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Cable Update (GBPUSD)

  • #722,881
  • Jan 24, 2023 5:47am Jan 24, 2023 5:47am
buy - 1.2321

stop loss - 1.2290
Together we can be strongest
Vantage Return This Month: na
  • #722,882
  • Jan 24, 2023 5:47am Jan 24, 2023 5:47am
Though data from US may or may not have impact today, I think cable will fall more today or throughout the day, as I see DXY positioned to reach 102.40/50 area today before it back off
  • #722,883
  • Jan 24, 2023 5:48am Jan 24, 2023 5:48am
Quoting Robinhood1
{quote} It the case it becomes a dictatorship oppossed to democracy. Lets day we are very hipocritic by nature but excrsice dictorship when we take the mask off.
Every thread is a mini-dictatorship within a larger forum dictatorship: The thread starter has the power to SILENCE anyone that he chooses, at his whim, and the forum owner has the power to banish anyone that he chooses, at his whim.
To free Gazans of Hamas, use whatever it takes.
  • #722,884
  • Jan 24, 2023 5:49am Jan 24, 2023 5:49am
Quoting pipcenturion
{quote} Price dropped after the news release. If I am reading that "correctly" they just said BUY! BUY!! BUY!!!
A couple of details, everyone already knows we are in a recession and in a recession you aren't supposed to buy anything you are supposed to preserve cash and cash flow.
  • #722,885
  • Jan 24, 2023 5:50am Jan 24, 2023 5:50am
Quoting dantpm
{quote} What signal is suggesting 122 to you?
no signal just working on previous support and resistance areas
Insane in the Brain..
  • #722,886
  • Jan 24, 2023 5:53am Jan 24, 2023 5:53am
I've fewer reasons to be optimistic on the UK economy. Pure speculation, so don't take my direction rants too seriously.

I saw couple posts pointing to a below parity Cable. I'm not promoting that, but I think parity is not too far-fetched of an idea. Pound bashing generate more attention than pound buying. The day £1 = $1 will arrive, but I'll not be betting it coming anytime soon, unless of course Sunak messes up, which is a possibility.

Looking at how Boris is back in the scene. It's only a matter of time before team Sunak get ousted from No.10. This Sterling had always been volatile at the mercy of fiscal policymakers, when politicians politicking policies. We had that Black Wednesday. We had that Brexit, dumped twice, three months apart. We had corona sell-off. We had Truss' fiscal fiasco.

Speaking about corona dip, I drew a line from Mac '20 low to Feb '21 high, forming several of those Fib retrace levels. It seems like Cable rally post-Truss recovery had stalled at 61%, the usual suspect on weekly. Now, if I really wanted to sell this Cable, which I did, I could simply say, look.... what are those peaks formation on H4? The problem is, I'm not really a technical person. I first look at chart, then back to the fundamentals, back to charts again, and say, .... nah.... let's not overcomplicate things with lines, I'll stick with the fundamentals. Not getting too complacent by relying on what charts told me.
Attached Image(s) (click to enlarge)
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  • #722,887
  • Jan 24, 2023 5:53am Jan 24, 2023 5:53am
Quoting BeeTogether
{quote} no signal just working on previous support and resistance areas
How do you prioritize (important, unimportant and ignore?) support and resistance zones?
  • #722,888
  • Jan 24, 2023 5:55am Jan 24, 2023 5:55am
Be carefull it will fall more & more
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REDA_EL_HARAOUI
ELITE MOROCCO SNIPER All Time Return: 27.5%
  • #722,889
  • Jan 24, 2023 5:59am Jan 24, 2023 5:59am
Quoting cchin
I've fewer reasons to be optimistic on the UK economy. Pure speculation, so don't take my direction rants too seriously. I saw couple posts pointing to a below parity Cable. I'm not promoting that, but I think parity is not too far-fetched of an idea. Pound bashing generate more attention than pound buying. The day £1 = $1 will arrive, but I'll not be betting it coming anytime soon, unless of course Sunak messes up, which is a possibility. Looking at how Boris is back in the scene. It's only a matter of time before team Sunak get ousted from No.10....
What about the strikes in the UK, protests about energy costs, and the cost of the Ukraine/US - Russia war?
  • #722,890
  • Jan 24, 2023 6:00am Jan 24, 2023 6:00am
Quoting Reda.el
{image}
How do you read this indicators? can i get an insight of it?
#Stay blue. /swinger/scalper/
  • #722,891
  • Jan 24, 2023 6:04am Jan 24, 2023 6:04am
Attached Image (click to enlarge)
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  • #722,892
  • Jan 24, 2023 6:04am Jan 24, 2023 6:04am
Quoting dantpm
{quote} How do you prioritize (important, unimportant and ignore?) support and resistance zones?
i look for break out in trends. Usually tested areas. As you may have noticed I don’t post much about longs street we broke north of 123. As this area to me is still a bit unknown from recent movement.
Insane in the Brain..
  • #722,893
  • Jan 24, 2023 6:04am Jan 24, 2023 6:04am
Quoting Ehminiz
{quote} How do you read this indicators? can i get an insight of it?
Level 10 - oversold zone
Level 90 - Oberbought zone
LEVEL 80 - Entry point for sells
Level 20 - Entry point for buys
Level 35 and 75 - s&d zone
The line in the middle 50 is a fibo golden zone for partial closess
REDA_EL_HARAOUI
ELITE MOROCCO SNIPER All Time Return: 27.5%
  • #722,894
  • Jan 24, 2023 6:06am Jan 24, 2023 6:06am
123 a big supporting area right now. Have a feeling if we break below it could be a big break. Now is a good time before NYO to make that break
Insane in the Brain..
  • #722,895
  • Jan 24, 2023 6:08am Jan 24, 2023 6:08am
Quoting DrDave
{quote} Price already dropped down into the sellside liquidity, so this COULD be a spot for the MM to hang out for a bit and then create an order block to go up to fill the gap. There would then be the stops below that swing low of all the buyers, and then when MM finishes with the gap, drop down to the next "significant" liquidity level. {image}
I do not have a pattern for GU but as EU will drop i beleive cable will too. The gap might have been closed

Lets see

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POSTMASTER
  • #722,896
  • Jan 24, 2023 6:09am Jan 24, 2023 6:09am
Quoting Robinhood1
{quote} I do not have a pattern for GU but as EU will drop i beleive cable will too. The gap might have been closed Lets see {image}
Dr. You are considering a gap like the spike from above, yes quite good , but in order to have a true gap waves must not meet
POSTMASTER
  • #722,897
  • Jan 24, 2023 6:13am Jan 24, 2023 6:13am

TODAY(1/24/2023)
4°C

Light rain
Feels like 4°C
High 6°C Low 0°C
Barometer 103.3kPa
Humidity 100%
Sunrise 7:54AM
Sunset 4:55PM
  • #722,898
  • Jan 24, 2023 6:14am Jan 24, 2023 6:14am
No pips for me today. Sudden drops like in GU today is what my method can struggle to take advantage of. That's ok though as it is not the main stay of my method. It is another day tomorrow and I will keep waiting until the right trade comes along for me to pounce on

Sorry for any disruption that I may have caused earlier on, but I will always ask questions (about trading) if I don't understand something. That's how I (and most of us) learn. As long as any answers are civil and are also on topic then perhaps others can learn too. Being personal with me is not acceptable though.

Sleepy time for me now, back tomorrow and perhaps Uncle Frankie will behave!

----- He (or she!) who is afraid to ask, is ashamed of learning.------Danish proverb
I am neither brave nor stupid...I am just a part time trader
  • #722,899
  • Jan 24, 2023 6:16am Jan 24, 2023 6:16am
Quoting dantpm
{quote} A couple of details, everyone already knows we are in a recession and in a recession you aren't supposed to buy anything you are supposed to preserve cash and cash flow.
I believe at the start of a recession is where we dont buy assets cause more fall is yet to come. In deep recession, we buy like crazy cause every day will be black Friday, all securities and assets will be valued at discounted price.
More time in the market, does not mean you trade better!
  • #722,900
  • Jan 24, 2023 6:19am Jan 24, 2023 6:19am
Quoting Indiara
No pips for me today. Sudden drops like in GU today is what my method can struggle to take advantage of. That's ok though as it is not the main stay of my method. It is another day tomorrow and I will keep waiting until the right trade comes along for me to pounce on Sorry for any disruption that I may have caused earlier on, but I will always ask questions (about trading) if I don't understand something. That's how I (and most of us) learn. As long as any answers are civil and are also on topic then perhaps others can learn too. Being...
No one literally no one has the right to question someone on his/her personal life/issues unless that someone is mummy
More time in the market, does not mean you trade better!
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