Jan 18, 2023 4:55am Jan 18, 2023 4:55am
Anyone Going long on UJ?
All Imbalance on 4hr tf closed
More time in the market, does not mean you trade better!
  • #721,640
  • Jan 18, 2023 4:56am Jan 18, 2023 4:56am
Quoting Fardeen1209
Anyone Going long on UJ? All Imbalance on 4hr tf closed
I'm still long on UJ.
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