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Cable Update (GBPUSD)

  • #734,741
  • Mar 8, 2023 7:44am Mar 8, 2023 7:44am
Today, I took a break from GBP/USD and traded GBP/JPY, and my 2-position short order was going well, but I didn't receive the 3-position stop order, so I gave up and settled 2-position. Then it will plummet this time. I embarrassedly followed up with a short, which closed in less than 10 minutes.

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  • #734,742
  • Mar 8, 2023 7:44am Mar 8, 2023 7:44am
Quoting Elysion
{quote} No idea, no longer understands the market behaviour to the news. I'll just stick to trading what I see not what I think.
I guess what I am expecting to see is a sweep of the lower liquidity before a shorter-term move up.
  • #734,743
  • Mar 8, 2023 7:57am Mar 8, 2023 7:57am
Possible low break and then shoot up for sell... 100 pips on the table... But I'm in no hurry... Will buy the new low...
  • #734,744
  • Mar 8, 2023 8:06am Mar 8, 2023 8:06am
Quoting fxmasterdxb
{quote} my sell limits are places @1.1850 & 1.1874, will add once further confirmation on the drop
sell limits is changed to 1.1865 and 1.1895
  • #734,745
  • Mar 8, 2023 8:12am Mar 8, 2023 8:12am
Quoting Coreg2004
{quote} Jolita, it took some time but finally it happened. https://www.forexfactory.com/thread/...5#post14326795 https://www.forexfactory.com/thread/...1#post14350811
Hello Coreg, I have send you DM. Please take a look. Thanks
  • #734,746
  • Mar 8, 2023 8:13am Mar 8, 2023 8:13am
Quoting dantpm
Employment is up so FED rate increases are not hurting the economy opening the door for more increases. Combine this with Powel's statements yesterday and you have every reason for GU to go down. It does appear to be stalled. Was yesterday sell on the rumor and now we are waiting for the news?
There are always Fed members stoking the market by dropping a line here or there but the ones we should pay attention to are the ones who have the voting rights. See below. Personally, I feel that Feds just love to drop a comment or two every now and then just to stir up the market. After all, they are "the very few with too much power" to make or break you.

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Live long and prosper with green pips!
  • #734,747
  • Mar 8, 2023 8:21am Mar 8, 2023 8:21am
Why is the volume fairly low today.
Even lower compared to London open.
Exhausted
  • #734,748
  • Mar 8, 2023 8:23am Mar 8, 2023 8:23am
Quoting Elysion
Why is the volume fairly low today. Even lower compared to London open.
after yesterday? We can't complain
  • #734,749
  • Mar 8, 2023 8:25am Mar 8, 2023 8:25am
Quoting Whale
{quote} after yesterday? We can't complain
Still, this is odd for a NY session.
As if the banks are in holiday.
Exhausted
  • #734,750
  • Mar 8, 2023 8:26am Mar 8, 2023 8:26am
hhhmm ranging again
  • #734,751
  • Mar 8, 2023 8:29am Mar 8, 2023 8:29am
Quoting Robinhood1
Nzdjpy buying area now 83.90 target 88.90
Nzdjpy

Taking off any moment. Sky rocketing
POSTMASTER
  • #734,752
  • Mar 8, 2023 8:29am Mar 8, 2023 8:29am
Quoting Elysion
{quote} Still, this is odd for a NY session. As if the banks are in holiday.
How about the banks weren't prepared for yesterday's move and now they are digesting it while they plan their next moves?
  • #734,753
  • Mar 8, 2023 8:34am Mar 8, 2023 8:34am
Quoting Robinhood1
{quote} Nzdjpy Taking off any moment. Sky rocketing
I see Gbpjpy taking off too. Target 171.00
POSTMASTER
  • #734,754
  • Mar 8, 2023 8:37am Mar 8, 2023 8:37am
Quoting Indigo45
{quote} Hello Coreg, I have send you DM. Please take a look. Thanks
Indigo45, I conveyed your message.
Always trade your own plan...I don't provide trading signals.
  • #734,755
  • Mar 8, 2023 8:41am Mar 8, 2023 8:41am
Staring at the chart for too long, my emotions are blaring inside.
Seeing my tradea going negative positive negative positive in this range.
Will close right before news.
My heart can't take it and I might overtrade again
Exhausted
  • #734,756
  • Mar 8, 2023 8:43am Mar 8, 2023 8:43am
Quoting Coreg2004
{quote} Indigo45, I conveyed your message.
  • #734,757
  • Mar 8, 2023 8:47am Mar 8, 2023 8:47am
Closed 90% of my longs, left two open for news.
Will continue trading tomorrow.
Trade safe peeps.
Exhausted
  • #734,758
  • Mar 8, 2023 8:48am Mar 8, 2023 8:48am
Quoting Georginson
{quote} I have added the second buy at 1.1853... Last buy limit at 1.1798... all target is 1.1925...
Exited at 1.1843... - 10 pips. Only one buy left open from 1.1890... I can easily add more buy if it drops lower since I have enough free margin.
Data + Stat + Risk/Emotions Management
  • #734,759
  • Mar 8, 2023 8:48am Mar 8, 2023 8:48am
Quoting Elysion
{quote} Still, this is odd for a NY session. As if the banks are in holiday.
the volumes are actually quite normal on the futures market

might be just a quirk of the algo that it's not translating into big moves in price, maybe limits set on the outside of the range waiting for JOLTS keeping price constrained
  • #734,760
  • Mar 8, 2023 8:48am Mar 8, 2023 8:48am
Gadually we will hopefully hit 1900. I just took a risk to sell USDCAD here at 3763 and expecting a hawkish hold of current rates by BoC. That should at least send UC below 3700. Don't try at home, please.
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