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Cable Update (GBPUSD)

  • #728,961
  • Feb 15, 2023 3:45am Feb 15, 2023 3:45am
The Cable scalps entered yesterday, all 7 trades had now closed. I closed them at 1.210 level (that level in chart below). Gain +$30.

Entered a short on USDJPY at 133.43. Kept my GBPJPY shorts for now.

As for my 30-plus Cable shorts, P/L now at +$1.32k.

We'll be looking at US retail sales later today. After lower than expected UK data this morning.
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  • #728,962
  • Feb 15, 2023 3:46am Feb 15, 2023 3:46am
Short at 12098 now it’s coffee time before meetings at work. Will update later
Insane in the Brain..
  • #728,963
  • Feb 15, 2023 3:46am Feb 15, 2023 3:46am
Today looks to shape up like Feb-08 in reverse. A stong shake out based on news the previous day, a very strong hourly candle before the LO, and then price tries to retest the fvg all day long and NY is finally able to do so. Then the following day is the strong trend day in the original direction. So I expect today to retest 2130 at least, then if this plays out tomorrow is short only. Setup invalidated over 2190.
  • #728,964
  • Feb 15, 2023 3:47am Feb 15, 2023 3:47am
Seems like no matter which way we go, we'll always find a home at that fantastic 2100 magnet.
  • #728,965
  • Edited 3:58am Feb 15, 2023 3:47am | Edited 3:58am
G/M, downside follow thru on y/day's dly hammer-ish candle (bullish-bodied) that resulted from the rejection of the prev 4hr/minor dly sw lo zone = prev supp = pot sbr after the U.s Cpi etc. Follow-thru helped by Uk Cpi data earlier.

Price @ current dly lo just skirting with top of a prev 1hr/minor 4hr sw hi zone = prev res = pot rbs.

1hr below
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Trader with an Edge.
  • #728,966
  • Feb 15, 2023 3:48am Feb 15, 2023 3:48am
Sell cable at 1.2099. This is pretty bad place to sell. Will i be slaughtered?
  • #728,967
  • Feb 15, 2023 3:48am Feb 15, 2023 3:48am
Quoting BeeTogether
Short at 12098 now it’s coffee time before meetings at work. Will update later
Oh, cool, i opened the same trade. But it is not the best place to sell.
  • #728,968
  • Feb 15, 2023 3:49am Feb 15, 2023 3:49am
GU didn't go up, so GJ raised it instead, so I closed it with a little profit.

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  • #728,969
  • Feb 15, 2023 3:50am Feb 15, 2023 3:50am
Quoting BrainBucks
Seems like no matter which way we go, we'll always find a home at that fantastic 2100 magnet.
Here's an experiment for you. Throw a horizontal line randomly within the range and count how many times price reverts to it. Compare that with the count of the "2100 magnet".
  • #728,970
  • Feb 15, 2023 3:52am Feb 15, 2023 3:52am
Morning everyone. Waiting a candle closes above the close of 9.40 candle to buy.
  • #728,971
  • Feb 15, 2023 3:56am Feb 15, 2023 3:56am
...4hr (gmt+2) very likely to close bearishly in <5mins.

4hr below
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Trader with an Edge.
  • #728,972
  • Feb 15, 2023 4:06am Feb 15, 2023 4:06am
Word of the Day: February 15, 2023
divest

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  • #728,973
  • Feb 15, 2023 4:08am Feb 15, 2023 4:08am
Quoting genadi
{quote} Oh, cool, i opened the same trade. But it is not the best place to sell.
Hi, There is a better than 50% chance of a downside follow-thru on that big 1hr bearish-thrust candle (multi-year historical sample) so if it stays within your stops you may have a chance of a profitable trade. 4Hr just closed bearishly too. G/L.

1hr below
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Trader with an Edge.
  • #728,974
  • Feb 15, 2023 4:08am Feb 15, 2023 4:08am
Quoting noox
{quote} Here's an experiment for you. Throw a horizontal line randomly within the range and count how many times price reverts to it. Compare that with the count of the "2100 magnet".
Done!
Too many times.
  • #728,975
  • Feb 15, 2023 4:11am Feb 15, 2023 4:11am
Quoting pipcenturion
The final batch of buyers from the H1 (demand) imbalance done on the 13th of February will be waiting at 1.2069 I will try longs there again
Longs are good in my books now.

Targets 1.2348 and then maybe 1.2408

Trade safely everyone!
  • #728,976
  • Feb 15, 2023 4:15am Feb 15, 2023 4:15am
Quoting lucaswalliam
{quote} Why is it 1.21040.Does it have any basis?
This is where S line is. If candle closes below it it indicates Sell, just as did H4 prior to it when it closed below the gray line, first S.
  • #728,977
  • Feb 15, 2023 4:16am Feb 15, 2023 4:16am
Quoting pipcenturion
{quote} Longs are good in my books now. Targets 1.2348 and then maybe 1.2408 Trade safely everyone!
I am with you on this.
  • #728,978
  • Feb 15, 2023 4:17am Feb 15, 2023 4:17am
London gave no Sell, meaning probably Range or retracement now and then Sell continues on news for US.

EUR/GBP witnessed Buy as Hourly suggested it would. Now, probably time for retracement and then Euro should go up again.
  • #728,979
  • Feb 15, 2023 4:18am Feb 15, 2023 4:18am
Took SL at b/e nothing happening here
Insane in the Brain..
  • #728,980
  • Feb 15, 2023 4:20am Feb 15, 2023 4:20am
Quoting BeeTogether
Took SL at b/e nothing happening here
Hi, Now it will drop - lol!
Trader with an Edge.
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