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Cable Update (GBPUSD)

  • #725,921
  • Feb 3, 2023 1:18am Feb 3, 2023 1:18am
...I think there will be a lot of traders long, particularly retail/daytraders waiting for the 'mythical' pullback to 2262 area as a target/1st target?
Trader with an Edge.
  • #725,922
  • Feb 3, 2023 1:21am Feb 3, 2023 1:21am
Quoting Headland
...I think there will be a lot of traders long, particularly retail/daytraders waiting for the 'mythical' pullback to 2262 area as a target/1st target?
I would be highly surprised to see Pound reaching 1.24 again let alone 1.27. But trading by "might" almost always sucks.

BOE hiked rates to 5.75% in 2008, but it's highly unlikely they will go above 4.5%. This should be the ceiling.
  • #725,923
  • Feb 3, 2023 1:24am Feb 3, 2023 1:24am
EU long taken from 1.08929 area after discovering rejection at H4 , critical Support area ,
SL: 15-16 pip max ,

Closing 99% manually with some minor gain,
And keeping one runner with positive sl ..

Take care Everyone
And stay blessed
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  • #725,924
  • Feb 3, 2023 1:27am Feb 3, 2023 1:27am
Bailey:

Q) Last year you said we’d be in recession for two years, but now it’s only one — what’s changed?
A) Gas prices have fallen a lot over the past couple of months.
And fixed mortgage rates are a bit lower.
Unemployment hasn’t risen as we feared it might. That all puts a few more Pounds back in people’s pockets

As said: they expect soft landing.
  • #725,925
  • Feb 3, 2023 1:27am Feb 3, 2023 1:27am
sell - 1.2210

target - 1.2180
Together we can be strongest
Vantage Return This Month: -97.0%
  • #725,926
  • Feb 3, 2023 1:30am Feb 3, 2023 1:30am
So much for the Buy thing.. that's why without the system, you are fuc'ing dead in FX.
  • #725,927
  • Feb 3, 2023 1:34am Feb 3, 2023 1:34am
Quoting palpite
sell - 1.2210 target - 1.2180

trade closed - 1.2187


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Together we can be strongest
Vantage Return This Month: -97.0%
  • #725,928
  • Feb 3, 2023 1:35am Feb 3, 2023 1:35am
... price has reached 4hr/dly part of prev 1hr/4hr/dly sw lo zone = prev supp = pot supp / wkly s2. This pot supp zone extends to 2168.

4hr below
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Trader with an Edge.
  • #725,929
  • Feb 3, 2023 1:38am Feb 3, 2023 1:38am
12180 first target before 12150 if the move down starts to slow down I might try a long. However overall target for me still 12050
Insane in the Brain..
  • #725,930
  • Feb 3, 2023 1:42am Feb 3, 2023 1:42am
Quoting Yngwie
Either retrace or continue down GU need to go up first. I think 1.2180 lowest
Ok that's it. last warning to bears lowest u can go today
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #725,931
  • Feb 3, 2023 1:47am Feb 3, 2023 1:47am
... were the bulls looking for liquidity re that last drop-down?
Trader with an Edge.
  • #725,932
  • Feb 3, 2023 1:47am Feb 3, 2023 1:47am
Attached Image (click to enlarge)
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Together we can be strongest
Vantage Return This Month: -97.0%
  • #725,933
  • Feb 3, 2023 1:59am Feb 3, 2023 1:59am
Quoting Robinhood1
{quote} Lets see, another push
eurgbp could perform a doble top or a slight high.

eurcad is still selling zone around 1.4705
POSTMASTER
  • #725,934
  • Feb 3, 2023 1:59am Feb 3, 2023 1:59am
OK guys. I may hang around for NFP and ISM.

I went in this morning to close all my GBPJPY and USDJPY in my portfolio. I'm flat on these yen crosses.

I've my Euro long intact. I've also have my Cable shorts. The 29 trades positions you saw here, here and here are still active. Floating P/L now at +$410. Broke even. I might just keep them open.

Now, I'll be taking a short ski break, tomorrow through mid-month. If I don't post after this, I'll be seeing you again on US CPI report, I think it's on 14 Feb.

Take care, and trade safe. Cheers, Kate.
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  • #725,935
  • Feb 3, 2023 2:02am Feb 3, 2023 2:02am
gong long here for 40 pips sl would be 15 pips
  • #725,936
  • Feb 3, 2023 2:02am Feb 3, 2023 2:02am
I'm seeing GBPUSD in a small downside pyramid. Let's see if London session reverses it back up a little. Here's my model.
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  • #725,937
  • Feb 3, 2023 2:06am Feb 3, 2023 2:06am
... it's not absolutely unseen, but it is very uncommon to have 7 consecutive bearish-bodied candles on 4hr, so far we have had 6, the 7th is forming now, - still 1hr 50+mins till it closes but so far looking bearish.

Bulls fell @ 1st hurdle on 1st attempt, another dip down marginally lower and now another try?

5min below
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Trader with an Edge.
  • #725,938
  • Feb 3, 2023 2:11am Feb 3, 2023 2:11am
Quoting Headland
... it's not absolutely unseen, but it is very uncommon to have 7 consecutive bearish-bodied candles on 4hr, so far we have had 6, the 7th is forming now, - still 1hr 50+mins till it closes but so far looking bearish. Bulls fell @ 1st hurdle on 1st attempt, another dip down marginally lower and now another try? 5min below {image}
When you're getting a spike down like an hour before LONDON open then this could very well be stop grabbing before major session. Often times, London reverses this, at least temporarily. We'll see
  • #725,939
  • Feb 3, 2023 2:16am Feb 3, 2023 2:16am
Quoting catch22
{quote} When you're getting a spike down like an hour before LONDON open then this could very well be stop grabbing before major session. Often times, London reverses this, at least temporarily. We'll see
I don't know what you mean by the London open - do you mean equities? Just to be clear: London forex desks open 0630am/0700am London time, (which is currently gmt,) and London equities open 0800am London time. in fact most if not all Uk asset-class markets are already open now. Forex and equities make up a big part of the total inter-asset class flows.
Trader with an Edge.
  • #725,940
  • Feb 3, 2023 2:19am Feb 3, 2023 2:19am
Quoting Headland
{quote} I don't know what you mean by the London open - do you mean equities? Just to be clear: London forex desks open 0630am/0700am London time, and London equities open 0800am London time, in fact most Uk asset-class markets are already open now. Forex and equities make up a big part of the total inter-asset class flows.
Yes, i mean 8.am London time, 20 minutes ago.
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