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Cable Update (GBPUSD)

  • #725,581
  • Feb 2, 2023 6:09am Feb 2, 2023 6:09am
Will be back after EU announce theirs during NY session.
Might not trade GU today, interested in gold bulls/bears fighting session
The whole thing is ranging so hard.
Exhausted
  • #725,582
  • Feb 2, 2023 6:09am Feb 2, 2023 6:09am
Quoting SnailFX
Buy today Sell tommorow? 1.25?..
Didn't even touch 1.24..
If H4 fails to close above or at level where it opened, Bulls are done in my opinion.
  • #725,583
  • Feb 2, 2023 6:10am Feb 2, 2023 6:10am
Quoting Uru
{quote} Thank you very much, for the indicators, the last question! I read the news on these pages, Investing.com, FxStreet.com, and the pivot points on Livechats.co.uk, do you know any page that you can recommend? In your H1 chart, there are 5 candles in a sell trend, or Yesterday's candle at 9:00 PM, a 1-hour candle of 113 pips, now the candle that is forming is justified, how do you know the ones that have no news behind them? Do you know where to find this information? Thank you for your effort and dedication.
Look at the economic calendar like on this site to see which candles were formed largely by data reactions. Re: reading the news I pretty much read what is here as I am a technical trader not a fundamental trader but of course, I keep up with fundies as well by reading more broadly from a whole host of sites like the ones you mention, I don't stick to just one - to get a balanced viewpoint. There are so many. Good luck.
Trader with an Edge.
  • #725,584
  • Feb 2, 2023 6:11am Feb 2, 2023 6:11am
Short the same place twice. Are there days like this?

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  • #725,585
  • Feb 2, 2023 6:11am Feb 2, 2023 6:11am
what is better? buy fast or sell slowly?
  • #725,586
  • Feb 2, 2023 6:14am Feb 2, 2023 6:14am
...a wild few mins lol! 76.4% of y/day's rise reached @ current dly lo/current data react lo

1hr below
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Trader with an Edge.
  • #725,587
  • Feb 2, 2023 6:15am Feb 2, 2023 6:15am
Quoting maxi444
what is better? buy fast or sell slowly?
Probably neither at the moment. Wait for ECB rate hike to have some more information where price wants to go ultimately and then time your entry accordingly.
  • #725,588
  • Feb 2, 2023 6:15am Feb 2, 2023 6:15am
A quick glance through the MPC policy minutes.

They voted 7-2, bringing rate to 4%.

Point #10. Future rate projection. BOE did not confirm or deny further hikes. It just said, this 50 bps hike sort of in line with market-implied pricing, that market says they see rate topping out at around 4.5%. They're repeating the market expectation, no input from BOE. Market took it as bearish, probably.

Quote: "In the latest modal forecast, conditioned on a market-implied path for Bank Rate that rises to around 4½% in mid-2023 and falls back to just over 3¼% in three years’ time, an increasing degree of economic slack, alongside falling external pressures, leads CPI inflation to decline to below the 2% target in the medium term."

We'll have Bailey speaking in 30 mins.
  • #725,589
  • Feb 2, 2023 6:15am Feb 2, 2023 6:15am
Quoting SnailFX
{quote} Didn't even touch 1.24.. If H4 fails to close above or at level where it opened, Bulls are done in my opinion.
Should be coming back up soon. I'm treating this as a stop hunt + liquidity grab before going back up and break 1.24

Partial reason is
1) USD is still going down because my UJ short is still alive and going towards support.
2) Price broke through BB in 1H tf and a wick started forming from below after reaching previous resistance/liquid/order block zones around 1.227
Exhausted
  • #725,590
  • Feb 2, 2023 6:15am Feb 2, 2023 6:15am
Quoting SnailFX
{quote} Didn't even touch 1.24.. If H4 fails to close above or at level where it opened, Bulls are done in my opinion.
124 has been tested so many times and found it hard to crack above it. One wonders what needs to be done for a higher move.. maybe a drop below 120 and then a move ?
Insane in the Brain..
  • #725,591
  • Feb 2, 2023 6:16am Feb 2, 2023 6:16am
1.23100 is the support now.. If it holds
  • #725,592
  • Feb 2, 2023 6:17am Feb 2, 2023 6:17am
today market crazy af
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #725,593
  • Feb 2, 2023 6:17am Feb 2, 2023 6:17am
Free fall?...
  • #725,594
  • Feb 2, 2023 6:17am Feb 2, 2023 6:17am
Quoting SnailFX
{quote} Probably neither at the moment. Wait for ECB rate hike to have some more information where price wants to go ultimately and then time your entry accordingly.
for me is was better to sell, 60 pips , I m out
  • #725,595
  • Feb 2, 2023 6:18am Feb 2, 2023 6:18am
Quoting Robinhood1
Going to be showing off with a few swing trading predictions and then i am off. Gbpnzd: buying starts around 1.8870 eurgbp: selling starts around 0.8965 eurcad: selling starts around 1.4705
Gbpnzd long 1.8872
POSTMASTER
  • #725,596
  • Feb 2, 2023 6:19am Feb 2, 2023 6:19am
Quoting BeeTogether
{quote} 124 has been tested so many times and found it hard to crack above it. One wonders what needs to be done for a higher move.. maybe a drop below 120 and then a move ?
I'm afraid if Pound drops that low, it would be a miracle Pound recovers once more to 1.24 especially due to the news from UK.

Who knows..

I had some feeling they were testing 1.24 many times to confuse the people that price cannot break this level and the price storming through this R like nothing, but that thinking was wrong. There was actually a ton of pressure coming from up there in the end..

I thought.. why give people this many chances to Short from 1.24 right if this is the high of near the high?

The ways of the market..
  • #725,597
  • Feb 2, 2023 6:21am Feb 2, 2023 6:21am
...pot supp zone to 2262 under attack again, below that and coexistent with it a pot supp zone to 2254.

4hr below
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Trader with an Edge.
  • #725,598
  • Feb 2, 2023 6:23am Feb 2, 2023 6:23am
Hey Waoo,
what a Move i Missed my sell 1.2400 Fujjjj..
anyways for now its 1.2280 must be Closed below and stay below in 30M candle it will go down to 1.2210.
Good Luck Guys.
Market is Crazy.. but Down Move Looks Likely to be Continued Specially if BOE is Not Hawkish, that is for sure,
lets see what the Meeting minutes say..
Don't compare your Trades with Others
  • #725,599
  • Feb 2, 2023 6:23am Feb 2, 2023 6:23am
Quoting maxi444
{quote} for me is was better to sell, 60 pips , I m out
Good job! Keep going!
  • #725,600
  • Feb 2, 2023 6:27am Feb 2, 2023 6:27am
Quoting SnailFX
{quote} I'm afraid if Pound drops that low, it would be a miracle Pound recovers once more to 1.24 especially due to the news from UK. Who knows.. I had some feeling they were testing 1.24 many times to confuse the people that price cannot break this level and the price storming through this R like nothing, but that thinking was wrong. There was actually a ton of pressure coming from up there in the end.. I thought.. why give people this many chances to Short from 1.24 right if this is the high of near the high? The ways of the market..
honestly speaking I got trigger happy when we broke up past 12220 a few weeks ago and decided to take small profit. Had I kept it going I was looking to sell at 124
Insane in the Brain..
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