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Cable Update (GBPUSD)

  • #725,201
  • Feb 1, 2023 9:08am Feb 1, 2023 9:08am
[quote=KareemAliFx;14309266]
Quoting maxi444
{quote} ya now look at my reply and read his comment there, he said “same” so must of edited his comment
Guilty, there was a type originally that I corrected.
  • #725,202
  • Feb 1, 2023 9:10am Feb 1, 2023 9:10am
I'm done cheesing the news volatility for sell. Took 3k out of it.
Now I'm long...short term scalp.
Scalping both directions for less than 5 - 20 pips.
Exhausted
  • #725,203
  • Feb 1, 2023 9:10am Feb 1, 2023 9:10am
wanted,

trade to copy
  • #725,204
  • Feb 1, 2023 9:13am Feb 1, 2023 9:13am
Quoting KareemAliFx
{quote} You don’t understand me at all then. I’ll break it down slowly for you then. Let’s say we have GBPUSD and we have USDJPY. Now they are both different, and if you pull up both charts they will not look the same. Yes I agree. BUT. I was saying since both these pairs share USD , if USD were to pump then both pairs will experience this. Clear ? If not then we are done here.
yes, but UK and Japan are very !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! different
  • #725,205
  • Feb 1, 2023 9:16am Feb 1, 2023 9:16am
Done hunting 10 pips x2 and +2 pips
FOMC was too much for me, and it past midnight here when FOMC start, good night, thanks for all analysis
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My broker must be happy from my trading at january, already game them commisson for $1000
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10000% Wannabe . -$3000 & -$4000
Gold Recovery All Time Profit: -$3,961
  • #725,206
  • Feb 1, 2023 9:17am Feb 1, 2023 9:17am
Quoting SnailFX
{quote} I'm interested in those Manufacturing numbers today. {image}
It never ended well past this point..
  • #725,207
  • Feb 1, 2023 9:19am Feb 1, 2023 9:19am
Quoting KareemAliFx
{quote} You don’t understand me at all then. I’ll break it down slowly for you then. Let’s say we have GBPUSD and we have USDJPY. Now they are both different, and if you pull up both charts they will not look the same. Yes I agree. BUT. I was saying since both these pairs share USD , if USD were to pump then both pairs will experience this. Clear ? If not then we are done here.
DXY is index of USD with six currencies (EUR,GBP,JPY,CAD,CHF,SEK). When USD is Strong or week index goes accordingly. This part is know to all.
But when there are orders of any of the six currencies, suppose EUR...you will see EURUSD is moving and to some extent DXY as well But that DXY movement is due to buying or selling of EUR against USD that's why index is moving to justify that EUR move.
If you are seeing DXY and expect that same threshold move in GBP...that will not happen, because that DXY move is nothing to do with GBP.

Regards.
  • #725,208
  • Feb 1, 2023 9:25am Feb 1, 2023 9:25am
A possible buy pressure

Resons:-
4HR Demand zone
BOS in Smaller TF

Only for Intraday
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  • #725,209
  • Feb 1, 2023 9:26am Feb 1, 2023 9:26am
I think I might have heart attack one day if I keep doing this. (cheesing the volatility for trades)
(Don't try this, it's fairly risky)

I should go and learn to swing trade for better health. This is stressful :/
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Exhausted
  • #725,210
  • Feb 1, 2023 9:27am Feb 1, 2023 9:27am
bulls trap
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yes yes yes
  • #725,211
  • Feb 1, 2023 9:27am Feb 1, 2023 9:27am
Quoting cchin
While waiting for the Fed, I scrolled back a few pages on this thread. I may be late to the party. There was a discussion I saw on the topic of discipline. Here's how I see it: I think in this day and age, discipline is a highly sought after commodity, priced at a premium. I don't know if you can buy it on the market, or off the market, the fact that it costs so much in itself (and so long to cultivate), is enough for most people to forgo and not acquire this very quality. I know it sounds like a cliche, but discipline is simply that very act of...

not just this day and age, and it has been necessary trait as far as I can think back in forex. It doesn’t cost but rather preserve and generate. Without it one is exposed to a wide array of variables and drawbacks are always round the corner.
  • #725,212
  • Feb 1, 2023 9:27am Feb 1, 2023 9:27am
USD/JPY near 129.21 S (look at H4 Chart).
  • #725,213
  • Feb 1, 2023 9:30am Feb 1, 2023 9:30am
Quoting Elysion
I think I might have heart attack one day if I keep doing this. (cheesing the volatility for trades) (Don't try this, it's fairly risky) I should go and learn to swing trade for better health. This is stressful :/ {image}
Stop it
You got heart attack and your broker got happy ending.
I thought it was me only using this messed up trading style, but i was wrong and we were wrong
10000% Wannabe . -$3000 & -$4000
Gold Recovery All Time Profit: -$3,961
  • #725,214
  • Feb 1, 2023 9:31am Feb 1, 2023 9:31am
Quoting Indigo45
{quote} DXY is index of USD with six currencies (EUR,GBP,JPY,CAD,CHF,SEK). When USD is Strong or week index goes accordingly. This part is know to all. But when there are orders of any of the six currencies, suppose EUR...you will see EURUSD is moving and to some extent DXY as well But that DXY movement is due to buying or selling of EUR against USD that's why index is moving to justify that EUR move. If you are seeing DXY and expect that same threshold move in GBP...that will not happen, because that DXY move is nothing to do with GBP. Regards....
yes, all the answers are on the chart, to use the GU chart for GU, the UJ chart for UJ, the DXY chart for DXY good luck!
  • #725,215
  • Feb 1, 2023 9:33am Feb 1, 2023 9:33am
Quoting Moty
bulls trap {image}
Or perhaps Bear Traps?
10000% Wannabe . -$3000 & -$4000
Gold Recovery All Time Profit: -$3,961
  • #725,216
  • Feb 1, 2023 9:33am Feb 1, 2023 9:33am
Quoting Indigo45
{quote} DXY is index of USD with six currencies (EUR,GBP,JPY,CAD,CHF,SEK). When USD is Strong or week index goes accordingly. This part is know to all. But when there are orders of any of the six currencies, suppose EUR...you will see EURUSD is moving and to some extent DXY as well But that DXY movement is due to buying or selling of EUR against USD that's why index is moving to justify that EUR move. If you are seeing DXY and expect that same threshold move in GBP...that will not happen, because that DXY move is nothing to do with GBP. Regards....
One more try. Not trying to cause trouble.

If you see a + significant move in the GU since the GU is part of the USDX you expect that the GU component of the USDX would go up a small bit and since this is in the denominator of the GU, the underlying impact is very small.

If at the same time, you see a + significant move in the GU you also see a + significant move in the USDX, some other currency is having a very big impact on the USDX. If the signs are reversed, the 'other currency' impacting the USDX requires an even larger impact.
  • #725,217
  • Feb 1, 2023 9:36am Feb 1, 2023 9:36am
Quoting BigNumbers
EURJPY SHORT {image}
Almost at TP
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My telegram: https://t.me/avidforex
  • #725,218
  • Feb 1, 2023 9:37am Feb 1, 2023 9:37am
Quoting ninabobo
Hi, I'm new to ff...I was hoping someone here would be kind enough to correct me if i'm wrong, thx Short UJ @130.1 -> 129.250 {image}

TP hit +85p
UJ done for today. waiting for FOMC

FOMC Price action preview!:
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  • #725,219
  • Feb 1, 2023 9:38am Feb 1, 2023 9:38am
Quoting dantpm
I always find it curious when GU and USDX trade in the same direction or UJ and USDX trade in the opposite direction. It always stops me from entering a trade.
Yeah it is fascinating these trades. When GU and DXY are in same direction, but if i'm already in a trade i'm look for close or move Sl to +ve. Or i stay out if i'm flat. But there are times when we see GU ranging while DXY up or vice versa, i saw this as very good opportunity to go long on GU = Big guys accumulation.
Now, regarding UJ and DXY i dont think UJ must rise if DXY is rising so i always looked for confluence in US02Y and/or US10Y= they worked almost 90% with UJ. In fact, UJ followed US Yield curve (due to the collegial trading style of japanese hedge funds/pension funds in govt bonds)

I guess how well a currency pair will follow USDX(DXY) directly or inversely depends on the volume the currency weigh in the US Dollar index. Eurousd is the inverse of DXY because Euro counts something like 62% on the DXY.

However, as days go by, for intraday trade GU i no longer used DXY caused the chart already speaks for itself. But still using US yield for UJ, Red Us economic data day(yield + DJIA- trying to see what the big guys doing)
More time in the market, does not mean you trade better!
  • #725,220
  • Feb 1, 2023 9:39am Feb 1, 2023 9:39am
Quoting Wavegarrick
{quote} Hi Iddd, I take it, you fall in the group of naked traders {image}A quick little story from the school of hard knocks: 2006 to 2008 - I started and followed Bloomberg and CNN. Man did I suck at trading. I lost deposit after deposit. 2008 - I started exploring Fx Street. I followed elioticians, harmonic traders, scalpers, long term traders. Information over load and I was jumping from system to system. I sucked at trading and was going nowhere. 2010 - I came across a pragmatic, charismatic, witty, funny prolific trader/poster. This...
top post....anyone that makes it through has a battle history to tell, excellent...well done mate
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