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Cable Update (GBPUSD)

  • #723,061
  • Jan 24, 2023 5:44pm Jan 24, 2023 5:44pm
Is it even possible to make a living off of the Asian session??
Geeezzz
  • #723,062
  • Jan 24, 2023 6:10pm Jan 24, 2023 6:10pm
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD BID 4H since 1400 2022-12-11 to 0600 2023-01-28.png Size: 73 KB
  • #723,063
  • Edited 7:50pm Jan 24, 2023 6:19pm | Edited 7:50pm
"מצחיק" LUSTig iou "גוג מגוג"
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM15 j25 mm.png Size: 39 KB

Instrument GBP/USD
Last update 6 hours ago 1 day ago 5 days ago
−23.68 % −20.32 % −26.86 % −18.98 % liquidity consumers
+23.68 % +20.32 % +26.86 % +18.98 % liquidity providers

guess they lost their shirt this morning market makers... even more BAAL of it
  • #723,064
  • Jan 24, 2023 6:35pm Jan 24, 2023 6:35pm
Quoting BrainBucks
Is it even possible to make a living off of the Asian session?? Geeezzz
I think brokers are doing allright...
Tall tails tell tales.
  • #723,065
  • Jan 24, 2023 6:41pm Jan 24, 2023 6:41pm
Quoting dantpm
{quote} What about the strikes in the UK, protests about energy costs, and the cost of the Ukraine/US - Russia war?
Personally, I would pay very little attention to the war part. They're just fearmongering.

On energy supply, various contingency measures, could be makeshift, could be permanent, are already in place, so very little effect on continent Europe. Just pay more, and gas tap will remain open. That explained why I did not part take in energy doomsday bet that many did in Q3 '22.

As long as lights on Wall Street and The City are on, it'll be another business as usual year for capital markets. Politicians come and go, messing things up along the way, money continue to be made regardless of who is "purportedly" in charge. If strikes bring down an administration, that's good. We'll have more opportunities. If they don't, there's still opportunities. Emotion triggers become market triggers, brilliant!
  • #723,066
  • Jan 24, 2023 6:43pm Jan 24, 2023 6:43pm
Quoting BrainBucks
Is it even possible to make a living off of the Asian session?? Geeezzz
I guess no, because at frankfurt, Asian high or low will be sweep. Unless there is red news for Japan like interest rate or policy meeting, then can easily make 200pip in 30 mins or nothing.
More time in the market, does not mean you trade better!
  • #723,067
  • Jan 24, 2023 6:44pm Jan 24, 2023 6:44pm
Quoting Yngwie
Long 1.2285
Close for 50 pips
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #723,068
  • Jan 24, 2023 6:53pm Jan 24, 2023 6:53pm
Quoting BrainBucks
Is it even possible to make a living off of the Asian session?? Geeezzz
That's a great obversation. I was waiting for someone to ask that question, or make that remark, a long.... long time ago.
  • #723,069
  • Jan 24, 2023 6:56pm Jan 24, 2023 6:56pm
Quoting BrainBucks
Is it even possible to make a living off of the Asian session?? Geeezzz
yes possible.

My trading style is more of asian based.

Strictly, you should get out of trades before LO
Intraday only.
  • #723,070
  • Jan 24, 2023 7:06pm Jan 24, 2023 7:06pm
sell - 1.2323

stop loss - 1.2345
Together we can be strongest
Vantage Return This Month: na
  • #723,071
  • Jan 24, 2023 7:38pm Jan 24, 2023 7:38pm
Quoting navk
{quote} yes possible. My trading style is more of asian based. Strictly, you should get out of trades before LO
there other pairs... nip on
  • #723,072
  • Jan 24, 2023 8:22pm Jan 24, 2023 8:22pm
Currently long usdjpy and cable. Currently trend of cable remains down.
  • #723,073
  • Jan 24, 2023 8:50pm Jan 24, 2023 8:50pm
Quoting BrainBucks
Is it even possible to make a living off of the Asian session?? Geeezzz
1. What standard of living do you dream of?
2. how much do you invest in one position to squeeze the ‘make a living’ amount that you want out of the Asian session?

There’s a lot more questions about this subject that you need to ask yourself before you asking the public forum.

you can also ask ChatGPT
  • #723,074
  • Jan 24, 2023 8:52pm Jan 24, 2023 8:52pm
Quoting BrainBucks
Is it even possible to make a living off of the Asian session?? Geeezzz
if the trading style is "scalping" , money can be made in all sessions.
otherwise, Asian session (most of the time) is in slowest and lowest range of the day.

here is a session(8H) direction and range on M15 to compare sessions.

Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter 4077.png Size: 45 KB


to me (not scalper), it's not worth trading. I wait for range breakout within LO.

cheers,
"the public is not yet ready for it" W.D. GANN
  • #723,075
  • Jan 24, 2023 8:54pm Jan 24, 2023 8:54pm
Quoting DubaiFX
{quote} Nice, Remember, “Beware the fury of a patient man.” —John Dryden Resistance is now at 1.2350-60 if we get there today i will short again.
its time to Short the Pound for me atleast,
Sold 1.2330 was good enough retracement for me,
first Target 1.2280, will close half and let the Rest Run for 1.2210
of course of something changes i will close but that is the Plan,


" Plan your Trade then Trade Your plan"--Me..

Few Reasons, why i am not Buying POUND..

The Confederation of British Industry's order book balance slumped by 11 points from a month earlier to -17 in January 2023, the weakest since February 2021 and worse than market expectations of -8, according to the CBI’s latest Industrial Trends Survey. The latest reading also suggested total order books remained below normal levels for a sixth consecutive month, with the share of firms reporting that orders or sales would constrain output hitting its highest since April 2021. The export orders sub-index declined by another three points to -22, the lowest since February 2021, while the gauge of manufacturing output during the three months to January was little-changed. On the price front, manufacturers' price expectations for the next three months weakened to the lowest since September 2021 (+41 vs +52 in December), as global supply chain pressures, labor shortages and energy costs eased. source: Confederation of British Industry
.

Central bank meetings—the Fed, BoE and ECB. This is like a trifecta in horse racing and you have to be brainy to calculate odds.
So far today the better flash PMI readings in the eurozone are driving the euro up against the GBP and Swiss franc (but not the yen), helping build the ongoing opinion that the ECB will do only 25 bp next week, whatever the hawks and chief Lagarde say. This is like the futures and swaps markets in the US betting the Fed will have stopped hiking and will be cutting by next fall. Even the marginal PMI gain in the UK has driven some analysts to say out loud that maybe the BoE does 25 bp instead of 50 bp, too.
.
.
“Rivers know this: there is no hurry. We shall get there some day.” —A.A. Milne
Don't compare your Trades with Others
  • #723,076
  • Edited 10:12pm Jan 24, 2023 9:21pm | Edited 10:12pm
US Economy

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM15 j25 mm.png Size: 44 KB

Cam Levels
https://www.livecharts.co.uk/Members...rex_pivots.php
  • #723,077
  • Jan 24, 2023 9:25pm Jan 24, 2023 9:25pm
Quoting Houtbay
Currently long usdjpy and cable. Currently trend of cable remains down.
How can you long Usdjpy and Gbpusd when they are oppositely correlating?
  • #723,078
  • Jan 24, 2023 9:48pm Jan 24, 2023 9:48pm
It goes without saying that taking the other side of Cable trade looks pretty lucrative at the moment.

Trades repositioning is likely to go on into, and possibly during FOMC. Bailey may ask, anyone agree to a 25bps hike? I expect more than three to vote against next week. Reading Cable sentiment medium to long term, is all about reading between the lines, on how many increasingly dissenting votes during each meeting. BOE might not need to cut rates. Any shocks on gilts should be sufficient to send Sterling tumbling.

If short term rebalancing moves go through, say renewed interests from dealers and funds buying dollar, then I'm not surprised to see Dixie climbing back up to 103-104 level. Again, FOMC trigger. That might be short-lived though, unless Powell undo the hawks.

Market is calm and quiet at this moment. What I refrain from doing, is to try to "extract" volatility from some not so volatile pair. Doing so, unwisely, a secret recipe for disaster. That would probably be more unpleasant than riding through these unpleasant hours.

Yes, I'm still short on Cable. Status on my 20-odd short trades: P/L at -$677.
  • #723,079
  • Jan 24, 2023 9:56pm Jan 24, 2023 9:56pm
Few UK Economics, to Consider before you make any Decision,
it will be anyone's Guess what the Hell BOE, ECB or even FED will do or Might Say,
but Fundamentals Don't lie.
Now let's Review them as we go...
here are Few Charts to make it Simple from trading economics,
as saying Goes “If history were taught in the form of stories, it would never be forgotten.”— Rudyard Kipling
.
a Chart is Worth Thousand Words..
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSDDaily.png Size: 14 KB
Click to Enlarge Name: GBPUSDH4.png Size: 18 KB
Click to Enlarge Name: UK CBI.jpg Size: 42 KB
Click to Enlarge Name: GBP.jpg Size: 140 KB
Don't compare your Trades with Others
  • #723,080
  • Jan 24, 2023 10:01pm Jan 24, 2023 10:01pm
Quoting cchin
Trades repositioning is likely to go on into, and possibly during FOMC. Bailey may ask, anyone agree to a 25bps hike? I expect more than three to vote against next week. Reading Cable sentiment medium to long term, is all about reading between the lines, on how many increasingly dissenting votes during each meeting. BOE might not need to cut rates. Any shocks on gilts should be sufficient to send Sterling tumbling. If short term rebalancing moves go through, say renewed interests from dealers and funds...
Well Said cchin..
a True Fundamentalist.
Hats Off..


“Neither a wise man nor a brave man lies down on the tracks of history to wait for the train of the future to run over him.”
— Dwight D. Eisenhower
Don't compare your Trades with Others
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