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Cable Update (GBPUSD)

  • #726,561
  • Feb 6, 2023 9:54am Feb 6, 2023 9:54am
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yes yes yes
  • #726,562
  • Feb 6, 2023 9:55am Feb 6, 2023 9:55am
Gold short term trend up, long term trend down, Gbpusd trend up
  • #726,563
  • Feb 6, 2023 9:56am Feb 6, 2023 9:56am
added buy
targeting 1.20700
  • #726,564
  • Feb 6, 2023 10:00am Feb 6, 2023 10:00am
Quoting Waveskierrob
{quote} I'm never wrong because I never predict ...
Nice Good Strategy.
Now lets focus on Powell again this week Powell will again Bring the Dollar to 102 area,
and trust me 103.30-50 is very sritical if it passes then medim term we are looking at 105 then 108..
that wll be a lof of Pips specially in Pound because coming news this week and Specially Next week could Brng Pound to 1,18
and i love when the Fundamentalists are right..
and most if the Time they are..
i work for them so i know, i am jnior analyst my seniors are much more experience,
i still remember when i posted they were buying Dollar for no reason, i din't knew the Reason 2 days later i got the Report and it was Clear why they bought when USD index was lookng like free fall. below 101.
i was not confident but i followed their lead and made almost 3500 pips in 2 weeks.
anways be careful know Pound s Gong Down but it may Spike on Powel Speech and it could be 100 pips move and then i will sell after the Speech, when the Dust is settled..
comng US Sentiment data specially on Pound is telling us to short but i willw ait for 1.2150
not selling when it is over sold in 4 hour chart also.
i maybe wrong it can dip another 100 pips but Looking at USDX looks like retracement time,
and i am verymuch interested in GBPNZD and EURNZD.
coming data from NZD is Good sentiment is not all that bad COTreport showed 17K contract added last week on Long NZD,
so best par for me s GBPNZD and EURNZD.
i will go for 100 pips from 1.92 to 1.91 then if it moves lower then 1.90 final target.
with EURNZD sold at 1.7100 looking for 100 pips drop.
today's Euro Zone data was not good at all..
i will post Sentiment chart made in R
hopefull it will clear thing upo for most traders because you guys dont like to read 28 pages of reports from institutions and tradingeconomics.com but am paying 200$ a month and i will share here,
charts always makes sensethat is why we are focused in Data Visualization softwares like Python and R etc..
i personally took 3 months online course of R so can convert the data into charts my Self.
thank you..
have a Nice day..
Don't compare your Trades with Others
  • #726,565
  • Feb 6, 2023 10:02am Feb 6, 2023 10:02am
Let get crazy. Long 1.2010
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #726,566
  • Feb 6, 2023 10:06am Feb 6, 2023 10:06am
Once we are able to break 1.20053 now then I.18869 is certain before the end of the week. And 1.11739 before the end of month.

That’s where where the market is likely to hunt.
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My telegram: https://t.me/avidforex
  • #726,567
  • Feb 6, 2023 10:09am Feb 6, 2023 10:09am
Quoting BigNumbers
Once we are able to break 1.20053 now then I.18869 is certain before the end of the week. And 1.11739 before the end of month. That’s where where the market is likely to hunt. {image}


1.20000 is no longer significant because dem don chop am tire. So I’m anticipating price to break through easily.
My telegram: https://t.me/avidforex
  • #726,568
  • Feb 6, 2023 10:10am Feb 6, 2023 10:10am
Quoting DrDave
{quote} EUR/GBP is still suspiciously signalling Short on Hourly, I think you you will get a better read by looking at EURSUD, GBPUSD, and EURGBP together than just 1 or 2 of them.
This is actually what I'm doing and how I choose whether to trade Pound or Euro.

For example, EUR/GBP signalled Short which means Pound will either do better against USD then Euro (in the means of giving the stronger Buy), or will depreciate less vs USD then Euro which is the case today.

Setup I have is:

EUR/USD, GBP/USD, USD/JPY and EUR/GBP.

Just lately did I realize how to combine EUR/GBP also in the mix with these three.

Thanks Dave!
  • #726,569
  • Edited 11:08am Feb 6, 2023 10:13am | Edited 11:08am
good morning amigos anybody got there 50 pr cents.....

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  • #726,570
  • Feb 6, 2023 10:22am Feb 6, 2023 10:22am
this is good strategy
5m sp combined with 1m sp
atr is 7 multiplier is 2
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yes yes yes
  • #726,571
  • Feb 6, 2023 10:29am Feb 6, 2023 10:29am
Quoting greenpips4
added buy targeting 1.20700
Good TP. Safe target
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #726,572
  • Edited 10:48am Feb 6, 2023 10:30am | Edited 10:48am
Quoting DubaiFX
{quote} Nice Good Strategy. Now lets focus on Powell again this week Powell will again Bring the Dollar to 102 area, and trust me 103.30-50 is very sritical if it passes then medim term we are looking at 105 then 108.. that wll be a lof of Pips specially in Pound because coming news this week and Specially Next week could Brng Pound to 1,18 and i love when the Fundamentalists are right.. and most if the Time they are.. i work for them so i know, i am jnior analyst my seniors are much more experience, i still remember when i posted they were buying...
Good on yea... but will stick with my suck it and see...
  • #726,573
  • Feb 6, 2023 10:36am Feb 6, 2023 10:36am
Quoting Robinhood1
{quote} Individual pairs have different velocities even though being the same pair. Most of the time one pair follows another except when there is a major turning point where all same currencies act together. At this precise moment i am trying to work out the most inmediate performance of eur/gbp, eur/nzd, gbp/nzd and gbp/cad. I think eur/nzd & gbp/nzd could turn down together. This weakens eur & gbp. Eur more as gbp is already weakening eur. Gbp/cad, i will take it out of the mix as it is more confusing. eur/nzd for a reversal while gbp/nzd for...
I think that you are trying to use the pairs in a way that is not suitable. You can only get strength of one currency relative to another currency. If you do your analysis by combining multiple currencies that have a common currency, you are able to determine which PAIR FROM THAT GROUP, has the strongest and weakest currency, so is the preferred pair to trade FROM THAT GROUP, at that moment, on that time frame.

Here is a simple example.
Note that all of the pairs must be evaluated using the same time frame.
I you think a pair is ranging on a specified time frame, then you need to move to a time frame where the direction is clear.
You can, and usually will, find that the preferred pair to trade is different for different time frames at any given moment.

You have an interest in trading EURGBP, GBPNZD, and EURNZD.
When all 3 pairs are moving in the same direction, EURNZD is the preferred pair to trade. Because relatively speaking for the three currencies EUR, GBP, and NZD, EUR is these strongest and NZD the weakest.
When EURNZD and GBPNZD are moving in the same direction and EURGBP is moving opposite, GBPNZD is the preferred pair to trade.
When EURNZD and EURGBP are moving in the same direction and GBPNZD is moving opposite, EURGBP is the preferred pair to trade.
To free Gazans of Hamas, use whatever it takes.
  • #726,574
  • Feb 6, 2023 10:40am Feb 6, 2023 10:40am
Quoting Robinhood1
{quote} Individual pairs have different velocities even though being the same pair. Most of the time one pair follows another except when there is a major turning point where all same currencies act together. At this precise moment i am trying to work out the most inmediate performance of eur/gbp, eur/nzd, gbp/nzd and gbp/cad. I think eur/nzd & gbp/nzd could turn down together. This weakens eur & gbp. Eur more as gbp is already weakening eur. Gbp/cad, i will take it out of the mix as it is more confusing. eur/nzd for a reversal while gbp/nzd for...
Most of the time one pair follows another except . . .
And this is exactly why examining only 2 pairs is not enough input. When you increase the input to 3 pairs, 2 of which share a common currency, you can determine which of those 3 pairs is preferred to trade when the direction correlation changes.
To free Gazans of Hamas, use whatever it takes.
  • #726,575
  • Feb 6, 2023 10:40am Feb 6, 2023 10:40am
Quoting Robinhood1
Possible retracement gbpnzd at 1.9125. Trend is up though. swingtrading
Seeing that gbpnzd may have retraced before usdchf having reversed after, we see that the speed of gbpnzd is higher and consequently I expect usdchf to retrace at around 0.9330. Still figuring out the second phase of my strategy.
POSTMASTER
  • #726,576
  • Feb 6, 2023 10:46am Feb 6, 2023 10:46am
Quoting Robinhood1
{quote} Individual pairs have different velocities even though being the same pair. Most of the time one pair follows another except when there is a major turning point where all same currencies act together. At this precise moment i am trying to work out the most inmediate performance of eur/gbp, eur/nzd, gbp/nzd and gbp/cad. I think eur/nzd & gbp/nzd could turn down together. This weakens eur & gbp. Eur more as gbp is already weakening eur. Gbp/cad, i will take it out of the mix as it is more confusing. eur/nzd...
Possibly. If eur/nzd does not reach beyond 1.71107 i will not consider it a reversal.
POSTMASTER
  • #726,577
  • Feb 6, 2023 10:48am Feb 6, 2023 10:48am
Quoting DrDave
{quote} I think that you are trying to use the pairs in a way that is not suitable. You can only get strength of one currency relative to another currency. If you do your analysis by combining multiple currencies that have a common currency, you are able to determine which PAIR FROM THAT GROUP, has the strongest and weakest currency, so is the preferred pair to trade FROM THAT GROUP, at that moment, on that time frame. Here is a simple example. Note that all of the pairs must be evaluated using the same time frame. I you think a pair is ranging...
Suitable is relative.
POSTMASTER
  • #726,578
  • Feb 6, 2023 10:51am Feb 6, 2023 10:51am
GBP/JPY 15M Chart

Went Short at 159.477

SL 25 pips (159.727)
TP in the gap area (I expect the gap to be closed tommorow, with logic being, today they took sellers out who were hoping price will close the gap today).

GL! See you tommorow!
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  • #726,579
  • Feb 6, 2023 10:53am Feb 6, 2023 10:53am
I do consider eur/gbp reversed last week. First stop around 0.875x
POSTMASTER
  • #726,580
  • Feb 6, 2023 10:55am Feb 6, 2023 10:55am
Quoting DrDave
{quote} Fire from "firesticks" (matches) looks like voodoo to some cultures. You can get more information here.
thank you sir! I will read it on my next break at work
You have an IQ lower than 90 if you interact with this user.
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