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Cable Update (GBPUSD)

  • #725,081
  • Feb 1, 2023 5:03am Feb 1, 2023 5:03am
Quoting Fardeen1209
{quote} Big guys are accumulating at wholesales price to later distribute it at retail price to retail guys buying for FOMC
So your thinking is that GU rises after the FOMC (ie weaker USD, FED is more inclined to reduce rates sooner or reduce rate of increase sooner)?
Is there something behind your thought process? Did I get your thought process correct?
  • #725,082
  • Feb 1, 2023 5:04am Feb 1, 2023 5:04am
Quoting Elysion
Should I BE my GU long or should I wait. It moves for a while, then pauses again
In my opinion, you will have to trade through the news (ADP) if you leave it open, as I'm not expecting the price to move until at least New York open.
I have closed mine, but you have to choose on your own haha.. GL! I might be wrong and price is going up as we speak.
  • #725,083
  • Feb 1, 2023 5:06am Feb 1, 2023 5:06am
Quoting SnailFX
{quote} In my opinion, you will have to trade through the news (ADP) if you leave it open, as I'm not expecting the price to move until at least New York open. I have closed mine, but you have to choose on your own haha.. GL! I might be wrong and price is going up as we speak.
Im in 5 pips profit but dmn it barely moves.
Exhausted
  • #725,084
  • Feb 1, 2023 5:07am Feb 1, 2023 5:07am
Quoting Elysion
{quote} How do you even scalp on h4 actually. 1 candle is 4 hours. I've bern trying h1 and its doing a ok for scalps but definitely not h4 for me
It's based on taste. I have thought about it.. so Pat is looking at H4 and is using 30M chart for entries I would imagine. Some traders look at Daily and are trading on Hourly TF.
  • #725,085
  • Feb 1, 2023 5:07am Feb 1, 2023 5:07am
Quoting Pat Chiko
{quote} UJ Partial TP 2 I think by the time we reach FOMc, GU still stuck there , while UJ is printing...{image}
UJ

Common UJ
Show me the money Gimme my money
Attached Image (click to enlarge)
Click to Enlarge Name: uj 062.jpg Size: 175 KB


P/S I've taken twice Partial TP for this pair.
The rest of these trades are free money.
Lunch and dinner are covered for today.
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #725,086
  • Feb 1, 2023 5:08am Feb 1, 2023 5:08am
Quoting SnailFX
{quote} Yeah. I mean I know it's the Fed today and didn't expect God knows what, but this today is just a disaster on GBP/USD. Literally, nothing (so far).
Every FED day is like this. The liquidity is during Asian and London and NY open, later in NY session is for volatility, we can easily see 200 pips move for FOMC conference. For the 3 red news (ADP, Manuf'n PMI and JOLT) before the FOMC i'm expecting GU to be still in the current range but spike both way to grab liquidity, or a Breakout to down, then up on FOMC.
Thats my idea, but will wait and see how things will develop and act accordingly
More time in the market, does not mean you trade better!
  • #725,087
  • Feb 1, 2023 5:10am Feb 1, 2023 5:10am
Quoting dantpm
{quote} So your thinking is that GU rises after the FOMC (ie weaker USD, FED is more inclined to reduce rates sooner or reduce rate of increase sooner)? Is there something behind your thought process? Did I get your thought process correct?
Nope, i'm expecting GU to fall for FOMC rate and statement (USD short TP) and rise for press conference
More time in the market, does not mean you trade better!
  • #725,088
  • Feb 1, 2023 5:11am Feb 1, 2023 5:11am
Quoting Pat Chiko
{quote} UJ Common UJ Show me the money Gimme my money{image} P/S I've taken twice Partial TP for this pair. The rest of these trades are free money. Lunch and dinner are covered for today.
What's for lunch? The whole kitchen?
  • #725,089
  • Feb 1, 2023 5:14am Feb 1, 2023 5:14am
Quoting Fardeen1209
{quote} Every FED day is like this. The liquidity is during Asian and London and NY open, later in NY session is for volatility, we can easily see 200 pips move for FOMC conference. For the 3 red news (ADP, Manuf'n PMI and JOLT) before the FOMC i'm expecting GU to be still in the current range but spike both way to grab liquidity, or a Breakout to down, then up on FOMC. Thats my idea, but will wait and see how things will develop and act accordingly
You could definitely be right and I agree we will remain in the range until Fed.
For the Fed part, you are also potentially right, because Fed is almost never one way street, rather up then down and then up again hahah..
  • #725,090
  • Feb 1, 2023 5:15am Feb 1, 2023 5:15am
Quoting SnailFX
{quote} 99% of the traders would have closed the trade right now having the price move above their entry in this particular situation with this kind of price action. You're not only not closing, you are adding even more.. Did I mention 99%?

Thanks for your view Snail.
Appreciate your comment.

I notice , everythime when it's ranging, I add more, it will start to move in my favour....
Maybe it's LUCK...
Just look at this GU, few second I add, she spike up ?....
Attached Image (click to enlarge)
Click to Enlarge Name: gu 103.jpg Size: 160 KB
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #725,091
  • Feb 1, 2023 5:15am Feb 1, 2023 5:15am
Quoting Fardeen1209
{quote} Nope, i'm expecting GU to fall for FOMC rate and statement (USD short TP) and rise for press conference
Okay, that is a tighter time frame than I had in mind.
What happens between now and the FOMC minutes?
  • #725,092
  • Feb 1, 2023 5:17am Feb 1, 2023 5:17am
Quoting Pat Chiko
{quote} Thanks for your view Snail. Appreciate your comment. I notice , everythime when it's ranging, I add more, it will start to move in my favour.... Maybe it's LUCK... Just look at this GU, few second I add, she spike up ?....{image}
What else to say but keep going buddy and keep being lucky!
  • #725,093
  • Feb 1, 2023 5:17am Feb 1, 2023 5:17am
...price now above the prev 1hr sw hi zone to asian session hi @ 2327/28....above here the prev 1hr/minor 4hr sw hi zone to 2337/38, = prev res = pot res, and actually it's in the 4hr part of that now @ the current dly hi,- it was previously a prev 1hr sw lo zone = prev supp = pot sbr. Fibs above too including that 61.8% discussed earlier.

1hr below
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 20 KB
Trader with an Edge.
  • #725,094
  • Feb 1, 2023 5:21am Feb 1, 2023 5:21am
Quoting SnailFX
{quote} In my opinion, you will have to trade through the news (ADP) if you leave it open, as I'm not expecting the price to move until at least New York open. I have closed mine, but you have to choose on your own haha.. GL! I might be wrong and price is going up as we speak.
Took 12 pips profit and Im out.
Left fews trades there with BE SL.
Exhausted
  • #725,095
  • Feb 1, 2023 5:24am Feb 1, 2023 5:24am
Quoting SnailFX
{quote} You could definitely be right and I agree we will remain in the range until Fed. For the Fed part, you are also potentially right, because Fed is almost never one way street, rather up then down and then up again hahah..
I'm a snail learner which got burned many times on FOMC day because when interest rate goes up, meaning the currency goes up (and I bought many times). However, it is completely false, because it appears too easy.
In fact the currency will appreciate only when the country's central bank released rate hike more than market expectation. For eg, USD will go up if FED release hike by 50bps instead of 25bps.
Why that? I searched into it and got the concept of price in which translates into "buy the rumour sell the news"
More time in the market, does not mean you trade better!
  • #725,096
  • Feb 1, 2023 5:28am Feb 1, 2023 5:28am
...some supply at that prev 1hr/minor 4hr sw hi zone=prev res = pot res then...4hr shows the area @/just above it has held both in the recent past.

4hr below
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 15 KB
Trader with an Edge.
  • #725,097
  • Feb 1, 2023 5:28am Feb 1, 2023 5:28am
Quoting Pat Chiko
{quote} Thanks for your view Snail. Appreciate your comment. I notice , everythime when it's ranging, I add more, it will start to move in my favour.... Maybe it's LUCK... Just look at this GU, few second I add, she spike up ?....{image}
Confirmed Pat is one of the big boys.
He moves the market
Exhausted
  • #725,098
  • Feb 1, 2023 5:30am Feb 1, 2023 5:30am
Quoting SnailFX
{quote} What else to say but keep going buddy and keep being lucky!
Most of my luck comes from observing and taking notes from Coreg and Headland post.
Both of them have sharp analysis and Headland post is to update the price status.

I'm lucky coz both of them are doing it for free on Foresight trades/analysis not Hind sight.
Not interested in Hindsight entries ,as those are just like watching boxing match replay....
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #725,099
  • Feb 1, 2023 5:35am Feb 1, 2023 5:35am
Quoting Elysion
{quote} Confirmed Pat is one of the big boys. He moves the market
Attached Image (click to enlarge)
Click to Enlarge Name: Shhs.jpg Size: 13 KB
I come from the future.
Karen X Mas Bonus 2025 All Time Profit: $15,104
  • #725,100
  • Feb 1, 2023 5:38am Feb 1, 2023 5:38am
Quoting Pat Chiko
{quote} Most of my luck comes from observing and taking notes from Coreg and Headland post. Both of them have sharp analysis and Headland post is to update the price status. I'm lucky coz both of them are doing it for free on Foresight trades/analysis not Hind sight. Not interested in Hindsight entries ,as those are just like watching boxing match replay....
Headland's post is definitely valuable but sadly I dont have the time to view it everytime during my trade.
Exhausted
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