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Cable Update (GBPUSD)

  • #723,541
  • Jan 26, 2023 6:35am Jan 26, 2023 6:35am
In an hour, we'll have 5 economic data for US.

  1. Chicago Fed - a precursor to next week's ISM
  2. Core PCE - Fed's favourite inflation gauge, sorry CPI
  3. Durable goods - an extension to retail sales, but more of an early indicator for next month's PPI
  4. GDP - a growth indicator, not so useful nowdays, despite previously two consecutive negative quarters, failed to usher in recession
  5. Job claims - predating next month's NFP establishment survey

Or, "in a hypothetical scenario~", tension in Ukraine get escalated, and suddenly all these data become meaningless.... as investors flight to safety, USD strengthens.

  • #723,542
  • Jan 26, 2023 6:36am Jan 26, 2023 6:36am
Quoting Pat Chiko
{quote} GU News impact may want to break this TL. GBP has been holding its own against the euro and the dollar. GU has been hitting a glass ceiling. Without a strong rally above 1.2430, we should be prepared for a deeper local correction towards 1.200. Waititng for impact.{image}
Just For Learning:
Did you open this aggressive position at strong Resistance. While I see three H4 Bull candles... Can you specify the reason or trade setup.
Thanks in advance
  • #723,543
  • Jan 26, 2023 6:38am Jan 26, 2023 6:38am
Retest back to 2345 area and maybe the last rally up to complete the whole swing Daily abc expanded flat

Will see how 2345 reacts before going for a long

Photo from yesterday

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1 re-entry.png Size: 24 KB
Follow The Markets Structure - Patience and Discipline
  • #723,544
  • Jan 26, 2023 6:44am Jan 26, 2023 6:44am
Quoting Pat Chiko
{quote} GU News impact may want to break this TL. GBP has been holding its own against the euro and the dollar. GU has been hitting a glass ceiling. Without a strong rally above 1.2430, we should be prepared for a deeper local correction towards 1.200. Waititng for impact.{image}
GU

I've closed all my remaining position. I don't want to stand infront of something I don't know their force is.
In no position and trying to draw to new analysis on news impact on GU.
(Refer to Goreg's chart yesterday)
Attached Image (click to enlarge)
Click to Enlarge Name: gu 070.jpg Size: 157 KB
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #723,545
  • Jan 26, 2023 6:44am Jan 26, 2023 6:44am
NZDUSD Sitting on its perch

Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSDH1.png Size: 18 KB
Follow The Markets Structure - Patience and Discipline
  • #723,546
  • Jan 26, 2023 6:48am Jan 26, 2023 6:48am
Slow progress in this USDCAD trade from yesterday
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADH1-2.png Size: 23 KB
Follow The Markets Structure - Patience and Discipline
  • #723,547
  • Jan 26, 2023 6:49am Jan 26, 2023 6:49am
Quoting noox
{quote} You have many great posts but I think this is the post of the year. (I know it's only January.)
russenknecht.
fortis fortuna adiuvat
  • #723,548
  • Jan 26, 2023 6:53am Jan 26, 2023 6:53am
Quoting Indigo45
{quote} Just For Learning: Did you open this aggressive position at strong Resistance. While I see three H4 Bull candles... Can you specify the reason or trade setup. Thanks in advance
Interestingly if you look at Pipfarm post , just below your post is an excellent representation on to handle trade analysis.
Look at his chart.... closely and in detail.
It may look simple but you have to understand to appreciate it.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #723,549
  • Jan 26, 2023 6:53am Jan 26, 2023 6:53am
Quoting SnailFX
{quote} Thanks, noted! I am very excited to see if that Wave C of the Correction Wave 4 is going to play out or not. I think we're having a really nice 1,2,3,4,5 Wave developing. This could be huge! 5th Wave should lead us to parity no? On your Chart, shouldn't that be Wave (E)? Meaning Wave (D) starting from the Black Line I put on the chart? I just started learning! On your chart, the right side, we can see that Wave 4 has failed. If we pressume that (A) was 1, (B) was 2 etc. It failed because the "4th Wave" entered the territory...
SnailFX, I missed your post yesterday, sorry. Here is my take on how I see it. Check your wave (3) and compare it to the rules.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot 2023-01-26 072907.jpg Size: 168 KB
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Always trade your own plan...I don't provide trading signals.
  • #723,550
  • Jan 26, 2023 6:54am Jan 26, 2023 6:54am
Quoting GODofMC
Closing All buy on EU/GU. Maybe reenter near NY open. Only got small pips, but worth 1/7 my monthly salary {image}
I think i wi stay out, seems mixed data.
Price could be UP and Down fast taking out both SL .
If there is any chance im waiting for retracement after data release
While i think this data will be all red and EU/GU will Fly, but who knows, maybe All people waiting for it red, that is why slpw movement today
10000% Wannabe . -$3000 & -$4000
Gold Recovery All Time Profit: -$3,961
  • #723,551
  • Jan 26, 2023 6:55am Jan 26, 2023 6:55am
It's now about who's got the balls to SHORT from the round number
  • #723,552
  • Jan 26, 2023 6:56am Jan 26, 2023 6:56am
Quoting GODofMC
{quote} I think i wi stay out, seems mixed data. Price could be UP and Down fast taking out both SL . If there is any chance im waiting for retracement after data release
Heaven knows I second this motion
  • #723,553
  • Jan 26, 2023 6:57am Jan 26, 2023 6:57am
Quoting Coreg2004
{quote} SnailFX, I missed your post yesterday, sorry. Here is my take on how I see it. Check your wave (3) and compare it to the rules. {image} {image}
Thank you very much Coreg!
I'll read this after the whole news madness is over.
  • #723,554
  • Jan 26, 2023 7:08am Jan 26, 2023 7:08am
Quoting SnailFX
{quote} Thank you very much Coreg! I'll read this after the whole news madness is over.
SnailFX, check this link, might be helpful.
https://forex-indicators.net/cycle-i...tt-waves/rules
Always trade your own plan...I don't provide trading signals.
  • #723,555
  • Jan 26, 2023 7:09am Jan 26, 2023 7:09am
Quoting GODofMC
{quote} Yup, me starting to open order and seeing chart less and getting back almost half of my full lossess from last year on this month From about -2900 to -1700 in this month
From -2900 to -1700 to -1400

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20230126_195510.jpg Size: 481 KB
10000% Wannabe . -$3000 & -$4000
Gold Recovery All Time Profit: -$3,961
  • #723,556
  • Jan 26, 2023 7:11am Jan 26, 2023 7:11am
Drop mf
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_2023-01-26-15-11-04-122-edit_net.metaquotes.metatrader4.jpg Size: 639 KB
yes yes yes
  • #723,557
  • Jan 26, 2023 7:16am Jan 26, 2023 7:16am
Quoting Pat Chiko
{quote} Ok Bro. Take care. Walk on the left side of the pavement. You're still in UK...
walking away way to the left lol
Insane in the Brain..
  • #723,558
  • Jan 26, 2023 7:17am Jan 26, 2023 7:17am
Quoting Moty
Drop mf {image}
Maybe after the data in a few mins
Insane in the Brain..
  • #723,559
  • Jan 26, 2023 7:20am Jan 26, 2023 7:20am
Got a small long gbpusd, aiming at 1,2468.. it's more of a just for kicks trade.
  • #723,560
  • Jan 26, 2023 7:20am Jan 26, 2023 7:20am
Quoting Pat Chiko
{quote} GU I've closed all my remaining position. I don't want to stand infront of something I don't know their force is. In no position and trying to draw to new analysis on news impact on GU. (Refer to Goreg's chart yesterday){image}
GU

Scalp LONG
Attached Image (click to enlarge)
Click to Enlarge Name: gu 072.jpg Size: 106 KB
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
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